Sony Corp’s top executives will return their annual bonuses as the company’s electronics business struggles with losses, the Nikkei reported.<\/p>\n
About 40 executives involved with the electronics and headquarters operations will give up amounts equivalent to 30-35 percent of their annual pay as proposed by Chief Executive Kazuo Hirai, the daily said.<\/p>\n
The bonuses to be handed back could reach as much as 1 billion yen ($9.8 million), the Nikkei reported.<\/p>\n
Sony will report on Wednesday results for the year ended March 31.<\/p>\n
The company will also put on hold commercial development of OLED (organic-light emitting diode) television and focus on the 4K ultra high-definition LCD TVs to bring its TV business back to profitability, the daily said in a separate report.<\/p>\n
Sony said in February it would spin off its TV operations into a separate business and sell its Vaio personal computer division as part of a broad restructuring.<\/p>\n
($1 = 102.1150 Japanese Yen)<\/p>\n
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