The following information is true and accurate at the time of publication.
April 23, 2003
Authorization by shareholder resolution for purchases of its
own shares
Purchases of its own shares pursuant to Article 210 of the Commercial
Code
Sony Corporation resolved at a meeting of its Board of Directors
today to obtain an authorization by shareholder resolution to be
adopted at the 86th Ordinary General Meeting of Shareholders scheduled
to be held on June 20, 2003 for purchases of its own shares pursuant
to Article 210 of the Commercial Code.
1. Rationale for obtaining authorization by shareholder resolution
In order to retain flexibility in purchasing its own shares when
necessary during the period up to the next Ordinary Meeting of Shareholders,
Sony Corporation will obtain the authorization by shareholder resolution
for purchases of its own shares.
2. Details of authorization
(1) Type of shares
Shares of common stock and shares of Subsidiary Tracking Stock linked to Sony Communication Network Corporation ("Tracking stock")
(2) Number of shares
Common stock: Up to 90,000,000
shares
Tracking stock: Up to 300,000 shares
(3) Total purchase price
Common stock: Up to 400 billion
yen
Tracking stock: Up to 1 billion yen
