Sony CEO Hirai Says It’s ‘Moving in Right Direction’ on Earnings

Sony Corp. (6758) Chief Executive Officer Kazuo Hirai comments on the Japanese electronics maker’s full- year earnings outlook, its cash position after agreeing to invest in Olympus Corp. (7733), and new 4K high-resolution TVs. He spoke today at the CEATEC electronics show in Chiba, near Tokyo.

On the full-year earnings outlook:

“We see some ups and downs depending on territories and product categories.”

“We are ahead of plans in turning the TV business around. There are differences in product categories but overall, I think we are moving in the right direction.”

On cash position after Olympus agreement:

“We have been looking at our cash balance, including equivalents as well, and the way our balance sheet looks, and making sure as we do these acquisitions, that we are mindful of cash position.”

On Sony’s new 4K-resolution TV models:

“With 4K TV sets, pricing right now is not a mass market proposition, but it’s more of our message to the market about a leadership position we’d like to take in the 4K market as well as making sure we have a flagship product to really get 4K taking off right away.”

“Sony has a very deep DNA in creating the best picture and the best sound, and 4K Bravia is kind of an example of that DNA. We’re certainly committed to the TV business.”

On Sony’s revival:

“We’re basically executing the strategy announced in April. I feel good about where we are. We obviously need to do more and show results.”

To contact the reporter on this story: Mariko Yasu in Tokyo at myasu@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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