OREANDA-NEWS. Sony Corporation has been accelerating initiatives to revitalize and grow its electronics business based on the corporate strategy announced on April 12, 2012, while further growing the Entertainment and Financial Services businesses that have been contributing stable profit, in order to enhance the entire Sony Group’s ability to heighten corporate value.

Following the appointment of the current management team in April 2012, the Company implemented a series of measures focused on rapidly transforming Sony. Achievements resulting from these measures during the fiscal year ending March 31, 2013 (“FY12”) include the following:

Sony Group Key Achievements in FY12
* - Continued growth of sales and profit in the Entertainment and Financial Services businesses
* - Strategic investment and foundation-building for new business creation and strengthening core electronics businesses
* - Enhancement of financial foundations and management structure through business portfolio realignment, asset sales and structural reform
* - Significant improvement in TV business on path to profitability
* - Reinforced Sony’s sales and marketing operations in emerging markets
* - High value-added products developed and launched in core electronics businesses

As a result of these achievements, the Company was able to accomplish its target set at the beginning of FY12 of returning net income attributable to Sony’s stockholders to profit. The target of returning the electronics business to profit remains an ongoing challenge that Sony will continue to address in the fiscal year ended March 31, 2014 (“FY13”).

In FY13, within the electronics business, Sony is continuing to implement the five key initiatives announced in April 2012, and taking into account changes in the business environment, is updating its strategies for the three core electronics businesses. In the entertainment and financial services businesses, Sony will seek to further strengthen profitability. In addition, the Company is continuing to strengthen the overall financial foundations of the Sony Group.