Arab Today, arab today moody\s slashes sony\s rating on weak cash
Last Updated : GMT 23:14:33
Arab Today, arab today
Arab Today, arab today

Moody\'s slashes Sony\'s rating on weak cash

Arab Today, arab today

Arab Today, arab today Moody\'s slashes Sony\'s rating on weak cash

Tokyo - AFP

Moody\'s yesterday downgraded Japanese electronics titan Sony, citing the company\'s \'weak profitability and cash flow\'. The agency lowered its assessment on debt issued by Sony from Baa1 to Baa2, citing \"its challenges in achieving profitability in the television and mobile phone segments, and the erosion in its global competitive position across different product lines-. The rating agency also said: \"Weak consumer sentiment, fierce global competition, and the impact of the strong yen on cost competitiveness will further hamper its efforts to improve its metrics.- Sony, the once-world-beating maker of the Walkman, lost a whopping Â¥456.66 billion ($5.83 billion) in the year to March, its fourth consecutive annual loss. It also reported a widening loss in the first quarter and cut a profit forecast for the year. Last month ratings agency Standard & Poor\'s downgraded its long-term corporate credit ratings on the firm to BBB, just two notches above junk status. \"Moody\'s expects Sony to narrow its losses through cost cuts in these businesses (of televisions and mobile phones), but will continue to experience losses at the operating level,- it said. \"In addition, despite the long-term strategic importance of the medical devices business, the recent capital and business alliance with Olympus Corp will further pressure Sony\'s cash flow,- Moody\'s said. Sony said last month that it will take a Â¥50 billion ($638 million) private placement of scandal-tainted Olympus shares by the fiscal year-end, which will make it the single biggest shareholder in the camera and endoscope maker. Moody\'s said it would be difficult for Sony \'to reduce debt without additional sales of non-core assets\'. The maker of Bravia televisions and Cyber-shot cameras is struggling to revive profit by cutting costs as rivalry with South Korean makers including Samsung Electronics pushes down TV prices. Sony cut its annual profit forecast 33 per cent on August 2, saying demand slowed more than expected and the Japanese currency strengthened. \"Weak consumer sentiment, fierce global competition, and the impact of the strong yen on cost competitiveness will further hamper its efforts to improve its metrics,- Moody\'s said in the report announced after the close of trading today in Tokyo. Sony shares rose 2.1 per cent to 908 yen at the close, compared with a 0.2 per cent drop on the benchmark Nikkei 225 Stock Average.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today moody\s slashes sony\s rating on weak cash Arab Today, arab today moody\s slashes sony\s rating on weak cash

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday