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Sony Group Corporation (SONY) Management on Q1 2022 Results - Earnings Call Transcript

Aug. 04, 2021 10:41 AM ETSony Group Corporation (SONY), SNEJF
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Sony Group Corporation (NYSE:SONY) Q1 2022 Earnings Conference Call August 4, 2021 3:00 AM ET

Company Participants

Hiroki Totoki - CFO

Sadahiko Hayakawa - IR

Conference Call Participants

Yuri Furukawa - Bloomberg

Junya Ayada - JPMorgan

Yasuo Nakane - Mizuho Securities

Ryosuke Katsura - SMBC Nikko Securities

Masahiro Ono - Morgan Stanley

Unidentified Company Representative

Ladies and gentlemen, it is now time to start Sony Group Corporation's Fiscal 2021 First Quarter Earnings Announcement. And my name is [Okada], in charge of Corporate Communications. I shall be serving as the emcee today.

Now this session is being held for journalists, analysts and institutional investors to whom we have sent out invitations in advance. And this is being live webcast through our Investor Relations website today. First, we have Hiroki Totoki, the Executive Deputy President and CFO, to present to you the fiscal 2021 consolidated results and also the consolidated results forecast for fiscal 2021. And then we'll have a Q&A session. The duration is about 70 minutes.

Mr. Totoki, please.

Hiroki Totoki

Thank you very much. And I would like to talk about these 2 topics today. We have changed our accounting standards to IFRS from the current fiscal year. So the results for the current quarter or forecast for the current fiscal year and the results for the previous fiscal year, which I will explain today, are all based on IFRS.

Fiscal ‘21 first quarter consolidated sales increased 15% compared to the same quarter of the previous fiscal year to ¥2,256.8 billion and consolidated operating income increased a significant ¥58.3 billion year-on-year to ¥280.1 billion, both record highs for the first quarter.

Income before income taxes increased ¥14.6 billion year-on-year to ¥283.2 billion and net income attributable to Sony Group Corporations’s shareholders increased ¥18.2 billion to ¥211.8 billion. This slide shows the result by segment

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