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Sony Corporation Raises Last Fiscal Year’s Sales Forecast, Still Expects Loss

Stronger than expected performance in Game and Network Services, savings in Home Entertainment and Sound contributed to improved outlook

Sony Corporation has raised its sales forecast for the 2014-2015 fiscal year due to higher than anticipated revenues in several sectors, though the company still expects a net loss of $1.05 billion for the year.

That’s up from an expected loss of $1.42 billion reported in February.

The Japanese company’s forecast for consolidated sales was revised upward thanks in part to increased revenue from its Music, Imaging Products & Solutions and Game & Network Services segments. Sony can thank its Financial Services division, however, as the main mover.

Consolidated operating income is expected to rise in part due to savings from Sony Life Insurance and the Home Entertainment & Sound segment.

The actual consolidated results for the fiscal year ended March 31, 2015 — and the forecast for FY 2015 — are scheduled to be announced on April 30.

Sony Corporation is the parent company of Sony Pictures Studios.