Sony Corporation of America

Press Release
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AKIO MORITA: 1921 - 1999
Tokyo, Japan - October 3, 1999 -- It is with great sadness that Sony Corporation today announced the loss of Akio Morita, Founder and Honorary Chairman, Sony Corporation. Mr. Morita passed away this morning at 10.25, at the Tokyo Saiseikai Central Hospital. The cause of death was pneumonia. Mr. Morita was 78 years old. He is survived by his wife Yoshiko, sons Hideo and Masao, daughter Naoko.

A private wake will be held on Monday, October 4, from 18.30 to 21.30, and a private funeral service will take place on Tuesday, October 5, from 12.00 to 15.00. Both the wake and funeral will take place at the Morita family home, Aobadai 2-5-6, Meguro, Tokyo. The Chief Mourner will be Mr. Morita's eldest son, Hideo Morita, President and CEO of Raykay Inc.

A public funeral will take place at a later date, to be announced by Sony Corporation.

Commenting on today's loss, Sony Corporation Chairman Norio Ohga said, "My shock at the loss of Akio Morita is beyond description. I first met Morita-san when I was a university student in Japan in 1951. Along with the late Masaru Ibuka, Mr. Morita talked to me kindly, even though I was just a student at the time. Years later, while I studied music in Europe, I had the opportunity to travel with Mr. Morita to the U.S. That is when he ardently persuaded me to join Sony, by saying, 'You were born to be a businessman.' I remember the day as if it were only yesterday."

From the rubble of post-war Japan, Mr. Morita, together with Mr. Ibuka, founded Sony with just over 20 people, and for over 40 years, they managed and shaped the direction of the company. With his boundless curiosity and brilliant foresight, he was a constant source of inspiration for us all. He continued to face up to the challenges posed by a new era. He lived in New York together with his family, and from there he traveled around the world to promote Sony and create new markets overseas.

It can be said that Mr. Morita's distinguished global perspective was cultivated from his experiences living in the U.S. and visiting many countries, and from his numerous friendships with political and industrial leaders worldwide. He had a cheerful personality, and would always bring joy to people together with his family. He had a special magnetism that naturally drew people toward him.

Although we have lost Mr. Morita, two years after the loss of Mr. Ibuka, they will both remain in our hearts as our spiritual support. We must make sure that the vision and values these two great men have left us will continue to permeate in all of Sony's roots.

Sony Corporation President and CEO Nobuyuki Idei added, "I feel a great sense of sorrow and grief at the passing away of Akio Morita. Having been reared by Mr. Ibuka and Mr. Morita ever since joining Sony, I always viewed Morita-san as my hero. Mr. Morita gave Tokyo Tsushin Kogyo the brand and created its soul. Without the Sony brand, Sony would not have become the global company that it is today."

Mr. Morita was a remarkable communicator, which is an exceptional trait for a Japanese, and he captivated the attention of everyone he came into contact with. In addition, he considered it his life's work to promote a better mutual understanding between Japan and the rest of the world. He went out of his way to help ease economic frictions between the U.S. and Japan, and strove for the realization of a fair society for companies to compete in. It is not an exaggeration to say that he was the "face of Japan."

Mr. Ibuka and Mr. Morita together laid out and nurtured Sony's corporate philosophy of freedom and open-mindedness, and the spirit of always taking on new challenges. This is our foundation, and at Sony we will strive to pass it on to future generations as our invaluable asset.