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Restructuring costs result in Sony loss. (International).
Sony Corp is pointing to restructuring charges at its US subsidiary after its music division reported an operating loss of [yen] 8.7bn ($72m) in the year ending March 31, 2003, compared with operating income of [yen] 20.2bn ($167m) the year before.
Music revenues fell 1% to [yen] 636.3b ($5.3bn) while US-based Sony Music Entertainment saw sales rise 6%. Sony Corp's total revenues fell 1.4% to [yen] 7,600b ($62b).
Meanwhile, AOL Time Warner swung back to profit in the first quarter as ...
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