Sony to delay annual earnings
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Sony Corp. said on Wednesday it would  delay its annual earnings report by a few weeks as it grapples  with the extra paperwork needed to comply with tougher U.S.  accounting rules.
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TOKYO -- Sony's upgrade video-game console PlayStation 3 will be delayed until March in Europe, but will go on sale in November as planned in the U.S. and Japan, the executive in charge of the project said Wednesday.
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H&R Block Inc.,  the largest U.S. income tax preparer, said on Tuesday that it expects to delay filing its quarterly results with regulators after turmoil in the subprime mortgage market forced it to write down assets at its Option One Mortgage Corp. unit.
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Electronics giant Sony has reported a fall in profits, in contrast to strong gains seen by Matsushita and Canon. Sony, which blamed a fall in sales of televisions and portable audio players, saw half-year
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Sony warns that it does not expect profits at its home electronics business to recover  in the normally busy Christmas season.
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In yet another embarrassing delay for Sony, the company is delaying the launch of its "Home" virtual world for the PlayStation 3, initially planned for later this year, until next spring.
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Sony Corp. 6758.T said on Wednesday it   would delay the European launch of its PlayStation 3 (PS3) game   machine to March from November due to inadequate supply of a   key component, missing the critical Christmas shopping season.
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(InfoWorld) - Sony will delay the release of its full-year earnings by about three weeks due to stricter U.S. accounting rules, the company said Wednesday. Sony had been due to release its earnings for the fourth quarter and full year, from April 2006 to March 2007, at the end of April but has decided to push this back to May 16. It blamed the delay on the tougher rules that have come into effect under the Sarbanes-Oxley Act, which also applies to foreign companies, such as Sony, that are listed in the U.S. The law, which came into force in 2002, introduced strict financial reporting and corporate governance requirements. A larger amount of paperwork is required to comply with the act's provisions, and that's taking time, Sony said. Until several years ago, most Japanese IT companies announced their full year earnings in mid-May. In recent years, the Tokyo Stock Exchange has been trying to persuade companies to finalize their accounts within a month and announce their results in late April just ahead of the week-long "golden week" holiday in Japan. Hitachi said in February that it would also delay the release of full-year earnings until May.
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Sony Corp. has announced a fresh delay to the launch of the PlayStation 3 (PS3) games console in Europe, pushing back the rollout there of one of its most important new products until March next year.
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Sony Corp. plans to cut capital expenditures at its semiconductor operations by a "large amount," a company executive said Tuesday, weeks after the electronics giant reported a drop in profits for the latest quarter.
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Japan's Sony Corp  posted a 5.8 percent rise in quarterly operating profit thanks to strong digital camera sales, and it cut its annual outlook.
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Sony's upgrade video-game console PlayStation 3 will be delayed until March in Europe, but will go on sale in November as planned in the U.S. and Japan, the executive in charge of the project said Wednesday.
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CHIBA, Japan  - Sony Corp  said on  Thursday it would postpone the launch of the "Home" virtual  community service for its PlayStation 3 game console to early  next year, the latest setback in its videogame battle with  Microsoft Corp  and Nintendo Co Ltd .
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Sony cut its profit forecast by about 9% - citing worries about the US slowdown and the strong yen.
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CHIBA, Japan  - Sony Corp said on Thursday it would postpone the launch of the "Home" virtual community service for its PlayStation 3 game console to early next year, the latest setback in its videogame battle with Microsoft Corp and Nintendo Co Ltd.
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Sony Corp.  and Pioneer Corp.  said on Wednesday they would delay their annual earnings reports by a few weeks due to extra paperwork needed to comply with tougher U.S. accounting rules, joining other U.S.-traded Japanese companies such as Hitachi Ltd. .
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Japanese electronics giant Sony reports a drop in profits as high costs at its game unit offset strong TV sales.