Sony 2009 Annual Report Download - page 9

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7
I am addressing you all today at a significant turning point in the
history of Sony. The fiscal year ended March 31, 2009 (fiscal year
2008) saw unprecedented economic turmoil the likes of which we
could not have imagined just one year earlier. The global economic
crisis, combined with the pronounced strength of the yen, signifi-
cantly impaired the health of our operating results—and those
of many other companies—with a speed and ferocity that were
unparalleled in recent history. This impact put us in an unsettling
financial situation and gave me, and many of you, rightful cause for
concern.
Despite the challenging nature of the past fiscal year, the
global economic crisis has presented us with an opportunity to
re-position ourselves to take on our competitors and be poised to
capitalize when the economy turns around. Before I discuss that,
however, I would like to mention some of the highlights of fiscal
year 2008, which demonstrate what Sony is capable of achieving
even in adverse economic situations and serve as beacons of
inspiration during these tough times.
• In the past fiscal year, we developed and launched some of the
most technologically innovative and unique products on the
market today:
• TheBRAVIA™ ZX1 is the world’s thinnest*1 and lightest*2 LCD
TV and features LED edge lighting (instead of the typical back
lighting). This elegant set can easily be hung on a wall despite
having a 40-inch screen, and it connects wirelessly to other
devices.