Sony 2000 Annual Report Download - page 2

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CAUTIONARY STATEMENT WITH RESPECT TO FORWARD–LOOKING STATEMENTS
Statements made in this annual report with respect to Sony’s current plans, estimates, strategies and beliefs and other state-
ments that are not historical facts are forward–looking statements about the future performance of Sony. These statements are
based on management’s assumptions and beliefs in light of the information currently available to it and therefore you should not
place undue reliance on them. Sony cautions you that a number of important factors could cause actual results to differ
materially from those discussed in the forward–looking statements. Such factors include, but are not limited to (i) general
economic conditions in Sony’s markets, particularly levels of consumer spending; (ii) exchange rates, particularly between the
yen and the U.S. dollar, euro, and other currencies in which Sony makes significant sales or in which Sony’s assets and liabilities
are denominated; and (iii) Sony’s ability to continue to design and develop and win acceptance of its products and services,
which are offered in highly competitive markets characterized by continual new product introductions, rapid development in
technology (particularly in the Electronics business), and subjective and changing consumer preferences (particularly in the
Game, Music, and Pictures businesses).
Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . 1
To Our Shareholders . . . . . . . . . . . . . . . . . . . . . . . 2
A Tribute to Akio Morita . . . . . . . . . . . . . . . . . . . . . 8
Message From the Chief Executive Officer . . . . . . . . 10
Business Overview. . . . . . . . . . . . . . . . . . . . . . . . . 16
Business Review
Electronics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Music . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Pictures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Topics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Environmental Activities at Sony . . . . . . . . . . . . . . . 36
Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Management’s Discussion and Analysis of
Financial Condition and Results of Operations . . . 39
Quarterly Financial and Stock Information . . . . . . . . 59
Five-Year Summary of Selected Financial Data . . . . . 60
Composition of Sales and Operating Revenue by
Business and Geographic Segment . . . . . . . . . . . 61
Consolidated Balance Sheets . . . . . . . . . . . . . . . . . 62
Consolidated Statements of Income . . . . . . . . . . . . 64
Consolidated Statements of Cash Flows . . . . . . . . . 65
Consolidated Statements of Changes in
Stockholders’ Equity. . . . . . . . . . . . . . . . . . . . . . 66
Notes to Consolidated Financial Statements . . . . . . 68
Report of Independent Accountants . . . . . . . . . . . . 97
Investor Information . . . . . . . . . . . . . . . . . . . . . . . . 98
New Directors, New Statutory Auditors,
and Statutory Auditors . . . . . . . . . . . . . . . . . . . . 99
TABLE OF
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