The activist investor’s hedge fund, Third Point, penned an investors letter in which it argues the Japanese company, led by CEO Kenichiro Yoshida, should spin off its semiconductor business.

U.S. activist investor Dan Loeb’s Third Point hedge fund has called on Japan’s Sony Corp. to break up its electronics and entertainment units into separate businesses.

Six years after making a similar pitch, Third Point in a letter to investors said Sony remained undervalued because of “portfolio complexity,” which could be solved by spinning off the semiconductors business into a separate, publicly-traded company.

“Sony’s gaming, music and pictures segments would become the core after the semiconductor spin,” the letter states.

The entertainment-to-electronics group, led by CEO Kenichiro

Read More At Article Source | Article Attribution