The man credited with turning around the fortunes of consumer electronics and media giant Sony is stepping down after six years at the helm.
When Kazuo Hirai, 57, took over as chief executive in 2012, Sony hadn’t made a profit in four years and was losing money hand over fist.
He cut 10,000 jobs and streamlined loss-making divisions, while launching the innovative new virtual reality PlayStationVR.
Sony’s profits rose four-fold in final quarter of December 2017 to a record ¥351bn (£2.5bn), compared with ¥92.4bn in Q4 2016.
“I have dedicated myself to transforming the company and enhancing its profitability,” Hirai said in a statement. “And it excites me to hear more and more people enthuse that Sony is back again.”
Hirai is staying on as chairman, and will be replaced by finance chief Kenichiro Yoshida as CEO.