Sony 2002 Annual Report Download - page 7

Download and view the complete annual report

Please find page 7 of the 2002 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 84

  • 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

5
Message from Top Management
In this section, five executives and members of the Board of Directors of Sony discuss
Sony’s broadband network strategy. Discussion participants were Nobuyuki Idei, Chair-
man and CEO, Kunitake Ando, President and COO, Teruhisa Tokunaka, Executive Deputy
President and CFO, Ken Kutaragi, President and CEO of Sony Computer Entertainment
Inc., and Howard Stringer, Chairman and CEO of Sony Corporation of America.
Reflecting Back on the Fiscal Year Ended March 31, 2002
Question: What did Sony do in Fiscal Year 2001 (the year ended March 31, 2002)?
Idei CEO Fiscal Year 2001 was tumultuous. In the first half, we witnessed an
abrupt slowdown in the telecommunications and IT industries in the
U.S. Under such circumstances, component and semiconductor
manufacturers worldwide were negatively affected. This influence
worsened at a time when it was apparent that we were in a global
recession and economies were dealt a further blow by the events of
September 11.
Confronted by these circumstances, we implemented restructuring
initiatives. We targeted not only our Electronics business, but also the
Music and Pictures businesses in an effort to enhance our management
structure. Especially after September 11, the Group reached a consen-
sus to accelerate restructuring activities, and we were able to take
decisive action.
Furthermore, we took steps to deal with issues raised by analysts
and shareholders such as Aiwa Corporation’s large losses, losses from
our mobile phone business, justification for investment in semicon-
ductors, and negative cash flow.
Question: Would you explain why you joined forces with Ericsson in Fiscal Year 2001 to create a new
framework for Sony’s mobile phone business?
Ando COO We have always viewed mobile phones as an integral element of Sony’s
network strategy. In order to catch up, we pooled resources with a
Message from Top Management
URL: http://www.sony.co.jp/en/SonyInfo/IR/corp/mm/