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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 07/30
11375 JPY   -1.26%
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Sony : aims at 6-fold increase in global entertainment users to 1 bil.

05/25/2021 | 11:58pm EDT

Sony Group Corp. said Wednesday it aims to connect with 1 billion users globally via its gaming, anime and other entertainment services, more than a six-fold increase from the current level, as part of its drive to solidify its foundation as a creative entertainment company.

Under a business strategy unveiled Tuesday, Sony said it will spend about 2 trillion yen ($18 billion) in the next three years to March 2024 on key growth areas such as entertainment and technology.

Sony has been riding on the popularity of its PlayStation 5 game console and related software along with blockbuster animated movie based on the popular "Demon Slayer" manga series, co-distributed by a subsidiary.

"We want to increase the number of people we connect with to 1 billion from the current 160 million," Sony Group Chairman and CEO Kenichiro Yoshida told a press conference, adding that anime and gaming go together "quite well."

The coronavirus pandemic has boosted the group's sales as people spend more time playing games and using other entertainment services at home. PlayStation 5 has met robust demand since its November launch and Sony Group has set a second-year sales target at 14.80 million units globally even as a global chip shortage looms.

Changing its name from Sony Corp. in April, Sony Group performs the headquarter functions of the Japanese conglomerate encompassing financial services, gaming, entertainment and electronics. The change represents its ongoing diversification from electronics, which made the brand name Sony popular.

"Technology is important both in terms of creating content and delivering it (to consumers)," Yoshida said.

Sony has strength in image sensors used in smartphones. To foster longer-term growth, the company is placing more focus on mobility as a key area where its image sensors can contribute to the safety of cars.

Sony has unveiled a prototype electric vehicle, the Vision-S, and has conducted driving tests.

"Our contribution to ensuring the safety (of cars) will help them develop into a new entertainment sphere," Yoshida said.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials
Sales 2022 9 629 B 87 789 M 87 789 M
Net income 2022 736 B 6 707 M 6 707 M
Net cash 2022 2 722 B 24 813 M 24 813 M
P/E ratio 2022 18,8x
Yield 2022 0,54%
Capitalization 14 096 B 128 B 129 B
EV / Sales 2022 1,18x
EV / Sales 2023 1,08x
Nbr of Employees 109 700
Free-Float 98,2%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 11 375,00 JPY
Average target price 14 863,89 JPY
Spread / Average Target 30,7%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
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