{
  "docId": "019dd923-622b-71dc-a6db-28e86a7ca5c3",
  "docSlug": "efcae84676a2",
  "documentTitle": "Sony Corporation (6758.T)",
  "authorId": "05_Third_Point",
  "authorName": "Third Point",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-06-13 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 11,
  "pageCount": 102,
  "prevPage": 10,
  "nextPage": 12,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 17,
  "notes": "The chart highlights that Sony (black bar) is consistently valued lower than its industry peers in every segment.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-28e86a7ca5c3/11",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3#slide-11",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Sony also trades at a meaningful discount to major peers in all of its core businesses",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-5377-73e2-a971-97c54b94594d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "chart",
      "text": "Valuation of peers to Sony's Crown Jewel businesses (EV / '20E EBIT)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "028540b3-4bc3-4e19-bb37-7b37f9d8412d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EV / '20E EBIT: 8.0x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-5377-73e2-a971-990a1fbc1b42",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.83
      },
      "kind": "source-note",
      "text": "Notes: Market data as of 6/11/2019. All multiples based on consensus earnings metrics fully burdened for share-based compensation. Valuation excluding Financial Services.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1de3880-5316-4097-9852-d787853f15e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Sony also trades at a meaningful discount to major peers in all of its core businesses",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f2013d8e-2af6-45d0-9725-cfcec81992e8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "1a27755d-dfb1-4f68-ac0f-affcfdd40e41",
      "evidence": "Direct comparison of valuation multiples between subject and peers",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 12,
      "from": 5,
      "beatId": "1f23ace2-448e-411a-97a0-ff05f0ceef88",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem (Identify pain)",
      "beatSlug": "problem-agitate-solution-problem-identify-pain",
      "evidence": "The deck identifies Sony's current pain points, including its depressed stock price and valuation discount.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [
    {
      "to": 12,
      "from": 5,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "a3a9c54c-7e5b-4b43-9eca-5fa03913482c",
      "evidence": "The deck emphasizes the consequences of not taking action to address Sony's challenges.",
      "position": 0,
      "objective": "Highlight the cost of inaction and the need for transformation",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.8,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}