Sony Corp cuts losses in Q3 FY12 as music operating income increases

Tom Pakinkis

Sony Music parent company Sony Corp has reported a 10.8bn yen ($115m; £73m) loss for the three months ending December 2012 – cutting its overall losses year-on-year.

The parent was helped by its music arm, which consolidates Sony Music Entertainment, Sony Music Entertainment Japan and Sony/ATV). It saw operating income increase 1.1bn yen year-on-year to 16.4bn yen ($188m). Sony said the increase was primarily due to the depreciation of the yen against the US dollar and growth in digital revenue.

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