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Politics : Formerly About Applied Materials

AMAT 260.77

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Dec 24 12:59 PM EST

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To: StanX Long who wrote (63180)	4/25/2002 2:01:35 AM
From: StanX Long	Read Replies (1) of 70976

Sony's CEO Hypes the Broadband Future -- Investor Doubts Mount By Hiroshi Suzuki and Kyoko Suzuki quote.bloomberg.com Tokyo, April 25 (Bloomberg) -- Nobuyuki Idei's seven-year stint leading Sony Corp. has been good for investors -- Sony's stock tripled, annual sales doubled and earnings surged. The past year hasn't been as kind. In the twelve months ended March 31, Idei was forced to recall faulty mobile phones, contend with mounting losses at Sony unit Aiwa Co. and weather slower global demand for many of his company's products. Idei's promise to deliver music, games and movies to an online audience also hasn't materialized. For all the hype over high-speed Internet services, Sony still relies on gadgets for 68 percent of its revenue. Investors who sent the shares tumbling by about a quarter last fiscal year are beginning to question whether Idei can turn the business around. ``I'm not sure whether Idei is able to make all of Sony's businesses profitable,'' said Akihide Kinugawa, who helps manage 20 billion yen ($154 million) in assets at Daido Life Investment Management Co. ``I don't know what will happen after Idei leaves because the businesses he developed may be a burden on Sony.'' Investors may have reason to worry. Sony expects profit to have all but disappeared to 10 billion yen ($77 million) last fiscal year, its worst performance since Idei's appointment as president in 1995.

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