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Name | Symbol | Market | Type |
---|---|---|---|
Sony Corporation | NYSE:SNE | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 106.01 | 0 | 01:00:00 |
Form 20-F X
|
Form 40-F __
|
SONY GROUP CORPORATION
|
|
(Registrant)
|
|
By: /s/ Hiroki Totoki
|
|
(Signature)
|
|
Hiroki Totoki
|
|
Executive Deputy President and
|
|
Chief Financial Officer
|
Financial Statements (Unaudited)
|
F-1
|
Consolidated Balance Sheets
|
F-1
|
Consolidated Statements of Income (Fiscal year ended March 31)
|
F-2
|
Consolidated Statements of Comprehensive Income (Fiscal year ended March 31)
|
F-2
|
Consolidated Statements of Income (Three months ended March 31)
|
F-3
|
Consolidated Statements of Comprehensive Income (Three months ended March 31)
|
F-3
|
Consolidated Statements of Changes in Stockholders' Equity
|
F-4
|
Consolidated Statements of Cash Flows
|
F-5
|
Notes to Consolidated Financial Statements
|
F-6
|
- Business Segment Information
|
F-6
|
- Going Concern Assumption
|
F-13
|
- Accounting Policies and Other Information
|
F-13
|
- Subsequent event
|
F-15
|
Consolidated Results for the Fiscal Year Ended March 31, 2021
|
1
|
Outlook for the Fiscal Year Ending March 31, 2022
|
4
|
Business Segment Information
(Consolidated Results for the Fiscal year ended March 31, 2021 and Outlook for the Fiscal year ending March 31, 2022)
|
5
|
Financial Target of the Fourth Mid-Range Plan
|
10
|
Basic Views on Selection of Accounting Standards
|
10
|
Supplemental Information
(Effects of Transition to International Financial Reporting Standards (IFRS), as of February 3, 2021)
|
11
|
(Millions of yen) | ||||||||||||
March 31
|
March 31
|
Change from
|
||||||||||
ASSETS | 2020 | 2021 | March 31, 2020 | |||||||||
Current assets:
|
||||||||||||
Cash and cash equivalents
|
¥
|
1,512,357
|
¥
|
1,786,982
|
¥
|
+274,625
|
||||||
Marketable securities
|
1,847,772
|
2,902,438
|
+1,054,666
|
|||||||||
Notes and accounts receivable, trade and contract assets
|
1,028,793
|
1,099,300
|
+70,507
|
|||||||||
Allowance for credit losses
|
(25,873
|
)
|
(29,406
|
)
|
-3,533
|
|||||||
Inventories
|
589,969
|
637,391
|
+47,422
|
|||||||||
Other receivables
|
188,106
|
283,499
|
+95,393
|
|||||||||
Prepaid expenses and other current assets
|
594,021
|
538,540
|
-55,481
|
|||||||||
Total current assets
|
5,735,145
|
7,218,744
|
+1,483,599
|
|||||||||
Film costs
|
427,336
|
459,426
|
+32,090
|
|||||||||
Investments and advances:
|
||||||||||||
Affiliated companies
|
207,922
|
226,218
|
+18,296
|
|||||||||
Securities investments and other
|
12,526,210
|
14,046,196
|
+1,519,986
|
|||||||||
Allowance for credit losses
|
–
|
(8,419
|
)
|
-8,419
|
||||||||
12,734,132
|
14,263,995
|
+1,529,863
|
||||||||||
Property, plant and equipment:
|
||||||||||||
Land
|
81,482
|
79,557
|
-1,925
|
|||||||||
Buildings
|
659,556
|
683,249
|
+23,693
|
|||||||||
Machinery and equipment
|
1,725,720
|
1,748,961
|
+23,241
|
|||||||||
Construction in progress
|
76,391
|
100,728
|
+24,337
|
|||||||||
2,543,149
|
2,612,495
|
+69,346
|
||||||||||
Less-Accumulated depreciation
|
1,634,505
|
1,627,061
|
-7,444
|
|||||||||
908,644
|
985,434
|
+76,790
|
||||||||||
Other assets:
|
||||||||||||
Operating lease right-of-use assets
|
359,510
|
337,322
|
-22,188
|
|||||||||
Finance lease right-of-use assets
|
33,100
|
39,772
|
+6,672
|
|||||||||
Intangibles, net
|
906,310
|
996,305
|
+89,995
|
|||||||||
Goodwill
|
783,888
|
827,149
|
+43,261
|
|||||||||
Deferred insurance acquisition costs
|
600,901
|
657,420
|
+56,519
|
|||||||||
Deferred income taxes
|
210,372
|
207,470
|
-2,902
|
|||||||||
Other
|
340,005
|
361,803
|
+21,798
|
|||||||||
3,234,086
|
3,427,241
|
+193,155
|
||||||||||
Total assets
|
¥
|
23,039,343
|
¥
|
26,354,840
|
¥
|
+3,315,497
|
||||||
LIABILITIES AND EQUITY
|
||||||||||||
Current liabilities:
|
||||||||||||
Short-term borrowings
|
¥
|
810,176
|
¥
|
1,187,868
|
¥
|
+377,692
|
||||||
Current portion of long-term debt
|
29,807
|
131,699
|
+101,892
|
|||||||||
Current portion of long-term operating lease liabilities
|
68,942
|
73,362
|
+4,420
|
|||||||||
Notes and accounts payable, trade
|
380,810
|
599,569
|
+218,759
|
|||||||||
Accounts payable, other and accrued expenses
|
1,630,197
|
1,756,833
|
+126,636
|
|||||||||
Accrued income and other taxes
|
145,996
|
165,406
|
+19,410
|
|||||||||
Deposits from customers in the banking business
|
2,440,783
|
2,773,885
|
+333,102
|
|||||||||
Other
|
733,732
|
1,126,802
|
+393,070
|
|||||||||
Total current liabilities
|
6,240,443
|
7,815,424
|
+1,574,981
|
|||||||||
Long-term debt
|
634,966
|
773,294
|
+138,328
|
|||||||||
Long-term operating lease liabilities
|
314,836
|
290,259
|
-24,577
|
|||||||||
Accrued pension and severance costs
|
324,655
|
254,103
|
-70,552
|
|||||||||
Deferred income taxes
|
549,538
|
366,761
|
-182,777
|
|||||||||
Future insurance policy benefits and other
|
6,246,047
|
6,599,977
|
+353,930
|
|||||||||
Policyholders’ account in the life insurance business
|
3,642,271
|
4,331,065
|
+688,794
|
|||||||||
Other
|
289,285
|
294,302
|
+5,017
|
|||||||||
Total liabilities
|
18,242,041
|
20,725,185
|
+2,483,144
|
|||||||||
Redeemable noncontrolling interest
|
7,767
|
8,179
|
+412
|
|||||||||
Equity:
|
||||||||||||
Sony Group Corporation’s stockholders’ equity:
|
||||||||||||
Common stock
|
880,214
|
880,214
|
–
|
|||||||||
Additional paid-in capital
|
1,289,719
|
1,486,721
|
+197,002
|
|||||||||
Retained earnings
|
2,768,856
|
3,857,152
|
+1,088,296
|
|||||||||
Accumulated other comprehensive income
|
(580,980
|
)
|
(524,020
|
)
|
+56,960
|
|||||||
Treasury stock, at cost
|
(232,503
|
)
|
(124,228
|
)
|
+108,275
|
|||||||
4,125,306
|
5,575,839
|
+1,450,533
|
||||||||||
Noncontrolling interests
|
664,229
|
45,637
|
-618,592
|
|||||||||
Total equity
|
4,789,535
|
5,621,476
|
+831,941
|
|||||||||
Total liabilities and equity
|
¥
|
23,039,343
|
¥
|
26,354,840
|
¥
|
+3,315,497
|
(Millions of yen)
|
||||||||||||
Fiscal year ended March 31
|
||||||||||||
2020
|
2021
|
Change
|
||||||||||
Net income
|
¥
|
622,260
|
¥
|
1,191,375
|
¥
|
+569,115
|
||||||
Other comprehensive income, net of tax –
|
||||||||||||
Unrealized gains (losses) on securities
|
40,390
|
(102,492
|
)
|
-142,882
|
||||||||
Unrealized gains on derivative instruments
|
1,267
|
1,513
|
+246
|
|||||||||
Pension liability adjustment
|
74,971
|
12,965
|
-62,006
|
|||||||||
Foreign currency translation adjustments
|
(75,888
|
)
|
106,826
|
+182,714
|
||||||||
Debt valuation adjustments
|
3,032
|
(3,120
|
)
|
-6,152
|
||||||||
Total comprehensive income
|
666,032
|
1,207,067
|
+541,035
|
|||||||||
Less - Comprehensive income attributable
|
||||||||||||
to noncontrolling interests
|
54,151
|
8,231
|
-45,920
|
|||||||||
Comprehensive income attributable
|
||||||||||||
to Sony Group Corporation’s stockholders
|
¥
|
611,881
|
¥
|
1,198,836
|
¥
|
+586,955
|
(Millions of yen)
|
||||||||||||
Three months ended March 31 | ||||||||||||
2020
|
2021
|
Change
|
||||||||||
Net income
|
¥
|
15,743
|
¥
|
107,122
|
¥
|
+91,379
|
||||||
Other comprehensive income, net of tax –
|
||||||||||||
Unrealized gains (losses) on securities
|
25,633
|
(38,064
|
)
|
-63,697
|
||||||||
Unrealized gains on derivative instruments
|
1,207
|
845
|
-362
|
|||||||||
Pension liability adjustment
|
(11,191
|
)
|
6,160
|
+17,351
|
||||||||
Foreign currency translation adjustments
|
(58,387
|
)
|
133,613
|
+192,000
|
||||||||
Debt valuation adjustments
|
3,032
|
(1,283
|
)
|
-4,315
|
||||||||
Total comprehensive income (loss)
|
(23,963
|
)
|
208,393
|
+232,356
|
||||||||
Less - Comprehensive income attributable
|
||||||||||||
to noncontrolling interests
|
12,516
|
1,365
|
-11,151
|
|||||||||
Comprehensive income (loss) attributable
|
||||||||||||
to Sony Group Corporation’s stockholders
|
¥
|
(36,479
|
)
|
¥
|
207,028
|
¥
|
+243,507
|
(Millions of yen)
|
||||||||||||||||||||||||||||||||
Common
stock
|
Additional
paid-in capital
|
Retained
earnings
|
Accumulated other comprehensive income
|
Treasury
stock, at cost
|
Sony Group Corporation’s stockholders’ equity
|
Noncontrolling interests
|
Total equity
|
|||||||||||||||||||||||||
Balance at March 31, 2019
|
¥
|
874,291
|
¥
|
1,266,874
|
¥
|
2,320,586
|
¥
|
(610,670
|
)
|
¥
|
(104,704
|
)
|
¥
|
3,746,377
|
¥
|
690,313
|
¥
|
4,436,690
|
||||||||||||||
Cumulative effect of ASU 2016-02
|
(7,472
|
)
|
(7,472
|
)
|
(7,472
|
)
|
||||||||||||||||||||||||||
Issuance of new shares
|
529
|
529
|
1,058
|
1,058
|
||||||||||||||||||||||||||||
Exercise of stock acquisition rights
|
5,179
|
5,180
|
10,359
|
10,359
|
||||||||||||||||||||||||||||
Conversion of convertible bonds
|
215
|
215
|
430
|
430
|
||||||||||||||||||||||||||||
Stock-based compensation
|
1,980
|
1,980
|
1,980
|
|||||||||||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||||||
Net income
|
582,191
|
582,191
|
40,069
|
622,260
|
||||||||||||||||||||||||||||
Other comprehensive income, net of tax
|
||||||||||||||||||||||||||||||||
Unrealized gains on securities
|
26,156
|
26,156
|
14,234
|
40,390
|
||||||||||||||||||||||||||||
Unrealized gains on derivative instruments
|
1,267
|
1,267
|
1,267
|
|||||||||||||||||||||||||||||
Pension liability adjustment
|
74,937
|
74,937
|
34
|
74,971
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
(74,643
|
)
|
(74,643
|
)
|
(1,245
|
)
|
(75,888
|
)
|
||||||||||||||||||||||||
Debt valuation adjustments
|
1,973
|
1,973
|
1,059
|
3,032
|
||||||||||||||||||||||||||||
Total comprehensive income
|
611,881
|
54,151
|
666,032
|
|||||||||||||||||||||||||||||
Stock issue costs, net of tax
|
(80
|
)
|
(80
|
)
|
(80
|
)
|
||||||||||||||||||||||||||
Dividends declared
|
(55,111
|
)
|
(55,111
|
)
|
(25,885
|
)
|
(80,996
|
)
|
||||||||||||||||||||||||
Purchase of treasury stock
|
(200,211
|
)
|
(200,211
|
)
|
(200,211
|
)
|
||||||||||||||||||||||||||
Reissuance of treasury stock
|
0
|
2
|
2
|
2
|
||||||||||||||||||||||||||||
Cancellation of treasury stock
|
(1,072
|
)
|
(71,338
|
)
|
72,410
|
–
|
–
|
|||||||||||||||||||||||||
Transactions with noncontrolling interests
|
||||||||||||||||||||||||||||||||
shareholders and other
|
16,093
|
16,093
|
(54,350
|
)
|
(38,257
|
)
|
||||||||||||||||||||||||||
Balance at March 31, 2020
|
¥
|
880,214
|
1,289,719
|
2,768,856
|
(580,980
|
)
|
(232,503
|
)
|
4,125,306
|
664,229
|
4,789,535
|
(Millions of yen)
|
||||||||||||||||||||||||||||||||
Common
stock
|
Additional
paid-in capital
|
Retained
earnings
|
Accumulated other comprehensive income
|
Treasury
stock, at cost
|
Sony Group Corporation’s stockholders’ equity
|
Noncontrolling interests
|
Total equity
|
|||||||||||||||||||||||||
Balance at March 31, 2020
|
¥
|
880,214
|
¥
|
1,289,719
|
¥
|
2,768,856
|
¥
|
(580,980
|
)
|
¥
|
(232,503
|
)
|
¥
|
4,125,306
|
¥
|
664,229
|
¥
|
4,789,535
|
||||||||||||||
Cumulative effect of ASU 2016-13
|
(3,669
|
)
|
(3,669
|
)
|
(1,386
|
)
|
(5,055
|
)
|
||||||||||||||||||||||||
Exercise of stock acquisition rights
|
(354
|
)
|
(735
|
)
|
18,074
|
16,985
|
16,985
|
|||||||||||||||||||||||||
Conversion of convertible bonds
|
(11,060
|
)
|
89,402
|
78,342
|
78,342
|
|||||||||||||||||||||||||||
Stock-based compensation
|
1,577
|
1,577
|
1,577
|
|||||||||||||||||||||||||||||
Comprehensive income:
|
||||||||||||||||||||||||||||||||
Net income
|
1,171,776
|
1,171,776
|
19,599
|
1,191,375
|
||||||||||||||||||||||||||||
Other comprehensive income, net of tax
|
||||||||||||||||||||||||||||||||
Unrealized losses on securities
|
(90,521
|
)
|
(90,521
|
)
|
(11,971
|
)
|
(102,492
|
)
|
||||||||||||||||||||||||
Unrealized gains on derivative instruments
|
1,513
|
1,513
|
1,513
|
|||||||||||||||||||||||||||||
Pension liability adjustment
|
12,962
|
12,962
|
3
|
12,965
|
||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
105,643
|
105,643
|
1,183
|
106,826
|
||||||||||||||||||||||||||||
Debt valuation adjustments
|
(2,537
|
)
|
(2,537
|
)
|
(583
|
)
|
(3,120
|
)
|
||||||||||||||||||||||||
Total comprehensive income
|
1,198,836
|
8,231
|
1,207,067
|
|||||||||||||||||||||||||||||
Dividends declared
|
(68,016
|
)
|
(68,016
|
)
|
(12,996
|
)
|
(81,012
|
)
|
||||||||||||||||||||||||
Purchase of treasury stock
|
(366
|
)
|
(366
|
)
|
(366
|
)
|
||||||||||||||||||||||||||
Reissuance of treasury stock
|
354
|
1,165
|
1,519
|
1,519
|
||||||||||||||||||||||||||||
Transactions with noncontrolling interests
|
||||||||||||||||||||||||||||||||
shareholders and other
|
195,425
|
29,900
|
225,325
|
(612,441
|
)
|
(387,116
|
)
|
|||||||||||||||||||||||||
Balance at March 31, 2021
|
¥
|
880,214
|
1,486,721
|
3,857,152
|
(524,020
|
)
|
(124,228
|
)
|
5,575,839
|
45,637
|
5,621,476
|
(Millions of yen)
|
||||||||
Fiscal year ended March 31
|
||||||||
2020
|
2021
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income
|
¥
|
622,260
|
¥
|
1,191,375
|
||||
Adjustments to reconcile net income to net cash
|
||||||||
provided by operating activities:
|
||||||||
Depreciation and amortization, including amortization of
|
||||||||
deferred insurance acquisition costs and contract costs
|
416,642
|
390,693
|
||||||
Amortization of film costs
|
329,809
|
273,044
|
||||||
Accrual for pension and severance costs, less payments
|
8,948
|
(42,936
|
)
|
|||||
Other operating (income) expense, net
|
(3,611
|
)
|
7,468
|
|||||
(Gain) loss on securities investments, net (other than financial services business)
|
20,177
|
(247,033
|
)
|
|||||
(Gain) loss on marketable securities and Securities investments held in the financial
|
||||||||
services business, net
|
93,088
|
(478,321
|
)
|
|||||
Deferred income taxes
|
4,799
|
(153,427
|
)
|
|||||
Equity in net income of affiliated companies, net of dividends
|
(5,114
|
)
|
(4,948
|
)
|
||||
Changes in assets and liabilities:
|
||||||||
(Increase) decrease in notes, accounts receivable, trade and contract assets
|
62,654
|
(37,779
|
)
|
|||||
(Increase) decrease in inventories
|
40,315
|
(57,007
|
)
|
|||||
Increase in film costs
|
(361,194
|
)
|
(280,541
|
)
|
||||
Increase (decrease) in notes and accounts payable, trade
|
(91,435
|
)
|
211,939
|
|||||
Increase (decrease) in accrued income and other taxes
|
(40,144
|
)
|
80,165
|
|||||
Increase in future insurance policy benefits and other
|
520,683
|
905,343
|
||||||
Increase in deferred insurance acquisition costs
|
(99,433
|
)
|
(102,289
|
)
|
||||
Increase in marketable securities held in the life insurance business
|
(124,270
|
)
|
(156,132
|
)
|
||||
Increase in other current assets
|
(37,286
|
)
|
(102,400
|
)
|
||||
Increase (decrease) in other current liabilities
|
(27,083
|
)
|
62,619
|
|||||
Other
|
19,940
|
(109,683
|
)
|
|||||
Net cash provided by operating activities
|
1,349,745
|
1,350,150
|
||||||
Cash flows from investing activities:
|
||||||||
Payments for purchases of fixed assets
|
(439,761
|
)
|
(512,239
|
)
|
||||
Proceeds from sales of fixed assets
|
18,758
|
15,823
|
||||||
Payments for investments and advances by financial services business
|
(1,319,062
|
)
|
(1,631,017
|
)
|
||||
Payments for investments and advances
|
||||||||
(other than financial services business)
|
(48,853
|
)
|
(103,143
|
)
|
||||
Proceeds from sales or return of investments and collections of advances
|
||||||||
by financial services business
|
343,740
|
449,081
|
||||||
Proceeds from sales or return of investments and collections of advances
|
||||||||
(other than financial services business)
|
14,456
|
20,309
|
||||||
Proceeds from sales of businesses
|
12,816
|
3,151
|
||||||
Proceeds from sales of Olympus Corporation Shares
|
80,357
|
–
|
||||||
Other
|
(14,729
|
)
|
(23,481
|
)
|
||||
Net cash used in investing activities
|
(1,352,278
|
)
|
(1,781,516
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Proceeds from issuance of long-term debt
|
118,447
|
406,857
|
||||||
Payments of long-term debt
|
(198,055
|
)
|
(98,134
|
)
|
||||
Increase in short-term borrowings, net
|
193,332
|
355,536
|
||||||
Proceeds from issuance of short-term borrowings in connection with
|
||||||||
payment for purchase of noncontrolling interest in Sony Financial Holdings Inc.
|
–
|
396,500
|
||||||
Payments of short-term borrowings in connection with
|
||||||||
payment for purchase of noncontrolling interest in Sony Financial Holdings Inc.
|
–
|
(396,500
|
)
|
|||||
Increase in deposits from customers in the financial services business, net
|
258,720
|
467,286
|
||||||
Dividends paid
|
(49,574
|
)
|
(61,288
|
)
|
||||
Payments for purchase of treasury stock
|
(200,211
|
)
|
(366
|
)
|
||||
Payment for purchase of noncontrolling interest in Game Show Network, LLC
|
(39,894
|
)
|
–
|
|||||
Payment for purchase of noncontrolling interest in Sony Financial Holdings Inc.
|
–
|
(396,698
|
)
|
|||||
Other
|
(17,107
|
)
|
(6,226
|
)
|
||||
Net cash provided by financing activities
|
65,658
|
666,967
|
||||||
Effect of exchange rate changes on cash and cash equivalents, including restricted
|
(21,643
|
)
|
36,668
|
|||||
Net increase in cash and cash equivalents, including restricted
|
41,482
|
272,269
|
||||||
Cash and cash equivalents, including restricted, at beginning of the fiscal year
|
1,473,813
|
1,515,295
|
||||||
Cash and cash equivalents, including restricted, at end of the fiscal year
|
1,515,295
|
1,787,564
|
||||||
Less - restricted cash and cash equivalents, included in other current assets and
|
||||||||
other assets
|
2,938
|
582
|
||||||
Cash and cash equivalents at end of the fiscal year
|
¥
|
1,512,357
|
¥
|
1,786,982
|
(Millions of yen)
|
||||||||||||
Fiscal year ended March 31
|
||||||||||||
Sales and operating revenue
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
||||||||||||
Customers
|
¥
|
1,919,760
|
¥
|
2,604,713
|
¥
|
+684,953
|
||||||
Intersegment
|
57,791
|
51,565
|
-6,226
|
|||||||||
Total
|
1,977,551
|
2,656,278
|
+678,727
|
|||||||||
Music
|
||||||||||||
Customers
|
838,592
|
927,250
|
+88,658
|
|||||||||
Intersegment
|
11,317
|
12,617
|
+1,300
|
|||||||||
Total
|
849,909
|
939,867
|
+89,958
|
|||||||||
Pictures
|
||||||||||||
Customers
|
1,010,714
|
757,580
|
-253,134
|
|||||||||
Intersegment
|
1,140
|
1,187
|
+47
|
|||||||||
Total
|
1,011,854
|
758,767
|
-253,087
|
|||||||||
Electronics Products & Solutions
|
||||||||||||
Customers
|
1,969,880
|
1,902,887
|
-66,993
|
|||||||||
Intersegment
|
21,388
|
17,843
|
-3,545
|
|||||||||
Total
|
1,991,268
|
1,920,730
|
-70,538
|
|||||||||
Imaging & Sensing Solutions
|
||||||||||||
Customers
|
985,259
|
937,859
|
-47,400
|
|||||||||
Intersegment
|
85,317
|
74,638
|
-10,679
|
|||||||||
Total
|
1,070,576
|
1,012,497
|
-58,079
|
|||||||||
Financial Services
|
||||||||||||
Customers
|
1,299,847
|
1,661,520
|
+361,673
|
|||||||||
Intersegment
|
7,901
|
7,401
|
-500
|
|||||||||
Total
|
1,307,748
|
1,668,921
|
+361,173
|
|||||||||
All Other
|
||||||||||||
Customers
|
214,999
|
196,517
|
-18,482
|
|||||||||
Intersegment
|
36,421
|
32,736
|
-3,685
|
|||||||||
Total
|
251,420
|
229,253
|
-22,167
|
|||||||||
Corporate and elimination
|
(200,441
|
)
|
(186,953
|
)
|
+13,488
|
|||||||
Consolidated total
|
¥
|
8,259,885
|
¥
|
8,999,360
|
¥
|
+739,475
|
(Millions of yen)
|
||||||||||||
Fiscal year ended March 31
|
||||||||||||
Operating income (loss)
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
¥
|
238,400
|
¥
|
342,192
|
¥
|
+103,792
|
||||||
Music
|
142,345
|
188,056
|
+45,711
|
|||||||||
Pictures
|
68,157
|
80,478
|
+12,321
|
|||||||||
Electronics Products & Solutions
|
87,276
|
139,180
|
+51,904
|
|||||||||
Imaging & Sensing Solutions
|
235,584
|
145,876
|
-89,708
|
|||||||||
Financial Services
|
129,597
|
164,582
|
+34,985
|
|||||||||
All Other
|
16,288
|
11,368
|
-4,920
|
|||||||||
Total
|
917,647
|
1,071,732
|
+154,085
|
|||||||||
Corporate and elimination
|
(72,188
|
)
|
(99,867
|
)
|
-27,679
|
|||||||
Consolidated total
|
¥
|
845,459
|
¥
|
971,865
|
¥
|
+126,406
|
(Millions of yen)
|
||||||||||||
Three months ended March 31
|
||||||||||||
Sales and operating revenue
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
||||||||||||
Customers
|
¥
|
423,388
|
¥
|
645,330
|
¥
|
+221,942
|
||||||
Intersegment
|
10,182
|
14,975
|
+4,793
|
|||||||||
Total
|
433,570
|
660,305
|
+226,735
|
|||||||||
Music
|
||||||||||||
Customers
|
207,951
|
263,372
|
+55,421
|
|||||||||
Intersegment
|
3,492
|
4,050
|
+558
|
|||||||||
Total
|
211,443
|
267,422
|
+55,979
|
|||||||||
Pictures
|
||||||||||||
Customers
|
328,866
|
200,046
|
-128,820
|
|||||||||
Intersegment
|
282
|
124
|
-158
|
|||||||||
Total
|
329,148
|
200,170
|
-128,978
|
|||||||||
Electronics Products & Solutions
|
||||||||||||
Customers
|
357,095
|
430,253
|
+73,158
|
|||||||||
Intersegment
|
6,330
|
4,985
|
-1,345
|
|||||||||
Total
|
363,425
|
435,238
|
+71,813
|
|||||||||
Imaging & Sensing Solutions
|
||||||||||||
Customers
|
210,689
|
211,725
|
+1,036
|
|||||||||
Intersegment
|
20,478
|
20,564
|
+86
|
|||||||||
Total
|
231,167
|
232,289
|
+1,122
|
|||||||||
Financial Services
|
||||||||||||
Customers
|
184,556
|
421,065
|
+236,509
|
|||||||||
Intersegment
|
1,848
|
1,878
|
+30
|
|||||||||
Total
|
186,404
|
422,943
|
+236,539
|
|||||||||
All Other
|
||||||||||||
Customers
|
33,295
|
46,083
|
+12,788
|
|||||||||
Intersegment
|
7,364
|
7,374
|
+10
|
|||||||||
Total
|
40,659
|
53,457
|
+12,798
|
|||||||||
Corporate and elimination
|
(47,076
|
)
|
(51,405
|
)
|
-4,329
|
|||||||
Consolidated total
|
¥
|
1,748,740
|
¥
|
2,220,419
|
¥
|
+471,679
|
(Millions of yen)
|
||||||||||||
Three months ended March 31
|
||||||||||||
Operating income (loss)
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
¥
|
46,159
|
¥
|
33,040
|
¥
|
-13,119
|
||||||
Music
|
30,338
|
40,621
|
+10,283
|
|||||||||
Pictures
|
23,041
|
1,778
|
-21,263
|
|||||||||
Electronics Products & Solutions
|
(59,513
|
)
|
(11,469
|
)
|
+48,044
|
|||||||
Imaging & Sensing Solutions
|
34,496
|
20,219
|
-14,277
|
|||||||||
Financial Services
|
12,079
|
27,066
|
+14,987
|
|||||||||
All Other
|
(4,217
|
)
|
(3,481
|
)
|
+736
|
|||||||
Total
|
82,383
|
107,774
|
+25,391
|
|||||||||
Corporate and elimination
|
(46,936
|
)
|
(41,294
|
)
|
+5,642
|
|||||||
Consolidated total
|
¥
|
35,447
|
¥
|
66,480
|
¥
|
+31,033
|
(Millions of yen)
|
||||||||||||
Fiscal year ended March 31
|
||||||||||||
Sales and operating revenue (to external customers)
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
||||||||||||
Digital Software and Add-on Content
|
¥
|
1,010,296
|
¥
|
1,454,654
|
¥
|
+444,358
|
||||||
Network Services
|
337,265
|
382,950
|
+45,685
|
|||||||||
Hardware and Others
|
572,199
|
767,109
|
+194,910
|
|||||||||
Total
|
1,919,760
|
2,604,713
|
+684,953
|
|||||||||
Music
|
||||||||||||
Recorded Music - Streaming
|
276,039
|
337,100
|
+61,061
|
|||||||||
Recorded Music - Others
|
191,114
|
179,167
|
-11,947
|
|||||||||
Music Publishing
|
157,478
|
156,862
|
-616
|
|||||||||
Visual Media and Platform
|
213,961
|
254,121
|
+40,160
|
|||||||||
Total
|
838,592
|
927,250
|
+88,658
|
|||||||||
Pictures
|
||||||||||||
Motion Pictures
|
475,061
|
271,081
|
-203,980
|
|||||||||
Television Productions
|
301,224
|
267,123
|
-34,101
|
|||||||||
Media Networks
|
234,429
|
219,376
|
-15,053
|
|||||||||
Total
|
1,010,714
|
757,580
|
-253,134
|
|||||||||
Electronics Products & Solutions
|
||||||||||||
Televisions
|
646,513
|
709,007
|
+62,494
|
|||||||||
Audio and Video
|
346,060
|
313,975
|
-32,085
|
|||||||||
Still and Video Cameras
|
384,142
|
338,694
|
-45,448
|
|||||||||
Mobile Communications
|
362,144
|
358,580
|
-3,564
|
|||||||||
Other
|
231,021
|
182,631
|
-48,390
|
|||||||||
Total
|
1,969,880
|
1,902,887
|
-66,993
|
|||||||||
Imaging & Sensing Solutions
|
985,259
|
937,859
|
-47,400
|
|||||||||
Financial Services
|
1,299,847
|
1,661,520
|
+361,673
|
|||||||||
All Other
|
214,999
|
196,517
|
-18,482
|
|||||||||
Corporate
|
20,834
|
11,034
|
-9,800
|
|||||||||
Consolidated total
|
¥
|
8,259,885
|
¥
|
8,999,360
|
¥
|
+739,475
|
(Millions of yen)
|
||||||||||||
Three months ended March 31
|
||||||||||||
Sales and operating revenue (to external customers)
|
2020
|
2021
|
Change
|
|||||||||
Game & Network Services
|
||||||||||||
Digital Software and Add-on Content
|
¥
|
262,461
|
¥
|
330,167
|
¥
|
+67,706
|
||||||
Network Services
|
83,798
|
97,984
|
+14,186
|
|||||||||
Hardware and Others
|
77,129
|
217,179
|
+140,050
|
|||||||||
Total
|
423,388
|
645,330
|
+221,942
|
|||||||||
Music
|
||||||||||||
Recorded Music - Streaming
|
69,948
|
101,310
|
+31,362
|
|||||||||
Recorded Music - Others
|
47,102
|
51,435
|
+4,333
|
|||||||||
Music Publishing
|
40,065
|
43,209
|
+3,144
|
|||||||||
Visual Media and Platform
|
50,836
|
67,418
|
+16,582
|
|||||||||
Total
|
207,951
|
263,372
|
+55,421
|
|||||||||
Pictures
|
||||||||||||
Motion Pictures
|
152,475
|
62,210
|
-90,265
|
|||||||||
Television Productions
|
120,620
|
76,228
|
-44,392
|
|||||||||
Media Networks
|
55,771
|
61,608
|
+5,837
|
|||||||||
Total
|
328,866
|
200,046
|
-128,820
|
|||||||||
Electronics Products & Solutions
|
||||||||||||
Televisions
|
96,414
|
149,951
|
+53,537
|
|||||||||
Audio and Video
|
61,821
|
66,033
|
+4,212
|
|||||||||
Still and Video Cameras
|
62,251
|
80,482
|
+18,231
|
|||||||||
Mobile Communications
|
70,380
|
74,150
|
+3,770
|
|||||||||
Other
|
66,229
|
59,637
|
-6,592
|
|||||||||
Total
|
357,095
|
430,253
|
+73,158
|
|||||||||
Imaging & Sensing Solutions
|
210,689
|
211,725
|
+1,036
|
|||||||||
Financial Services
|
184,556
|
421,065
|
+236,509
|
|||||||||
All Other
|
33,295
|
46,083
|
+12,788
|
|||||||||
Corporate
|
2,900
|
2,545
|
-355
|
|||||||||
Consolidated total
|
¥
|
1,748,740
|
¥
|
2,220,419
|
¥
|
+471,679
|
|
(Millions of yen) | |||||||||||||||||||||||
Financial Services
|
Sony without
Financial Services
|
Consolidated
|
||||||||||||||||||||||
March 31
|
March 31
|
March 31
|
March 31
|
March 31
|
March 31
|
|||||||||||||||||||
2020
|
2021
|
2020
|
2021
|
2020
|
2021
|
|||||||||||||||||||
ASSETS
|
||||||||||||||||||||||||
Current assets:
|
||||||||||||||||||||||||
Cash and cash equivalents
|
¥
|
550,039
|
¥
|
497,218
|
¥
|
962,318
|
¥
|
1,289,764
|
¥
|
1,512,357
|
¥
|
1,786,982
|
||||||||||||
Marketable securities
|
1,847,772
|
2,902,438
|
–
|
–
|
1,847,772
|
2,902,438
|
||||||||||||||||||
Notes and accounts receivable, trade and contract assets
|
10,532
|
15,125
|
999,976
|
1,070,079
|
1,002,920
|
1,069,894
|
||||||||||||||||||
Inventories
|
–
|
–
|
589,969
|
637,391
|
589,969
|
637,391
|
||||||||||||||||||
Other receivables
|
73,117
|
63,725
|
115,100
|
220,069
|
188,106
|
283,499
|
||||||||||||||||||
Prepaid expenses and other current assets
|
181,247
|
181,540
|
413,496
|
369,696
|
594,021
|
538,540
|
||||||||||||||||||
Total current assets
|
2,662,707
|
3,660,046
|
3,080,859
|
3,586,999
|
5,735,145
|
7,218,744
|
||||||||||||||||||
Film costs
|
–
|
–
|
427,336
|
459,426
|
427,336
|
459,426
|
||||||||||||||||||
Investments and advances
|
12,457,977
|
13,588,848
|
351,936
|
749,661
|
12,734,132
|
14,263,995
|
||||||||||||||||||
Investments in Financial Services, at cost
|
–
|
–
|
153,968
|
550,483
|
–
|
–
|
||||||||||||||||||
Property, plant and equipment
|
18,247
|
19,252
|
890,640
|
966,237
|
908,644
|
985,434
|
||||||||||||||||||
Other assets:
|
||||||||||||||||||||||||
Right-of-use assets
|
58,897
|
66,952
|
333,753
|
310,145
|
392,610
|
377,094
|
||||||||||||||||||
Intangibles, net
|
49,871
|
53,069
|
856,439
|
943,236
|
906,310
|
996,305
|
||||||||||||||||||
Goodwill
|
10,834
|
10,834
|
773,054
|
816,315
|
783,888
|
827,149
|
||||||||||||||||||
Deferred insurance acquisition costs
|
600,901
|
657,420
|
–
|
–
|
600,901
|
657,420
|
||||||||||||||||||
Deferred income taxes
|
10,365
|
1,506
|
200,021
|
303,778
|
210,372
|
207,470
|
||||||||||||||||||
Other
|
38,949
|
35,010
|
305,028
|
330,754
|
340,005
|
361,803
|
||||||||||||||||||
769,817
|
824,791
|
2,468,295
|
2,704,228
|
3,234,086
|
3,427,241
|
|||||||||||||||||||
Total assets
|
¥
|
15,908,748
|
¥
|
18,092,937
|
¥
|
7,373,034
|
¥
|
9,017,034
|
¥
|
23,039,343
|
¥
|
26,354,840
|
||||||||||||
LIABILITIES AND EQUITY
|
||||||||||||||||||||||||
Current liabilities:
|
||||||||||||||||||||||||
Short-term borrowings
|
¥
|
758,737
|
¥
|
1,153,504
|
¥
|
81,246
|
¥
|
166,063
|
¥
|
839,983
|
¥
|
1,319,567
|
||||||||||||
Short-term operating lease liabilities
|
9,363
|
9,422
|
59,595
|
63,941
|
68,942
|
73,362
|
||||||||||||||||||
Notes and accounts payable, trade
|
–
|
–
|
380,810
|
599,569
|
380,810
|
599,569
|
||||||||||||||||||
Accounts payable, other and accrued expenses
|
40,457
|
39,885
|
1,591,072
|
1,718,252
|
1,630,197
|
1,756,833
|
||||||||||||||||||
Accrued income and other taxes
|
22,825
|
3,944
|
123,171
|
161,462
|
145,996
|
165,406
|
||||||||||||||||||
Deposits from customers in the banking business
|
2,440,783
|
2,773,885
|
–
|
–
|
2,440,783
|
2,773,885
|
||||||||||||||||||
Other
|
226,455
|
632,047
|
514,368
|
521,753
|
733,732
|
1,126,802
|
||||||||||||||||||
Total current liabilities
|
3,498,620
|
4,612,687
|
2,750,262
|
3,231,040
|
6,240,443
|
7,815,424
|
||||||||||||||||||
Long-term debt
|
240,143
|
329,157
|
398,793
|
448,098
|
634,966
|
773,294
|
||||||||||||||||||
Long-term operating lease liabilities
|
41,192
|
36,890
|
273,668
|
253,369
|
314,836
|
290,259
|
||||||||||||||||||
Accrued pension and severance costs
|
34,211
|
34,637
|
290,444
|
219,466
|
324,655
|
254,103
|
||||||||||||||||||
Deferred income taxes
|
391,883
|
359,060
|
173,022
|
120,576
|
549,538
|
366,761
|
||||||||||||||||||
Future insurance policy benefits and other
|
6,246,047
|
6,599,977
|
–
|
–
|
6,246,047
|
6,599,977
|
||||||||||||||||||
Policyholders’ account in the life insurance business
|
3,642,271
|
4,331,065
|
–
|
–
|
3,642,271
|
4,331,065
|
||||||||||||||||||
Other
|
21,843
|
18,234
|
289,574
|
296,785
|
289,285
|
294,302
|
||||||||||||||||||
Total liabilities
|
14,116,210
|
16,321,707
|
4,175,763
|
4,569,334
|
18,242,041
|
20,725,185
|
||||||||||||||||||
Redeemable noncontrolling interest
|
–
|
–
|
7,767
|
8,179
|
7,767
|
8,179
|
||||||||||||||||||
Equity:
|
||||||||||||||||||||||||
Stockholders’ equity of Financial Services
|
1,790,333
|
1,768,300
|
–
|
–
|
–
|
–
|
||||||||||||||||||
Stockholders’ equity of Sony without Financial Services
|
–
|
–
|
3,159,071
|
4,396,814
|
–
|
–
|
||||||||||||||||||
Sony Group Corporation’s stockholders’ equity
|
–
|
–
|
–
|
–
|
4,125,306
|
5,575,839
|
||||||||||||||||||
Noncontrolling interests
|
2,205
|
2,930
|
30,433
|
42,707
|
664,229
|
45,637
|
||||||||||||||||||
Total equity
|
1,792,538
|
1,771,230
|
3,189,504
|
4,439,521
|
4,789,535
|
5,621,476
|
||||||||||||||||||
Total liabilities and equity
|
¥
|
15,908,748
|
¥
|
18,092,937
|
¥
|
7,373,034
|
¥
|
9,017,034
|
¥
|
23,039,343
|
¥
|
26,354,840
|
(Millions of yen)
|
||||||||||||||||||||||||
Fiscal year ended March 31 | ||||||||||||||||||||||||
Financial Services
|
Sony without
Financial Services
|
Consolidated
|
||||||||||||||||||||||
2020
|
2021
|
2020
|
2021
|
2020
|
2021
|
|||||||||||||||||||
Financial services revenue
|
¥
|
1,307,748
|
¥
|
1,668,921
|
¥
|
–
|
¥
|
–
|
¥
|
1,299,847
|
¥
|
1,661,520
|
||||||||||||
Net sales and operating revenue
|
–
|
–
|
6,965,971
|
7,344,111
|
6,960,038
|
7,337,840
|
||||||||||||||||||
1,307,748
|
1,668,921
|
6,965,971
|
7,344,111
|
8,259,885
|
8,999,360
|
|||||||||||||||||||
Cost of sales
|
–
|
–
|
4,764,014
|
5,083,615
|
4,753,174
|
5,072,596
|
||||||||||||||||||
Selling, general and administrative
|
–
|
–
|
1,497,764
|
1,465,450
|
1,502,625
|
1,469,955
|
||||||||||||||||||
Financial services expenses
|
1,179,776
|
1,496,364
|
–
|
–
|
1,171,875
|
1,488,963
|
||||||||||||||||||
Other operating (income) expenses, net
|
(1,729
|
)
|
7,975
|
(3,841
|
)
|
(507
|
)
|
(3,611
|
)
|
7,468
|
||||||||||||||
1,178,047
|
1,504,339
|
6,257,937
|
6,548,558
|
7,424,063
|
8,038,982
|
|||||||||||||||||||
Equity in net income (loss) of affiliated companies
|
(104
|
)
|
–
|
9,741
|
11,487
|
9,637
|
11,487
|
|||||||||||||||||
Operating income
|
129,597
|
164,582
|
717,775
|
807,040
|
845,459
|
971,865
|
||||||||||||||||||
Other income (expenses), net
|
(20
|
)
|
(84
|
)
|
(28,299
|
)
|
240,402
|
(46,009
|
)
|
220,505
|
||||||||||||||
Income before income taxes
|
129,577
|
164,498
|
689,476
|
1,047,442
|
799,450
|
1,192,370
|
||||||||||||||||||
Income taxes
|
36,311
|
47,068
|
141,552
|
(46,365
|
)
|
177,190
|
995
|
|||||||||||||||||
Net income
|
93,266
|
117,430
|
547,924
|
1,093,807
|
622,260
|
1,191,375
|
||||||||||||||||||
Less - Net income attributable to noncontrolling interests
|
483
|
695
|
7,092
|
3,552
|
40,069
|
19,599
|
||||||||||||||||||
Net income of Financial Services
|
¥
|
92,783
|
¥
|
116,735
|
¥
|
–
|
¥
|
–
|
¥ | – | ¥ | – | ||||||||||||
Net income of Sony without Financial Services
|
¥ | – | ¥ | – |
¥
|
540,832
|
¥
|
1,090,255
|
¥ | – |
¥
|
– | ||||||||||||
Net income attributable to Sony Group Corporation's stockholders
|
¥ | – | ¥ | – |
¥
|
–
|
¥
|
–
|
¥
|
582,191
|
¥
|
1,171,776
|
Three months ended March 31
|
||||||||||||||||||||||||
Financial Services
|
Sony without
Financial Services
|
Consolidated
|
||||||||||||||||||||||
2020
|
2021
|
2020
|
2021
|
2020
|
2021
|
|||||||||||||||||||
Financial services revenue
|
¥
|
186,404
|
¥
|
422,943
|
¥
|
–
|
¥
|
–
|
¥
|
184,556
|
¥
|
421,065
|
||||||||||||
Net sales and operating revenue
|
–
|
–
|
1,565,748
|
1,801,399
|
1,564,184
|
1,799,354
|
||||||||||||||||||
186,404
|
422,943
|
1,565,748
|
1,801,399
|
1,748,740
|
2,220,419
|
|||||||||||||||||||
Cost of sales
|
–
|
–
|
1,126,454
|
1,321,882
|
1,123,928
|
1,319,092
|
||||||||||||||||||
Selling, general and administrative
|
–
|
–
|
396,580
|
429,116
|
397,510
|
429,647
|
||||||||||||||||||
Financial services expenses
|
176,513
|
387,964
|
–
|
–
|
174,664
|
386,086
|
||||||||||||||||||
Other operating (income) expenses, net
|
(1,771
|
)
|
7,913
|
20,232
|
16,046
|
20,406
|
23,959
|
|||||||||||||||||
174,742
|
395,877
|
1,543,266
|
1,767,044
|
1,716,508
|
2,158,784
|
|||||||||||||||||||
Equity in net income of affiliated companies
|
417
|
–
|
2,798
|
4,845
|
3,215
|
4,845
|
||||||||||||||||||
Operating income
|
12,079
|
27,066
|
25,280
|
39,200
|
35,447
|
66,480
|
||||||||||||||||||
Other income (expenses), net
|
(5
|
)
|
(21
|
)
|
(39,424
|
)
|
29,016
|
(39,430
|
)
|
28,996
|
||||||||||||||
Income (Loss) before income taxes
|
12,074
|
27,045
|
(14,144
|
)
|
68,216
|
(3,983
|
)
|
95,476
|
||||||||||||||||
Income taxes
|
2,077
|
9,454
|
(21,129
|
)
|
(21,170
|
)
|
(19,726
|
)
|
(11,646
|
)
|
||||||||||||||
Net income
|
9,997
|
17,591
|
6,985
|
89,386
|
15,743
|
107,122
|
||||||||||||||||||
Less - Net income (loss) attributable to noncontrolling interests
|
224
|
195
|
(625
|
)
|
(72
|
)
|
3,099
|
122
|
||||||||||||||||
Net income of Financial Services
|
¥
|
9,773
|
¥
|
17,396
|
¥
|
–
|
¥ | – |
¥
|
– | ¥ | – | ||||||||||||
Net income of Sony without Financial Services
|
¥
|
– | ¥ | – |
¥
|
7,610
|
¥
|
89,458
|
¥
|
– | ¥ | – | ||||||||||||
Net income attributable to Sony Group Corporation's stockholders
|
¥
|
– |
¥
|
– |
¥
|
–
|
¥
|
– |
¥
|
12,644
|
¥
|
107,000
|
|
(Millions of yen) | |||||||||||||||||||||||
Fiscal year ended March 31
|
||||||||||||||||||||||||
Financial Services
|
Sony without
Financial Services
|
Consolidated
|
||||||||||||||||||||||
2020
|
2021
|
2020
|
2021
|
2020
|
2021
|
|||||||||||||||||||
Cash flows from operating activities:
|
||||||||||||||||||||||||
Net income (loss)
|
¥
|
93,266
|
¥
|
117,430
|
¥
|
547,924
|
¥
|
1,093,807
|
¥
|
622,260
|
¥
|
1,191,375
|
||||||||||||
Adjustments to reconcile net income (loss) to net cash
|
||||||||||||||||||||||||
provided by (used in) operating activities:
|
||||||||||||||||||||||||
Depreciation and amortization, including amortization of
|
||||||||||||||||||||||||
deferred insurance acquisition costs and contract costs
|
106,667
|
59,885
|
309,975
|
330,808
|
416,642
|
390,693
|
||||||||||||||||||
Amortization of film costs
|
–
|
–
|
329,809
|
273,044
|
329,809
|
273,044
|
||||||||||||||||||
Other operating (income) expenses, net
|
(1,729
|
)
|
7,975
|
(3,841
|
)
|
(507
|
)
|
(3,611
|
)
|
7,468
|
||||||||||||||
(Gain) loss on marketable securities and
|
||||||||||||||||||||||||
securities investments, net
|
93,088
|
(478,321
|
)
|
20,177
|
(247,033
|
)
|
113,265
|
(725,354
|
)
|
|||||||||||||||
Changes in assets and liabilities:
|
||||||||||||||||||||||||
(Increase) decrease in notes, accounts receivable, trade
|
||||||||||||||||||||||||
and contract assets
|
5,947
|
(4,594
|
)
|
55,466
|
(40,908
|
)
|
62,654
|
(37,779
|
)
|
|||||||||||||||
(Increase) decrease in inventories
|
–
|
–
|
40,315
|
(57,007
|
)
|
40,315
|
(57,007
|
)
|
||||||||||||||||
(Increase) decrease in film costs
|
–
|
–
|
(361,194
|
)
|
(280,541
|
)
|
(361,194
|
)
|
(280,541
|
)
|
||||||||||||||
Increase (decrease) in notes and accounts
|
||||||||||||||||||||||||
payable, trade
|
–
|
–
|
(91,435
|
)
|
211,939
|
(91,435
|
)
|
211,939
|
||||||||||||||||
Increase (decrease) in future insurance policy
|
||||||||||||||||||||||||
benefits and other
|
520,683
|
905,343
|
–
|
–
|
520,683
|
905,343
|
||||||||||||||||||
(Increase) decrease in deferred insurance
|
||||||||||||||||||||||||
acquisition costs
|
(99,433
|
)
|
(102,289
|
)
|
–
|
–
|
(99,433
|
)
|
(102,289
|
)
|
||||||||||||||
(Increase) decrease in marketable securities held
|
||||||||||||||||||||||||
in the life insurance business
|
(124,270
|
)
|
(156,132
|
)
|
–
|
–
|
(124,270
|
)
|
(156,132
|
)
|
||||||||||||||
Other
|
10,021
|
(101,649
|
)
|
(84,346
|
)
|
(161,425
|
)
|
(75,940
|
)
|
(270,610
|
)
|
|||||||||||||
Net cash provided by (used in) operating activities
|
604,240
|
247,648
|
762,850
|
1,122,177
|
1,349,745
|
1,350,150
|
||||||||||||||||||
Cash flows from investing activities:
|
||||||||||||||||||||||||
Payments for purchases of fixed assets
|
(21,822
|
)
|
(18,564
|
)
|
(420,149
|
)
|
(493,740
|
)
|
(439,761
|
)
|
(512,239
|
)
|
||||||||||||
Payments for investments and advances
|
(1,319,888
|
)
|
(1,631,017
|
)
|
(48,853
|
)
|
(103,143
|
)
|
(1,367,915
|
)
|
(1,734,160
|
)
|
||||||||||||
Proceeds from sales or return of investments and
|
||||||||||||||||||||||||
collections of advances
|
343,740
|
449,081
|
94,813
|
20,309
|
438,553
|
469,390
|
||||||||||||||||||
Other
|
8,873
|
72
|
11,100
|
(4,579
|
)
|
16,845
|
(4,507
|
)
|
||||||||||||||||
Net cash provided by (used in) investing activities
|
(989,097
|
)
|
(1,200,428
|
)
|
(363,089
|
)
|
(581,153
|
)
|
(1,352,278
|
)
|
(1,781,516
|
)
|
||||||||||||
Cash flows from financing activities:
|
||||||||||||||||||||||||
Increase (decrease) in borrowings, net
|
193,709
|
462,895
|
(79,752
|
)
|
201,364
|
113,724
|
664,259
|
|||||||||||||||||
Increase (decrease) in deposits from customers, net
|
258,720
|
467,286
|
–
|
–
|
258,720
|
467,286
|
||||||||||||||||||
Dividends paid
|
(27,189
|
)
|
(30,454
|
)
|
(49,574
|
)
|
(61,288
|
)
|
(49,574
|
)
|
(61,288
|
)
|
||||||||||||
Other
|
61
|
232
|
(247,754
|
)
|
(392,678
|
)
|
(257,212
|
)
|
(403,290
|
)
|
||||||||||||||
Net cash provided by (used in) financing activities
|
425,301
|
899,959
|
(377,080
|
)
|
(252,602
|
)
|
65,658
|
666,967
|
||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents
|
–
|
–
|
(21,643
|
)
|
36,668
|
(21,643
|
)
|
36,668
|
||||||||||||||||
Net increase (decrease) in cash and cash equivalents,
|
||||||||||||||||||||||||
including restricted
|
40,444
|
(52,821
|
)
|
1,038
|
325,090
|
41,482
|
272,269
|
|||||||||||||||||
Cash and cash equivalents, including restricted,
|
||||||||||||||||||||||||
at beginning of the fiscal year
|
509,595
|
550,039
|
964,218
|
965,256
|
1,473,813
|
1,515,295
|
||||||||||||||||||
Cash and cash equivalents, including restricted,
|
||||||||||||||||||||||||
at end of the fiscal year
|
550,039
|
497,218
|
965,256
|
1,290,346
|
1,515,295
|
1,787,564
|
||||||||||||||||||
Less - restricted cash and cash equivalents,
|
||||||||||||||||||||||||
included in other current assets and other assets
|
–
|
–
|
2,938
|
582
|
2,938
|
582
|
||||||||||||||||||
Cash and cash equivalents at end of the fiscal year
|
¥
|
550,039
|
¥
|
497,218
|
¥
|
962,318
|
¥
|
1,289,764
|
¥
|
1,512,357
|
¥
|
1,786,982
|
|
Yen in millions
|
|||||||||||||||||||
|
March 31,
2020
|
Impact of Adoption
|
April 1,
2020
|
|||||||||||||||||
ASU 2016-13
|
ASU 2019-02
|
Total
|
||||||||||||||||||
ASSETS
|
||||||||||||||||||||
Current assets:
|
||||||||||||||||||||
Notes and accounts receivable, trade and contract assets
|
1,028,793
|
-
|
-
|
-
|
1,028,793
|
|||||||||||||||
Allowance for credit losses *
|
(25,873
|
)
|
(280
|
)
|
-
|
(280
|
)
|
(26,153
|
)
|
|||||||||||
Inventories
|
589,969
|
-
|
(31,517
|
)
|
(31,517
|
)
|
558,452
|
|||||||||||||
Other receivables
|
188,106
|
(30
|
)
|
-
|
(30
|
)
|
188,076
|
|||||||||||||
Prepaid expenses and other current assets
|
594,021
|
(12
|
)
|
-
|
(12
|
)
|
594,009
|
|||||||||||||
Total current assets
|
5,735,145
|
(322
|
)
|
(31,517
|
)
|
(31,839
|
)
|
5,703,306
|
||||||||||||
Film costs
|
427,336
|
-
|
31,517
|
31,517
|
458,853
|
|||||||||||||||
Investments and advances:
|
||||||||||||||||||||
Securities investments and other
|
12,526,210
|
780
|
-
|
780
|
12,526,990
|
|||||||||||||||
Allowance for credit losses
|
-
|
(6,341
|
)
|
-
|
(6,341
|
)
|
(6,341
|
)
|
||||||||||||
Total investments and advances
|
12,734,132
|
(5,561
|
)
|
-
|
(5,561
|
)
|
12,728,571
|
|||||||||||||
Other assets:
|
||||||||||||||||||||
Deferred income taxes
|
210,372
|
45
|
-
|
45
|
210,417
|
|||||||||||||||
Other
|
340,005
|
(721
|
)
|
-
|
(721
|
)
|
339,284
|
|||||||||||||
Total other assets
|
3,234,086
|
(676
|
)
|
-
|
(676
|
)
|
3,233,410
|
|||||||||||||
Total assets
|
23,039,343
|
(6,559
|
)
|
-
|
(6,559
|
)
|
23,032,784
|
|||||||||||||
LIABILITIES
|
||||||||||||||||||||
Deferred income taxes
|
549,538
|
(1,504
|
)
|
-
|
(1,504
|
)
|
548,034
|
|||||||||||||
Total liabilities
|
18,242,041
|
(1,504
|
)
|
-
|
(1,504
|
)
|
18,240,537
|
|||||||||||||
EQUITY
|
||||||||||||||||||||
Sony Group Corporation’s stockholders’ equity:
|
||||||||||||||||||||
Retained earnings
|
2,768,856
|
(3,669
|
)
|
-
|
(3,669
|
)
|
2,765,187
|
|||||||||||||
Total Sony Group Corporation’s stockholders’ equity
|
4,125,306
|
(3,669
|
)
|
-
|
(3,669
|
)
|
4,121,637
|
|||||||||||||
Noncontrolling interests
|
664,229
|
(1,386
|
)
|
-
|
(1,386
|
)
|
662,843
|
|||||||||||||
Total equity
|
4,789,535
|
(5,055
|
)
|
-
|
(5,055
|
)
|
4,784,480
|
|||||||||||||
Total liabilities and equity
|
23,039,343
|
(6,559
|
)
|
-
|
(6,559
|
)
|
23,032,784
|
(Thousands of shares)
|
||||||||
Fiscal year ended March 31
|
||||||||
Net income attributable to Sony Group Corporation’s stockholders
|
2020
|
2021
|
||||||
— Basic
|
1,234,408
|
1,230,480
|
||||||
— Diluted
|
1,262,255
|
1,250,692
|
(Thousands of shares)
|
||||||||
Three months ended March 31
|
||||||||
Net income attributable to Sony Group Corporation’s stockholders
|
2020
|
2021
|
||||||
— Basic
|
1,224,106
|
1,238,284
|
||||||
— Diluted
|
1,251,684
|
1,252,372
|
(Billions of yen, except per share amounts)
|
||||||||||||
Fiscal Year ended March 31
|
||||||||||||
2020
|
2021
|
Change
|
||||||||||
Sales
|
¥
|
8,259.9
|
¥
|
8,999.4
|
¥
|
+739.5
|
||||||
Operating income
|
845.5
|
971.9
|
+126.4
|
|||||||||
Income before income taxes
|
799.5
|
1,192.4
|
+392.9
|
|||||||||
Net income attributable to Sony Group Corporation’s stockholders
|
582.2
|
1,171.8
|
+589.6
|
|||||||||
Net income attributable to Sony Group Corporation’s stockholders per share of common stock:
|
||||||||||||
- Basic
|
¥
|
471.64
|
¥
|
952.29
|
+480.65
|
|||||||
- Diluted
|
461.23
|
936.90
|
+475.67
|
Fiscal Year ended March 31
|
|||||||||
2020
|
2021
|
Change
|
|||||||
The average rate of yen
|
|||||||||
1 U.S. dollar
|
¥
|
108.7
|
¥
|
106.1
|
2.6 yen appreciation
|
||||
1 Euro
|
120.8
|
123.7
|
2.9 yen depreciation
|
・
|
Gain on the sale of a portion of shares of Pledis Entertainment Co., Ltd. (“Pledis”): 6.5 billion yen (Music segment)
|
・
|
Gain recorded in connection with a business transfer: 5.4 billion yen (Music segment)
|
・
|
An impairment charge against long-lived assets in the nursing care business: 7.4 billion yen (Financial Services segment)
|
・
|
Inventory write-downs of certain image sensors for mobile products: 7.2 billion yen (I&SS segment)
|
・
|
Expenses related to the Sony Global Relief Fund for COVID-19: 5.3 billion yen (Corporate and elimination)
|
・
|
Remeasurement and realized gains resulting from the public listing and sale of a portion of shares of SRE Holdings Corporation: 17.3 billion yen (All Other)
|
・
|
Realized and remeasurement gains resulting from the transfer of a portion of shares of NSF Engagement Corporation: 6.3 billion yen (Corporate and elimination)
|
(Billions of yen)
|
||||||||||||||
March 31, 2021
Results
|
March 31, 2022
April Forecast
|
Change from
March 31, 2021 Results
|
||||||||||||
(US GAAP)
|
(IFRS)
|
(Reference)
|
||||||||||||
Sales
|
¥
|
8,999.4
|
¥
|
9,700
|
+ ¥700.6 bil
|
+ 7.8
|
%
|
|||||||
Operating income
|
971.9
|
930
|
- 41.9 bil
|
- 4.3
|
||||||||||
Income before income taxes
|
1,192.4
|
905
|
- 287.4 bil
|
- 24.1
|
||||||||||
Net income attributable to Sony Group Corporation’s stockholders
|
1,171.8
|
660
|
- 511.8 bil
|
- 43.7
|
For all segments excluding the Financial Services segment *
|
March 31, 2021
Results
|
March 31, 2022
April Forecast
|
Change from March 31,
2021 Results
|
||||||||||
Net cash provided by operating activities
|
1,122.2
|
910
|
- ¥212.2 bil
|
- 18.9
|
%
|
(For your reference)
Average foreign currency exchange rates
for the fiscal year ended March 31, 2021 |
Assumed foreign currency exchange rates
for the fiscal year ending March 31, 2022 |
|
1 U.S. dollar
|
106.1 yen
|
approximately 107 yen
|
1 Euro
|
123.7 yen
|
approximately 126 yen
|
(Billions of yen)
|
||||||||||||
EP&S
|
All Other
|
Corporate and elimination
|
||||||||||
Before Reconciliation
|
||||||||||||
Sales
|
1,920.7
|
229.3
|
-187.0
|
|||||||||
Operating income
|
139.2
|
11.4
|
-99.9
|
|||||||||
Reconciliation
|
||||||||||||
Sales
|
145.7
|
-128.5
|
-17.2
|
|||||||||
Operating income
|
-5.1
|
-3.5
|
8.6
|
|||||||||
Reclassified
|
||||||||||||
Sales
|
2,066.5
|
100.7
|
-204.2
|
|||||||||
Operating income
|
134.1
|
7.8
|
-91.2
|
(i) |
Sony’s ability to maintain product quality and customer satisfaction with its products and services;
|
(ii) |
Sony’s ability to continue to design and develop and win acceptance of, as well as achieve sufficient cost reductions for, its products and services, including image
sensors, game and network platforms, smartphones and televisions, which are offered in highly competitive markets characterized by severe price competition and continual new product and service introductions, rapid development
in technology and subjective and changing customer preferences;
|
(iii) |
Sony’s ability to implement successful hardware, software, and content integration strategies, and to develop and implement successful sales and distribution strategies in
light of new technologies and distribution platforms;
|
(iv) |
the effectiveness of Sony’s strategies and their execution, including but not limited to the success of Sony’s acquisitions, joint ventures, investments, capital
expenditures, restructurings and other strategic initiatives;
|
(v) |
changes in laws, regulations and government policies in the markets in which Sony and its third-party suppliers, service providers and business partners operate, including
those related to taxation, as well as growing consumer focus on corporate social responsibility;
|
(vi) |
Sony’s continued ability to identify the products, services and market trends with significant growth potential, to devote sufficient resources to research and
development, to prioritize investments and capital expenditures correctly and to recoup its investments and capital expenditures, including those required for technology development and product capacity;
|
(vii) |
Sony’s reliance on external business partners, including for the procurement of parts, components, software and network services for its products or services, the
manufacturing, marketing and distribution of its products, and its other business operations;
|
(viii) |
the global economic and political environment in which Sony operates and the economic and political conditions in Sony’s markets, particularly levels of consumer
spending;
|
(ix) |
Sony’s ability to meet operational and liquidity needs as a result of significant volatility and disruption in the global financial markets or a ratings downgrade;
|
(x) |
Sony’s ability to forecast demands, manage timely procurement and control inventories;
|
(xi) |
foreign exchange rates, particularly between the yen and the U.S. dollar, the euro and other currencies in which Sony makes significant sales and incurs production
costs, or in which Sony’s assets, liabilities and operating results are denominated;
|
(xii) |
Sony’s ability to recruit, retain and maintain productive relations with highly skilled personnel;
|
(xiii) |
Sony’s ability to prevent unauthorized use or theft of intellectual property rights, to obtain or renew licenses relating to intellectual property rights and to defend
itself against claims that its products or services infringe the intellectual property rights owned by others;
|
(xiv) |
the impact of changes in interest rates and unfavorable conditions or developments (including market fluctuations or volatility) in the Japanese equity markets on
the revenue and operating income of the Financial Services segment;
|
(xv) |
shifts in customer demand for financial services such as life insurance and Sony’s ability to conduct successful asset liability management in the Financial Services
segment;
|
(xvi) |
risks related to catastrophic disasters, pandemic disease or similar events;
|
(xvii) |
the ability of Sony, its third-party service providers or business partners to anticipate and manage cybersecurity risk, including the risk of unauthorized access to
Sony’s business information and the personally identifiable information of its employees and customers, potential business disruptions or financial losses; and
|
(xviii) |
the outcome of pending and/or future legal and/or regulatory proceedings.
|
1 Year Sony Chart |
1 Month Sony Chart |
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