索尼(Sony)日前的財(cái)報(bào)顯示五年來首度出現(xiàn)年?duì)I收凈利，這似乎反映了日本經(jīng)濟(jì)復(fù)蘇，但可能只是曇花一現(xiàn)──該公司執(zhí)行長恐怕沒時(shí)間開香檳慶祝。在此同時(shí)，就像其它日本廠商一樣，日圓貶值也對Sony的最新財(cái)報(bào)結(jié)果產(chǎn)生影響。
Sony 的業(yè)績好轉(zhuǎn)與該公司積極為公司“減重”有很大關(guān)系，不過其核心電子業(yè)務(wù)如電視、智能手機(jī)卻沒幫上什么忙；數(shù)十年來，消費(fèi)性電子產(chǎn)品一直被視為日本的強(qiáng)項(xiàng)，但Sony的電視與智能手機(jī)業(yè)務(wù)仍呈現(xiàn)虧損狀態(tài)。
根據(jù)Sony公布的數(shù)據(jù)，該公司在1月到3月的季凈利為939.1億日圓(約9.485億美元)；而去年同期則是虧損2,552.1億日圓；當(dāng)季營收成長8.3%，達(dá)到1.733兆日圓，營業(yè)利潤(operating profit)為1,471.5億日圓。
總計(jì)Sony截止于2013年3月31日的財(cái)務(wù)年度營收為2,301億日圓(24億美元)，該年度凈利為430億日圓(45.8億美元)；針對Sony轉(zhuǎn)虧為盈的表現(xiàn)，市場研究機(jī)構(gòu)EuroTechnology 創(chuàng)辦人Gerhard Fasol做出以下分析：
“Sony 出售了美國總部大樓，以及位于東京大崎(Tokyo-Osaki)的總部大樓；該公司也出售了化學(xué)業(yè)務(wù)部門，并將手機(jī)社交網(wǎng)絡(luò)游戲公司DeNA股份、以及 部分對云端醫(yī)療IT公司M3的股份脫手，重整剩余投資價(jià)值?！盕asol表示：“以上所有交易帶來26億美元的營業(yè)利潤，與財(cái)報(bào)中公布的營業(yè)利潤數(shù)字相當(dāng)。”
因此他的結(jié)論是：“我認(rèn)為Sony恢復(fù)獲利是因?yàn)橥瓿刹糠仲Y產(chǎn)的出售以及重新評估(revaluations)，并不是因?yàn)殇N售任何革命性新產(chǎn)品?！?
Sony各業(yè)務(wù)部門業(yè)績 (單位：十億日圓)
Source：Eurotechnology3bVesmc
從以上Eurotechnology 提供的表格可以看出Sony不同業(yè)務(wù)部門的營利/虧損狀態(tài)，并會發(fā)現(xiàn)一個(gè)顯而易見的事實(shí)──Sony不再是一家電子廠商，其大多數(shù)利潤是來自旗下的金融服務(wù)公司(Sony-Finance，在日本經(jīng)營人壽保險(xiǎn)與信用卡業(yè)務(wù))以及娛樂事業(yè)(Sony Pictures與Sony Music)；而其電視機(jī)與手機(jī)業(yè)務(wù)只會挖公司的墻角。
更糟的是，看來并沒有立即解決方案可讓Sony的電子業(yè)務(wù)轉(zhuǎn)虧為盈；對此 Sony 首席財(cái)務(wù)官加藤優(yōu)(Masaru Kato)在一場記者會上表示：“電子業(yè)務(wù)所處的市場環(huán)境與競爭狀況仍然嚴(yán)峻?！?
本文授權(quán)編譯自EE Times，版權(quán)所有，謝絕轉(zhuǎn)載
本文下一頁：Sony已經(jīng)跌出智能手機(jī)市場前五大排行榜
相關(guān)閱讀：
• Q1全球半導(dǎo)體廠商Top20，日系集體受創(chuàng)
• 索尼5年來首次盈利，重振全靠智能手機(jī)
• 索尼40名高管因未能扭虧為盈放棄巨額獎金3bVesmc
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盡管眾所矚目的新一代Sony游戲機(jī) PlayStation 4 將在今年稍晚上市，該公司預(yù)期視頻游戲機(jī)業(yè)務(wù)的本財(cái)務(wù)年度獲利表現(xiàn)持平。至于被Sony首席執(zhí)行官平井一夫(Kazuo Hirai)視為公司復(fù)蘇另一大關(guān)鍵的手機(jī)業(yè)務(wù)，除了額外的組織重整，在美國與中國市場仍看不到顯著成長。
根據(jù)市場研究機(jī)構(gòu) Strategy Analytics統(tǒng)計(jì)，2012年Sony在美國手機(jī)市場的占有率不到1%。另一家市場研究機(jī)構(gòu)IDC的數(shù)據(jù)則顯示，Sony在2012年第四季為全球 智能手機(jī)市場排名第四大廠商，當(dāng)季市占率為4.5%；但在2013年第一季，Sony已經(jīng)跌出前五大排行榜。
2013年第一季全球智能型手機(jī)市場各廠商占有率
Source：IDC3bVesmc
本文授權(quán)編譯自EE Times，版權(quán)所有，謝絕轉(zhuǎn)載
編譯：Judith Cheng
參考英文原文：Yoshida in Japan: Sony no longer an electronics company，by Junko Yoshida
相關(guān)閱讀：
• Q1全球半導(dǎo)體廠商Top20，日系集體受創(chuàng)
• 索尼5年來首次盈利，重振全靠智能手機(jī)
• 索尼40名高管因未能扭虧為盈放棄巨額獎金3bVesmc
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Yoshida in Japan: Sony no longer an electronics company
Junko Yoshida
What appears to be an economic recovery in Japan – reflected in Sony’s first annual net profit in five years announced Thursday – could be little more than a blip.
TOKYO -- What appears to be an economic recovery in Japan -- reflected in Sony’s first annual net profit in five years announced Thursday -- could be little more than a blip. It’s hardly time to pop the champagne and toast Sony’s CEO.
Sony’s apparent turnaround has a lot to do with the company’s aggressive efforts to offload its assets, and less with its key electronics business such as TVs and smartphones, for which Japan’s iconic CE brand has been known for decades. Both TV and smartphones remain in the red.
Meanwhile, as with all other Japanese companies, a weaker yen has contributed to Sony’s latest financial results.
Sony posted a net profit of 93.91 billion yen ($948.5 million) in the January-March quarter, compared with a loss of 255.21 billion yen in the same period a year earlier. Revenue rose 8.3% to 1.733 trillion yen, while it swung to an operating profit of 147.15 billion yen in the quarter.
As for the company’s preliminary consolidated financial results in the fiscal year ended March 31st, 2013, Sony is reporting 230.1 billion yen (US$ 2.4 billion) in operating profits, and 43.0 billion yen (US$ 458 million) in net profits.
In analyzing where exactly Sony’s profits came from, Gerhard Fasol, founder of EuroTechnology, broke it down as follows.
“Sony sold the US headquarters building, sold a headquarter building in Tokyo-Osaki, sold a chemicals division, and sold the investment in the mobile social games company DeNA, sold part of the investment in the (fascinating) cloud-based medical IT company M3 and restated the value of the remaining investment,” he explained. “All these transactions resulted in combined operating profits of US$ 2.6 billion, almost equal to the reported operating profits.”
In sum, “it seems to me that the return to profits was achieved by asset sales and revaluations -- not by selling revolutionary new products,” he added.
SONY: propped up by life-insurance sales, real estate and asset sales
Click on image to enlarge.
Unit: operating income (billion yen)
Source: Eurotechnology
If you take a look at the chart above provided by EuroTechnology that shows operating profits/loss for Sony’s different divisions, one fact becomes suddenly clear.
Quick fix for mobile?
Sony is no longer an electronics company. It generates most of its profits from its financial services company (Sony-Finance), which sells life insurances and credit cards in Japan, and entertainment businesses (Sony Pictures, Sony Music). The company’s TV and mobile phone businesses are clearly dragging Sony’s bottom line.
More troubling is that no quick-fix solutions seem available to turn its electronics businesses profitable. Touching on that subject, Sony's chief financial officer, Masaru Kato, was quoted at a news conference, "The market environment and competitive landscape remains severe in the electronics business."
Despite the much-anticipated, new PlayStation 4 consoles’ scheduled launch later this year, Sony is expecting videogame profits to be flat in this fiscal year.
Mobile phones are another key area Sony’s chief Kazuo Hirai is counting on the company’s recovery. Again, beyond the additional restructuring measures in its business, Sony’s prospects for any meaningful gain in share in the U.S. and China markets remain murky.
Strategy Analytics noted that Sony captured less than 1 percent of the U.S. market in 2012.
IDC ranked Sony fourth globally on the smartphone market in the fourth quarter of last year with a 4.5 percent share. But in the first quarter this year, Sony fell off the top five entirely.
source: IDC
責(zé)編：Quentin
