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Management Message
02
To Our Shareholders
"Continuing to be One of the World's Leading Consumer Brands"
04
Nobuyuki Idei
"Operational Restructuring Aimed at Realizing Outstanding
07
Efficiency and High Added Value"
Kunitake Ando
Strategy
18
The Future of Key Components
24
Research and Development
28
Sony Craftsmanship
Convergence
40
– A Key to Sony's Constant Transformation
• Home Electronics
• Mobile Electronics
• Game
• Entertainment
• Financial Services
• Other
Products
Sony Products File 01-06
11
• File 01 – Flat Panel Television "WEGA"
• File 02 – DVD Recorder "Sugoroku"
• File 03 – DVD Recorder "PSX"
• File 04 – PC "VAIO"
• File 05 – Digital Still Camera "Cybershot"
• File 06 – Video Camera "DVD Handycam"
Cautionary Statement
Statements made in this annual report with respect to Sony's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future
performance of Sony. Forward-looking statements include, but are not limited to, those statements using words such as "believe", "expect", "plans", "strategy", "prospects", "forecast", "estimate",
"project", "anticipate", "aim", "may" or "might" and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or
written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions and beliefs in light of the information currently
available to it. Sony cautions you that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore you
should not place undue reliance on them. You also should not rely on any obligation of Sony to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise. Sony disclaims any such obligation. Risks and uncertainties that might affect Sony include, but are not limited to (i) the global economic environment in which Sony operates, as well as the
economic conditions in Sony's markets, particularly levels of consumer spending; (ii) exchange rates, particularly between the yen and the U.S. dollar, the euro and other currencies in which Sony makes
significant sales or in which Sony's assets and liabilities are denominated; (iii) Sony's ability to continue to design and develop and win acceptance of its products and services, which are offered in highly
competitive markets characterized by continual new product introductions, rapid development in technology and subjective and changing consumer preferences (particularly in the Electronics, Game, Music
and Pictures segments); (iv) Sony's ability to implement successfully personnel reduction and other business reorganization activities in its Electronics, Music and Pictures segments; (v) Sony's ability to imple-
ment successfully its network strategy for its Electronics, Music, Pictures and Other segments and to develop and implement successful sales and distribution strategies in its Music and Pictures segments in
light of the Internet and other technological developments; (vi) Sony's continued ability to devote sufficient resources to research and development and, with respect to capital expenditures, to correctly
prioritize investments (particularly in the Electronics segment); (vii) the success of Sony's joint ventures and alliances; and (viii) the risk of being able to obtain regulatory approval and successfully form a
jointly owned recorded music company with BMG. Risks and uncertainties also include the impact of any future events with material unforeseen impacts.
Topics
36
At a Glance: Operating Performance Highlights
55
Sony's Advertising Around the World
56
Corporate Governance
58
New Members of the Board and Corporate
Executive Officers
107
Investor Information
Report
30
The Inside Story from Sony's
Nagasaki Fab
People
Sony with You
10
Claude Nobs
23
Eikou Sumura
34
Alejandro M. Lopez
35
Lance Lee
Financial Section
59
Consolidated Financial Information
105
Stock Information
106
Stock Acquisition Rights and Bond Information
3 3
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