Sony Corp. Chief Executive Officer Kazuo Hirai apologized to investors Thursday after the maker of PlayStation consoles and Xperia smartphones projected a sixth loss in seven years.
¡°Sorry that we failed to meet shareholders¡¯ expectations,¡± Hirai said at the company¡¯s annual meeting in Tokyo. ¡°We will bear responsibility to complete restructuring in fiscal 2014, with a strong sense of crisis and without further delay.¡±
Sony has lost ?85 billion since Hirai became CEO in 2012 and predicts another ?50 billion loss this year as he struggles to revive its TV business. The 53-year-old is counting on more restructuring, a slate of ¡°Amazing Spider-Man¡± films, new Xperia smartphones and potential sales of the PS4 in China to revive its fortunes against Apple Inc. and Samsung Electronics Co.
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