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Japan-Update

Sony's new CEO looks to close market cap gap with Netflix

Yoshida says balance sheet key to improving corporate value

Kenichiro Yoshida, Sony's chief financial officer and incoming CEO speaks at a news conference on Feb. 2 in Tokyo. (Photo by Ken Kobayashi)

TOKYO -- Sony's management is about to enter a new stage. Under CEO Kazuo Hirai, the Tokyo-based multinational conglomerate succeeded in trimming its loss-making divisions and is set to post its first record profit in 20 years in the fiscal year ending in March.

Starting April, Hirai will hand the reins over to his right-hand man, Kenichiro Yoshida, 58, the company's current chief financial officer. Yet, the transition will be more than just continuing down Hirai's path. The company needs to make a leap into the future, and Yoshida hinted at how he intends to do that in his comments at a news conference announcing the move on Feb 2.

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