Sony Group Corporation (NYSE:SONY) Q2 2024 Results Conference Call November 8, 2024 2:00 AM ET
Company Participants
Hiroki Totoki - President, COO, CFO
Naomi Matsuoka - Senior Vice President in Charge of Corporate Planning and Control
Sadahiko Hayakawa - SVP, Finance, IR
Kazuhiro Yamada - Sony Financial Group Inc. Corporate Executive Officer and CFO
Conference Call Participants
Hayato Umegaki - Toyo Keizai
Hisashi Iwato - Nikkei Business
Ryo Sato - Nikkei
Ryosuke Katsura - SMBC Nikko Securities
Junya Ayada - JPMorgan Chase
Kota Ezawa - Citigroup
Kenji Yasui - UBS
Yasuo Nakane - Mizuho Securities
Unidentified Company Representative
Okay. It is time to start Sony Group Corporation's consolidated financial results announcement session. And my name is Okada. I'm with the Sony Group Corporate Communications.
First, let me introduce the people on the stage. First, we have President, COO and CFO, Mr. Hiroki Totoki. And we have a Senior Vice President in Charge of Corporate Planning and Control, Lead of Group Diversity, Equity and Innovation and Support for Financial Services Business and Entertainment area, Ms. Naomi Matsuoka; and the Senior Vice President in charge of Finance and IR, Mr. Sadahiko Hayakawa; and also Sony Financial Group Inc. Corporate Executive Officer and CFO, Mr. Kazuhiro Yamada. These four will be presenting the second -- 2024 quarter actual and full year forecast and then have the Q&A session in total of 70 minutes.
Mr. Totoki, please.
Hiroki Totoki
Okay. Thank you. Today Matsuoka-san, Hayakawa-san and Yamada-san will explain the contents shown here, and I will give a general summary at the end.
Hayakawa-san, please.
Sadahiko Hayakawa
Okay. Thank you. So consolidated sales, excluding the Financial Services segment for the quarter, increased 9% compared to the same quarter of the previous fiscal year ¥2,973.4 billion. Operating income increased 57% to ¥389.3 billion, a record high for the second quarter and the first half of the fiscal year. Consolidated sales, including the Financial Services segment, increased 3% year-on-year to ¥2,905.6 billion. Operating income increased 73% to ¥451.1 billion, a record high for the second quarter. And net income increased 69% to ¥338.5 billion. The results by segment for the quarter are shown on the slide.
Next, I will explain our consolidated results forecast for FY ‘24 full year. Consolidated sales, excluding the Financial Services segment, have been increased slightly from the previous forecast to ¥11.800 trillion. Operating income is unchanged at ¥1.165 trillion, and operating cash flow has been increased ¥40 billion to ¥1.440 trillion. Consolidated sales, including the Financial Services segment, have been increased slightly from the previous forecast to ¥12.710 trillion. Operating income and net income are unchanged at ¥1.310 trillion and ¥980 billion, respectively. The full year forecast by segment is shown here.