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Sony Corporation (SNE)

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  • Thu, Feb. 26, 5:26 PM
    • In continuing shakeups at the top after Amy Pascal's departure, Sony Pictures (NYSE:SNE) fires Digital chief Bob Osher, who was responsible for animation and visual effects.
    • Osher was a bit of a "dead man walking" after the Sony hack revealed mails that said Osher might have to be let go, and showed Sony recruiting others to take over animation last summer.
    • Sony Entertainment CEO Michael Lynton wrote in a (leaked) 2014 mail to Pascal: “We just renewed Bob which is also a problem given what we will probably have to do. That being said we should do it."
    • His responsibilities may go to Kristine Belson, recently hired away from DreamWorks to a new post as president of Sony Pictures Animation.
    • Previously: Sony Pictures names TriStar's Rothman to top job (Feb. 24 2015)
    • Previously: Pascal out as Sony motion picture chief; shares up (Feb. 05 2015)
    | 1 Comment
  • Tue, Feb. 24, 3:49 PM
    • Sony Pictures Entertainment (SNE +2.8%) has chosen Tom Rothman to chair its Motion Picture Group and replace Amy Pascal, who left her post under a cyberattack cloud.
    • He'll report to Michael Lynton, who has recommitted as CEO of Sony Entertainment.
    • Rothman -- whose strength is seen as fiscal responsibility -- prevailed over competitors including Mike DeLuca, Jeff Robinov, Sony Pictures Television chief Steve Mosko and Columbia Pictures chief Doug Belgrad.
    • While Rothman was most recently at TriStar, he spent more than a decade as co-chief of Twentieth Century Fox films before a surprise firing two years ago.
    • Unlike Pascal, Rothman won't oversee the TV business; that will be the purview of Mosko, who will report directly to Lynton.
    • Previously: Pascal out as Sony motion picture chief; shares up (Feb. 05 2015)
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  • Wed, Feb. 18, 2:48 AM
    • Compared with its operating profit forecast of ¥20B this year, earnings will reach ¥500B ($4.2B) starting in fiscal 2017, announced Sony (NYSE:SNE) Chief Executive Kazuo Hirai today. The company is also targeting a boost in its return-on-equity to above 10%.
    • The profit increase will be driven by Sony's turnaround with games, image sensors and entertainment, while cutting back on loss-making products including TVs and smartphones.
    • However, Sony still expects to report a net loss this year on a writedown of its smartphone unit.
    • SNE -6% AH
    | 4 Comments
  • Sun, Feb. 15, 8:28 AM
    • Sony (NYSE:SNE) is now the latest tech giant to invest in the car technology arena, buying a ¥100M stake in ZMP, a Japanese automated car tech start-up.
    • The two firms ultimately hope to develop self-driving car technologies by combining Sony's expertise in image sensors with ZMP's robotics know-how, FT reports.
    • On Friday, Apple was reported to be working secretly on creating an electric vehicle, although sources differ to whether this will include self-driving technology.
    • Regardless of its own ambitions, Sony expects its image sensor business to expand significantly from 2017 through 2030 due to increasing demand for automotive sensors.
    | 10 Comments
  • Tue, Feb. 10, 8:58 PM
    | 1 Comment
  • Tue, Feb. 10, 12:24 PM
    • After a split-rights situation that resulted in two different Spider-Man movie franchises disconnected from the "Marvel Cinematic Universe," Sony (NYSE:SNE) and Marvel (NYSE:DIS) have agreed to collaborate on future films with the character.
    • Marvel Studios President Kevin Feige will co-produce the next installment along with outgoing Sony Picture co-chairman Amy Pascal.
    • The next Spider-film, originally planned for this fall, will move to summer 2017 -- but Spider-Man will appear in an earlier film along with other Marvel characters, in-line with Marvel's strategy of building blockbusters like The Avengers with multiple characters.
    • Sony will maintain final creative ownership of the Spider-Man pictures and will finance and distribute them.
    • Marvel has 11 films set for release over the next five years and will delay four of them based on the Sony agreement.
    • To judge from recent projects, there's big money at stake for everyone: Sony's The Amazing Spider-Man 2 generated nearly $1B in global box office (part of a $4B franchise), and Marvel's Iron Man 3 produced $1.2B.
    • Previously: Pascal out as Sony motion picture chief; shares up (Feb. 05 2015)
    • Related: Disney And Sony Spider-Man Partnership Sets Up Blockbuster 2017 (Feb. 10 2015)
    • Press release
    | 14 Comments
  • Thu, Feb. 5, 12:48 PM
    • Beleaguered Sony Pictures Entertainment (SNE +2.9%) co-chair Amy Pascal is leaving her position for a new production venture, the company confirms.
    • Pascal was buffeted by the Sony cyberattack scandal in which personal e-mails were revealed, exposing some racial insensitivy and cracks in her relationship with producers, which tanked studio projects like the planned Steve Jobs biopic.
    • Succession is up in the air but may focus on Columbia Pictures President Doug Belgrad, TriStar's Tom Rothman, Mike DeLuca or Jeff Robinov.
    • Sony's annual box office improved despite the cyberattack.
    | 3 Comments
  • Wed, Feb. 4, 9:13 AM
    | 11 Comments
  • Wed, Feb. 4, 3:07 AM
    • Sony (NYSE:SNE) says its net loss for 2014 is likely less than previously forecast as higher-than-expected sales of its image sensors and PlayStation 4 products helped lift its Q3 profit.
    • The company now forecasts a preliminary full-year net loss of ¥170B, narrower than its October forecast for a net loss of ¥230B.
    • Preliminary results also show that net profit more than tripled during the quarter to ¥89B from ¥26.4B a year earlier, although Sony wasn’t able to complete its books for its Hollywood studio division due to the recent cyber attack.
    | 11 Comments
  • Tue, Feb. 3, 5:30 PM
  • Mon, Feb. 2, 6:16 PM
    • Sony (NYSE:SNE) has sold its Online Entertainment game studio/publishing arm, responsible for creating EverQuest and several other MMOs, to investment firm Columbus Nova for an undisclosed sum. The unit will now operate as an independent game studio under the Daybreak name.
    • The unit saw major layoffs in 2013. The sale is the latest in a string of divestitures and restructuring moves by Sony.
    | 1 Comment
  • Wed, Jan. 28, 3:52 PM
    • Sony (NYSE:SNE) is shuttering its Music Unlimited streaming service (had seen limited uptake, from all indications) in favor of an alliance with Spotify: The online music giant will power a new service called PlayStation Music, with the offering initially launching on the PS3, PS4, and Xperia phones/tablets.
    • PS4 users will be able to have Spotify music serve as the soundtrack for their games. The PS3 and PS4 respectively have installed bases above 80M and 18M.
    • Pandora (NYSE:P), already dealing with concerns about active listener growth and competition, has slumped below $17 following the news, which comes eight days before the company's Q4 report. Pandora has long argued Spotify's subscription streaming services aren't a major threat to its personalized Web radio services.
    | 25 Comments
  • Tue, Jan. 27, 2:57 PM
    • The Nikkei reports Sony (SNE -1.1%) plans to cut another 1K smartphone jobs, mostly in China and Europe. Smartphone layoffs of similar size were announced in October, and 1.5K Japanese job cuts (for various divisions) were announced last week.
    • The paper adds Sony's mobile unit will see its workforce cut by ~30% by March 2016, to 5K. The cuts are expected to be announced during the conglomerate's Feb. 4 FQ3 report.
    • With Sony facing tough high-end competition from Apple in Japan, and intensifying mid-range competition from Chinese OEMs elsewhere, the company's mobile revenue only rose 1.2% Y/Y in FQ2 to $2.83B. Its FY15 (ends March '15) smartphone unit forecast has been gradually cut to 41M from 50M.
    | 4 Comments
  • Fri, Jan. 23, 4:47 AM
    • Sony (NYSE:SNE) will delay the official submission of its third-quarter results due to the massive cyber attack on Sony Pictures, and has asked financial regulators to extend the filing of its report to Mar. 31 from Feb. 16.
    • The company will still hold a news conference on Feb. 4, the originally scheduled date of its results announcement, to give updated financial forecasts for the quarter.
    | 6 Comments
  • Wed, Jan. 21, 9:14 AM
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  • Wed, Jan. 21, 7:12 AM
    • Sony (NYSE:SNE) plans to eliminate 1.5K jobs in Japan
    • The cuts will be made through an early retirement program.
    • The company has a broad plan to remove 5K jobs across the globe by the end of March.
    • Previously: Sony to close stores in Canada (Jan. 16 2015)
    | 5 Comments
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Company Description
Sony Corp is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets as well as game consoles and software.
Country: Japan