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sony chief promises profitability, but is short on specifics


tokyo (ap) — sony’s leader promised a comeback for the japanese electronics and entertainment company having its best profitability in two decades.“we are a company that moves people,” said chief executive kazuo hirai, as he outlined the strategy for the company at its tokyo headquarters 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,” or iot, 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.most read storiesunlimited digital access. $1 for 4 weeks.hirai also told reporters another important area is sony’s tv sector, which has been in the black for the last few ye






sony pictures ceo search narrows with tony vinciquerra as front-runner


sony pictures entertainment is zeroing in on former fox networks head tony vinciquerra to replace michael lynton as its chief executive officer, according to three people familiar with the matter who were not authorized to comment publicly.lynton, who held the top spot at the japanese-owned entertainment company for 13 years, said in january he would step down to focus his efforts on snapchat maker snap inc., where he is chairman of the board.the culver city studio has not made an offer for the ceo position and the situation could change. an announcement is likely not expected for a couple of weeks, the knowledgeable people said.a sony spokesman declined to comment on vinciquerra’s front-runner status, reported earlier wednesday by variety. vinciquerra could not immediately be reached for






sony pictures ceo search narrows with tony vinciquerra as front-runner


sony pictures entertainment is zeroing in on former fox networks head tony vinciquerra to replace michael lynton as its chief executive officer, according to three people familiar with the matter who were not authorized to comment publicly.lynton, who held the top spot at the japanese-owned entertainment company for 13 years, said in january he would step down to focus his efforts on snapchat maker snap inc., where he is chairman of the board.the culver city studio is in the late stages of interviewing candidates and has not made an offer for the ceo position. sony would like to settle on a new leader by mid-may, according to several people familiar with the process.a sony spokesman declined to comment on vinciquerra’s front-runner status, reported earlier wednesday by variety. tokyo-based






sony chief promises profitability, but is short on specifics


tokyo — sony's leader is promising a comeback for the japanese electronics and entertainment company having its best profitability in two decades.chief executive kazuo hirai outlined the strategy for the company tuesday at its tokyo headquarters.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.hira told reporters another important area is sony's tv sector, which has been in the black for the last few years, after losing money for a decade.but he said he cannot give away details of products in the works such as those using artificial intelligence. he also said profits will be improved in smartphones and movies.






sony takes nearly $1-billion write down on struggling movie business


sony corp. has announced a nearly $1-billion write down on its movie business, an extraordinary step for the struggling studio. the tokyo-based tech and entertainment giant said monday that it took the impairment charge against its pictures segment after evaluating the future profitability of the movie business, which has lagged its competitors in recent years as it tried to recover from a m ive 2014 cyber attack. the disclosure comes just two weeks after the company said sony pictures entertainment chief executive michael lynton would step down from his job after 13 years with the studio. the charge will be recorded as an operating loss during the company’s third fiscal quarter that ended in december. in a memo to employees, sony corp. ceo kazuo hirai and lynton said the write down was pa






former fox executive tony vinciquerra is named chairman and ceo of sony pictures


sony pictures entertainment has named veteran media executive tony vinciquerra as its new chairman and chief executive officer, replacing michael lynton after months of speculation about who would lead the struggling studio.vinciquerra, 62, best known for his stint atop fox networks, will report to sony corp. ceo kazuo hirai when he takes the job june 1, the company said thursday.lynton, who led the studio through a crippling 2014 cyberattack, said in january that he would step down after 13 years as head of the japanese-owned entertainment company to focus his efforts on snapchat maker snap inc., where he is chairman of the board. snap held its initial public offering in march.vinciquerra, known for his strong management and dealmaking chops, had long been considered a top candidate for t






sony pictures gets a $1-billion 'wake-up call' amid a slump at the box office an


sony corp.’s decision to take a nearly $1-billion write-down on its movie business is an extraordinary step for a major hollywood player that highlights the deepening financial challenges facing the nearly century-old culver city studio.the tokyo-based tech and entertainment giant said monday that it decided to take the impairment charge after evaluating the future profitability of the movie business, which has lagged its competitors in recent years as it tried to recover from a m ive 2014 cyberattack. the non-cash charge will be recorded as an operating loss during the company’s fiscal third quarter that ended in december.the disclosure comes just two weeks after the company said sony pictures entertainment chief executive michael lynton will step down from a job he has held for 13 years.






sony records 84 pct quarterly profit drop on movie loss


tokyo — japanese electronics and entertainment company sony corp. reported thursday an 84 percent profit drop in october-december, as losses in its movie division offset healthy results in its video game business.tokyo-based sony, which makes the playstation 4 game machine and bravia tvs, reported a fiscal third quarter profit of 19.6 billion yen ($174 million), down from 120.1 billion yen the previous year.quarterly sales slipped 7 percent to 2.4 trillion yen ($21.3 billion), mainly because of unfavorable foreign exchange rates, the company said thursday.sony also lowered its full year fiscal profit forecast because of a $962 million write-down in its film division, stemming from its acquisition of columbia pictures in 1989.sony announced what's called "goodwill impairment," lowering the






'no chance' sony will sell its struggling movie studio despite losses, executive


sony corp. said thursday that is has ruled out a sale of its struggling movie studio, just days after declaring a nearly $1-billion write-down on the film and television business. the japanese electronics and entertainment giant promised to turn the culver city studio around after several painful years at the box office. the announcement appeared aimed at calming investors who have grown increasingly worried about the health of the company’s movie studio.“there is no chance we will sell,” said sony’s chief financial officer, kenichiro yoshida, on a conference call after the company reported its fiscal third-quarter earnings. “the pictures segment is an important business of sony.” the comments come in direct response to revived speculation that the studio would be put up for sale after son