The Sony Corporation said Monday that it would probably book a much narrower loss last year in part because of cost cuts and better electronics sales.
Sony said it expected a net loss of 41 billion yen ($440 million) when it reports earnings Thursday for the fiscal year ended March 31. The result represents a big improvement from a 98.9 billion yen loss the previous year.
In its previous forecast released in February, Sony projected an annual net loss of 70 billion yen and an operating loss of 30 billion yen. On Monday it downgraded its revenue forecast to 7.21 trillion yen from 7.3 trillion yen.