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Sony facing bigger loss for fiscal 2013

TOKYO -- Sony Corp. announced Thursday that it now expects to post a group net loss of 130 billion yen ($1.25 billion) for the year ended March 31, 20 billion yen wider than it had estimated in February.

     The electronics giant, which plans to exit the PC business and take other streamlining steps, attributed the earnings downgrade to additional restructuring costs in the personal computer business and impairment losses related to disc production. This marks the third time that Sony has cut its guidance for fiscal 2013, underscoring its murky business recovery.

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