Sony’s leader pledges profitability
But he declines to reveal details on products in the works
TOKYO — Sony’s leader promised a comeback for the Japanese electronics and entertainment company, which is having its best profitability in two decades.
“We are a company that moves people,” said Chief Executive Officer Kazuo Hirai as he outlined the strategy for the company at its Tokyo headquarters on Tuesday.
But he said he cannot give away details of products in the works, such as those using artificial intelligence or the “Internet of things” technology.
He stressed the profitability in sprawling Sony Corp., including its lucrative PlayStation video-game business, which just came out with a popular virtual-reality headset.
Hirai told reporters that another important area is Sony’s TV sector, which has been in the black for the past few years after losing money for a decade.
He also said profits will be improved in smartphones and movies.
Hirai, who took leadership of the company five years ago, acknowledged that Sony has never in its seven decades experienced extended periods of profitability.
He stressed that Sony has announced an ambitious goal of achieving operating profit of $4.5 billion for the fiscal year ending in March 2018.
Sony’s woes have stemmed from having so many diverse areas that it has been almost impossible to do well across the board.
When questioned on how
profitability will be gained in the movies division, Hirai said he hoped to get a hit by working with creators with a good “batting average,” and to take advantage of hit content it already has, such as the Spider-Man series.
But the major task of restructuring has been completed, he added. Sony has been selling its assets to ensure profitability, including its Vaio personal computer business. That was needed because Sony could not hope to be unique in personal computers, Hirai said.
Sony should benefit from Japan’s five consecutive quarters
of economic growth — the longest run in a decade — all driven by exports. Imports also picked up in April, notching the biggest gain in more than three years in March. The swell in trade indicates an increasingly healthy global economy.
Shipments to China, Japan’s largest trading partner, are surging.
“When the global economy is going strong, exports to China grow,” said Yasutoshi Nagai, chief economist at Daiwa Securities Co. in Tokyo. “That picture remains the same.”
Exports to the U.S. rose 2.6 percent from a year earlier.