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  "documentTitle": "Sony Corporation (6758.T)",
  "authorId": "05_Third_Point",
  "authorName": "Third Point",
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  "presentationDate": "2019-06-13 00:00:00",
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  "notes": "Includes specific references to Sony 2019 IR Day slides 145, 150, and 153.",
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      "text": "However, if Sony Technologies can execute on the growth trajectory laid out at Sony’s 2019 IR Day, we see the potential for the company to: Grow revenue by >50%; Grow operating profit by >100%; Compound value at ~15% annually, and achieve a $35bn valuation in 5 years",
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      "text": "Note: Above financials represent Third Point's interpretation of Sony management's FY25 Semiconductor business unit plan laid out in its 2019 IR Day, not Third Point's estimates.",
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      "text": "In our sum-of-the-parts, we value Sony Semiconductors at ~22bn. However, if Sony Technologies can execute on the growth trajectory laid out at Sony's 2019 IR Day, we see the potential for the company to: Grow revenue by >50%; Grow operating profit by >100%; Compound value at ~15% annually, and achieve a $35bn valuation in 5 years",
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      "text": "Sony 2019 IR Day slide 145: Sony market growth estimates; Sony 2019 IR Day slide 150: Sony FY25 market share target of 60%; Sony 2019 IR Day slide 153: Sony FY25 ROIC target of 20-25% from 15% in FY18.",
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      "text": "FY25 Plan — Building to a $35 billion valuation for Sony Technologies",
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