This is our first report on global electronics and entertainment giant, Sony. The company’s stock has seen some recovery over the past weeks after a prolonged period of correction. The company’s results over the past few quarters have generally been mixed. It has been affected by the drop in PlayStation users’ overall playing time and the generally lower participation level. The primary reason is that the video game market has recently slowed down as consumers have more opportunities to leave the house after the pandemic. With this in mind, Sony intends to boost user engagement in the coming quarters, when major games, including first-party software, are scheduled for release. These actions will mainly consist of increasing the supply of PlayStation 5 hardware and promoting the new PlayStation Plus services. Furthermore, Sony is producing many hits in recorded music, including Harry Styles’ album Harry’s House. The management anticipates that customer adoption of larger die-size sensors will pick up speed and propel mobile image sensor sales growth. We initiate coverage on the stock of Sony with a ‘Buy’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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