Sony exec is visibly devastated by earnings news
In a special press conference this morning in Tokyo to update its financial condition, Sony CFO Nobuyuki Oneda literally looked ill. Associated Press cameras show Oneda physically struggling to present the news that final reports will likely show its net profit plunging as much as 95% annually in the quarter just ended.
"From the second half of September last year, there has been a sudden deterioration in the economy, and with the effects of foreign exchange it has had severe consequences on our business," the AP quotes Oneda as saying. A statement released to reporters at the same time read, "An operating loss was recorded due to factors such as the appreciation of the yen, deterioration of results at equity affiliates, slowdown of the global economy and intensified price competition."