Sony’s Annual Report (PDF, 6MB) is an interesting fifty page look at the company’s fiscal year. It includes a look back at the year’s numbers, a stockholder’s letter from CEO Howard Stringer, and complete reviews of the various divisions within Sony. It’s truly the best way to understand the current status of the company and where they are going. The consolidated financial results for the fiscal year ending on March 31, 2009 were not the most rewarding. Sales and operating revenue was at Y7,730 billion, which is a huge number but is 12.9% less compared to the previous fiscal year.
An overall operating loss of Y227.8 billion was recorded, a deterioration of Y703.1 billion year on year. Some of the significant factors that caused the year on year deterioration in operating income were:
- an approximate Y279.0 billion impact from the appreciation of the yen against the US dollar and euro
- a Y125.9 billion impact from deterioration in results at equity affiliates, including Sony Ericsson
- a Y53.8 billion deterioration in operating results in the Financial services segment (due to Japanese stock market)
Restructuring changes, recorded as operating expenses, amounted to Y75.4 billion, compared with Y47.3 billion for the previous year.
