Sony ADR


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SKU: SONY Category:


Sony Group Corporation delivered disappointing results as the company was unable to meet Wall Street’s revenue and earnings expectations. In the third quarter, Sony reported consolidated sales of JPY 2,828.6 billion, marking an 8% increase from the same period in the prior fiscal year. However, consolidated operating income witnessed a substantial year-on-year decline of JPY 106.4 billion, reaching JPY 263.0 billion. This decrease was primarily attributed to a JPY 64.3 billion reduction in the operating income of the Financial Services segment. Segment-wise, the Games & Network Services (G&NS) segment reported a substantial 32% year-on-year increase in Q2 sales, reaching JPY 954.1 billion. Operating income increased by JPY 6.8 billion to JPY 48.9 billion, primarily driven by increased sales of PlayStation 5 hardware. The Music segment experienced a 14% YoY sales increase, mainly attributed to streaming revenue growth and favorable foreign exchange rates. The Pictures segment reported a significant 18% YoY increase in Q2 sales to JPY 399.6 billion, driven by a rise in television productions. However, the Electronics Products & Solutions (ET&S) segment faced a YoY decrease, mainly due to lower TV sales. The company also collaborated with NTT to establish and advance a comprehensive remote production platform for broadcasting stations, editorial offices, and event halls.

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
⦁ Disclosures

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