According to Sony China announcement, at the annual shareholders meeting last Friday, the shareholders approved the proposal to change the company's name to "Sony Group" (Sony Corporation). The name change is expected to take effect in April 2021.
It is known that Sony is a multinational enterprise from Japan. The company's main businesses are in developing electronic products.
Sony was founded in 1946 by Mr. Jing Shenda and Mr. Shoda Morita. In particular, Mr. Jing Shenda has experience in technology research and development. Meanwhile, Mr. Shoda Morita has a knack for public relations and marketing. Today, Sony's headquarters are located in Sony City, Konan, Minato-ku, Tokyo.
However, this is Sony's first name change in more than 60 years and thus, this will help it gain a broader brand identity. In addition to the development of the electronics industry, the branding also set a milestone in increasing efforts in financial services and other businesses. The goal is to put other businesses on par with the electronics industry.
It was known at the time of its inception, its original name was "Tokyo Telecommunications Industry Co., Ltd.". After that, the name Sony was changed in 1958. So you can see, "Sony Group "is not the first name of the company.
Previously, analysts have said, Sony is currently constrained by the "diversified business model". In addition, investors also tend to avoid buying shares of companies with business lines such as Sony. The point is that in the past few years, some electronics corporations in Japan like Hitachi have also tried to eliminate non-core businesses.
Everything changed when the Covid-19 pandemic took place, and investors realized that Sony's diversity had brought unexpected benefits. Specifically, games, music and some entertainment business models can meet users' isolation needs, which has compensated for the loss in electronic business.
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