SONY REINS IN FORECAST AS EURO WEAKENS

The stark figures from the Japanese electronics giant fuelled fears that weak exports will tip Japan deeper into recession.

Highlighting the seismic change in economic outlook since September, Sony slashed its operating profit forecast by 57 per cent because of the strong yen, falling stock market and weakening global economy.

The company will hold a board meeting in Tokyo next Wednesday to discuss its response to the situation, according to two executives at the company.

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