Sony Corporation

, commonly stylized as SONY, is a Japanese multinational conglomerate corporation headquartered in Minato, Tokyo, Japan. As a major technology company, it operates as one of the world's largest manufacturers of consumer and professional electronic products, the largest video game console company and the largest video game publisher. Through Sony Entertainment Inc, it is one of the largest music companies (largest music publisher and second largest record label) and the third largest film studio, making it one of the most comprehensive media companies. It is the largest technology and media conglomerate in Japan. It is also recognized as the most cash-rich Japanese company, with net cash reserves of ¥2 trillion.

Sony, with its 55 percent market share in the image sensor market, is the largest manufacturer of image sensors, the second largest camera manufacturer, and is among the semiconductor sales leaders. It is the world's largest player in the premium TV market for a television of at least with a price higher than $2,500 as well as second largest TV brand by market share and, as of 2020, the third largest television manufacturer in the world by annual sales figures.

Sony Group Corporation is the holding company of the , which comprises Sony Corporation, Sony Semiconductor Solutions, Sony Entertainment (Sony Pictures, Sony Music), Sony Interactive Entertainment, Sony Financial Group, Sony Creative Products, and others.

The company's slogan is ''We are Sony''. Their former slogans were ''The One and Only'' (1979–1982), ''It's a Sony'' (1981–2005), ''like.no.other'' (2005–2009), ''make.believe'' (2009–2013), and ''Be Moved'' (2013–2021).

Sony has a weak tie to the Sumitomo Mitsui Financial Group (SMFG) corporate group, the successor to the Mitsui ''keiretsu''. Sony is listed on the Tokyo Stock Exchange (in which it is a constituent of the Nikkei 225 and TOPIX Core30 indexes) with an additional listing in the form of American depositary receipts listed in the New York Stock Exchange (traded since 1970, making it the oldest Japanese company to be listed in an American exchange), and was ranked 88th on the 2021 ''Fortune'' Global 500 list.

History

Tokyo Tsushin Kogyo

Sony began in the wake of World War II. In 1946, Masaru Ibuka started an electronics shop in Shirokiya, a department store building in the Nihonbashi area of Tokyo. The company started with a capital of ¥190,000 and a total of eight employees. On 7 May 1946, Ibuka was joined by Akio Morita to establish a company called (Tokyo Telecommunications Engineering Corporation). The company built Japan's first tape recorder, called the Type-G. In 1958, the company changed its name to "Sony".

Name

When ''Tokyo Tsushin Kogyo'' was looking for a romanized name to use to market themselves, they strongly considered using their initials, TTK. The primary reason they did not is that the railway company Tokyo Kyuko was known as TTK. The company occasionally used the acronym "Totsuko" in Japan, but during his visit to the United States, Morita discovered that Americans had trouble pronouncing that name. Another early name that was tried out for a while was "Tokyo Teletech" until Akio Morita discovered that there was an American company already using Teletech as a brand name.

The name "Sony" was chosen for the brand as a mix of two words: one was the Latin word "'' sonus''", which is the root of sonic and sound, and the other was "'' sonny''", a common slang term used in 1950s America to call a young boy.Sony Corporate History (Japanese)
Sony.co.jp. Retrieved 7 July 2011. In 1950s Japan, "sonny boys" was a loan word in Japanese, which connoted smart and presentable young men, which Sony founders Akio Morita and Masaru Ibuka considered themselves to be.

The first Sony-branded product, the TR-55 transistor radio, appeared in 1955, but the company name did not change to Sony until January 1958.

At the time of the change, it was extremely unusual for a Japanese company to use Roman letters to spell its name instead of writing it in kanji. The move was not without opposition: TTK's principal bank at the time, Mitsui, had strong feelings about the name. They pushed for a name such as Sony Electronic Industries, or Sony Teletech. Akio Morita was firm, however, as he did not want the company name tied to any particular industry. Eventually, both Ibuka and Mitsui Bank's chairman gave their approval.

Globalization

According to Schiffer, Sony's TR-63 radio "cracked open the U.S. market and launched the new industry of consumer microelectronics." By the mid-1950s, American teens had begun buying portable transistor radios in huge numbers, helping to propel the fledgling industry from an estimated 100,000 units in 1955 to 5 million units by the end of 1968.

Sony co-founder Akio Morita founded Sony Corporation of America in 1960. In the process, he was struck by the mobility of employees between American companies, which was unheard of in Japan at that time. When he returned to Japan, he encouraged experienced, middle-aged employees of other companies to reevaluate their careers and consider joining Sony. The company filled many positions in this manner, and inspired other Japanese companies to do the same. Moreover, Sony played a major role in the development of Japan as a powerful exporter during the 1960s, 1970s and 1980s,Christian, Caryl, and With Hideko Takayama and Kay Itoi in Tokyo, George Wehrfritz in Hong Kong, John Sparks and Michael Hastings in, New York. "Sony is Not Japan; the Appointment of a Foreign CEO is a Sign of how Far the Iconic Company has Fallen in the Japanese Corporate Elite." Newsweek 21 March 2005: 30-. ProQuest Research Library. Web. 26 May 2012. supplying the U.S. Military with bomb parts used in the Vietnam War. It also helped to significantly improve American perceptions of "made in Japan" products.Lohr, Steve. "Hard-Hit Sony Girds for a Fight in the American Electronics Market." New York Times: A.8. New York Times. 14 August 1983. Web. 26 May 2012. Known for its production quality, Sony was able to charge above-market prices for its consumer electronics and resisted lowering prices.

In 1971, Masaru Ibuka handed the position of president over to his co-founder Akio Morita. Sony began a life insurance company in 1979, one of its many peripheral businesses. Amid a global recession in the early 1980s, electronics sales dropped and the company was forced to cut prices. Sony's profits fell sharply. "It's over for Sony", one analyst concluded. "The company's best days are behind it."

Around that time, Norio Ohga took up the role of president. He encouraged the development of the compact disc (CD) in the 1970s and 1980s, and of the PlayStation in the early 1990s. Ohga went on to purchase CBS Records in 1988 and Columbia Pictures in 1989, greatly expanding Sony's media presence. Ohga would succeed Morita as chief executive officer in 1989.

Under the vision of co-founder Akio MoritaFackler, Martin. "Cutting Sony, a Corporate Octopus, Back to a Rational Size." New York Times: C.1. New York Times. 29 May 2006. Web. 27 May 2012. and his successors, the company had aggressively expanded into new businesses. Part of its motivation for doing so was the pursuit of "convergence", linking film, music and digital electronics via the Internet. This expansion proved unrewarding and unprofitable, threatening Sony's ability to charge a premium on its products as well as its brand name. In 2005, Howard Stringer replaced Nobuyuki Idei as chief executive officer, marking the first time that a foreigner had run a major Japanese electronics firm. Stringer helped to reinvigorate the company's struggling media businesses, encouraging blockbusters such as ''Spider-Man'' while cutting 9,000 jobs. He hoped to sell off peripheral business and focus the company again on electronics. Furthermore, he aimed to increase cooperation between business units, which he described as "silos" operating in isolation from one another. In a bid to provide a unified brand for its global operations, Sony introduced a slogan known as "make.believe" in 2009.

Despite some successes, the company faced continued struggles in the mid- to late-2000s. In 2012, Kazuo Hirai was promoted to president and CEO, replacing Stringer. Shortly thereafter, Hirai outlined his company-wide initiative, named "One Sony" to revive Sony from years of financial losses and bureaucratic management structure, which proved difficult for former CEO Stringer to accomplish, partly due to differences in business culture and native languages between Stringer and some of Sony's Japanese divisions and subsidiaries. Hirai outlined three major areas of focus for Sony's electronics business, which include imaging technology, gaming and mobile technology, as well as a focus on reducing the major losses from the television business.

In February 2014, Sony announced the sale of its Vaio PC division to a new corporation owned by investment fund Japan Industrial Partners and spinning its TV division into its own corporation as to make it more nimble to turn the unit around from past losses totaling $7.8 billion over a decade. Later that month, they announced that they would be closing 20 stores. In April, the company announced that they would be selling 9.5 million shares in Square Enix (roughly 8.2 percent of the game company's total shares) in a deal worth approximately $48 million. In May 2014 the company announced it was forming two joint ventures with Shanghai Oriental Pearl Group to manufacture and market Sony's PlayStation games consoles and associated software in China.

In 2015, Sony purchased Toshiba's image sensor business.

It was reported in December 2016 by multiple news outlets that Sony was considering restructuring its U.S. operations by merging its TV & film business, Sony Pictures Entertainment, with its gaming business, Sony Interactive Entertainment. According to the reports, such a restructuring would have placed Sony Pictures under Sony Interactive's CEO, Andrew House, though House wouldn't have taken over day-to-day operations of the film studio. According to one report, Sony was set to make a final decision on the possibility of the merger of the TV, film, & gaming businesses by the end of its fiscal year in March of the following year (2017).

In 2017, Sony sold its lithium-ion battery business to Murata Manufacturing.

In 2019, Sony merged its mobile, TV and camera businesses.

On 1 April 2020, Sony Electronics Corporation was established as an intermediate holding company to own and oversee its electronics and IT solutions businesses.

On 19 May 2020, the company announced that it would rename Sony Group Corporation as of 1 April 2021. Subsequently, Sony Electronics Corporation would be renamed to Sony Corporation. On the same day the company announced that it would turn Sony Financial Holdings (currently Sony Financial Group), of which Sony already owns 65.06% of shares, to a wholly owned subsidiary through a takeover bid.

On 1 April 2021, Sony Corporation was renamed Sony Group Corporation. On the same day, Sony Mobile Communications Inc. absorbed Sony Electronics Corporation, Sony Imaging Products & Solutions Inc., and Sony Home Entertainment & Sound Products Inc. and changed its trade name to Sony Corporation.

Formats and technologies

Sony has historically been notable for creating its own in-house standards for new recording and storage technologies, instead of adopting those of other manufacturers and standards bodies, while its success in the early years owes to a smooth capitalization on the Compact Cassette standard introduced by Philips, with which Sony went on to enjoy a decades-long technological relationship in various areas. Sony (either alone or with partners) has introduced several of the most popular recording formats, including the 3.5-inch floppy disk, Compact Disc and Blu-ray Disc.

Video recording

Sony introduced U-matic, the world's first videocassette format, in 1971, but the standard was unpopular for domestic use due to the high price. The company subsequently launched the Betamax format in 1975. Sony was involved in the videotape format war of the early 1980s, when they were marketing the Betamax system for video cassette recorders against the VHS format developed by JVC. In the end, VHS gained critical mass in the marketbase and became the worldwide standard for consumer VCRs.

Betamax is, for all practical purposes, an obsolete format. Sony's professional-oriented component video format called Betacam, which was derived from Betamax, was used until 2016 when Sony announced it was stopping production of all remaining 1/2-inch video tape recorders and players, including the Digital Betacam format.

In 1985, Sony launched their Handycam products and the Video8 format. Video8 and the follow-on hi-band Hi8 format became popular in the consumer camcorder market. In 1987 Sony launched the 4 mm DAT or Digital Audio Tape as a new digital audio tape standard.

Visual display

Sony held a patent for its proprietary Trinitron until 1996.

Sony introduced the Triluminos Display, the company's proprietary color reproduction enhancing technology, in 2004, featured in the world's first LED-backlit LCD televisions. It was widely used in other Sony's products as well, including computer monitors, laptops, and smartphones. In 2013, Sony released a new line of televisions with an improved version of the technology, which incorporated quantum dots in the backlight system. It was the first commercial use of quantum dots.

In 2012, the company revealed a prototype of an ultrafine RGB LED display, which it calls the Crystal LED Display.

Audio recording

Sony used the Compact Cassette format in many of its tape recorders and players, including the Walkman, the world's first portable music player. Sony introduced the MiniDisc format in 1992 as an alternative to Philips DCC or Digital Compact Cassette and as a successor to the Compact Cassette. Since the introduction of MiniDisc, Sony has attempted to promote its own audio compression technologies under the ATRAC brand, against the more widely used MP3. Until late 2004, Sony's Network Walkman line of digital portable music players did not support the MP3 standard natively.

In 2004, Sony built upon the MiniDisc format by releasing Hi-MD. Hi-MD allows the playback and recording of audio on newly introduced 1 GB Hi-MD discs in addition to playback and recording on regular MiniDiscs. In addition to saving audio on the discs, Hi-MD allows the storage of computer files such as documents, videos and photos.

Audio encoding

In 1993, Sony challenged the industry standard Dolby Digital 5.1 surround sound format with a newer and more advanced proprietary motion picture digital audio format called SDDS (Sony Dynamic Digital Sound). This format employed eight channels (7.1) of audio opposed to just six used in Dolby Digital 5.1 at the time. Ultimately, SDDS has been vastly overshadowed by the preferred DTS (Digital Theatre System) and Dolby Digital standards in the motion picture industry. SDDS was solely developed for use in the theatre circuit; Sony never intended to develop a home theatre version of SDDS.

Sony and Philips jointly developed the Sony-Philips digital interface format (S/PDIF) and the high-fidelity audio system SACD. The latter became entrenched in a format war with DVD-Audio. Still, neither gained a major foothold with the general public. CDs had been preferred by consumers because of the ubiquitous presence of CD drives in consumer devices until the early 2000s when the iPod and streaming services became available.

In 2015, Sony introduced LDAC, a proprietary

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