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A company behind the commercialization of lithium-ion battery,[136] Sony had been exploring the possibility to manufacture the batteries for electric vehicles.[137][138][139] In 2014, Sony participated within NRG Energy eVgo Ready for Electric Vehicle (REV) program, for EV charging parking lots.[140] However, the company then decided to sell its lithium-ion battery business to Murata Manufacturing in 2016.[141]
The IT giants such as Google (Google driverless car/Waymo) and Apple (iCar/Project Titan) have been working on electric vehicles and self driving cars, competing with A company behind the commercialization of lithium-ion battery,[136] Sony had been exploring the possibility to manufacture the batteries for electric vehicles.[137][138][139] In 2014, Sony participated within NRG Energy eVgo Ready for Electric Vehicle (REV) program, for EV charging parking lots.[140] However, the company then decided to sell its lithium-ion battery business to Murata Manufacturing in 2016.[141]
The IT giants such as Google (Google driverless car/Waymo) and Apple (iCar/Project Titan) have been working on electric vehicles and self driving cars, compet
The IT giants such as Google (Google driverless car/Waymo) and Apple (iCar/Project Titan) have been working on electric vehicles and self driving cars, competing with Tesla; Sony was considered to be following suit with an $842,000 investment in ZMP INC.[142][143] In January 2020, Sony unveiled a concept electric car at the Consumer Electronics Show, named Vision-S, designed in collaboration with components manufacturer Magna International.[144] At the occasion, Sony also stated its goal of developing technology for the automotive sector, especially concerning autonomous driving, sensors, and in-car entertainment.[145]
Sony is a kabushiki gaisha registered to the Tokyo Stock Exchange in Japan and the New York Stock Exchange for overseas trading. As of 31 March 2020, there are a total of 423,556 shareholders and 1,261,058,781 shares issued. A majority of issued shares are held by foreign institutions and investors.[146]
- Citibank (as depositary bank for net cash reserves of ¥1.8 trillion.[147]
The company was immensely profitable throughout the 1990s and early 2000s in part because of the success of its new PlayStation line. The company encountered financial difficulty in the mid- to late-2000s due to a number of factors: the global financial crisis, increased competition for PlayStation, and the devastating Japanese earthquake of 2011. The company faced three consecutive years of losses leading up to 2011.[148] While noting the negative effects of intervening circumstances such as natural disasters and fluctuating curr
The company was immensely profitable throughout the 1990s and early 2000s in part because of the success of its new PlayStation line. The company encountered financial difficulty in the mid- to late-2000s due to a number of factors: the global financial crisis, increased competition for PlayStation, and the devastating Japanese earthquake of 2011. The company faced three consecutive years of losses leading up to 2011.[148] While noting the negative effects of intervening circumstances such as natural disasters and fluctuating currency exchange rates,[148] the Financial Times criticized the company for its "lack of resilience" and "inability to gauge the economy."[148] The newspaper voiced skepticism about Sony's revitalization efforts, given a lack of tangible results.[148]
In September 2000 Sony had a market capitalization of $100 billion; but by December 2011 it had plunged to $18 billion, reflecting falling prospects for Sony but also reflecting grossly inflated share prices of the 'dot-com bubble' years.[149] Net worth, as measured by stockholder equity, has steadily grown from $17.9 billion in March 2002 to $35.6 billion through December 2011.[150] Earnings yield (inverse of the price to earnings ratio) has never been more than 5% and usually much less; thus Sony has always traded in over-priced ranges with the exception of the 2009 market bottom.
On 9 December 2008, Sony Corporation announced that it would be cutting 8,000 jobs, dropping 8,000 contractors and reducing its global manufacturing sites by 10% to save $1.1 billion per year.[151]
In April 2012, Sony announced that it would reduce its workforce by 10,000 (6% of its employee base) as part of CEO Kaz Hirai's effort to get the company back into the black. This came after a loss of 520 billion yen (roughly US$6.36 billion) for fiscal 2012, the worst since the company was founded. Accumulation loss for the past four years was 919.32 billion-yen.[152][153] Sony planned to increase its marketing expenses by 30% in 2012.[154] 1,000 of the jobs cut come from the company's mobile phone unit's workforce. 700 jobs will be cut in the 2012–2013 fiscal year and the remaining 300 in the following fiscal year.[155] Sony had revenues of ¥6.493 trillion in 2012 and maintained large reserves of cash, with ¥895 billion on hand as of 2012. In May 2012, Sony's market capitalization was valued at about $15 billion.[156]
In January 2013, Sony announced it was selling its US headquarters building for $1.1 billion to a consortium led by real estate developer The Chetrit Group.[158]
On 28 January 2014, Moody's Investors Services dropped Sony's credit rating to Ba1—"judged to have speculative elements and a significant credit risk"—saying that the company's "profitability is likely to remain weak and volatile."[159]
On 6 February 2014, Sony announced it would trim as many as 5,000 jobs as it attempts to sell its PC business and focus o
On 28 January 2014, Moody's Investors Services dropped Sony's credit rating to Ba1—"judged to have speculative elements and a significant credit risk"—saying that the company's "profitability is likely to remain weak and volatile."[159]