Sony Corporation (TSE:6758) is considering partial sale of entertainment business. Chief Executive Officer, Kazuo Hirai, said that the board is considering a proposal from shareholders to spin off and list its entertainment business but gave no indication as to whether it was supported in the company, according to the Financial Times. Hirai did not disclose a timeframe for the a decision on the matter.

Sony Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, Net Sales were JPY 1,393,799 million against JPY 1,290,054 million a year ago. Total revenue was JPY 1,733,029 million against JPY 1,600,426 million a year ago. Operating income was JPY 147,145 million against JPY operating loss of JPY 1,412 million a year ago. Income before income taxes was JPY 187,188 million against loss before income taxes of JPY 486 million a year ago. Net income attributable to the stockholders was JPY 93,908 million or JPY 80.41 per diluted share against net loss attributable the stockholders of JPY 255,213 million or JPY 254.30 per diluted share a year ago. For the year, Net Sales were JPY 5,691,216 million against JPY 5,526,611 million a year ago. Total revenue was JPY 6,800,851 million against JPY 6,493,212 million a year ago. Operating income was JPY 230,100 million against operating loss of JPY 67,275 million a year ago. Income before income taxes was JPY 245,681 million against loss before income taxes of JPY 83,186 million a year ago. Net income attributable to the stockholders was JPY 43,034 million or JPY 40.19 per diluted share against net loss attributable the stockholders of JPY 456,660 million or JPY 455.03 per diluted share a year ago. Net cash provided by operating activities was JPY 481,512 million against JYP 519,539 million a year ago. Payments for purchases of fixed assets were JPY 326,490 million against JYP 382,549 million a year ago. The significant improvement in operating income was primarily due to the recording of sale and remeasurement gains associated with the sale of assets undertaken as a part of Sony’s efforts to transform its business portfolio and strengthen its financial structure, a decrease in losses from Televisions in accordance with the Television Profitability Improvement Plan, and an improvement in the operating results of the Devices segment, the Financial Services segment and the Pictures segment. The consolidated sales for the year increased 5% year-on-year to JPY 6,800.9 trillion. This increase was primarily due to the impact of consolidating Sony Mobile, which has a significant increase in smartphone unit sales as a wholly-owned subsidiary and a favorable impact of ForEx and the increase in Financial Services revenue, partially offsetting the increase in sales was a decrease in unit sales of key electronics product and the negative impact, resulting from sales of small and medium-size display business and the chemical product related business. For the fiscal year ending March 31, 2014, on consolidated basis, the company expects sales and operating revenue to be JPY 7,500 billion, operating income to be JPY 230 billion, income before income taxes to be JPY 210 billion, net income attributable to stockholders to be JPY 50 billion, capital expenditures to be JPY 180 billion and depreciation and amortization to be JPY 200 billion.

Sony Corporation (TSE:6758) is seeking acquisitions in medical operations. Kazuo Hirai, Chief Executive Officer of Sony, said, "Sony aggressively seeks to grow its medical operations." He added Sony has been struggling in recent years with losses in its core businesses, and it must expand out of its core businesses and enter new markets, including healthcare. Source added that for now, Sony will keep a business development executive in Israel in a full-time position, he will apparently seek acquisition opportunities in Israel as well as maintaining ties with Rainbow Medical.