Sony 2001 Annual Report Download - page 5

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Sony Corporation Annual Report 2001
3
was chiefly a reflection of start-up expenses for the PlayStation 2 format. As a result, consolidated operating
income increased only 1% compared with the previous year. However, excluding the impact of the stronger
yen, on a local currency basis consolidated operating income increased 47%.
PROGRESS REPORT ON CORPORATE STRATEGIES
Accelerating Corporate Reform – Phase 2
The fiscal year ended March 31, 2001 was positioned as the second phase of Sony’s corporate reform
initiatives. We enacted a number of reforms in April 2000 with regard to our management team, manage-
ment architecture, and Electronics business. The new management team concentrated on implementing the
Sony Group’s network strategies. At the same time, we made efforts to expedite the process of giving our
business units greater autonomy, thereby making them more independent and self-reliant.
Network Businesses
We set in motion a number of network businesses during the year. Selling products and services directly to
customers is just one facet of these businesses. Our central goal is to establish direct channels of communi-
cation with customers by using the interactivity of the internet. This will allow us to add still more value to
our products, services, and content.
KUNITAKE ANDO
President
and Chief Operating Officer
NOBUYUKI IDEI
Chairman
and Chief Executive Officer