Sony Group Corporation · TSE:6758
Sony — Q4 2020 Earnings Presentation
19 slides from Sony's earnings presentation, Apr 28, 2021
Slide 1: FY2020 Consolidated Financial Results
FY2020 Consolidated Financial Results (Fiscal year ended March 31, 2021) April 28, 2021 Sony Group Corporation 0 FY2020 Consolidated Results (Bln Yen) FY19 FY20 Change Sales*1 8,259.9 8,999.4 +739.5 bln yen （+9%） Operating income 845.5 971.9 +126.4 bln yen （+15%） Income before income taxes 799.5 1,1
Slide 2: Q4 FY2020 Consolidated Results and Year-on-year Change
Q4 FY2020 Consolidated Results (Bln Yen) Q4 FY19 Q4 FY20 Change Sales 1,748.7 2,220.4 +471.7 bln yen （+27%） Operating income 35.4 66.5 +31.0 bln yen （+88%） Income before income taxes -4.0 95.5 +99.5 bln yen （ - %） Net income attributable to Sony Group Corporation’s +94.4 bln yen Stockholders 12.6 10
Slide 3: Adjusted Operating Income
Adjusted Operating Income Adjusted Operating Operating Adjusted Operating Income excludes the following items* Income Income Remeasurement and realized gains resulting from the public listing and sale of a portion of shares of SRE Holdings Corporation (All Other: +17.3 bln yen) Patent royalty reve
Slide 4: Adjusted Income Before Income Taxes
Adjusted Income Before Income Taxes Income Before Adjusted Income Adjusted Income Before Income Taxes excludes the following items* Income Taxes Before Income Taxes Remeasurement and realized gains resulting from the public listing and sale of a portion of shares of SRE Holdings Corporation (All O
Slide 5: Adjusted Net Income Attributable to Stockholders
Adjusted Net Income Attributable to Sony Group Corporation’s Stockholders Net Income Adjusted Net Income Attributable to Attributable to Sony Adjusted Net Income Attributable to Sony Group Corporation’s Stockholders Sony Group Group Corporation’s excludes the following items*1 Corporation’s Stockhol
Slide 6: Adjusted Net Income Attributable to Stockholders (Q4)
Adjusted Net Income Attributable to Sony Group Corporation’s Stockholders (Q4) Net Income Adjusted Net Attributable to Income Attributable Adjusted Net Income Attributable to Sony Group Corporation’s Sony Group to Sony Group Stockholders excludes the following items* Corporation’s Corporation’s Stoc
Slide 7: Q4 FY2020 and FY2020 Results by Segment
Q4 FY2020 Results by Segment (Bln Yen) Q4 FY19 Q4 FY20 Change FX Impact Sales 433.6 660.3 +226.7 +3.7 Game & Network Services (G&NS) Operating income 46.2 33.0 -13.1 +7.5 Sales 211.4 267.4 +56.0 -4.1 Music Operating income 30.3 40.6 +10.3 Sales 329.1 200.2 -129.0 -5.6 Pictures Operating income 23.0
Slide 8: FY2021 Consolidated Results Forecast
FY2021 Consolidated Results Forecast (Bln Yen) FY19 FY20 FY21 FCT Change from FY20 (US GAAP) (US GAAP) (IFRS) (Reference)* Sales 8,259.9 8,999.4 9,700 +700.6 bln yen （+8%） Operating income 845.5 971.9 930 -41.9 bln yen （-4%） Income before income taxes 799.5 1,192.4 905 -287.4 bln yen （-24%） Net inco
Slide 9: FY2021 Results Forecast by Segment
FY2021 Results Forecast by Segment [Reclassified] (Bln Yen) Change from FY20 FY21 FCT FY20 (US GAAP) (IFRS) (Reference) Sales 2,656.3 2,900 +243.7 Game & Network Services (G&NS) Operating income 342.2 325 -17.2 Sales 939.9 990 +50.1 Music Operating income 188.1 162 -26.1 Sales 758.8 1,140 +381.2 Pic
Slide 10: Music Segment and Pictures Segment
Music Segment Sales and Operating Income FY2020 (year-on-year) (Bln Yen) Sales Sales: 90.0 bln yen (11%) significant increase (FX Impact: -14.3 bln yen) Operating Income ・(+) Increase in revenues from streaming services for Recorded Music ・(+) Higher sales for Visual Media and Platform ꞏ(+) Increa
Slide 11: EP&S Segment and I&SS Segment
Electronics Products & Solutions Segment (“EP&S Segment”) Sales and Operating Income (Bln Yen) Sales FY2020 (year-on-year) Operating income Sales: 70.5 bln yen (4%) decrease (FX Impact: -17.1 bln yen) ꞏ(--) Decrease in sales of digital cameras, broadcast- and professional-use products and Audio an
Slide 12: Financial Services Segment
Financial Services Segment Financial Services Revenue and Operating Income FY2020 (year-on-year) Financial Services Revenue Revenue: 361.2 bln yen (28%) significant increase (Bln Yen) Operating Income ꞏ(+) Significant increase in revenue at Sony Life (299.2 bln yen increase, revenue: 1,470.9 bln y
Slide 13: Fourth Mid-Range Plan Capital Allocation; Cash, Debt Balance
Fourth Mid-Range Plan Capital Allocation (excluding Financial Services) v The 4th Mid-Range Plan covers FY21-FY23, and the 3rd Mid-Range Plan covered FY18-FY20. *1 Improvements in cumulative operating CF for the 3rd Mid-Range Plan from the end of 3Q 2020 and delays in cash-outs related to strategic
Slide 14: FY2020 Cash Flow Analysis (Sony without Financial Services)
FY2020 Cash Flow (CF) Analysis (Sony without Financial Services) (Bln Yen) As of March 31, 2020 As of March 31, 2021 Cash – Debt*1 (Net Cash Operating CF +1,122.2 Investing CF -581.2 Other -331.7 Position) +149.0 +209.3 (Improvement) +358.3 Adjusted Depreciation Payments for Other net income* 2 and
Slide 15: Effects of Transition to IFRS
Reference Material Effects of Transition to International Financial Reporting Standards (IFRS) February 3, 2021 Sony Corporation (Note) This reference material is to provide investors with an understanding of Sony’s IFRS-based results forecast for the fiscal year ending March 31, 2022, by reprinting
Slide 16: Major Impacts on IFRS Balance Sheet as of April 1, 2020
Major Impacts on IFRS Balance Sheet as of April 1, 2020, Transition Date (Bln yen / Rounded and Unaudited) U.S. GAAP IFRS U.S. GAAP +1,934.4 +724.3 (1) Increase in investments due to a (1) Increase in insurance liabilities change in the measurement and deferred tax liabilities related Liabilities me
Slide 17: Major Impacts on Balance Sheets and Equity from IFRS Transition
Major Impacts on Balance Sheets from IFRS Transition Item U.S. GAAP IFRS Detail Optionally able to Expected to elect cumulative translation elect the cumulative adjustments to be zero at the transition (3) Translation adjustments on translation ― adjustments balance date and to transfer it from ac
Slide 18: Major Impacts on Profit or Loss and Cash Flow
Major Impacts on Profit or Loss from IFRS Transition Item U.S. GAAP IFRS Detail Impacts on sales and operating income Financial services revenue and expenses Changes in classification and measurement method for financial instruments held in the Financial Services segment: Elected to record E.g., c
Slide 19: Notes and Cautionary Statement
Notes Sales on a Constant Currency Basis and the Impact of Foreign Exchange Rate Fluctuations The descriptions of sales on a constant currency basis reflect sales calculated by applying the yen’s monthly average exchange rates from the same period of the previous fiscal year to local currency-denomi