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Sony Takes $976 million Charge on Film Segment in October-December

The impairment charge came mainly as Sony revised down the profit prospects of its DVD sales and other home entertainment operations in line with a market decline.

Reuters

Updated:January 30, 2017, 2:27 PM IST
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Sony Takes $976 million Charge on Film Segment in October-December
The impairment charge came mainly as Sony revised down the profit prospects of its DVD sales and other home entertainment operations in line with a market decline. (Image: Reuters)

Sony Corp said on Monday it booked an impairment charge of 112.1 billion yen ($976 million) on the goodwill value of its film segment in October-December.

The impairment charge came mainly as Sony revised down the profit prospects of its DVD sales and other home entertainment operations in line with a market decline, the company said.

Sony said the impact on the group's earnings for the fiscal year ending in March is currently being evaluated and will be disclosed when it releases its third-quarter results on Feb. 2.

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