Dubai fund body with big Sony stake hires Idei

Nobuyuki Idei, former chairman and chief executive officer of Sony Corp., has been hired by a Dubai investment firm that bought a significant stake in the electronics giant earlier this week, his consultancy firm said Thursday.

Idei became a member of the Advisory Board of Global Strategic Equities Fund LP, an equity fund sponsored by Dubai International Capital LLC, which is affiliated with the government of the United Arab Emirates.

A spokesman at the consultancy firm, Quantum Leaps Corp., said Idei "did not hear anything about the investment in advance, nor did he take any role in the investment."

Idei's position is mainly responsible for providing advice to the fund on business ideas, especially those in connection with the Asian region, not giving tips on what to do with the investment in Sony, he said.

The new advisory board, to be chaired by Dubai International Chairman Sameer Al Ansari, has no management rights of the fund, established last February to make investments in leading global companies.

"I am honored to be part of GSEF's Advisory Board," Idei said in a statement. "Using my experience and network gained during my years as head of Sony and vice chairman of Nippon Keidanren (Japan Business Federation), I hope to contribute not only to GSEF's global development, but also to the betterment of Japanese business ties in Dubai and the Middle East."

In addition to Idei, Helmut Panke, a former chairman of BMW AG, and Jean-Pierre Garnier, CEO of GlaxoSmithKline PLC, have been named to the board.

Dubai International said Monday it made a "substantial investment" in Sony.

It declined to reveal the size of the stake, but it is believed to be less than 5 percent, as a holding larger than that level would have to be information disclosed under Japanese regulations.

It was Dubai International's first investment in a Japanese company.

Global Strategic has invested in HSBC Holdings PLC and European Aeronautic Defence and Space Company EADS N.V., the parent company of Airbus, according to the management consultancy firm.

Idei, who held Sony's top position until 2005, set up Quantum Leaps in Tokyo in 2006, aiming to sharpen Japan's global competitiveness and foster technology-driven venture companies.