Q2 FY2021 Consolidated Financial Results
(Three months ended September 30, 2021)
October 28, 2021
Sony Group Corporation
Please be aware that, in the following remarks, statements made with respect to Sony's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. These statements are based on management's assumptions in light of the information currently available to it, and, therefore, you should not place undue reliance on them. Sony cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements.
For additional information as to risks and uncertainties, as well as other factors that could cause actual results to differ, please refer to today's press release, which can be accessed by visiting www.sony.com/en/SonyInfo/IR.
1
- Q2 FY2021 Consolidated Financial Results and
FY2021 Consolidated Results Forecast
v
- Segments Outlook
• Today, I will discuss the following topics.
2
Q2 FY2021 Consolidated Results
(Bln Yen) | |||
Q2 FY20 | Q2 FY21 | Change | |
Sales* | 2,105.1 | 2,369.4 | +264.2 bln yen |
(+13%) | |||
Operating income | 315.2 | 318.5 | +3.2 bln yen |
Income before income taxes | (+1%) | ||
303.7 | 283.1 | -20.6 bln yen | |
(-7%) | |||
Net income attributable to | 458.6 | 213.1 | -245.5bln yen |
Sony Group Corporationʼs stockholders | |||
(-54%) | |||
Net income attributable to Sony Group Corporationʼs | 367.08 yen | 170.26 yen | -196.82yen |
stockholders per share of common stock (diluted) | |||
Average Rate | |||
1 US dollar | 106.2 yen | 110.1 yen | |
1 Euro | 124.1 yen | 129.8 yen | |
* "Sales" is used to mean "sales and financial services revenue" in accordance with International Financial Reporting Standards ("IFRS") (applies to all following pages).
- FY21 Q2 consolidated sales increased 13% compared to the same quarter of the previous fiscal year ("year-on-year") to 2 trillion 369.4 billion yen and consolidated operating income increased 3.2 billion yen year-on-year to 318.5 billion yen, both record highs for the second quarter.
- Income before income taxes decreased 20.6 billion yen year-on-year to 283.1 billion yen, primarily due to a deterioration of valuation gains and losses on securities investments.
- Net income attributable to Sony Group Corporation's shareholders was 213.1 billion yen, a decrease of 245.5 billion yen compared to the same quarter of the previous fiscal year which included the recording of a 214.3 billion yen reversal of valuation allowances recorded against deferred tax assets.
- See pages 3 to 6 of the presentation materials for a depiction of each profit metric adjusted to exclude one-time items.
3
Q2 FY2021 Results by Segment
(Bln Yen) | |||||||
Q2 FY20 | Q2 FY21 | Change | FX Impact | ||||
Game & Network Services (G&NS) | Sales | 506.6 | 645.4 | +138.8 | +20.7 | ||
Operating income | 105.4 | 82.7 | -22.7 | +3.4 | |||
Music | Sales | 230.9 | 271.6 | +40.7 | +6.3 | ||
Operating income | 54.3 | 50.6 | -3.7 | ||||
Pictures | Sales | 186.6 | 260.7 | +74.2 | +9.1 | ||
Operating income | 32.8 | 31.6 | -1.2 | ||||
Electronics Products & Solutions | Sales | 533.4 | 581.9 | +48.5 | +20.0 | ||
(EP&S) | Operating income | 53.4 | 72.7 | +19.3 | +7.6 | ||
Imaging & Sensing Solutions (I&SS) | Sales | 307.1 | 278.3 | -28.8 | +8.7 | ||
Operating income | 50.8 | 49.7 | -1.0 | -0.3 | |||
Financial Services | Revenue | 371.1 | 368.4 | -2.7 | |||
Operating income | 37.0 | 43.1 | +6.0 | ||||
All Other | Sales | 22.9 | 24.5 | +1.6 | |||
Operating income | 1.5 | 8.6 | +7.1 | ||||
Corporate and elimination | Sales | -53.5 | -61.4 | -8.0 | |||
Operating income | -19.9 | -20.5 | -0.6 | ||||
Consolidated total | Sales | 2,105.1 | 2,369.4 | +264.2 | |||
Operating income | 315.2 | 318.5 | +3.2 | ||||
Due to organizational changes as of April 1, 2021, from Q1 FY21, Sony transferred some of the businesses and functions previously included within All Other and Corporate and elimination to the EP&S segment. Sales and operating income (loss) of each segment for FY20 are presented to conform to the organizational structure for FY21 (applies to all following pages).
Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated. Operating income in each business segment represents operating income reported before intersegment transactions are eliminated and excludes unallocated corporate expenses (applies to all following pages).
• This slide shows the results by segment for FY21 Q2.
4
FY2021 Consolidated Results Forecast
(Bln Yen) | |||
FY20 | FY21 | FY21 | Change from |
August FCT | October FCT | August FCT | |
Sales | 8,998.7 | 9,700 | 9,900 | +200 bln yen | ||||
(+2%) | ||||||||
Operating income | 955.3 | 980 | 1,040 | +60 bln yen | ||||
(+6%) | ||||||||
Income before income taxes | 998.0 | 955 | 990 | +35 bln yen | ||||
(+4%) | ||||||||
Net income attributable to Sony Group | 1,029.6 | v | 700 | 730 | +30 bln yen | |||
Corporationʼs stockholders | (+4%) | |||||||
Operating Cash Flow | 1,150.3 | 890 | 890 | - | ||||
(Sony without Financial Services) | ||||||||
Average rate | Actual | Assumption | Assumption | Dividend per Share | ||||
(Q2-Q4 FY21) | (Q3-Q4 FY21) | |||||||
1 US dollar | 106.1 yen | Approx. | Approx. | |||||
Interim | 30 yen | |||||||
110 yen | 111 yen | |||||||
1 Euro | 123.7 yen | Approx. | Approx. | |||||
Year-end | Undecided | |||||||
131 yen | 130 yen | |||||||
Consolidated Operating Cash Flow (Sony without Financial Services) is not a measure in accordance with IFRS. However, Sony believes that this disclosure may be useful information to investors.
- Next, I will show the consolidated results forecast for FY21.
- Consolidated sales are expected to increase 200 billion yen compared to our previous forecast to 9 trillion 900 billion yen and operating income is expected to increase 60 billion yen to 1 trillion 40 billion yen.
- We have also upwardly revised our forecast for income before income taxes to 990 billion yen and our forecast for net income attributable to Sony Group Corporation's shareholders to 730 billion yen.
- Our forecast for consolidated operating cash flow excluding the Financial Services segment is unchanged at 890 billion yen.
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Sony Group Corporation published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 13:12:03 UTC.