Sony 2012 Annual Report Download - page 6

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I became President and CEO of Sony Corporation on April 1, 2012, succeeding Sir
Howard Stringer, and I am acutely aware of the weight of responsibility that comes
with being entrusted to build a stronger Sony.
Today the Sony Group comprises three main businesses: electronics,
entertainment and financial services. Entertainment and financial services have stable
business foundations and both are poised for future growth. In contrast, the
operating environment for our electronics business* remains harsh, with profits
suffering from price competition resulting from product commoditization and the
impact of persistently worsening foreign exchange rates. Accordingly, rebuilding the
electronics business and repositioning it for growth are the most urgent tasks for the
Sony Group, and my biggest responsibility.
Sony is known for its groundbreaking products and services that inspire the
curiosity of people the world over and usher in new eras of entertainment. This has
blessed us with many stakeholders who trust and support the Sony brand. Our
superb technology has enabled us to build a diverse and successful portfolio of
hardware. We have built a rich library of film, music and game content and extensive
global business know-how. And we are using our network services to connect this
content to our products in increasing numbers.
However, our most valuable resource is Sony’s DNA—a distinctive will and drive to
generate new value—which has been cultivated since Sony’s founding and passed
down from one generation of Sony employees to the next. My duty is to change this
company into one that allows every Sony employee to best express the Sony DNA
within them so that we can all do what must be done to deliver continuously
improving results.
Sony will change. I am fully committed to making this happen. By furthering the
integration of hardware and entertainment—the vision of founders Masaru Ibuka and
Akio Morita—and remaining true to Sony’s DNA, we will succeed in building a better,
stronger Sony.
Operating Results in Fiscal Year 2011
During the fiscal year ended March 31, 2012 (fiscal year 2011), our operating results,
particularly in our electronics business, were negatively aected by the Great East
4
* Electronics business consists of Consumer Products & Services, Professional, Device & Solutions and Sony Mobile
Communications.