Sony, Toshiba fall on media reports

Sony Corp and Toshiba Corp fell in Tokyo trading after media reports the companies will record operating losses this fiscal year because of worsening electronics and chip operations.

Sony tumbled 8.9 percent to close at 2,000 yen on the Tokyo Stock Exchange, its steepest decline since Nov 6 Toshiba fell 8.6 percent to 385 yen, the biggest drop since Oct 24. The benchmark Nikkei 225 Stock Average slid 4.8 percent.

Falling sales of electronics including televisions in North America and Europe may push Sony's operating loss to about 100 billion yen ($1.1 billion) in the 12 months ending March 31, the Nikkei newspaper reported yesterday, without citing anyone.