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Sony sees 10% ROE in 3 years on TVs, Blu-ray, chips
TOKYO - Sony Corp aims for return on equity of 10 percent in three years by raising profitability on its LCD TVs, and by expanding sales of PCs, electronic components, and Blu-ray DVD products.
The Japanese electronics and entertainment conglomerate said on Thursday it aims to take the biggest global share in LCD TVs by the year ending March 2011 and to cut costs in its Bravia flat TVs, which compete with products from Samsung Electronics Co Ltd and Sharp Corp.
Sony, which also offers PlayStation 3 game consoles, Cyber-shot digital cameras and Vaio PCs, will focus on its component and semiconductor businesses as it pursues an elusive 5 percent operating profit margin.
Of the planned 1.8 trillion yen ($16.67 billion) it plans to invest over the next three years, about half would go to its component and semiconductor operations -- which span image sensors, batteries, display devices and Blu-ray Disc-related parts, it said.
Five percent was the ‘minimum acceptable profitability level’, Sony Chief Executive Howard Stringer said at a news conference.
Sony failed to hit its previous mid-term target of boosting its operating profit margin to 5 percent for the year that ended in March 2008. The margin was 4.2 percent.
The company, locked in a three-way battle with Microsoft Corp and Nintendo Co Ltd in the global videogame industry, will launch video distribution services on its PlayStation network starting this summer, it said.
Sony also said it would double sales in Brazil, Russia, India and China to a total 2 trillion yen ($18.52 billion) in the three years to March 2011.
Sony last month posted a quarterly loss after a weak stock market ate into the value of securities held by its financial arm, but forecast 20 percent profit growth this year.
Ahead of Thursday's announcement, shares in Sony closed up 2.9 percent at 5,060 yen, against a 0.05 percent fall on the benchmark Nikkei average
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