Sony: Too big to be fixed

Sony reported a net loss of $1 billion for the fiscal year ended March 31 as sales tumbled 13 percent to $78.9 billion. Meanwhile, Sony sees more red ink ahead and is still mired in a restructuring loop that never seems to end.

Is Sony too big to be fixed?

To wit:

• Sony is still being hurt by PlayStation 3 even though results are slightly improving.

• The company is being squeezed by exchange rates.
• And despite constant restructurings---Sony also said it will close more plants---the outlook still stinks (Techmeme, statement, presentation).

Here's the outlook:

And the never-ending restructuring that never seems to solve Sony's problems:

So much for improvement. 

What's the problem? Sony is simply too large to navigate and is hampered by a bunch of businesses that are struggling. To make thing worse, these businesses don't go together. 

These businesses just don't add up to be a lean, mean Sony machine.

The solution: Breakup of the company. Does Sony need to be in content? Does it really need to manufacture TVs? Is it in businesses that just aren't worth saving? Would a bunch of baby Sonys do better. Those questions are probably being asked, but there's no intention to do anything about it. It's a shame given that the Sony brand is stellar, but the company is the opposite of too big to fail---it's too big to fix.