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Sony Corporation ("Sony") has decided to establish Sony Imaging Products & Solutions Inc., a wholly-owned subsidiary that will be responsible for its imaging products and solutions businesses. All functions currently held within the Imaging Products & Solutions Sector within Sony, including the functions related to the consumer camera business, solutions business with a focus on broadcast- and professional-use products, and medical business, will be transferred to the new company. Sony Imaging Products & Solutions Inc. will aim to commence its operations on April 1, 2017. Shigeki Ishizuka, currently Corporate Executive Officer in charge of the imaging products and solutions businesses at Sony, is expected to be appointed President and Representative Director of this new company.
As part of its mid-term corporate strategy announced on February 18, 2015, Sony outlined its intention to sequentially split out the business units within Sony to form new subsidiary companies. The aim of these measures is to ensure clearly attributable accountability and responsibility from the perspective of shareholders, management policies with an emphasis on sustainable profit generation, acceleration of decision-making processes and reinforcement of business competitiveness. The establishment of Sony Imaging Products & Solutions Inc. forms part of this strategy, and upon completion of the transfer, all major businesses of Sony group will be operated by its subsidiary companies.