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Sony Corp appoints new CFO

By | Published on Monday 31 March 2014

Sony Corp

Sony Corp announced on Friday that it will replace its Chief Financial Officer tomorrow, with Kenichiro Yoshida taking over from Masaru Kato.

After a little bit of optimism in 2012, the Japanese conglom will report substantial losses for its current financial year, which ends today. As previously reported, Sony’s US-based entertainment businesses – including Sony Music and the Sony/ATV publishing company- have been doing alright, and most of the financial woes stem from the electronics side of the group.

More cost cutting will likely be needed across Sony Corp, and Yoshida, previously Deputy CFO, will be charged with the task of finding additional savings. Kato, meanwhile, will become Vice-Chairman of the Sony group.