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Billionaire Dan Loeb says Sony is open to making changes

Wednesday, May 15, 2013 - 03:23

May 15 - In his interview Third Point's Dan Loeb, Reuters correspondent Chikafumi Hodo says that the hedge fund manager believes Sony is willing to change.

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Billionaire hedge fund manager download compares is investment in Sony with this push for change at Yahoo!. Reuters correspondent it's probably hold -- sat down with cantaloupe in Tokyo earlier today he joins us now on the phone. A lot of stuff we got low compared -- investment Sony to stake in Yahoo! but. They're big cultural differences between Yahoo! and Sony. Yes I agree that there is a big cultural difference between the two companies. Mr. -- said she she thinks that. And she told you that he is. Doing maybe up the right things. And she hit so many recede and this issue IE. Said that Sony must change and Sony will change. And mr. rove said. She also thinks that mr. here IE. Bring. Western sensibilities to management. Bright -- uniting the CEO Sony. You're referring to now what has been the reaction in Japan feel a little shareholder activism with Sony. -- Apparently the market has reacted very positively. Sending share prices. Fortunately -- years. Since. -- point. And made this proposal. And I spoke with one up fund managers. In Japan. And she told me that this news is posted for Sony. Japanese. Electronics sectors. Suggests Sony and Panasonic. Have been struggling over the past year. And they need to make. Proactive measures to come out from this slump and this kind of option. Offered by their point would be positive for Sony. To back in the 1990s are calling T. Boone Pickens took on -- to say -- show. A Toyota affiliate he was the largest shareholder by far. And tried to call first changes but he got a really Ruder reception in Japan heckled and shareholders' meetings a lot of bad press. Has the attitudes in Japan towards activists western. You know investors it changed at all. Actually I feel that. Japanese. Japanese attitude has not changed since then. I would say we haven't seen significant. Change. Now what you point out that the debt -- could also get more aggressive just as he did with Yahoo! if you were to do that. How do you think Sony would react. I hate. I do not actually has seen as statement. Same. That they have. No intention to. Hello there -- entertainment business meanwhile all. The company Sony Open to. These kind of proposal. Our -- keep an eye out on these developments are thanks to Reuters correspondents -- me hold on I'm Fred Katayama and this is Roy.

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Billionaire Dan Loeb says Sony is open to making changes

Wednesday, May 15, 2013 - 03:23