Sony Promotes CFO Hiroki Totoki To President


Hiroki will replace Kenichiro Yoshida as the president of Sony Inc.

Japanese electronics conglomerate Sony appointed veteran executive and chief financial officer, Hiroki Totoki, as its president and chief operating officer (COO) to lead the company, after it reported a 6% decline in net profit for the quarter that ended in December.

Totoki will take over from the current president Kenichiro Yoshida at the beginning of the next fiscal year. Yoshida would remain chairman and chief executive officer (CEO) signalling continuity at the Tokyo-based maker of Bravia TVs.

In a statement, Totoki expressed his gratitude towards the new appointment and said, “I am grateful to Kenichiro Yoshida and the board of directors for their trust in newly appointing me to the roles of President and COO, and at the same time feel a great sense of responsibility.”

He outlined his plans for the company and added, “Together with Mr Yoshida, the Sony Group’s management team, and our employees around the world, I would like to create a positive spiral that begins with Sony being chosen by customers, which then energises our employees, enables us to attract more new talent, increases our corporate value, and ultimately enables us to give back to society.”

Last week, Sony reported a 6% decline in net profit for the October-December quarter, at $2.5 billion (326.8 billion yen), down from $2.617 billion (346 billion yen) a year earlier. Quarterly sales grew 13% to $23 billion (3 trillion yen).

Sony makes camera sensors for Apple’s iPhone. The company is struggling with a global mobile market contraction. Its PlayStation console production has managed to recover from COVID-era disruptions toward the end of last year.



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