On May 7, 2006, Sony celebrated its 60th anniversary. On the same day in 1946, Ibuka-san and Morita-san established, with capital of just 190,000 yen, Tokyo Tsushin Kogyo (Tokyo Telecommunications Engineering Corporation), which would later become Sony. At the time, the factory and office was in a rented space in Nihonbashi in Tokyo. But, as the sales area expanded, they had to move. For a time, they were forced to move different workspaces to different locations - hardly an ideal solution. The next year, Ibuka-san and Morita-san found a warehouse in Shinagawa, where all the manufacturing, warehouses and office operations were moved. The warehouse was in such a state that when it rained, everyone had to use umbrellas. Still, it was a joy to be able to work under the same, if somewhat leaky, roof. And, soon after came the tape recorder and transistor radio.