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Sony Corporation's (SNE) Q4 2015 Results - Earnings Call Transcript

Q4 2015 Results Earnings Conference Call

April 28, 2016, 09:00 AM ET


Justin Hill - General Manager of IR

Kenichiro Yoshida - Executive Deputy President and CFO

Kazuhiko Takeda - Corporate Executive, Corporate Planning, Control and Accounting

Atsuko Murakami - Vice President, Senior General Manager, Finance Department

Steven Kober - EVP and CFO, Sony Corporation, North America


John Litschke - TIAA


Welcome to the Sony Corporation Conference Call for Overseas Investors for the Fiscal Year Ended March 31, 2016. My name is John, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference is being recorded.

I will now turn the call over to your host, Justin Hill.

Justin Hill

Good morning, good afternoon and good evening. Thank you all for joining us today, April 28, 2016 for a discussion of Sony's results for the fiscal year ended March 31, 2016. We hope you enjoyed our whole music songs from the Arc of Life by Yo-Yo Ma & Kathryn Stott.

I am Justin Hill, General Manager of Investor Relations at Sony Corporation. Tonight, here in Tokyo, I am joined by Kenichiro Yoshida, Executive Deputy President and CFO of Sony Corporation; Kazuhiko Takeda; Kazuhiko Takeda, Corporate Executive, Corporate Planning and Control and Accounting; Atsuko Murakami, Vice President, Senior General Manager, Finance Department; and Steven Kober, Executive Vice President and CFO, Sony Corporation, North America.

In just a few moments, Yoshida-san will make some short remarks, then Takeda-san will provide you an explanation of our results and forecast. After that, we will take your questions.

Please be aware that during the following remarks and Q&A, statements made with respect to Sony's current plans, estimates, strategies, press release and other statements that are not historical facts are forward-looking statements about the future performance of Sony. These statements are based on management's assumptions in light of the information currently available to it, and therefore, you should not place undue reliance on them.

Sony cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements. For additional information as to risks and uncertainties as well as other factors that could cause actual results to differ, please refer to today's press release which can be accessed by visiting

Let me remind you that a webcast replay of the investor meetings, which we held earlier today along with the slides presented at that meeting and our detailed earnings release, are available on our website for your access. From this quarter we have also made available on the website, a written translation of the speech, Yoshida-san made in Japanese at that Investor meeting earlier today.

I will now turn things over to Yoshida-san.

Kenichiro Yoshida

Thank you, Justin.

Today I want to speak for a few minutes about three topics. First, the impact of the earthquakes in Kumamoto. Second, the reason why we have not issued forecast for our five electronic segments today. Third, is a summary of our consolidated results for the fiscal year ended March 31, 2016. I would ask Takeda-san to explain the results and forecast for our business segment.

First, let me say that we extend our deepest sympathies to all those affected by the earthquakes in Kumamoto and Oita. Although some of Sony's employees and their families are living in evacuation centers, we have confirmed the safety of everyone.

Sony has four semiconductor manufacturing facilities in Kyusyu. Immediately following the earthquakes, we temporarily suspended operations at three of them, but we quickly restarted production at two of the three. Currently one of the four facilities has yet to restart operations, Kumamoto Technology Center or Kumamoto TEC.