Paperwork burden sees Sony delay results
Company blames increased paperwork on US accounting rules
Japanese electronics giant Sony has been
forced to delay the announcement of its earnings results for the 2006/07 ending
31 March.
The company has blamed this delay on increased paperwork resulting from
tougher accounting rules in the US.
The
regulatory
filing has been delayed by a few weeks and will now be filed on 16 May.
Sony’s American depositary receipts are
traded on the New York Stock Exchange.
Further reading:
Accounting rules for SMEs published
‘Non-domiciled tax rules are racist’