Friday, July 29, 2016

Sony, Sharp Quarterly Results

Sony quarterly report and forecast reflect Kumamoto earthquake results:


The company PR separates Semiconductors from the battery business (to be sold to Murata) and updates on its status:

"Sales decreased 22.9% year-on-year (a 14% decrease on a constant currency basis) to 144.4 billion yen (1,402 million U.S. dollars). This decrease was primarily due to a significant decrease in sales of image sensors, reflecting the impact of a decrease in image sensor production due to the 2016 Kumamoto Earthquakes, lower demand for image sensors for mobile products, and the impact of foreign exchange rates. Sales to external customers decreased 21.4% year-on-year.

Operating loss of 43.5 billion yen (423 million U.S. dollars) was recorded, compared to operating income of 32.7 billion yen recorded in the same quarter of the previous fiscal year. This significant deterioration was due to the impact of the above-mentioned decrease in sales, the 20.3 billion yen (197 million U.S. dollars) impairment charge against long-lived assets for camera modules, net charges of 13.6 billion yen (132 million U.S. dollars) for expenses resulting from the 2016 Kumamoto Earthquakes and the negative impact of foreign exchange rates. During the current quarter, there was a 8.2 billion yen negative impact from foreign exchange rate fluctuations.
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The Semicondustor business updated forecast for Sony fiscal year ending on March 31, 2017: "Sales are expected to be lower than the May forecast primarily due to lower-than-expected image sensor sales reflecting the impact of foreign exchange rates, partially offset by a faster-than-expected recovery from the 2016 Kumamoto Earthquakes. Operating income is expected to be lower than the May forecast mainly due to the negative impact of foreign exchange rates, partially offset by the favorable impact of the above-mentioned recovery."

Sharp too reports its quarterly earnings showing camera module business shrink, although it retains its position as the company's second largest product group:

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