But Sony is a Japanese company and thus can't get out of its own way.
As I wrote in February, CEO Kazuo Hirai has made moves that make sense since he took over in 2012. The problem is that he's been unable to execute on those moves painlessly. The result is the company's assets are draining away as though he'd never made the moves at all.
This week Sony announced a revised earnings estimate for the year ending in March. And the company's inability to move quickly is painfully obvious.Before its first earnings revision in February, Sony was expecting a profit of about $300 million. Now it's looking at a loss of $1.3 billion. Charges related to its exit from the PC business wound up on this year's books, and it couldn't get out of the disc business fast enough to recover even the cost of its equipment. This wiped out all the good Hirai was able to do during the year, including his divestment of assets like the Gracenote database.
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