Stronger yen to hurt Sony’s profits this year

Sony has warned its earnings are likely to be hit this year by the strength in the yen, forecasting operating profit would sink 8.8pc. The guidance, which caused shares to close 0.8pc lower, came as the group posted net profit of Y490.8bn (£3.3bn) for the year to March 31, a more than six-fold rise on the prior year.