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Sony posts $1.26 billion fiscal year net loss

TOKYO - Struggling electronics giant Sony said Wednesday it lost $1.26 billion in the fiscal year to March, blaming costs tied to its exit from the personal computer business as the once-mighty firm undergoes a painful restructuring.

The Japanese firm booked a whopping shortfall of 128.37 billion yen ($1.26 billion) and forecast a 50 billion yen net loss in the current fiscal year to March 2015.

AFP


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