SON: Sony Corporation: Sale of certain M3 shares held by Sony Corporation

  SON: Sony Corporation: Sale of certain M3 shares held by Sony Corporation

UK Regulatory Announcement

TOKYO

February 20, 2013

Sony Corporation

Sale of certain M3 shares held by Sony Corporation

Sony Corporation (“Sony”) today announced that it has entered into a contract
to sell 95,000 shares of its 886,908 shares of M3, Inc. (“M3”), a consolidated
subsidiary of Sony, to Deutsche Securities Inc.

1. Purpose of the sale

As part of its initiative to transform its business portfolio and reorganize
its assets, Sony entered into a contract of sale that it expects will result
in an increase to the liquidity of the market for M3’s shares and help to
assure the independence and neutrality of M3’s management. While following the
sale, M3 will no longer be consolidated by Sony, Sony will remain a major
shareholder of M3 and will continue to pursue opportunities to collaborate
with M3 in the business areas, including medical.

2.Summary of M3                   
Trade name                          M3, Inc.
Address of head office              Akasaka 1-11-44, Minato-ku, Tokyo, Japan
Name and title of representative    Itaru Tanimura, President and
                                      Representative Director
Business                            Medical-related services through the use
                                      of the Internet
Stated capital                      1,334 million yen
Date of establishment               September 29, 2000
Number of employees (stand-alone)   130 (as of March 31, 2012)
Number of shares issued and         1,588,854 shares (as of February 19,
outstanding                           2013)
                                   
3.Summary of the buyer
Trade name                          Deutsche Securities Inc.
Address of head office              Sanno Park Tower, Nagatacho 2-11-1,
                                      Chiyoda-ku, Tokyo, Japan
Name and title of representative    David Hatt, President & CEO
Business                            Financial instruments business
Stated capital                      72,728 million yen
Date of establishment               July 21, 2005
                                      
4.Number of shares to be sold and number of shares to be held by Sony
before/after the sale
                                      886,908 shares
Number of shares held by Sony
before                              (Number of voting rights: 886,908)
the sale
                                      (Shareholding ratio: 55.8%)
                                      95,000 shares

Number of shares to be sold         (Number of voting rights: 95,000)

                                      (Shareholding ratio: 6.0%)
                                      791,908 shares
Number of shares to be held by
Sony                                (Number of voting rights: 791,908)
after the sale
                                      (Shareholding ratio: 49.8%)
                                      
5.Schedule
Execution of a contract of sale     February 20, 2013
Closing of the sale (Expected)      February 25, 2013
                                      

6. Outlook

Although the impact of the sale continues to be evaluated, Sony expects to
record a gain within operating income in connection with the sale of
approximately 115 billion yen during the fourth quarter for the current fiscal
year ending March 31, 2013. The gain substantially relates to the
remeasurement at fair value of the remaining 791,908 M3 shares (49.8% of the
issued and outstanding shares of M3) that Sony owns after the sale. Going
forward, Sony expects to account for M3 as an equity method investment. As
stated on February 7, 2013 in the announcement of Sony’s forecast for
consolidated financial results for the fiscal year ending March 31, 2013, Sony
has identified certain assets for possible sale as part of an initiative to
transform its business portfolio and reorganize its assets. This sale was
conducted as a part of that initiative. While this sale was anticipated and
the potential gain on remeasurement was taken into account at the time of the
forecast, Sony is currently reevaluating the aggregate impact of this sale and
other factors on the forecast.

                                                               End of document

Contact:

Sony Corporation