On January 30, 2020, Third Point announced that it called on Sony Corp. to keep divesting non-core assets and said it opposes the Securities and Exchange Commission’s proposed rule on proxy advisors. Third Point stated that it has praised the Company for last year’s strong returns but said it needs to take a hard look at its portfolio, from which it has divested only Olympus. Third Point expressed its views that the Company has avoided the topic of portfolio optimization, but that the company’s media and semiconductors franchises can stand alone and create more value independently than together,’ the firm wrote in a letter to its investors.