Sony will delay the release of its full-year earnings by about three weeks due to stricter U.S. accounting rules, the company said Wednesday.Sony had been due to release its earnings for the fourth quarter and full year, from April 2006 to March 2007, at the end of April but has decided to push this back to May 16.It blamed the delay on the tougher rules that have come into effect under the Sarbanes-Oxley Act, which also applies to foreign companies such as Sony that are listed in the United States. The law, which came into force in 2002, introduced strict financial reporting and corporate governance requirements. A larger amount of paperwork is required to comply with the act’s provisions, and that’s taking time, Sony said.Until several years ago, most Japanese IT companies announced their full-year earnings in mid-May. In recent years the Tokyo Stock Exchange has been trying to persuade companies to finalize their accounts within a month and announce their results in late April, just ahead of the weeklong “golden week” holiday in Japan. Hitachi said in February that it would also delay the release of full-year earnings until May. —Martyn Williams, IDG News Service (Tokyo Bureau) Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by DataStax Ask yourself: How can genAI put your content to work? Generative AI applications can readily be built against the documents, emails, meeting transcripts, and other content that knowledge workers produce as a matter of course. By Bryan Kirschner Dec 04, 2023 5 mins Machine Learning Artificial Intelligence feature The CIO’s new role: Orchestrator-in-chief CIOs have unique insight into everything that happens in a company. Some are using that insight to take on a more strategic role. By Minda Zetlin Dec 04, 2023 12 mins CIO C-Suite Business IT Alignment opinion Fortifying the bridge between tech and business in the C-suite To be considered a tech-forward company today, there has to be a focus on tech fluency across the C-suite, which creates a unique opportunity for CIOs to uplevel their roles and expand their footprint across the enterprise. By Diana Bersohn and Rachel Barton Dec 04, 2023 7 mins CIO Business IT Alignment IT Strategy brandpost Sponsored by G42 Understanding the impact of AI on society, environment and economy By Jane Chan Dec 03, 2023 4 mins Artificial Intelligence Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe