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Published at 3rd of January 2022 12:30:22 PM


Chapter 581

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The office building at 550 Madison Avenue was designed by designer Philip Johnson in 1984. It was originally the headquarters building of at & & & T. the office building has an area of 825000 square feet and 30000 square feet of auxiliary building.

Japanese electronics giant sunI announced last day that it would sell its American regional headquarters building in Manhattan, New York City for $1.1 billion in order to improve its financial situation.

In a statement announcing the sale of the U.S. headquarters building, sonny said, "SunI company is taking a series of actions to consolidate its financial base and strengthen its commercial competitiveness, so as to promote future growth. SunI company is balancing cash inflow and cash outflow, and improving its cash flow situation by carefully selecting investment projects, selling assets and strengthening control over operating assets such as inventory. This sale plan is part of these actions."

According to the statement of sunI company, the whole transaction is expected to be completed by December this year. After deducting transaction expenses and debts related to the building, sunI can get a net cash of US $770 million, of which US $685 million is planned to be included in the enterprise operating profit of this financial year.

In recent years, Sonny's life has been difficult. The market value of large enterprises that once exceeded US $100 billion has now fallen to about US $20 billion. Because they have lost the American film and television business group, it is worse than the original. The original Bi jingyouni film and television, the Pearl on the crown, can always make their own voice on the world's largest entertainment stage, which is equivalent to always having a decent job when they are down and out Wearing a suit, maintaining the last decent point, but now, just running naked in a pair of underpants.

Last year, sonny company and Sonny electronic entertainment company jointly announced that Dorothy Mujian, chairman and executive director of Sonny computer entertainment company, will retire after the expiration of his term of office on June 19. After retirement, he will be honored as honorary chairman of Sonny electronic entertainment company. The original position was held by President and COO of Sony electronic entertainment company Hirai took over. After taking over for a long time, the sales of PSP and PS3 in Japan have indeed improved significantly, especially the handheld PSP.

On June 1 this year, Ichio Hirai, CEO of SCE and vice president of Sony Group, will be promoted to President of Soni. However, Ichio Hirai is not an immortal and can not save the shrinkage of Soni electronics in the global market. This is due to the general environment and can not be recovered by personal force.

Sonny announced last month that it would cut 8000 jobs from the electronics business, cut investment in the electronics business and close some factories in order to achieve the annual cost reduction goal of about $1.1 billion.

The Associated Press reported that Sony has 185000 employees worldwide, including 160000 in the electronic products department. The company said it would complete the plan to lay off 8000 employees from the electronic products department by the end of March 2010. However, Sony did not specify which countries and regions it would lay off those employees from the electronic products Department of the company.

Before Sonny announced the largest layoff plan for Japanese enterprises since the outbreak of the international financial crisis, some other Japanese electronic product manufacturers also issued similar plans. The electronic product production industry has been impacted by factors such as the diving of electronic product prices, exchange rate fluctuations, fierce industry competition and the slowdown of global consumption.

About 80% of Sonny's products are sold abroad. Therefore, the rise of the yen has reduced the competitiveness of Sonny's products overseas and reduced the company's overseas business income. The exchange rate of the yen to the meter yuan has increased from 117:1 last year to 93:1 this month, and has hit a new high in 13 years this year.

The investment in electronic products business has been reduced by 30%. Sonny issued a statement saying that although the company has reduced production and inventory scale, the current economic situation requires Sonny to take stronger measures. In addition to layoffs, sonny will also reduce the investment in electronic products business originally planned in the company's medium-term management plan for the financial year 2009 by 30%. However, sonny did not disclose the specific amount of the 30% investment 。

In the context of the economic crisis, in view of the sharp reduction in the demand for LCD flat-panel TVs in Europe and the rise of local enterprises in mainland China, their market share is further decreasing.

Sonny said that the number of manufacturing sites will be reduced by about 10% from the current 57. In addition, sonny will continue to transfer the production activities of electronic products to lower cost countries and regions, reduce the expenditure in the semiconductor field, and outsource some image sensors for mobile phones.

In the final analysis, Sonny's above actions are mainly aimed at reducing costs. "These measures are a response to sudden and rapid changes in the global economic environment," the company said. Sony said that through these measures, the company will achieve the annual cost saving goal of more than $1.1 billion by March 2010.

Sonny recently significantly reduced its revenue forecast for the 2008 financial year, blaming the decrease in expected revenue on the decline in consumer demand and the rise in the yen exchange rate. In the financial year ending at the end of March 2009, Sony is expected to earn $1.65 billion, a year-on-year decrease of 59%.

From July to September this year, sunI's revenue was US $229 million, a sharp decrease of 72 compared with the same period last year. Gcsam is headquartered in Tokyo, Japan. Hongshi Sato, the company's chief investment officer, has sold his sunI shares. "In view of the more severe business environment ahead of us, if Moni does not take any measures, its earnings may be reduced significantly or even lose money," Sato told Bloomberg news. "I can't see how Soni will be favored by consumers again."

The news that Soni company announced that it would cut 16000 jobs worldwide has attracted attention from all parties. The Japanese government said that the large-scale layoffs of Soni will bring serious social and economic problems. The Chief Cabinet Secretary, a spokesman for the Japanese government, said yesterday that Soni company decided to cut large-scale layoffs out of the consideration of enterprise operation, but enterprises should consider their social responsibilities, Because the dismissed employees will be in a difficult situation, especially at the end of the year.

Affected by the financial crisis, the business performance of major electrical appliances and automobile factories in Japan has declined one after another, and there have been news of production reduction and layoffs. With the participation of Japanese companies such as Soni company and American IBM Japan branch, the trend of layoffs has spread to large enterprises, and the pressure on Japan's job market has become more and more heavy.

Now Sonny is not in charge of Mr. spending Reduction Fund, but he also enjoys the way of spending reduction. Cutting people and selling assets are the only way.

Sonny hated mm deeply. He thought that mm took away the Pearl on their crown and reduced to today's land. No one can sell it to the American headquarters. The hateful mm bid 100 million higher than the second, which is embarrassing.

Over the years, mm has always asked senior government officials to speak for them and tried to open the door to the Oriental islands. The American government agrees with this. Both the White House and the State Department are happy to speak for them.

Nineteen years ago, under the leadership of Akio Morita, sonny of Japan successively acquired the film and Music Department of CBS, making it a subsidiary of SPE (Sonny film and television entertainment). Under the time and space background at that time, Japan's economy grew significantly and established its position as the world's second largest economy, while the economy of the United States was in a downward slump; Because Japan was defeated by the United States in the Second World War, many Japanese enterprises madly acquired American enterprises for national pride, but many American companies were unable to fight back. Among them, Japan's Mitsubishi group bought the landmark Rockefeller building in New York and Sony bought Columbia's Samsung film company for a sky high price of US $6 billion, creating the largest overseas merger and acquisition in Japan at that time, which was regarded by many extreme Americans as the Japanese invasion of the United States.

The argument of the White House and the State Department is that Japan bought the goddess of liberty with money, because it is a free economy. The Americans recognize it. Now the Americans have money and take back the goddess of liberty, but the Japanese boycott and sanction mm, which violates the law of free economy.

In the past, the American government believed that the Japanese were too chicken bellied to afford to lose. Now, with the great power of mm and their huge lobbyist team active in Washington, the American government's position has become more and more tough, and has publicly accused and criticized the Japanese for interfering with the free market and retaliating for many times.

If Japan prohibits mm from entering, the United States will take the same measures to prohibit Soni products from selling in the United States as retaliation.

This tone is as heavy as eating two kilograms of garlic.

The Japanese are oppressed. When I bought Columbia film, I spent double the price. I was hurt by these Yankees. Now I'm all fat in my stomach. What's the difference between being forced to spit out and robbing? Is this a free trade? And be sued by the wicked first.

This suffocation can kill people.

However, the opinions of American fathers were too important and their influence was too great. The Japanese government had to recognize this "misunderstanding". Mm had the right to invest freely in Japan.

In the eyes of the Japanese government, the Americans cut a large piece of fat in sonny. It's really not a big deal. Do the Americans cut less Japanese wool? More times, you get used to it. You cut it ten or eight times. It's a shame to cut it more than once?

Besides, if the Americans didn't catch them, could they force you to spit out? Kill yourself and blame others for beating? Today, sonny is not necessarily done by Americans. This is due to the general market environment. I can't blame anyone. The global electronic market is shrinking, and Japan is no exception. Why hurt peace for some "small things"?

MM's influence in the world is expanding day by day, and there are rich network resources at the top of the United States. Let such people speak ill of the Japanese day and night. Do you still have a good life? "

Therefore, the government authorities also advised Sonny to put aside his "prejudices", forget the past and start the future, and not to hurt the harmony and traditional friendship between the two countries for some small things.

After the government also intervened to put pressure, sonny was forced to swallow the bitter fruit. In principle, he will no longer oppose MM's entry into the Japanese market. In the brief history of the company, he will also cancel the hostile publicity against mm.




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