Sony Corporation - Future Tense?
| Case Code: HROB130 Case Length: 19 Pages Period: 2005-09 Pub Date: 2010 Teaching Note: Available |
Price: Rs.500 Organization: Sony Corporation Industry: Consumer Electronics Countries: Japan Themes: Corporate Culture, HR Restructuring, Leadership |
Abstract Case Intro 1 Case Intro 2 Excerpts
Sony Reports Loss
In May 2009, Japan-based multinational conglomerate, Sony Corporation (Sony) announced that it had posted its first full year operating loss since 1995 and only its second since 1958, for the fiscal year ending March 31, 20092.
Sony announced an annual loss of ¥ 98.94 billion; with annual sales going down by 12.9% to ¥ 7.73 trillion (Refer to Exhibit I for Sony's consolidated statements of income and Exhibit II for Sony's balance sheets for the financial years 2005 to 2009).
The company, which had reported a net profit of ¥ 369 billion for 2008, also warned that with consumers worldwide cutting back on discretionary spending in light of the recession, the losses could touch ¥ 120 billion for the year ending March 2010.
Sony had been a dominant player in the global consumer electronics industry since its inception in Japan in 1946. Over the years, it had introduced some path-breaking products including the Walkman and the PlayStation. However, by the early 2000s, it had lost its leadership position in some of its key products like televisions and media players.
In fiscal 2009, almost all its product lines were reporting losses (Refer to Exhibit III for operating income/loss by business segments of Sony Corporation).....
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