Moody's ups Sony view to positive

Moody's Investors Service has changed to positive from stable the outlook of its A2 long-term debt ratings of Sony Corp. and its supported subsidiary, Sony Global Treasury Services plc.

The change reflects Moody's expectation that the company could further strengthen the competitiveness of its core businesses and stabilize overall profitability over the medium term, despite a competitive market, Moody's said.

Over the last few years Sony has revitalized its core electronics business with restructuring measures such as withdrawing from unprofitable product segments, consolidating manufacturing facilities and reducing costs, the agency said.

Moody's said it believes Sony's continuing efforts to focus its management resources on the core businesses with strong market positions, such as consumer electronics, games and entertainment, could further strengthen the company's competitiveness, improve its operating efficiency and stabilize profitability over the medium term.

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