After booking Y360 billion tax charge, Sony, the Japanese electronics joint recorded their second biggest net loss of Y260 billion for their last financial year, which ended on the 31st of March 2011.

At their operating level, they were reported to expect to meet their early forecasts for 2011 and report Y200billion annual profit, as the first estimate for the year to March 2012.

Sony has stated their decision to set aside reserves worth Y360 billion in the fourth quarter between January and March particularly on some “deferred tax assets” in Japan.

The company also stated that, the three years of net losses, along with business outlook in Japan, that they were unsure of, followed the March 11 disaster, and triggered the decision to cover “deferred tax assets” known as credits that can be used to deviate taxes on future profits.

The revision, which is said to be down, presents itself to be a reminder of the substantial effect of the earthquake and tsunami that hit Japan's northeast coast, on the company despite the fact that consumers and investors have been focusing more on the recent hacker attacks on its PlayStation Network.

The Japanese auto and electronics makers continue to encounter unasserted business outlook, as their recovery processes are highly dependent on parts and materials suppliers, who have also been affected by the quake.