business

Sony CEO praises 'Abenomics'

28 Comments
By Yuri Kageyama

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28 Comments
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Of course he loves Abenomics. He is a corporate CEO and just had his corporate tax cut and doesn't have to pass it on to his employees. He just got richer and so did Sony, at the expense of the middle and lower classes.

8 ( +13 / -5 )

Aahhh... Yet another yes-man with his head bowed and his hand reached out perhaps?

These so called abenomics is so far... what? Sure, Abe can talk, but so far he has promised everything between the sun and the moon, without actually delivering on anything. What Hirai is doing here is trying to artificially create consensus that Abe's policies are good, true and the way for the future. He does it in his role as a CEO of a company that has long since lost its mojo. Japan Inc. would love for the public to be a easily swayed by the insular mindset of the Japanese public of the '50's but it seems this time, it won't be that easy.

Japan has already tried what Abe is now regurgingly trying to promote. Problem is, while Japan is still in the same era mentally, much of the outside world has moved on. I don't think the same policies that was used back in the 50's/60's can do the trick this time.

4 ( +8 / -4 )

Sony made a profit by selling off assets, Abe's got nothing to sell but propaganda but "Every Thing Is Under Control" !

5 ( +7 / -2 )

"Abe can talk...without actually delivering on anything."

The effects of stimulus policies take a while to be felt, but Japan's GDP for 2013 was recently upgraded to 3.8%,

-2 ( +4 / -6 )

Looks like we are too blind to what Japan has achieved under 'Superman" Abe as the Economist magazine cover portrayed him earlier this year!

0 ( +1 / -1 )

It lowered the price of yen... of course he is happy.

2 ( +4 / -2 )

JeffLee - That GDP result is fantastic if you don't consider the ever expanding national debt.

0 ( +3 / -3 )

JeffLee:

...Japan's GDP for 2013 was recently upgraded...

While I am sure that may look good to the choir, I am talking longer term. Abe promises a lot of things but any reasonable person would question such a guy. Japan has got blinders on if it thinks it can return to the old "spend-and-smile" days. Those times are gone. I think (hope) Japanese of today and tomorrow go back to their thriftier selves. If they do, the oyaji spending ideas will not work.

We shall see...

2 ( +5 / -3 )

Abenomics also includes raising the salaries of employees. If Mr Hirai is such a fan, perhaps he can tell us what pay rise Sony employees received this year?

4 ( +5 / -1 )

I'm sure the MANY thousands of Sony employees who lost their jobs over the last few years are very happy to see this

4 ( +5 / -1 )

“From my perspective, he is saying all the right things,”

Show me a corporate executive, with their shiny new tax cut or bailout package, whose perspective differs and I'll show you my pet unicorn. The other problem with this is that, yes, they are the things he is SAYING (keep in mind he also said everything at the Fukushima plant is 'under control'!), not necessarily the things he is doing. I mean, he said my household income would increase -- but so far all I'm seeing from Abenomics is increase cost of food, decrease in the rate if I send money home, lots of people losing their jobs, tax increases on the horizon, etc.

1 ( +3 / -2 )

None of us here feel the Abonomics upside, that is because we are mearly stone draggers and of no consequence, who cares if we can not eat....just go to work that's enough.

5 ( +5 / -0 )

But of course. He has been making money on the stock exchange. All the rich are. The poor meanwhile struggle even harder to survive under the cost increases from the yen devaluation policy and even more when the increased sales tax takes place. Abenomics only benefit the politicians, rich shareholders and the corporates and no one else outside this group.

0 ( +0 / -0 )

Of course he praises Abenomics - because it is all about benefiting big business. Now the average Taro that lives from paycheck to paycheck is another story..

2 ( +3 / -1 )

Sony CEO praises 'Abenomics'

loan approved despite bad credit (!)

4 ( +4 / -0 )

@Disillusioned

You took the words tight out of my mouth!. ...and now for the opinions of the CEOs of Honda, Panasonic and Toyota to assure us that all is wonderful.

1 ( +1 / -0 )

So far Abenomics is merely printing more money, and more government spending. Are we supposed to believe that this is anything special?

What I want to see is this so-called third arrow, and if it really has a sharp point. Otherwise Abenomics is just another government "print-and-spend" spree which profits politicians and special interests, and then sticks us with the bill.

1 ( +4 / -3 )

Yep, if I were the head of a global corporation I would have sparkly eyes too. Weak yen -> better for exports, corporate tax cut -> can keep more of my profits. And who says I have to raise salaries, I can always give promises and post-pone them year by year :-)

4 ( +4 / -0 )

Is that an Apple computer in the foreground of the picture. Not cool media reporter...

0 ( +0 / -0 )

Abenomics also works for many other except large corporations. These are the people that have to live and balance their business and lives through many things like exchange rates and recessions. I had my income halved by the recession and the strong Yen a few years back. I worked my way out of it by grafting and being able to adapt, If foeigners cannot do well and have to moan about a little tax increase and a small ride in prices then they need to look at themselves, buck their ideas up and take advantage of Abenomics.

-1 ( +2 / -3 )

Sony is a public company, which means you can BUY SHARES in it's success people. Instead of just whinging about how corporations are benefiting from Abenomics, why don't you take matters into your own hands and get some of that action?

You would have doubled your money in the last 12 months and probably be singing from an entirely different song sheet right now. I encourage people to stop wringing their hands and gnashing their teeth and get proactive - it's entirely up to you.

1 ( +3 / -2 )

You would have doubled your money in the last 12 months

May as well take your money to Vegas... check Sony stock since 2000. Not many smiles there... Sony only balanced the books recently by "selling the family silver", not much going on product wise that competitors can't beat on tech and price.

1 ( +3 / -2 )

I don't know if abenomics is working but there is nothing wrong with the propaganda machine.

1 ( +3 / -2 )

Gobshite

By all means go to Vegas, be my guest. This article is about Abenomics, so the 10 year SP isn't relevent. But fine, keep your money in the bank at whine away.

1 ( +2 / -1 )

Ah well, is this, perhaps, the final nail in Sony's coffin?

-1 ( +0 / -1 )

"Sony CEO praises 'Abenomics'"

Why wouldn't he praise corporate welfare?

1 ( +3 / -2 )

Tamarama: not everyone has the necessary wealth to speculate. People just want to be able to have a decent life from their work. And this is an honorable viewpoint because they produce value. Speculators do not produce anything. I do respect investors, but not speculators.

3 ( +3 / -0 )

other than Abenomics, there is no other formula that will save Japan.

It is just easy for others who are not actually working and living in Japan to criticize Abe's economics policy.

Corporate welfare in Japan is improving since more than 20 years that I have been here. I am working now at 9 and go home at 5PM together with so many of my Japanese and foreigner friends.

Most of the small industries here are supporting big companies like Sony. The good effect of Abenomics may not trickle down immediately for others to feel. But without Abenomics, Japan's economy will nose-dive faster than anybody can think.

My kids and the kids of my friends are continously receiving monthly allowance of 7000 to 15,000 yen per month. Free medication and hospitalization up to 15 years old. Free Ambulance and free guidance counsellors and door-to-door service for kids with special needs.

-2 ( +0 / -2 )

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