The value of the yen has been crashing for the last week or so, which causes minor drops in Japan to be amplified here short-term. Long term this is actually a good thing for sony. Also the Nikkei got hammered, possibly over territorial tensions with China.
Right on. Stronger yen is good for Sony's international sales since it translates into higher revenue for the quarter. On the other hand, the Nikkei to NYSE stock price conversion suffers. This morning SNE closed at 1847 yen which stood at 102.4 per $1 which gave us the price drop. If yen was at 97, we would be around $19 PPS.