Sony 2010 Annual Report Download - page 12

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9
•    Sony/ATV Music Publishing, for the first time in the
Company’s history, was named ASCAP Pop Publisher
of the Year—the industry’s highest honor. Sony/ATV
continues to be tremendously innovative in licensing
the songs in its catalog, and with the year’s biggest
international country and pop sensations—Taylor
Swift and Lady Gaga—signed to Sony/ATV, there is a
lot to be excited about.
•    Sadly, 2009 marked the untimely passing of perhaps
the biggest superstar of all time, Michael Jackson.
We were extremely fortunate that he graced our
music company for so many years and served as our
Sony/ATV business partner. I am proud we could help
honor his legacy and celebrate his life by producing
Michael Jackson’s THIS IS IT. Not surprisingly, the
film has captivated worldwide audiences, generated
renewed demand for his music, and made The King
of Pop the biggest selling artist of 2009.
•    The worldwide success of Michael Jackson’s THIS
IS IT, combined with that of Angels & Demons, the
epic end-of-the-world adventure 2012, and our 3D
animated feature Cloudy With a Chance of Meatballs,
led Sony Pictures Entertainment to its highest-grossing
worldwide box office year of all time, taking in more
than $3.6 billion.
It is this type of innovation, engineering and creativity
that will continue to separate Sony from the competition
and help us turn what consumers imagine into reality.
That is the spirit of “make.believe”.
The results of our reorganization, cost reductions,
new products and other transformation initiatives have
already begun to pay off: we recorded a consolidated
operating profit of ¥31.8 billion in fiscal year 2009, an
improvement of more than ¥250 billion over the previ-
ous year even when including our increased restructur-
ing charges, and also recorded more than ¥300 billion
in cash flow.*2 This improvement is a very significant
achievement in a single fiscal year, particularly in the cur-
rent global economic environment. However, this is just
the beginning.
*2 Cash flow from operating and investing activities, excluding the Financial Services
segment’s activities. This information is not in accordance with U.S. GAAP.