Kazuo Hirai

Kazuo Hirai Title: Sony Corp.'s corporate executive officer will become its president and chief executive officer April 1. Age: 51 Education: bachelor of liberal arts, International Christian University in Tokyo, 1984 First job at Sony: junior music marketing executive at CBS/Sony Inc., now called Sony Music Entertainment Japan PlayStation years: joined Sony's computer and video game division in 1995; promoted as president...

Sony Corp. Chairman Howard Stringer will retire from the Tokyo-based media and electronics conglomerate in June. The 71-year-old former chief executive and president of the company made the announcement in a speech to the Japan Society in New York on Friday. In the speech, Stringer said that he planned to focus on "new opportunities," including philanthropic work in the fields of medicine and education. "So I will remain busy, though perhaps not such a frequent flier on Japan Air Lines," Stringer said, adding that he would continue to serve as chairman of the American Film Institute.

Kazuo Hirai, whose 28 years at Sony Corp. steeped him in the gaming and music businesses as well as the consumer electronics side, has been appointed the struggling company's next president and chief executive. Hirai's promotion is effective April 1, the beginning of Sony's next fiscal year. The 51-year-old executive will succeed CEO and President Howard Stringer, who will remain as chairman. Hirai joined Sony in 1984, fresh out of college. His first job was as a junior marketing executive at a joint music venture owned by CBS and Sony in Japan.

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.

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.

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.

Sony Corp., anxious to leave behind a year plagued by floods, earthquakes, economic turmoil and a record $5.6-billion loss, vowed Thursday to return to profitability this year. The Japanese consumer electronics and media giant forecast that it would increase revenue 14% and post a modest $366-million profit this fiscal year, thanks to aggressive cost-cutting and top-to-bottom reorganization that would de-emphasize its once-dominant television business and focus on more profitable products.

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.

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.

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.

Sony Corp., anxious to leave behind a year plagued by floods, earthquakes, economic turmoil and a record $5.6-billion loss, vowed Thursday to return to profitability this year. The Japanese consumer electronics and media giant forecast that it would increase revenue 14% and post a modest $366-million profit this fiscal year, thanks to aggressive cost-cutting and top-to-bottom reorganization that would de-emphasize its once-dominant television business and focus on more profitable products.

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.

Sony Corp. is tapping its Hollywood studio chief, Michael Lynton, as its top entertainment executive in the U.S., the latest development in a well-orchestrated succession plan atop the Japanese electronics and media giant. Lynton will soon be named chief executive of Sony Corp. of America, a role that adds oversight of the company's music sales and publishing businesses to his purview, according to people briefed on the matter but not authorized to speak publicly. He will continue to run movie and television studio Sony Pictures Entertainment in Culver City, although Sony's American unit is headquartered in New York.

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.

Kazuo Hirai, whose 28 years at Sony Corp. steeped him in the gaming and music businesses as well as the consumer electronics side, has been appointed the struggling company's next president and chief executive. Hirai's promotion is effective April 1, the beginning of Sony's next fiscal year. The 51-year-old executive will succeed CEO and President Howard Stringer, who will remain as chairman. Hirai joined Sony in 1984, fresh out of college. His first job was as a junior marketing executive at a joint music venture owned by CBS and Sony in Japan.

Kazuo Hirai Title: Sony Corp.'s corporate executive officer will become its president and chief executive officer April 1. Age: 51 Education: bachelor of liberal arts, International Christian University in Tokyo, 1984 First job at Sony: junior music marketing executive at CBS/Sony Inc., now called Sony Music Entertainment Japan PlayStation years: joined Sony's computer and video game division in 1995; promoted as president...

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.

Sony Corp. is tapping its Hollywood studio chief, Michael Lynton, as its top entertainment executive in the U.S., the latest development in a well-orchestrated succession plan atop the Japanese electronics and media giant. Lynton will soon be named chief executive of Sony Corp. of America, a role that adds oversight of the company's music sales and publishing businesses to his purview, according to people briefed on the matter but not authorized to speak publicly. He will continue to run movie and television studio Sony Pictures Entertainment in Culver City, although Sony's American unit is headquartered in New York.

Sony Corp. posted a $350-million loss in its second quarter as sales of LCD televisions and other products in its flagship consumer electronics business deteriorated worldwide, reversing a year-earlier profit of $398.5 million, the company announced Wednesday. The red ink is expected to bleed into Sony's full fiscal year, which ends in March, resulting in a $1.2-billion loss. It previously had projected a $769-million gain. Kazuo Hirai, the senior Sony executive expected to succeed Chief Executive Howard Stringer, vowed to cut losses, particularly in the consumer electronics division.

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.