TOKYO, Japan – Japanese electronics and entertainment company Sony Corp reports earnings for the fiscal year ended March 31 on Thursday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Sony’s restructuring and cost cuts are paying off, with the company starting to rediscover its competitive edge. Once criticized for its sprawling businesses that seemed out of sync with each other, the company’s units are now collaborating more effectively under the helm of Chief Executive Howard Stringer.

Sales of TVs, games and PCs have been solid. Last month, mobile phone maker Sony Ericsson posted its first quarterly profit in nearly two years, boosted by gains from high-end devices such as smartphones. Bert Nordberg, CEO of the joint venture between LM Ericsson and Sony, said new devices including the smartphones Xperia X10 and Vivaz, which began shipping at the end of the first quarter, had been “well received” by the market.

BY THE NUMBERS: Sony is forecasting a 41 billion yen net loss (US$442.4 million), better than the previous year’s 98.9 billion loss. It predicts an operating profit of 32 billion yen on sales of 7.21 trillion yen. It upgraded its earnings estimates Monday, citing cost cuts and better performance in its consumer electronics business. In its previous forecast released in February, Sony projected an annual net loss of 70 billion yen and an operating loss of 30 billion yen.

ANALYST TAKE: Koto Ezawa, an analyst at Citigroup Global Markets Japan, has a “hold” rating on Sony shares. While its core network businesses are on the right track, its profit recovery may underwhelm the market’s “elevated” expectations, he said in a recent report.

Still, analysts applaud Sony’s ongoing transformation.

“We continue to view Sony’s brand and global marketing muscle as its trump cards,” Ezawa said. “The leadership of the management team and the speed of decision-making have also been outstanding lately.”

What’s ahead: Sony, along with rivals like Samsung Electronics Co and Panasonic Corp, is making big bets on 3-D. It plans to take the offensive this year with releases of 3-D compatible “Bravia” LCD TVs, Blu-ray disc players, personal computers and digital cameras. The company said it hopes that 10 per cent of the 25 million TVs it aims to sell this year will be 3-D.

Sony hopes to distance itself from rivals with its rich collection of content through its Sony Pictures and Sony Music units. It has teamed up with ESPN to film sports events in 3-D, and it recently announced a joint venture with Discovery Communications and Imax Corp. to establish the world’s first 3-D television channel.

STOCK PERFORMANCE: Sony shares have climbed 15 per cent this year, beating a flat performance by the Nikkei 225 stock average. The issue was up 0.5 per cent at 3,095 yen on Tuesday.