Editor’s Note: Related tickers: Sony Corporation (ADR) (NYSE:SNE)
Jefferies Group initiated coverage on shares of Sony Corporation (ADR) (NYSE:SNE) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock. The analysts wrote, “Refining Sony Corporation (ADR) (NYSE:SNE)’s classification into i (Insurance), C (Content) and E(Electronics) helps to see the forest from the trees. Electronics accounts for 75% of revenues, but it is the i and C that generate all the profits, while E losses depend on the Yen. If Sony Corporation (ADR) (NYSE:SNE) did not have the Electronics business, its aggregate OP for the last 5-10 years would have been nearly double the reported number, by our estimates.”
Sony Corporation (ADR) (NYSE:SNE) Has 8.2% Smartphone Growth, As Releases Xperia UL (PropertyMentorGroup)
Sony Corporation (ADR) (NYSE:SNE) seen aggressive in smartphone market, it has announced a new smartphone code name of Xperia UL, in the Japanese market with carrier KDDI. Just similar to the currently released Xperia A and Xperia ZR, this phone is as well water, dust resistant, and can endure 1.5M of still water for 30M. The phone is in line with Sony Corporation (ADR) (NYSE:SNE)’s new design attitude that they have seen in phones like the Xperia Z, Xperia SP, Xperia A and Xperia ZR and has the similar signature aluminum power button that resembles a watch crown.
Investors see boon from Sony bond (VancouverSun)
Investors who bought into Sony Corporation (ADR) (NYSE:SNE)’s convertible bond issue last year may reap profits of as much as $1.7 billion, after the shares surged to more than double the price at which the debt can be redeemed for equity. Sony Corporation (ADR) (NYSE:SNE) raised 150 billion yen ($1.5 billion) in November to fund expansion, selling zero-coupon bonds which can be converted into 157 million shares at 957 yen apiece, the Tokyo-based company said in a statement. The maker of Bravia TVs made its first convertible-bond sale in a decade amid a stock price plunge.
Japan Inc. Should Take a Look in the Mirror (Gnom)
Sony Corporation (ADR) (NYSE:SNE)’s curt dismissal of a foreigner’s advice last week didn’t shock Michael Woodford, the former chief executive officer of Olympus Corp. “The club, meaning corporate Japan, will do everything it can to mask and hide what’s wrong. That’s what’s most important,” said Woodford, a Briton who was fired in late 2011 after he exposed a $1.7 billion accounting fraud in his own company.
Sony Wants Toshiba, HannStar Docs In LCD Cartel Suit (Law360)
A California federal judge should force Toshiba Corp. and HannStar Display Corp. to produce evidence in a suit rolled into multidistrict litigation over alleged price-fixing of liquid crystal display panels, two Sony Corporation (ADR) (NYSE:SNE) units said Friday. Sony Corporation (ADR) (NYSE:SNE) and Sony Computer Entertainment LLC lodged the motion to compel evidence from Toshiba and HannStar. Specifically, the motion asks for a list of Toshiba employees who negotiated prices of LCD panels sold to Sony Corporation (ADR) (NYSE:SNE) or its third-party manufacturers, and seeks to force both Toshiba and HannStar to…
