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Info from Sony -
Notice for SDXC/microSDXC memory card and exFAT format used with Sony Reader.
Please be informed that Sony Reader does not support SDXC/microSDXC memory cards (*1), and exFAT format.
When exFAT formatted memory card (*2) is inserted in the memory card slot of an applicable model, your data in the memory card will be damaged. Please be sure not to use exFAT formatted memory cards.
(*1) SDXC/microSDXC memory cards are preset to exFAT format at the point of purchase.
(*2) Besides SDXC/microSDXC memory card, Sony Reader does not support other memory cards and other recording media that are formatted with exFAT.
So this means, you can use either NFTS or FAT format, right?