Sony president Kazuo Hirai (Kazuo Hirai) hopes the sale of real estate to achieve a profit for the first time in five years, because he faces difficult to find enough Apple and Samsung devices Expand competition plight.
As of the third quarter of the current fiscal year,
Japan's largest consumer electronics giant has been for a loss of eight quarters. Before the company again lowered its sales target for TVs, game consoles and compact cameras. For the entire fiscal year, Sony reiterated a previous forecast that full-year net profit of 20 billion yen (about U.S. $ 213 million), including $ 1.1 billion from the sale of a New York office building revenue. Measures to sell assets being rescued by Sony. "Said investment institutions Iwai Cosmo Holdings Inc analyst in Tokyo, Shimizu full tail (Mitsuo Shimizu). "It is unclear in the end what factors to begin to promote its growth."
In the As of December last year, the last quarter, Sony's net loss narrowed to 10.8 billion yen (about U.S. $ 115 million), the yen exchange rate fell sharply, partially offset by a TV sales decline brought the adverse effects of such adverse factors also caused by a blow to the earnings performance of Sharp and Panasonic. Kazuo Hirai is stripped part of the business, to cut 10,000 jobs to try to revitalize the TV business, this business is moving into the ninth consecutive year of annual losses.
"Sony needs to sell powerful, does not depend on the exchange rate changes." Said Yuuki Sakurai, president of Tokyo Wells Fargo Capital Management (Fukoku Capital Management). "Previously resume Sony to invest, we need to see those products."
Cut expected
As of March of the current fiscal year, Sony cut the portable game sales are expected to 700 million units from 10 million audience to the expected three months ago, in May last year, is expected to be 16 million units; television sales are expected to for 13.5 million units in May last year, is expected to be 17.5 million units.
The electronics industry is facing a "difficult" environment, said Sony CFO Kato excellent (Masaru Kato). According to the forecast of Sony, the loss of the company's TV manufacturing sector in the current fiscal year to 80 billion yen (about 860 million U.S. dollars), imaging and game departments operating profit will be "significantly" down.
Time in the first nine months of the current fiscal year, Sony's net loss of 50.9 billion yen (about U.S. $ 540 million), means that the company needs to be achieved in the fourth quarter to about 70 billion yen (about profit of $ 750 million) to complete the goal of the year. Sony is expected to be sold to real estate developer Chetrit Group New York office building will make the company's operating profit by about 64 billion yen (about U.S. $ 685 million), the transaction is expected to be completed in the next month.
Sony is also considering a possible sale of the choice of other assets, which some of the asset sale transaction has been included in the full year is expected, Sony spokesman Shiro Kambe said. Excellent Kato said Sony had already sold the land, business and securities held. Reuters quoted sources as remarks on January 10 reported that the 25-storey Tokyo office building, located through the sale of Sony will receive 100 billion yen (about 1.1 billion U.S. dollars) of income.
Restructuring charges
Sony has sold its a chemical production department and two display manufacturing joint venture shares, after the loss of the company's TV sales reached 692 billion yen (about 7.4 billion U.S. dollars).
Sony's third-quarter operating profit of 46.4 billion yen (about U.S. $ 500 million), compared with operating loss of 91.7 billion yen (about U.S. $ 1 billion); sales of 1.95 trillion yen (U.S. $ 209 billion U.S. dollars), higher than the same period last year to 1.82 trillion yen (about 19.5 billion U.S. dollars). Bloomberg survey shows the average of three analysts surveyed expect Sony's third-quarter net profit of 21 billion yen (about U.S. $ 200 million). The Sony restructuring charges of 16.7 billion yen ($ 200 million), more than tripled over the same period last year.
"Sony's earnings performance very disappointing," said Ichiro Takamatsu (Ichiro Takamatsu), Bayview Asset Management Fund Manager of the Asset Management Corporation of Tokyo, Japan, and the management of the company's total assets of about 150 billion yen (about $ 1.6 billion) . "The company has not enough restructuring of its business."
In the previous quarter ending in December last year, Panasonic unexpectedly to achieve a net profit of 61 billion yen (about U.S. $ 650 million), Sharp since the first time the operating profit in five quarters.
Weaker yen
Since the end of September last year, the yen has been in sharp decline, mainly due to the new prime minister, Shinzo Abe (Shinzo Abe) called for the adoption of "bold monetary policy to ward off deflation and depression yen. Depreciation of the yen will be able to improve sales in the second half of the fiscal year in Sony 130 billion yen (about U.S. $ 1.4 billion), operating profit increased by 17 billion yen (about 200 million U.S. dollars), said Kato excellent. "We do not have to rely on the weakening trend of the yen, but if this trend continues, will be in the next fiscal year, a substantial increase in our profitability."
Related decline in yen will push up earnings speculation has helped enhance Sony's share price, its Tokyo stock price rose nearly doubled in just two months time. Before the earnings report released today, Sony shares rose 2.6 percent to 1,519 yen (about $ 16.28).
Kazuo Hirai as Sony Chief Executive Officer in April last year, he is trying to revitalize the electronic business by focusing on mobile devices, games and digital imaging. He is to take measures to reduce their staff, and has promised to let's television sector returned to profitability in the next fiscal year starting from April 1. Sony's TV division is the world's third-largest TV maker.
Sony has also been adopted in November last year, the way of the sale the five-year convertible bonds to raise funds of 150 billion yen (about U.S. $ 1.6 billion), which is the company the first time since 2003, to offer this bond.
PlayStation conference
Sony mobile products department responsible for the production of Xperia smartphones and tablet PCs operating loss of 21.3 billion yen (about U.S. $ 228 million) than last year's operating loss of 48.4 billion yen (about U.S. $ 519 million) has been narrowing . Home entertainment sector (its covers TV department) operating loss of 80 billion yen (about $ 86 million) than the same period last year of 89.8 billion yen (about U.S. $ 960 million) has substantially narrowed.
Sony is introducing new products, hoping to attract users from the Apple iPad and Samsung Galaxy. Las Vegas Consumer Electronics Show (CES), held last month, Sony has launched a new high-definition TV, waterproof smartphone and more powerful digital camera. Sony also announced a plan to provide ultra-high-definition content from Sony Pictures, for TV users download.
Sony has announced that it will be held February 20 the once PlayStation press conference, which led to market speculation that the company will launch the fourth-generation PlayStation console. In addition, Sony also has medical equipment maker Olympus and gaming platform company Gaikai investment and investment in the production facilities of the image sensor.
The world's largest smart phone, TV and computer memory chip maker Samsung last month warned that the rise of the won exchange rate will cause damage to their profits. Samsung also said, the smartphone global demand growth is slowing. As of December last year, a quarter, Apple's profit growth rate hit its lowest level since 2003, and the reason is that they are not cheap smart phone, thus hindering the growth of the company in the emerging market.
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