Japan's Sony Corp returned to an operating profit in the second quarter after a loss a year ago, helped by the sale of a chemicals business that offset weak demand for its TVs and other devices, and it kept its full-year profit guidance.
The July-September operating profit of 30.30 billion yen ($379.08 million) compared with a 1.64 billion yen loss a year ago, and was close to the average 33.8 billion yen profit estimated by five analysts surveyed by Thomson Reuters I/B/E/S.
The company recently completed the sale of its chemical business to state-backed Development Bank of Japan for 58 billion yen. Other asset sales may further inflate operating profit this business year.
Sony also kept its forecast for operating profit of 130 billion yen in the full year to March 31, 2013.
($1 = 79.9300 Japanese yen)
(Reporting by Tim Kelly; Editing by Ian Geoghegan)