In the diverse world of appliances, technology, electronics, a plethora of companies making their mark, today we shall discover the birth of this Japanese multinational conglomerate corporation, Sony.
Manufacturer of consumer electronics products, Sony also dived into the water of film making, music, and financial services, among other ventures.
Story of Sony
The story of Sony and its modest beginning came into existence in 1946 when Mr Masaru Ibuka and Mr Akio Morita together with a small team of a passionate and committed group of employees started to build “Tokyo Tsushin Kenkyujo” (Totsuko), or “Tokyo Telecommunications Research Institute” which further became this empire that it is today.
With the vision of growing the business worldwide, it was in 1958 that the company formally acquired “Sony Corporation” as its corporate name.
Rising Up From The Ashes
It was post-war, September 1945, Masaru Ibuka returned to Tokyo, still facing the repercussions of the war, the capital was in distress. He created his new office in a building succumbing to the after-war effects, windows broken, pipelines giving up, cracks all over the concrete walls.
The office condition started to enhance as the silicon steel boards, drilling machines and other equipment were transported from the Suzaka factory, and the personnel who had been tying up loose ends there joined the Shirokiya staff.
Building The Empire
On May 7, 1946, more than twenty management and staff attended the inauguration ceremony which officially established Tokyo Tsushin Kogyo (Totsuko). Ibuka’s father-in-law, Tamon Maeda was appointed president of the new company. In 1950 Totsuko introduced the first Japanese-designed tape recorder.
By 1960 business in the United States gave rise to the creation of Sony Corporation of America, with headquarters in New York City.
In February 2014, Sony publicized the sale of its Vaio PC division to a new corporation owned by investment fund Japan Industrial Partners, to turn the unit around from the past losses totalling $7.8 billion over a decade.
Later that month, they also stated that they would be closing 20 stores. In April, the company announced that it would be selling 9.5 million shares in Square Enix (roughly 8.2 per cent 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.
The sky is the limit
Sony became so successful, today they hold a net income of ¥1.191 trillion (2021). And a chain of industries like Formats and technologies, Video recording, music, films, computers, sony entertainment, financial services, gaming and network and so on.
Get to know about the story of Apple.