{
  "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": 58,
  "pageCount": 102,
  "prevPage": 57,
  "nextPage": 59,
  "slideType": "timeline",
  "function": "diagnose_problem",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "Includes a timeline diagram and two sections of investor relations commentary.",
  "elementsJson": [
    "headline_text",
    "timeline_visual",
    "bullet_list",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-28e86a7ca5c3/58",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-28e86a7ca5c3#slide-58",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.82
      },
      "kind": "callout",
      "text": "The console game market is becoming inherently less cyclical, because new consoles have: (1) standardized PC-based architecture, (2) full backward compatibility, and (3) greater reliance on recurring revenue",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cd8aeda8-731b-43ba-8181-e6dc6045d580",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "diagram",
      "text": "Historical console release timeline",
      "attrs": null,
      "subkind": "timeline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "12c41d82-e890-42fe-82d5-2aa76570c79b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.05,
        "y": 0.4
      },
      "kind": "list",
      "text": "Historically new console platforms were released every 7-8 years; Software architecture was different; Not backwards compatible.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b18f5371-3e4d-4c0d-b80f-74936bcd5cea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.55,
        "y": 0.4
      },
      "kind": "list",
      "text": "With 2016/2017 generation, moving toward incremental upgrade model; New version every 2-3 years with full backward compatibility.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "faac4682-9273-46ad-b7cd-4386dc6aa889",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "Microsoft and Sony woke up to the fact that building highly customized console hardware creates compatibility issues with the previous console, which is negative for the consumer as well as developers — EA CFO Blake Jorgensen, Nov 2017. Although we need to be cautious of potential volatility in profitability due to the console cycle, we are working to mitigate the volatility by leveraging the more than 92 million units cumulative install base of PS4 to benefit from new business models created with Network Services and add-on content sales — Sony CFO Hiroki Totoki, Feb 2019.",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-5378-7467-9505-4f0c1cd9b6b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.55
      },
      "kind": "table",
      "text": "Company commentary re: console cycle",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5577a364-3442-4f79-b823-274fddae9590",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "...but Sony and Microsoft have mitigated cyclicality by introducing backward-compatible hardware and transitioning to recurring revenue",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "24c206e7-a94c-4135-98cc-0ba8f3843307",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "timeline",
      "slug": null,
      "matchId": "241db11c-1094-4b71-ab15-81c57eb72cda",
      "evidence": "Historical console release timeline",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 102,
      "from": 21,
      "beatId": "7f85f16a-4957-4f37-b8df-1517555ea81a",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck proposes solutions to Sony's problems, including transformation and spin-off of businesses.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}