Hirai

Sony's troubles during the fiscal year ended March 31 were major -- and its latest financials bear that out.

The company today announced its fiscal-year earnings (PDF), revealing that its revenue slipped by 9.6 percent compared to last year, ending the period at $79.2 billion. What's worse, Sony's fiscal-year loss hit a record $5.55 billion, effectively making it the worst fiscal year in the company's storied history.

Still, Sony tried to keep a brave face on its earnings, saying that its sales declines were primarily due to unforeseen circumstances, including a strong yen, … Read more

Sony's slow but sure descent is also about Japanese companies' obsession with doing things their way, even if it's the wrong way.

I lived in Japan during the peak of its technological and manufacturing heyday -- from 1983 till 1993. The final eight years in Tokyo. Not only did I visit scores of Japanese electronics and computer companies as a journalist (and analyst) but I was also irresistibly drawn to (read: I spent way too much time in) Akihabara -- Japan's electronics retail Mecca at the time.

The reason for the success of companies like Sony and … Read more

The bad news just keeps coming for Sony.

The company informed investors today that a February forecast indicating the company would lose 220 billion yen ($2.7 billion) during the fiscal year that ended March 31 has been revised downward. Sony now expects to post a loss (PDF) of 520 billion yen ($6.4 billion).

Although the steep loss might worry investors who think things are worse than expected at Sony, the revision will not have an impact on the company's operations or cash flow. Instead, Sony has been forced to write off deferred tax credits due to the … Read more

Sony has been in some trouble for quite some time. But next week, the company's new chief executive hopes to allay fears and prove to investors that his new team is on the right track.

Sony's newly installed CEO, Kazuo Hirai, will be host a special event on April 12 to outline his strategy for the coming years. At this point, Sony hasn't divulged any piece of what Hirai will focus on, but it's quite likely he will discuss in far more detail plans for his "One Sony" initiative.

The One Sony initiative was … Read more

The winds of change continue to gust at Sony. The electronics and entertainment giant announced today that Sony Pictures Entertainment Chairman and CEO Michael Lynton will become CEO at Sony Corporation of America (SCA) on June 27.

Lynton's primary responsibilities will include overseeing Sony's vast entertainment empire, which includes Sony Pictures, Sony Music, and Sony/ATV Music Publishing.

"Michael is absolutely the right choice to succeed me as CEO of SCA," said Howard Stringer, who is leaving his posts as SCA chief and Sony Corp. chief. "He understands the vital importance of fulfilling Sony's … Read more

Sony's incoming chief executive, Kazuo Hirai, has been hard at work behind the scenes preparing his company for his arrival.

The consumer electronics giant today announced its "One Sony" business structure, which it says is designed to "establish rapid and optimized decision-making processes." Part of the plan involves installing executives to lead certain divisions, while another will shift the company's focus to "three core pillars" -- digital imaging, gaming, and the mobile market.

That might not come as a surprise to many investors and those who have followed Sony. The company recently … Read more

The Buzz crew talks about Facebook's historic IPO, and the challenges the company will face moving forward. Zynga is smiling, and so is the invite-only Pinterest. We've figured it out, and it's the new social network for girls or metrosexuals. "Into it, Not Into it" brings us vacuum-sealed couples, and that's all you need to know.

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BlackBerry London details leak, Sony gets a new leader, and Redbox thinks a deal with Warner Bros. is a stinker.

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Sony, having suffered through years of gaffes under CEO Howard Stringer, badly needed some change.

That change came today when Sony announced that Kazuo Hirai will become the company's new president and chief executive, effective April 1. Stringer put a good face on the change, saying that his company has been working on "succession plans" over the last few years and that Hirai is the ideal choice to take over Sony.

"Kaz is a globally focused executive for whom technology and the cloud are familiar territory, content is highly valued, and digital transformation is second nature,&… Read more