In all seriousness, Kaz hirai needs to GO ASAP. Sony leadership just looks inept, based on how they are currently run you wouldn't think sony at one point was one of the largest electronic hardware companies in the world. It has been error after error under Kaz.
| KuyaFrank said: Hopefully, they'll be alright. I mean, making a film like The Interview was a big risk and despite it's success, this happens... |
Bloomberg story from the 23rd. Don't know where this site got its information.
Sony Corp. (6758) is delaying the release of its final quarterly earnings, citing the disruption of accounting systems last year during a crippling cyber-attack on the company’s film studio.
The attack, which U.S. officials have blamed on North Korean hackers angered over the Seth Rogen spy-caper comedy “The Interview,” left the company unable to produce a full third-quarter report by the expected Feb. 16 deadline, Sony said. The company instead sought permission to file its final earnings statement March 31, last day of the fiscal year.
Sony still plans to update investors, analysts and the media on earnings and outlook “to the extent reasonably possible” for other units -- including smartphones and TVs -- while completing the accounting for Sony Pictures Entertainment. Critical financial and accounting applications at Sony Pictures Entertainment Inc. weren’t expected to be functional until early next month.
The Feb. 4 report would include October data for Sony Pictures and forecasts for November and December, a company spokesman said.
Chief Executive Officer Kazuo Hirai said earlier this month he believes the studio would emerge stronger after the cyber-attack, which exposed Hollywood secrets and led the company to initially cancel the release of “The Interview.” The studio expects to recoup the $60 million it spent on the film after a limited release online and in some theaters.
The FBI said North Korea was behind the attack, which rendered thousands of computers inoperable and forced Sony Pictures to take its entire network offline.
The total costs relating to the hack may be around 20 billion yen ($169 million), Amir Anvarzadeh, a manager of Japanese equity sales at BGC Partners Inc. in Singapore, wrote in an e-mailed report before the announcement. Amir recommends buying Sony’s shares.
The stock closed 4.8 percent higher at 2,737 yen in Tokyo today.
To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net; Grace Huang in Tokyo at xhuang66@bloomberg.net
To contact the editors responsible for this story: Michael Tighe at mtighe4@bloomberg.net Brendan Scott
| Train wreck said: Bloomberg story from the 23rd. Don't know where this site got its information. Sony Corp. (6758) is delaying the release of its final quarterly earnings, citing the disruption of accounting systems last year during a crippling cyber-attack on the company’s film studio. The attack, which U.S. officials have blamed on North Korean hackers angered over the Seth Rogen spy-caper comedy “The Interview,” left the company unable to produce a full third-quarter report by the expected Feb. 16 deadline, Sony said. The company instead sought permission to file its final earnings statement March 31, last day of the fiscal year. Sony still plans to update investors, analysts and the media on earnings and outlook “to the extent reasonably possible” for other units -- including smartphones and TVs -- while completing the accounting for Sony Pictures Entertainment. Critical financial and accounting applications at Sony Pictures Entertainment Inc. weren’t expected to be functional until early next month. The Feb. 4 report would include October data for Sony Pictures and forecasts for November and December, a company spokesman said. Chief Executive Officer Kazuo Hirai said earlier this month he believes the studio would emerge stronger after the cyber-attack, which exposed Hollywood secrets and led the company to initially cancel the release of “The Interview.” The studio expects to recoup the $60 million it spent on the film after a limited release online and in some theaters. The FBI said North Korea was behind the attack, which rendered thousands of computers inoperable and forced Sony Pictures to take its entire network offline. The total costs relating to the hack may be around 20 billion yen ($169 million), Amir Anvarzadeh, a manager of Japanese equity sales at BGC Partners Inc. in Singapore, wrote in an e-mailed report before the announcement. Amir recommends buying Sony’s shares. The stock closed 4.8 percent higher at 2,737 yen in Tokyo today. To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net; Grace Huang in Tokyo at xhuang66@bloomberg.net To contact the editors responsible for this story: Michael Tighe at mtighe4@bloomberg.net Brendan Scott |
The company, as of the 23rd, still plans to give information on other units on the 4th.
kowenicki said:
He did what Kaz failed to do for 2 years. The new guy just got on with it, exposed the crap, did the write down of good will and bit the bullet. He can now start with a cleaner base and build from there. I'm quite positive on Sony... so long as they ditch those effin' mobiles, a Kaz vanity product that needs to die like vaio did. |
Didn't you kind of prove my point? If a new guy can come in and get things done, something the CEO has failed to do, then the CEO needs to go.
true_fan said:
Didn't you kind of prove my point? If a new guy can come in and get things done, something the CEO has failed to do, then the CEO needs to go. |
Kaz and the board promoted Yoshida to the CFO position...
kowenicki said:
They didn't need a break. Just someone who had the balls to sort it out. The new financial guy is that man. |
They have a new financial guy? Lets hope he can fix the situation.
Well I guess that's fair. The Interview has ended up doing well considering it's limited release. It probably won't recover its costs but at least Sony didn't lose that much money on it.
NNID: FrequentFlyer54
kowenicki said:
He has already made big strides. He basically cut the crap, the smoke and mirrors and revealed all in the current years financials. Hence the large loss for this fy. |
So all he did was just show how much they're losing? Are you serious?
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