Sony Group Corporation (SONY) Q3 2022 Earnings Call Transcript

Sony Group Corporation (NYSE:SONY) Q3 2022 Earnings Conference Call February 2, 2022 2:00 AM ET

Company Participants

Daisuke Ishii - Head of Creative Center, Sony Group Corporation

Kenichiro Yoshida - Chairman, President and CEO, Representative Corporate Executive Officer

Hiroki Totoki - Executive Deputy President and CFO, Representative Corporate Executive Officer

Naomi Matsuoka - Senior Vice President, In charge of Corporate Planning and Control, Support for Finance Business and Entertainment Area

Sadahiko Hayakawa - Senior Vice President, In charge of Finance and IR

Conference Call Participants

Shimai Kenta - NHK

BofA Securities - Hirakawa-san

Ryosuke Katsura - SMBC Securities

Daisuke Ishii

Ladies and gentlemen, thank you for joining us today, despite short notice. We would like to start the press conference for the announcement of changes to Sony Group's Management Structure. And today I will be the Master of Ceremony. My name's Ishii from Corporate Communication Department. Nice to meet you.

Now I would like to introduce to you who are on the stage, Mr. Kenichiro Yoshida, currently Director, Representative, Corporate Executive Officer, Chairman, President and Chief Executive Officer; who will assume Director Representative of Corporate Executive Officer, Chairman, CEO as of April 1st this year. And Mr. Hiroki Totoki, Director Representative, Corporate Executive Officer, Executive Deputy President and Chief Financial Officer who become Director Representative, Corporate Executive Officer, present Chief Operating Officer and Chief Financial Officer. The speeches will be made in the order of Mr. Yoshida and then Mr. Totoki, and we'll take questions afterwards. After the Q&A session, we will have about five minutes for photo session.

Overall, we plan to have about 40 minutes for this press conference, and then followed by the briefing on the Q3 result. Mr. Yoshida, please take the podium.

Kenichiro Yoshida

Thank you all for coming today, despite the short notice. I would like to explain the executive changes announced today. Effective on April 1st, Hiroki Totoki, currently Executive Deputy President and CFO will be appointed, President, COO and CFO, and I will become Chairman and CEO. These changes are intended to strengthen our Group Management Structure. From April onwards, we will describe for the further evolution and growth of Sony and this new management structure.

First, I'd like to touch on the background of these management changes. Sony is engaged in the diverse businesses based on our purpose to fill the world with emotion through the power of creativity and technology. Furthermore, in April 2021, we transitioned to a new group architecture and established Sony Group Corporation, which is aligned with all our businesses in an equidistant manner.