Sony shares drop on earnings delay

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Shares of consumer electronics giant Sony closed down 6% in Monday trade. The company announced late last Friday that it would postpone its earnings release date to next month.

The delay was due to uncertainty over the supply chain from two earthquakes which recently hit southwest Japan. Sony was initially scheduled to release its earnings this week.
Traders in Japan were also cautious ahead of an important Bank of Japan meeting where the lender might decide on more monetary easing.
The country’s central bank will on Thursday decide on its interest rate which currently is negative as an attempt to spur growth.

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