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Sony Corp expects to be back in the red for the first time in two years in the current financial year, the company said on Thursday.
Sony projected a net loss of ¥110 billion ($1.08 billion) for the year through March, compared with a net profit of ¥30 billion estimated three months ago.
The PlayStation manufacturer nearly halved its operating profit forecast to ¥80 billion from the ¥170 billion it had projected in October, while its annual sales outlook was unchanged at ¥7.7 trillion.
Sony confirmed it had agreed to sell its computer operations to Japan Industrial Partners Inc , a Tokyo-based investment fund, as part of its restructuring.
The company also said it would spin off its TV business and operate it as a wholly-owned subsidiary.
As part of its restructuring, Sony said it would slash 5,000 jobs – 1,500 in Japan and 3,500 overseas – by March 2015.
For the October-to-December period, Sony posted a net profit of ¥27 billion, a turnaround from a net loss of ¥10.8 billion in the same period in 2012.
The company almost doubled its operating profit to ¥90.3 billion in the quarter from ¥46.4 billion a year earlier, while its sales jumped 23.9 per cent year-on-year to ¥2.41 trillion.
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