Sony shares drop to 31-year low in Japan, 19-year low in US

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Shares of Sony stock have dipped to their lowest number in 31 years in Japan and to a 19-year low in the US, following a dismal earnings report for the previous fiscal year. Sony shares dropped 7 percent in Japan, to 1,135 Yen ($14), and 2 percent in the US, closing at $15.37.

Sony CEO Kaz Hirai plans to lose 10,000 employees in a company-wide reorganization effort. Sony reported a net revenue loss of 9.6 percent for fiscal year 2012, dropping from $89 billion to $79.1 billion year-over-year.

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Source: http://www.joystiq.com/2012/05/11/sony-shares-drop-to-31-year-low-in-japan-19-year-low-in-us/#comments

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"Sony shares drop to 31-year low in Japan, 19-year low in US" :: Login/Create an Account :: 4 comments

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xStyleesPosted:

In other news, Microsoft are richer then Sony...

PDMSTINKYEYEPosted:

CoolCatjsjs they won't have $$ problems when PS4 comes out tho. im sure this isn't a big deal


yea they will cause xbox 720 or it other name

-Robin-Posted:

they won't have $$ problems when PS4 comes out tho. im sure this isn't a big deal

DECOTRAPosted:

well that sucks hope they dont go bankrupted