Sony, Sharp and Fujitsu earnings all bring bad news, only Toshiba says something nice

Plenty of Japanese earnings news today and, as with Nintendo, most of it's pretty dire. Sony's hit from the earthquake and PSN outtage has inevitably contaminated this quarter, but it's suffered from slow Bravia TV, PC and camcorder sales too. Together, these factors contributed a hefty ¥15.5 billion ($200 million) loss in the three months to the end of June, compared to a ¥25.7 billion profit for the same quarter last year.

Meanwhile, Fujitsu also lost ¥20.4 billion, which it largely attributed to a 6.7 percent decline in Japanese sales following the disaster. However, sales in other countries also fell 5.3 percent, reflecting a stronger yen and general lack of consumer demand.

Despite everything, Sharp managed to make an operating profit of ¥3.5 billion -- but this was down an eye-watering 84.4 percent on the same period last year. Like Sony, the company is suffering from weak demand for TVs, and says it's switching one of its main TV panel plants to make smaller panels for mobile devices instead -- including the iPhone and iPad.

There was some more upbeat news from Toshiba, however, which has managed to stay in the green. It reported a slight rise in net quarterly profit to ¥470 million due to demand for its power systems and home appliances. At least that's a note worth ending on.

Sony, Sharp and Fujitsu earnings all bring bad news, only Toshiba says something nice originally appeared on Engadget on Thu, 28 Jul 2011 07:22:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/07/28/sony-sharp-and-fujitsu-all-bring-bad-news-only-toshiba-says-so/

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