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technology giant Sony announced its first ever buy back of shares Friday worth more than nine hundred million dollars the move gave Sony share price a welcome bump and came after the company posted lower than expected profits last week from its PlayStation division pushing Sony's share price down to its lowest in more than a year the buyback is a move by C. E. O. can insure your shita who took the helm last April with the name to boost shareholder returns but as Reuters breaking views calling miss robin mac explains Sony's blockbuster buyback might just be the beginning of a long journey to a stronger share price Sony survive back it is a good first step but ultimately it's not enough in the short term the buyback can help lift up the share price and so the stock was up five percent already on the day of the news %HESITATION but in the long term if you're she doesn't want to unlock value and close the valuation discount %HESITATION then a wider overhaul of the entire company needed besides video games music and movies Sony also makes us semi conductors and smartphones so one step could be to sell off it's a loss making smartphone business which has been a bit of a financial drag on the entire company another would be to spin off the semiconductor unit as well until a few years ago Sony struggled with losses in its electronics business to its Asian rivals since then the company has reinvented itself gaining revenue from music and gaming Sony's record share buyback sends a pretty powerful message to investors so even though the company's core video games business is slowing of financially speaking Sony is in %HESITATION you know better health than it's ever been in recent years saw operating cash flows have improved a lot %HESITATION and it's sitting on you know almost four billion dollars of net cash on its balance sheet the announcement marks Japan's second major by back this week after tech giant softbank said , they would re purchase up to almost five point five billion dollars worth of shares