On January 26, 1921 the city of Nagoya saw the birth of Akio Morita, who was destined to change Japan's image. He excelled as a business tycoon and became a billionaire who revitalized the electronics industry as never before. Later on he became the talk of the world by establishing Sony America Corporation. He was born to a family of sake brewers. The business ran in the family for nearly 13 generations. His father, Kyuzaemon, wanted Akio to get into the family business. As a preparatory step, he was made to sit in company meetings and other official proceedings. His family always stood by him, which in turn supported and nurtured the genius in Akio. A broad minded family background brought the western culture closer and cleared off the misconceptions about it. His mother had a fascination for western classical music because of which children in the family enjoyed western music at an early age. As a public personality, he signed an autograph book with the initials A. K. M. for Akio Kyuzaemon Morita. Kyuzaemon was the traditional name taken by the Morita family. Akio Morita would have been Kyuzaemon XV if he had followed the traditional custom.
Blessed with a keen sense of observation and a sharp mind, science became his favorite subject. His playtime elapsed with electronic gadgets. But unlike other kids he became serious with his hobby and made it his profession. As a student, mathematics and physics were his favorite subjects. After graduating from High School Number Eight, Akio entered the physics department at Osaka Imperial University. In 1944, Akio had become a Navy Lieutenant after passing out from Osaka Imperial University. The same year he met his future business partner, Masaru Ibuka for the first time in the Navy's Wartime Research Committee.
First Business Venture
During his first visit back home in Nagoya after the war, Akio was invited to join the faculty of the Tokyo Institute of Technology. Morita decided to leave Nagoya for Tokyo when he saw an article about a laboratory founded by Ibuka. The article appeared in the Asahi newspaper column called "Blue Pencil." Ibuka had founded Tokyo Telecommunication Research Institute, which marked a new beginning. Morita negotiated a deal with Ibuka in Tokyo and a joint venture was started. On May 7, 1946 Ibuka and Akio founded Tokyo Tsushin Kogyo K. K. (Tokyo Telecommunications Engineering Corporation). The company had 20 employees and it was invested with an initial capital of 190,000 Yens. Ibuka was 38 years old and Akio 25. The two made a perfect duo - Ibuka with a profound knowledge in engineering, concentrated on technological research and the charisma of Akio was instrumental in the fields of marketing, finance and human resources. He took the lead in the managerial activities of the company.
Birth Of SONY
'Sony', the brainchild of Akio Morita speaks volumes about his global approach towards business. He well knew that Japanese goods will not be saleable unless and until they are marketed properly. Before selecting the name, Akio made extensive studies in the western and eastern cultures. He wanted a name, which was short, catchy, and understood globally. Sony was derived from the Latin word "Sonus" meaning sound. Tokyo Tsushi Kogyo was already a known name in Japan but not internationally. Akio Morita's decision to change his corporate name to Sony in 1958 ignited a success story for decades to come.
In 1960, Akio established the Sony Corporation of America, which defined quality and style. He didn't want to just survive in the market or do well, but he wanted to create a name and goodwill for the brand. Every Sony product was backed by Akio's vision with an aim to be customer-friendly. Affordability was an important factor according to Akio. Industries and corporations may produce wonder products but what the important thing is, it should be available at an affordable price.
Many times he slashed prices of products just to get close to the customer. Sony took mammoth proportions with the invention of Walkman, which was a worldwide hit in 1979.
Another path breaking view of Akio was, "Never to rely on local sales agents, company's own distribution network is necessary." In order to know more about the American market sentiments he moved with family to America in 1963. They lived in an apartment sublet by the violinist Nathan Milsten on Manhattan's upper east side for over a year.
Being a Japanese never hindered his socializing and making friends. He had a list of over 6,000 friends in his PC at the Sony office. The list covered high profile individuals like former US secretary of state Henry Kissinger and former British Prime Minister Margaret Thatcher. American print and mass media eulogized him as the symbol of a strong and progressive Japan.
American business community came closer to Akio and worked with him at all costs for their own upgradation. He was the only Japanese on the international advisory board of Pan America, IBM and Morgan Guaranty Trust. He started many joint ventures with a wide spectrum of business giants of America. In the 70's and 80's. CBS / Sony, Texas Instruments Japan, Sony Prudential Life Insurance and other joint ventures were beneficial for Sony. Akio became a high profile ambassador for Japan in the developed world.
In 1970, Sony became the first Japanese firm listed in the New York Stock Exchange. Now, the growth of Sony was more visible and widespread. After nine years, in 1979, Sony entered the financial market in partnership with Prudential Insurance Corporation. Akio Morita became chairman of the board in Sony Corporation in 1989. All these years at the helm, he saw a speedy change in the world and most importantly he had foresighted it all. In the 90s, he took the task of reforming Japan. Posing as the best known Japanese citizen in the world, he helped Japanese investors a lot.
Destiny had different designs for him. He suffered a stroke in 1993, which deprived him of speech and confined him to a wheel chair. This great saga of life with eventful years and dizzy heights of success came to an end on October 3, 1999. He died of pneumonia in Tokyo at the age of 78. He is survived by his wife Yoshiko, two sons and a daughter.
AKIO MORITA
Akio Morita, the Guru of electronics industry became a name to reckon within the business world by establishing Sony, the never-ending success story of the century. Japanese by birth, he was a power packed punch, by the Orient to the Western World. He marked the advent of miniaturized and quality electronic products, which became a fad globally. The smallest music system ever made - the Walkman, was his brainchild. He brought momentous changes in the world of electronics through Sony. Being a giant in the electronics market, Sony's profits have equaled national incomes of some third world countries!
Being a true nationalist, Japan and its interests were his first priority. He wanted to project "Made in Japan" as the benchmark of quality and competitiveness. He bridged the gulf between Japan and the rest of the world. He came to be known for his nationalistic zeal and marvelous business acumen.
His universal appeal and ingenuity made him a world citizen in the true sense of the term. He became one of the most influential personalities of the century. He was included in Time magazine's top businessmen of the 20th century.
January 26, 1921
Born in Nagoya, Japan.
1944 Graduated from Osaka Imperial University, Physics department.
1946 Established Tokyo Telecommunications Engineering Corporation with Ibuka Masaru.
1955 Tokyo Telecom introduced Japan's first transistor radio.
1958 Company changed its name to Sony.
1960 Sony introduced the World's first transistor, TV. Established US unit.
1961 Listed shares in New York Stock Exchange.
1968 Sony started CBS / Sony music record venture.
1975 Introduced the Betamax VCR.
1979 Walkman introduced in the market.
1993 Morita suffered a debilitating stroke.
1999 Died on October 3, in Tokyo.
• Don't be afraid to make a mistake. But make sure you don't make the same mistake twice.
• My chief job is to constantly stir or rekindle the curiosity of people that gets driven out by bureaucracy and formal schooling
• The old ways of doing things no longer apply
• If we face a recession, we should not lay off employees; the companies should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?
• Real business entails adding value to things by adding knowledge to them, but America is steadily forgetting this. That terrifies me. America no longer makes things, it only takes pleasure in making profits from moving money around
• American businessmen try to cash in immediately. They have to make money.
• If we do our best and make efforts, a peaceful and great future will become ours without fail. Whether we succeed or not depends on the strength of our resolve and the amount of our endeavor.
• America looks 10 minutes ahead; Japan looks 10 years.
1976 Medal of Honor with Blue Ribbon from H. M. the Emperor of Japan.
1982 Doctor of Law, Williams College.
1982 Directorate Award from the International Council of the National Academy of Television Arts and Sciences.
1982 The Albert Medal from the Royal Society of Arts.
1984 Officier dans l'Ordre National de la Legion d'Honneur from
the president of the French Republic.
1987 Commander's Cross of the Order of Merit of the Federal Republic
of Germany.
1987 Knight Commanders Cross First Class of the Order of Merit of the
Republic of Austria.
1988 Ordem Nacional do Cruzeiro do Sul from the Government of Brazil.
1990 Doctor of Law, University of Pennsylvania.
1990 La Gran Cruz de la Orden del Merito Civil from H. M., the king of Spain.
1991 First Class Order of the Sacred Treasure from H. M., the Emperor of Japan.
1991 International Award from The Institution of Manufacturing Engineers.
1987 Commander's Cross of the Order of Merit of the Federal Republic of Germany.
1991 Commander in the Order of Orange Nassau from H. M., the Queen of Netherlands.
1993 Honorary Knight Commander of the Most-Excellent Order of the British Empire from H. M., the Queen of England.
Doctor of Engineering, University of Illinois.
Commander of the Order of Leopold from H. H., the King of the Belgians.
1994 IEEE Founders Medal from the Institute of Electrical and Electronic
Engineers, Inc.
1996 Creu de Sant Jordi from the Government of Catalonia, Spain.
1996 Distinguished Medal of Honor from the Japanese American National Museum.
1998 Commandeur dans l'Ordre National de la Legion d'Honneur from the
President of the French Republic.
