Form 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February 2006
Commission File Number: 001-06439
SONY CORPORATION
(Translation of registrant's name into English)
7-35 KITASHINAGAWA 6-CHOME, SHINAGAWA-KU, TOKYO, JAPAN
(Address of principal executive offices)
The registrant files annual reports under cover of Form 20-F.
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F,
Form 20-F X Form 40-F __
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934,
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):82-______
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SONY CORPORATION
(Registrant)
By: /s/ Nobuyuki Oneda
(Signature)
Nobuyuki Oneda
Executive Vice President and
Chief Financial Officer
Date: February 27, 2006
List of materials
Documents attached hereto:
i) Sony announces On establishing an independent business base for Sony's
retail operations
Sony Corporation
6-7-35 Kitashinagawa
Shinagawa-ku
Tokyo 141-0001
No. 06-018E
February 27, 2006
On establishing an independent business base for Sony's retail operations
In our mid-term corporate strategy plan announced on September 22, 2005, Sony
stated: "In our retail businesses, we will explore strategic alternatives to
maximize the value of the assets, including alliances with relevant partners."
Since then we have been examining various options in this regard. Sony can now
announce the formation of a holding company to cover its group of retail
businesses and that Nikko Principal Investments Japan Ltd. has been selected as
a financial partner of the holding company with 51% of the holding company's
stock to be transferred to Nikko Principal Investments Japan Ltd. Sony and Nikko
Principal Investments Japan Ltd. have reached a basic agreement to this effect.
The aim of the new holding company will be to create an independent business
base whereby the value of the retail businesses can be maximized.
The retail businesses concerned are: Sony Plaza Co., Ltd., Sony Family Club,
Inc., B&C Laboratories Inc. (including CP Cosmetics Inc.), Maxim's de Paris
Corporation, and Lifeneo Inc. These businesses span a wide range of retail
activities including sale of imported goods, mail order business, cosmetics and
restaurants. Their retail experience has allowed them to develop strong brands,
high customer traffic and a set of unique products and services.
The retail industry is in a phase of fierce price competition and structural
transition. While this climate is severe, there are also real business
opportunities as customer needs and preferences change. In order to grasp these
opportunities, we believe that this new configuration of our retail businesses
will maximize each company's originality and strength and offer customers
integrated offerings to meet their needs.
By entering into this partnership, Nikko Principal Investments Japan Ltd. has
expressed its high evaluation of our retail businesses. Sony believes that
through this agreement it has secured the ideal financial partner to create the
businesses opportunities that will drive the growth of this group of retail
businesses.
In order to support the independence of this retail business group Sony plans to
gradually reduce its stake in the holding company.
Sony will now enter into a final period of consultation with Nikko Principal
Investments Japan Ltd. with a view to transferring the 51% of the holding
company stock to Nikko Principal Investments Japan Ltd. by the end of the first
quarter of fiscal year 2006.
Company Profiles
Nikko Principal Investments Japan Ltd.
Location: Chiyoda-ku, Tokyo
Representative : CEO : Kazuyuki Kido
Established: March 15, 2000
Capital: 2,500Million Yen
Business profile: Merchant banking business, including private equity
investment
Sony Plaza Co., Ltd.
Location: Minato-ku, Tokyo
Representative: Representative Director and President: Kimio Uchida
Established: November 2, 1966
Capital: 1.2 billion yen
Business profile: Retail of imported lifestyle goods; partnerships;
Miniplaza; licensing business; original goods
Retail outlets: Sony Plaza (64); Miniplaza (2 directly managed,
19 partnerships) Serendipity (1); From Heart (1 directly
managed, 1 partnership) 19 partnerships.
Sony Family Club, Inc.
Location: Minato-ku, Tokyo
Representative: Representative Director and President: Ikuo Endo
Established: March 1971
Capital: 480 million yen
Business profile: Retailing and mail order of clothes, sports and leisure
wear, electronics products, family products, ornaments,
books, optical equipment, watches, shoes, bags etc.
Retail outlets: 5 stores
B&C Laboratories Inc.
Location: Minato-ku, Tokyo
Representative: Representative Director and President: Shigeyuki Nakajima
Established: February 1996
Capital: 480 million yen
Business profile: Development, production and sale of cosmetics, medical
appliances. Production and sale of cosmetic apparatus,
hairdressing apparatus, scientific equipment, and musical
instruments
Retail outlets: Pharmaceutical/drug distribution outlets: 6000; Variety
distribution outlets: 100; VECUA stores: 16
CP Cosmetics Inc.
Location: Minato-ku, Tokyo
Representative: Representative Director and President: Shigeyuki Nakajima
Established: January 2006
Capital: 100 million yen
Business profile: Development, production and sale of cosmetics, medical
appliances. Production and sale of cosmetic accessories,
hairdressing accessories, scientific equipment, and
musical instruments
Retail outlets: 1220 salons
Maxim's de Paris Corporation
Location: Chuo-ku, Tokyo
Representative: Representative Director and President: Hideo Kojima
Established: November 1966
Capital: 100 million yen
Business profile: Management of French restaurants and cafes, manufacture and
sales of Western confectionery
Retail outlets: 18
Lifeneo Inc.
Location: Minato-ku, Tokyo
Representative: Representative Director and President : Shigeru Sumitomo
Established: April 2005
Capital: 240 million yen
Business profile: Planning and management of health promotion facilities at
Spa, fitness centers; development and sale of related
products