I became President and CEO of Sony Corporation on April 1, 2012, succeeding Sir Howard Stringer, and I am acutely aware of the weight of responsibility that comes with being entrusted to build a stronger Sony.
Today the Sony Group comprises three main businesses: electronics, entertainment and financial services. Entertainment and financial services have stable business foundations and both are poised for future growth. In contrast, the operating environment for our electronics business* remains harsh, with profits suffering from price competition resulting from product commoditization and the impact of persistently worsening foreign exchange rates. Accordingly, rebuilding the electronics business and repositioning it for growth are the most urgent tasks for the Sony Group, and my biggest responsibility.
Sony is known for its groundbreaking products and services that inspire the curiosity of people the world over and usher in new eras of entertainment. This has blessed us with many stakeholders who trust and support the Sony brand. Our superb technology has enabled us to build a diverse and successful portfolio of hardware. We have built a rich library of film, music and game content and extensive global business know-how. And we are using our network services to connect this content to our products in increasing numbers.
However, our most valuable resource is Sony´s DNA-a distinctive will and drive to generate new value-which has been cultivated since Sony´s founding and passed down from one generation of Sony employees to the next. My duty is to change this company into one that allows every Sony employee to best express the Sony DNA within them so that we can all do what must be done to deliver continuously improving results.
Sony will change. I am fully committed to making this happen. By furthering the integration of hardware and entertainment-the vision of founders Masaru Ibuka and Akio Morita-and remaining true to Sony´s DNA, we will succeed in building a better, stronger Sony.
* Electronics business consists of Consumer Products & Services, Professional,. Device & Solutions and Sony Mobile Communications.