Sony Targets Highest-Ever Profit for Fiscal 2018; Achievable but We Doubt High Level Is Sustainable
Sony is guiding for operating income of JPY 500 billion in fiscal 2018 (financial year ending March 2018), which marks a 73.2% increase over fiscal 2017’s JPY 289 billion. While this seems like a big jump, we think this target is realistic, as fiscal 2017’s profit includes one-time impairments of JPY 184 billion from Pictures, Components, and Semiconductor segments, that ate into core performance. In fact, the guidance is close to our forecast of JPY 505 billion and market expectation of JPY 512...Sony is engaged in the development, design, production, manufacture, offer and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets such as network services, game hardware and software, televisions, audio and video recorders and players, still and video cameras, mobile phones, and semiconductors. Co. is engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as the production and distribution of animation titles. Co. is also engaged in the production, acquisition and distribution of motion pictures and television.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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