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Tag: Sony Corporation

  • Bharti Airtel, Reliance Jio eye stake in ZEEL: Report

    Bharti Airtel, Reliance Jio eye stake in ZEEL: Report

    MUMBAI:  After it came to light that Sony Corporation had withdrawn its bid for a stake in Zee Entertainment Enterprises Ltd (ZEEL), Indian telecom giants Bharti Airtel and Reliance Jio are likely to bid for the same, according to a report by press agency IANS.

    While Bharti Airtel has moved ahead and is likely to initiate a formal proposal, Reliance Jio is still considering the move.

    In a statement, a Bharti Airtel spokesperson said, "Airtel is not in the race to acquire Zee.” A representative for Zee said the company doesn’t comment on speculation though it is in “steady dialogue” with potential partners.

    Discussion between Japan’s Sony Corporation buying 20 to 25 per cent stake in the Subhash Chandra-led Zee Entertainment Enterprises Ltd (ZEEL) had been scrapped due to valuation differences.

    The development has cleared the way for a consortium of US telecom conglomerate Comcast along with its partner investment firm Atairos to take over the talks.

    Chandra has been looking to sell a stake in the company in order to repay promoter debt worth Rs 13,000 crore.

  • Comcast, Sony in the running for ZEEL stake?

    Comcast, Sony in the running for ZEEL stake?

    MUMBAI: In the latest financial results, Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka mentioned that the company has narrowed down its search for a partner to divest up to 50 per cent stake in the company, an announcement it made in November 2018. Now, according to an unconfirmed news report by CNBC TV18, the ZEEL promoters  are in the US reportedly negotiating with  Comcast and Sony  for a stake sale.

    Both the companies have given bids in the range of Rs 540-560 per share, says the CNBCTV18 report, which is 24 per cent higher than the closing price of Thursday, 15 February. The agreement is likely to be concluded this week.

    As of 31 December, ZEEL promoters hold 41.62 per cent share in the company. It seems that ZEEL promoters are now willing to share more than 50 per cent stake.

    The report also says that Alibaba, Tencent and Amazon were also in the race for ZEEL’s OTT platform ZEE5.

    The Subhash Chandra-led ZEEL reported 17.9 percent year-on year (y-o-y) growth with operating revenue at Rs 2,166.77 crore for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the Rs 1,838.07 crore for the corresponding year ago quarter Q3 2018. EBITDA for the quarter under review increased 26.9 percent y-o-y to Rs 754.29 crore from Rs 594.42 crore.

  • Sony increases its stake in Sony Financial

    Sony increases its stake in Sony Financial

    MUMBAI: Sony Corporation has raised its stake in Sony Financial Holdings from 63 per cent. The latter is the holding company for Sony’s financial services business. However, the total per cent of stake that Sony will now hold in its financial department is still unknown. 

    The company bought 9 million shares on Tuesday for 2,144 yen each in an off-market transaction. Sony Corporation already holds 274,050,000 shares in the company.

    The ¥19.3 billion (around 170 Million) acquisition will boost net income for Sony’s shareholders with the goal of raising corporate value for both the Sony Group and Sony Financial.

    The company also said that it’s desirable for Sony Financial to maintain its listed status, and secure transparent management and independent financing

    The Financial division which was founded in 2004 is headquartered in Tokyo, Japan, and owns and oversees the operation of Sony Life Insurance, AEGON Sony Life Insurance (50 per cent joint venture with Aegon N.V.), SA Reinsurance Ltd. (50 per cent joint venture with Aegon; British Bermuda), Sony Life Singapore, Sony Assurance, Sony Bank, Sony Payment Services, SmartLink Network Hong Kong Limited, Sony Lifecare and Lifecare Design. 
     

  • Goodwill impairment at Pictures segment impairs Sony’s income

    BENGALURU: Sony Corporation (Sony) reported a 1.9 percent or ¥5.5 billion decline in consolidated operating income for the fiscal ended 31 March 2017 (FY-17, current year) as compared to FY-16. The company says that this was mainly due to the US$962 million (¥112.1 billion yen) impairment charge of goodwill recorded in the Pictures segment, substantially offset by an improvement in the operating results of the Mobile Communications (MC) segment and an increase in the operating income of the Game & Network Services (G&NS) segment.

    Due to the revision, Sony says that it was determined that the entire amount of goodwill, in the Production & Distribution reporting unit of the Pictures segment, which includes the Motion Pictures business, was impaired and an operating loss was recorded in the Pictures segment, says the company.

    Sony’s Pictures segment is comprised of the Motion Pictures, Television Productions, and Media Networks categories.

    Sales for the Pictures segment decreased 3.7 percent in FY-17 (a 5 percent increase on a U.S. dollar basis) to ¥903.1 billion, primarily due to the impact of the appreciation of the yen against the U.S. dollar. The increase in sales on a US dollar basis was primarily due to higher sales for Television Productions and Media Networks. Sales for Television Productions increased primarily due to higher subscription video-on-demand (SVOD) licensing revenues. The increase in sales for Media Networks was due to higher advertising and subscription revenues mainly in India, Latin America and the US says the company.

    The Pictures segment’s reported operating loss of ¥80.5 billion, compared to operating income of ¥38.5 billion in the previous fiscal year. This significant deterioration in operating results was primarily due to the above-mentioned 962 million U.S. dollars (¥112.1 billion) impairment charge of goodwill. The operating results for the Pictures segment were also negatively impacted by higher programming and marketing expenses for Media Networks as well as higher theatrical marketing expenses for Motion Pictures.

    Sony’s consolidated sales and operating revenue decreased by 6.2 percent to ¥7,603.3 billion compared to the previous fiscal year’s ¥8,105.7 billion. This decrease was mainly due to the impact of foreign exchange rates says the company.

    Net income attributable to Sony Corporation’s stockholders, which deducts net income attributable to non-controlling interests, decreased ¥74.5 billion to ¥73.3 billion yen in FY-17 from ¥ 147.8 billion in the previous year.

  • Recordable optical disc market may reach 4,224m units by ’25: Report

    MUMBAI: The recordable optical disc market is expected to demonstrate a CAGR of -5.6 per cent during the forecast period and reach 4,224 Mn units by 2025. Wide-ranging product types such as CD, DVD and Blu-Ray Disc are products that cater to large data storage demands across numerous industries thus generating a desirable market for recordable optical discs.

    This is according to Future Market Insights (FMI)’s latest report titled, “Recordable Optical Disc Market: Global Industry Analysis and Opportunity Assessment 2015 – 2025”.

    Key market participants covered in the report include Sony Corporation, Fujifilm Holdings Corporation, Taiyo Yuden Co., Ltd., Hitachi Maxell Ltd., Imation Corp., CMC Magnetics Corporation, RITEK Corporation, Moser Baer India Limited, Falcon Technologies International L.L.C. and Singulus Technologies.

    Globally, demand for recordable optical discs is declining at a rapid rate; however, cutting-edge innovation along with increasing awareness about data security and storage are expected to boost the demand for advanced optical discs in the near future.

    According to an FMI analyst, “Global demand for optical storage disc market is declining due to the rapid adoption of new technologies such as cloud storage, Internet of Things (IoT) and Video on Demand (VOD). However, globally, increasing demand for archival solutions and positive outlook for the media and entertainment industry is expected to create significant demand for recordable optical discs in the near future.” The analyst added that major players in the recordable optical disc market are dedicated to invest into research and development (R&D) activities. This investment is majorly focused on product advancement that can be used for storing large amounts of data for longer durations. From a regional perspective, North America was the largest market for recordable optical disc, accounting for 41.4% market share in 2014. This region continues to dominate the market and the trend is expected to continue over the forecast period. Among countries, Japan and China are projected to play important roles due to the presence of key players. From end-user perspective, the media industry is projected to show a CAGR of -4.3% in terms of volume, during the forecast period. Increasing demand for archival solutions, the media and entertainment industry presents a positive market opportunity for the recordable optical discs.

    Factors driving the recordable optical disc market are increasing consumer inclination towards recording HD broadcasts, growing demand for content protection and widening applications of the optical discs. However, stiff competition from other media storage devices and cloud-based storage services and high raw material costs restrain the growth of this market.

    The global recordable optical disc market is segmented on the basis of region, product type and end-users. Product type includes CD, DVD and BD. CD is further sub-segmented into CD-R (audio type and data type) and CD-RW.

    On the basis of end-users, the market is segmented into media industry, healthcare, educational institutes and others (manufacturing industry, telecom, BFSI, etc.). Key regions covered in the report include North America, Latin America, Western Europe (EU5), Eastern Europe, APEJ, Japan and the Middle East & Africa.

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.

  • Sony Pictures promotes Resident Evil final with VR experience

    Sony Pictures promotes Resident Evil final with VR experience

    MUMBAI: Sony Pictures Entertainment recently set up a Virtual Reality (VR) immersive gaming experience ahead of the 3 February release of “Resident Evil: The Final Chapter”. Japanese engineers were flown to establish it in Mumbai.

    The gaming experience is supported by haptic techonology — giving a tangible and realistic feel to virtual objects. The technology and will enable experiencing of the character Alice’s biggest fight against the un-dead as she approaches to save the humanity from complete oblivion.

    Flagged off in Japan for a global tour, the immersive gaming experience is a result of cooperation between the video production company Sony PCL, Sony Pictures Entertainment (SPE) and the parent company Sony Corp.

    public://Milla-Jovovich-in-Resident-Evil-The-Final-Chapter.jpg

    Termed as ‘The Road to Raccoon City’, the new experience will feature content from the movie, complete with voiceover from Alice, the character that has been essayed by actress Milla Jovovich. It features the aforementioned technology to simulate a zombie attack, as users wear VR glasses and a vest that provides vibration and audio feedback while they shoot at zombies projected on-screen with a gun.

    Sony Pictures Entertainment (SPE) India managing director Vivek Krishnani has had a first-hand experience with the game. He exclaimed that since it was the last installment of the ‘Resident Evil’ series and culmination of Alice’s incredible journey, they wanted to make it extraordinary for fans of the game and the franchise.

    In 2016, VR headsets had just started to come into the market thanks to the likes of the Samsung Gear VR. While it was lower-cost solution, it was limited regarding the experience they could provide. In 2017 all of this will change, however. These early devices were the tip of the iceberg, a means of testing people’s interest in the idea of VR as a concept.

    Also Read :

    ’17 to be year of survival for VR market

    How VOKE is helping Hotstar to bring 3D VR to Kabaddi

  • Sony Pictures promotes Resident Evil final with VR experience

    Sony Pictures promotes Resident Evil final with VR experience

    MUMBAI: Sony Pictures Entertainment recently set up a Virtual Reality (VR) immersive gaming experience ahead of the 3 February release of “Resident Evil: The Final Chapter”. Japanese engineers were flown to establish it in Mumbai.

    The gaming experience is supported by haptic techonology — giving a tangible and realistic feel to virtual objects. The technology and will enable experiencing of the character Alice’s biggest fight against the un-dead as she approaches to save the humanity from complete oblivion.

    Flagged off in Japan for a global tour, the immersive gaming experience is a result of cooperation between the video production company Sony PCL, Sony Pictures Entertainment (SPE) and the parent company Sony Corp.

    public://Milla-Jovovich-in-Resident-Evil-The-Final-Chapter.jpg

    Termed as ‘The Road to Raccoon City’, the new experience will feature content from the movie, complete with voiceover from Alice, the character that has been essayed by actress Milla Jovovich. It features the aforementioned technology to simulate a zombie attack, as users wear VR glasses and a vest that provides vibration and audio feedback while they shoot at zombies projected on-screen with a gun.

    Sony Pictures Entertainment (SPE) India managing director Vivek Krishnani has had a first-hand experience with the game. He exclaimed that since it was the last installment of the ‘Resident Evil’ series and culmination of Alice’s incredible journey, they wanted to make it extraordinary for fans of the game and the franchise.

    In 2016, VR headsets had just started to come into the market thanks to the likes of the Samsung Gear VR. While it was lower-cost solution, it was limited regarding the experience they could provide. In 2017 all of this will change, however. These early devices were the tip of the iceberg, a means of testing people’s interest in the idea of VR as a concept.

    Also Read :

    ’17 to be year of survival for VR market

    How VOKE is helping Hotstar to bring 3D VR to Kabaddi

  • Sony Entertainment CEO Lynton stepping down; Hirai to take on more responsibility

    Sony Entertainment CEO Lynton stepping down; Hirai to take on more responsibility

    MUMBAI: Sony Entertainment CEO Michael Lynton will on 2 February reportedly step down as he plans to focus on his role as the chairman of the board of Snap Inc., owner of Snapchat.

    The entertainment industry is undergoing major transformative changes, and Lynton’s expertise in the media and entertainment space had been invaluable. Lynton implemented structural and management changes at Sony which would help its music business sustain its good momentum, and the pictures business to set the path for restoring profitability, although Sony recognises the challenges in the motion-pictures business would take some time.

    Lynton will however stay on as co-CEO of Sony Entertainment for six months, overseeing the music and pictures businesses, and as the CEO of Sony Corporation of America and Sony Pictures Entertainment, so as to help a smooth change-over, the World Screen has reported.

    Tokyo-based Sony Corporation president and CEO Kazuo Hirai is scheduled to take on an enhanced hands-on role within the company’s television, movie and music division.

    Lynton has said that it had been an extraordinary 13 years and an honour to work with Sony’s some of the most creative and talented people in the entertainment space. He said he had been involved with Snapchat since its early days, and, given its rise since, decided the time was ripe to focus on his role as the Snap Inc. board chairman.

    Hirai said he wanted to thank Lynton for his strong leadership at Sony throughout his illustrious career.