Sony Corporation
Sony Corporation
Sony Corporation
Sony Corporation commonly known as Sony is a Japanese multinational corporation headquartered in Tokyo, Konan Minato, Japan.
HISTORY:
Sony Founded by Akio Morita and Masaru Ibuka originated in the wake of World War 2. In 1946, Masaru Ibuka started an electronics shop in a in Tokyo. The company had $530 in capital and a total of eight employees. The next year, he was joined by his colleague, Akio Morita, and they founded a company called Tokyo Tsushin Kogyo TTK for short (Tokyo Telecommunications Engineering Corporation). The company built Japan's first tape recorder which was called the Type-G. In 1958 the company name was changed to Sony when they realised that the name the company chose was already in their domestic market and their American clients found it difficult to spell so they eventually came up with the name Sony derived from sonus, the Latin word for sound, and also from the English slang word "sonny" meaning son.
Now coming to the present profile of the company , the headquarters is situated at Konan Minato, Tokyo, Japan. The companys present chairman is Howard Stringer and president and CEO of the company is "Kazuo Hirai". The company has 4 main basic platforms They are:1. 2. 3. 4. Electronics Music Motion pictures Finance services
Working out with new strategies in the business, Sony has been the top players in the conglomerate market even since it started As its a conglomerate it deals with different and diverse range of products and services like: PRODUCTS:1. 2. 3. 4. 5. 6. 7. Consumer electronics. Semi conductors. Video games. Media. Computer hardware. Telecommunication equipment. Medical equipment.
MUSIC:
It is the second largest recording music company controlled by Sony Corporation of America. Some of the popular singers the company has been in contract with are: Michael Jackson. Akon. Eminem. Beetels. Usher.
In the year 2004 the company had an joint venture with Beetels Mann AG called Sony BMG.
Acquisitions: It acquired Famous music in the year 2007. The company has acquired Beetels Mann AG in 2008 by purchasing complete shares of it.
Sony/ATV Music Publishing: This was originally founded as Associated Television (ATV) in the UK in 1955 and later spread into America. In the year 1991 ATV has merged into Sony and became Sony Music Entertainment acquired 50% of the company share in 1995.
Acquisitions:
FINANCIAL SERVICES:
Sony financial holdings: SONY LIFE SONY ASSURANCE SONY BANK SONY SECURITIES
Its head quarters is located in Tokyo. It accounts for more than half of Sonys earnings. The main strategy of Sony is its low fees not going with its brand. The company was profitable till the year 2000. Its market capitalization came down from $100 billion to $18 billion dollars.
In 2012 the losses were about $6.36 billion dollars. Its strategy to overcome the losses is to reduce the workforce and to take help from the parent company electronics, which comes under corporate parenting.
The company is one of the leading manufacturers of electronic products for the consumer and professional markets. Sony is ranked 87th on the 2012 list of Fortune Global 500. Organisation Structure: