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May 9, 2013 by · Leave a Comment 

Sony Corp has posted its first full-year profit in five years, attributing much of its turn-around to the box office successes of its film and home-video divisions. The company reported full-year income of $458 million versus a loss of $5.7 billion a year ago. In particular the company cited the box-office success of The Amazing Spider-Man and Skyfall, which contributed in large measure to a 40-percent rise in the movie unit’s operating profit to $509 million. The company also cited significant increases in revenue from sales to cable companies and from home entertainment. The company’s electronics unit continued to struggle, however, but losses were stanched partially by a sale of some assets. But Masaru Kato, Sony’s chief financial officer, told a news conference, “Selling assets wasn’t just about helping our balance sheet. It is part of a strategy to revamp our business portfolio.” He indicated that the company hopes to make a comeback by challenging Apple and Samsung in the area of mobile devices, an area it once dominated.