Sony cuts earnings outlook due to sale of battery business

Sony cut its annual earnings outlook due to losses related to the sale of its battery business.

The sale to Murata Manufacturing is expected to close in July ahead of Sony's fiscal year ending in March. However, its impact on earnings appeared to be greater than expected.

Sony expects to post 270 billion yen ($2.6 billion) in fiscal year earnings, down 30 billion yen from previous forecast made in July and an 8 percent decline from the previous year.

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