Sony to delay earnings report due to quake

April 22, 2011 | 15:57

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Sony said Friday it would announce its annual results on May 26, more than a week later than usual, as the firm assesses the impact of the March 11 earthquake and tsunami on its business.

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"We have decided to delay the announcement date to analyse in details what impact the disaster might have on our business," said a Sony spokeswoman.

The 9.0-magnitude earthquake and tsunami destroyed many factories in various business sectors and small parts makers along the Pacific northeast coast.

The region's economy was also hit hard by the crisis at a nuclear power plant crippled by the disaster which has affected electricity supplies.

Firms listed on the Tokyo Stock Exchange usually must release their earnings by May 15 but the bourse allowed firms to delay their announcements to account for the damage done to their business by the twin disaster and nuclear crisis.

AFP

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