Form 6-K

                             WASHINGTON, D. C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER

                      Pursuant to Rule 13a-16 or 15d-16 of

                       the Securities Exchange Act of 1934

                         For the month of April 2005
                        Commission File Number: 001-06439

                                SONY CORPORATION
                 (Translation of registrant's name into English)


                    (Address of principal executive offices)

          The registrant files annual reports under cover of Form 20-F.

Indicate by check mark whether the registrant  files or will file annual reports
under cover of Form 20-F or Form 40-F,

                  Form 20-F  X                   Form 40-F __

Indicate by check mark whether the  registrant  by  furnishing  the  information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934,
Yes No X

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):82-______


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                                            SONY CORPORATION

                                         By:  /s/  Katsumi Ihara    

                                             Katsumi Ihara
                                             Executive Deputy President, 
                                             Group Chief Strategy Officer and
                                             Chief Financial Officer

Date: April 26, 2005

List of materials

Documents attached hereto:

i) Press Release announcing Change in Capital Policy Related to Subsidiary 
   Tracking Stock

                                                              Sony Corporation
                                            6-7-35 Kitashinagawa, Shinagawa-ku
                                                         Tokyo, 141-0001 Japan
                                                                   No.05 -023E
                                                                April 26, 2005

Change in Capital Policy Related to Subsidiary Tracking Stock

Sony Corporation ("Sony") decided at a meeting of its Board of Directors held
today to consider the possibility of an IPO of common stock of Sony
Communication Network Corporation ("SCN"). In relation, it was also decided that
the following be Sony's revised policy regarding Sony's subsidiary tracking
stock ("TS") which is currently listed on the Tokyo Stock Exchange.

As part of Sony Group's business strategy aiming at the successful growth of
SCN, in June 2001 Sony issued TS, the economic value of which is intended to be
linked with SCN's economic value, to enhance SCN's enterprise value by realizing
such value in the marketplace while holding 100% of SCN's voting rights. Now,
responding to recent drastic changes in the internet-related industry, Sony
believes that it will be desirable for Sony and the Sony Group as well as for
SCN to seek the enhancement of SCN's enterprise value through SCN's own business
operation and strategy more independently from the Sony Group. Therefore, Sony
decided to change its policy and to consider the possibility of an IPO of SCN
common stock. The primary reasons for this change are as follows:

1. Sony believes it would be more effective for SCN's further growth to expand
   its business opportunities more independently from the Sony Group and from a
   broader perspective that extends beyond the Sony Group rather than relying on
   Sony Group resources as a 100% subsidiary of Sony.

2. For that purpose, Sony believes that it is desirable for SCN to go public in
   order to raise funds with more flexibility in the capital market.

In accordance with the above revised policy, SCN will start taking action
required for or in connection with the listing of its common stock on a stock
exchange. If the listing of SCN common stock is approved by the stock exchange,
subject to required procedures, all the shares of the TS will be compulsorily
terminated pursuant to Sony's Articles of Incorporation. Sony's Articles of
Incorporation stipulate that the method of such termination may be any one of
the following: (1) compulsory retirement in cash, (2) compulsory conversion to
Sony common stock, or (3) compulsory exchange with SCN common stock. With
respect to the method of exchange with SCN common stock referred to (3) above,
although Sony's initial policy was that such method would not be taken unless
and until a tax deferment on the difference between the acquisition cost of TS
and market value of SCN common stock is allowed by tax law. While any tax law
revisions which allow such deferral have not yet been made, regardless of such
revisions, Sony has changed its policy and includes such method (compulsory
exchange with SCN common stock) as one of the options for compulsory termination
of TS.