Sony Chief Hands Over Reins After Resurgence

"I have been running during the past six years with full force, and as Sony is going into the next stage, I thought it would be best for me and the company that I pass the baton now," Mr. Hirai, 57 years old, said at a news conference. Mr. Yoshida, 58, inherits a company that is making money in all its major areas, from traditional electronics such as televisions to videogame machines, smartphone game software and movies. That is a shift from the beginning of Mr. Hirai's term when the television business, among others, was churning out losses year after year. Even the movie business, which struggled in recent years, is riding a wave thanks to "Jumanji: Welcome to the Jungle," which was No. 1 at the U.S. box office for several weeks. The stock has risen 63% over the last year.