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Sony Will Delay Its Earnings Forecasts to Assess Earthquake Damage

April 22, 2016, 9:35 AM UTC
Opening Day Of Mobile World Congress 2015
Kazuo Hirai, chief executive officer of Sony Corp., pauses during a news conference at the Mobile World Congress in Barcelona, Spain, on Monday, March 2, 2015. The event, which generates several hundred million euros in revenue for the city of Barcelona each year, also means the world for a week turns its attention back to Europe for the latest in technology, despite a lagging ecosystem. Photographer: Simon Dawson/Bloomberg via Getty Images
Photograph by Simon Dawson — Bloomberg via Getty Images

Japanese electronics giant Sony said on Friday it would delay announcing earnings forecasts for this business year as it continues to assess the impact of the powerful earthquakes that have halted its image sensor plant in southern Japan.

Sony (SNE) said it would release the forecasts some time in May, instead of on April 28, when it is due to announce results for the year that ended in March.

The company also said in a statement that the suspension of operations at the factory in Kumamoto could have an adverse impact on its operating results, particularly in the image sensors and digital cameras segments.

Some equipment and clean rooms were damaged at the plant, it said.

Sony on Thursday cut its profit estimate by 9.4% for the year just ended, as slowing global smartphone sales dented demand for its camera modules.