Sony Group Corp. has named Hiroki Totoki as its new CEO, marking a key endorsement for his vision to enhance the company’s entertainment division. Totoki, who has long been the finance chief, has worked alongside outgoing CEO Kenichiro Yoshida to shift Sony’s focus toward expanding its entertainment portfolio.
Recently, Sony has shown interest in potential acquisitions, including well-known companies like Paramount Global and the Japanese publishing house Kadokawa Corp. This strategy emphasizes content creation, which spans PlayStation games, anime, music, and movies, boosting both revenue and profits.
In the last quarter, Sony reported a remarkable 76% increase in operating profit, even while facing weaker demand for its smartphone components and image sensors, which are often used in devices from Apple and Xiaomi.
Yoshida will continue to play an essential role as the chairman of the board. Meanwhile, Hideaki Nishino will lead the game and network services branch, and Hermen Hulst has been appointed as the new CEO of the game studio business. These changes, effective April 1, aim to position Sony for future growth.
Following the announcement, Sony’s shares rose by 4.7% in Tokyo, reflecting renewed investor confidence in the tech sector amid shifting sentiments around AI hardware.
Totoki expressed his gratitude for the role, stating, “I am incredibly honored and humbled to have been entrusted with the important role of President and CEO. I look forward to working with our approximately 110,000 employees to evolve and grow Sony.”
Totoki has already been instrumental in leadership at Sony, having taken on additional titles like president and COO in the past two years. He has also played a crucial role in navigating challenges, including the prolonged supply shortages of the popular PlayStation 5 console.
The recent financial results highlight the impact of several successful titles, illustrating how popular games can significantly influence the PlayStation segment. This year, gamers eagerly anticipate upcoming releases such as Capcom’s Monster Hunter Wilds and Rockstar’s Grand Theft Auto 6.
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Source linkSony Group Corp., Hiroki Totoki, chief executive officer, entertainment offerings, PlayStation games
