Sony is committed to strong corporate governance. As a part of this effort, in 2003, Sony adopted the "Company with Committees" corporate governance system under the Companies Act of Japan. In addition to complying with the requirements of applicable governance laws and regulations, Sony has introduced its own requirements to help improve the soundness and transparency of its governance by strengthening the separation of the Directors' function from that of management and advancing the proper functioning of the statutory committees. Under Sony's system, the Board of Directors defines the respective areas for which each of the Corporate Executive Officers is responsible and delegates to them decision-making authority to manage the business, thereby promoting the prompt and efficient management of the Sony Group.