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04
　On April 23, 2011, we at Sony were saddened by another loss.
Norio Ohga, Senior Advisor and former President and Chairman of
Sony Corporation, passed away.
　A peerless leader, Mr. Ohga pushed forward with and suc-
ceeded in achieving the integration of art and technology, and
of hardware and entertainment—the vision of Sony founders
Masaru Ibuka and Akio Morita. It is no exaggeration to attribute
Sony’s evolution beyond audio and video products into music,
movies and games, as well as its subsequent transformation
into a global entertainment leader, to Mr. Ohga’s foresight and
leadership. Another of Mr. Ohga’s achievements was Sony’s commercialization of the world’s first
CD player in 1982, after he led the development of the optical disc format we know today as the
CD. A trained vocalist before joining Sony, Mr. Ohga also remained committed to music, serving as
Director of Sony Music Foundation, and was tireless in his efforts to promote greater familiarity with
music worldwide.
　We will continue to value the spirit of innovation—Sony’s DNA—that we have inherited from our founders,
as well as from Mr. Ohga, as we press ahead with our efforts to achieve growth over the medium term
and beyond.
Operating Results in Fiscal Year 2010
Fiscal year 2010 was a watershed year, during which we realized substantial benefits from the decisive trans-
formation process initiated in fiscal year 2008, undertaken with the aim of improving our operations and cre-
ating a foundation for future growth.
　Notwithstanding the adverse influence of foreign exchange rates and the earthquake, our operating
results in fiscal year 2010 were, on the whole, very encouraging. Consolidated sales and operating revenue
remained at the same level as the previous year, reflecting the sharp appreciation of the yen during the period,
but increased 6% year-on-year on a local currency basis.
　Consolidated operating income reached 199.8 billion yen for the fiscal year, more than 6 times that of the
previous year, despite the negative impact of foreign exchange rates. In contrast to the previous fiscal year,
when robust results in the financial services and entertainment businesses drove our recovery from the recent
global recession, the noteworthy factors behind the increase in consolidated operating income in fiscal year
2010 were the improved results in the electronics and game businesses, while we also enjoyed continued
profit contribution from the financial services and entertainment businesses.*1
　We recorded a loss attributable to Sony Corporation’s stockholders, due principally to recording ap-
proximately 360 billion yen in valuation allowances against deferred tax assets at Sony Corporation—on an