Latest in Sony Corp

UPDATED, with comments from Tony Vinciquerra: Sony Corp said today that it has launched a $100M fund to support those affected by the coronavirus. Titled the Sony Global Relief Fund for COVID-19, the electronics and entertainment giant’s pledge will provide assistance in three areas: individuals engaged in frontline…

Daniel Loeb’s Third Point Capital revealed Friday that it’s acquired a chunk of ViacomCBS stock, but the hedge fund did not indicate whether it’s planning to move into activist mode in the way that’s caused headaches for Sony and other companies. In an SEC filing, Third Point indicated it had acquired 2.75 million…

Sony Pictures Entertainment has recorded a $51M profit for the third quarter ending December 31, 2019. This is down 50% from the $102M Q3 profit it saw in the comparable period of 2018 which had benefited from the global success of Venom. Sony cited overall lower revenues for its theatrical films in the quarter…

Sony Pictures Entertainment has posted a 73% jump in profits for the second quarter, snaring $366M during the July-September period. This is the third straight Q2 to see significant increases in the film segment, and is largely attributable to Marvel sequel Spider-Man: Far From Home and Quentin Tarantino's Once Upon A…

Sony Corp. has rejected a proposal by activist shareholder Daniel Loeb of Third Point Capital to spin off its semiconductor business in order to unlock value in its entertainment holdings. Third Point, which has accumulated $1.5 billion in Sony shares since 2013, sent an open letter to Sony’s board in June outlining…

Reversing a trend, Sony Pictures Entertainment has posted an uptick in its first quarterly report of fiscal 2019. Unveiling Q1 results in Tokyo on Tuesday, the electronics and entertainment giant said earnings at the film division rose to $3.7 million (400 million yen) versus a $68M loss in the comparable period last y…

Shares in Sony Corp. on the New York Stock Exchange climbed more than 3% Friday to close at $51.35 and rallied as much as 4% on Japan’s Nikkei after a new proposal by activist investor Daniel Loeb to break up the conglomerate. Loeb, whose Third Point hedge fund has accumulated a $1.5 billion stake in Sony since first…

Sony Corp is reporting its full year 2018 earnings from Tokyo this morning with a 30% hike in profits at the Pictures division to $489M. For the fiscal year ended March 31, 2019, the electronics and entertainment giant overall increased operating income by 22% to $8B. Sony Pictures Entertainment did see a 3%…

Notably boosted by the theatrical strength of Venom, Sony Pictures saw an improved third quarter for the fiscal year 2018, rising to 11.6B yen ($106.5M) in profits versus 10.5B yen in the comparable period of 2017. The Pictures division logged a 6% increase in sales to 276.7B yen ($2.54B) due in part to the muscular…

Sony Pictures Entertainment has posted a $209M profit for the July-September period, a significant increase on last year's similar quarter which logged $68M in earnings while last quarter saw a $68M loss. The jump is thanks in part to the robust global box office of Hotel Transylvania 3: Summer Vacation which has…

EXCLUSIVE: Sony Corp President and CEO Kenichiro Yoshida paid a visit to the Sony Pictures Entertainment lot today to meet with 75 senior leaders and managers from across the company and give more execs a chance to personally meet the chief. In a meeting that lasted around an hour after Yoshida was introduced by Sony…

In May this year, Sony said it had reached an agreement with a consortium led by Mubadala Investment Company to acquire the 60% stake in EMI Music Publishing held by the Abu Dhabi sovereign wealth fund. The $2.3B cash deal, which is subject to certain closing conditions and regulatory approvals, was to give Sony about…