March 11, 2011 |
Sony Corp. on Thursday announced the promotion of Kazuo Hirai, the head of its PlayStation and Vaio business, to assume control of its vast consumer electronics division. The move appeared to give Hirai, 50, a leg up in the four-way race to succeed Sony Chief Executive Howard Stringer, 69, who is expected to retire within two years. The other three candidates are said to be Hiroshi Yoshioka, Yoshihisa Ishida and Kunimasa Suzuki. Stringer had dubbed his lieutenants "The Four Musketeers.
June 30, 2011 |
Sony Corp. has promoted Andrew House to president and group chief executive of Sony Computer Entertainment Inc., the division that encompasses its PlayStation gaming business. House will report to Kazuo Hirai, who took on the title of chairman of the gaming division. Hirai will replace Akira Sato, who will retire Aug. 31. The promotions take effect Sept. 1. Sony also said Ken Kutaragi, the outspoken semiconductor engineer credited with creating the original PlayStation, retired Tuesday from his largely ceremonial role as honorary chairman of Sony Computer Entertainment.
June 29, 2011 |
Sony Corp. Chief Executive Howard Stringer's compensation fell 16% last fiscal year as the electronics and entertainment giant struggled to recover from the effects of the March 11 earthquake in Japan. Stringer's salary and bonuses for the fiscal year ended March 31 totaled 345 million yen, roughly $4.3 million, down from 408 million yen, or about $5 million, a year earlier, according to a report released Tuesday to Sony shareholders. Sony first began to report executive salaries last year in compliance with a Japanese law that went into effect in 2010.
April 9, 2012 |
Sony Corp.will cut 10,000 jobs, or 6% of its workforce, as the Japanese electronics conglomerate and its new chief executive try to wiggle back into the black. The company's new head, Kazuo Hirai, will confirm the reductions in what is sure to be a heavily watched briefing on Thursday, the country's Nikkei newspaper reported Monday . Hirai, who took over from Howard Stringer earlier this month, must attempt to steer Sony from its predicted fourth consecutive annual loss back to fighting form against stronger device-making rivals such asApple Inc. Much of the employee scale-backs will come from Sony's deeply unprofitable television business , which has been losing money for the better part of a decade to lower-cost competitors such as Samsung and Vizio.
August 2, 2012 |
For Sony Corp. , it was a another quarter of red ink. The Japanese consumer electronics and entertainment giant Thursday posted a wider loss its first quarter on slightly higher revenue as sales of its television sets and game consoles declined. Sony lost $312 million on $19.2 billion in revenue for the quarter ended June 30. A year earlier, Sony lost $196 million on $18.9 billion in sales. On a per-share basis, Sony recorded a 31-cent loss, compared with a 20-cent loss the year before.
February 3, 2012 |
Kazuo Hirai had little to celebrate after just being crowned the next chief executive of Sony Corp. Pummeled by a weak global economy, natural disasters and a strong yen that made its products more expensive overseas, Sony said it was on track to lose $2.86 billion in its current fiscal year, one of the Japanese technology and entertainment giant's worst annual results. The projected annual loss was more than double what Sony anticipated just three months ago when it forecast a $1.2-billion loss for its fiscal year ending March 31. Although the lion's share of the additional red ink - about $1.5 billion - would come from one-time charges from the sale of its stake in an LCD panel facility, foreign exchange fluctuations and other write-offs, about $181 million would be attributed to weakness in Sony's performance, analysts said.