Sony Corporation (SNE) Won't Pay Dividend, Sees Large Impairment Charge

Sony Corporation (NYSE: SNE) decided, at the meeting of its Board of Directors held today, that no interim dividend or year-end dividend of common stock of the Corporation for the fiscal year ending March 31, 2015 will be paid.

As we stated in our Securities Report (Yukashoken Houkokusho) and Annual Report on Form 20-F for the fiscal year ended March 31, 2014, Sony believes that continuously increasing corporate value and providing dividends are essential to rewarding stockholders. The company’s dividend policy is to determine the amount of dividends based on consolidated operating results, financial condition and future business expectations. In light of the downward revision in this fiscal year’s forecast for consolidated financial results due to the impairment charge in the Mobile Communications segment announced today, Sony has determined to pay no interim dividend or year-end dividend for the fiscal year ending March 31, 2015.

Sony also said as a result of revising the Mobile Communications (“MC”) segment’s Mid-Range Plan (“MRP”), as discussed below, Sony Corporation will record an impairment charge of approximately 180 billion yen, the entire amount of goodwill in the MC segment, in the second quarter of the current fiscal year. As a result, Sony Corporation has revised its consolidated results forecast for the fiscal year ending March 31, 2015 (April 1, 2014 to March 31, 2015) as follows:

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