Sony Corp. (6758) Chief Executive Officer Kazuo Hirai received 153 million yen ($1.6 million) in annual compensation as the Japanese electronics maker returned to its first profit in five years.
Rich kaz http://i.minus.com/iZ6xZtwj...
Kaz deserves every penny for taking the measures to return Sony to profit and successfully accomplished that
Sony is kicking at the period where they're bringing PS2 back to us!! I can't be luckier than this http://ts2.mm.bing.net/th?i...
well that will give me nightmares.
That is a surprisingly low number for the CEO of a major corporation. CEO's of American corporations the size of Sony make a lot more money than that.
@Darrius - and they're all rotten to the core. Well, many of them.
Sony is back on track and are looking good moving forward. The TV division remains the biggest wild-card. Sales are likely down across the board. They will try and push 4K sets but I don't see that breaking much ground for at least a few years. We aren't even getting 1080p content for cable vision yet.
He should make more than 1.6million and i believe he will after the breakout year the ps4 will have. i think they all took paycuts because their stock is going to get up there. good things happen when you listen to your customers and release an affordable device. they've learned a lot the hard way.
He has my respect as a business major.
Kaz turned Sony around in such a short time period. Shows how much of an idiot Howard Stringer was.
Selling 2 buildings to the amount of billions and cutting 10 000 jobs had nothing to do with it. -___- He did a great job and lets not detract from that, but lets not drag Howard through the mud. When Kaz turns another profit this year through actual day to day business then we can compare him to Mr Stringer.
why they disagree with you?the one guy did run sony to the ground. ken help by making the ps3 too high but the technology was there.the ps3 R&D was costly.but good job kaz even better job hiring mark to lead the charge with the ps4.yeah and their t.v's are killing them too.
@GameCents what about Sony buying Gaiki for 380 million $, as well as buying EMI publishing operations for 2.2 billion $, don't selectively list details and eliminate the ones you don't " prefer ".
@moegooner Don't forget the $500 000 000 10% acquisition of Olympus. @gamecents Stringer was an idiot, I lost money on Sony stock back in 2010. Off-topic but interesting. Kuturagi in 2005 was assigned to turn around the electronics business including flat panel displays etc. before it plunged into the red, which was a very hard task given how hard the then CEO Nobyuko Idei seemed to try destroy Sony's dominance in the sector. While Stringer was given the easier task of increasing Sony's entertainment profits to industry standards. Kuturagi failed and Stringer succeeded, Stringer was made CEO and Kuturagi was ousted due to plunging SCE into the red.
stringer did an alright job with the circumstances he was given. whoever decided to keep pushing for crazy expensive tvs and the $600 pricetag on the ps3 ultimately is to blame. they were wasting money in a lot of different ways but kaz seems to have fixed a lot of it. i still think they have a lot of work to do tho...
Good job kaz for turning Sony around, Playstation 4 will be the most successful console ever even more then the PS2. Im calling it now and you can disagree and i will understand but my gut is telling me thats what is going to happen and not only that but Sony as a whole will be extremely successful as well. They just seem to be making all the right moves from their new phones to their new tvs(they are one of the cheapest 4k tvs on the market right now $4999) to their movies too. Im really happy with them, they have come a long way since Kaz stepped in as head.
im sorry but nothing could top the ps2's sales. the competition back then was really lacking, and the thing PLAYED DVD'S IN 2000! the ps4 will dominate most likely, but it'll probably land somewhere between ps3 and ps1 in terms of sales.
I can respect that but its just my gut feeling.
The competition was lacking because it killed the competition. Just like the competition is lacking this time around too.
i like how everyone disagreed when i said itd land somewhere between ps3 and ps1 sales, which is in fact just above 100 million. Then liked the guy under me for saying they'd get just above 100 million -_-
I wouldn't assume PS2 success to be unattainable. If we look at past gen, the total ammount of consoles sold were just over 210 million (DC, PS2, Xbox and GameCube), with only PS2 having considerable after-next-gen sales. This gen We're at around 250 million (Xbox 360, PS3 and Wii) and it's not finished yet and at least PS3 and Xbox 360 don't look like they'll go anywhere that soon... If either console dominates the market like the PS2 did, chances are it'll easily go beyond 150 million units by the time of retiring, the challenge here is to acquire that kind of dominance, not the number itself.
Well, it's even easier to develop for than PS2 (some PS2 chips had their own proprietary language). If it isn't a match in sales, it could still be a match in quality and quantity of titles released. I think this generation will truly shine in that area.
Yeah you really feel that sort of magical atmosphere that is being created by Sony right now. It was the same way when Microsoft released the 360 or back in the PS2 days. PS4 is going to be amazing and I am actually excited to own a PS4. I haven't felt this sort of anticipation since the days of the PS2. I feel like console gaming is going to get one last hurrah for me, but I am going to start moving over to PC gaming this generation too. What Microsoft attempted with the DRM was disgusting, but I do think that is the way console gaming is going. If I am going to have to deal with DRM and restriction than I am going to do it on the PC where I can mod my games at least.
Congrats to Kaz ;)
Now can we get some new Kaz gifs to celebrate this milestone?
Release the Kaz gifs.
Sure thing; http://img.gawkerassets.com...
Congrats Kaz, now can you lend me some money?
Wow they return to profit before ps4 released. I think after ps4 they will be making lots of money. With PS+ and hopefully vita selling more then ever I think Sony is in a good spot right now. Ps4 is key tho. If that can sell well then vita and PS+ will sell well also as they all come with a connected experience.
I love the Kaz gifs :)
yea every time i see one i think hes laughing at don mattrick and major nelson
and that annoying 'Cliffy B'
Dropping his bonus as a gesture shows where this guy's priorities are. Sony's steady upturn reflects they're in good hands.
Dropping his bonus until all divisions are starting to make a profit...i wish all bloody bankers would give up there bonuses until the countries start making money
Kaz is 52? man he looks good for his age.
Sony was going to lose billions at the end of the fiscal year. They started liquidating assets to apease their investors that demanded they not lose again. They sold their award winning Japanese HQ and their U.S. HQ for 2.3 billion to show a 900 million profit. That is not turning the company around. It's selling off pieces to keep the lights on. Earning a profit through sales would be turning the company around. The PS4 development was subcontracted out due to Sony's financial inability to do it in house.
This is for the kids that choose to disagree instead of actually wanting to know. http://www.joystiq.com/2013... http://www.joystiq.com/2013... Sold off 4.3 billion to show a 458 million profit. Without selling their assets and laying off employees they would have lost close to 5 billion. Ouch.
@Death - Sony may have sold off assets, which isn't uncommon in business. Sony also invested heavily too. Sony's going to bounce back stonger than ever this year, mark my words:)
@Death So why was Xbone's development sub-contracted if it were just a matter of money? The PS3 had a Nvidia gpu, they co-develop hardware with big names in PC hardware every single time. That point you made is nonsensical! *Edited for truth
When was Microsoft a hardware developer? Microsoft has based the Xbox on PC architecture since the original launched. Sony has created custom hardware since the early 90's. Which company changed strategies and which company has been losing money since 2008? Do you think it is coincedence that Sony subcontracted their hardware for the first time and are now going to charge to play online? http://www.reuters.com/arti...
@Angeljuice, Enlighten me, what "big names" did they co-develop with? The nvidia GPU was added to the PS3 late in development since getting the "Cell" to work along side another "cell" as a GPU was too difficult. Originally, Cell development was shared with Toshiba and IBM, but Sony dumped the tech early in the PS3's lifecycle. http://www.bruceongames.com... Sony never relied on others in the game consoles. They always made a proprietary CPU that was harder to develop for but had more theoretical power. @S2, Four years of losses, stock being downgraded to "junk" status by Fitch, and selling off assets to offset additional losses for a fifth year in a row is a "little localized incident"? Wow, you are definately more informed than the rest of us. My apologies for being analytical. Maybe you can convince Sony's sharholders that the "investments" are paying off. Perhaps then Fitch will see the error of their ways. Clearly they didn't factor these investments into their decision to downgrade the stock. Again.
@Death They changed the way they designed the chip from previous incarnations to make it a dream platform to develop on. Its a different strategy, they *asked* developers what they wanted in a system, seems obvious I know, but nobody else does it. IBM and Toshiba co-designed and co-produced the cell. That is a simple fact. Sony have ALWAYS worked with tech partners from design through to fabrication...CONSIDER YOURSELF ENLIGHTENED!!!
you are forgetting that they also invested heavily. Don't just bring up little localized information and think you are being analytical.
Yup they acquired other companies as well which added to their losses.
I'm assuming you mean losses on paper. That would be correct. Otherwise investments are made so you make profits later (needless to say)
Debbie Downer strikes again. o_0 Basically kaz has done zero to turn the failing company around.......let him be people...some people need this stuff. Too much positive news is annoying for some.... Nothing to see here ;) Cheers for the link btw
More like "The troll aka Debbie Downer aka Death."
Why didn't you list any of their acquisitions, troll? Oh, wait, troll. Answered my own question. Nevermind.
Why don't you list them instead of labeling him a troll? The best way to counter someone is with an intelligent response. If he was trolling mark it and move on instead of vying for so much attention all the time and thus continuing down the spiral of more off-topic discussions. One acquisition is Gaikai which we will not see the benefits of until at least 2014 and we also won't know what additional fees are attached to the consumer. The PS4 is getting very positive responses and they need it to be successful right out of the gate. They cannot afford a slow burner like the Vita.
Acquisitions far outweigh the sales- Sales in 2012 (net): New York Building: $691 million Osaki City Building: $450 million Chemical business: $97 million Total Asset sales: $1.2 billion Acquisitions in 2012 (est.): Sony Ericsson: $1.5 billion Gaikai: $380 million EMI Music Publishing $2.2 billion (joint) – est. $450 million Left Bank Pictures: $60 million So-net: $764 million Total spent on Acquisitions: $3.15 billion http://gamer.blorge.com/201...
Kaz is gonna buy the new Ferrari F150 with that pocket change. I'm envious, but he not only fixed the PlayStation division but the entire Sony Corp too. ;)
It's getting better and will continue to, esp wih the release of the PS4
@Death - I bet you don't know what 'Junk status' even means. Sony's investments are long term, Gakai, EMI & a 10% stake in Olympus. Sony's branching out into medical-equipment, which is a good move considering Sony lead the world in tiny camera's. QUOTE Junk bonds are risky investments, but have speculative appeal because they offer much higher yields than safer bonds. Companies that issue junk bonds typically have less-than-stellar credit ratings, and investors demand these higher yields as compensation for the risk of investing in them. A junk bond issued from a company that manages to turn its performance around for the better and has its credit rating upgraded will generally have a substantial price appreciation. Ther has been tons of well known companies that have had 'Junk Status' and have turned things around, Apple/IBM springs too mind.
I get none of this :(...... Well done though
He shouldn't be making this kind of money. If you have been following this company than you know two things. They haven't seen a profit in 5 years. Their most recent profit was generated by the sale of over 3.4 Billion in hard assets, the closure of several plants and studios, and the firing of 10,000 people. And even after all that the company only netted $400 million. Where did the rest of the money go? Debts.
So, the company did what it had to do to pay off it's debts and make a profit? I'm not sure how that can be spun as bad.
Your reply is nothing but spin. They're not out of debt, not even close. Break up talks are happening despite official denials. And the stock is still flat at $21. I am starting to believe that Kaz Hirai is not the man to lead Sony out of the woods.
You're making it sound like a company has debt like a person has debt. Selling assets and cutting staff allows them to operate at a gain, which is where Sony's problems have been, operational losses. Those talks are only happening because some people want to cut the electronics division and entertainment divisions and pick up the pieces of the one that makes money. The talks are happening, but those sort of talks will always happen to a company who has been operating at a loss. Operational stability is the key here, which is what they're doing.
It's so rare that you know what you're talking about, MultiConsoleGamer. Now isn't one of those times.
Another reply in the same topic yet adding nothing to the actual discussion. Why are you here then if you're not interested in actual debates? Kaz id slowly turning the ship around but the stock price of Sony is $21.20 currently. Much lower than the pre-PS3 days and a lot of that is the TV division which Sony used to be king at but thanks to Samsung Sony has lost a large chunk of that market. That stock price the last 52 weeks has fluctuated from a low of $9.57 to a high of $23.38. So he has brought them back quite a bit but still a far cry from 10 years ago.
Well Hicken if my comments disinterest you so much feel free to ignore me. So far I haven't seen you contribute anything to the discussion except for petty insults. And you want to know why I never respond with insults of my own? Its because I'm comfortable being right. Anyone can check my track record and see for themselves. It's far better than your own. Back on topic... This isn't about creating stability. This isn't merely selling assets to pay off your debts. This is a desperate fire sale to stop the inevitable destruction of a once great company. Right now the only thing Kaz is doing right is betting heavily on the PS4. That is a wager that may pay off big time in the long run. Unfortunately the gaming division still has an image problem and a brand value problem. The recent fanboy tirades surrounding the Xbox One really made the Sony fanbase look rabid and aggressive, even though their basic objections to the problems with X1 were entirely valid. Sony, when you're ready to reshape your image a a gaming company give me a call.
boy i wish that check was going into my account. must be nice :D I think the biggest "bonus" I have ever received was $800.00 but hey better then nothing
Kaz woke up in a new Bugatti!