Sony reported a 37.1 billion yen (approximately $388 million) net loss for the f

Question

Sony reported a 37.1 billion yen (approximately $388 million) net loss for the first quarter of 2009, and predicted losses for the rest of the year. Howard Stringer, chairman, CEO, and president of Sony, was hired in 2005 to revive the company and has promised to return the company to profitability, but the global recession has hurt industry sales of televisions and personal technology. Compared to 2008, Sony's revenue from computers and video games fell 37.4 percent and it trails South Korea's Samsung Electronics in flat-screen television sales. Sony's motion picture division was area that improved from 2008 with a 6.5 percent increase in quarterly sales. Although forecasting a net loss for their financial year which ends in March 2010. Sony's chief financial officer was optimistic, stating that the company hoped to at least break even. In addition to the recession, the value of the Japanese yen has also hurt Sony, which earns three-quarters of its revenue outside of Japan. Sony stated that the appreciation of the yen cost it approximately 68 billion yen in operating profit in the first quarter of 2009 compared to the same time period in 2008. Refer to the article above. An appreciating yen makes Japanese products. more expensive in foreign markets. less expensive in foreign markets. more expensive in foreign markets. more expensive in both foreign markets and the Japanese market.

Explanation / Answer

the answer here is D

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.