Sony Corporation was established in 1946 as Tokyo Tsushin Kogyo K.K. in Tokyo, Japan. Over the decades, Sony expanded significantly through acquisitions and opening production plants globally. Major acquisitions included Columbia Pictures Entertainment in 1989 and CBS Records in 1988. Sony also diversified over time, entering new businesses such as music, films, financial services and more. The company has faced challenges in recent years including losses, security breaches and job cuts as it aims to strengthen its businesses and brand.