Sony PS4 Gives Hirai Shot at Profit as Risk Falls: Japan Credit
This article is for subscribers only.
Sony Corp.’s bond risk fell to a three-month low on expectations Chief Executive Officer Kazuo Hirai will ride the PlayStation 4’s lead over Xbox One to a profit this fiscal year.
The cost to insure Sony’s debt fell to 157 basis points on April 4, the lowest since Jan. 7, according to credit-default swap data from CMA. That’s down 79 basis points from a one-year high on Feb. 6, the day Hirai scrapped his target for a profit last fiscal year. The contracts of Samsung Electronics Co. declined 15 in the period, while the Markit iTraxx Japan index of 50 investment-grade borrowers was down two basis points.