Sony boss won’t spin off entertainment division

 
Lynsey Barber
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Sony boss Kazuo Hirai will not spin off entertainment division

Sony will not spin off its more successful entertainment division chief exec Kazuo Hiarai told shareholders at its annual meeting yesterday.

Hirai apologised to investors for not meeting shareholder expectations and said he would plow on with restructuring efforts in a bid to return the company to profit.

The electronic company forecast another year of losses, its sixth in seven years, as it struggles to keep up with competition in the electronics market and has experienced losses of £491m since Hirai's arrival in 2012.

Sony entertainment, the film and music side of the business, has performed better with hits such as Breaking Bad and Skyfall under its belt and Hirai offloaded Sony's Vaio PC business earlier this year to stem losses.

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