Sony 2015 Annual Report Download - page 26

In October 2001, Sony Ericsson Mobile Communications AB (“Sony Ericsson”), a 50-50 joint venture
company between Sony Corporation and Telefonaktiebolaget LM Ericsson (“Ericsson”) of Sweden, was
established. In February 2012, Sony acquired Ericsson’s 50 percent equity interest in Sony Ericsson. As a result
of the acquisition, Sony Ericsson became a wholly-owned subsidiary of Sony and changed its name to Sony
Mobile Communications AB (“Sony Mobile”).
In October 2002, Aiwa Co., Ltd. (“Aiwa”), then a TSE-listed subsidiary, became a wholly-owned subsidiary
of Sony Corporation. In December 2002, Aiwa was merged into Sony Corporation.
In June 2003, Sony Corporation adopted the “Company with Three Committees” corporate governance
system in line with the revised Japanese Commercial Code then effective. (Refer to “Board Practices” in
“Item 6. Directors, Senior Management and Employees.”)
In April 2004, Sony Corporation established SFH, a financial holding company, in Japan. Sony Life, Sony
Assurance Inc. (“Sony Assurance”), and Sony Bank Inc. (“Sony Bank”) became subsidiaries of SFH. In October
2007, SFH was listed on the First Section of the TSE in conjunction with the global initial public offering of
shares of SFH by Sony Corporation and SFH.
In April 2004, S-LCD Corporation (“S-LCD”), a joint venture between Sony Corporation and Samsung
Electronics Co., Ltd. of Korea for the manufacture of amorphous thin film transistor (“TFT”) liquid crystal
display (“LCD”) panels, was established in Korea. Sony’s stake in S-LCD was 50 percent minus 1 share. In
January 2012, Sony sold all of its shares of S-LCD to Samsung Electronics Co., Ltd.
In August 2004, Sony combined its worldwide recorded music business, excluding its recorded music
business in Japan, with the worldwide recorded music business of Bertelsmann AG (“Bertelsmann”), forming a
50-50 joint venture, SONY BMG MUSIC ENTERTAINMENT (“SONY BMG”). In October 2008, Sony
acquired Bertelsmann’s 50 percent equity interest in SONY BMG. As a result of the acquisition, SONY BMG
became a wholly-owned subsidiary of Sony. In January 2009, SONY BMG changed its name to Sony Music
Entertainment (“SME”).
In December 2005, Sony Communication Network Corporation, a subsidiary of Sony Corporation, was
listed on the Mother’s market of the TSE, and was later listed on the First Section of the TSE in January 2008.
Sony Communication Network Corporation was renamed So-net Corporation (“So-net”) in July 2013. In January
2013, Sony Corporation acquired all of the common shares of So-net through a tender offer and subsequent share
exchange and, as a result of the acquisition, So-net became a wholly-owned subsidiary of Sony Corporation.
In April 2013, Sony Olympus Medical Solutions Inc. (“SOMED”), a medical business venture between
Sony Corporation and Olympus Corporation was established in Japan. Sony’s stake in SOMED is 51 percent.
In July 2014, Sony Corporation sold its personal computer (“PC”) business operated under the VAIO brand
to Japan Industrial Partners, Inc.
Sony Corporation’s registered office is located at 7-1, Konan 1-chome, Minato-ku, Tokyo 108-0075, Japan,
telephone [phone].
The agent in the U.S. for purposes of this Item 4 is Sony Corporation of America (“SCA”), 25 Madison
Avenue, 26th Floor, New York, NY 10010-8601 (Attn: Office of the General Counsel).
Principal Capital Investments
In the fiscal years ended March 31, 2014, 2015 and 2016, Sony’s capital expenditures were 261.0 billion
yen, 251.0 billion yen and 468.9 billion yen, respectively. Sony’s capital expenditures are expected to be
approximately 355.0 billion yen during the fiscal year ending March 31, 2017. For a breakdown of principal
capital expenditures and divestitures (including interests in other companies), refer to “Item 5. Operating and
Financial Review and Prospects.” The funding requirements of such various capital expenditures are expected to
be financed by cash provided principally by operating and financing activities or the existing balance of cash and
cash equivalents.
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