Sony Announces Appointment of Temporary Independent Auditor.Tokyo, Japan, July 3, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Sony Corporation would like to announce that the Audit Committee met today and passed a resolution appointing a temporary independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. in accordance with the Company Law Article 346-4 and 346-7, for Japanese law Japanese law Law as it has developed in Japan as a consequence of the combination of two cultural and legal traditions, one indigenous Japanese, the other Western. In the 8th century Japan borrowed and adapted the legal system of the Chinese Tang dynasty. purposes. ChuoAoyama accounting firm was suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. from auditing for purposes of the Japanese legislative audit (note: SEC audit based on the U.S.GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). is excluded.) by order of the Financial Services Agency The Financial Services Agency is a Japanese government organization responsible for overseeing banking, securities and exchange, and insurance in order to ensure the stability of the financial system of Japan. The agency reports to the Minister of Financial Services. for the period July 1, 2006 to August 31, 2006. Accordingly, they have lost the status and resigned from being Sony's independent auditor for the Japanese legislative audit. We have appointed "PricewaterhouseCoopers Aarata" as our temporary independent auditor to avoid the absence of an independent auditor under the Company Law for that period. Outgoing Independent Auditor Name: ChuoAoyama PricewaterhouseCoopers Address: 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo Incoming Independent Auditor Name: PricewaterhouseCoopers Aarata Address: 1-8-3, Shimbashi, Minato-ku, Tokyo Date of Engagement July 3, 2006 About Sony Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of approximately $67 billion for the fiscal year ended March 31, 2005. Sony Global Web Site: Sony Global Web Site: http://www.sony.net Source: Sony Contact: Sony Corporation Gerald Cavanagh Gerald.Cavanagh@jp.sony.com Tel: +81-3-5448-2200 Fax: +81-3-5448-3061 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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