After posting an annual net loss of ¥545 billion ($5.4 billion), the biggest in its 100-year history, Sharp Corp. said it plans to replace both its president and chairman after just one year in an unusually public rebuke of former management that underscores the depth of the struggling electronics maker’s problems.
Panasonic Corp. Friday posted net losses exceeding ¥750 billion ($7.4 billion) for the second straight year, dragged down by hefty restructuring charges aimed at fixing its ailing electronics business.
Having grabbed a big chunk of the profitable smartphone business from Apple Inc. and others, Samsung Electronics Co. now faces a new, enviable Apple-like challenge: a mammoth pile of unspent, accumulated cash.
SoftBank Corp. Chief Executive Masayoshi Son launched a blistering attack on Dish Network Corp.’s competing bid for Sprint Nextel Corp., saying it would load the U.S. carrier with debt and delay its turnaround without providing any telecommunications expertise.
Japanese electronics firm Sony Corp. said it doubled its profit outlook for the past business year ended March, aided by a weaker yen, asset sales and a rebounding stock market that helped its life insurance business.
Japan’s Sharp Corp. is trying to find new sources of capital ahead of key looming financing deadlines. But the electronics maker’s options have shrunk, as management has told potential funders it doesn’t want to relinquish control of key decisions, while rebuffing demands from creditors that it shed core assets.
TOKYO — When the head of NTT DoCoMo Inc., Japan’s biggest mobile carrier, took the stage in January to introduce its latest models, he declared Sony Corp.’s new Xperia Z smartphone his company’s top pick, the equivalent of a mother announcing her favorite child.