Sony shuffles corporate structure
October 7, 2015 | 11:51
Sony has announced that it is to split its electronic business into three separate entities, one each for the semiconductor, battery, and storage markets.
Sony's announcement of the corporate restructuring exercise claimed that it was the result of a desire to better focus on 'key growth drivers' from April next year, when the new entities will go into full effect. 'The aim of these measures is to ensure clearly attributable accountability and responsibility from the perspective of shareholders, management policies with an emphasis on sustainable profit generation, and the acceleration of decision-making processes and reinforcement of business competitiveness,' the company waffled in its statement to press and investors on the move.
The company's electronics concerns will now become three separate subsidiaries. The first, Sony Semiconductor Solutions Corporation, is to concentrate on the company's image sensor products and research and development operations. Under Terushi Shimizu, the new entity will absorb the current Sony Semiconductor Corporation and Sony LSI Design as subsidiaries - a move which may well lead to job losses at both companies.
Sony Storage Media and Devices Corporation will, as its name suggests, focus on storage media products and services under Mitsunobi Saito's continued leadership. Finally, Sony Energy Devices Corporation will be run under Yoshito Ezure's leadership.
The reshuffling comes as Sony suffers major losses in its mobile and retail arms, with chief executive Kazuo Hirai indicating that it would stop chasing sales growth in highly-competitive areas like smartphones and even home entertainment as it works to stem losses.