Sony will consider big shareholder's spinoff plan

05/22/2013 | Reuters

Sony will look at the possibility of spinning off its entertainment business, as proposed by Daniel Loeb's Third Point hedge fund, the company's largest shareholder, CEO Kazuo Hirai told reporters. Meanwhile, Sony reduced its 2014-15 sales targets for digital cameras, smartphones and tablet computers. "While there are encouraging signs of change, the revival of our electronics business remains our task," Hirai said.

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