Sony's Merger and Acquisition Strategy and Diversification

TapTechNews May 29th news, Sony stated at the company's strategic meeting that through mergers and acquisitions (M&A) can achieve the diversification of personnel and business, which has always been its strength, and emphasized many M&A cases in the entertainment department, including PlayStation Studios.

Sony also said that they will further 'advance the diversification of business and personnel in the future to achieve long-term growth and create value'.

Hideki Totoki, the chief financial officer of the Sony Group, revealed that from fiscal year 2013 to fiscal year 2023, 47 companies have joined Sony's entertainment business, including Insomniac Games, Bungie and the anime agency Crunchyroll, etc., thus adding 5000 new employees to the Sony team.

He said: 'At Sony, we bring together employees from a wide range of backgrounds such as different nationalities, races, genders and values, and with Sony's diversified business structure, provide opportunities for the intersection of knowledge and experience and promote the growth of employees. We are precisely relying on this diversified advantage that combines various attributes and experiences to continuously develop.'

Hideki Totoki also emphasized that M&A enables Sony to maintain diversified operations, including increasing the number of foreign nationals in senior management positions and increasing the proportion of women in management positions. TapTechNews noticed that in order to save operating costs, Sony laid off nearly a thousand PlayStation employees in February this year, accounting for about 8% of all employees.