Reporting group net profit equivalent to $517m to reverse the loss the previous year, Sony Corp said it expects even better earnings this year – it is looking for a 75% jump in group net profits to $900m on sales up 9% to around $48,000m. Sony said sales in the electronics business increased 14.8%, while those for the entertainment group were up 7%. Inventories stood at $8,160m at March 31 1996, down slightly from the December 31 1995 but well above March 31 1995. The inventory backlog is concentrated in consumer electronics, caused mainly by weak overseas demand for audio and video products, those that watch the company said. Sony plans $2,700m in group investment this fiscal year, up from $2,400m. Some $48m will go to expand semiconductor production facilities, up from $42.9m last fiscal, and half the planned total will be invested overseas.
