Friday, May 6, 2011

Sony shares fall 2.3% after security breach

Sony shares ended lower as Tokyo's benchmark Nikkei index resumed trade after the Golden Week holiday.

The Japanese consumer electronics company fell as much as 4% in early trade, before ending 2.3% weaker.

The company admitted on 3 May that another 25 million users' data had been stolen in a second security breach.

Sony had previously said a security breach of its PlayStation Network had lead to 77 million users' data being stolen.

Sony boss Howard Stringer apologised to users "for the inconvenience and concern caused".

"I know this has been a frustrating time for all of you," Mr Stringer said in a statement on Sony's US PlayStation website.

He added there was no confirmed evidence any credit card or personal information had been misused.

Mr Stringer said Sony would restore online game services in the coming days, without specifying a date.

Ahead of Mr Stringer's statement some analysts had said security worries could hurt future sales and growth prospects.

"There is a real concern that trust in Sony's business will decline," wrote Kota Ezawa from Citigroup in Japan in a note.

Read more: http://www.bbc.co.uk/news/business-13304551

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