Sony Corporation FY2024 Q3 Earnings Release

Q3 FY2024 Consolidated Financial Results
(Three months ended December 31, 2024)
Sony Group Corporation
February 13, 2025

1
Q3 FY2024 Consolidated Results
Average Rate
1 US dollar
147.9 yen 152.2 yen
1 Euro 159.0 yen 162.5 yen
Sony without Financial Services Consolidated
Q3 FY23 Q3 FY24ChangeQ3 FY23 Q3 FY24Change
Sales
*1 3,439.4 3,695.7 +256.3
（+7%） 3,747.54,409.6 +662.0
（+18%）
Operating income 386.1 423.0 +36.9
（+10%） 463.3 469.3 +6.0
（+1%）
Operating income margin 11.2% 11.4% +0.2 pts 12.4% 10.6% -1.7 pts
Income before income taxes 381.3 447.7 +66.4
（+17%） 458.6 494.1 +35.5
（+8%）
Net income attributable to
Sony Group Corporation’s stockholders 308.9 341.1 +32.1
（+10%） 363.9 373.7 +9.8
（+3%）
Net income attributable to Sony Group
Corporation’s stockholders per share
of common stock (diluted)
*2 50.05 yen 56.41 yen+6.36 yen 58.96 yen 61.82 yen+2.86 yen
Adjusted
OIBDA *3 544.0 587.7 +43.7
（+8%） 628.3640.9 +12.6
（+2%）
Adjusted EBITDA *3 520.7
595.9 +75.2
（+14%） 605.0 649.1 +44.1
（+7%）
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)

2
Q3 FY2024 Consolidated Results: Year-on -year Change
Ye a r -on- year
Change Contributing Factors
(+) Better／( -) Worse
Sales +662.0 bln yen
+18 %
・ (+) Significant increases in Financial Services, G&NS and Music segments sales
On a constant currency basis
*1 , sales increased approximately 15%
Operating
income +6.0 bln yen
+1
%
・ (+) Significant increases in G&NS and Music segments operating income
・ (ー ) Significant decrease in Financial Services segment operating income
・ (ー ) Decrease in Pictures segment operating income
・ (ー ) Deterioration in All Other operating results
Income tax
expense +27.3 bln yen ・
(ー ) Impact of a higher Japanese tax rate mainly due to a decrease in the allowable
deduction rate for tax credits
・ (ー ) Absence of a decrease in tax expense from the recognition of additional deferred
tax assets from the dissolution of a subsidiary in Q3 FY23
Adjusted
OIBDA +12.6 bln yen
+2 %
・(+) Significant improvement in foreign exchange gains and losses recorded within
financial income and expenses
*2
・(+) Significant increases in G&NS and Music segments Adjusted OIBDA
・ (ー ) Significant decrease in Financial Services segment Adjusted OIBDA
・ (ー ) Decrease in Pictures segment Adjusted OIBDA
・ (ー ) Deterioration in All Other Adjusted OIBDA
Adjusted
EBITDA +44.1 bln yen
+7 %
Effective tax rate
20% →24%
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.
*1 For further details about the impact of foreign exchange rate fluctuations on sales and operating income (loss), see page 29(applies to all following pages).
*2 Factor for change in Adjusted EBITDA only, not included in factors for change in Adjusted OIBDA.

3
Adjusted Income
*1
(Q3 ・Sony without Financial Services)
Q3 FY23
Q3 FY24 Change from Q3 FY23
Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Adjusted
Operating income 386.1
ー386.1 423.0 －423.0 +36.9
（+10% ）
+36.9
（+10%）
Income before income taxes 381.3 ー381.3 447.7 －447.7 +66.4
（+17% ）
+66.4
（+17%）
Income taxes 69.1 +7.676.7104.8
－
104.8 +35.7
（+52% ）
+28.1
（+37%）
Net income attributable to
Sony Group Corporation’s
stockholders
308.9 -7.6 301.3 341.1 －341.1 +32.1
（+10% ）
+39.7
（+13%）
Effective tax rate
18%
Effective tax rate
20%
Effective tax rate
23%
Effective tax rate
23%
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 following pages).
(Bln Yen)

4
Non-Recurring Profit and Loss (Sony without Financial Services)
Q3
FY23 Q1
-Q3
FY23 FY23 Q3
FY24 Q1
-Q3
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) –
7.6 -6.5 -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 -7.6 -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) +7.6
+12.5+12.3 Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment)
－
－
(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.

5
Adjusted Income
*1
(Q3 ・Consolidated)
Q3 FY23
Q3 FY24 Change from Q3 FY23
Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Non
-recurring
(profit) / loss *2 Adjusted Before
adjustment Adjusted
Operating income 463.3
－463.3 469.3 －469.3 +6.0
（+1% ）
+6.0
（+1%）
Income before income taxes 458.6 －458.6 494.1 －494.1 +35.5
（+8% ）
+35.5
（+8%）
Income taxes 91.2 +7.698.8118.5
－
118.5 +27.3
（+30% ）
+19.7
（+20%）
Net income attributable to
Sony Group Corporation’s
stockholders
363.9 -7.6 356.3 373.7 －373.7 +9.8
（+3% ）
+17.4
（+5%）
Effective tax rate
20%
Effective tax rate
22%
Effective tax rate
24%
Effective tax rate
24%
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)

6
Non-Recurring Profit and Loss (Consolidated)
Q3
FY23 Q1
-Q3
FY23 FY23 Q3
FY24 Q1
-Q3
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) –
7.6 -6.4 -1.6 Items included in income taxes
(before adjustment) －
－
Tax effect with regard to the above items
－+1.2 +6.0
Decrease in tax expense from the dissolution of a
subsidiary (Q3) –
7.6 -7.6 -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) +7.6
+12.4+27.4 Items included in net income attributable to
Sony Group Corporation’s stockholders
(before adjustment)
－
－
(Bln Yen)

7
Q3 FY2024 Results by Segment
Q3 FY23Q3 FY24 ChangeFX Impact
Game & Network Services
(G&NS)
Sales 1,444.4 1,682.3 +237.9
+35.9
Operatingincome 86.1 118.1 +31.9
-2.9
Music
Sales 422.1 481.7 +59.6
+10.9
Operatingincome 76.1 97.4+21.3
Pictures
Sales 366.3 398.2 ＋31.9
+10.6
Operatingincome 41.6 34.0 –
7.6
Entertainment, Technology &
Services (ET&S)
Sales 735.7 704.5 –
31.2
+12.8
Operatingincome 77.2 77.1 –
0.1
+0.9
Imaging & Sensing Solutions
(I&SS)
Sales 505.2 500.9 –
4.2
+17.3
Operatingincome 99.7 97.5 –
2.2
+11.8
All Other
Sales 23.9 25.8 +1.9
Operating
income 2.6
-3.0 –
5.6
Corporate and elimination
Sales – 61.9 –
102.4 -40.5
Operating income 2.7 1.8
-0.9
Sony without Financial
Services
*
Sales 3,439.4 3,695.7 +256.3
Operatingincome 386.1 423.0 +36.9
Financial Services
* Revenue 311.7 718.5+406.7
Operating
income 77.3 46.4 –
30.9 57
Consolidated total * Sales 3,747.5 4,409.6 +662.0
Operating
income 463.3 469.3 +6.0
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).
(Bln Yen)

8
Q1-Q3 FY2024 Consolidated Results
Average Rate
1 US dollar
143.1 yen 152.4 yen
1 Euro 155.1 yen 164.7 yen
Sony without Financial Services Consolidated
Q1 -Q3 FY23 Q1-Q3 FY24 ChangeQ1-Q3 FY23 Q1-Q3 FY24 Change
Sales
8,454.1 9,236.6 +782.5
（+9%） 9,539.810,326.8 +787.0
（+8%）
Operating income 831.91,061.4 +229.5
（+28%） 979.4 1,203.5 +224.1
（+23%）
Operating income margin 9.8% 11.5% +1.7 pts 10.3% 11.7% +1.4 pts
Income before income taxes 894.81,119.1 +224.3
（+25%） 992.2 1,261.2 +269.0
（+27%）
Net income attributable to
Sony Group Corporation’s stockholders 727.5 843.0 +115.5
（+16%） 781.6 943.9 +162.3
（+21%）
Net income attributable to Sony Group
Corporation’s stockholders per share
of common stock (diluted)
117.64 yen 138.66 yen+21.02 yen 126.39 yen 155.25 yen+28.86 yen
Adjusted
OIBDA 1,281.9 1,559.7 +277.8
（+22%
） 1,450.3 1,722.3 +272.0
（+19%）
Adjusted EBITDA 1,319.3 1,555.0 +235.8
（+18%
） 1,437.6 1,717.6 +280.0
（+19%）
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)

9
Adjusted Income
*
(Q1 -Q3 ・Sony without Financial Services)
Q1 -Q3 FY23
Q1-Q3 FY24 Change from
Q1 -Q3 FY23
Before
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Adjusted
Operating income 831.9
-6.0 825.9 1,061.4 －1,061.4 +229.5
（+28% ）
+235.5
（+29%）
Income before income taxes 894.8 -6.0 888.8 1,119.1 －1,119.1 +224.3
（+25% ）
+230.3
（+26%）
Income taxes 162.8 +6.5169.3 268.7 －268.7 +105.9
（+65% ）
+99.4
（+59%）
Net income attributable to
Sony Group Corporation’s
stockholders
727.5 -12.5 715.0 843.0 －843.0 +115.5
（+16% ）
+128.0
（+18%）
Effective tax rate
18%
Effective tax rate
19%
Effective tax rate
24%
Effective tax rate
24%
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)

10
Adjusted Income
*
(Q1 -Q3 ・Consolidated)
Q1 -Q3 FY23
Q1-Q3 FY24 Change from
Q1 -Q3 FY23
Before
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Non
-recurring
(profit) / loss AdjustedBefore
adjustment Adjusted
Operating income 979.4
-6.0 973.4 1,203.5 －1,203.5 +224.1
（+23% ）
+230.1
（+24%）
Income before income taxes 992.2 -6.0 986.2 1,261.2 －1,261.2 +269.0
（+27% ）
+275.0
（+28%）
Income taxes 205.7 +6.4212.1 309.9
－
309.9 +104.2
（+51% ）
+97.9
（+46%）
Net income attributable to
Sony Group Corporation’s
stockholders
781.6 -12.4 769.2 943.9 －943.9 +162.3
（+21% ）
+174.7
（+23%）
Effective tax rate
21%
Effective tax rate
22%
Effective tax rate
25%
Effective tax rate
25%
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)

11
Q1-Q3 FY2024 Results by Segment
Q1 -Q3 FY23 Q1-Q3 FY24 ChangeFX Impact
Game & Network Services
(G&NS)
Sales 3,170.4 3,618.8 +448.4
+154.6
Operatingincome 184.2 322.1+
137.9
+2.8
Music
Sales 1,189.0 1,371.9 +
182.9
+64.7
Operatingincome 230.5 273.7 +43.2
Pictures
Sales 1,086.3 1,091.4 ＋5.0
+61.8
Operatingincome 87.0 63.8 –
23.2
Entertainment, Technology &
Services (ET&S)
Sales 1,921.1 1,925.2 +4.1
+74.5
Operatingincome 193.8 211.3 +
17.5
+14.5
Imaging & Sensing Solutions
( I&SS )
Sales 1,204.2 1,390.0 +
185.8
+84.0
Operatingincome 158.8 226.6 +67.8
+56.1
All Other
Sales 67.6 70.8 +3.1
Operating
income 7.1 -8.2 –
15.4
Corporate and elimination
Sales – 195.9 –
244.9 -49.0
Operating income – 29.6 –
27.9 +1.7
Sony without Financial
Services
Sales 8,454.1 9,236.6 +782.5
Operatingincome 831.9 1,061.4 +229.5
Financial Services
Revenue 1,097.1 1,103.8 +6.7
Operating
income 147.5 142.1 –
5.4 57
Consolidated total Sales 9,539.8 10,326.8 +787.0
Operating
income 979.4 1,203.5 +224.1
(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.

12
FY2024 Consolidated Results Forecast
FY23
(Actual・Average)
FY24 (Assumption)
Foreign exchange rate Q3-Q4 Q4
1 US dollar 144.4
yen Approx. 146 yen Approx. 150 yen
1 Euro 156.6
yen Approx. 160 yen Approx. 158 yen
Sony without Financial Services Consolidated
FY23 FY24
FCT
FY23 FY24 FCT
November FebruaryChange NovemberFebruaryChange
Sales 11,265.0 11,80011,900 +100
（+1%） 13,020.8 12,71013,200 +490
（+4%）
Operating income 1,035.3 1,1651,190 +25
（+2%） 1,208.8 1,3101,335 +25
（+2%）
Operating income margin 9.2% 9.9%10.0% +0.1 pts 9.3%10.3% 1 0 . 1% -0.2 pts
Income before income taxes 1,145.1 1,1901,240 +50
（+4%） 1,268.7 1,3351,385 +50
（+4%）
Net income attributable to
Sony Group Corporation’s stockholders 896.6 875975 +100
（+11%） 970.6 9801,080 +100
（+10%）
Adjusted OIBDA 1,644.6 1,8251,850 +25
（+1%） 1,826.1 1,9952,020 +25
（+1%）
Adjusted EBITDA 1,686.5 1,8251,840 +15
（+1%） 1,818.0 1,9952,010 +15
（+1%）
Operating Cash Flow 1,177.8 1,4401,660 +220
（+15%） 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.
(Bln Yen)

13
FY2024 Consolidated Results Forecast: Change from November Forecast
Change from
November forecast Contributing Factors
(+) Better／( -) Worse
Sales +490 bln yen
+4 %
・ (+) Increases in Financial Services and G&NS segments sales
Operating income +25 bln yen
+2 %
・(+) Increase in G&NS segment operating income
Income before
income taxes +50 bln yen
+4 %
・(+) Upward revision to operating income forecast
・ (+) Increase in financial income, net, mainly due to the recording of
unrealized gains on securities
Net income attributable to
Sony Group Corporation’s
stockholders +100 bln yen
+10 %
・ (+) Upward revision to income before income taxes forecast
・ (+) Decrease in tax expense mainly due to the impact (+60 bln yen) of
the following factors
・ (+) Decrease in tax expense from the dissolution of a subsidiary
・ (+) Decrease in tax expense from repayment of capital from a
subsidiary
Adjusted OIBDA
+25 bln yen
+1 %
・(+) Increase in G&NS segment Adjusted OIBDA
Adjusted EBITDA
+15 bln yen
+1 %
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.

14
FY2024 Results Forecast by Segment
(Bln Yen)
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.
FY23FY24
November FCT FY24
February FCT Change from
November FCT
Game & Network Services
(G&NS)
Sales 4,267.7 4,4904,610 +120
Operatingincome 290.2 355380 +25
Music
Sales 1,619.0 1,7401,790 ＋50
Operatingincome 301.7 330340＋10
Pictures
Sales 1,493.1 1,5101,510 –
Operatingincome 117.7 115115 –
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 1,7701,790 ＋20
Operatingincome 193.5 250250 –
All Other, Corporate and
elimination
Operating income – 55.2 -75 -85
-10
Sony without Financial Services
Sales 11,265.0 11,80011,900 +100
Operatingincome 1,035.3
1,1651,190 +25
Financial Services
Revenue 1,770.0 9101,300 +390
Operatingincome 173.6 145145 – 57
Consolidated total Sales 13,020.812,71013,200 +490
Operatingincome 1,208.8 1,3101,335 +25

15
Game & Network Services Segment (G&NS Segment)
Q3 FY 2024 (year- on-year)
 Sales :237. 9bln yen (16% )significant increase(FXImpact :+ 35. 9bln yen)
·(+) Increase insales ofhardware duetoan increase inunit sales
·(+) Increase insales ofnon- first-party game software titlesincluding add-on content
 OI: 31.9 blnyen ( 37%) significant increase (FX Impact: -2.9 blnyen)
/ Adjusted OIBDA: 34.9 blnyen (31%) significant increase
·(+) Impact ofincrease insales fromnetwork services
·(+) Impact ofincrease insales ofnon- first-party game software titles
·(+) Decrease inlosses fromhardware
·( ー )Impact ofdecrease insales offirst -party game software titles
FY2024 Forecast (change fromNovember forecast)
 Sales:120 blnyen (3 % )upward revision
·(+)Impact offoreign exchange rates
·(+) Increase insales fromnetwork services
 OI: 25bln yen（7 %)upward revision
/ Adjusted OIBDA: 25 bln yen (5%) upward revision
·(+)Impact ofincrease insales fromnetwork services
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Operating Income
Adjusted OIBDA
4,267.7 4,490
4,610
290.2 355380
407.9
475
500
FY23FY24
November FCT FY24
February FCT
Q3 FY23 Q3 FY24
1,444.4 1,682.3
86.1 118.1
113.1 148.0

16
Q3 FY 2024 (year- on-year)
 Sales: 59.6 blnyen (14%) significant increase (FX Impact: +10.9 blnyen)
・(+) Higher revenues fromstreaming servicesinRecorded MusicandMusic Publishing
・ (+) Higher revenues fromstreaming servicesexcluding thebelow one-time factor
・ (+) Higher revenues duetoaone -time factor* inRecorded Music
・( +) Impact ofthe consolidation ofeplus inc.in Visual Media&Platform
・( +) Impact offoreign exchange rates
 OI: 21.3 blnyen (28%) significant increase
/ Adjusted OIBDA: 22.9 blnyen (23%) significant increase
・(+) Impact ofincrease insales
FY 2024 Forecast (change fromNovember forecast)
 Sales:50 bln yen (3 % )upward revision
・(+) Impact offoreign exchange rates
・( +) Impact ofthe consolidation ofeplus inc.in Visual Media&Platform
 OI :10 bln yen (3 % )upward revision
/ Adjusted OIBDA:10 bln yen (2 % )upward revision
・(+) Positive impactofforeign exchange rates
Sales
Adjusted OIBDA
Operating Income
FY23 FY24
November FCT FY24
February FCT
Q3 FY23 Q3 FY24
422.1 481.7
76.1 97.4
98.5 121.4
1,619.0
1,740
1,790
301.7 330
340
368.7
420
430
Music Segment
Sales, Operating Income and Adjusted OIBDA
(Bln Yen)
*The impact of a change in revenue recognition from a net basis to a gross basis
for sales from a digital service provider

17
Pictures Segment
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
FY23 FY24
November FCT FY24
February FCT
Q3 FY23 Q3 FY24
1,493.1 1,510
1,510
117.7
115 115
171.2
170
170
366.3 398.2
41.6 34.0
54.6
47.1
Q
3 FY 2024 (year- on-year)
The following analysis is on a U.S. dollar basis
 Sales: 31.9 blnyen (9%) increase (U.S. dollar basis: +145 mil USD / +6%)
·(+) Higher revenues from theatrical releases in the current fiscal year
·(+) Impact of the acquisition of Alamo Drafthouse Cinema
·(+) Higher revenues for Crunchyroll mainly due to paid subscriber growth
·(ー ) Lower series deliveries in Television Productions
·( ー ) Lower licensing revenues from catalog product in Motion Pictures
 OI: 7.6 blnyen (18%) decrease (U.S. dollar basis: -58 mil USD / -21%)
/ Adjusted OIBDA :7.5 blnyen (14%) decrease
(U.S. dollar basis: -60 mil USD / -16%)
·( ー ) Higher marketing costs for theatrical releases
FY 2024 Forecast (change fromNovember forecast)
 Sales:Remains unchanged fromNovember forecast
·(+) Impact of foreign exchange rates
·( ー ) Lower revenues from theatrical releases in the current fiscal year
 OI / Adjusted OIBDA: Remain unchanged from Novemberforecast

18
Entertainment, Technology & Services Segment (ET&S Segment)
Q3 FY 2024 (year- on-year)
 Sales :31. 2bln yen (4 % )decrease (FXImpact :+ 12. 8bln yen)
·(ー ) Decrease in sales of televisions due to a decrease in unit sales
·( +) Impact of foreign exchange rates
 OI: Essentially flat (FX Impact: +0.9 blnyen)
/ Adjusted OIBDA: Essentially flat
·(ー ) Impact of lower unit sales of televisions
·( ー ) Impact of deterioration of the product mix of digital cameras
·( +) Reductions in operating expenses
FY 2024 Forecast (change fromNovember forecast)
 Sales:Remains unchanged fromNovember forecast
 OI/Adjusted OIBDA:Remain unchanged fromNovember forecast
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
Q3 FY23 Q3 FY24
2,453.7
2,420 2,420
187.4 190
190
289.1
290 290
735.7
704.5
77.2 77.1
103.4
102.5
FY23FY24
November FCT FY24
February FCT

19
Imaging & Sensing Solutions Segment (I&SS Segment)
Q3 FY 2024 (year- on-year)
 Sales :Essentially flat(FX Impact :+ 17. 3bln yen)
·(ー ) Decrease in sales of image sensors for mobile products
·( ー ) Decrease in unit sales
·( +) Impact of foreign exchange rates
 OI: 2.2 blnyen (2%) decrease (FX Impact: +11.8 blnyen)
/ Adjusted OIBDA: Essentially flat
·(ー ) Increase in manufacturing costs
·( ー ) Impact of decrease 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
FY2024 Forecast (change fromNovember forecast)
 Sales:20 bln yen ( 1 % )upward revision
·(+) Impact of foreign exchange rates
 OI/Adjusted OIBDA:Remain unchanged fromNovember forecast
Sales, Operating Income and Adjusted OIBDA
(Bln Yen) Sales
Adjusted OIBDA
Operating Income
FY23 FY24
November FCT FY24
February FCT
1,602.7 1,770
1,790
193.5 250
250
441.4
525 525
505.2
500.9
99.7 97.5
163.7
165.5
Q3 FY23
Q3 FY24

20
Financial Services Segment
Q3 FY 2024 (year- on-year)
 Revenue :406. 7bln yen (130% )significant increase
·( +) Significant increase in revenue at Sony Life
(400.8 blnyen increase, revenue: 649.9 blnyen)
· ( +) Increase in net gains on investments related to market fluctuations for both
the general account and the separate accounts
 OI: 30.9 blnyen (40%) significant decrease
/ Adjusted OIBDA: 31.1 blnyen (37%) significant decrease
·( ー )Significant decrease in OI at Sony Life (29.5 blnyen decrease, OI: 42.2 blnyen)
· ( ー )Deterioration in net gains and losses related to market fluctuations, mainly for
minimum guarantees for variablelifeinsurance
FY2024 Forecast (change fromNovember forecast)
 Revenue:390 blnyen (43% )upward revision
·( +) Increase in net gains related to market fluctuations for the separate accounts at
Sony Life
 OI / Adjusted OIBDA: Remain unchanged from November forecast
· ( +) Increase in net gains related to market fluctuations, mainly for minimum
guarantees for variable life insurance at Sony Life
·( －) Loss associated with the sale of bonds at Sony Life
· ( －) Uncertainties in market fluctuation
(Bln Yen) Financial Services Revenue
Operating Income
Adjusted OIBDA
FY23 FY24
November FCT FY24
February FCT
Q3 FY23 Q3 FY24
1,770.0
9101,300
173.6 145145
181.5
170 170
311.7 718.5
77.3 46.4
84.3
53.2
Financial Services Revenue,
Operating Income and Adjusted OIBDA

21
Financial Services Segment
Insurance Service Result *1
Other Result
2.3 2.1 2.3
2.2 2.2 2.4
1.0 1.1
1.1 1.1 1.2
1.2
217%
183%196%
198%
184%199%
M N
O P
Q1
Q2Q3Q4Q1Q2Q3Q4
42.7 48.0
46.4
34.0 41.8
49.0
41.3
22.4
-16.7 46.1
-11.0 4.8
27.5
20.7
– 19.2
-21.4 –
20.9
-24.1 –
20.9 –
19.8 -19.8
-50 0
50
100 150
Q1
Q2Q3Q4Q1Q2Q3Q4
Sony Life Operating Income Breakdown
Investment Result
（Bln Yen ）
Adjusted Net Income *3
Other *2
FY24
FY23
19.2 21.5
19.6
10.2 17.0
22.6
17.9
24.6 25.1
23.1
16.1 20.1 28.7
20.3
0 5
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 t heFY23 figures disclosed in the materials for the business segment meeting held on May 31, 2024have 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 Q3 FY24 will be disclosed on
Sony Group Corporation’s
website on February 19, 2025.

22
Financial Services Segment
FY23FY24
Q1 Q2Q3Q4Q1Q2Q3Q4
Pre-tax net income (loss) (Operating Income) *1 54.5 15.777.326.130.065.7 46.4
PostJtax net income (lossF 38.510.755.019.821.546.7 32.7
SFGI related adjustments JJJJJJ J
Sony Life related adjustments J13.9 14.4J31.9 11.0 J1.Q J18.1 J12.4
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
-473.4
Unrealized gains/losses *4 related to variable insurance
within insurance financial gains/losses and foreign
currency translation differences 447.8
-93.3 46.4458.1 216.8-324.6
463.0
Gains/losses on sales of securities -16.0 -0.6 -0.1 11.3 -0.6 -0.3 -0.2
Other one -time gains/losses —— -6.7
Tax effects related to the above 5.4-5.6 12.5 -4.3 0.67.1 4.9
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
-12.4 .
Adjusted post -tax net income (loss) 24.625.123.116.120.128.7 20.3
Reconciliations from Net Income to Adjusted Net Income
*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 designat ed 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.
(Bln Yen)

23
Reconciliation Table for Adjusted EBITDA (Q3)
Sony without Financial Services Consolidated
Q3 FY23 Q3 FY24
Q3 FY23Q3 FY24
Net income attributable to Sony Group Corporation’s stockholders
308.9 341.1363.9 373.7
Net income attributable to noncontrolling interests 3.31.83.5 1.8
Income taxes 69.1104.8 91.2 118.5
Interest expenses / (income), net, recorded in Financial income
(expense)
2.1 -5.3 2.1 -5.3
(Gain) / loss on revaluation of equity instruments, net, recorded in
Financial income (expense)
-20.6 -11.2 -20.6 -11.2
Depreciation and amortization expense *1 157.9 164.7164.9 171.5
Non-recurring (profit) / loss *2 ー －－ －
Adjusted EBITDA 520.7 595.9605.0 649.1
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)

24
Results and Reconciliation Table for Adjusted OIBDA by Segment (Q3)
Q3 FY23Q3 FY24Change
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) 86.1 27.0 －113.1 118.1 29.9 －148.0 +34.9
Music 76.1 22.4 －98.5 97.4 24.0 －121.4 +22.9
Pictures 41.6 12.9 －54.6 34.0 13.0 －47.1 -7.5
Entertainment, Technology
& Services (ET&S) 77.2 26.2 －103.4 77.1 25.4 －102.5 -0.9
Imaging & Sensing
Solutions ( I&SS) 99.7 64.0 －163.7 97.5 68.0 －165.5 +1.8
All Other 2.6 1.1 －3.7 -3.0 1.1 －-1.9 -5.7
Corporate and elimination 2.7 4.2 －6.9 1.8 3.3 －5.1 -1.8
.
Sony without Financial
Services 386.1 157.9 －544.0 423.0 164.7 －587.7 +43.7
Financial Services 77.3 7.0－84.3 46.4 6.8－53.2 -31.1
Consolidated total 463.3 164.9 －628.3 469.3 171.5 －640.9 +12.6
(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.

25
Reconciliation Table for Adjusted EBITDA (Q1-Q3)
Sony without Financial
Services Consolidated
Q1
-Q3 FY23
Q1-Q3 FY24 Q1
-Q3 FY23
Q1-Q3 FY24
Net income attributable to Sony Group Corporation’s stockholders 727.5 843.0781.6943.9
Net income attributable to noncontrolling interests 4.57.44.97.4
Income taxes 162.8268.7205.7309.9
Interest expenses / (income), net, recorded in Financial income
(expense)
4.7 -4.0 4.7-4.0
(Gain) / loss on revaluation of equity instruments, net, recorded in
Financial income (expense)
-30.2 -58.3 -30.2 -58.3
Depreciation and amortization expense *1 456.0 498.3476.9518.8
Non-recurring (profit) / loss *2 – 6.0 －-6.0 －
Adjusted EBITDA 1,319.3 1,555.01,437.61,717.6
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)

26
Results and Reconciliation Table for Adjusted OIBDA by Segment (Q1-Q3)
Q1 -Q3 FY23 Q1-Q3 FY24 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) 184.2 87.9 －272.1 322.1 90.5 －412.6 +140.6
Music 230.5 54.1-6.0 278.5 273.7 67.2 －340.9 +62.3
Pictures 87.0 38.5 －125.6 63.8 43.5 －107.4 -18.2
Entertainment, Technology
& Services (ET&S) 193.8 78.0 －271.8 211.3 77.3 －288.6 +16.8
Imaging & Sensing
Solutions ( I&SS) 158.8 182.1 －340.9 226.6 206.0 －432.6 +91.7
All Other 7.1 3.4 －10.5 -8.2 3.7 －-4.5 -15.0
Corporate and elimination -29.6 12.1 －-17.4 -27.9 10.1 －-17.8 -0.4
. .
Sony without Financial
Services 831.9456.0 -6.0 1,281.9 1,061.4 498.3 －1,559.7 +277.8
Financial Services 147.5 20.9 －168.4 142.1 20.5 －162.5 -5.9
Consolidated total 979.4 476.9 -6.0 1,450.3 1,203.5 518.8 －1,722.3 +272.0
(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.

27
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
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)

28
Forecast for Adjusted OIBDA by Segment
FY23FY24
November FCT FY24
February FCT Change from
November 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 475500 +25
Music 301.7 73.1-6.0 368.7 420430 +10
Pictures 117.7 53.5 －171.2 170170 －
Entertainment, Technology &
Services (ET&S) 187.4101.7 －289.1 290290 －
Imaging & Sensing Solutions
(I&SS) 193.5247.9 －441.4 525525 －
All Other, Corporate and
elimination -55.2 21.5 －-33.7 -55 -65 -10
Sony without Financial
Services 1,035.3 615.4-6.0 1,644.6 1,8251,850 +25
Financial Services 173.627.7-19.8 181.5 170170 －
Consolidated total 1,208.8643.1-25.8 1,826.1 1,9952,020 +25
(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.

29
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 incom e 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 (“SM E”) 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 aggregati on 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 sales and selling, general and administrative expenses calculated
by applying the same major transactional currencies calculation process to cost of sales and selling, general and administrat iveexpenses 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 SPEin U.S. dollars, so discussion of certain portions of its results is specified as being on “a U.S. dollar basis”.
The Financial Services segment results include SFGI and SFGI’sconsolidated 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’sconsolidated subsidiaries disclose separately on a Japanese statutory basis.

30
Cautionary Statement
Statements made in this material with respect to Sony’s current plans, estimates, strategies and beliefs and other statementsthat 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 ofthe information currently available to it. Sony cautions investors that a number ofimportant risks and
uncertainties could cause actual results to differ materially from those discussed in the forward -looking statements, and theref ore 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 ofnew information, future events 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 ofsignificant volatility and disruption in the global financial 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 financial 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 uncertainties is also set forth in Sony’s most recent Form 20-F,
which is on file with the U.S. Securities and Exchange Commission.