Sony Group Corporation · TSE:6758
Sony — Q3 FY2024 Earnings Presentation
31 slides from Sony's earnings presentation, Feb 13, 2025
Slide 1: Q3 FY2024 Consolidated Financial Results
Q3 FY2024 Consolidated Financial Results (Three months ended December 31, 2024) Sony Group Corporation February 13, 2025
Slide 2: Q3 FY2024 Consolidated Results
1 Q3 FY2024 Consolidated Results Average Rate 1 US dollar 147.9 yen 152.2 yen 1 Euro 159.0 yen 162.5 yen Sony without Financial Services Consolidated Q3 FY23 Q3 FY24 Change Q3 FY23 Q3 FY24 Change Sales*1 3,439.4 3,695.7 +256.3 （+7%） 3,747.5 4,409.6 +662.0 （+18%） Operating income 386.1 423.0 +36.9 （+
Slide 3: Q3 FY2024 Consolidated Results: Year-on-year Change
2 Q3 FY2024 Consolidated Results: Year-on-year Change Year-on-year Change Contributing Factors (+) Better／(-) Worse Sales +662.0 bln yen +18% ・(+) Significant increases in Financial Services, G&NS and Music segments sales On a constant currency basis*1, sales increased approximately 15% Operating in
Slide 4: Adjusted Income (Q3, Sony without Financial Services)
3 Adjusted Income*1 (Q3・Sony without Financial Services) Q3 FY23 Q3 FY24 Change from Q3 FY23 Before adjustment Non-recurring (profit) / loss*2 Adjusted Before adjustment Non-recurring (profit) / loss*2 Adjusted Before adjustment Adjusted Operating income 386.1 ー 386.1 423.0 － 423.0 +36.9 （+10%） +36.
Slide 5: Non-Recurring Profit and Loss (Sony without Financial Services)
4 Non-Recurring Profit and Loss (Sony without Financial Services) Q3 FY23 Q1-Q3 FY23 FY23 Q3 FY24 Q1-Q3 FY24 Items included in operating income (before adjustment) － +6.0 +6.0 Items included in operating income (before adjustment) － － Remeasurement gain resulting from the consolidation of a company
Slide 6: Adjusted Income (Q3, Consolidated)
5 Adjusted Income*1 (Q3・Consolidated) Q3 FY23 Q3 FY24 Change from Q3 FY23 Before adjustment Non-recurring (profit) / loss*2 Adjusted Before adjustment Non-recurring (profit) / loss*2 Adjusted Before adjustment Adjusted Operating income 463.3 － 463.3 469.3 － 469.3 +6.0 （+1%） +6.0 （+1%） Income before
Slide 7: Non-Recurring Profit and Loss (Consolidated)
6 Non-Recurring Profit and Loss (Consolidated) Q3 FY23 Q1-Q3 FY23 FY23 Q3 FY24 Q1-Q3 FY24 Items included in operating income (before adjustment) － +6.0 +25.8 Items included in operating income (before adjustment) － － Remeasurement gain resulting from the consolidation of a company previously account
Slide 8: Q3 FY2024 Results by Segment
7 Q3 FY2024 Results by Segment Q3 FY23 Q3 FY24 Change FX Impact Game & Network Services (G&NS) Sales 1,444.4 1,682.3 +237.9 +35.9 Operating income 86.1 118.1 +31.9 -2.9 Music Sales 422.1 481.7 +59.6 +10.9 Operating income 76.1 97.4 +21.3 Pictures Sales 366.3 398.2 ＋31.9 +10.6 Operating income 41.6 3
Slide 9: Q1-Q3 FY2024 Consolidated Results
8 Q1-Q3 FY2024 Consolidated Results Average Rate 1 US dollar 143.1 yen 152.4 yen 1 Euro 155.1 yen 164.7 yen Sony without Financial Services Consolidated Q1-Q3 FY23 Q1-Q3 FY24 Change Q1-Q3 FY23 Q1-Q3 FY24 Change Sales 8,454.1 9,236.6 +782.5 （+9%） 9,539.8 10,326.8 +787.0 （+8%） Operating income 831.9 1
Slide 10: Adjusted Income (Q1-Q3, Sony without Financial Services)
9 Adjusted Income* (Q1-Q3・Sony without Financial Services) Q1-Q3 FY23 Q1-Q3 FY24 Change from Q1-Q3 FY23 Before adjustment Non-recurring (profit) / loss Adjusted Before adjustment Non-recurring (profit) / loss Adjusted Before adjustment Adjusted Operating income 831.9 -6.0 825.9 1,061.4 － 1,061.4 +22
Slide 11: Adjusted Income (Q1-Q3, Consolidated)
10 Adjusted Income* (Q1-Q3・Consolidated) Q1-Q3 FY23 Q1-Q3 FY24 Change from Q1-Q3 FY23 Before adjustment Non-recurring (profit) / loss Adjusted Before adjustment Non-recurring (profit) / loss Adjusted Before adjustment Adjusted Operating income 979.4 -6.0 973.4 1,203.5 － 1,203.5 +224.1 （+23%） +230.1
Slide 12: Q1-Q3 FY2024 Results by Segment
11 Q1-Q3 FY2024 Results by Segment Q1-Q3 FY23 Q1-Q3 FY24 Change FX Impact Game & Network Services (G&NS) Sales 3,170.4 3,618.8 +448.4 +154.6 Operating income 184.2 322.1 +137.9 +2.8 Music Sales 1,189.0 1,371.9 +182.9 +64.7 Operating income 230.5 273.7 +43.2 Pictures Sales 1,086.3 1,091.4 ＋5.0 +61.8
Slide 13: FY2024 Consolidated Results Forecast
12 FY2024 Consolidated Results Forecast FY23 (Actual・Average) FY24 (Assumption) Foreign exchange rate Q3-Q4 Q4 1 US dollar 144.4 yen Approx. 146 yen Approx. 150 yen 1 Euro 156.6 yen Approx. 160 yen Approx. 158 yen Sony without Financial Services Consolidated FY23 FY24 FCT FY23 FY24 FCT November Febr
Slide 14: FY2024 Consolidated Results Forecast: Change from November Forecast
13 FY2024 Consolidated Results Forecast: Change from November Forecast Change from November forecast Contributing Factors (+) Better／(-) Worse Sales +490 bln yen +4% ・(+) Increases in Financial Services and G&NS segments sales Operating income +25 bln yen +2% ・(+) Increase in G&NS segment operating
Slide 15: FY2024 Results Forecast by Segment
14 FY2024 Results Forecast by Segment (Bln Yen) Figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors. FY23 FY24 November FCT FY24 February FCT Change from Novemb
Slide 16: Game & Network Services Segment
15 Game & Network Services Segment (G&NS Segment) Q3 FY2024 (year-on-year) Sales: 237.9 bln yen (16%) significant increase (FX Impact: +35.9 bln yen) ·(+) Increase in sales of hardware due to an increase in unit sales ·(+) Increase in sales of non-first-party game software titles including add-on co
Slide 17: Music Segment
16 Q3 FY2024 (year-on-year) Sales: 59.6 bln yen (14%) significant increase (FX Impact: +10.9 bln yen) ・(+) Higher revenues from streaming services in Recorded Music and Music Publishing ・ (+) Higher revenues from streaming services excluding the below one-time factor ・ (+) Higher revenues due to a o
Slide 18: Pictures Segment
17 Pictures Segment Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Adjusted OIBDA Operating Income FY23 FY24 November FCT FY24 February FCT Q3 FY23 Q3 FY24 1,493.1 1,510 1,510 117.7 115 115 171.2 170 170 366.3 398.2 41.6 34.0 54.6 47.1 Q3 FY2024 (year-on-year) The following analysis is o
Slide 19: Entertainment, Technology & Services Segment
18 Entertainment, Technology & Services Segment (ET&S Segment) Q3 FY2024 (year-on-year) Sales: 31.2 bln yen (4%) decrease (FX Impact: +12.8 bln yen) ·(ー) Decrease in sales of televisions due to a decrease in unit sales ·(+) Impact of foreign exchange rates OI: Essentially flat (FX Impact: +0.9 bln y
Slide 20: Imaging & Sensing Solutions Segment
19 Imaging & Sensing Solutions Segment (I&SS Segment) Q3 FY2024 (year-on-year) Sales: Essentially flat (FX Impact: +17.3 bln yen) ·(ー) Decrease in sales of image sensors for mobile products ·(ー) Decrease in unit sales ·(+) Impact of foreign exchange rates OI: 2.2 bln yen (2%) decrease (FX Impact: +1
Slide 21: Financial Services Segment
20 Financial Services Segment Q3 FY2024 (year-on-year) Revenue: 406.7 bln yen (130%) significant increase ·(+) Significant increase in revenue at Sony Life (400.8 bln yen increase, revenue: 649.9 bln yen) ·(+) Increase in net gains on investments related to market fluctuations for both the general a
Slide 22: Financial Services Segment: Sony Life Operating Income Breakdown
21 Financial Services Segment Insurance Service Result*1 Other Result 2.3 2.1 2.3 2.2 2.2 2.4 1.0 1.1 1.1 1.1 1.2 1.2 217% 183%196%198%184% 199% 0 1 2 3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 42.7 48.0 46.4 34.0 41.8 49.0 41.3 22.4 -16.7 46.1 -11.0 4.8 27.5 20.7 -19.2 -21.4 -20.9 -24.1 -20.9 -19.8 -19.8 -50 0 50 1
Slide 23: Financial Services Segment: Adjusted Net Income
22 Financial Services Segment FY23 FY24 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Pre-tax net income (loss) (Operating Income)*1 54.5 15.7 77.3 26.1 30.0 65.7 46.4 Post-tax net income (loss) 38.5 10.7 55.0 19.8 21.5 46.7 32.7 SFGI related adjustments - - - - - - - Sony Life related adjustments -13.9 14.4 -31.9 11.0 -
Slide 24: Reconciliation Table for Adjusted EBITDA (Q3)
23 Reconciliation Table for Adjusted EBITDA (Q3) Sony without Financial Services Consolidated Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Net income attributable to Sony Group Corporation’s stockholders 308.9 341.1 363.9 373.7 Net income attributable to noncontrolling interests 3.3 1.8 3.5 1.8 Income taxes 69.1
Slide 25: Results and Reconciliation Table for Adjusted OIBDA by Segment (Q3)
24 Results and Reconciliation Table for Adjusted OIBDA by Segment (Q3) Q3 FY23 Q3 FY24 Change Operating Income Depreciation and Amortization*1 Non-recurring (profit) / loss*2 Adjusted OIBDA Operating Income Depreciation and Amortization*1 Non-recurring (profit) / loss*2 Adjusted OIBDA Adjusted OIBDA
Slide 26: Reconciliation Table for Adjusted EBITDA (Q1-Q3)
25 Reconciliation Table for Adjusted EBITDA (Q1-Q3) Sony without Financial Services Consolidated Q1-Q3 FY23 Q1-Q3 FY24 Q1-Q3 FY23 Q1-Q3 FY24 Net income attributable to Sony Group Corporation’s stockholders 727.5 843.0 781.6 943.9 Net income attributable to noncontrolling interests 4.5 7.4 4.9 7.4 In
Slide 27: Results and Reconciliation Table for Adjusted OIBDA by Segment (Q1-Q3)
26 Results and Reconciliation Table for Adjusted OIBDA by Segment (Q1-Q3) Q1-Q3 FY23 Q1-Q3 FY24 Change Operating Income Depreciation and Amortization*1 Non-recurring (profit) / loss*2 Adjusted OIBDA Operating Income Depreciation and Amortization*1 Non-recurring (profit) / loss*2 Adjusted OIBDA Adjus
Slide 28: Reconciliation Table for Adjusted EBITDA (FY)
27 Reconciliation Table for Adjusted EBITDA Sony without Financial Services Consolidated FY23 FY23 Net income attributable to Sony Group Corporation’s stockholders 896.6 970.6 Net income attributable to noncontrolling interests 9.4 9.9 Income taxes 239.1 288.2 Interest expenses / (income), net, reco
Slide 29: Forecast for Adjusted OIBDA by Segment
28 Forecast for Adjusted OIBDA by Segment FY23 FY24 November FCT FY24 February FCT Change from November FCT Operating Income Depreciation and Amortization*1 Non-recurring (profit) / loss*2 Adjusted OIBDA Adjusted OIBDA Adjusted OIBDA Adjusted OIBDA Game & Network Services (G&NS) 290.2 117.7 － 407.9
Slide 30: Notes about Adjusted OIBDA and Adjusted EBITDA
29 Notes Notes about Adjusted OIBDA and Adjusted EBITDA Adjusted OIBDA (Operating Income Before Depreciation and Amortization) and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) are calculated by the following formulas: Adjusted OIBDA = Operating income + Depreciati
Slide 31: Cautionary Statement
30 Cautionary Statement Statements made in this material with respect to Sony’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. Forward-looking statements include, but are not lim