Friday, January 9, 2009

Akio Morita

Morita's family was involved in sake, miso and soy sauce production in Chita Peninsula, Aichi Prefecture since 1665. He was oldest of four siblings and his father Kyuzaemon trained him as a child to take over the family business. Akio, however, found his true calling in mathematics and physics, and in 1944 he graduated from Osaka Imperial University with a degree in physics. He later joined the navy and served as a lieutenant during World War II. During his service, Morita met his future partner Masaru Ibuka in the Navy's Wartime Research Committee.

Sony

On May 7, 1946, Morita and Ibuka founded Tokyo Tsushin Kogyo Kabushiki Kaisha (Tokyo Telecommunications Engineering Corporation, the forerunner to Sony Corporation) with about 20 employees and initial capital of ¥190,000. Ibuka was 38 years old, Morita 25. Morita's family invested in Sony during the early period and was the largest shareholder.

In 1949, the company developed magnetic recording tape and in 1950, sold the first tape recorder in Japan. In 1957, it produced a pocket-sized radio (the first to be fully-transistorized) and in 1958 Morita and Ibuka made the decision to rename their company Sony (sonus is Latin for sound, and Sonny-boys is Japanese slang for "whiz kids"). Morita was an advocate for all the products made by the Sony Corporation. He helped sell his new radio by claiming that it was "pocket sized" and had the ability to fit in a normal shirt pocket. However, the radio was slightly too big to fit in a shirt pocket, so Morita made his business men wear shirts with slightly larger pockets giving the radio a "pocket sized" appearance. In 1960 it produced the first transistor television in the world. In 1979 the Walkman was introduced, making it the world's first portable music player. In 1984 Sony launched the Discman series which extended their Walkman brand to portable CD products.

In 1960, the Sony Corporation of America was established in the United States. In 1961, the Sony Corporation of America was the first Japanese company to be listed on the New York Stock Exchange. Sony bought Columbia Records and other CBS labels in 1988 and Columbia Pictures in 1989.

On November 25, 1994, Morita announced his resignation as Sony chairman, after suffering a cerebral hemorrhage while playing tennis. His successor, Norio Ohga, had joined the company after sending Morita a letter denouncing the poor quality of the company's tape recorders.