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Shareholders quiz Sony over Third Point's spinoff proposal

Company sidesteps topic as retail and institutional investors weigh activist fund's argument

The activist fund Third Point is pressuring Sony to spin off its image sensor business, which commands 70% of the world market for smartphone image sensors by revenue.    © Reuters

TOKYO -- Shareholders are pressing Sony over its plans to generate greater value for investors after activist fund Third Point called for a spin off of the conglomerate's image sensor business.

At the company's annual general meeting in Tokyo on Tuesday, Sony President Kenichiro Yoshida deflected a question from one shareholder about Third Point's proposal. "We cannot comment on specific shareholders," Yoshida said. "Sony will continue engaging with all of its shareholders and investors."

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