Sony seeks time to file third quarter results

Sony seeks time to file third quarter results

Sony Corporation has sought an extension to file its quarterly earnings for the third quarter due to the cyber attack on Sony Picture Entertainment Inc’s (SPE) network and IT infrastructure.

Sony announced on Friday that it has filed with the Financial Services Agency of Japan (FSA) an application for approval of the extension of the deadline for Sony to file its quarterly securities report for the third quarter of the fiscal year ending March 31, 2015.

The original deadline for filing the report was February 16, 2015 and the extended deadline, if approved, will be March 31, 2015.

In November 2014, SPE, a consolidated subsidiary of Sony that is reported as the pictures business segment, identified a cyber attack on SPE's network and IT infrastructure.

Most of SPE's financial and accounting applications and many other critical information technology applications will not be functional until early February 2015 due to the amount of destruction and disruption that occurred, and the care necessary to avoid further damage by prematurely restarting functions.

However, even with the anticipated restoration of these applications in early February 2015, SPE will not have sufficient time to close its financial statements in time for submission of the quarterly securities report in the middle of February 2015.
DH News Service

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