Sony chief says major changes now complete

Sony chief executive Kazuo Hirai on Tuesday hailed a years-long company restructuring as a success, but said struggles in its movie business remain a “pressing issue”. The 56-year-old company veteran was tapped five years ago to lead a major overhaul at the once-iconic company, which was suffering from huge losses largely tied to a hard-hit consumer electronics business. After years of layoffs and asset sales, Sony is on track to report a 500 billion yen operating profit this fiscal year—its highest in two decades. “We’ve done significant work on downsizing or restructuring the business,” Hirai told reporters at a corporate strategy briefing.Sony’s bleeding television business is now back to profitability as the company now focuses on fewer models, with an eye on the high-end market.