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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

(6758)
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Sony in talks with AT&T to buy Crunchyroll for more than $950 mln -Nikkei

10/30/2020 | 04:58am EST
The company logo for Oracle Corp. is displayed on a screen on the floor at the NYSE in New York

TOKYO, Oct 30 (Reuters) - Sony Corp is in final talks with AT&T to acquire U.S. animation-streaming service Crunchyroll in a deal worth more than 100 billion yen ($957 million), the Nikkei business daily reported on Friday.

The acquisition would give Sony access to Crunchyroll's 70 million members around the world, allowing the Japanese entertainment and electronics conglomerate to compete better with Netflix and other global rivals, the Nikkei said.

Sony, which recently obtained exclusive rights to negotiate for Crunchyroll, hopes to leverage the new channel to distribute its own entertainment content, including films and music.

A Sony spokesman declined to comment on the report.

It bought Funimation Productions Ltd, an animation distributor with one million paying subscribers, for about $143 million in 2017.

Sony is beefing up gaming and entertainment businesses under Chief Executive Kenichiro Yoshida's strategy to increase recurring revenue streams that cushion the impact of volatile hardware sales cycles.

It raised its annual profit outlook this week, with its gaming business continuing to capture "nesting" demand and Japanese animated film "Demon Slayer" - co-distributed by Sony's music unit - making a robust start in Japan.

(Reporting by Makiko Yamazaki and Sakura Murakami Editing by David Goodman )


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
NETFLIX, INC. 0.16% 498.31 Delayed Quote.54.00%
NIKKEI 225 -0.22% 26751.24 Real-time Quote.13.33%
SONY CORPORATION -0.08% 9757 End-of-day quote.31.83%
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Financials
Sales 2021 8 477 B 81 325 M 81 325 M
Net income 2021 729 B 6 999 M 6 999 M
Net cash 2021 2 492 B 23 909 M 23 909 M
P/E ratio 2021 16,2x
Yield 2021 0,51%
Capitalization 12 036 B 116 B 115 B
EV / Sales 2021 1,13x
EV / Sales 2022 1,02x
Nbr of Employees 111 700
Free-Float 96,7%
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Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 10 602,00 JPY
Last Close Price 9 757,00 JPY
Spread / Highest target 39,4%
Spread / Average Target 8,66%
Spread / Lowest Target -18,0%
EPS Revisions
Managers
NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Senior Managing Executive Officer, Head-R&D
Makoto Toyoda Chief Information Officer & Executive Officer
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