SONY CORP. ADRs $16 - New York symbol SNE

SONY CORP. ADRs $16 (New York symbol SNE; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.0 billion; Market cap: $16.0 billion; Price-to-sales ratio: 0.3; Dividend yield: 2.3%; TSINetwork Rating: Average; www.sony.com) has brought in a new restructuring plan that involves selling its money-losing Vaio personal computer business and cutting 3% of its workforce. The company also plans to set up its struggling TV operations as a separate firm, which would make it easier to sell a minority stake in this business.

However, slow sales have forced Sony to write down its remaining computer inventories. Weaker DVD demand has also prompted it to write down the value of its disc-manufacturing operations.

As a result, Sony lost $1.25 billion, or $1.21 per ADR, in the fiscal year ended March 31, 2014 (each American Depositary Receipt represents one common share). In 2013, it earned $458 million, or $0.43 per ADR. Revenue rose 4.2%, to $75.4 billion from $72.3 billion, on stronger smartphone sales and the launch of its PlayStation 4 video game console. However, without the benefit of currency exchange rates, revenue in Japanese yen fell 2%.

Sony is still a hold.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

Value Stocks

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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