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.
Sony Corp. President Kazuo Hirai is paying the price for trying to revive ailing TV and smartphone sales, with more than $2 billion of market value lost today, as his counterpart at Panasonic Corp. benefits from paring those units as it struggles to compete.
Japanese companies from Toyota Motor Corp. to Sony Corp. are poised to report earnings that will provide evidence on whether Prime Minister Shinzo Abe’s policies are leading to a sustained economic recovery.
Applied Materials Inc. Chief Executive Officer Gary Dickerson has cut deals throughout his career in the semiconductor industry. In landing his biggest purchase, he’s even moving his family to Tokyo from California, people with knowledge of the matter said.
The yen may rise toward a postwar record of 75 versus the dollar if the Federal Reserve goes ahead with easing policies that will further debase the greenback, according to Fukoku Capital Management Inc.