Sony Corporation is a multinational conglomerate founded in 1946 in Tokyo, Japan by Masaru Ibuka and Akio Morita. Sony is a leading manufacturer of electronics, video, communications equipment, and information technology. In the 1950s, Morita pushed for global expansion, establishing offices in New York, Hong Kong, and Zurich. By 1960, Sony Corporation of America was established. Sony has followed a strategy of being first to market with innovations and rapid product development, committing 10% of revenues to R&D.