Sony Corporation FY2024 Q2 Earnings Release

Nov, 2024 Q2FY2024 Consolidated Financial Results
(Three months ended September 30, 2024)
Sony Group Corporation
November 8, 2024

Average Rate
1 US dollar
144.4 yen 149.5 yen
1 Euro 157.2 yen 164.1 yen
Q2 FY2024 Consolidated Results
1
Sony without Financial Services Consolidated
Q2 FY23 Q2FY24 Change Q2FY23 Q2FY24 Change
Sales
*1 2,728.9 2,973.4 +244.5
（+9%） 2,828.62,905.6 +77.0
（+3%）
Operating income 247.3 389.3 +142.0
（+57%） 263.0 455.1 +192.1
（+73%）
Operating income margin 9 . 1% 13.1% +4.0 pts 9.3% 15.7% +6.4 pts
Income before income taxes 241.9 384.5 +142.6
（+59%） 257.6 450.2 +192.7
（+75%）
Net income attributable to
Sony Group Corporation’s stockholders 189.4 291.9 +102.5
（+54%） 200.1 338.5 +138.4
（+69%）
Net income attributable to Sony Group
Corporation’s stockholders per share
of common stock (diluted)
*2 30.62 yen 48.06 yen+
17.44 yen 32.35 yen 55.74 yen +23.39 yen
Adjusted
OIBDA *3 403.3 554.2 +150.9
（+37%） 425.9 626.7 +200.8
（+47%
）
Adjusted EBITDA *3 403.7 534.7 +131.0
（+32%） 426.4 607.2 +180.9
（+42%
）
Adjusted OIBDA, Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS® Acc ounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting
Standards”). However, Sony believes that these disclosures may be useful information to investors.
For further details about Adjusted OIBDA and Adjusted EBITDA including their formulas and reconciliations, see pages 23-29(applies to all following pages).
*1 “Sales” is used to mean “sales and financial services revenue” in accordance with IFRS Accounting Standards (applies to all f ollowing pages).
* 2 Sony conducted a five -for -one stock split of its common stock effective October 1, 2024, with a record date of September 30, 2 024. The above figures for Net income attributable to Sony Group Corporation’s stockholders per share of
common stock (diluted) are calculated based on the assumption that the stock split was conducted at the beginning of FY23 (applies to all following pages).
*3 The differences between Adjusted EBITDA and Adjusted OIBDAon a consolidated basis represent financial income and financial expenses (excluding interest expenses, net, and gains on rev aluation of equity instruments, net).
Adjusted EBITDA by segment is not calculated and disclosed because Sony does not include financial income and financial expen sesin its performance evaluations by segment, mainly due to the fact that Sony manages its foreign
exchange exposure centrally and globally, except for the Financial Services segment (applies to all following pages).
(Bln Yen)

Ye a r-on- year
Change Contributing Factors
(+) Better／( -) Worse
Sales +77.0 bln yen
+3 %
・ (+) Significant increases in I&SSand G&NS segments sales
・ (+) Increases in Music and ET&Ssegments sales
・ (ー ) Significant decreases in Financial Services and Pictures segments sales
On a constant currency basis
*, sales decreased approx. 1%
Operating
income +192.1 bln yen
+73
%
・ (+) Significant increases in G&NS, Financial Services and I&SSsegments operating
income
・ (+) Increases in Music and ET&Ssegments operating income
・ (ー ) Significant decrease in Pictures segment operating income
Income tax
expense +54.0 bln yen
・(ー ) Impact of a higher Japanese tax rate mainly due to a decrease in the allowable
deduction rate for tax credits
Adjusted
OIBDA +200.8 bln yen
+47 % ・(+) Significant increases in G&NS, I&SS and Financial Services segments Adjusted
OIBDA
・ (+) Increases in Music and ET&Ssegments Adjusted OIBDA
・ (ー ) Significant decrease in Pictures segment Adjusted OIBDA
Adjusted
EBITDA +180.9 bln yen
+42 %
Q2FY2024 Consolidated Results: Year -on -year Change
Effective tax rate
22% →25%
Adjusted OIBDA and Adjusted EBITDA are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors.
* For further details about the impact of foreign exchange rate fluctuations on sales and operating income (loss), see page 2 9 (applies to all following pages).
2

Adjusted Income
*1
(Q2 ・Sony without Financial Services)
Q2 FY23
Q2FY24 Change from Q2FY23
Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Adjusted
Operating income 247.3
－247.3 389.3 －389.3 +142.0 （+57%
）
+142.0
（+57%）
Income before income taxes 241.9 －241.9 384.5 －384.5 +142.6 （+59%
）
+142.6
（+59%）
Income taxes
51.6 －51.6
91.3 －
91.3
+39.7
（+77%）
+39.7
（+77%）
Net income attributable to
Sony Group Corporation’s
stockholders
189.4 －189.4 291.9 －291.9 +102.5 （+54%
）
+102.5
（+54%）
Effective tax rate
21%
Effective tax rate
21%
Effective tax rate
24%
Effective tax rate
24%
3
Adjusted Incomeand figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony be lieves that these disclosures may be useful information to investors.
*1 Adjusted Income does not include non- recurring profit and loss.
*2 For further details about non- recurring profit and loss for Sony without Financial Services, see page 4 (applies to all follo wing pages).
(Bln Yen)

Non-Recurring Profit and Loss (Sony without Financial Services)
Q2
FY23 1H
FY23 FY23 Q2
FY24 1H
FY24
Items included in operating income
(before adjustment) －
+6.0 +6.0Items included in operating income
(before adjustment)
－
－
Remeasurement gain resulting from the
consolidation of a company previously accounted for
using the equity method (Music segment ・Q1)
－ +6.0 +6.0
Items included in Financial income (expense)
－－－Items included in Financial income (expense)
－－
Items included in income before income taxes
(before adjustment) －
+6.0 +6.0Items included in income before income taxes
(before adjustment)
ー
ー
Items included in income taxes (before adjustment) －
+1.1 -6.3 Items included in income taxes
(before adjustment) ー
ー
Tax effect with regard to the above item
－+1.1 +1.3
Decrease in tax expense from the dissolution of a
subsidiary (Q3) －
－-7.6
Items included in net income attributable to
noncontrolling interests －
－－Items included in net income attributable to
noncontrolling interests
－
－
Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment) －
+4.9 +12.3 Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment)
－
－
4
(Bln Yen)
Figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony beli eves that these disclosures may be useful information to investors.

Adjusted Income
*1
(Q2 ・Consolidated)
Q2 FY23
Q2FY24 Change from Q2FY23
Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Adjusted
Operating income 263.0
－263.0 455.1 －455.1 +192.1 （+73%
）
+192.1
（+73%）
Income before income taxes 257.6 －257.6 450.2 －450.2 +192.7 （+75%
）
+192.7
（+75%）
Income taxes 56.4 －56.4 110.4
－
110.4
+54.0
（+96%）
+54.0
（+96%）
Net income attributable to
Sony Group Corporation’s
stockholders
200.1 －200.1 338.5 －338.5 +138.4 （+69%
）
+138.4
（+69%）
Effective tax rate
22%
Effective tax rate
22%
Effective tax rate
25%
Effective tax rate
25%
5
Adjusted Incomeis not a measure in accordance with IFRS Accounting Standards. However, Sony believes that this disclosure may be useful information to i nvestors.
*1 Adjusted Income does not include non- recurring profit and loss.
*2 For further details about non- recurring profit and loss for consolidated total , see page 6 (applies to all following pages).
(Bln Yen)

Non-Recurring Profit and Loss (Consolidated)
Q2
FY23 1H
FY23 FY23 Q2
FY24 1H
FY24
Items included in operating income
(before adjustment) －
+6.0 +25.8 Items included in operating income
(before adjustment)
－
－
Remeasurement gain resulting from the
consolidation of a company previously accounted for
using the equity method (Music segment ・Q1)
－ +6.0 +6.0
Realized and remeasurement gains resulting from the
transfer of a portion of shares of Sony Payment Services
Inc. (Financial Services segment ・Q4)
－ －+19.8
Items included in Financial income (expense)
－－－Items included in Financial income (expense)
－－
Items included in income before income taxes
(before adjustment) －
+6.0 +25.8 Items included in income before income taxes
(before adjustment)
－
－
Items included in income taxes (before adjustment) －
+1.3 -1.6 Items included in income taxes
(before adjustment) －
－
Tax effect with regard to the above items
－+1.3 +6.0
Decrease in tax expense from the dissolution of a
subsidiary (Q3) －
－-7.6
Items included in net income attributable to
noncontrolling interests －
－－Items included in net income attributable to
noncontrolling interests
－
－
Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment) －
+4.7 +27.4 Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment)
－
－
6
(Bln Yen)

Q2FY2024 Results by Segment
7
Q2 FY23 Q2 FY24 ChangeFX Impact
Game & Network Services
(G&NS)
Sales 954.1 1,071.5 +117.4
+33.2
Operatingincome 48.9 138.8 +89.9
+4.3
Music
Sales 408.7 448.2 +39.5
+10.7
Operatingincome 81.0 90.4 +9.4
Pictures
Sales 399.6 355.8 –
43.8
+11.0
Operatingincome 29.4 18.5 –
11.0
Entertainment, Technology &
Services (ET&S)
Sales 613.5 619.8 +6.2
+15.0
Operatingincome 61.0 70.2 +9.1
+3.5
Imaging & Sensing Solutions
( I&SS )
Sales 406.3 535.6+129.3
+29.7
Operatingincome 46.4 92.4+46.1
+22.9
All other
Sales 24.2 23.9 –
0.3
Operating income 2.1 -6.5 –
8.6
Corporate and elimination
Sales – 81.8 –
85.8 -4.0
Operating income – 21.5 –
14.4 ＋7.0
Sony without Financial
Services
*
Sales 2,728.9 2,973.4 +244.5
Operatingincome 247.3 389.3+142.0
Financial Services
* Revenue 103.9 -63.3 –
167.2
Operating income 15.7 65.7+
50.1 57
Consolidated total * Sales 2,828.6 2,905.6 +77.0
Operating
income 263.0 455.1 +192.1
(Bln Yen)
Sales in each business segment represents sales and revenue recorded before intersegment transactions are eliminated (applies
toall following pages). Operating income in each business segment represents operating income recorded
before intersegment transactions are eliminated and excludes unallocated corporate expenses (applies to all following pages).
Figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believe s that these disclosures may be useful information to investors.
* Transactions between the Financial Services segment and Sony without Financial Services are included in those respective figu resbut are eliminated in the consolidated figures. Because such eliminations are included in Corporate and
elimination in full in the above chart, the figures for Sony without Financial Services differ from the sum of the figures fo r all segments excluding the Financial Services segment (applies to all following pages).

Average Rate
1 US dollar
140.7 yen 152.6 yen
1 Euro 153.2 yen 165.8 yen
1H FY2024 Consolidated Results
8
Sony without Financial Services Consolidated
1H FY23 1HFY24 Change 1HFY23 1HFY24 Change
Sales
5,014.7 5,540.9 +526.2
（+10%） 5,792.3 5,917.2 +125.0
（+2%）
Operating income 445.9 638.5 +192.6
（+43%） 516.1 734.2 +218.1
（+42%）
Operating income margin 8.9% 11.5% +2.6 pts 8.9% 12.4% +3.5 pts
Income before income taxes 513.5 671.4 +157.9
（+31%） 533.6 767.1 +233.5
（+44%）
Net income attributable to
Sony Group Corporation’s stockholders 418.5 501.9 +83.4
（+20%） 417.7 570.1 +152.5
（+37%）
Net income attributable to Sony Group
Corporation’s stockholders per share
of common stock (diluted)
67.62 yen 82.34 yen+14.72 yen 67.48 yen 93.53 yen+26.05 yen
Adjusted
OIBDA 737.9 972.1 +234.1
（+32%） 822.0 1,081.4 +259.4
（+32%
）
Adjusted EBITDA 798.5 959.1 +160.6
（+20%） 832.6 1,068.5 +235.9
（+28%
）
Adjusted OIBDA, Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS Acco unting Standards. However, Sony believes that these disclosures may be useful information to investors.
(Bln Yen)

Adjusted Income
*
(1H ・Sony without Financial Services)
1H FY23
1HFY24 Change from 1HFY23
Before
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Adjusted
Operating income 445.9
-6.0 439.9 638.5 －638.5 +192.6 （+43%
）
+198.6
（+45%）
Income before income taxes 513.5 -6.0 507.5 671.4 －671.4 +157.9 （+31%
）
+163.9
（+32%）
Income taxes
93.8 -1.1 92.7
164.0 －
164.0
+70.2
（+75%）
+71.3
（+77%）
Net income attributable to
Sony Group Corporation’s
stockholders
418.5 -4.9 413.6 501.9 －501.9 +83.4 （+20%
）
+88.3
（+21%）
Effective tax rate
18%
Effective tax rate
18%
Effective tax rate
24%
Effective tax rate
24%
9
Adjusted Income and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards . However, Sony believes that these disclosures may be useful information to investors.
* Adjusted Income does not include non- recurring profit and loss.
(Bln Yen)

Adjusted Income
*
(1H ・Consolidated)
1H FY23
1HFY24 Change from 1HFY23
Before
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Adjusted
Operating income 516.1
-6.0 510.0 734.2 －734.2 +218.1 （+42%
）
+224.1
（+44%）
Income before income taxes 533.6 -6.0 527.6 767.1 －767.1 +233.5 （+44%
）
+239.5
（+45%）
Income taxes 114.5 -1.3 113.2 191.5
－
191.5
+76.9
（+67%）
+78.2
（+69%）
Net income attributable to
Sony Group Corporation’s
stockholders
417.7 -4.7 412.9 570.1 －570.1 +152.5 （+37%
）
+157.2
（+38%）
Effective tax rate
22%
Effective tax rate
22%
Effective tax rate
25%
Effective tax rate
25%
10
Adjusted Income is not a measure in accordance with IFRS Accounting Standards. However, Sony believes that this disclosure may be useful information to i nvestors.
* Adjusted Income does not include non- recurring profit and loss.
(Bln Yen)

1HFY2024 Results by Segment
11
1H FY23 1H FY24 ChangeFX Impact
Game & Network Services
(G&NS)
Sales 1,726.0 1,936.4 +210.5
+118.7
Operatingincome 98.1 204.1 +106.0
+5.7
Music
Sales 766.9 890.2+123.3
+53.7
Operatingincome 154.4 176.3 +21.9
Pictures
Sales 720.0 693.1 –
26.9
+51.2
Operatingincome 45.4 29.8 –
15.6
Entertainment, Technology &
Services (ET&S)
Sales 1,185.3 1,220.7 +35.4
+61.7
Operatingincome 116.7 134.2 +17.6
+13.6
Imaging & Sensing Solutions
( I&SS )
Sales 699.1 889.0+190.0
+66.6
Operatingincome 59.1 129.1 +70.0
+44.3
All other
Sales 43.7 45.0 +1.3
Operating
income 4.5 -5.2 –
9.8
Corporate and elimination
Sales – 134.1 –
142.5 -8.5
Operating income – 32.3 –
29.7 +2.6
Sony without Financial
Services
Sales 5,014.7 5,540.9 +526.2
Operatingincome 445.9 638.5+192.6
Financial Services
Revenue 785.3 385.3 –
400.0
Operating income 70.2 95.7+25.5 57
Consolidated total Sales 5,792.3
5,917.2 +125.0
Operating
income 516.1 734.2 +218.1
(Bln Yen)
Figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believe
s that these disclosures may be useful information to investors.

FY2024 Consolidated Results Forecast
12
FY23
(Actual・Average)
FY24 (Assumption)
Foreign exchange rate Q2-Q4 Q3-Q4
1 US dollar 144.4
yen Approx. 148 yen Approx. 146 yen
1 Euro 156.6
yen Approx. 160 yen Approx. 160 yen
Sony without Financial Services Consolidated
FY23 FY24
FCT
FY23 FY24
FCT
August November Change AugustNovember Change
Sales 11,265.0 11,70011,800 +100
（+1%） 13,020.8 12,61012,710 +100
（+1%）
Operating income 1,035.3 1,1651,165 － 1,208.8 1,3101,310 －
Operating income margin 9.2% 9.9%9.9% -0.0 pts 9.3% 10.4% 10.3% -0.1 pts
Income before income taxes 1,145.1 1,1901,190 － 1,268.7 1,3351,335 －
Net income attributable to
Sony Group Corporation’s stockholders 896.6 875875 － 970.6 980980 －
Adjusted OIBDA 1,644.6 1,8201,825 +5
（+0%） 1,826.1 1,9901,995 +5
（+0%）
Adjusted EBITDA 1,686.5 1,8201,825 +5
（+0%） 1,818.0 1,9901,995 +5
（+0%）
Operating Cash Flow 1,177.8 1,4001,440 +40
（+3%） (Bln Yen) Dividend per Share
Interim Year-end
(Planned) * Total (Planned) *
Year
-on -year
Change
50 yen
After stock split 10 yen － －
Before stock split 50 yen 100 yen +15 yen
Adjusted OIBDA, Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS Acco unting Standards. However, Sony believes that these disclosures may be useful information to investors.
* Sony conducted a five -for -one stock split of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above year -end dividends per share (planned) represent the amounts after and before the stock split, respectively. The
total annual dividend per share (planned) after the stock split is not presented because the total of the interim dividend an d the year -end dividend cannot be calculated due to effect of the stock split.

Change from August
forecast Contributing Factors
(+) Better／( -) Worse
Sales +100 bln yen
+1 %
・ (+) Upward revision to G&NS segment sales forecast
・ (ー ) Downward revisions to I&SS and Pictures segments sales forecasts
Operating income －
・ (+) Upward revision to G&NS segment operating income forecast
・ (ー ) Downward revisions to I&SS and Pictures segments operating
income forecasts
Income before
income taxes
－ －
Net income attributable to
Sony Group Corporation’s
stockholders
－ －
Adjusted OIBDA
+5 bln yen
+0 % ・(+) Upward revision to G&NS segment Adjusted OIBDAforecast
・ (ー ) Downward revisions to I&SS and Pictures segments Adjusted
OIBDA forecasts
Adjusted EBITDA
+5 bln yen
+0 %
FY2024 Consolidated Results Forecast: Change from August Forecast
Adjusted OIBDA and Adjusted EBITDA are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors. 13

FY2024Results Forecast by Segment
(Bln Yen)
Figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony beli eves that these disclosures may be useful information to investors. 14
FY23FY24
August FCT FY24
November FCT Change from
August FCT
Game & Network Services
(G&NS)
Sales 4,267.7 4,3204,490 +170
Operatingincome 290.2 320355 +35
Music
Sales 1,619.0 1,7401,740 –
Operatingincome 301.7 330330 –
Pictures
Sales 1,493.1 1,5201,510 -10
Operating income 117.7 125115 -10
Entertainment, Technology &
Services (ET&S)
Sales 2,453.7 2,4202,420 –
Operatingincome 187.4 190190 –
Imaging & Sensing Solutions
( I&SS )
Sales 1,602.7 1,8501,770 -80
Operating income 193.5 275250 -25
All Other, Corporate and
elimination
Operating income – 55.2 -75 -75
–
Sony without Financial Services
Sales 11,265.0 11,70011,800 +100
Operatingincome 1,035.3
1,1651,165 –
Financial Services
Revenue 1,770.0 910910 –
Operatingincome 173.6 145145 – 57
Consolidated total Sales 13,020.812,61012,710 +100
Operatingincome 1,208.8 1,3101,310 –

Game & Network Services Segment (G&NS Segment)
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Operating Income
Adjusted OIBDA
15
Q2 FY 2024 (year- on-year)
 Sales :117. 4bln yen (12% )significant increase(FXImpact :+ 33. 2bln yen)
·(+) Increase insales ofnon- first-party game software titlesincluding add-on content
·(+) Impact offoreign exchanges rates
·(+) Increase insales fromnetwork services, mainlyPlayStation® Plus
·( ー )Decrease insales ofhardware duetoadecrease inunit sales
 OI: 89.9 bln yen (184%) significant increase (FX Impact: +4.3 bln yen)
/ Adjusted OIBDA: 85.9 bln yen (103%) significant increase
·(+) Improvement inhardware profitability
·(+) Impact ofincrease insales ofnon- first-party game software titles
·( +) Impact ofincrease insales fromnetwork services

FY 2024 Forecast (change fromAugust forecast )
 Sales :170 blnyen (4 % )upward revision
·(+)Increase insales ofnon- first-party game software titles
 OI: 35bln yen（11%) upward revision
/ Adjusted OIBDA: 35 blnyen (8%) upward revision
·(+) Improvement inhardware profitability
·(+) Impact ofincrease insales ofnon- first-party game software titles
· (ー )Impact ofdecrease insales offirst -party game software titles

4,267.T 4,320 4,490
290.2 320355
407.9
440475
FY23FY24
August FCT FY24
November FCT
Q2 FY23 Q2FY24
954.1 1,071.5
48.9 138.8
83.1
169.0

Music Segment
Q2 FY 2024 (year- on-year)
 Sales: 39.5 blnyen (10%) increase (FX Impact: +10.7 blnyen)
・(+) Higher revenues fromliveevents, merchandising andlicensing inRecorded Music
・(+) Higher revenues fromstreaming servicesinRecorded MusicandMusic Publishing
・( +) Impact offoreign exchange rates
 OI: 9.4 blnyen (12%) increase / Adjusted OIBDA: 14.7 blnyen (15%) increase
・(+) Impact ofincrease inRecorded MusicandMusic Publishing sales
・ (+) Remeasurement gainonexisting equityresulting fromtheconsolidation ofeplus inc.
・(ー)Increase inselling, general andadministrative expenses
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
16
FY23 FY24
August FCT FY24
November FCT
Q2 FY23 Q2FY24
408.7 448.2
81.0 90.4
97.0 111.8
FY
2024 Forecast (change fromAugust forecast )
 Sales :Remains unchanged fromAugust forecast
 OI/Adjusted OIBDA:Remain unchanged fromAugust forecast
1,619.0 1,740
1,740
301.7 330
330
368.7
420
420

FY2024 Forecast (change fromAugust forecast )
 Sales :10 bln yen (1 % )downward revision
·(ー )Impact offoreign exchange rates
 OI: 10 bln yen (8%) downward revision
/ Adjusted OIBDA: 5 bln yen (3%) downward revision
·(ー ) Impact of lower advertising revenues inthe India business in Media
Networks
Pictures Segment
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
17
FY23 FY24
August FCT FY24
November FCT
Q2 FY23 Q2FY24
1,493.1 1,520
1,510
117.7
125 115
171.2
175
170
399.6
355.8
29.4 18.5
42.6
32.5
Q2 FY2024 (year-on-year )
The following analysis is on a U.S. dollar basis
 Sales: 43.8 blnyen (11%) significant decrease
(U.S. dollar basis: -382 mil USD / -14%)
·( ー ) Lower series deliveries in Television Productions , in part due to production
delays related to the strikes in Hollywood in FY23
·(+) Higher revenues for Crunchyroll mainly due to paid subscriber growth
·(+) Impact of the acquisition of Alamo Drafthouse Cinema
 OI: 11.0 blnyen (37%) significant decrease
(U.S. dollar basis: -81 mil USD / -39%)
/ Adjusted OIBDA: 10.0 blnyen (24%) significant decrease
(U.S. dollar basis: -78 mil USD / -26%)
·( ー ) Impact of decrease in sales
·( ー ) Higher programming and marketing costs inthe India business in Media
Networks

Entertainment, Technology & Services Segment (ET&S Segment)
Sales, Operating Income and Adjusted OIBDA
Q2 FY 2024 (year- on-year)
 Sales:6.2 bln yen (1 % )increase (FXImpact :+ 15. 0bln yen)
·(+) Impact of foreign exchange rates
 OI: 9.1 bln yen (15%) increase (FX Impact: +3.5 bln yen)
/ Adjusted OIBDA: 8.4 bln yen (10%) increase
·( +) Positive impact of foreign exchange rates
·( +) Reductions in operating expenses
FY 2024 Forecast (change fromAugust forecast )
 Sales :Remains unchanged fromAugust forecast
 OI/Adjusted OIBDA:Remain unchanged fromAugust forecast
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
18
FY23 FY24
August FCT FY24
November FCT
Q2 FY23 Q2FY24
2,453.7
2,420 2,420
187.4 190
190
289.1
290 290
613.5
619.8
61.0 70.2
87.6
96.0

Imaging & Sensing Solutions Segment (I&SSSegment)
Q2 FY 2024 (year- on-year)
 Sales:129. 3bln yen ( 32% )significant increase(FXImpact :+ 29. 7bln yen)
·(+) Increase in sales of image sensors for mobile products
·( +) Increase in unit sales
·( +) Improvement in product mix
·( +) Impact of foreign exchange rates
 OI: 46.1 bln yen ( 99%) significant increase (FX Impact: +22.9 bln yen)
/ Adjusted OIBDA: 54.1 bln yen (50%) significant increase
·( +) Impact of increase in sales
·( +) Positive impact of foreign exchange rates
·( +) Decrease in costs associated with the launch of mass production of a new
image sensor for mobile products
·( ー ) Increase in manufacturing costs
·(
ー ) Increase in depreciation and amortization expenses *
FY 2024 Forecast (change fromAugust forecast )
 Sales :80 bln yen ( 4 % )downward revision
·(ー ) Decrease in unit sales of image sensors for mobile products
 OI :25 bln yen (9 % )downward revision
/ Adjusted OIBDA:25 bln yen (5 % )downward revision
·(ー ) Impact of decrease in sales
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
* Factor for change in operating income only, not included in factors for change in Adjusted OIBDA.
19 FY23FY24
August FCT FY24
November FCT
1,602.7 1,850
1,770
193.5 275
250
441.4
550 525
406.3 535.6
46.4 92.4
107.1 161.2
Q2
FY23 Q2FY24

Financial Services Segment
Q2 FY 2024 (year- on-year)
 Revenue :167. 2bln yen significant decrease
·( ー )Significant decrease in revenue at Sony Life
(175.6 blnyen decrease, revenue: -132.8 blnyen)
· ( ー )Increase in net loss on investments related to market fluctuations for both
the general account and the separate accounts
· ( ー )Impact of foreign exchange rate fluctuations
 OI: 50.1 blnyen (319%) significant increase
/ Adjusted OIBDA: 49.9 blnyen (220%) significant increase
·( +) Significant increase in OI at Sony Life (46.9 blnyen increase, OI: 56.7 blnyen)
· ( +) Improvement in net gains and losses related to market fluctuations for
minimum guarantees for variable life insurance and other products
· ( +) Impact of interest rate fluctuations
FY2024 Forecast (change fromAugust forecast )
 Revenue:Remains unchanged fromAugust forecast
·( ー ) Decrease in net gains related to market fluctuations at Sony Life
· ( +) Uncertainties in market fluctuations
 OI / Adjusted OIBDA: Remain unchanged from August forecast
·( +) Increase in net gains related to market fluctuations for minimum guarantees
for variable life insurance and other products at Sony Life
· ( ー ) Uncertainties in market fluctuations
Financial Services Revenue,
Operating Income and Adjusted OIBDA
(Bln Yen) Financial Services Revenue
Operating Income
Adjusted OIBDA
20
FY23 FY24
August FCT FY24
November FCT
Q2 FY23 Q2FY24
1,770.0
910910
173.6 145145
181.5
170
170
103.9
-63.3
15.7
65.7
22.7 72.5
*
* Revenue decreased due to a significant appreciation of the yen during Q2FY24 ,which
led to a significant decrease in the yen- based valuation of assets under management for
foreign currency -denominated insurance. However, becausethe valuation of liabilities
declined in a similar manner, this did not have a significant impact on profitability.

Insurance Service Result *1
Other Result
2.3 2.1 2.3
2.2 2.2
1.0 1.1
1.1 1.1 1.2
217%
183%196%
198%
184%
0 1
2 3
Q1Q2Q3Q4Q1Q2Q3Q4
42.7 48.0
46.4
34.0 41.8
49.0
22.4
-16.7 46.1
-11.0 4.8
27.5
– 19.2
-21.4 –
20.9
-24.1 –
20.9 –
19.8
-50 0
50
100 150
Q1
Q2Q3Q4Q1Q2Q3Q4
21
Sony Life Operating Income Breakdown
Investment Result
（Bln Yen）
Adjusted Net Income *3
Other *2
Financial Services Segment
FY24
FY23
19.2= 21.5=
19.6=
10.2=17.0=
22.6=
24.6=
25.1=
23.1=
16.1=20.1=28.7=
M R
10 15 20
25
30
Q1
Q2Q3Q4Q1Q2Q3Q4
Sony Life
Other *4
（Bln Yen）
FY24
FY23
*1 Insurance service result = Insurance revenue
–Insurance service expenses
*2 Other = Other financial services revenue – Insurance finance expenses (income) –Other financial services expense. “Other” corresponds to the total of Investment result and Other result in “Supplemental Information”.
*3 Adjusted ROE is calculated by dividing Adjusted Net Income by the quarterly average net assets (the sum of net assets at thebeginning of the period and the end of each of the following four quarters divided by five). Adjusted Net Income and Adjusted ROE are not presented in
accordance with IFRS Accounting Standards and Japanese accounting standards adhered to by Sony Financial Group, Inc. (“SFGI”) and its subsidiaries , including Sony Life, Sony Assurance and Sony Bank, for preparation and disclosure of their respective consolidated and
non- consolidated financial results. However, Sony believes that these disclosures may be useful information to investors.
*4 “Other” includes Sony Assurance, Sony Bank, Sony Life Care and consolidation adjustment.
*5 From Q1FY24 , the calculation method of the tax rate for adjustments for Adjusted Net Income and Adjusted ROE has been changed, and the FY23figures disclosed in the materials for the business segment meeting held on May 31, 2024 have been revised and restated based
on the same calculation method. For further details about reconciliations to Adjusted Net Income, see page 22.
*6 ESR is the ratio of capital (= economic value -based embedded value + frictional costs) to the amount of the economic value -based ri sk. Figures are as of the end of each quarter.
Group Consolidated ESR *6
Economic value-based capital
Economic value -based risk post -tax
（Trillion Yen ）
FY24
FY23
FY23
Adjusted ROE *3 8.0% *5
Adjusted Net Income （cumulative ） 88.8 bln Yen *5
ESR
Group consolidated ESR for Q2 FY24 will be disclosed on
Sony Group Corporation’s
website on November 14, 2024.

FY23FY24
Q1 Q2Q3Q4Q1Q2Q3Q4
Pre-tax net income (loss) (Operating Income) *1 54.5 15.777.326.130.065.7
Post -tax net income (loss) 38.510.755.019.821.546.7
SFGI related adjustments ——
Sony Life related adjustments -13.9 14.4-31.9 11.0 -1.4 -18.1
Investment income (net)
*2 related to variable
insurance and foreign currency translation differences
(excluding the equivalent of hedge costs
*3) –
451.2 114.0 -90.8 -454.1 -218.1 299.7
Unrealized gains/losses
*4 related to variable insurance
within insurance financial gain/losses and foreign
currency translation differences 447.8
-93.3 46.4458.1 216.8-324.6
Gains/losses on sales of securities -16.0 -0.6 -0.1 11.3 -0.6 -0.3
Other one -time gains/losses ——
Tax effects related to the above 5.4-5.6 12.5 -4.3 0.67.1
Sony Assurance related adjustments ——
Sony Bank related adjustments —-14.7 —
Gains related to the transfer of shares of Sony
Payment Services –
—19.8 —
Tax effects related to the above —5.0 —
Other entities related adjustments ——
Total adjustments -13.9 14.4-31.9 -3.8 -1.4 -18.1
.
Adjusted post -tax net income (loss) 24.625.123.116.120.128.7
Reconciliations from Net Income to Adjusted Net Income
22
*1 In the Financial Services segment, there is no difference between operating income and income before income taxes because no non- operating financial income (expenses) are generated.
* 2 Investment income (net) related to variable insurance is financial assets measured at fair value through net profits/losses, associated with variable life insurance and individual variable annuity contracts.
*3 Transaction fees and margin costs required to maintain hedge positions. Includes current accrued interest from bonds designated as measured at fair value through net profits/losses (FVOdesignated) based on the interest rate at
the beginning of the period.
*4 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and c hanges in interest rates and other financial risks.
Financial Services Segment
(Bln Yen)

Reconciliation Table for Adjusted EBITDA (Q2)
Sony without Financial
Services Consolidated
Q2 FY23 Q2
FY24
Q2FY23 Q2
FY24
Net income attributable to Sony Group Corporation’s stockholders
189.4 291.9200.1338.5
Net income attributable to noncontrolling interests 0.91.31.11.3
Income taxes 51.691.356.4110.4
Interest expenses / (income), net, recorded in Financial income
(expense)
2.1 1.62.11.6
(Gain) / loss on revaluation of equity instruments, net, recorded in
Financial income (expense)
3.7-16.3 3.7-16.3
Depreciation and amortization expense *1 155.9 164.8162.9171.6
Non-recurring (profit) / loss *2 ー － ー－
Adjusted EBITDA 403.7 534.7426.4607.2
23
Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards . However, Sony believes that these disclosures may be useful information
to investors.
*1 Depreciation and amortization expense excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.
(Bln Yen)

Results and Reconciliation Table for Adjusted OIBDAby Segment ( Q2)
24
Q2 FY23 Q2FY24 Change
Operating
Income Depreciation
and
Amortization
*1
Non -recurring
(profit) / loss *2 Adjusted OIBDA Operating

Income Depreciation
and
Amortization
*1
Non -recurring
(profit) / loss *2 Adjusted OIBDA Adjusted
OIBDA
Game & Network Services
(G&NS) 48.9 34.2 －83.1 138.8 30.1 －169.0 +85.9
Music 81.0 16.0 －97.0 90.4 21.4 －111.8 +14.7
Pictures 29.4 13.1 －42.6 18.5 14.0 －32.5 -10.0
Entertainment, Technology
& Services (ET&S) 61.0 26.5 －87.6 70.2 25.8 －96.0 +8.4
Imaging & Sensing
Solutions ( I&SS) 46.4 60.8 －107.1 92.4 68.8 －161.2 +54.1
All Other 2.1 1.0 －3.1 -6.5 1.3 －-5.2 -8.3
Corporate and elimination -21.5 4.2－-17.2 -14.4 3.3－-11.1 +6.1
Sony without Financial
Services 247.3 155.9 －403.3 389.3 164.8 －554.2 +150.9
Financial Services 15.7 7.0－22.7 65.7 6.8－72.5 +49.9
Consolidated total 263.0 162.9 －425.9 455.1 171.6 －626.7 +200.8
(Bln Yen)
Adjusted OIBDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors.
*1 Depreciation and Amortization excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.

Reconciliation Table for Adjusted EBITDA (1H)
Sony without Financial
Services Consolidated
1H FY23 1H
FY24
1HFY23 1H
FY24
Net income attributable to Sony Group Corporation’s stockholders
418.5 501.9417.7570.1
Net income attributable to noncontrolling interests 1.25.51.45.5
Income taxes 93.8164.0 114.5191.5
Interest expenses / (income), net, recorded in Financial income
(expense)
2.6 1.32.61.3
(Gain) / loss on revaluation of equity instruments, net, recorded in
Financial income (expense)
-9.6 -47.2 -9.6 -47.2
Depreciation and amortization expense *1 298.1 333.6312.0347.2
Non-recurring (profit) / loss *2 – 6.0 －-6.0 －
Adjusted EBITDA 798.5 959.1832.61,068.5
25
Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards . However, Sony believes that these disclosures may be useful information
to investors.
*1 Depreciation and amortization expense excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.
(Bln Yen)

Results and Reconciliation Table for Adjusted OIBDAby Segment ( 1H)
26
1H FY23 1HFY24 Change
Operating
Income Depreciation
and
Amortization
*1
Non -recurring
(profit) / loss *2 Adjusted OIBDA Operating

Income Depreciation
and
Amortization
*1
Non -recurring
(profit) / loss *2 Adjusted OIBDA Adjusted
OIBDA
Game & Network Services
(G&NS) 98.1 60.9 －158.9 204.1 60.6 －264.6 +105.7
Music 154.4 31.6-6.0 180.0 176.3 43.2 －219.4 +39.5
Pictures 45.4 25.6 －71.0 29.8 30.5 －60.3 -10.7
Entertainment, Technology
& Services (ET&S) 116.7 51.8 －168.4 134.2 51.9 －186.1 +17.7
Imaging & Sensing
Solutions ( I&SS) 59.1 118.1 －177.2 129.1 138.0 －267.1 +89.9
All Other 4.5 2.2 －6.8 -5.2 2.6 －-2.6 -9.4
Corporate and elimination -32.3 8.0－-24.3 -29.7 6.8－-23.0 +1.4
Sony without Financial
Services 445.9 298.1 -6.0 737.9 638.5 333.6 －972.1 234.1
Financial Services 70.2 13.9 －84.1 95.7 13.6 －109.3 +25.2
Consolidated total 516.1 312.0 -6.0 822.0 734.2 347.2 －1,081.4 +259.4
(Bln Yen)
Adjusted OIBDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors.
*1 Depreciation and Amortization excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.

Reconciliation Table for Adjusted EBITDA
Sony without
Financial Services Consolidated
FY23 FY23
Net income attributable to Sony Group Corporation’s stockholders
896.6 970.6
Net income attributable to noncontrolling interests 9.49.9
Income taxes 239.1288.2
Interest expenses / (income), net, recorded in Financial income (expense) 3.4 3.4
(Gain) / loss on revaluation of equity instruments, net, recorded in Financial
income (expense)
-71.4 -71.4
Depreciation and amortization expense *1 615.4 643.1
Non-recurring (profit) / loss *2 – 6.0 -25.8
Adjusted EBITDA 1,686.5 1,818.0
27
Adjusted EBITDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards . However, Sony believes that these disclosures may be useful
information to investors.
*1 Depreciation and amortization expense excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.
(Bln Yen)

Forecast for Adjusted OIBDAby Segment
28
FY23 FY24
August FCT FY24
November FCT Change from
August FCT
Operating
Income Depreciation
and
Amortization
*1
Non -recurring
(profit) / loss *2 Adjusted OIBDA Adjusted
OIBDA Adjusted
OIBDA Adjusted
OIBDA
Game & Network Services
(G&NS) 290.2 117.7 －407.9 440475 +35
Music 301.7 73.1-6.0 368.7 420420 －
Pictures 117.753.5 －171.2 175170 -5
Entertainment, Technology &
Services (ET&S) 187.4 101.7 －289.1 290290 －
Imaging & Sensing Solutions
(I&SS ) 193.5 247.9 －441.4 550525 -25
All Other, Corporate and
elimination -55.2 21.5 －-33.7 -55 -55 －
Sony without Financial
Services 1,035.3 615.4-6.0 1,644.6 1,8201,825 +5
Financial Services 173.627.7-19.8 181.5 170170 －
Consolidated total 1,208.8643.1-25.8 1,826.1 1,9901,995 +5
(Bln Yen)
Adjusted OIBDA and figures for Sony without Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosures may be useful information to investors.
*1 Depreciation and Amortization excludes amortization for film costs, broadcasting rights and internally developed game content and master recordings included in Content assets.
*2 Items included in operating income.

Notes
Notes about Adjusted OIBDAand Adjusted EBITDA
Adjusted OIBDA (Operating Income Before Depreciation and Amortization) and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) are calculated
by the following formulas:
Adjusted OIBDA= Operating income + Depreciation and amortization expense* -the profit and loss amount that Sony deems non- recurring
Adjusted EBITDA = Net income attributable to Sony Group Corporation’s stockholders + Net income attributable to noncontrolling i nterests + Income taxes + Interest expenses,
net, recorded in Financial income and Financial expense -Gain on revaluation of equity instruments, net, recorded in Financial income and Financial expense +
Depreciation and amortization expense* -the profit and loss amount that Sony deems non- recurring
* In the above formulas, depreciation and amortization expense excludes amortization for film costs and broadcasting rights, as well as forinternally developed game content and
master recordings included in Content assets.
Adjusted OIBDAand Adjusted EBITDA are not measures in accordance with IFRS Accounting Standards. However, Sony believes that these disclosure s may be useful information
to investors. Adjusted OIBDAand Adjusted EBITDA should be considered in addition to, not as a substitute for, Sony’s results in accordance with IFRS Accounting Standards.
Sales on a Constant Currency Basis and the Impact of Foreign Exchange Rate Fluctuations
The descriptions of sales on a constant currency basis reflect sales calculated by applying the yen’s monthly average exchang e rates from the same period of the previous fiscal
year to local currency -denominated monthly sales in the relevant period of the current fiscal year. For Sony Music Entertainment (“SME”) and Sony Music Publishing LLC (“SMP”)
in the Music segment, and in the Pictures segment, the constant currency amounts are calculated by applying the monthly average U.S. dollar / yen exchange rates after
aggregation on a U.S. dollar basis.
Results for the Pictures segment are described on a U.S. dollar basis as the Pictures segment reflects the operations of Sony Pictures Entertainment Inc. (“SPE”), a U.S. -based
operation that aggregates the results of its worldwide subsidiaries in U.S. dollars.
The impact of foreign exchange rate fluctuations on sales is calculated by applying the change in the yen’s periodic weighted average exchange rate for the same period of the
previous fiscal year from the relevant period of the current fiscal year to the major transactional currencies in which the sale s are denominated. The impact of foreign exchange
rate fluctuations on operating income (loss) is calculated by subtracting from the impact on sales the impact on cost of sale s and selling, general and administrative expenses
calculated by applying the same major transactional currencies calculation process to cost of sales and selling, general and administrative expenses as for the impact on sales.
The I&SS segment enters into its own foreign exchange hedging transactions, and the impact of those transactions is included in the im pact of foreign exchange rate fluctuations
on sales and operating income (loss) for that segment.
This information is not a substitute for Sony’s consolidated financial statements and condensed (semi -annual) consolidated financial statements measured in accordance with IFRS
Accounting Standards. However, Sony believes that these disclosures provide additional useful analytical information to investor s regarding the operating performance of Sony.
Notes about Financial Performance of the Music, Pictures and Financial Services segments
The Music segment results include the yen- based results of Sony Music Entertainment (Japan) Inc. and the yen- translated results of SME and SMP, which aggregate the results of
their worldwide subsidiaries on a U.S. dollar basis.
The Pictures segment results are the yen- translated results of SPE, which aggregates the results of its worldwide subsidiaries on a U.S. dollar basis. Management analyzes the
results of SPE in U.S. dollars, so discussion of certain portions of its results is specified as being on “a U.S. dollar basi s”.
The Financial Services segment results include SFGI and SFGI’s consolidated subsidiaries such as Sony Life Insurance Co., Ltd ., Sony Assurance Inc., and Sony Bank Inc. The
results discussed in the Financial Services segment differ from the results that SFGI and SFGI’s consolidated subsidiaries di sclose separately on a Japanese statutory basis.
29

Cautionary Statement
Statements made in this material 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. Forward -looking statements include, but are not limited to, those statements using words s uch as “believe,” “expect,” “plans,” “strategy,” “prospects,”
“forecast,” “estimate,” “project,” “anticipate,” “aim,” “intend,” “seek,” “may,” “might,” “could” or “should,” and words of s imilar meaning in connection with a discussion of future operations,
financial performance, events or conditions. From time to time, oral or written forward -looking statements may also be included in other materials released to the public. These statements are
based on management’s assumptions, judgments and beliefs in light of the information currently available to it. Sony cautions investors that a number of important risks and uncertainties could
cause actual results to differ materially from those discussed in the forward -looking statements, and therefore investors should not place undue reliance on them. Investors also should not rely
on any obligation of Sony to update or revise any forward -looking statements, whether as a result of new information, future eve nts or otherwise. Sony disclaims any such obligation. Risks and
uncertainties that might affect Sony include, but are not limited to:
(i) Sony’s ability to maintain product quality and customer satisfaction with its products and services;
(ii) Sony’s ability to continue to design and develop and win acceptance of, as well as achieve sufficient cost reductions for, its products and services, including image sensors,
game and network platforms, smartphones and televisions, which are offered in highly competitive markets characterize d by severe price competition and continual new
product and service introductions, rapid development in technology and subjective and changing customer preferences;
(iii) Sony’s ability to implement successful hardware, software, and content integration strategies, and to develop and implement successful sales and distribution strategies in light
of new technologies and distribution platforms;
(iv) the effectiveness of Sony’s strategies and their execution, including but not limited to the success of Sony’s acquisitions, joint ventures, investments, capital expenditures,
restructurings and other strategic initiatives;
(v) changes in laws, regulations and government policies in the markets in which Sony and its third -party suppliers, service pro viders and business partners operate, including those
related to taxation, as well as growing consumer focus on corporate social responsibility;
(vi) Sony’s continued ability to identify the products, services and market trends with significant growth potential, to devote s ufficient resources to research and development, to
prioritize investments and capital expenditures correctly and to recoup its investments and capital expenditures, including those required for technology development and
product capacity;
(vii) Sony’s reliance on external business partners, including for the procurement of parts, components, software and network serv ices for its products or services, the
manufacturing, marketing and distribution of its products, and its other business operations;
(viii) the global economic and political environment in which Sony operates and the economic and political conditions in Sony’s markets, particularly levels of consumer spending;
(ix) Sony’s ability to meet operational and liquidity needs as a result of significant volatility and disruption in the global f inancial markets or a ratings downgrade;
(x) Sony’s ability to forecast demands, manage timely procurement and control inventories;
(xi) foreign exchange rates, particularly between the yen and the U.S. dollar, the euro and other currencies in which Sony makes significant sales and incurs production costs, or in
which Sony’s assets, liabilities and operating results are denominated;
(xii) Sony’s ability to recruit, retain and maintain productive relations with highly skilled personnel;
(xiii) Sony’s ability to prevent unauthorized use or theft of intellectual property rights, to obtain or renew licenses relating to intellectual property rights and to defend itself against claims that
its products or services infringe the intellectual property rights owned by others;
(xiv) the impact of changes in interest rates and unfavorable conditions or developments (including market fluctuations or volatili ty)in the equity and bond markets on the revenue and
operating income of the Financial Services segment;
(xv) shifts in customer demand for financial services such as life insurance and Sony’s ability to conduct successful asset liab ility management in the Financial Services segment;
(xvi) risks related to catastrophic disasters, geopolitical conflicts, pandemic disease or similar events;
(xvii) the ability of Sony, its third -party service providers or business partners to anticipate and manage cybersecurity risk, including the risk of unauthorized access to Sony’s business
information and the personally identifiable information of its employees and customers, potential business disruptions or fin ancial losses; and
(xviii) the outcome of pending and/or future legal and/or regulatory proceedings.
Risks and uncertainties also include the impact of any future events with material adverse impact. The continued impact of de velopments relating to the situations in Ukraine and Russia and in
the Middle East could heighten many of the risks and uncertainties noted above. Important information regarding risks and unc ertainties is also set forth in Sony’s most recent Form 20 -F, which
is on file with the U.S. Securities and Exchange Commission.
30