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COMM225: PR Writing

Rohan GUPTA Darren TAY Teck Yong Melissa LAW Shueh Li Siti Zuhairah Binte MUSTAFA KAMAL Wijesuriya Arachchilage Dhanushka Sanjeewa Wijesuriya

What is the What is our How will we Questions? situation? stand? deal with it?

Sonys corporate reputation is under threat

Japanese corporate culture has been accused of being incompatible with good corporate governance

Perception catalysed by the uncovered accounting fraud at Olympus

A looming threat

What is the What is our How will we Questions? situation? stand? deal with it?

Japan's corporate culture of denial, of ignoring problems and letting them fester, keeps running up against a globalised world that values agility, innovation and transparency. Olympus demonstrates all too painfully how much Old Japan tolerates a lack of accountability among senior executives, inadequate disclosure, a disinclination to challenge authority and absolute deference to corporate boards. - William Pesek, Bloomberg columnist
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What is the What is our How will we Questions? situation? stand? deal with it?

Foreign Investor Confidence

Value destruction
Reforms were undertaken to strengthen corporate governance Allegations create a gap between reality and perception

Leading to a loss of foreign investment

Leading to a loss of business freedom

Implications
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What is the What is our How will we Questions? situation? stand? deal with it?

Japanese corporate The vast majority of culture is not Japanese corporations are incompatible with good upright and honest corporate governance

Sonys Position
Sony has always been above board Sony consistently goes beyond legal prescriptions in corporate governance

What is the What is our How will we Questions? situation? stand? deal with it?

Key news media

Foreign investors

Key politicians and regulators

Action Plan
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What is the What is our How will we Questions? situation? stand? deal with it?
Foreign investors
have good information to maintain confidence in the company

Key news media


understand the issue and provide moderate and balanced coverage

Politicians and regulators accept


that increased regulation is not warranted

To demonstrate Sonys sound corporate governance to relieve regulatory pressure and

prevent a fall in investment

Source: Jaques, T. (2000) Dont Just Stand There: The Do-It Plan for Effective Issue Management. pp. 121-133
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Action Plan

What is the What is our How will we Questions? situation? stand? deal with it?
Identify journalists who have written about this issue Identify potential corporations for joint action

Draft press statement and Q&A

Organise joint press conference

Brief specialist writers on our position

Coordinate joint response to the issue

Commission detailed media monitoring and analysis

Engaging the Media


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What is the What is our How will we Questions? situation? stand? deal with it?
Surveys, Focus Groups

Determine information investors want

Open dialogue session with institutional and individual investors

Develop investors information pack

Reassuring Foreign Investors


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What is the What is our How will we Questions? situation? stand? deal with it?
Develop information pack; conduct open dialogue

Identify academic to help with lobby materials

Develop joint response to opposing views

External review of the impact of increased regulation in overseas jurisdictions

Identify key politicians/regulators

Develop full submission

Incorporate results of E&Ys audit report

Rallying Regulators Support


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Begin detailed media monitoring Identify journalists Prepare press materials Identify corporations for joint action Explore options for assessing investor sentiment Identify key politicians/regulators
10 Apr 5 Apr Begin review of the impact of increased regulations 15 Apr

Develop investors information pack Brief specialist writers Develop response position 20 Apr 27 Apr Organise joint press conference 30 Apr

NOW

Coordinate joint corporations response

Develop information pack for regulators

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Timeline (Apr)

Identify experts to help prepare lobby material 9 May 7 May

Develop full submission for regulators

25 May

Conduct open dialogue with institutional and individual investors

Timeline (May)
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What is the What is our How will we Questions? situation? stand? deal with it?

Senior managers main resource and handbook


Negative perceptions of Japanese corporate culture may lead to increased regulations or reduced foreign investment Sony has always been at the forefront of corporate governance reform in Japan

It was the lack of compliance on the part of a few rogue managers that led to the fraud at Olympus

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Position Paper

What is the What is our How will we Questions? situation? stand? deal with it?

Gives a formal statement of Sonys stand on the issue


Conclusions from the Olympus third party investigation report have been taken out of context The situation at Olympus does not indicate a general problem with Japans corporate culture

Japanese corporations need to take a proactive approach to managing such negative perceptions

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Media Statement

What is the What is our How will we Questions? situation? stand? deal with it?

To introduce Kazuo Hirai as the new President and CEO


Hirais role involves expanding Sonys portfolio and overseeing the companys corporate governance

Hirai has amassed over two decades of experience at Sony

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Biography

What is the What is our How will we Questions? situation? stand? deal with it?

Serves as a reference for responding to external stakeholders questions


Sony has sound corporate governance practices in place Further regulation is unnecessary because the corporate governance system in Japan is sound

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Q&A

What is the What is our How will we Questions? situation? stand? deal with it?

To rally the support of the Board to act on this issue


Allegations that Japans corporate governance is incompatible with good corporate governance are inaccurate If this issue not managed, increased regulation and a decrease in investments may result

Sony needs to address the media, foreign investors and key regulators proactively

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Speech Notes

What is the What is our How will we Questions? situation? stand? deal with it?

Serves as supplementary information on Sonys corporate governance history


Since the 1970s, Sony has modeled itself on the USstyle governance system and has been listed on the New York Stock Exchange (NYSE)
Ernst & Youngs audit has shown that Sony has a sound and effective corporate governance system

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Backgrounder

What is the What is our How will we Questions? situation? stand? deal with it?
External Legal Review: 8,400,000 Primary Research: 16,700,000 (US$200,000) (US$100,000)

External Media Monitoring: 2,500,000 (US$30,000)

Venue Costs: 2,010,000 (US$24,000)

Estimated Cost: 30,450,000 (US$364,000)

Academic Expert: 840,000 (US$10,000)

Budget
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What is the What is our How will we Questions? situation? stand? deal with it?

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