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5
A Year of Execution
After appointing my new management team in April 2012, we began optimizing resources
and realigning our business portfolio. We put together a cross-divisional transformation
project, which I led personally, the goal of which is to accelerate decision making and exe-
cution while we create a foundation for revitalizing the electronics* business and reposition-
ing it for growth.
　My management team and I made key decisions aimed at creating new businesses while
strengthening core businesses. Among these were decisions on investments to expand our
CMOS image sensor manufacturing capacity; the acquisition of Gaikai, Inc., a U.S.-based de-
veloper that provides interactive cloud-based gaming services; and the establishment of
Sony Olympus Medical Solutions Inc., a joint venture with Olympus Corporation that plans
to deliver new innovative medical products, such as surgical endoscopes, and a new medi-
cal and imaging systems solutions business.
　At the same time, we realigned our business and asset portfolio and strengthened our fi-
nancial position. Some of the decisions made include the sale of the chemical products-re-
lated business, as well as the sale of assets including our U.S. headquarters building in New
York City. Furthermore, in order to increase eciency and reinforce our business infrastruc-
ture, we implemented structural reforms including optimizing resources and streamlining
our marketing organization in developed markets, consolidating certain manufacturing op-
erations in Japan, and expediting measures to reduce headquarters headcount.
　We also executed various initiatives to turn around the electronics business by working to
strengthen our mobile, imaging and game businesses (our three core electronics businesses),
turning around the television business, and expanding our business in emerging markets.
　We also improved profitability in our entertainment and financial services businesses,
both of which already contribute stable profit. Profitability in our pictures’ businesses grew
through the successful release of several global hit movie titles, including The Amazing Spi-
der-Man, and the latest James Bond film, Skyfall, and the expansion of its television net-
works, production and its distribution businesses. Market share and profitability in the re-
corded music business similarly benefited from our eorts to discover, nurture and develop
new artistic talent such as One Direction, who achieved significant global success in fiscal
* The term “electronics” refers to the sum of the Imaging Products & Solutions, Game, Mobile Products & Communications, Home En-
tertainment & Sound, Devices segments and medical and network businesses.