TOKYO (Reuters) – Sony Corp. rebounded lowest level in two months on expectations that they could put their problems behind them after the electronics conglomerate, said game of the year this year operating profit Last relaxation concerned about the impact of the earthquake was in March.
In its first estimate for the year to March 2012, Sony generated an operating profit would come in 200 billion yen ($ 2.44 billion), and then exceed Macquarie upgraded its assessment of stocks market neutral. Morgan Stanley, Credit Suisse and UBS reiterated its overweight, you can buy or outperform ratings.
Analysts said Sony had contracts with a realistic look at the impact of the earthquake and a PlayStation Network hacking incident, both of which had weighed on the planned actions.
Sony said it expected the earthquake and the hacking incident pull down the operating profit of 164 billion yen this fiscal year. However, the decline in market capitalization of Sony’s 264 billion yen since the earthquake, “seems exaggerated,” Macquarie analyst Jeff Loff wrote in a report.
“With shares cheap and cost impacts of the unique nature, we expect the stock to his backhand.”
Sony expects a net loss of 260 billion yen (3.2 billion U.S. dollars) for the year ended 31 March 3, the net loss after writing right tax credits after the earthquake in Japan and the report tsunami.
Many of Sony’s competitors, including Sony Corp., have yet forecasts for the current year due to the uncertainty of the problem in case of disaster.
Shares of Sony, the maker of PlayStation games and Vaio computers fell 2.4 percent in 0340 GMT, to a sub-index of electrical machinery Tokyo flat. Sony plunged by nearly 1 percent in early trade to its lowest level since the period immediately after the earthquake.
Some fund managers, but said the shares up 22 percent so far this year, could not see strong gains.
“I agree that actions are not likely to keep sliding doors, but neither I do not see any new catalysts that would bring the share price upwards. I expect to share further meanders back and forth at a low level, “said Makoto Kikuchi, CEO Myojo Asset Management.
“It’s not just Sony, Panasonic, Sharp -.. All the Japanese manufacturers of consumer electronics have reduced the basis of their actions since they can not compete in prices, the only way they have is to new markets with high added value created. products that people would pay more. ”
“Sony used to have this capability. But I see nothing to make that upward movement this year would be.”
Sony has a number of hacker attacks, more than 100 million accounts are subject to its online gaming network for data theft possible, the doubts of the attempt by Sony to reinvent its online business seen.
The company lowered its annual net profit for the year ended March 31 with a loss of 260 billion yen from its previous estimate of a profit forecast of 70 billion yen.
Credit Suisse analyst Shunsuke Tsuchiya these shares in Sony were close to bottoming out and Morgan Stanley said Masahiro Ono deleted the announcement was positive, and uncertainty.
Sony was well below the market for portable music to Apple’s iPod, while losing market share to Samsung Electronics in flat screen televisions.
Sony, which had designed, scrapped, but the products that could be said both the iPod and the IPAD previous full results announced Thursday.
(1 USD = 81.955 JPY Japanese)
(Additional reporting by Isabel Reynolds, edited by Anshuman Daga and Edmund Klamann)