DOCSLIB.ORG

Sony Corporation – Restructuring Continues, Problems Remain

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

BSTR/361 IBS Center for Management Research Sony Corporation – Restructuring Continues, Problems Remain This case was written by Indu P, under the direction of Vivek Gupta, IBS Center for Management Research. It was compiled from published sources, and is intended to be used as a basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. 2010, IBS Center for Management Research. All rights reserved. To order copies, call +91-08417-236667/68 or write to IBS Center for Management Research (ICMR), IFHE Campus, Donthanapally, Sankarapally Road, Hyderabad 501 504, Andhra Pradesh, India or email: [email protected] www.icmrindia.org BSTR/361 Sony Corporation – Restructuring Continues, Problems Remain “Seven out of eight years, Sony has failed to meet its own initial operating profit forecast. This is probably the worst track record amongst most major exporters. That means that either management is not able to anticipate challenges … or they fail on execution almost every time. Either way, it does not reflect well on Sony’s management.”1 - Atul Goyal, Analyst, CLSA2, in January 2009. SONY IN CRISIS, AGAIN In May 2009, Japan-based multinational conglomerate, Sony Corporation (Sony) announced that it posted its first full year operating loss since 1995, and only its second since 1958, for the fiscal year ending March 2009. Sony announced annual loss of ¥ 98.9 billion3, with annual sales going down by 12.9% to ¥ 7.73 trillion. Sony also warned that with consumers worldwide cutting back on spending in light of the recession, the losses could be to the extent of ¥ 120 billion for the year ending March 2010 (Refer to Exhibit IA for Sony‘s five year financial summary and Exhibit IB for operating loss by business segment). Sony‘s announcement came after the company had announced a major reorganization plan in February 2009. Sony had gone through a series of reorganization programs starting from the year 1994, the aim being to improve the financial performance and competitiveness of the company. However, most of them failed to achieve the desired results. Analysts blamed the silo culture, which prevented different divisions in Sony from communicating and cooperating with each other, for the company‘s problems. Howard Stringer4 (Stringer) became the first non-Japanese CEO of Sony in March 2005 and he announced a major reorganization in September 2005. The reorganization focused on revitalizing the electronics business of the company and on improving profits by reducing business categories and product models. It also aimed at removing redundancies and overlaps in business processes by focusing resources only on the company‘s high growth business like HD products, mobile products, semiconductor/key component devices, and network-enabled products and appliances. The plan addressed the silo culture in the organization by introducing the slogan ‗Sony United‘, and outlining several measures that could be implemented to unite the company and enhance cross-company collaboration. The plan started showing encouraging results and for the year ending March 2007, Sony‘s sales and operating revenue increased by 10.5% to ¥ 8.29 trillion as compared to March 2006. The trend continued over the next year and for the fiscal year 2008, sales and operating revenue grew by 6.9% over the previous year to ¥ 8.9 trillion. The company recorded an operating income of ¥ 374.5 billion in fiscal 2008 as compared to ¥ 71.8 billion in fiscal 2007. 1 Tina Wang, ―Earnings Collapse Looming for Sony,‖ www.forbes.com, January 13, 2009. 2 Headquartered in Hong Kong, CLSA is a leading equity broker in the Asia-Pacific markets. The services provided by CLSA include broking, investment banking, and asset management. 3 1 US$ ≈ ¥ 93.25 as of August 31, 2009. 4 Stringer was Head of Sony‘s North American business and was known for drastic cost cutting measures. 1 Sony Corporation – Restructuring Continues, Problems Remain However, by late 2008, Sony had reduced its earnings forecast and in December 2008, it announced that it could end the financial year in a loss. Another reorganization plan was announced in February 2009, which involved a new organization structure, the closure of eight of its total 57 manufacturing sites, and a reduction of the workforce by 16,000. The reorganization also witnessed Stringer assuming more powers as the President of Sony and his predecessor, Royji Chubachi (Chubachi), who was also heading the electronics division, being made Vice-Chairman. Through the new reorganization plan, Sony expected to reduce costs by US$ 2.5 billion. On the reorganization, Stringer said, ―This reorganization is designed to transform Sony into a more innovative, integrated, and agile global company. (These changes and reorganization) will now make it possible for all of Sony‘s parts to work together.‖5 Analysts were satisfied with the changes proposed in the new reorganization plan. Hitoshi Kuriyama, analyst at Merrill Lynch & Company,6 commented, ―These moves are bolder than we had anticipated and are positive. We believe the new management and organization will be effective in bringing out Sony‘s potential in this new networked age.‖7 However, some analysts remained skeptical about the proposed benefits of the plan. According to Koya Tabata from Credit Suisse8, ―We remain unsure about whether consolidating control into the hands of Chairman Howard Stringer will change the business model significantly and fundamentally strengthen Sony‘s operations.‖9 BACKGROUND NOTE Sony was founded in 1946 as Tokyo Tsuchin Kyogo by Masaru Ibuka and Akio Morita (Morita)10 in war-ravaged Japan. Initially, the company had 20 employees and a capital of ¥ 190,000. Right from its inception, Sony focused on product innovation and on offering high quality products. Sony started off manufacturing telecommunications and measuring equipment and went on to manufacture transistor radios and tape recorders. The company decided to call itself Sony, as Morita felt that the name was in accordance with its global expansion plans. Sony set up a subsidiary in the US in 1960 and was listed on the New York stock exchange in 1970. In 1972, it set up manufacturing facilities in the US, thereby becoming the first Japanese company to do so. Sony‘s products were always innovative. The company firmly believed that there was a huge demand for such products and did not attach much importance to market research. However, it suffered a major setback in 1975 on account of its Betamax video cassette which was to be used in its home video cassette recorder. Before the Betamax technology could establish itself in the market, it lost out to VHS, which was backed by top studios in Hollywood. This incident served as an eye-opener for Sony. It realized that technology used in such products was largely determined by the owners of content and this led to its entering the content development business. In 1988, the 5 ―Howard Stringer Gets President Title, Aims to Save $3.1 Billion over the Coming Fiscal Year,‖ www.sony.net, February 27, 2009. 6 Merrill Lynch & Company is a financial services firm known as Bank of America Merrill Lynch after its acquisition by Bank of America in 2008. Merrill Lynch is involved in businesses like wealth and investment management. 7 Hiroshi Suzuki, Masaki Kondo, ―Sony‘s CEO Stringer Ousts Chubachi in Overhaul of Management,‖ www.bloomberg.com, February 27, 2009. 8 Credit Suisse is a Switzerland-based financial company. It recorded net revenue of CHF 9.268 billion and loss of CHF 8.22 billion for the year 2008. 9 ―Sony Shares up after Stringer Takes Control,‖ www.execdigital.co.uk, March 02, 2009. 10 Akio Morita was a graduate in physics, while Masaru Ibuka had a degree in electronic engineering. When Morita joined the Japanese navy as a Lieutenant, he met Ibuka at the navy‘s Wartime Research Committee. They became friends and planned to float a company. 2 Sony Corporation – Restructuring Continues, Problems Remain company acquired CBS Records and renamed itas Sony Music Entertainment. In 1989, it acquired Columbia Pictures (which included Tristar) and renamed it as Sony Pictures (Refer to Table I for details of Sony‘s Businesses). In 1968, Sony introduced the Trinitron Color TV, which was highly successful. Another highly successful product was the Walkman launched in 1979. Other path-breaking products that it introduced included the world‘s first Compact Disc player (1982), the Camcorder (1982), the Discman portable CD player (1984), PlayStation (1994), and the Digital Handycam (1995). Sony introduced several other products like home electronic equipment and 3.5 inch floppy discs. Till 1983, Sony operated as a function-specific organization with different departments for development, manufacturing, sales etc. However, with the number of products and people increasing, Sony introduced the business group system in 1983 and defined the roles of headquarters and each business group. Table I Sony’s Businesses (2008) Electronics Audio, video, televisions, information and communications equipment, Segment semiconductor components and other products. Game Segment Games console and software businesses conducted by Sony Computer Entertainment Inc. Music Segment Businesses of Sony Music Entertainment (Japan) Inc. Pictures Segment Motion Pictures, and television programming distributed by Sony Pictures Entertainment Inc. Financial Sony Financial Holdings Inc., and its subsidiaries Sony Life Insurance Services Company Limited., Sony Assurance Inc., Sony Bank Inc., and Sony Finance International Inc. Others The music recording business of Sony Music Entertainment, and Sony Music Entertainment (Japan) Inc., and network services related business of So-net Entertainment Corporation. Source: www.sony.net. THE RESTRUCTURING EFFORTS In the early 1990s, in spite of a moderate increase in Sony‘s operating revenues, its operating and net income witnessed a decline. After the electronics business was restructured in 1994 under the then CEO Norio Ohga, the company‘s performance deteriorated further and Sony reported a loss of ¥ 293.36 billion in 1995.
Recommended publications
  • Sony Kabushiki Kaisha

    Sony Kabushiki Kaisha

    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F n REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ¥ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2010 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from/to or n SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: Commission file number 1-6439 Sony Kabushiki Kaisha (Exact Name of Registrant as specified in its charter) SONY CORPORATION (Translation of Registrant’s name into English) Japan (Jurisdiction of incorporation or organization) 7-1, KONAN 1-CHOME, MINATO-KU, TOKYO 108-0075 JAPAN (Address of principal executive offices) Samuel Levenson, Senior Vice President, Investor Relations Sony Corporation of America 550 Madison Avenue New York, NY 10022 Telephone: 212-833-6722, Facsimile: 212-833-6938 (Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares* New York Stock Exchange Common Stock** New York Stock Exchange * American Depositary Shares evidenced by American Depositary Receipts. Each American Depositary Share represents one share of Common Stock. ** No par value per share. Not for trading, but only in connection with the listing of American Depositary Shares pursuant to the requirements of the New York Stock Exchange.
  • Robotic Pets in the Lives of Preschool Children

    Robotic Pets in the Lives of Preschool Children

    Robotic pets in the lives of preschool children Peter H. Kahn, Jr., Batya Friedman, Deanne R. Pérez-Granados and Nathan G. Freier University of Washington / Stanford University / University of Washington This study examined preschool children’s reasoning about and behavioral interactions with one of the most advanced robotic pets currently on the retail market, Sony’s robotic dog AIBO. Eighty children, equally divided between two age groups, 34–50 months and 58–74 months, participated in individual sessions with two artifacts: AIBO and a stuffed dog. Evaluation and justification results showed similarities in children’s reasoning across artifacts. In contrast, children engaged more often in apprehensive behavior and attempts at reciprocity with AIBO, and more often mistreated the stuffed dog and endowed it with animation. Discussion focuses on how robotic pets, as representative of an emerging technological genre, may be (a) blurring foundational ontological categories, and (b) impacting children’s social and moral development. Keywords: AIBO, children, human–computer interaction, human–robot interaction, moral development, social development, Value Sensitive Design Animals have long been an important part of children’s lives, offering comfort and companionship, and promoting the development of moral reciprocity and responsibility (Beck & Katcher, 1996; Kahn, 1999; Melson, 2001). Yet in recent years there has been a movement to create robotic pets that mimic aspects of their biological counterparts. In turn, researchers have begun to ask important questions. Can robotic pets, compared to biological pets, provide children with similar developmental outcomes (Druin & Hendler, 2000; Pérez-Granados, 2002; Turkle, 2000)? How do children conceive of this genre of robots? It is a genre that some researchers have begun to refer to as “social robots” (Bartneck & Forlizzi, 2004; Breazeal, 2003): robots that, to varying degrees, have some constellation of being personified, embodied, adaptive, and autonomous; and Interaction Studies 7:3 (2006), 405–436.
  • Robotic Pets in Human Lives: Implications for the Human–Animal Bond and for Human Relationships with Personified Technologies ∗ Gail F

    Robotic Pets in Human Lives: Implications for the Human–Animal Bond and for Human Relationships with Personified Technologies ∗ Gail F

    Journal of Social Issues, Vol. 65, No. 3, 2009, pp. 545--567 Robotic Pets in Human Lives: Implications for the Human–Animal Bond and for Human Relationships with Personified Technologies ∗ Gail F. Melson Purdue University Peter H. Kahn, Jr. University of Washington Alan Beck Purdue University Batya Friedman University of Washington Robotic “pets” are being marketed as social companions and are used in the emerging field of robot-assisted activities, including robot-assisted therapy (RAA). However,the limits to and potential of robotic analogues of living animals as social and therapeutic partners remain unclear. Do children and adults view robotic pets as “animal-like,” “machine-like,” or some combination of both? How do social behaviors differ toward a robotic versus living dog? To address these issues, we synthesized data from three studies of the robotic dog AIBO: (1) a content analysis of 6,438 Internet postings by 182 adult AIBO owners; (2) observations ∗ Correspondence concerning this article should be addressed to Gail F. Melson, Depart- ment of CDFS, 101 Gates Road, Purdue University, West Lafayette, IN 47907-20202 [e-mail: [email protected]]. We thank Brian Gill for assistance with statistical analyses. We also thank the following individuals (in alphabetical order) for assistance with data collection, transcript preparation, and coding: Jocelyne Albert, Nathan Freier, Erik Garrett, Oana Georgescu, Brian Gilbert, Jennifer Hagman, Migume Inoue, and Trace Roberts. This material is based on work supported by the National Science Foundation under Grant No. IIS-0102558 and IIS-0325035. Any opinions, findings, and conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of the National Science Foundation.
  • Exective Appointments

    Exective Appointments

    Sony Corporation News & Information 1-7-1 Konan, Minato-ku, Tokyo No. 20 -040E May 19, 2020 Sony Corporation Executive Appointments Tokyo, Japan – As announced in the press release "Announcement of New Sony Group Organizational Structure" issued today, in conjunction with the launch of “Sony Group Corporation” on April 1, 2021, Sony will establish a new executive structure optimized for Group-wide management. In view of this transition, Sony Corporation’s executive structure will be partially reformed as of 1st June 2020. The positions of executives with responsibility for business management and those with responsibility for headquarters functions will be separated, and chief executives in charge of core Sony Group companies will be appointed "Senior Executive Vice President." In addition, the positions of Corporate Executive Officers will be reviewed in order to clarify their responsibility to stakeholders. ＜Executive Appointments＞ (as of June 1, 2020) [ Executives of equal rank are listed in order of appointment / changes to titles or areas of responsibility are underlined ] Kenichiro Yoshida Chairman, President and Chief Executive Officer Representative Corporate Executive Officer Hiroki Totoki Executive Deputy President and Chief Financial Officer Representative Corporate Executive Officer Shigeki Ishizuka Vice Chairman*1 Representative Corporate Executive Officer Officer in charge of Electronics Products & Solutions Business Officer in charge of Storage Media Business Representative Director, President and CEO, Sony Electronics Corporation Representative Director and President, Sony Imaging Products & Solutions Inc. Toru Katsumoto Executive Deputy President Corporate Executive Officer Officer in charge of R&D Officer in charge of Medical Business President, R&D Center Representative Director and Deputy President, Sony Imaging Products & Solutions Inc.
  • Credit Services for the Osaifu-Keitai Mobile Payment System on Open OS Terminals

    Credit Services for the Osaifu-Keitai Mobile Payment System on Open OS Terminals

    Smartphones Contactless IC Cards Credit Cards Credit Services for the Osaifu-Keitai Mobile Payment System on Open OS Terminals †0 Smartphones have grown in popularity and their OSs have Credit Card Business Division Nobuyuki Miura been published as open-source. Although open-source soft - Jin Hoshino†0 †0 ware is useful, it is at risk of being attacked based on the dis - Services Platform Department Jin-ichi Hirose covery of vulnerabilities by techniques such as reverse engi - Takashi Fukuzono†† neering. To run credit services based on our Osaifu-Keitai mobile payment system on an open-source OS terminal, a different architecture from that of conventional feature phones must be used. We have therefore developed a credit service for open OS terminals that mitigates the impact asso - ciating with revisions of existing systems while maintaining the security level achieved by feature phones. secure on terminals with this sort of 2. Architecture of Feature 1. Introduction open-source OS than on conventional Phones and Open OS Smartphones have grown in popu- feature phones (conventional i-mode Terminals larity and some of them now use OSs terminals in this case). Also, when The most important function for the that have been published as open- adapting an existing system built for implementation of credit services in source*1. Although the publication of an feature phones so that it can run on this Osaifu-Keitai is the function for secure- OS as open source software helps it to sort of new architecture, it is essential to ly writing credit card information to the become more mature and more widely consider how to mitigate the impact of contactless IC chip *3 (FeliCa®*4 chip) in used and encourages the development system revisions and reduce the costs Osaifu-Keitai.
  • Sony Corporation

    Sony Corporation

    SONY CORPORATION GRIFFIN CONSULTING GROUP Hao Tang Rahul Misra Ellie Shanholt April 2012 CONTENTS Executive Summary ..................................................................................................................... 3 Company Overview and History .............................................................................................. 4 Financial Analysis ........................................................................................................................ 6 Liquidity .................................................................................................................................... 6 Profitability ............................................................................................................................... 7 Operating Efficiency ................................................................................................................ 9 Stock Performance ................................................................................................................... 9 Segments and Locations ........................................................................................................ 12 Competitive Analysis ................................................................................................................ 14 Internal Rivalry: ..................................................................................................................... 14 Entry ........................................................................................................................................
  • Autonomous AIBO Watchman

    Autonomous AIBO Watchman

    Autonomous AIBO watchman TDT4735 Software Engineering, Depth Study Ingeborg Strand Friisk November 28, 2003 Norwegian University of Technology and Science, NTNU Department of Computer and Information Science, IDI Supervisor: Tor St˚alhane Co-supervisor: Siv Hilde Houmb 2 Abstract As society has gradually moved towards an extensive use of computers and automatized sup- port, both in everyday life and in work environments, the role and feasibility of autonomous robots has grown in importance. The concept of smart homes, with several computer-based systems making everyday life easier is presently an active research and development subject, i.e. at Telenor [27]. Another aspect is the inclusion of electronics and robotics for fun and enter- tainment in homes such as PC and TV-games and the robot entertainment dog, AIBO. AIBO walks on four legs and commercial software makes it act like a small pet, that walks around, sings songs or chooses to do nothing. AIBO owners also has the opportunity to program it to do other and maybe more useful things. This report presents the possibility of automating watchman activities using simple and small robots such as AIBOs. We demonstrate through design analysis and implementation how AIBO can be used as a watchman to keep areas under surveillance. The main focus in this study is safety, with risk analysis and some implementation as natural parts of the study to better comprehend the concept of software safety in critical systems. A simplified version of the safety lifecycle of IEC 61508 has been applied. For a structured Preliminary Hazard Analysis HazOp has been applied.
  • Technology, Media & Telecommunications Predictions 2015

    Technology, Media & Telecommunications Predictions 2015

    Technology, Media & Telecommunications Predictions 2015 Southeast Asia Edition Contents Foreword 3 Technology 5 The Internet of Things really is things, not people 6 Drones: high-profile and niche 10 3D printing is a revolution: just not the revolution you think 14 Click and collect booms in Europe 17 Smartphone batteries: better but no breakthrough 20 Nanosats take off, but they don’t take over 25 The re-enterprization of IT 28 Media 33 Short form video: a future, but not the future, of television 34 The ‘generation that won’t spend’ is spending a lot on media content 37 Print is alive and well – at least for books 41 Telecommunications 44 One billion smartphone upgrades 45 The connectivity chasms deepen: the growing gap in broadband speeds 51 Contactless mobile payments (finally) gain momentum 56 Endnotes 60 Recent Deloitte thought leadership 76 Contacts at Deloitte Touche Tohmatsu Limited (DTTL) and its member firms 77 Foreword Welcome to the 2015 edition of Deloitte’s predictions for the technology, media and telecommunications (TMT) sectors. Our objective with this report is to analyze the key market developments over the next 12-18 months. Our points of view are built around hundreds of meetings with industry executives and commentators from around the world, as well as our proprietary programs of research with tens of thousands of consumers worldwide. Our endeavor is to provide a considered point of view on key industry trends. In some cases we seek to identify the drivers behind major inflection points and milestones, such as the first billion-unit year for the smartphone sector, or the take-off of contactless mobile payments.
  • UTAC Appointed As an Official Partner of Sony to Produce and Deliver Modules Embedded with Sony’S Felica IC

    UTAC Appointed As an Official Partner of Sony to Produce and Deliver Modules Embedded with Sony’S Felica IC

    Media Release UTAC appointed as an official partner of Sony to produce and deliver modules embedded with Sony’s FeliCa IC Singapore, 19 December 2018 – UTAC Holdings Ltd (“UTAC”), a global semiconductor test and assembly services provider based in Singapore announced today that it was appointed as an official partner of Sony Imaging Products & Solutions Inc. (“Sony”) to manufacture FeliCa1 IC module products. After module verification on testing, Sony released an acknowledgement letter that UTAC was its official partner to produce module products embedding Sony’s RC-SA01 IC chip in accordance with the FeliCa and IC chip inspection guidelines set by FeliCa Business Division. The FeliCa module products embedding Sony’s RC-SA01 IC chip are essential parts in smart card applications such as transport ticketing and payment. Sony’s FeliCa modules are currently used in various applications globally, for instance, electronic / mobile payment and transport ticketing in Japan and Hong Kong, and transport ticketing in Indonesia. Dr John Nelson, President and Chief Executive Officer, UTAC said, “We provide our customers with a complete suite of high quality engineering services including package design, smart card module assembly and high-volume manufacturing. We are honoured to be officially Sony’s FeliCa IC Module Manufacturer and look forward to supporting its needs in the future.” -END- For media enquiries, please contact: Carol Chiang Senior Manager, Marketing E: [email protected] Tel: (65) 6714 2220 1 FeliCa is a contactless IC card technology developed by Sony Corporation. FeliCa system supports the entire life cycle of IC cards including application development, card issuance, personalisation, and daily operation.
  • 80 the MARKET Sony Corporation Is a Leading

    80 the MARKET Sony Corporation Is a Leading

    THE MARKET a very small group of young peo- Sony Corporation is a leading man- ple with the energy and passion for ufacturer of audio, video, communi- unlimited creation. cations, and information technology This passion and creativity products for the consumer and pro- eventually led to the development of fessional markets. Additionally, the Sony’s Trinitron TV in 1968, which company’s music, motion picture, set the world standard for high television-production, game, and quality in home theater products. online businesses make Sony one of As a proponent of global oper- the most comprehensive entertain- ations based on a local presence, ment companies in the world. Morita set up manufacturing plants all over the world. Its Trinitron® ACHIEVEMENTS color television assembly plant Today, Sony employs almost 170,000 in San Diego, California, built in people worldwide, with almost 1972, was the first consumer elec- 22,000 working in the United States. tronics manufacturing facility built For fiscal year 2001, Sony Corpor- in the United States by a Japanese- ation had total sales of more than based company. $56.9 billion, with the electronics Morita’s deep confidence in segment making up more than two- another legendary Sony product, thirds of the revenues. the Walkman personal stereo, was Sony Electronics Inc. (SEL), the key factor in its ultimate formerly known as Sony Corpor- success. While retailers were ation of America, was established in initially resistant, the Walkman 1960 to oversee Sony’s sales and stereo’s compact size and excel- marketing activities in the United lent sound quality attracted con- States.
  • Form 20-F for the Fiscal Year Ended March 31, 2017

    Form 20-F for the Fiscal Year Ended March 31, 2017

    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or Í ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2017 or ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from/to or ‘ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: Commission file number 1-6439 Sony Kabushiki Kaisha (Exact Name of Registrant as specified in its charter) SONY CORPORATION (Translation of Registrant’s name into English) Japan (Jurisdiction of incorporation or organization) 7-1, KONAN 1-CHOME, MINATO-KU, TOKYO 108-0075 JAPAN (Address of principal executive offices) J. Justin Hill, Senior Vice President, Investor Relations Sony Corporation of America 25 Madison Avenue, 26th Floor New York, NY 10010-8601 Telephone: 212-833-6722 E-mail: [email protected] (Name, Telephone, E-mail and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares* New York Stock Exchange Common Stock** New York Stock Exchange * American Depositary Shares evidenced by American Depositary Receipts. Each American Depositary Share represents one share of Common Stock. ** No par value per share. Not for trading, but only in connection with the listing of American Depositary Shares pursuant to the requirements of the New York Stock Exchange.
  • Annual Report 1990

    Annual Report 1990

    ' ~ • ::·~ ii ~:· J" ~ ~~~-:.,.. • •• • -;) ..... ~· 7 (3,,. '~.:.(_.,~:_-.:~·.::g. :... · ony Cor.~oratio. ri is on~ Of .· the world's le~ing ..~ .: .. ~.. .. manufacturers -of aud1o and v1deo .eqUlp- ,"':_. !<' • •· • .meat, televisions, displays, -semiconduct?rs, _com·puter.s,:'·and such informatipn.. related pr.pdt,:Jcts "' . .as micro flo:ppyaisk systems. Ke--en-1¥: aware 0f the interrelated Aature of ~software and hardware, Sony is also bolstering ,its p.resence in the audio and image-bas.ed software mar~~_ts through the ~BS Records group and the n~wly acquired ·~ Columbia Pktur~s Entertqinment, ·lnc. A strong co.mmltment te research Cilnd d€velopment has helped the {om.pany build a war.ldwide reputati<m as a pacesetter in the efectronic equipment industty. Havlng also garnered recognition as one . ' .~ . ; of Japan's rno~t intetnatjonal corpor:aUons by manufaetutfng fn the market~ - where its products. are sold! Son¥ is ~wrrently strengt!olening globaf systems fQt;, ·corp0rate fwncbie>rrs, fr:'otn 'ot~er- . management to R&D. ~ (:· r;., ~· ~· ... -; ~ ~. ': ,~~:!:~·~:. :r-r:i ··i ' ~. ~ Consolidated .Statements of Cash Flows Notes to Consolidated financial Statements Report of Jndepen:de.nt Accountants SONY CORPORI\TION 1\ND CONSOLIDATED SUBSIDII\RIES FINANCIAL HIGHLIGHTS Year ended March 31 OP~RATING R~SULTS Thousands of Millions of yen U.S. dollars except except per share amounts per share amounts Percent change 1989 1990 1990/1989 1990 FOR THE YEAR Net sales ¥2,145,329 ¥2,879,856 +34.2% $18,343,032 Operating income 160,499 295,191 +83.9 1,880,197 Net income 72,469 102,808 +41.9 654,828 Per Depositary Share: Net income ¥ 241.7 ¥ 306.9 +27.0 $ 1.95 Cash dividends 44.6 50.0 0.32 AT YEAR-END Stockholders' equity ¥ 911,816 ¥1,430,058 +56.8 $ 9,108,650 Total assets 2,364,775 4,370,085 +84.8 27,834,936 Number of employees 78,900 95,600 Note: U.S.