Sony chief executive Kazuo Hirai on Tuesday hailed a years-long company restructuring as a success, but said struggles in its movie business remain a “pressing issue”.
The 56-year-old company veteran was tapped five years ago to lead a major overhaul at the once-iconic company, which was suffering from huge losses largely tied to a hard-hit consumer electronics business.
After years of layoffs and asset sales, Sony is on track to report a 500 billion yen operating profit this fiscal year — its highest in two decades.
“We’ve done significant work on downsizing or restructuring the business,” Hirai told reporters at a corporate strategy briefing.
“The major downsizing is complete.
“The biggest factor is that our consumer electronics bus…
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