Apple Should Buy Sony: Executive Summary
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Apple Should Buy Sony: Executive Summary
- 2. Executive Summary • Apple should buy Sony • Content • Gaming • Expanded Market Share • Cash Acquisition • Challenges • Cultural Integration • Overseas Acquisition
- 3. Who is Sony? • Originating Innovator (1st Generation) • Sony has a unique culture which is firmly rooted in history • Japan’s “Crown Jewel” • Japan takes extreme pride in the Sony brand
- 4. Sony’s Sales and Operating Revenue Per Product
- 5. Sony’s Decline in Product Revenue 2012-2013
- 6. Company Stock Performance - $100 invested on 9/30/07
- 7. Apple Needs Content • Music • Movie • iTunes Radio
- 8. Fast Entry Into the Gaming Market • Eliminate the need to develop a new gaming device • Merge Casual and Serious gamers • Apple TV • Sony PlayStation 4 • iPad/iPhone
- 9. Leverage Sony’s Television Expertise • Single Source for Entertainment • Onboarding Sony’s Technical Experts • Apple TV • Integrate Sony’s Portable gaming device features
- 10. Apple Net Sales Per Region 2010-2012 0 5 10 15 20 25 30 35 40 Americas Europe Retail Asia-Pacific Japan 38 29 15 13 6 35 26 13 21 5 37 23 12 21 7 2010 % of sales per region 2011 % of sales per region 2012 % of sales per region
- 11. Expanded Future Market Share • Apple growth within Japan • Increase Sales • Brand Recognition
- 12. Financing the Purchase of Sony • Use Overseas Cash to Buy Sony • Tax Savings (2% vs. 35%) $0.00 $5,000,000,000.00 $10,000,000,000.00 $15,000,000,000.00 $20,000,000,000.00 $25,000,000,000.00 $30,000,000,000.00 $35,000,000,000.00 35% US Tax Rate 2% Overseas Tax Rate Purchasing Sony: Domestic vs. Overseas Cash
- 13. Sony’s Key Ratios EPS 0.45 Debt to Equity 5.46 Debt to Asset 0.06 Current Ratio 0.85 EPS 45.94 Debt to Equity 0.49 Debt to Asset 0.00 Current Ratio 1.49 Apple Can Afford Sony Apple’s Key Ratios
- 14. Challenges of Acquiring Sony • Cultural Integration of Sony’s Centralized Structure • Overseas Acquisition
- 15. Apple vs. Sony: Different Corporate Cultures Decentralized Centralized
- 16. Conclusion • Take advantage of Sony’s Movie and Music presence • Experience in the Gaming and Television Market • Benefit Apple’s long term strategy: – To become the innovative technology giant