Sony 2001 Annual Report Download - page 4

Download and view the complete annual report

Please find page 4 of the 2001 Sony annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

Sony Corporation Annual Report 2001
2
About one year has elapsed since Sony entered a new stage of development, one that seeks to target
opportunities in the upcoming era of broadband networks. A new top-management team made up of CEO
Nobuyuki Idei, COO Kunitake Ando, and CFO Teruhisa Tokunaka was formed to take the lead in this important
effort. During the year ended March 31, 2001, results in the Electronics business improved dramatically, and
we made steady progress in preparing for a broadband future where significant growth is expected for
network businesses. Regarding the PlayStation 2 business, although we were not satisfied with profitability,
production shipments of the console increased.
REVIEW OF THE PAST YEAR
The global economy was generally strong during the first half of the fiscal year. However, the U.S. economy
began to slow in the second half of the year due to a rapid slowdown in growth of consumer spending and
other economic factors. As the fiscal year drew to a close, economies in Japan, Asia, Europe, and elsewhere
showed increasing signs of weakness.
Even amid these worsening market conditions, Sony was able to achieve a 9% increase in consolidated
net sales for the year. On a local currency basis, sales rose 12%. A large increase in sales of electronics
products was the primary reason. Regarding earnings, the Electronics business performed very well, prima-
rily due to the performance of digital products and semiconductors. The Game business posted a loss, which
TO OUR SHAREHOLDERS