Sony's top executives to return bonuses

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Sony's top executives to return bonuses
FILE - In this Thursday, Feb. 6, 2014 file photo, Sony Corp. President and CEO Kazuo Hirai reacts during a press conference at the Sony headquarters in Tokyo when Sony announced it was selling its Vaio personal computer operations and also cutting its global workforce by about 3 percent or 5,000 people by the end of March 2015. PlayStation stands out among the long list of famous Sony brands as one that hasn’t faded or succumbed to a nimbler competitor. Months after hitting global markets, the latest version of the video-game console is going on sale at midnight in Tokyo, a big shift from times when Sony was ascendant enough to launch flagship products in Japan first. (AP Photo/Shizuo Kambayashi, File)
Sony Corp. President and CEO Kazuo Hirai speaks during a press conference at the Sony headquarters in Tokyo Thursday, Feb. 6, 2014. Sony is in talks to sell its troubled personal computer business and Thursday lowered its earnings forecast for the business year ending March to a 110 billion yen loss ($1.1 million).The company also said it's cutting its global workforce by about 3 percent or 5,000 people by the end of March 2015 as it restructures its PC, television and other businesses. (AP Photo/Shizuo Kambayashi)
Sony Corp. President and CEO Kazuo Hirai, center, speaks during a press conference at the Sony headquarters in Tokyo, Thursday, Feb. 6, 2014. Sony is in talks to sell its troubled personal computer business and Thursday lowered its earnings forecast for the business year ending March to a 110 billion yen loss ($1.1 million).The company also said it's cutting its global workforce by about 3 percent or 5,000 people by the end of March 2015 as it restructures its PC, television and other businesses. (AP Photo/Shizuo Kambayashi)
Sony Corporation president and CEO Kazuo Hirai speaks during a keynote address at the International Consumer Electronics Show, Tuesday, Jan. 7, 2014, in Las Vegas. (AP Photo/Julie Jacobson)
Visitors walk past a Sony's stand at the Mobile World Congress, the world's largest mobile phone trade show in Barcelona, Spain, Tuesday, Feb. 25, 2014. Expected highlights include major product launches from Samsung and other phone makers, along with a keynote address by Facebook founder and chief executive Mark Zuckerberg. (AP Photo/Manu Fernandez)
President and CEO of Sony Mobile Communications Kunimasa Suzuki presents the Smartband device during the Mobile World Congress, the world's largest mobile phone trade show in Barcelona, Spain, Monday, Feb. 24, 2014. Expected highlights include major product launches from Samsung and other phone makers, along with a keynote address by Facebook founder and chief executive Mark Zuckerberg. (AP Photo/Manu Fernandez)
President and CEO of Sony Mobile Communications Kunimasa Suzuki presents the Xperia Z2 tablet during the Mobile World Congress, the world's largest mobile phone trade show in Barcelona, Spain, Monday, Feb. 24, 2014. Expected highlights include major product launches from Samsung and other phone makers, along with a keynote address by Facebook founder and chief executive Mark Zuckerberg. (AP Photo/Manu Fernandez)
A visitor tests the Sony SmartWatch 2 during the 2014 Mobile World Congress in Barcelona on February 25, 2014 The Mobile World Congress runs from the 24 to 27 February where participants and visitors alike can attend conferences, network, discover cutting-edge products and technologies at among the 1,700 exhibitors as well as seek industry opportunities and make deals. AFP PHOTO/LLUIS GENE (Photo credit should read LLUIS GENE/AFP/Getty Images)
Attendees try out a range of Sony headphones at the Sony Corp. pavilion on the opening day of the Mobile World Congress in Barcelona, Spain, on Monday, Feb. 24, 2014. Top telecommunication managers will rub shoulders in Barcelona this week at the Mobile World Congress, Monday, Feb. 24 - 27, a traditional venue for showcasing the latest products for dealmaking. Photographer: Simon Dawson/Bloomberg via Getty Images
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(Reuters) - Sony Corp's top executives will return their annual bonuses as the company's electronics business struggles with losses, the Nikkei reported.

About 40 executives involved with the electronics and headquarters operations will give up amounts equivalent to 30-35 percent of their annual pay as proposed by Chief Executive Kazuo Hirai, the daily said.

The bonuses to be handed back could reach as much as 1 billion yen ($9.8 million), the Nikkei reported.

Sony will report on Wednesday results for the year ended March 31.

The company will also put on hold commercial development of OLED (organic-light emitting diode) television and focus on the 4K ultra high-definition LCD TVs to bring its TV business back to profitability, the daily said in a separate report.

Sony said in February it would spin off its TV operations into a separate business and sell its Vaio personal computer division as part of a broad restructuring.

($1 = 102.1150 Japanese Yen)

(Reporting by Mridhula Raghavan in Bangalore; Editing by Sriraj Kalluvila)

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