Sony Corp. (6758), Japan’s largest exporter of consumer electronics, fell the most in almost eight months in Tokyo trading after forecasting a full-year loss because of a strong yen, waning TV sales and flooding in Thailand.
Sony declined 7.9 percent, the biggest drop since March 15, to 1,400 yen at the close of trading today. The benchmark Nikkei 225 Stock Average gained 1.9 percent. Markets were closed yesterday for a holiday.
The company, based in Tokyo, said Nov. 2 it will lose 90 billion yen ($1.2 billion) in the year ending March, compared with a previous projection for a 60 billion yen profit, as it contends with competition from Apple Inc. and Samsung Electronics Co. The loss will be Sony’s fourth in a row.