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Forums - Sony - Sony sells New York HQ for $1.1 billion, up 19% in 2 days

kain_kusanagi said:
Not good news. If they are this desperate it means things are worse behind closed doors than they are letting on. The only way for them to turn it around is to start selling TV at competitive prices.

wrong.  Did you guys not read what Kaz mention during his time at CES?  They are getting rid of non core assets (chemical business, joint ventures that do not make sense for them, some of its headquarters and its upcoming battery business) to focus on their core (gaming, TV, phones, electronics/media), you know the things that people constantly say sony needs to be in.



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Thats $1 billion from sale....against $140 billion of liabilitities...less than 4% of their debt. Let's hope they have some serious windfall from the Yen.



Train wreck said:
kain_kusanagi said:
Not good news. If they are this desperate it means things are worse behind closed doors than they are letting on. The only way for them to turn it around is to start selling TV at competitive prices.

wrong.  Did you guys not read what Kaz mention during his time at CES?  They are getting rid of non core assets (chemical business, joint ventures that do not make sense for them, some of its headquarters and its upcoming battery business) to focus on their core (gaming, TV, phones, electronics/media), you know the things that people constantly say sony needs to be in.

Riiiiight, as if the head of the company is going to admit to investors that it's as close to a fire sale as you can get without burning the company to ash.

 

Seriously, If the company wasn't in trouble they wouldn't be laying people off left and right and selling assets to pay debts and keep factories open. I hope it works and they get some budget priced HDTVs into Walmart so they can start making a profit like Visio. Things are clearly not going well, but maybe their strategy will pay off.

 



kain_kusanagi said:
Not good news. If they are this desperate it means things are worse behind closed doors than they are letting on. The only way for them to turn it around is to start selling TV at competitive prices.

It's not a bad news... every big companies do that like IBM, Microsoft, etc... It's easy to rent the place because all the adminstration is passed to the owner.



ethomaz said:
kain_kusanagi said:
Not good news. If they are this desperate it means things are worse behind closed doors than they are letting on. The only way for them to turn it around is to start selling TV at competitive prices.

It's not a bad news... every big companies do that like IBM, Microsoft, etc... It's easy to rent the place because all the adminstration is passed to the owner.


Yes it is. Companies don't sell the building they own so they can rent it unless they need the money. How many people did Sony layoff last year, I now it was in the tens of thousands. They've been in the red than I've had my PSP. And the PSP Vita isn't doo so hot either.

Look, I'm not saying they've driven off the cliff. All this could be a genius plan to make a killer comback. But right now it's looking desperate. If they don't start selling TVs for less than Visio people are going to keep walking out of Walmart without Sony TVs. If Sony starts selling budget TV and gets back into the black I'll be happy to know that I'll be able to play the next Team Ico game. But right now things are looking good.



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Tarumon said:
Thats $1 billion from sale....against $140 billion of liabilitities...less than 4% of their debt. Let's hope they have some serious windfall from the Yen.

Well im sure a company that is in the process of a turnaround will address its liability problem at some point, im sure you want nothing more for Sony to continue with its status quo and be bankrupt within 2 years.

As for the Yen windfall, Im sure Sony will benefit, they forcasted march 2013 earnings back in the summer of 2012 when the yen was at what 74? Its 90 now and will probably hit par sometime in the next two quarters.  At last check for each yen decrease against the dollar Sony get $25 -30 million in operating profit, so you are talking $420 million in dollar terms, dont even how much a gain will be in euros and that move is even greater, and they receive the majority of their sales there.



kowenicki said:

The market isn't responding to the building sale. It is responding to the CEO statement of yesterday.

Anyway, I expected a profit this quarter anyway, and this has assured a profit for the next quarter I guess.

We'll have to look beyond this transaction to see what's going on in the numbers.


Wouldn't this apply to Q4 not Q3? Do you anticipate profits for Q3? And Q4? What about the year? Kaz was shooting for this to be his proofing period amidst all these large changes; reducing business operations, selling portions, and boosting sales/profitable software/hardware.

So far their investment and market expansion has been pretty interesting. Not sure if some of that will translate to too many expenditures to hit overall profit this year though. When is the Yen supposedly going to drop this year? Before Sony's fiscal year end?



Before the PS3 everyone was nice to me :(

Chark said:

Wouldn't this apply to Q4 not Q3? Do you anticipate profits for Q3? And Q4? What about the year? Kaz was shooting for this to be his proofing period amidst all these large changes; reducing business operations, selling portions, and boosting sales/profitable software/hardware.

So far their investment and market expansion has been pretty interesting. Not sure if some of that will translate to too many expenditures to hit overall profit this year though. When is the Yen supposedly going to drop this year? Before Sony's fiscal year end?

It's for the quarter ended in March, 2013... I think Kowen said this quarter in reference to Jan to Mar quarter.



kain_kusanagi said:


Yes it is. Companies don't sell the building they own so they can rent it unless they need the money. How many people did Sony layoff last year, I now it was in the tens of thousands. They've been in the red than I've had my PSP. And the PSP Vita isn't doo so hot either.

Look, I'm not saying they've driven off the cliff. All this could be a genius plan to make a killer comback. But right now it's looking desperate. If they don't start selling TVs for less than Visio people are going to keep walking out of Walmart without Sony TVs. If Sony starts selling budget TV and gets back into the black I'll be happy to know that I'll be able to play the next Team Ico game. But right now things are looking good.


Honestly, I haven't seen Sony TVs in Walmart for quite some time...maybe smaller ones still. Walmart sells on shifted units, which is a bad sign and also explains difficulty breaking back into stronger TV sales figuring Walmart probably moves a lot of units.

Does anyone have an idea what Sony's HDTV plans are in regards to cost and quality? Are they boosting quality? Or creating them cheaper? Because with their new 4K OLED market it is looking like they are planning on providing the best quality and biggest models of that market while partnering with Panasonic who will aim lower on the quality spectrum. I think LG is another company bringing 4K, not sure where they fit in. Not seen anything regarding Samsung.



Before the PS3 everyone was nice to me :(

ethomaz said:

It's for the quarter ended in March, 2013... I think Kowen said this quarter in reference to Jan to Mar quarter.


Yeah, I'm just not thinking because we are still waiting on their Q3 report. I want to know now damn it.



Before the PS3 everyone was nice to me :(