Sony to retire from London Stock Exchange

Sony, mired in long-term losses, is racking its brains to seek self-help dafa. After stripping out part of the business, global layoffs and the sale of the Tokyo Building, Sony also sacrificed its exit strategy. Sony yesterday decided to retire from the 44-year-old London Stock Exchange, despite trading costs of $98,000 a year, due to the scarcity of turnover and the cost savings. A dismal stock market performance Sony spokeswoman said that because of the scarcity of turnover, continued to choose to be listed on the London Stock Exchange has no economic rationality, is expected to formally return to the city before and after August 29. Sony shares were known to have been listed on the London Stock Exchange in 1970, up to 44 years. Sony shares are trading at 1% of the Tokyo Stock Exchange each year, but Sony spends 10 million yen (about 98,000 dollars) a year to keep the market afloat. In this case, Sony opted to withdraw from the capital markets in London in an attempt to cut costs and save money. Sony said Sony's shares in Tokyo and the New York Stock Exchange continued trading after the London Stock Exchange withdrew from the market. However, Sony shares have been diving and market capitalisation has fallen from $125 billion trillion in 2000 to around $18 billion trillion. At the same time that the exit model was opened, Sony released its first fiscal quarter of fiscal year 2014 as of June 30, although net profits and revenues had risen year-on-year, but it was still unable to reverse Sony's full-year losses. Sony expects a net loss of about 500 billion yen in fiscal year 2014 (April 2014 to March 2015). The pace of self-help is too slow in fact, since Hirai became the CEO of Sony, has begun to implement a drastic reform of Sony to help themselves. In February this year, Sony sold its personal computer business to Japan Investment Fund JP, split its independent television business and cut 5000 jobs worldwide, which is scheduled to be completed by the end of the decade. Sony then sold its old headquarters building and nearby facilities in Tokyo, a one-off gain that gave Sony a 15 billion yen increase in operating profits in the quarter. Sony, led by Hirai, is trying to regain its strength, but the pace of its turn is too slow, leaving Sony with little time left. The Observer said. Sony, once the world's leading consumer electronics giant, known as God by Steve Jobs, has a long product line, but almost all of its products are at risk. such as Sony betting smartphone business, it is difficult to contend with Apple, Samsung dual giants control of high-end market pattern, but also faced with the Huawei, Lenovo and other domestic manufacturers in the middle and low-end market impact. In the three quarter of the upcoming mobile-phone melee, Sony has lowered its expected 50 million-part smartphone sales to 43 million, predicting that the best results for smartphone sales this fiscal year may be just a break-even. It is clear that Sony has a long way to go to reverse the downturn. Boat in fact, in recent years, the Industrial revolution in consumer electronics, Sony is not only one by one of the big companies down, on the contrary, the former film giant Kodak, but also with the Japanese department of Sharp, Panasonic, and functionMobile phone era of the giant Nokia, Motorola, BlackBerry, and so on, the flow of the market shuffle, the play is happily staged. These boat seem to be aware of the struggle for singles alone. Just yesterday, Sony, Panasonic, Japan's Innovation Network company, Japan showed four companies to work together to form joint Venture Joled Inc. (hereinafter referred to as the joled company), used to integrate the Sony and Panasonic OLED display panel research and development functions. OLED is the industry's recognized next-generation display technology, the Chinese and Korean enterprises interested in this and the layout of the continuous, Sony, Panasonic has briefly quit, this time to form a joint venture caused countless speculation. No accident, joled company will be formally established in January 2015. Hong Shibin, executive Director of Marketing Committee of China Household Electrical Appliance Business Association, said that Sony chose to invest in OLED panel industry under current operating conditions, probably because its machine market was under the pressure of the Chinese and Korean enterprises, decided to focus on the production of core components, to rely on their own technical advantages to reverse the loss situation. But Sony and Panasonic still have doubts about the company's voice. Under the Joint venture agreement, Japan's Innovation Network and Japan's joled companies will hold 75% and 15% of the voting rights respectively, while Sony and Panasonic each have only 5% of the vote.