Sony 2006 Annual Report Download - page 6

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4
community would have a clearer understanding of our progress.
I am pleased to report that the financial, operational, and
structural commitments and targets we made to the financial
community are on track with the original plan. Yet while our initial
efforts have resulted in placing Sony on more sound footing for
recovery, still, we have much more work to do. The year ending
March 31, 2007 will be a pivotal year for Sony. Not only will we be
continuing to execute our restructuring initiatives but we will also be
introducing exciting new products, such as PLAYSTATION®3, and
technology formats, such as the Blu-ray Disc™ (which is supported
by numerous partners), to the market. In addition, we will focus on
growth strategy initiatives—which are expected to deliver
near-term results and, at the same time, better position Sony for
the medium-to-long term.
Now in its 60th year, Sony has entered a period of reemergence.
We have taken steps to foster greater unity within the Sony Group.
We are revitalizing our Electronics business while continuing to
further strengthen our Game and Entertainment businesses. Our
Financial Services division continues to deliver strong and consistent
results. By bringing groundbreaking electronics together with the
content that brings it to life, we are in a unique position to develop
revolutionary products and services that excite a new generation of
consumers—and truly set us apart from our competitors.
When Sony began its business in Japan as Tokyo Tsushin Kogyo
(Tokyo Telecommunications Engineering), Sony’s founders, Masaru
Ibuka and Akio Morita, created a company valuing a persistent
pursuit of uniqueness as well as a sense of unity and teamwork.
As Sony expanded, it never failed to focus on innovation in pursuit
of new ideas and markets—even in the face of tremendous
challenges. From my travels to more than 20 Sony sites around
the world since becoming CEO, I can assure you that our
founders’ spirit is alive, thriving and resonating throughout our
company today. I have been deeply touched by our employees’
passion for reinvigorating our company. I can assure you that it is a
passion that Sony’s new management team shares. We have a
sense of urgency and a sense of purpose. We can and will
compete, vigorously, as “Sony United,” one company working
together to be a leader in each of the areas on which we focus.
In this year’s annual report, we take a look at the Sony Group’s
mid-term strategies, recent financial and operating results, and key
operating company highlights. I hope you will find the report
informative and that it will provide a glimpse of our path to Sony’s
promising future.
April 26, 2006
Howard Stringer
Chairman and CEO
Representative Corporate Executive Officer