Japanese Sony revealed their profits for the 2016-2017 financial year are 50% reduced from the previous year, being $660 million.

The main reason for this is the failure of Sony Pictures Entertainment and other film related divisions, which accumulated some serious loss.

The pictures division has lost $913 million, as revealed in February’s nine-month results. The results were also affected by currency fluctuations between the dollar and Japanese yen.

Sony explained in a filing: “The operating results for the Pictures segment were also negatively impacted by higher programming and marketing expenses for Media Networks, as well as higher theatrical marketing expenses for motion pictures.”

Japanese Sony revealed their profits for the 2016-2017 financial year are 50% reduced from the previous year, being $660 million.

The main reason for this is the failure of Sony Pictures Entertainment and other film related divisions, which accumulated some serious loss.

The pictures division has lost $913 million, as revealed in February’s nine-month results. The results were also affected by currency fluctuations between the dollar and Japanese yen.

Sony explained in a filing: “The operating results for the Pictures segment were also negatively impacted by higher programming and marketing expenses for Media Networks, as well as higher theatrical marketing expenses for motion pictures.”