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September 07, 2010

Sony to Realign its LCD TV Manufacturing Operations for Europe

- Barcelona Technology Center in Spain to be sold to Ficosa International and COMSA EMTE -


As part of its on-going initiative to enhance its manufacturing efficiency to improve the profitability of its liquid crystal display ("LCD") TV business, Sony Corporation ("Sony") today announced that its relevant European subsidiaries have agreed with Ficosa International, S.A. ("Ficosa") and COMSA EMTE SL ("COMSA EMTE"), both headquartered in Spain, to sell the Barcelona technology center (formal name: Sony Espana S.A., Barcelona Technology Center [Barcelona, Spain]), which manufactures LCD TVs for the Europe region, to Ficosa and COMSA EMTE.

With this transaction, the Barcelona technology center will be divided into two new companies, one focusing on manufacturing and the other focusing on development and engineering. The manufacturing company will be wholly-owned and operated by Ficosa, while the development and engineering company will be a 50:50 joint venture between Ficosa and COMSA EMTE. Between them, the new companies intend to assume employment of the majority of employees at the Barcelona technology center.

Sony will source LCD TV production to the new manufacturing company for two years after completion of the transfer. Both the new manufacturing and engineering companies will concurrently develop new businesses.

The transfer is planned to be completed by the end of December 2010, subject to certain regulatory and other approvals.

Although a loss is expected to be incurred by Sony in connection with the transaction for the rest of the current fiscal year, no material impact is anticipated on Sony's consolidated financial results forecast for the current fiscal year that was released at the time of the first quarter earnings announcement, as such loss has been included in the forecast as a part of the 75 billion yen of estimated restructuring charges.

Overview of Barcelona technology center (Sony Espana S.A., Barcelona Technology Center)

  Location: Barcelona, Spain  
  Date established: January 1973  
  Number of employees: approximately 1,100 (as of August 31, 2010)  
  Site area: 206,000 m²  
  Representative: President, Sony Espana S.A.
Managing Director, Barcelona Technology Center  
Pedro Navarrete
Richard Davies
  Key products: LCD TVs and related components  

About Ficosa International, S.A.

Established in 1949, Ficosa International, S.A. is a multinational corporation devoted to the research, development, production and commercialization of systems and parts for automobiles. It is headquartered in Barcelona, Spain and employs 6,800 people. Ficosa is present in 19 countries around the world including Europe, North America, South America and Asia.

About COMSA EMTE SL

COMSA EMTE SL is the second-largest Spanish unlisted group in the infrastructure, services, engineering and systems sector. The group has a presence in 13 countries and employs 9,000 people.

About Sony Corporation

Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $78 billion for the fiscal year ended March 31, 2010. Sony Global Web Site: www.sony.net/


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