The company lost 126 billion yen ($1.05 billion) in the fiscal year ended in March, but it expects to turn that around with a 140 billion yen profit next fiscal year.
Sony might have posted a loss for the fiscal year ended in March, but the company says that the future looks much brighter.
Sony said (PDF) on Thursday that it expects to post a profit in the fiscal year ended March 2016 of 140 billion yen ($1.2 billion), more than making up for the loss of 126 billion yen the company suffered for the fiscal year ended in March. That profit would be the first the company would tally since the fiscal year ended in 2013 and its biggest profit in seven years. It would also mark an important turnaround for a company that has been facing its fair share of troubles over the last couple of years.
Looking even further ahead, the company is predicting a $4.2 billion profit by the end of its 2017 fiscal year, ending in March 2018.
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