Analysts Slam Sony's Multi-Billion Dollar Buys
Loss Making Sony Spent More than Eight Billion Dollars in 2011 on Acquisitions
According to SFGate, "Sony Corp. Chief Executive Officer Howard Stringer has announced acquisitions worth $8.4 billion this year to bolster phones and content. That may not be enough to turn around a company heading for a fourth consecutive loss."
That's right, $8.4 billion.
This has not gone down well with analysts, with one (Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, which manages $3 billion) suggesting that, "Sony must concentrate only on a few electronic products, maybe even get out of the manufacturing business."
Mitsushige Akino, of the Ichiyoshi Investment Management Company says, sums up investor feeling with,"Acquisitions aren't going to bring back growth."
Finally, Naoki Fujiwara of Shinkin Asset Management aims his ire at Sony CEO Sir Howard Stringer himself, "Stringer is buying time by purchasing companies with appreciating technology."
Source: SFGate
That's right, $8.4 billion.
This has not gone down well with analysts, with one (Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, which manages $3 billion) suggesting that, "Sony must concentrate only on a few electronic products, maybe even get out of the manufacturing business."
Mitsushige Akino, of the Ichiyoshi Investment Management Company says, sums up investor feeling with,"Acquisitions aren't going to bring back growth."
Finally, Naoki Fujiwara of Shinkin Asset Management aims his ire at Sony CEO Sir Howard Stringer himself, "Stringer is buying time by purchasing companies with appreciating technology."
Source: SFGate
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