From Reuters.
Reuters) - Sony Corp (6758.T) on Wednesday sharply deepened its net loss estimate and said it would not pay a dividend this fiscal year for the first time since it listed in 1958 after it was hit by a massive impairment charge for its struggling smartphone division.
The downward revision its the sixth under Chief Executive Kazuo Hirai, who took his post in 2012 promising to pull the firm's troubled electronics division into the black by focusing on its mobile, gaming and imaging units.
"This is the first time we've not paid a dividend and we feel that responsibility as management very heavily," Hirai told a news conference, adding that Sony would aim to start paying dividends again as soon as possible.
The Japanese consumer electronics company is now predicting a 230 billion yen ($2.15 billion) net loss for the year ending March 31, versus its previous forecast for a 50 billion yen loss. It expects an operating loss of 40 billion yen instead of a 140 billion yen profit flagged in July.
Move along nothing to see here...