Sony : Corporate Strategy Meeting Presentation (FY2023)
May 18, 2023 at 09:20 am EDT
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Chairman and CEO,
Sony Group Corporation
Kenichiro Yoshida
Thank you for joining us today.
Today, I will talk about the direction of management, and after that, President Totoki will talk about growth strategies and other matters.
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SOUND LONG-TERM
The expansion of Sony's business that originated in sound and long-term management perspective (since our founding generation)
First, I would like to talk about how our business has spread from the origins of sound, and about our long-term management perspective.
Our company name and brand "SONY" is derived from the Latin word "SONUS" which means sound.
It can be said that Sony expanded its electronics business from "sound" products such as the tape recorder, transistor radio and Walkman.
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1968 1988 2008 2018
Joint Venture
Sound is also the origin of our entertainment.
The launch of CBS/Sony Records Co., Ltd. in 1968 was the starting point of our entertainment business. Since then, we have expanded our music business every 10 to 20 years, including the acquisition of CBS Records in the United States.
With the acquisition of Columbia Pictures in 1989, the entertainment business expanded to pictures.
It then expanded to games by the release of PlayStation in 1994.
I believe that the game business, which started as a joint venture between Sony in electronics and Sony Music Entertainment Japan, was the greatest synergy that Sony achieved in the 20th century.
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Growth of Entertainment Businesses
6.4
Trillion yen
Pictures
Music
Gaming
Sony adopted International Financial Reporting Standards (IFRS) starting in FY21 in lieu of the previously applied generally accepted accounting principles in the United States. The figures for FY20 are also presented in accordance with IFRS.
These three entertainment businesses, which were developed in the 20th century, have accelerated their growth especially since FY2012.The last fiscal year both sales and operating income exceeded 50% of the consolidated group.
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Sony Group Corporation published this content on 18 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2023 13:18:06 UTC.
Sony Group Corporation (formerly Sony Corporation) is a world leader in designing, manufacturing, and selling electronics and entertainment products. Net sales break down by activity as follows:
- game sales (28.9%): game consoles, softwares and consumables;
- sale of multimedia products (21.1%): televisions (37.3% of sales), mobile telecommunications equipment (18.8%), still and video cameras (17.7%), audio and video equipment (16.5%) and other (9.7%);
- music production and distribution (10.3%; Sony Music Entertainment);
- sale of imaging and sensing solutions (10.4%);
- cinematography production and distribution and TV broadcasting (8.4%): operating primarily on behalf of Sony Pictures and Columbia Pictures;
- other (2.4%).
The remaining sales (18.5%) are from financial services.
Net sales break down geographically as follows: Japan (32.9%), China (8.5%), Asia/Pacific (9.6%), the United States (23.9%), Europe (20.2%) and other (4.9%).
SONY GROUP CORPORATION 
