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Sony was founded by a former naval lieutenant named Akio Morita and a defense contractor named Masaru Ibuka. Morita, a weapons researcher, first met Ibuka during World War II while developing a heat-seeking missile-guidance system and a night-vision gun scope. After the war Ibuka worked as a radio repairman for a bomb-damaged Tokyo department store. Morita found him again when he read in a newspaper that Ibuka had invented a shortwave converter. In May of 1946 the two men established a partnership with $500 in borrowed capital, and registered their company as the Tokyo Tsushin Kogyo (Tokyo Telecommunications Engineering Corporation, or TTK). Morita and Ibuka moved their company to a crude facility on a hill in southern Tokyo where they developed its first consumer product: a rice cooker which failed commercially. In its first year TTK registered a profit of $300 on sales of less than $7,000. Percy's carries Sony LCD Flat Panel TV's, Sony Projection TV's, Sony Home Theater Products, Sony iPod Docking Stations, Sony Receivers, Sony Blu Ray Players, & Sony Additional Products.