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Howard Stringer

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Is Sony un-Japanese enough to entertain change?

Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking value.Struggling electronics giant Sony Corp, though, with more foreign and fewer bank shareholders, may prove something of an exception. That's the hope, at least, of Californian billionaire Daniel Loeb, whose Third Point hedge fund has built up a more than 6 percent stake in Sony, making it the group's biggest stockholder.Loeb wants CEO Kazuo Hirai to sell as much as a fifth of the group's money-making entertainment arm - movies, TV and music - to free up cash to revive an electronics business that has been battered by competition from Apple Inc and Samsung Electronics. He reckons the shake-up could increase Sony's market value by 60 percent.The target and timing of his polite hand-delivered overture are not accidental.Sony earns two-thirds of its revenue overseas a...

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  1. Report: Sony to Cut 10K Jobs

    Sony (NYSE:SNE) will slash 10,000 jobs, or about 6% of its workforce, according to reports, as the Japanese electronics maker moves forward with an overhaul that wil...

  2. Panasonic Picks TV Head as New President, Record Loss Looms

    Japanese electronics conglomerate Panasonic Corp named Kazuhiro Tsuga, the head of its loss-making TV business, as its new president as the company heads for a recor...

  3. Sony's Hirai to Extend PlayStation Strategy, Be Tough on Costs

    Incoming CEO Kazuo Hirai aims to re-shape Sony Corp by linking hardware and software through online networks -- a model he used at its PlayStation unit -- dismissing...

  4. Panasonic Headed for $10.2B Annual Loss

    Japan's Panasonic Corp warned of a record annual $10.2 billion net loss, joining beleaguered rivals Sony and Sharp in a sea of red ink as they struggle to fix their ...

  5. Sony Sees $2.9B Loss, New CEO Warns of Pain

    Ailing Japanese electronics giant Sony Corp warned it was heading for a bigger-than-expected $2.9 billion annual loss, presenting a daunting task for incoming CEO Ka...

  6. Sony Anticipates $2.9B Annual Loss

    Ailing Japanese electronics giant Sony Corp warned it was heading for a bigger-than-expected $2.9 billion annual loss, presenting a daunting task for incoming CEO Ka...

  7. Photos Show Quad-Core iPad 3 With Wi-Fi, Global LTE Options

    A source claiming to be in possession of an iPad 3 prototype provided BGR with images containing details about Apple’s highly anticipated third-generation tablet. Fr...

  8. Hirai to Take Helm at Sony

    Sony Corp named Kazuo Hirai as Chief Executive, to succeed Howard Stringer at the helm of the iconic gadget maker as it struggles with persistant losses and stalled ...

  9. Sony Promotes Kazuo Hirai To Chief Executive

    Sony Corp. on Wednesday said it had promoted Kazuo Hirai, a veteran of the company's PlayStation division, to chief executive, in move seen as helping the company to...

  10. Sony , Fujifilm Top Rivals for Olympus Tie: Sources

    Sony Corp and Fujifilm Holdings are leading contenders for an equity stake in Olympus Corp , sources familiar with the situation said, as the scandal-hit medical equ...

  11. Sony warns of 4th annual loss; flags $2.2 billion TV loss

    By Isabel ReynoldsSony Corp surprised investors on Wednesday by warning it is heading for its fourth straight annual net loss and that its TV business alone would pr...

  12. Without Jobs, Apple's Rivals Could Catch Up

    The death of Apple's inspirational leader is likely to have a deep impact on the maker of the iPod , iPhone and iPad , giving major rivals a greater chance to catch ...

  1. Break Up Sony ? Well, Duh

    It must be seven or eight years since I wrote "My Last Sony," predicting the tech giant's downfall at the hands of overzealous chief executive Nobuyuki Idei and his ...

  2. Investor Pushes Sony to Take Entertainment Unit Public

    For years Sony Corp. (SNE) steadfastly defended the synergies of owning both an entertainment and an electronics operation. But the conglomerate's vision is being ch...

  3. Sony Urged to Take Entertainment Arm Public

    After years of steadfastly defending the synergies of owning both an entertainment and an electronics operation, Sony Corp's (6758.TO) vision of a content and hardwa...

  4. U.S. hedge fund calls for Sony Entertainment spin-off

    Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony Corp to spin off its lucrative entertainment arm, setting the stage for a clash between his act...

  5. 7 Heroes of Technology

    When people call the technology business fast-paced and competitive, I have to laugh. Unless you grew up in the high-tech industry, you really have no idea just how ...

  6. Sony says online network chief quits

    Sony Corp's network strategy chief, Tim Schaaff, will quit next month after leading the Japanese company's efforts to build a unified online content delivery platfor...

  7. Sony Sees Return to Profit, Aims to Halve TV Losses

    Sony Corp predicted a return to profit this year as it looks to halve the losses in its TV business that pushed the Japanese consumer electronics giant to a record l...

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