Sony Group Corporation · TSE:6758

Sony — FY2024 Earnings Presentation

32 slides from Sony's earnings presentation, May 14, 2025

  1. Slide 1: FY2024 Consolidated Financial Results

    FY2024 Consolidated Financial Results (Fiscal year ended March 31, 2025) May 14, 2025 Sony Group Corporation

  2. Slide 2: FY2024 Consolidated Results

    FY2024 Consolidated Results (Bln Yen) Sony without Financial Services Consolidated FY23 FY24 Change FY23 FY24 Change 11,265.0 12,043.9 +778.9 13,020.8 12,957.1 -63.7 Sales*1 （+7%） （-0%） Operating income 1,035.3 1,276.6 +241.4 1,208.8 1,407.2 +198.3 （+23%） （+16%） Operating income margin 9.2% 10.6% +1

  3. Slide 3: FY2024 Consolidated Results: Year-on-year Change

    FY2024 Consolidated Results: Year-on-year Change Contributing Factors Year-on-year Change (+) Better／(-) Worse ・(ー) Decrease in Financial Services segment sales -63.7 bln yen ・(+) Increases in G&NS, Music and I&SS segments sales Sales -0% On a constant currency basis*, sales decreased approximately

  4. Slide 4: FY2024 Results by Segment

    FY2024 Results by Segment (Bln Yen) FY23 FY24 Change FX Impact Game & Network Services Sales 4,267.7 4,670.0 +402.3 +170.0 (G&NS) Operating income 290.2 414.8 +124.6 +0.2 Sales 1,619.0 1,842.6 +223.6 +73.8 Music Operating income 301.7 357.3 +55.6 Sales 1,493.1 1,505.9 ＋12.9 +71.2 Pictures Operating

  5. Slide 5: Q4 FY2024 Consolidated Results

    Q4 FY2024 Consolidated Results (Bln Yen) Sony without Financial Services Consolidated Q4 FY23 Q4 FY24 Change Q4 FY23 Q4 FY24 Change 2,811.0 2,807.3 -3.6 3,481.0 2,630.2 -850.7 Sales （-0%） （-24%） Operating income 203.3 215.2 +11.9 229.4 203.6 -25.8 （+6%） （-11%） Operating income margin 7.2% 7.7% +0.4

  6. Slide 6: Q4 FY2024 Results by Segment

    Q4 FY2024 Results by Segment (Bln Yen) Q4 FY23 Q4 FY24 Change FX Impact Game & Network Services Sales 1,097.3 1,051.3 -46.1 +15.4 (G&NS) Operating income 106.0 92.7 -13.3 -2.6 Sales 429.9 470.7 +40.8 +9.2 Music Operating income 71.2 83.6 +12.4 Sales 406.7 414.6 ＋7.9 +9.4 Pictures Operating income 30

  7. Slide 7: Changes in Disclosure Classification of Consolidated Results

    Changes in Disclosure Classification of Consolidated Results  Sony Group Corporation plans to execute a partial spin-off (the “Spin-off”) of Sony Financial Group Inc. (“SFGI”), a wholly-owned subsidiary which operates the Financial Services business, in October 2025. As a result of the resolution o

  8. Slide 8: FY2025 Results Forecast for Continuing Operations

    FY2025 Results Forecast for Continuing Operations (Bln Yen) FY24 FY25 FCT Change from FY24 Sales 12,043.9 Before 11,700 -343.9 （-3%） tariff Operating income 1,276.6 1,380 +103.4 impact*2 （+8%） (Estimated tariff impact on operating income *2 ) － -100 － Operating income 1,276.6 1,280 +3.4 Continuing （

  9. Slide 9: FY2025 Results Forecast for Continuing Operations: Change from FY2024

    FY2025 Results Forecast for Continuing Operations: Change from FY2024 Year-on-year Contributing Factors Change (+) Better／(-) Worse -343.9 bln yen ・(ー) Decreases in G&NS and ET&S segments sales Sales -3% ・(+) Increase in I&SS segment sales Operating income +103.4 bln yen ・(+) Increases in G&NS and I

  10. Slide 10: Impact of the Partial Spin-off of the Financial Services Business on Consolidated Results

    Impact of the Partial Spin-off of the Financial Services Business on Consolidated Results  The impact of the execution of the Spin-off on Sony’s consolidated results continues to be evaluated and has not been determined at this time.  Upon the execution of the Spin-off, Sony will deconsolidate the

  11. Slide 11: FY2025 Results Forecast by Segment

    FY2025 Results Forecast by Segment (Bln Yen) FY24 FY25 FCT Change from FY24 Game & Network Services Sales 4,670.0 4,300 -370.0 (G&NS) Operating income 414.8 480 +65.2 Sales 1,842.6 1,850 ＋7.4 Music Operating income 357.3 355 -2.3 Sales 1,505.9 1,500 -5.9 Pictures Operating income 117.3 125 +7.7 Sale

  12. Slide 12: Game & Network Services Segment (G&NS Segment)

    Game & Network Services Segment (G&NS Segment) Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Operating Income FY2024 (year-on-year) Adjusted OIBDA  Sales: 402.3 bln yen (9%) increase (FX Impact: +170.0 bln yen) ·(+) Increase in sales of non-first-party game software titles including ad

  13. Slide 13: Music Segment

    Music Segment Sales, Operating Income and Adjusted OIBDA FY2024 (year-on-year) Sales (Bln Yen)  Sales: 223.6 bln yen (14%) increase (FX Impact: +73.8 bln yen) Operating Income ・(+) Higher revenues from streaming services in Recorded Music and Music Publishing Adjusted OIBDA ・(+) Impact of foreign e

  14. Slide 14: Pictures Segment

    Pictures Segment Sales, Operating Income and Adjusted OIBDA FY2024 (year-on-year) Sales (Bln Yen) The following analysis is on a U.S. dollar basis Operating Income  Sales: Essentially flat (U.S. dollar basis: -416 mil USD / -4%) Adjusted OIBDA ·(ー) Lower series deliveries in Television Productions

  15. Slide 15: Entertainment, Technology & Services Segment (ET&S Segment)

    Entertainment, Technology & Services Segment (ET&S Segment) Sales, Operating Income and Adjusted OIBDA Sales (Bln Yen) Operating Income FY2024 (year-on-year) Adjusted OIBDA  Sales: 44.4 bln yen (2%) decrease (FX Impact: +78.9 bln yen) ·(ー) Decrease in sales of televisions and smartphones due to a d

  16. Slide 16: Imaging & Sensing Solutions Segment (I&SS Segment)

    Imaging & Sensing Solutions Segment (I&SS Segment) Sales, Operating Income and Adjusted OIBDA FY2024 (year-on-year) (Bln Yen)  Sales: 196.3 bln yen (12%) increase (FX Impact: +95.9 bln yen) Sales ·(+) Impact of foreign exchange rates Operating Income Adjusted OIBDA ·(+) Increase in sales of image s

  17. Slide 17: Financial Services Segment

    Financial Services Segment Financial Services Revenue, Operating Income and Adjusted OIBDA Financial Services Revenue (Bln Yen) Operating Income Adjusted OIBDA FY2024 (year-on-year)  Revenue: 838.6 bln yen (47%) decrease 1,770.0 ·(ー) Decrease in revenue at Sony Life (863.8 bln yen decrease, revenue

  18. Slide 18: Financial Services Segment

    Financial Services Segment Sony Life Operating Income Breakdown Adjusted Net Income*3 Group Consolidated ESR*6 Insurance Service Result*1 Sony Life ESR Investment Result Other*4 Economic value-based capital FY23 FY24 Other Result Other*2 Economic value-based risk post-tax Adjusted ROE*3 8.0%*5 5.6%*

  19. Slide 19: Financial Services Segment

    Financial Services Segment (Bln Yen) Reconciliations from Net Income to Adjusted Net Income FY23 FY24 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Pre-tax net income (loss) (Operating Income)*1 54.5 15.7 77.3 26.1 173.6 30.0 65.7 46.4 -11.6 130.5 Post-tax net income (loss) 38.5 10.7 55.0 19.8 124.0 21.5 46.7 32.7

  20. Slide 20: (Reference) FY2025 Consolidated Results Forecast for Sony Financial Group

    (Reference) FY2025 Consolidated Results *1 Forecast for Sony Financial Group (IFRS Accounting Standards) Operating Revenue*2, Income Before Income Taxes*3 and Adjusted Net Income*2*4 Operating Revenue (Bln Yen) FY2025 Forecast (year-on-year) Income Before Income Taxes  Operating Revenue: 74.6 bln y

  21. Slide 21: (Reference) FY2025 Consolidated Forecast for Sony Financial Group's Adjusted Net Income

    (Reference) FY2025 Consolidated Forecast for Sony Financial Group’s Adjusted Net Income (IFRS Accounting Standards) Sony Life *1 Breakdown Sony Assurance *2 Sony Bank 1) Absence of the impact of changes in tax rates in FY24 : +19.5 Other 2) Increase in policies in force : ＋11.0 *1 Breakdown （Bln Yen

  22. Slide 22: Cash and Debt Balance (Sony without Financial Services)

    Cash and Debt Balance (Sony without Financial Services) Cash and cash equivalents (Cash) (Bln Yen) Short-term borrowings Debt Long-term debt Net Cash Position (Cash – Debt) 1,764.7 993.3 724.4 Cash 211.0 228.0 258.9 Net Cash Position 129.2 1,104.3 Debt -591.0 -589.7 1,376.6 1,355.0 1,315.4 1,583.0 1

  23. Slide 23: FY2024 Cash Flow (CF) Analysis (Sony without Financial Services)

    FY2024 Cash Flow (CF) Analysis (Sony without Financial Services) (Bln Yen) As of March 31, 2024 As of March 31, 2025 Cash – Debt*1 (Net Cash Position) Operating CF +1,972.4 Investing CF -904.4 Other -349.1 -589.7 +718.9 (Improvement) +129.2 Payments Income before Increase Decrease Other for property

  24. Slide 24: FY2023 Cash Flow (CF) Analysis (Sony without Financial Services)

    FY2023 Cash Flow (CF) Analysis (Sony without Financial Services) (Bln Yen) As of March 31, 2023 As of March 31, 2024 Cash – Debt*1 (Net Cash Position) Operating CF +1,177.8 Investing CF -794.2 Other -382.3 -591.0 +1.3 (Improvement) -589.7 Income before Increase Increase Other income tax in content i

  25. Slide 25: FY2024 Cash Flow (CF): Year-on-year Change

    FY2024 Cash Flow (CF): Year-on-year Change Sony without Financial Services Financial Services Segment Year-on-year Contributing Factors Year-on-year Contributing Factors Change (+) Better / (-) Worse Change (+) Better / (-) Worse ・(+) Decrease in trade receivables and contract assets compared to an

  26. Slide 26: FY2024 Cash Flow (CF) by Segment (Sony without Financial Services)

    FY2024 Cash Flow (CF) by Segment (Sony without Financial Services) FY23 FY24 (Bln Yen) Operating CF 138.5 865.9 Game & Network Services (G&NS) Investing CF -149.2 -151.7 Free CF*1 -10.7 714.2 Operating CF 247.1 158.3 Music Investing CF -214.0 -253.7 Free CF 33.1 -95.4 Operating CF 175.7 216.9 Pictur

  27. Slide 27: 5th Mid-Range Plan Financial Targets

    5 th Mid-Range 第五次中期経営計画 Plan Financial Targets 経営数値目標 (2024年度~2026年度) (FY2024~FY2026) CAGR of Consolidated Three-Year Cumulative Operating Income Operating Income Margin (Continuing Operations) (Continuing Operations) (FY2023→FY2026) (FY2024~FY2026) 10％ or more 10％ or more 26

  28. Slide 28: Progress of 5th Mid-Range Plan Financial Targets

    Progress of経営数値目標 第五次中期経営計画 5 th Mid-Range Plan Financial Targets (2024年度~2026年度) (FY2024~FY2026) Growth Rate of Consolidated Operating Income Margin Operating Income (without Financial Services Segment) (without Financial Services Segment) FY2024 (FY2023→FY2024) 23％ 10.6％  In FY24, the G&NS and I&

  29. Slide 29: Progress of 5th Mid-Range Plan Financial Targets

    Progress of経営数値目標 第五次中期経営計画 5 th Mid-Range Plan Financial Targets (2024年度~2026年度) (FY2024~FY2026) Forecast for Forecast for Two-Year CAGR of Consolidated Cumulative Operating Operating Income Income Margin (Continuing Operations) (Continuing Operations) (FY2023→FY2025) (FY2024~FY2025) 11％ 10.8％  Lo

  30. Slide 30: Capital Allocation

    キャピタルアロケーション Capital Allocation Breakdown of Capital Allocation Source of Capital Allocation (Tn Yen) 4.8 4.8 (Tn Yen) 4.5 4.5 3.9 Shareholder 3.9 Returns Carry-over *2 Dividends from the 3rd Shareholder 0.3 0.4 Share Mid-Range Plan Returns Buyback 0.4 and earlier *1 1.0 Asset sales/ Strategic *3 De

  31. Slide 31: Notes

    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 + Depreciation

  32. Slide 32: Cautionary Statement

    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 limite

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