Sony 6-K 2014
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of November 2014
Commission File Number: 001-06439
(Translation of registrant's name into English)
1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, 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,
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-______
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.
Date: November 18, 2014
List of materials
Documents attached hereto:
i) Press release announcingFinancial Targets of the Entertainment Businesses>
November 18, 2014
Financial Targets of the Entertainment Businesses
(Tokyo, Japan – November 18, 2014) - Sony Corporation (“Sony”) today announced its financial targets for the Pictures and Music segments for the fiscal year ending March 31, 2018, as set out in the table below.
Sony also announced that it has increased its approximately 250 million U.S. dollars in targeted overhead and procurement savings in its Pictures segment that it announced in November 2013, by 50 million U.S. dollars, for a total of approximately 300 million U.S. dollars. Sony expects these annualized savings to be fully implemented by the end of the fiscal year ending March 31, 2016.
The U.S. dollar targets and forecasts in the Pictures segment are consistent with the U.S. dollar figures that Sony Pictures Entertainment consolidates from its global operations prior to reporting them to Sony Corporation in Tokyo, where they are converted into yen.
The U.S. dollar targets in the Music segment for the fiscal year ending March 31, 2018 are derived by converting Sony Music Entertainment Japan’s yen target for the segment into U.S. dollars at a rate of ¥110 = U.S. $1, which is the assumed foreign currency exchange rate for the second half of the fiscal year ending March 31, 2015 (“the current fiscal year”), and adding the product to Sony Music Entertainment and Sony / ATV Music Publishing’s U.S. dollar target for each line item.
The U.S. dollar forecasts in the Music segment for the current fiscal year are based on the yen-based forecast for this segment as announced on October 31, 2014 and are derived by converting Sony Music Entertainment Japan’s yen target for each line item into U.S. dollars at a rate of ¥106 = U.S. $1 (the average exchange rate calculated from the actual rate for the first half of the current fiscal year and the assumed rate for the second half of the current fiscal year) and adding the product to Sony Music Entertainment and Sony / ATV Music Publishing’s U.S. dollar target for each line item.
Statements made in this release with respect to Sony’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. Forward-looking statements include, but are not limited to, those statements using words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “forecast,” “estimate,” “project,” “anticipate,” “aim,” “intend,” “seek,” “may,” “might,” “could” or “should,” and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management’s assumptions, judgments and beliefs in light of the information currently available to it. Sony cautions investors that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore investors should not place undue reliance on them. Investors also should not rely on any obligation of Sony to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Sony disclaims any such obligation. Risks and uncertainties that might affect Sony include, but are not limited to:
Risks and uncertainties also include the impact of any future events with material adverse impact.