Sony's CEO Hosts Corporate Strategy Meeting (Transcript)

Sony Corporation (SNE)

Corporate Strategy Meeting

April 12, 2012 04:00 AM ET

Executives

Kazuo Hirai – President and CEO

Presentation

Unidentified Company Representative

Good afternoon ladies and gentlemen. Thank you very much for coming to this meeting. We will start the corporate strategy meeting. And the first will Kazuo Hirai appointed as President and CEO of Sony Corporation as of the 1st of April will talk about the corporate strategy under the new management structure for about 40 minutes and then answer your questions.

For Q&A session, Hirai will be a main person to respond to your questions but others will be joining in. the Executive Deputy President, Yoshioka and EVP, CFO, Masaru Kato, EVP is Chief Strategy Officer, Tadashi Saito, the EVP Nemoto as well as Executive, the EVP Kunimasa Suzuki they are all Corporate Executive Officers. And we plan to conclude this meeting at quarter past six. So, Hirai-san please.

Kazuo Hirai

Good afternoon ladies and gentlemen. Thank you very much for attending today's conference. Taking time out of your busy schedule. Before talking about the corporate strategy, let me say that two days ago we announced the downward revision to our earnings forecast and we are now forecasting a net loss of 520 billion yen for fiscal 2011. The news hit me hard and as CEO I take it very seriously. But at the same time, it strengthened my resolve to transform Sony. Now it’s the time for Sony to change. Since I was nominated President and CEO in February, I have received laurels of encouragement from investors, analysts, the press and other stake holders. They want Sony to change and to support Sony's process of change in transformation. So do the employees. They want to restore Sony to its former glory and go further beyond. Sony will change. I have fully dedicated myself to changing Sony. Everyone at Sony is standing together to make this happen and as a result, Sony will change. Today's corporate strategy meeting is organized too share with you how we will change and what we will do to achieve this.

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