Sony Corp. plunged in Tokyo trading after unexpectedly forecasting an annual loss, the sixth in seven years, casting further doubt on Chief Executive Officer Kazuo Hirai’s ability to revive the company.
Sony Corp. will probably put songs by Michael Jackson and Whitney Houston online in Japan through its streaming music service. The trouble will be finding listeners who haven’t bought them from Apple Inc. in the past seven years.
Akiko Hirai says the Hamaoka power station 3 kilometers (1.9 miles) from her home evokes such dread of the crippled Fukushima plant that she would spend $6,000 installing solar panels if it helped make Japan nuclear-free.
Sony Corp. lost $2.2 billion in market value today after Chief Executive Officer Kazuo Hirai cut his earnings forecast and posted a loss because of stalling demand for Bravia TVs, Cyber-shot cameras and Hollywood movies.
Nintendo Co. will spend as much as 125 billion yen ($1.2 billion) buying back shares after Christmas shoppers shunned its Wii U console and games featuring Mario and Zelda. The company rose in Tokyo trading.
Sony Corp. President Kazuo Hirai is relying on selling real estate to make the company’s first profit in five years as he struggles to find products able to compete with Apple Inc. and Samsung Electronics Co. devices.