Sony Corp. President Ryoji Chubachi expressed confidence Monday the embattled electronics giant can meet its revenue target of more than 8 trillion yen in fiscal 2007 by expanding sales of LCD TVs, DVD recorders and key electronics components.

"I am saying TV, video, digital imaging (digital camera and camcorders) and Walkman," he said in an interview with media organizations when asked to name the products his firm is depending on.

"Anyway, in electronics, flat-screen TVs will no doubt be the No. 1 growth driver," he said, adding that LCD TVs will add hundreds of billions of yen of revenue over the next two years.

In its mid-term business plan announced Thursday, Sony set a target of a 5 percent operating profit margin on sales projected to exceed 8 trillion yen. For the current fiscal year, Sony forecast a 10 billion yen net loss on revenue of 7.25 trillion yen.

As the markets opened Monday for the first time since the announcement, it was clear the plan, which includes cutting 10,000 workers from Sony's workforce, failed to impress investors and analysts. Sony shares skidded 3 percent to close at 3,820 yen.

It "lacked real content in our view, and if the share price has reflected expectations of business portfolio restructuring, our overall impression is negative," Goldman Sachs said in a statement to investors.

Meanwhile, rating agency Moody's Investors Service put Sony on review for a possible downgrade, citing concern about the consumer electronics giant's ability to repeat past profit growth patterns.

While Chubachi did not directly comment on the market's reactions, he stressed that it was the result of Sony's management striking a balance between what it saw as being achievable and what would strongly impact future growth.

Chubachi, who oversees the consumer electronics business, said Sony made two mistakes: failing to foresee the steep drops in flat-screen television prices and the rapid shrinkage of the market for conventional cathode-ray tube televisions.

However, he said a panel-making joint venture with Samsung Electronics Co. of South Korea is allowing Sony to go on the offensive in the large-screen TV market.

"We will squeeze plasma display panel TVs out (of the market) with LCD and rear-projection TVs," he said.

Asked about signs of management discord implied by CEO Howard Stringer in an interview published in the Financial Times' Saturday/Sunday edition -- Chubachi said Stringer's comments mainly were aimed at a Western audience, which demands deep cost-cutting to enhance profitability.

The FT quoted Stringer as saying he would have compiled a more drastic restructuring plan had he not encountered resistance from some of his managers. He was also quoted as describing Japanese society as being "more humanitarian than American society."

"If anything, overseas analysts want to hear more about competition strategy, whereas in Japan, people want to hear about Sony's growth strategy," Chubachi said.

Regarding the format battle over next-generation DVDs, Chubachi repeated Sony's position that it will stick to the Blu-ray format, whatever the costs.

"We are no longer at such a stage," he said when asked whether there was still time to compromise with the high-definition DVD camp led by Toshiba Corp.