SONY - Sony Group Corporation (SONY) Q3 2024 Earnings Call Transcript
2024-02-14 07:25:04 ET
Sony Group Corporation (SONY)
Q3 2024 Earnings Conference Call
February 14, 2024, 02:00 ET
Company Participants
Hiroki Totoki - President, COO & CFO
Sadahiko Hayakawa - General Manager, Finance Department
Conference Call Participants
Kenji Yasui - UBS
Kentaro Tsutsumi - Nikkei Shimbun Newspaper
Yu Okazaki - Nomura Securities
Ryosuke Katsura - SMBC Nikko Securities
Junya Ayada - JPMorgan Chase & Co.
Yasuo Nakane - Mizuho Securities Co.
Masahiro Ono - Morgan Stanley
Presentation
Unidentified Company Representative
We will now begin FY 2023, Q3 consolidated financial results Corporation. I am Okada, the Corporate Communications, I am master of ceremonies. People on the stage are Mr. Hiroki Totoki, President, COO and CFO; Ms. Naomi Matsuoka, Senior Vice President in charge of Corporate Planning and Control, Lead of Group Diversity Equipment and inclusion, support for financial services and entertainment area; Mr. Sadahiko Hayakawa, Senior Vice President in charge of Finance and IR. These 3 people will be explaining the FY '23 Q3 results and full year forecast, followed by Q&A. A total of 70 minutes is allocated.
Mr. Totoki, the floor is yours.
Hiroki Totoki
Today, after Mr. Matsuoka and Mr. Hayakawa explained the content shown here, I will summarize the entire earnings briefly.
Mr. Hayakawa, please go ahead. Matsuoka and Hayakawa will explain.
Sadahiko Hayakawa
Consolidated sales for the quarter were ¥3,747.5 billion, a significant increase of 22% compared to the same quarter of the previous fiscal year, a record high on a quarterly basis. And the consolidated operating income increased ¥41.8 billion year-on-year to ¥463.3 billion, the second highest level on a quarterly basis.
Net income increased ¥42.4 billion year-on-year to ¥363.9 billion, and adjusted EBITDA increased ¥75.5 billion to ¥605 billion.
Nine-month cumulative consolidated operating cash flow, excluding the Financial Services segment was ¥618.5 billion. The full year forecast is for sales to be ¥2.3 billion, a decrease of ¥100 billion from the previous forecast for operating income to be ¥1.180 trillion, an increase of ¥10 billion from the previous forecast. And for net income to be ¥920 billion, an increase of ¥40 billion from the previous forecast.
Adjusted EBITDA is expected to be ¥1.770 trillion, a decrease of ¥15 billion from the previous forecast, primarily reflecting the impact of the foreign exchange rate on nonoperating profit and loss. The consolidated operating cash flow forecast, excluding the Financial Services segment, is expected to be ¥1.80 trillion, a decrease of ¥80 billion from the previous forecast, mainly reflecting an increase in working capital in the G&NS segment....
Sony Group Corporation (SONY) Q3 2024 Earnings Call Transcript