TOKYO (Reuters) – Months after Sony Corp bought So-net, the broadband provider’s chief chided CEO Kazuo Hirai for having his “priorities in the wrong order”.
He told Hirai his focus should be on restructuring the struggling electronics conglomerate rather than spending time and effort buying a firm it had previously spun off, said a person familiar with the exchange.
TOKYO (Reuters) – Screen supplier Japan Display reported a stronger-than-expected rise in quarterly profit amid higher demand from Apple Inc and Chinese smartphone makers, in stark contrast with peer Sharp Corp’s shrinking panel business.
Japan Display said on Thursday operating profit for October-December climbed 80 percent from a year earlier to 14.7 billion yen ($122 million). Analysts on average had expected a profit of 14 billion yen, according to Thomson Reuters data.
TOKYO/STOCKHOLM (Reuters) – Canon Inc (7751.T: Quote, Profile, Research) made a 23.6 billion-Swedish-crown ($2.83 billion) offer for network video surveillance leader Axis AB (AXIS.ST: Quote, Profile, Research) on Tuesday — the biggest purchase ever for the Japanese firm trying to expand beyond a shrinking camera market.
Canon said it had launched a bid to buy all the Swedish company’s shares at 340 crowns apiece, a premium of nearly 50 percent to their closing price of 226.90 on Monday. At 1126 GMT (06:26 a.m. EST), shares of Axis were up 48 percent at 336.50 crowns.
TOKYO (Reuters) – Sony Corp’s (6758.T: Quote, Profile, Research) shares surged on Thursday to post their biggest daily gain in nine years after the consumer electronics and entertainment group lifted its full-year forecast, raising hopes its restructuring efforts were finally bearing fruit.
Backed by cost cuts and stronger sales of sensors and videogames, Sony on Wednesday trimmed its net loss estimate for the year through end-March and forecast a full-year operating profit instead of a loss.
TOKYO (Reuters) – In an industry dominated by Apple Inc APPL.O, Samsung Electronics Co (005930.KS: Quote, Profile, Research) and other Asian firms, the differing strategies used by Japan’s technology firms to try to cope have led to losses for some and profits for others.
On Tuesday, Osaka-based Sharp Corp (6753.T: Quote, Profile, Research) warned it will slip into its third annual net loss in four years, saying a supply glut squeezed sales of smartphone displays in China, the business line it had counted on for growth. Best known for the Aquos TV brand, it said it’s now rethinking its businesses.
TOKYO (Reuters) – Japanese electronics supplier Sharp Corp warned it will slip into its third annual net loss in four years as fierce pricing competition saps sales of smartphone displays, the business line it had been counting on for growth.
Reporting it reversed into a net loss for the quarter ended December, Sharp said on Tuesday it will rethink strategy as it expects to book a net loss of 30 billion yen ($256 million) this fiscal year, compared with the 30 billion net profit it previously forecast. Analysts surveyed by Thomson Reuters had expected a full-year net profit of 22.4 billion yen.
TOKYO, Feb 3 (Reuters) – Japanese electronics supplier Sharp
Corp warned it will slip into its third annual net loss
in four years as fierce pricing competition saps sales of
smartphone displays, the business line it had been counting on
Reporting it reversed into a net loss for the quarter ended
December, Sharp said on Tuesday it will rethink strategy as it
expects to book a net loss of 30 billion yen ($256 million) this
fiscal year, compared with the 30 billion net profit it
previously forecast. Analysts surveyed by Thomson Reuters had
expected a full-year net profit of 22.4 billion yen.
TOKYO/OSAKA (Reuters) – Japanese video game maker Nintendo Co on Wednesday issued a profit warning with a silver lining – even as it sells fewer consoles, the sharp weakening of the yen means overseas sales will inflate its net income this fiscal year.
The home of famed game characters like Mario the plumber said sales of its 3DS handheld device came up short in the year-end holiday season amid intense competition. While operating profit still grew nearly 50 percent in October-December from a year earlier, the third quarter is Nintendo’s biggest by far and it won’t make up the shortfall by end-March.
TOKYO/HONG KONG (Reuters) – Japanese trading house Itochu Corp and Thailand’s Charoen Pokphand Group (CP) said on Tuesday that they plan to jointly invest $10 billion in Citic Ltd, part of China’s oldest and biggest conglomerate.
Itochu and CP Group plan to take a joint stake of 20 percent in Citic Ltd, increasing their exposure to the world’s second-biggest economy even as it slows from the blistering growth of the past decade.
LAS VEGAS (Reuters) – Sony Corp CEO Kazuo Hirai has weathered a crisis over a cyberattack on its Hollywood studio and its controversial comedy “The Interview”, but his toughest moment may be just arriving as he prepares a new business revival plan.
After failing to turn around the storied creator of the Walkman since taking the helm in April 2012, Hirai and his deputies are now open to options including sales and joint ventures for its money-losing TV and mobile phone operations, company officials familiar with the leadership’s thinking say.