Foundation: 1946
Headquarters: Minato Ward, Tokyo
President and CEO: Kenichiro Yoshida
Executive Summary: Sony stands as one of Japan’s premier companies, known for its diverse portfolio in consumer and professional electronics, gaming, entertainment, and financial services, positioning it as a global leader in music, video games, electronics, and film. The company was born in 1946 when Masaru Ibuka opened an electronics shop, which evolved into Tokyo Tsushin Kogyo with Akio Morita. Their early successes included Japan’s first tape recorder, the Type-G in 1950, and the TR-55 transistor radio in 1955. In 1958, the company rebranded to “Sony,” and soon after, the TR-63 pocket transistor radio gained international acclaim, leading to the establishment of Sony Corporation of America.
Sony’s product innovations continued with the release of its first color television in 1968, followed by the first color VCR in 1971, and the Betamax VCR in 1975, which, despite its superior technology, lost market share due to higher costs. The Sony Walkman, introduced in 1979, became a cultural phenomenon, selling hundreds of millions worldwide. In collaboration with Philips, Sony launched its first CD player in 1982, and the world’s first camcorder the next year.
Under President Norio Ohga, Sony diversified into entertainment by acquiring CBS Records Group and Columbia Pictures Entertainment, later rebranded as Sony Music Entertainment and Sony Pictures Entertainment in 1991. Following the deaths of its founders, Sony faced its first loss in 1993 but bounced back with the PlayStation in 1994, which by 2002 significantly contributed to Sony’s revenue. The online gaming division with EverQuest also proved profitable, and the Vaio line of computers was introduced in 1997 for multimedia enthusiasts.
Howard Stringer, appointed CEO in 2005, was the first non-Japanese to lead a major Japanese electronics company, focusing on cost reduction and blockbuster movies. However, Sony continued to face challenges, leading to Kazuo Hirai’s appointment as president and CEO in 2012, who continued Stringer’s strategies. Kenichiro Yoshida took over in recent years, steering Sony towards new ventures like the Vision-S car, Airpeak drone, and Soliss.
Sony’s annual revenue is in the range of US$80 billion.
