2012-04-24 04:00:00frank
[corporate] SONY 在去年的帳面上提列了3,000億費用，今年預計賺1,800億
提列大筆的費用，尤其是把庫存的價值調降，這幾乎是每一個新任老闆都會做的事。Sony 在二月宣布其執行長 Sir Howard Stringer 在會計年度終了後下台，換上日本籍，原本負責 Play Station 平井一夫 (HIRAI Kazuo)擔任CEO。並預計2011會計年度會有高達 2,200 億日圓的虧損。 4/10 公布最後結帳，
結果發生了 5,200 億日圓的虧損。多出的這 3,000 億日圓的「虧損」並非真正的「虧損」，不過是「評價」，可以說是平井一夫先從去年的帳面上拿了3,000 億日圓起來做為「虧損」。有了 3,000 億日圓的平井今年的目標只是要賺 1,800 億日圓；換句話說，他今年的目標只是留下去年從帳本上拿起來的錢的六成。
從網路上節取幾則這個新聞的報導，這樣的標題的確誤導讀者。
索尼年度虧損 較預期倍增
Sony expected to have JPY220 billion loss in the beginning of Feb, which came to the public after its announcement of new CEO Kazuo Hirai will take over Howard Stringer in the new fiscal year starting from this April 1st.
http://news.blogs.cnn.com/2012/02/02/sony-expects-nearly-3-billion-loss/
The latest news yesterday was the net loss would be as high as JPY520 billion, more than double than it's own forecast. The company blamed tax expenses - approximately 300 billion yen ($3.6 billion) - related to its assets in the United States.
http://business.blogs.cnn.com/2012/04/10/sony-losses-to-be-double-earlier-predictions/
This is too far-fetching to believe a sophisticated multinational company would accidentally forget calculating (or miscalculating) its tax expense as much as $3.6 billion, and did not find out till it consolidated all the data of the fiscal year.
So, I went to Sony's webstie and found out that the extra JPY 300 billion was due to increase of "valuation allowance" last year, so accordingly the company will have JPY300 billion of "deferred tax asset" as "credit" in this fiscal year. In the company's statement, it reads, "This expected charge represents approximately 80 percent of the aggregate additional tax expense."
http://www.sony.net/SonyInfo/IR/financial/fr/11revision_sony.pdf
The new CEO has extra JPY300 billion in his pocket as leverage. But the news said the company projected operating profit of JPY180 billion in this fiscal year (from Apr. 1, 2012 to Mar. 31, 2013). Well, if in FY2013 Sony makes JPY300, then it just fairly keeps what he hides behind the book value. Apparently, Mr. Kazuo HIRAI just set the target of this year to keep 60% of what took from the book of last fiscal year.
http://www.businessweek.com/news/2012-04-10/sony-widens-net-loss-estimate-to-520-billion-yen
http://news.blogs.cnn.com/2012/02/02/sony-expects-nearly-3-billion-loss/
The latest news yesterday was the net loss would be as high as JPY520 billion, more than double than it's own forecast. The company blamed tax expenses - approximately 300 billion yen ($3.6 billion) - related to its assets in the United States.
http://business.blogs.cnn.com/2012/04/10/sony-losses-to-be-double-earlier-predictions/
This is too far-fetching to believe a sophisticated multinational company would accidentally forget calculating (or miscalculating) its tax expense as much as $3.6 billion, and did not find out till it consolidated all the data of the fiscal year.
So, I went to Sony's webstie and found out that the extra JPY 300 billion was due to increase of "valuation allowance" last year, so accordingly the company will have JPY300 billion of "deferred tax asset" as "credit" in this fiscal year. In the company's statement, it reads, "This expected charge represents approximately 80 percent of the aggregate additional tax expense."
http://www.sony.net/SonyInfo/IR/financial/fr/11revision_sony.pdf
The new CEO has extra JPY300 billion in his pocket as leverage. But the news said the company projected operating profit of JPY180 billion in this fiscal year (from Apr. 1, 2012 to Mar. 31, 2013). Well, if in FY2013 Sony makes JPY300, then it just fairly keeps what he hides behind the book value. Apparently, Mr. Kazuo HIRAI just set the target of this year to keep 60% of what took from the book of last fiscal year.
http://www.businessweek.com/news/2012-04-10/sony-widens-net-loss-estimate-to-520-billion-yen