Sony Corp. Chief Executive Officer Kazuo Hirai apologized to investors after the company forecast a sixth loss in seven years, and he pledged that his restructuring efforts would fuel the electronics maker’s long-term growth.
The day after Sony Corp . named Kazuo Hirai the frontrunner to succeed Chief Executive Officer Howard Stringer , Japan’s strongest quake hit. Three weeks into the job, an intruder hacked into the company’s online services.
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.
Sony Corp. incoming Chief Executive Officer Kazuo Hirai said he will make “a hard, painful decision” to cut costs in the TV business and supply chain to turn around a company facing a fourth straight annual loss.