{
  "docId": "019de06f-d4b7-72ab-9bef-74ff505356b5",
  "docSlug": "e6ccdccde9e4f314d35e33b1eb767bd3",
  "documentTitle": "Third Point Management | Activist Presentation Deck | 102 slides",
  "authorId": "third-point-management",
  "authorName": "Third Point",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 32,
  "pageCount": 102,
  "prevPage": 31,
  "nextPage": 33,
  "slideType": "key_takeaways",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "The slide uses three distinct charts to illustrate the growth thesis for Sony's semiconductor business.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-d4b7-72ab-9bef-74ff505356b5/32",
  "deckHref": "/decks/019de06f-d4b7-72ab-9bef-74ff505356b5",
  "deckJsonHref": "/decks/019de06f-d4b7-72ab-9bef-74ff505356b5.json",
  "deckAnchorHref": "/decks/019de06f-d4b7-72ab-9bef-74ff505356b5#slide-32",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.8,
        "y": 0.5
      },
      "kind": "callout",
      "text": "900bps share gain",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0def9e67-14b1-4bcb-8258-ad5464f5564b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.8,
        "y": 0.2
      },
      "kind": "callout",
      "text": "~7% market growth",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1093a852-8429-4bc1-bc20-1cd45021941c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.15,
        "x": 0.8,
        "y": 0.75
      },
      "kind": "callout",
      "text": "5-10% improvement in returns (and margins)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41350dda-09f7-4000-9b94-92a49e477dfa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.46,
        "y": 0.15
      },
      "kind": "chart",
      "text": "Worldwide Image Sensor Shipments (Revenue Basis)",
      "attrs": null,
      "subkind": "bar-stacked",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5b0e9a86-53aa-45cc-afa0-2edb9ade8e0c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.25,
        "x": 0.46,
        "y": 0.45
      },
      "kind": "chart",
      "text": "Image Sensor Revenue Share Target",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea3e2a5f-ed47-4da7-b4f8-fa81f1f16a65",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.46,
        "y": 0.7
      },
      "kind": "chart",
      "text": "ROIC Target / Roadmap to Improvement",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "26f9a6af-0570-42c8-8287-23c5c2737cb4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.7,
        "w": 0.4,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "list",
      "text": "Sony seems to agree with our bullish outlook on image sensors, outlining ambitious FY25 targets at its 2019 IR Day. If Sony executes on this plan, Sony Technologies would be able to grow profits at a 10-15% rate for the next 5+ years. This growth rate would be unmatched by any other major global semiconductor company of scale today. The coming years will be critical execution years to unlock value at Sony Semiconductors, creating the need for oversight by a dedicated management team and Board of Directors",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b6fc2fbc-36bf-493a-8b11-65af01d25677",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.02,
        "y": 0.08
      },
      "kind": "title",
      "text": "Sony's FY25 Plan – Entering a pivotal time",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cea3e2b6-3477-49f8-9d07-ecaa6ff0eac1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall / value bridge",
      "slug": "waterfall-bridge",
      "agent": null,
      "layer": "slide",
      "matchId": "b076ba1a-32f0-44e4-afbe-a263ceb09a41",
      "evidence": "chart/waterfall-bridge: ROIC Target / Roadmap to Improvement",
      "confidence": 0.8
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "aec8bd32-3309-494e-97dc-d6f36f52f131",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "Slides 21-40 propose solutions, including transforming Sony into a Creative Entertainment Company and spinning off semiconductors",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}