(MENAFN) Sony Corp. said it will spin off its audio and visual equipment business in October to cut costs as part of its restructuring plans after years of losses, Kyodo News reported.
Unveiling its latest multi-year strategy, Sony President also said the Japanese electronics and entertainment company aims to log a group operating profit of at least USD4.2 billion for the business year through March 2018.
As part of the structural reform, Sony has already spun off its TV operations and sold its personal computer division, while announcing thousands of job cuts in its mobile phone unit and other segments of the company.
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