Sony to own Sony Music Entertainment

Sony Corp. Chairman Norio Ohga (L) and President Nobuyuki Idei hold a press conference March 9 to announce the company will turn Sony Music Entertainment (Japan) Inc. and two other majority-owned units into wholly owned subsidiaries by 2000. The two other subsidiaries are Sony Chemicals Corp., which produces magnetic recording tapes, and Sony Precision Technology Inc., which builds machine tools. Sony holds around 70% of each of the three subsidiaries. ==Kyodo

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