By Yuri Kageyama, Business Writer
TOKYO (AP) --Sony Corp. reported Tuesday a 33% drop in its fiscal first quarter profit as sales dipped in its electronics operations, including TV sets and camcorders.
The Japanese electronics and entertainment company's April-June profit totaled 152 billion yen ($1.4 billion), down from 226 billion yen in the same period of the previous year.
Quarterly sales inched down 1% to 1.93 trillion yen ($17.7 billion).
Tokyo-based Sony, which makes Bravia digital TVs and the Aibo robotic dog, kept its profit forecast for the fiscal year through March 2020 unchanged at 500 billion yen ($4.6 billion).
For the latest quarter, sales from the company's movie division Sony Pictures Entertainment benefited from the higher theatrical revenue from "Men in Black: International" and "Spider-Man: Far From Home."
Its video game business benefited from better sales in its PlayStation 4 game console, it said.
Sony's music unit also improved from the previous year because of the absence of equity losses for EMI Music Publishing recorded the previous year and higher sales, including streaming revenue.
Gains from Spotify have lifted Sony's bottom line in recent months.
Sony, founded in 1946, was long seen as a pioneer, exemplified in the Walkman, which introduced the idea of mobile music to the world.
But until its latest recovery, it has struggled over some years in adjusting to the digital age amid competition from powerful rivals like Apple and Samsung. It has also suffered some bad luck such as an earthquake in southwestern Japan in 2017.
Juggling its widespread operations, which also include medical equipment and financial services, has also been a challenge.
Mike Pierantozzi joins Movers+Shakers as exec creative director
Creative agency Movers+Shakers has appointed Mike Pierantozzi as executive creative director. In this new role, he will help guide the creative direction of Movers+Shakers’ socially-native campaigns. Pierantozzi will report to co-founder and chief creative officer Geoffrey Goldberg.
With nearly two decades of experience as a copywriter, creative director, and multi-platform storyteller, Pierantozzi brings a wealth of knowledge from his work with major brands including Kraft, Unilever, IBM, and Walmart. He has led the creation of award-winning campaigns for agencies like Red Tettemer, Ogilvy, The Brooklyn Brothers, TAXI, Saatchi & Saatchi, and most recently, Vayner, where he spearheaded culturally iconic work for Planters including “Death of Mr. Peanut.” He led the National Down Syndrome Society and Luvs account, whose “First Kid. Second Kid” campaign was awarded by the Effies, ADC, Clios and LIAs.
Outside of the office, Pierantozzi practices what he teaches brands. He’s gone viral multiple times on his own TikTok account, featuring comedic interactions with his son and a trombone. He’s accumulated 15K followers on TikTok.
“Mike brings a rare and awesome combination of deep social and platform experience, a keen eye for excellent storytelling, and a humble and kind approach to leadership,” said Goldberg. “Mike’s got a knack for turning brand stories into cultural movements, making him the perfect fit for Movers+Shakers. He’s got the kind of bold vision and attention to culture that fits perfectly with our mission to push creative boundaries and drive industry firsts. Plus, as a creator himself he has the innate ability to make people stop, laugh, and share--which is exactly what we’re about.”
“I’ve... Read More