Sony Corp. will cut $250 million in costs at its entertainment units over two years, part of Chief Executive Officer Kazuo Hirai’s plan to boost profit and keep full ownership of the movie, TV and music businesses.
Two weeks after Japan’s March 11 earthquake knocked out more than 650 of Toyota Motor Corp.’s suppliers, halting worldwide production, the automaker had to decide where to focus its resources. It picked the Prius.
Sony Corp. Chairman Howard Stringer ’s decision to make Kazuo Hirai his top lieutenant signals the company will accelerate plans to marry its content with hardware after its products lost ground to Apple Inc. and Samsung Electronics Co.
Sony Corp. promoted gaming chief Kazuo Hirai to oversee a new unit combining cameras, televisions and other consumer electronics, paving the way for him to succeed Howard Stringer as chief executive officer.