Effective April 1, 2020, Sony is spinning off the businesses that make up its Electronics Products and Solutions segment into a new separate holding company called Sony Electronics Corporation. There are three businesses that are affected: 1) Imaging Products & Solutions, 2) Home Entertainment & Sound, and 3) Mobile Communications. Moving to that new company will be all related global sales and marketing, manufacturing, logistics, procurement and engineering platforms.
The Electronics Products and Solutions segment was itself created only last March after merging the three businesses together.
Shigeki Ishizuka will be the Representative Director and President, CEO of Sony Electronics Corporation (and a Senior Executive Vice President of Sony Corporation). Ichiro Takagi will be the Representative Director and Executive Deputy President, COO of Sony Electronics Corporation (and a Senior Executive Vice President of Sony Corporation).
While Sony has done multiple restructuration in the past without affecting consumers, this news comes hot after the one that activist investor Daniel Loeb is lobbying strongly to get Sony to sell off its image sensor business and other businesses.
PRESS RELEASE
March 26, 2020
Sony Electronics Corporation to be Established
Tokyo, Japan — Sony Corporation (“Sony”) today announced that it will establish an intermediate holding company “Sony Electronics Corporation” effective April 1st, 2020. Sony Electronics Corporation will incorporate the three businesses that comprise its Electronics Products & Solutions (“EP&S”) segment (Imaging Products & Solutions, Home Entertainment & Sound, and Mobile Communications) and related global sales and marketing, manufacturing, logistics, procurement and engineering platforms.
Through the establishment of Sony Electronics Corporation, Sony will not only accelerate the integrated operation of the EP&S businesses, but also aim to optimize its organizational structure, talent and business portfolio, while further enhancing competitiveness and creating new business.
