You will be redirected back to your article in seconds

No Change of Course, Kazuo Hirai Tells Sony AGM

Restructuring continues, but no sale for entertainment division.

HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division.

Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions.

He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed.

Last year the company was challenged by hedge fund activist Daniel Loeb to unlock more value from the unit.

In contrast, Sony is planning listings for a joint venture with China’s Shanghai Oriental Pearl, and for another JV in China that will contain Sony’s PC manufacturing activities.

The group is forecast to lose ¥50 billion ($495 million) in the current financial year.

“We will bear responsibility to complete restructuring in fiscal 2014, with a strong sense of crisis and without further delay,” Hirai said.

More Biz

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • Lucian Grainge

    Vivendi Prepping 'Potential' Stock Listing of Universal Music Group

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • Fauda Israeli TV Show

    Israel at 70: A Piece of Hollywood in the Middle East

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • Bob Iger Rupert Murdoch

    SEC Filing Reveals New Details on Disney-Fox Deal, and How Comcast Got Rejected

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

  • Beth MatthewsASCAP Pop Awards, Show, Los

    ASCAP Distributes $1 Billion to Members for the First Time

    HONG KONG – Kazuo Hirai, CEO of Sony, reiterated a decision not to sell off the Japanese group’s entertainment division. Hiai was speaking (June 19 at Sony’s annual general meeting in Tokyo and responded to questions. He said that the largely U.S.-based film and TV unit would neither be sold off nor separately listed. Last […]

More From Our Brands

Access exclusive content