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SONY Sony Group Corporation

84.67
0.13 (0.15%)
Last Updated: 20:32:41
Delayed by 15 minutes
Name Symbol Market Type
Sony Group Corporation NYSE:SONY NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.13 0.15% 84.67 85.38 84.50 85.38 559,876 20:32:41

Third Point Discloses $1 Billion SoftBank Position

21/11/2013 6:30pm

Dow Jones News


Sony (NYSE:SONY)
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Third Point LLC has a $1 billion position in SoftBank Corp. (9984.TO), according to a firm spokeswoman, who confirmed remarks made Thursday by the firm's Chief Executive Daniel Loeb.

Mr. Loeb's detailed the position at an investor conference in New York.

Third Point has recently been investing in Japan and Mr. Loeb has publicly declared support for the monetary policy of Prime Minister Shinzo Abe.

Sony Corp. (6758.TO, SNE) is among his other investments in Japan. Mr. Loeb hand-delivered a letter to the head of the electronics and technology giant and pushed for Sony to separate its film business.

While the company rebuffed that idea, Mr. Loeb said recently he feels the company has taken positive steps and he has continued to meet with management.

Earlier at the same conference, David Einhorn of Greenlight Capital Inc. said his firm has a long position in Micron Technology Inc. (MU), according to sources.

Micron shares were up 5.3% in midday trade at $19.80.

Write to Maureen Farrell at maureen.farrell@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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