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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Delayed Japan Exchange  -  05/17 02:00:00 am EDT
11240.00 JPY   +0.54%
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India's Zee cancels board meeting on quarterly results

10/26/2021 | 04:35am EDT
FILE PHOTO: A guard stands next to a banner of Zee television outside a film studio in Mumbai

BENGALURU (Reuters) - India's Zee Entertainment Enterprises Ltd said on Tuesday its board meeting to consider and approve the firm's financial results for the second quarter has been cancelled due to lack of quorum.

The media company has been embroiled in a legal dispute regarding a board revamp and management changes with two Invesco-controlled funds, which together own nearly 18% of the firm.

The Mumbai-headquartered company was scheduled to hold its board meeting on Wednesday, Oct. 27.

Zee did not immediately respond to an email seeking more details on the lack of quorum but said in its exchange filing that the next date of the meeting would be informed with a fresh notice.

In September, Sony's India entertainment unit announced a deal to buy a majority stake in Zee to become the country's largest broadcaster.

U.S. investment firm Invesco had publicly lashed out at Zee and objected to some terms of its proposed merger with Sony, weeks after the deal announcement.

Earlier this year, Invesco had tried to forge a deal between companies owned by Mukesh Ambani's Reliance Industries and Zee.

(Reporting by Shivani Singh in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INVESCO LTD. 2.37% 18.1 Delayed Quote.-23.15%
RELIANCE INDUSTRIES LTD 4.20% 2529.15 Delayed Quote.2.49%
SONY GROUP CORPORATION 0.54% 11240 Delayed Quote.-22.76%
ZEE ENTERTAINMENT ENTERPRISES LIMITED 2.65% 246.05 Delayed Quote.-25.28%
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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 10 010 B 77 523 M 77 523 M
Net income 2022 875 B 6 776 M 6 776 M
Net Debt 2022 634 B 4 908 M 4 908 M
P/E ratio 2022 15,8x
Yield 2022 0,56%
Capitalization 13 898 B 108 B 108 B
EV / Sales 2022 1,45x
EV / Sales 2023 1,31x
Nbr of Employees 109 700
Free-Float 97,1%
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Technical analysis trends SONY GROUP CORPORATION
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Mean consensus BUY
Number of Analysts 19
Last Close Price 11 180,00 JPY
Average target price 16 112,63 JPY
Spread / Average Target 44,1%
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Managers and Directors
Kenichiro Yoshida Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Representative Director & Vice President
Makoto Toyoda Chief Information Officer & Executive Officer
Tsuyoshi Kodera Head-Information Systems & Security
Hiroaki Kitano Chief Technology Officer
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