Sony Corp was established in Japan in May 7, 1946 as Tokyo Tsushin Kogyo Kabushiki Kaisha, a joint stock company under Japanese law. In January 1958, it changed its name to Sony Kabushiki Kaisha. The Company is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets as well as game consoles and software. It is also engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs. It is also involved in various financial services businesses, including life and non-life insurance operations through its Japanese insurance subsidiaries and banking operations through a Japanese Internet-based banking subsidiary. In addition, the Company is engaged in a network services business and an advertising agency business in Japan. Its products and services are divided into the following categories: Mobile Products & Communications, Game, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services, and All Other. The Company provides repair and servicing functions in the areas where its electronics products are sold. It provides these services through its own call centers, service centers, factories, authorized independent service centers, authorized servicing dealers and subsidiaries. The Company has a number of Japanese and foreign patents relating to its products. In each of its principal product lines and services, the Company encounters intense competition throughout the world. The Company's business operations are subject to various governmental regulations in different countries in which it operates.