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Learning English - Words in the News
23 January, 2009 - Published 12:14 GMT
Sony's first loss in 14 years
Sony logo

One of the world's biggest electronic companies, Sony, is on course for its first annual loss in 14 years. The company blames the global economic downturn and the strength of the yen for a lesser demand for its products. Mariko Oi reports from Singapore:

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The Japanese electronic giant Sony has slashed its annual earnings forecast again. It's expected to report an annual operating loss of almost 3 billion dollars. The company had previously forecast a profit of 2 billion dollars.

If confirmed, this would be Sony's first loss in 14 years, the second only since the company was listed on the Tokyo stock exchange in 1958.

Like other Japanese exporters, Sony is taking a beating from the global slump. The yen's appreciation also means less profit - as the company gets 80 percent of its sales from overseas.

Mariko Oi, BBC News, Singapore

Listen to the words

a very large company or organisation

slashed its annual earnings forecast
said it is no longer likely to make as much money out of its business during the coming year as it had previously expected

to report
here, to announce, to declare

listed on
admitted for trading/given licence to trade on

companies that sell their goods in other countries

is taking a beating
is suffering setbacks from, is negatively affected by

global slump
the economic slowdown that is affecting many countries across the world

an increase in value

abroad, other countries

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