Company focusing on PlayStation Network services following hacks; shares down 30 percent so far this year.
The past few months has been tough on Sony, thanks to the PlayStation Network service going down in April and a hacker attack that saw more than 100 million accounts compromised. Sony Corporation CEO Howard Stringer recently told shareholders during the company's recent annual shareholder's meeting in Japan that about 90 percent of PlayStation Network users have returned following the restoration of the system. According to the rest of the report from BusinessWeek, Stringer said that the trust toward the brand is rising.
Stringer also said that Sony will strengthen network security and seek to regain customer trust even after the hacker incident in April. Regardless, Sony Corporation reported a third consecutive annual loss for the 12 months ended on March 31, with the company's shares declining by 30 percent this year. In addition, the PSN intrusion may cost the company ¥14 billion ($173 million) this fiscal year.
According to another report on Impress Watch, when suggested by a shareholder during the meeting that the hacker attacks were a response to comments made from Sony's management, both Stringer and executive vice president Kaz Hirai said that the company was targeted because they took many measures to protect their games-related intellectual property.
Sony's 94th annual shareholder's meeting was attended more than 8,000 shareholders and was held today in Tokyo, Japan.