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Sony sales and profits rise, but target missed

Stonger sales - but not strong enough

On the back of stronger sales Sony earned sharply higher net profits in the financial year just ended. But Sony missed its already-lowered operating profit target, it said today.

The company reported net profits of ¥369 billion ($3.5bn) for the year to March with sales up 7 percent to ¥8.9 trillion.

Operating profit, which more closely measures the profitability of Sony's core electronics operations and excludes most non-core and one-time gains and charges, was ¥374bn, more than four times those reported in the previous year, but less than Sony's target of ¥410bn. Sony had originally forecast an operating profit of ¥440 billion but revised it down three months ago.

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