Sony halves forecast as yen, movie unit hammer profit
World BusinessFeb 2, 2017
TOKYO(AFP) -- Sony on Thursday halved its full-year profit forecast as it was battered by a near $1 billion writedown on its movie unit while a strong yen also dug into the Japanese firm's bottom line.The dour reading comes as the embattled entertainment giant struggles with a painful restructuring drive that has included layoffs and asset sales after years of huge losses.It said net profit in the nine months to December 31 plunged 80.7 percent to 45.6 billion yen ($405 million) and warned it ex