Sony CEO to Keep Second Office at Film Unit HQ in California
​Sales and operating profit in Sony’s core consumer electronics sector of home entertainment and sound plunged by double digits in fiscal Q3 ended Dec. 31, the company announced. Sony Pictures swung to a $920 million operating loss, from a year-earlier…
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profit, as revenue plunged 14.1 percent to $1.9 billion. Sony blamed “significantly lower theatrical revenues” in the current quarter on tough comparisons with Q3 a year earlier, which benefited from the “strong worldwide performances” of Spectre and Hotel Transylvania 2. “Management takes seriously the fact that we have under-achieved the profitability target” in the pictures sector, Sony said. CEO Kazuo Hirai “will keep a second office” in Culver City, California, where the sector is headquartered so “he can involve himself even more deeply in the management of the entertainment businesses,” the company said.