TOKYO (Reuters) – Sony Corp said it is to cut around 10,000 jobs – 6 percent of its global workforce – as new CEO Kazuo Hirai moves to reduce costs and staunch huge losses at the Japanese electronics giant.
After a brief honeymoon since taking over from Howard Stringer this month, Hirai this week doubled Sony’s annual loss forecast to a record $6.4 billion, and is under pressure to fix an ailing TV unit and turn around a brand that has been trampled on by consumer gadget leaders Apple Inc and South Korea’s Samsung Electronics.
TOKYO (Reuters) – Shares of Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz), the inventor of personal music players, slid more than 7 percent on Wednesday after the company more than doubled its annual loss forecast, highlighting the plight of a Japanese TV industry that once dominated living rooms around the world.
Sharp Corp (6753.T: Quote, Profile, Research, Stock Buzz), Japan’s last big maker of TV liquid crystal displays, and local rival Panasonic Corp (6752.T: Quote, Profile, Research, Stock Buzz), also fell.
TOKYO (Reuters) – Japan’s Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, the Nikkei newspaper reported on Monday, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red.
The job cuts would be the latest downsizing in Japan Inc where companies from cellphone maker NEC Corp to electronics firm Panasonic Corp are trimming costs in the face of a strong yen and competition from rivals like Apple and Samsung Electronics.
TOKYO, April 5 (Reuters) – Japan’s top general retailer
Seven & I Holdings Co Ltd on Thursday forecast a second
straight year of record profit as the company targets a broader
demographic to drive domestic convenience-store sales and seeks
acquisitions in the United States.
Seven & I’s results will likely set the tone for similarly
strong earnings due next week from other retailers such as Aeon
Co Ltd, in contrast to heavy losses expected at
electronics makers such as Sony Corp and Panasonic Corp
TOKYO (Reuters) – Japanese Prime Minister Yoshihiko Noda frequently entertains dignitaries from all over the world, but he was a touch star-struck on Thursday when he hosted a young billionaire with a whiff of celebrity: Facebook chief executive Mark Zuckerberg.
As cabinet ministers filed through Noda’s residence for a late afternoon meeting, it was Zuckerberg who drew a fusillade of camera flashes from a hefty media contingent as he strode through the entrance like a movie star.
TOKYO (Reuters) – Sony Corp CEO Kazuo Hirai signaled his determination to turn around the group’s ailing TV business by keeping direct charge of the division, as the Japanese brand fights to regain ground against rivals such as Apple.
Hirai, who formally takes over as chief executive from Howard Stringer next week, inherits a company that – like much of corporate Japan – has been outgunned in recent years by rivals like Apple and Samsung Electronics.
TOKYO, March 27 (Reuters) – Sony Corp CEO Kazuo
Hirai signalled his determination to turn around the group’s
ailing TV business by keeping direct charge of the division, as
the Japanese brand fights to regain ground against rivals such
Hirai, who formally takes over as chief executive from
Howard Stringer next week, inherits a company that – like much
of corporate Japan – has been outgunned in recent years by
rivals like Apple and Samsung Electronics.
TOKYO, March 7 (Reuters) – Decades ago, the citizens
of Japan’s Futaba town took such pride in hosting part of the
Fukushima Daiichi nuclear complex that they built a sign over a
promenade proclaiming that atomic power made their town
Now, they are scattered around Japan with no clear sign of
when they might return to their homes, and their story has
become a cautionary tale about the dangerous allure of nuclear
TOKYO, March 2 (Reuters) – Japanese drugmaker Daiichi
Sankyo and British peer GlaxoSmithKline are to
form a 50-50 joint venture to bring new vaccines to Japan,
targeting an underdeveloped segment of the world’s
second-biggest prescription drug market.
News of the venture, which will likely create the top player
in the Japanese vaccine market, sent shares of Japan’s No.3
drugmaker to a four-month closing high on Friday.
TOKYO (Reuters) – Japan’s Olympus Corp proposed a new board of directors on Monday in an effort to recover from a $1.7 billion accounting fraud, but the line-up could face a hostile reception from foreign investors when it goes to a shareholder vote.
The maker of cameras and medical equipment said it had nominated an insider, executive officer Hiroyuki Sasa, to become president and former banker Yasuyuki Kimoto as chairman, subject to approval at its April 20 shareholders’ meeting.