ties or fees for their use and conducts its music publishing business through a joint venture with a third-party investor in countries other than Japan primarily under the Sony/ATV name. SMEJ creates artwork and produces packaged home entertainment products, including music/games, and organizes various events in Japan through Sony Music Communications Inc. SMEJ also produces, markets, and distributes animation products through Aniplex Inc. Financial Services Sony Life conducts its life insurance business primarily in Japan. Sony Life’s core business is providing death protection and other insurance products to individuals, primarily through a consulting-based sales approach utilizing its experienced team of Lifeplanner sales employees, as well as partner independent sales agents. Sony Life provides tailor-made life insurance products that are optimized for each customer. As of March 31, 2016, Sony Life employed 4,612 Lifeplanner sales employees. Sony Life maintains a service network, which mainly consists of the Lifeplanner channel and the independent agent channel in Japan. The Lifeplanner channel is characterized by strict recruitment and training of sales professionals from industries outside the life insurance industry, performance-linked compensation and its high productivity, and offers custom-made packages. Most of the agents in the independent agent channel are corporate and non-exclusive agents, centering on shop-style agents. Shop-style agents are a sub-channel of the independent agent channel, who offer insurance in local stores and provide customers with opportunities to compare various insurers’ products. To improve Sony Life’s relationship with independent agents, Sony Life’s agent support staff provides independent agents with various support services, including recruiting, training and sales promotion activities. As part of its plan to expand its sales of individual annuity products, Sony Life established a Japanese joint venture company with AEGON N.V. The 50-50 joint venture is known as AEGON Sony Life Insurance Co., Ltd. Sony Assurance conducts a non-life insurance business in Japan. Sony Assurance’s core business is providing automobile insurance products and medical and cancer insurance products to individual customers, primarily through direct marketing via the Internet and the telephone. As an Internet bank focusing on the asset management and borrowing needs of individual customers, Sony Bank offers a range of products and services, including yen and foreign currency deposits, investment trusts and mortgages. By using Sony Bank’s transaction channel, the ‘MONEYKit’ service Website, account holders could invest and manage assets through the Internet according to their life plans. Sony Bank owns the company’s 57 percent equity interest in Sony Payment Services Inc. (Sony Payment Services). Sony Payment Services is a major provider of credit card settlement services to members of its Internet network. All Other Sony DADC group offers Blu-ray Disc, DVD and CD media replication services, as well as digital and physical supply chain solutions to business customers in the entertainment, education, and information industries. Government Regulations In Japan, the company’s insurance businesses are subject to the Insurance Business Act and approvals and oversight from the Financial Services Agency (FSA). Sony Bank is also subject to regulation by the FSA under the Banking Act of Japan. The company’s subsidiaries in the Financial Services segment are subject to the Japanese Insurance Business Act and Banking Act that require insurance and business companies to maintain their financial credibility and to secure protection for policyholders and depositors in view of the public importance of insurance and banking services. In addition, the company’s telecommunication businesses in Japan are subject to approvals and oversight from the Ministry of Internal Affairs and Communications, under the Telecommunications Business Act and other regulations related to the Internet businesses and communication methods in Japan. In Europe, the company is required to comply with various en
sony corp (6758:Tokyo Stock Exchange)
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