Sony has adjusted their business significantly over the years to operate in an environment with a rising Yen. Estimates for this year are $0.90 profit and those estimates were before any of the move in the currency. For every 1 point move in the USD to JPY ratio, SNY generates roughly $25 Million in additional annual profits. The yen has already moved 14 points off the low, which should drive $400 Million in additional profits (about $0.40 EPS).
I believe the currency can move to 120 which would be a huge benefit to Sony. I wrote about how I believe Sony is the buy of the year on Seeking Alpha if you are interested. I can't link it here but please check it out when you get a chance.
A move to 120 could be a boost of some $1 Billion in additional profits ($1.00 EPS). Plus a lower currency will make their prices more competitive so they could see some boost in demand. Additionally, they should extract quite a bit in cost savings from their restructuring. If they are able to cut just 1% of their total cost structure that would yield about $0.80 EPS in additional profits. All told I can envision a scenario where they are able to generate in excess of $3 EPS. That's why I believe this is a home run investment.
It's a funny thing when these huge multinational corporations go through restructurings and get currency tailwinds they tend to get huge benefits in EPS.