Sony 2003 Annual Report Download - page 6
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Sony Corporation Annual Report 20034
Looking Towards the Future
Sony plans to continue inspiring our customers with dreams and impressions in
the broadband era through the convergence of electronics and entertainment.
However, with the environment in which Sony operates changing at a pace
beyond our expectations, we believe it is necessary to transform Sony into an
organization in step w ith the 21st Century through a series of new reforms that
build on those undertaken so far, but are not merely linear extensions of them.
In order to do so, as a second phase of restructuring building on the first
phase begun in the fiscal year ended M arch 31, 2000, over the three years
starting in the fiscal year ending M arch 31, 2004, w e will reduce fixed costs by
further concentrating managerial resources into strategic businesses, reorganiz-
ing our global production structure and improving the productivity of back
office support functions. Furthermore, to accelerate growth in our Electronics
and Game segments, we are planning to invest in semiconductors, which hold
the key to differentiation of our products, introduce products that integrate
Electronics and Game technologies and invest in mid- to long-term technology
development so as to strengthen the attractiveness of our products.
In addition, as a part of the reorganization of our group operating structure,
after voluntarily adding additional rules to assure good governance – such as the
separation of the Chairman of the Board and head of business execution and the
addition of certain qualifications for Board membership – we chose to adopt the
“ Company with Committees” structure, a management system made possible by
revisions to Japan’s Commercial Code that became effective on April 1, 2003 (for
more information see page 74).
Through the implementation of such initiatives, we aim to transform Sony
into a 21st Century enterprise, build a highly profitable business structure, and
continue to pursue the goal of making Sony the strongest consumer brand.
April 24, 2003
Nobuyuki Idei
Chairman and Group CEO
Kunitake Ando
President and Group COO