Sony Shares Fall After Investment Rating Downgrades
Bloomberg writes: " Sony Corp., the world’s second- biggest consumer-electronics maker, fell to the lowest in a week in Tokyo trading after Credit Suisse Group AG cut its investment rating on the company, citing a loss of competitiveness.
Sony dropped 5.9 percent to close at 1,825 yen on the Tokyo Stock Exchange, the lowest since Dec. 8. The Nikkei 225 Stock Average lost 1.1 percent.
The Tokyo-based company needs "fundamental changes" to its operational structure, in addition to job cuts announced last week, to avoid lagging further behind rivals including Apple Inc. and Nintendo Co., said Credit Suisse, which reduced its rating on Sony to "underperform" from ‘neutral.’"
