Sony Announces Closing of the Agreement to Start a Logistics Joint Venture

April 1, 2015

Sony Corporation

Sony Announces Closing of the Agreement to Start a Logistics Joint Venture

Sony Corporation ("Sony"), today announced that it has completed the establishment of the logistics joint venture with MITSUI-SOKO HOLDINGS Co., Ltd. as announced in the release titled "Announcing the Start of a Logistics Joint Venture" on December
22, 2014. The joint venture will be named Mitsui-Soko Supply Chain Solutions Inc., and will be operated by Sony's formerly wholly-owned subsidiary Sony Supply Chain Solutions.
As a result of this transaction, Sony expects to record approximately 13 billion yen in operating income in the first quarter of the fiscal year ending March 31, 2016, subject to certain post-closing adjustments under the definitive agreement between the parties.
This operating income includes a gain related to the re-measurement at fair value of the remaining 1,054,000 (34%) shares of Mitsui-Soko Supply Chain Solutions Inc. that Sony owns after this transaction. Going forward, Sony expects to account for
Mitsui-Soko Supply Chain Solutions Inc. as an affiliated company by the equity-method.
The subsidiaries of Mitsui-Soko Supply Chain Solutions Inc. in Malaysia and Thailand, whose names were not determined at the time of the announcement of December 22, 2014, are MS Supply Chain Solutions (Malaysia) Sdn. Bhd. and MS Supply Chain Solutions (Thailand) Ltd.

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