Sony Corp. - after restating previous-quarter earnings and forecasting major losses in 2012 - announced a series of initiatives to be managed by a new management team, established on April 1.
The Japanese consumer electronics producer said it will implement a rapid decision-making approach that draws on the strengths of Sony Group as a whole, aiming to revitalize and grow its electronics business to and strengthen its Entertainment and Financial Service businesses.
Key initiatives in the transformation of the electronics business include:
* Strengthening core businesses (Digital Imaging, Game, Mobile)
* Turning around the Sony TV business
* Expanding in emerging markets
* Creating new businesses and accelerating innovation
* Realigning the business portfolio and optimizing resources
Sony will target sales of 6 trillion yen and operating income margin of 5% in its electronics business, and sales of 8.5 trillion yen, operating income margin of more than 5%, and return on equity of 10% for the Sony Group overall, in the fiscal year ending March 31, 2015 (FY14).
Details of these five core initiatives to revitalize the electronics business and drive new growth are as follows.
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