Sony Group Corporation

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sony
Sony announces the Xperia 1 III and Xperia 5 III with variable telephoto lenses

Sony Group Corporation

 

Sony Group Corporation (ソニーグループ株式会社Sonī Gurūpu kabushiki gaisha/ˈsni/ SOH-nee, commonly known as Sony and stylized as SONY) is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo.[6] The company operates as one of the world’s largest manufacturers of consumer and professional electronic products, the largest video game console company, the second largest video game publisher, the second largest record company, as well as one of the most comprehensive media companies,[7][8] being the largest Japanese media conglomerate by size overtaking the privately held, family-owned Yomiuri Shimbun Holdings, the largest Japanese media conglomerate by revenue.

Sony, with its 50 percent market share in the image sensor market, is among the semiconductor sales leaders[9][10] and, as of 2015, the fifth-largest television manufacturer in the world by annual sales figures. It is the world’s largest player in the premium TV market, a market for a television of at least 55 inches (140 centimeters) with a price higher than $2,500.[11][12]

Sony Group Corporation is the holding company of the Sony Group (ソニー・グループSonī Gurūpu), which comprises Sony Corporation, Sony Semiconductor Solutions, Sony PicturesSony MusicSony Interactive EntertainmentSony Financial Holdings, and others.

The company’s slogan is Be Moved. Their former slogans were The One and Only (1979–1982), It’s a Sony (1982–2005), like.no.other (2005–2009)[13] and make.believe (2009–2013).[14]

Sony has a weak tie to the Sumitomo Mitsui Financial Group (SMFG) corporate group, the successor to the Mitsui group.[15] 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 122nd on the 2020 Fortune Global 500 list.[16]

 

Sony Group Corporation
Native name
ソニーグループ株式会社
Romanized name
Sonī Gurūpu kabushiki kaisha
Formerly Tokyo Tsushin Kogyo, Ltd. (1946–1957)
Sony Corporation (1957–2021)
Type Public
ISIN JP3435000009
Industry Conglomerate
Founded 7 May 1946; 74 years ago
NihonbashiChūō, Tokyo, Japan[1]
Founders
Headquarters Sony City,

,

Japan
Area served
Worldwide
Key people
Shuzo Sumi
(Chairman of the board)
Kazuo Matsunaga
(Vice Chairman of the board)
Kenichiro Yoshida
(Chairman, President & CEO)
Shigeki Ishizuka
(Vice Chairman)
Products
Services
Revenue Decrease ¥8.259 trillion
($80 billion) (2020)[2]
Increase ¥894.2 billion (2019)[3]
Increase ¥916.2 billion (2019)[3]
Total assets Increase ¥23.039 trillion (2020)[2]
Total equity Increase ¥3.746 trillion (2019)[3]
Number of employees
111,700 (2021)[4]
Divisions
  • Game & Network Services
  • Music
  • Pictures
  • Electronics Products & Solutions
  • Imaging & Sensing Solutions
  • Financial Services
  • Others[5]
Subsidiaries See list of subsidiaries
Website www.sony.com

Tokyo Tsushin Kogyo

Sony began in the wake of World War II. In 1946, Masaru Ibuka started an electronics shop in Shirokiya,[17] a department store building in the Nihonbashi area of Tokyo. The company started with a capital of ¥190,000[18] and a total of eight employees.[19] On 7 May 1946, Ibuka was joined by Akio Morita to establish a company called Tokyo Tsushin Kogyo (東京通信工業Tōkyō Tsūshin Kōgyō) (Tokyo Telecommunications Engineering Corporation).[20] The company built Japan’s first tape recorder, called the Type-G.[20][21] In 1958, the company changed its name to “Sony”.[22]

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.[20] 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.[23]

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.[24] 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.[24]

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.[25]

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.[20]

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