Latest in Sony Corp

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…

Sony Corp is reporting first quarter earnings this morning in Tokyo with Sony Pictures Entertainment posting a $68.3M loss for the April-June period. This marks an improvement on 2017's $86.2M Q1 loss, which in turn had improved on the previous year’s comparable quarter. Sony says the advance is thanks to a decrease…

Aided by the performance of box office hits Spider-Man: Homecoming and Jumanji: Welcome To The Jungle, Sony Pictures Entertainment recorded a full-year profit of $376M (41.1B yen) compared to a $719M loss in 2016. Revenues in the division increased 12% to $9.25B (1.011B yen), the Japanese conglom said today in…

Sony Corp. stock soared today following the news that Chief Executive Kaz Hirai is stepping down from the helm of the Japanese corporation, to be succeeded by Chief Financial Officer Kenichiro Yoshida. Wall Street observers say the stock movement is a sign of investor speculation that this changing of the guard might…

In a surprise announcement Friday afternoon Tokyo time, Sony Corp said that Kazuo Hirai would step aside as President and CEO of the electronics giant, taking up the role of Director Chairman. He will be replaced in running the company by longtime Sony executive Kenichiro Yoshida whom he called a “confidante and…