100°

Sony moves a step closer to junk; outlook "negative"

Fitch Ratings (a company that assesses the risk level of debt) announced today that they have downgraded several types of Sony debt to "BBB+" (the debt is still three notches above the dreaded "junk" moniker, however). Fitch also slapped a "negative" outlook on the debt, indicating that future debt downgrades are possible as "Sony's financial profile [continues] to weaken in the next one to two years."

rj816353d ago

At Sony's last 12 months. Here is where its profits came from (in millions):
Electronics (262.1)
Games 74.1
Pictures 232.5
Financial Services 1,596.1
Other 137.2
Corporate (156.8)
Total: 1,620.9

98.5% of Sony's profits come from financial services. That's right. Sony isn't an electronics company. It's a financial services company that sells electronics.

calderra6352d ago

Wow. Sony had 1.6B in profits for the last 12 months? I thought Sony's movie side was bigger than their entire bottom line...

To note:
"For the three-month period ending March 31, 2006, [Microsoft] had income of $10.9 billion, which yielded it $2.98 billion in profits."

...in 3 months.

DJ6353d ago

Huh. That's uhh...they're a financial services company?! I don't think anyone ever realized that. Where'd you find this crazy info?

SjaakHaas6352d ago

Thats why they lack in customer service, they just dont spend there money on it.

rj816353d ago

I read their quarterly financial reports for the last 12 months (4 quarters). I know they fashion themselves as an electronics company, but the source of their profits reveals a different story.

rj816353d ago

Financial Services segment engages in life and non-life insurance, Internet-based banking, and leasing and credit financing businesses. This segment also offers various financial services, including savings and loans.

TheMART6353d ago

Lot's of financing of their audio/video stuff probably in shops. So one can't do without the other I guess. Credit financing&leasing stuff.

But still. A junk bond it became almost dropping from 160 alltime high to 120, to under 40 dollars...

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180°

25 Most Played / Supported Adult Games of 2024

The best-selling adult games in the market, along with their revenue figures.

Read Full Story >>
spicygaming.net
Petebloodyonion15h ago

I guess these companies didn't call Sweet baby inc. for help.

Yui_Suzumiya13h ago

Don't forget Nukitashi 2 which just came out 😆

notachance13h ago

I bet this is gonna be one of those article which gets to hot even though there's only a few comments because people are too busy clicking the link 🤣

VincentVanBro8m ago

One of the best freedoms, the freedom to be horny.

50°

MobyGames celebrates 25 years and teases what's next for them

"We’re delighted to share that MobyGames, the authoritative online video game database resource, turns 25 today. Since its founding, MobyGames has been on a mission to meticulously catalog all relevant information about video games and the individuals or organizations behind them, and, of course, the instantly recognizable whale mascot. Please join the community, the MobyGames team, and Atari in celebrating this milestone." - MobyGames.

50°

ESTNN Exclusive: Interview With Bandle Tale Developers Pavel Malakhov & Evgeniy Mikhailov

I got to sit down with Pavel Malakhov & Evgeniy Mikhailov, two of the developers behind the sixth League of Legends Story standalone game, Bandle Tale.