When: Today, Thursday, May 30th
Where: CNBC's "Closing Bell"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Sony President & CEO Kazuo Hirai today, Thursday, May 30th on CNBC's "Closing Bell." Here is a link to the embeddable video: http://video.cnbc.com/gallery/?video=3000172282.
All references must be sourced to CNBC.
HIRAI ON SONY SPINOFF
THE PROPOSAL IS THAT WE LOOK TO SPIN OFF ABOUT 15 TO 20% OF OUR ENTERTAINMENT ASSETS. AND THE PROCESS REALLY IS, AS WAS DESCRIBED EARLIER, A DISCUSSION THAT NEEDS TO HAPPEN REALLY AT THE BOARD LEVEL OF THE ORGANIZATION.AND WE WANT TO MAKE SURE THAT WE HAVE A THOROUGH DISCUSSION OF THE MERITS OF THE PROPOSAL BEFORE WE COME TO ANY CONCLUSION.
HIRAI ON ELECTRONICS
GIVEN THE PROPER STRATEGIC PRIORITIZATION OF WHERE WE NEED TO BE IN THE BUSINESS, AND REALLY FOCUS ON EXECUTING THESE PRIORITIES, THAT, WE CAN, IN FACT, TURN THE TV BUSINESS AROUND, OR THE ELECTRONICS BUSINESS AROUND. A GREAT EXAMPLE IS THE TV BUSINESS, WHERE AS WE HAD COMMITTED TWO YEARS AGO, WE HAVE HALVED OUR LOSSES LAST FISCAL YEAR AND WE'RE AHEAD OF PLAN IN TURNING THAT BUSINESS AROUND.
HIRAI ON JAPAN
I THINK THE ABE ADMINISTRATION AND THE GOVERNMENT IS REALLY, THEY'RE SAYING THE RIGHT THINGS, THEY ARE REALLY PUSHING THE RIGHT AGENDAS, AND I THINK IT'S JUST A MATTER OF MAKING SURE THAT THEY REALLY STICK TO THEIR POLICIES AND GIVE THE OPPORTUNITY FOR THE POLICIES TO REALLY TAKE HOLD.
HIRAI ON SONY SMART PHONE
WE HAVE PACKED IN THE BEST OF SONY'S TECHNOLOGIES, FROM DIGITAL IMAGING TO IMAGE QUALITY TO AUDIO QUALITY INTO THIS PARTICULAR SMARTPHONE PRODUCT. AND I THINK THAT, ESPECIALLY IN THE HIGH-END MARKET, THIS KIND OF PHONE, WITH A LOT OF FEATURES PACKED IN, WILL GET A LOT OF APPEAL AND CERTAINLY TRACTION HERE IN THE U.S. MARKET, AS IT HAS DONE IN JAPAN.
HIRAI ON LOEB PROPOSAL
IT'S SOMETHING THAT WAS PART OF THE PROPOSAL, AND WE, INCLUDING THE BOARD, NEED TO GIVE IT SERIOUS CONSIDERATION, AND THEN COME TO A DECISION AND MOVE ON.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/