Sony Corporation (6758.T) – Earnings may suffer as the hardware industry shrink

Sony Corporation (6758.T) (Q1FY24)

Stock performance: Sony Corporation’s stock price showed a volatile trend in the past 3-month period and gave (6%) return. The price declined by 23% in the past 1 year. The stock has a 52-week high of ¥14,100 and a 52-week low of ¥9,882.

Quarter Performance: In Q1FY24, revenue increased 33% to ¥2.96tn as compared to ¥2.22tn in Q1FY23 due to an increase in sales in the Financial Services, Game & Network Services (“G&NS”), Imaging & Sensing Solutions (“I&SS”) and Music segments.

Highlights

The Game & Network Services (G&NS) segment is arguably the most critical division within the Sony Group. Sony is widely recognized for its PlayStation game consoles, and the G&NS segment stands out as the largest revenue contributor among all its business units. In Q1FY24, there was a substantial Y/Y sales increase of ¥167.8bn, amounting to ¥771.9bn.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– PE Band Comparison
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10-Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Developments
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 41

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