Sony Shrugs Off Hedge Fund's Spinoff Plan At Annual Meeting

Law360, New York (June 20, 2013, 1:47 PM EDT) -- Sony’s top executive brushed off an activist investor’s hotly contested spinoff proposal at the company’s annual meeting on Thursday, saying again that the electronics maker’s music and movie segments are not up for sale.

Instead, the units are pivotal pieces of the sputtering company’s long-range vision for itself to recoup losses and reclaim its position as a global market power, Sony CEO Kazuo Hirai told shareholders at the summit. Sony has been under fire as its flagship electronic business has floundered.

Hirai did not specifically detail...
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