Morita also demonstrated his ability to break away from conventional thinking in the financial area, when Sony issued American Depositary Receipts in the U.S. in 1961. It was the first time that a Japanese company had offered shares on the New York Stock Exchange, and this enabled the company to raise capital not just in Japan. Sony paved the way for Japanese companies to raise foreign capital, at a time when the common practice of Japanese management was to borrow funds from banks.