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Sony Corporation Message Board

  • supdog1 supdog1 Apr 3, 1998 11:13 PM Flag

    when are 1Qtr earnings due out

    does anyone know when sont's earnings will be out?


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    • The japanese people are starting to buy gold and other more stable investments and sell their japanese stock.

    • Friday April 3 8:22 AM EST

      Sony President -- Cost Does Matter

      By Jon Herskovitz

      TOKYO (Variety) - Sony Corp. president Nobuyuki Idei said Thursday the company is ready to make one or two
      blockbuster-scale movies a year, but will not pay "Titanic"-size amounts for productions because the electronics giant is keeping a
      close eye on its bottom line.

      "We need only one or two big movies, but not all of them," Idei told reporters at a briefing in Tokyo addressing the company's
      performance, adding that Sony is not likely to jump on the bandwagon to make enormous-scale movies in an effort to emulate the
      success of "Titanic."

      "For me, the cost does matter very much," Idei said in response to the inflationary spiral hitting Hollywood.

      Idei's comments echoed those of Sony Pictures Entertainment president and chief operating officer John Calley, who announced
      Sony's desire for no more than one or two blockbusters several months ago in stories about "Godzilla," a film that will cost Sony
      more than $90 million.

      In the past, Sony has attempted blockbusters with films including "Last Action Hero" and "Starship Troopers," both of which ended
      up breaking even, but not busting out at the box office.

      With "Godzilla," filmmakers Roland Emmerich and Dean Devlin brought the picture in under $100 million. It opens in May.

      Sony also is depending on Devlin and Emmerich to come up with other blockbuster pictures through their multiyear deal with Sony
      Pictures Entertainment.

      Idei said Sony Worldwide is likely to post a net operating profit of 500 billion yen ($3.84 billion) on sales of 66 trillion yen ($507.8
      billion) for the fiscal year that ended on March 31.

      He said the fall in the value of the yen is helping to push the net operating figure up by 35% from the figure tallied for the previous
      fiscal year.

      He also offered praise for Sony Music Entertainment, currently riding high with the "Titanic" soundtrack, saying, "The music
      business is doing extremely well worldwide."

      Most of Sony's success for the fiscal year lies in solid sales of its core audiovisual products, he said.

      Idei ran off a checklist of products that have helped the electronics firm, such as its PlayStation videogame and camcorders. He
      said Sony is ready to roll out digital TV sets in the U.S. later this year and thinks the minidisc audio components, which are
      enormously popular in Japan, will finally catch on Stateside.

      Despite the flow of black ink, Sony is undergoing a sweeping reform of its management structure and decision-making process in
      order to compete with agile and powerful companies such as Dell and Compaq computers, Idei said.

      While Idei was giving his nuts-and-bolts assessment of Sony's performance and plans, Sony chairman Norio Ohga took a few
      swipes at the Japanese government for its inability to manage the nation's economic house.

      Ohga likened Japanese Prime Minister Ryutaro Hashimoto to President Herbert Hoover, who helped usher in the Great
      Depression in the U.S.

      "I have a great concern about Japan becoming a trigger of a worldwide recession," Ohga said. "If the economic situation continues
      to decline, we will face a long spiral of deflation. This will no doubt have a damaging effect on the world economy."

      Reuters/Variety ^REUTERS@

      • 1 Reply to Powderdog_97
      • Dow Jones Newswires -- April 6, 1998
        Sony Expected To Raise Dividend In FY98 By Y10 To Y70

        TOKYO (Nikkei)--Sony Corp. (J.SNY or 6758) will increase its dividend
        payment in the current fiscal year through March 1999 for the third
        consecutive year, The Nihon Keizai Shimbun reported in its Tuesday
        morning edition.

        The company estimates consolidated net profit in the fiscal year ended
        March at a record Y220 billion, up 58% over the previous year, the
        newspaper said, citing company sources.

        Moreover, the consumer electronics giant expects to break last year's
        record on the strength of the growing popularity of its digital electronic
        products, including MiniDiscs and TVs.

        Sony will likely raise its annual dividend payment by Y10 for a total of
        Y70. The company celebrated its 50th anniversary in fiscal 1996 with a Y5
        commemorative dividend.

        The Y70 translates into a total dividend payment of about Y28.5 billion.

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