Sony 2001 Annual Report Download - page 6

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Sony Corporation Annual Report 2001
4
In financial services, Sony Bank Inc. was established in April 2001 and received its banking license from
the Japanese authorities. Operations are expected to begin in June 2001, in the form of services provided to
individuals through the internet.
Structural Reforms in the Electronics Business
On April 1, 2001, two companies, one intended to serve as a platform for product assembly operations and
the other as a platform for the design and manufacture of semiconductors, started operations. The former,
Sony EMCS Corporation, integrates business units including 12 manufacturing subsidiaries related to final
assembly in Japan. The goal is to conduct efficient and competitive design and production activities that are
aligned into a simple and flat organization. The latter, Sony Semiconductor Kyushu Corporation, integrates
three fabrication subsidiaries in Japan that produce key semiconductors for the Sony Group.
In March 1999, we announced plans to reduce the number of manufacturing facilities around the world.
We are pleased to say that this program is on track. The Sony Group had 60 facilities as of March 31, 2001, a
reduction of 10 facilities over the preceding two-year period. We are thus well on the way to achieving our
goal of 55 facilities by March 31, 2003.
CORPORATE STRATEGIES AND INITIATIVES FOR THE NEW FISCAL YEAR
Aggressive Management in the Broadband Era
Now we stand on the threshold of the transition from narrowband networks to broadband networks. This era
demands greater speed. For Sony, this era presents an enormous opportunity to exhibit our inherent
strengths as a supplier of both hardware and content, an attribute that makes us unique as a company. We
are determined to be a leader in the broadband era by pursuing aggressive management.
Making Great Strides in a Knowledge Society
Another area of significant change is the transformation of the existing manufacturing society into a
knowledge society in which wealth is created from knowledge. For companies to increase their competitive-
ness, it is important to hire, retain, and foster knowledge workers. Furthermore, it is important to offer
pleasant working environments where people can make the most of their abilities. For Sony, creating the