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Sony Corp

BUSINESS
July 27, 2000 | From Associated Press
A one-time write-off in its movie business caused Sony Corp. to post an $810-million loss for the April-June quarter although sales were up overall. The loss in its fiscal first quarter contrasts with a net profit of $169 million in the same period last year. Excluding one-time items, Sony's consolidated operating profit for the quarter fell 20.1% to $309 million. Group sales of $14.3 billion were up about 5% from $13.6 billion a year ago, Sony said.
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BUSINESS
May 10, 2000 | JAMES BATES, TIMES STAFF WRITER
The shuffling of Sony Corp.'s executive deck this week in Tokyo carries a clear message: The action for the Japanese company is in electronics, the Internet and video games--not entertainment. Sony named Kunitake Ando its new president and chief operating officer, giving him day-to-day responsibilities to run the company's huge consumer electronics empire. It also puts him in line as the likely heir to Chief Executive Nobuyuki Idei, who handpicked Ando.
BUSINESS
May 16, 2001 | JON HEALEY, TIMES STAFF WRITER
Sony Corp. plans to include streaming audio and video technology from RealNetworks Inc. in hard disk drives for the PlayStation 2, enabling upgraded game consoles to offer subscription music services, movie rentals and personalized games. The deal, expected to be announced today, buttresses Sony's efforts to make the PS2 the hub of home entertainment. It also puts a significant Microsoft Corp.
BUSINESS
August 8, 1989 | STEVEN MUFSON, The Washington Post
On June 29, New York-born "Mickey" Schulhof got up at Sony Corp.'s shareholder meeting in Tokyo, bowed slightly and said the words he had memorized: "Watashiwa Michael P. Schulhof desu. Dozo yoroshiku onegai itashimasu." Or, in other words, "It is a great honor to become a director of this company and I will do my best in the service of the company." With that, Schulhof became the first American director of a major Japanese company.
BUSINESS
July 28, 2006 | From Reuters
Sony Corp. swung to a better-than-expected operating profit in its fiscal first quarter, propelled by robust sales of LCD televisions and digital cameras, a sign that its recovery is on track. A weaker yen also helped the electronics and entertainment conglomerate offset valuation losses at its life insurance unit and start-up costs for its PlayStation 3 game console. The Tokyo-based company's U.S.-traded shares rose 6% after the earnings were released.
BUSINESS
January 23, 2009 | times wire reports
Sony Corp. Chief Executive Howard Stringer acknowledged that he had not gone far enough with cost cuts and efforts to combine entertainment with electronics as his company projected its first annual loss in 14 years. "More has to be done and more can get done," Stringer said at Sony's Tokyo headquarters. "We have a long way to go." Sony said it would offer early retirement to employees at its TV division, seeking to trim personnel costs there by 30%. It is also slashing jobs at its movie, music and game businesses.
BUSINESS
February 20, 2006 | From Times Wire Services
Shares of Sony Corp., the world's second-biggest consumer electronics maker, fell early today in Japan after a report by Merrill Lynch & Co. said the release of the PlayStation 3 video game console might be delayed until as late as next year. The shares fell as much as 4.4% and ended the morning session down 2.2% at 5,380 yen ($45.57) in Tokyo. Sony, which had planned to start selling the console in Japan in the second quarter this year, may introduce the player there in the fall and in the U.S.
BUSINESS
January 31, 2007 | From the Associated Press
Just when Sony Corp. appears to have turned around its electronics business, another part of its sprawling empire -- video games -- is dragging down profit. The Japanese electronics and entertainment company Tuesday blamed the launching costs of its PlayStation 3 game console for much of the 5% drop in profit for the last three months of 2006 to 159.9 billion yen ($1.3 billion). The PS3 launched in the United States and Japan in November.
BUSINESS
June 21, 2003 | From Bloomberg News
Sony Corp.'s Nobuyuki Idei, the chief executive who has presided over a 29% decline in his company's stock this year, asked for patience from shareholders demanding improvements at the firm's electronics unit. Meeting individual shareholders Friday for the first time since Sony reported a fiscal fourth-quarter net loss of $938 million in April, Idei defended his performance.
BUSINESS
September 3, 2001 | From Bloomberg News
Sony Corp. said today it expects to weather the global economic slowdown without firing tens of thousands of workers, as its Japanese rivals must, because it is already cutting costs and has closed many of its factories. "We took those measures years ago," said Kunitake Ando, president of the second-largest consumer electronics maker. "We don't need to rush a restructuring like others are doing in such a hurry."
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