Sony's new boss

Same old or new different?

Feb 1st 2012, 19:04 by K.N.C. | TOKYO

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IT WAS a year in coming and some observers were starting to have doubts. But on February 1st Sony tapped Kazuo Hirai to replace Sir Howard Stringer as boss of the troubled Japanese consumer-electronics maker. Mr Hirai exudes sunny Silicon Valley optimism, of which he will need a lot: Sony is expected to soon announce its fourth consecutive year in the red; its share price is close to two-decade lows; and it has no clear road map for recovery.

Sir Howard was meant to be Sony’s answer to Carlos Ghosn of Nissan: a foreign boss who could make tough decisions. But Sir Howard spent the first years of his tenure battling the old guard. He only managed to install his own people in 2009. By then, he was up against the financial crisis and an ever stronger yen, which made Sony’s products more expensive abroad.

Still, the firm was on track to turn a profit in early 2011. But then Japan’s earthquake and tsunami destroyed some of its factories and disrupted supply chains. Later security breaches to its online services and floods at its factories in Thailand added insult to injury. And Sony’s flagship television business keeps losing money, mainly because of a brutal price war. With such headwinds, one can sympathise with Sir Howard: he did not succeed, but he did not entirely fail either (read more here).

Is Mr Hirai, who oversees Sony’s consumer electronics and video game divisions, a lightweight, as his critics contend? Or will he prove to be the perfect mixture, as others say: a Japanese national and Sony salaryman, who is enough of a tough, young outsider to slaughter the firm’s sacred cows? The company needs both—somebody who can bring together a chaotic jumble of divisions that do not trust each other and an axe-wielder.

In picking Mr Hirai, Sony’s board took a risk or acted cautiously, depending on how you look at it. It entrusted the ailing company to someone whose experience largely lies in managing well-run businesses in America, not in turning around gloomy manufacturing operations in Japan. But the board also opted for an internal candidate—when a visionary outsider, able to smash apart what is floundering and inspire the firm to excel once more, might have been a better choice.

Sony never recovered from the loss of its brilliant and charismatic co-cofounder, Akio Morita, who ruled the firm in the same manner as the late Steve Jobs did Apple. But there are reasons to think Mr Hirai may be too cautious a leader for the extent of the crisis facing Sony. When he launched Sony’s tablet computer in April just as the network hacking scandal (and Sony's silence) was making headines, he said nary a word about it. And when pressed by this correspondent during a group interview to explain his strategy for the television business, he dodged the question by mumbling something about waiting for an internal report on the topic. To turn around Sony, he will need to be more courageous than that.

Same old or new different?

Feb 7th 2012, 09:15

For several months, Sony, the biggest exporter of Japan, suffered the thunderstorm and rain but finally walked away from the tumultuous difficulties, ephemeral as clouds and winds if retrospecting. Many media like Business Week, PC World and NHK World has focused on the possible occurrence of transition from the senior to the younger since last autumn.

Being Sony’s first non-Japanese CEO from 2005, Sir Howard Stringer has been trying to improve the lineups in TVs, computers, game players and mobile phones. In the days of Mr. Howard’s control, it was hard to see the marketshare rise in Wall Street’s Dow Jones until last winter. From Business Week’s visit to Mr. Howard last November, the increasing cause of uncertainty make him look frustrated but never give up. Being Top 10 influential businessmen in Japan, he arduously faced the sufferings.

In 2011, Sony’s stock fell 53 percent. The world’s No. 3 TV maker, behind Samsung and LG, has no choice but to terminate some plan to expand business.with the worsen prediction on Sony Bravia Tvs. For example, Sony and Samsung ended their joint venture in the production of liquid crystal display panels last month.

Strong yen and weak won against U.S. Dollar make Japan’s companies in Tokyo and Osaka escalate into the tougher situation in this Northern-east’s historically freezing winter while Samsung celebrates the more gorgeous profits than ever before in recent years. Sony, once worth $50 billion in 1976 and the apex of more than $100 billion in 2000, is now just valued at $18 billion.

This terrible phenomenon strongly relates to Sony’s belief and insistence. While wandering into every vendor offering Sony’s product or visiting the mainpage in the Internet, the slogan “Make. Believe”, always shown for every customer, expresses high confidence of this Japanese electronic giant. For more than one generation, the product made in Japan always symbolizes the high quality, endurance, and more than their nationalism, which Japanese defeated in World War II transformed samurai into.

As Clyde Prestowitz described the rise and fall in his writings “Three Billion New Capitalists” about typical conglomerate and power’s policy after Wold War II, it is Sony’s Akio Morita and Ibuka Masaru that are the heading enterprise which led Toshiba, Panasonic, Hitachi, Sharp and Mitsubishi into the heaven of electronic empires after they won over Ampex. In 1976, Japan’s these conglomerate almost occupied American market concerned of appliance and consumer electronic, letting Japan regain the high position in the world. Then, Sony expanded its high-profitable entertaining network into the wider sky such as pop and classical music, also cooperating with Japan’s enterprises in other aspects. In 1998, TIME respected Akio Morita as the Top 20 global businessmen in 20th century.

Since my childhood, Sony as well as Toshiba are the typically learning lessons of success. Yeah, both Mr. Morita and Mr. Masaru knows my grandfather in law, however, this memory is so far away. And Toshiba’s Norio Sasaki knows me somewhat. Sony always braves the risk of development in new area, intending to use aggressive attack on other such as Nintendo to increase benefit. But every year Toshiba provides creative innovation, taking the conservative way to run business. Their strategy is separately related to their kinds of product. For example, Sony’s electronic product exists the dilemma of high-profit and high-risk and Toshiba’s appliance with strong base is useful and inexpensive for people in East Asia and United States.

In the market of electronic product, Sony still keeps the high-quality as the expression of android tablet. Several months ago, I bought two VAIO S Series (SA33) with my wife due to PCWorld’s introduction, which gave this kind the utmost 99 scores rather than Lenovo X220 (score 97) and Toshiba Protégé R700 (score 89) among the contemporary laptops.

In addition to laptop, Sony constantly develop the consumer product like Walkman (from 1979), Sony Ericsson mobile phone and Bravia TV. The Xperia’s Play quality is almost equal to HTC’s Rezound and Samsung’s Galaxy Nexus. Moreover, Sony always seeks the cooperation with other domain traditionally. The obvious example is Taiwan Quanta’s Lin Bai-li for LED or LCD. Another is Avex for Playstation’s (PSP, shown in Economist’s picture) background. To hold the emperor of videogame, Sony chose “progress” by Ayumi Hamasaki, the Empress of J-Pop, for promotion of inspiration with willingness while players are seeking fun.

Overall, Sony’s flexible development may sustain the risk of rise-fall circle. Sony is good at the market about the district of high-price or say luxurious rank. Moreover, the upcoming Windows 8 and the hot Android 4.0, which features the importance of social network and entertainment - the advantage of Sony, may turn this “bear” company around. Kazuo Hirai having good experience in entertainment seems to recover the honour of 2000.

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筆者因索尼的獨特經營策略及企業管理一直是筆者心目中科技業的天朝上國。說說這六年時間好快喔，SONY史上最年輕社長，出身音樂子公司的平井一夫也即將交出CEO職務給出身網路子公司SO-NET現任CFO的吉田憲一郎，出任沒有表決權的會長，原首席策略長CSO十時裕樹接任CFO。其前任社長Howard Stringer 因索尼連續四財年虧損於2012年離職。在平井任上，做了幾番瘦身後，「世界的索尼」就回來了。平井上任後火力集中Bravia電視機和Xperia安卓智慧手機等業務上質轉變為量的經營方針，推行以高端產品來取勝的結構改革。平井的「掉頭」策略，配合重整計畫而喊出「One Sony」概念與三人的合作使得索尼的營業利潤4年增至4倍，日經股價超越4000日圓，2017年的淨利潤因美國稅制改革增至4800億日圓。

「For several months, Sony, the biggest exporter of Japan, suffered the thunderstorm and rain but finally walked away from the tumultuous difficulties, ephemeral as clouds and winds if retrospecting.」第一段筆者是借用2005年5月22日紐約時報Nicholas D. Kristof 紀思道的從開封到紐約-繁華如過眼雲煙的標題：「China, the world's Capital.....glory is as ephemeral as smoke and clouds」。但是在這裡，筆者並非說這一手撐起日本工業出口的巨人會衰亡，而是任何困難及麻煩，筆者很相信索尼終究會遠離這風風雨雨，一下子就晴空萬里了。當時在美國道瓊的掛牌股價一年就跌了53%，日圓走強讓電視機雖還可以排第三名但其他產品銷售量已經落後許多，而營利能力也備受批評。總資產當年正在清算一次，是約2003年最高值的15%。還記得當年北極風暴直接導致東北亞日本和韓國的歷史酷寒紀錄，如首爾有零下20度以下的低溫，整個日本企業呈現虧損，2012第一季索尼計有$312百萬虧損，2012年全年松下因電漿電視式微而有$75億損失。

當年很關注電腦及科技產品的動態，靠得是Business Week, PC World 及 NHK World，現在大多用Facebook的頁面瀏覽這些了。雖說當年一片唱衰，但是篇幅不小而引起廣泛討論，卻也救活了這個二戰後的亞洲神話企業。索尼的創始者「經營之聖」盛田紹夫家裡本來是賣酒的，在1945年大阪帝國大學物理系畢業後，與早稻田大學理工學部畢業的井深大一同投資開設「東京通信工業株式會社」，1954年出產日本第一台晶體管收音機TR-55。1958年改名SONY，意思是可愛的孩子。1960年起投資美國，擔任美國索尼公司社長，開始在北美鋪貨販售電視機。1970年在美國股票上市後以及在1970年代中期石油危機，索尼和日本的東芝Toshiba、松下Panasonic、日立Hitachi及一些工業品牌如富士Fuji、尼康Nikon和三菱重工Mitsuibishi靠著較低廉的成本及打出完整售後服務銷量大增，取得壓倒性勝利。此後索尼確立了在消費性電子產品的霸主地位，比如1979年7月問市的Walkman TPS-L2 隨身聽的歷久不衰，連在Merriam-Webster大學辭典都查得到的字，就像Xerox影印機那樣，在2014年6月被日本發明協會統計為和新幹線並列的半世紀日本兩大發明。1998年，盛田被美國《時代週刊》評選為20世紀20位最有影響的商業人士之一，他是20位入選者中唯一的亞洲人。美國前國務卿Henry Kissinger曾經認為他能夠以非日本人的方式交流，是日本少數精通英語而最具外交能力的日本人。而深知美國文化及傳銷管道的他，帶領索尼從電子產品跨足到音樂及電影界，其與二十世紀當代名指揮家卡拉揚Herbert Von Karajan的友情摯為美談。井深大也很重視科普和中小學生科學能力，在當時之前東京品川區御殿山總部就設有科普示範教學室，以培養下一代對科學科技的興趣，當然也希望這些長大會來當索尼的粉絲啦。井深大的女兒年幼時連續高燒致殘，因此井深除了在電子事業成就外，他也重視中小學的理科教育，在他的宣導下，1959年索尼公司在日本全國28所小學首次設立科學教育課程，井深先生於1969年設立了幼兒開發協會，積極地獻身於幼稚教育的研究，他在幼稚教育方面提出的許多厚實日本基礎科學教育的主張，被稱為「井深理論」，和「經營之神」松下幸之助在生活及修養品格方面的「松下遺教」並列（「在這世上有千百種的職業，而在這麼多行業當中，只有一種是我很想親身嘗試的行業，就是建造房子：良家、我想一個人的尊嚴，並不在於他能賺多少錢，或獲得了什麼社會地位，而在於能不能發揮他的專長，過有意義的生活。一百個人不能都做同樣的事，各有不同的生活方式。生活雖不同，可是發揮自己的天分與專長，並使自己陶醉在這種喜悅之中，與社會大眾共享，在奉獻中，領悟出自己的人生價值，這是現代人普遍期望的。」）在二十世紀的日本企業史上相互輝映。為表彰他在推動國民教育方面的突出貢獻，1972年公司成立了專門負責開展教育方面公益活動的索尼教育振興基金。

筆者在此推崇這波1960年代後日本企業的全球化，約在日本二戰後工業化、東京奧運之後的一些有才能的企業主帶領日本的企業及自由主義興盛，也構築了新的政商關係。像經團連，傳統上就對日本政治的影響力很大，尤見於選舉期間。在Clyde Prestowitz的「崛起的四大國」歷久彌新的書中就有提到盛田和井深大是最顯著的例子，投資美國及擴張版圖的策略可作為BRIC金磚四國(作者克氏全球首倡巴西、俄羅斯、印度和中國加上學界後來認為的南非，在一波戰後NIEs新興國家工業體之後的投資潮之標的)的新興企業及三十億(現在當然人口不只這樣啦)人市場經濟新機遇的樣版。看看這四國和亞洲四小龍企業主，只有今年提出退休的李嘉誠和郭台銘等人有資格和盛田相提並論吧＠＠！

東芝和索尼在日本企業管理上就是兩個很典型而風格截然不同的模式。是很小以前筆者對企業管理的認知，大概就是這兩間附近，取個ax+by=z的Z管理的內分點問題啦。還有兩種是目前靠恢復大部制挺住門面的松下及一般店鋪傳統老將，已被鴻海集團併購的夏普。索尼說穿了就是整天賭博，就算在2012年財務重整後有經營投資房地產的新銳部門，和電子產品的業務性質相差稍遠，大抵還是以賣大樓跳樓拍賣的想法在做生意，像在美國的2011年拍賣之前AT&T也當過總部的大樓籌得營收那樣。索尼是很美式風格的企業，活力一直很夠，彈性也很大。而東芝就是稍嫌保守，家族企業結合，不過技術嚴謹，裡面研究發達不輸美日一流自然科學與科技系所，傳統上敏學好讀，這在以後聊到東芝的會計醜聞風波會再詳談。

索尼衍生了許多子品牌，除了主力Bravia、Xperia、Walkman，還有已經分家的筆電部門VAIO，攝影機Handycam，數位相機Cyber-shot，電動玩具Play Station 系列的PSP及PS Vita，以及近年來h-ear耳機及AIBO機器人系列。當年的VAIO想起來很威風喔～在PCWorld的2011年8月曾接受測試，算起來是SB38的型號而不是文上面的SA33 ==" ，得到了無與倫比的99分高分，推翻並險勝兩個月前接受評比的Lenovo x220 (i5-2520M款)及2009年12月的Toshiba Protégé R700 (i5-520M)。最後筆者購買顯示器較高的SA33，原廠面板是廣達電腦提供及組裝的，結合品質和價格，他牌的i7大部份要五萬多元，這台是在2011年冬季世貿一館台北電腦展買的，直到2015年4月完全開不了機為止。筆者這幾年另外還購買Cybershot WX1、WALKMAN F886 (日本公司貨)、SONY硬碟SP1及B1數台、充電器和MS Pro-HG DUO卡片、Xperia Play及Z2a與電樞耳機XBA-C10系列，很好的數位體驗。

再來筆者提到索尼在手機領域仍然奮戰不懈，列出Xperia Play在PCWorld評比有90分左右，又可以拿來打李小龍功夫電動，稍落後HTC的 Rezound和三星Galaxy Nexus一些些而已。而原來經濟學人雜誌的圖片，由平井手上所拿者是指PS Vita，引用有點錯誤 =="。筆者列出索尼最經典的異業結盟(horizontal alliances)，和流行音樂宿敵AVEX合作，與濱崎步這個敵人共枕，共同參與企畫單曲Progress是為新一波PSP發行沒錯，而打擊當時電玩機台市佔第一的任天堂成功。這首在2011年8月問市，在眾家新秀強打下，步姐仍然老神在在，「純真的臉龐隨風吹拂，那就再讓我風光一次」這句唱出了索尼高層的心聲。這塊玩利基及邊際成本遊戲的電玩市場，滿足了廣大的御宅族(Otaku)，是維持索尼門面的一大戰場，它和任天堂共同建立了一個日本次文化的卡漫、同人誌和傳奇故事的聲光大平台。筆者最後拿索尼一直是在高端的天王暨天才，若能抓穩Windows 8和Android已達4.0-4.1的問市時機，再拼一場稱霸市場其實不為過，至少營收會回流如今天的股價一般。