(MENAFN) Sony recorded an annual loss of USD1.1 billion, but has expectations of turning back to profits in the current financial year as it emerges from a painful corporate makeover, the Peninsula reported
The company's losses followed a sweeping restructuring that has included layoffs and selling off assets, including its Manhattan headquarters, aimed at rescuing a battered balance sheet.
"The major parts of the restructuring have ended. Now is the time that we must regain market confidence after revising down our earnings several times in the past." Chief financial officer said.
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