Sony CEO Apologizes as PS4 Maker Restructures for Growth

Sony Corp. Chief Executive Officer Kazuo Hirai apologized to investors after the company forecast a sixth loss in seven years, and he pledged that his restructuring efforts would fuel the electronics maker’s long-term growth.

“Sorry that we failed to meet shareholders’ expectations,” Hirai said at the company’s annual meeting in Tokyo. “We will bear responsibility to complete restructuring in fiscal 2014, with a strong sense of crisis and without further delay.”