Slug: sony · Queue id: 101 · Theme: hardware
Researched: 2026-10-16 · Home market: Japan
Sources: Sony IR FY2025 Consolidated Financial Results (May 8, 2026 presentation + supplemental), Form 6-K / earnings materials, Form 20-F FY2025 (employees), Sony.com IR / About.
Labels: FACT = stated in a primary company filing or IR release; SECONDARY = reputable press restating company figures; INFERENCE = calculated from stated figures or FX conversion.
Sony Group Corporation (TSE: 6758 / NYSE: SONY) is a Tokyo-based entertainment and electronics group. Continuing-operations segments for FY2025: Game & Network Services (G&NS) (PlayStation), Music, Pictures, Entertainment, Technology & Services (ET&S) (cameras, TVs, audio, etc.), and Imaging & Sensing Solutions (I&SS) (image sensors). Effective October 1, 2025, Sony executed a partial spin-off of Sony Financial Group Inc.; Financial Services is presented as a discontinued operation and is not in continuing sales. Fiscal year = April 1–March 31 (FY2025 = year ended March 31, 2026).
| Metric | FY2025 | FY2024 | Source |
|---|---|---|---|
| Sales | ¥12,479.6B (+4% / +¥444.7B) | ¥12,034.9B | FACT — FY2025 Consolidated Financial Results (May 8, 2026) |
| Operating income | ¥1,447.5B (+13%) | ¥1,276.6B | FACT — same |
| OI margin | 11.6% | 10.6% | FACT — same |
| Net income attrib. (continuing) | ¥1,030.9B (−3%) | ¥1,067.4B | FACT — same |
| Avg FX | ¥150.7 / USD | ¥152.5 / USD | FACT — same presentation |
USD convenience for atlas ranking (INFERENCE): ¥12,479.6B ÷ 150.7 ≈ $82.8B revenue; OI ≈ $9.6B; continuing NI ≈ $6.8B. REF_FX has no JPY; use Sony’s published average rate, labeled INFERENCE.
Consolidated net income including discontinued operations was a loss (large discontinued-ops charge related to the Financial Services spin-off) — do not use that loss as the continuing-ops profit figure. Canvas profit lines use continuing OI / continuing NI.
| Segment | Sales | OI | Notes |
|---|---|---|---|
| G&NS | 4,685.7 | 463.3 | Largest; digital software + network up; hardware units down |
| Music | 2,120.1 | 447.0 | +15% sales; streaming + live / Visual Media |
| Pictures | 1,499.3 | 104.9 | Roughly flat; Crunchyroll strength |
| ET&S | 2,260.5 | 158.6 | −6% sales; Displays unit decline |
| I&SS | 2,151.5 | 357.3 | +20% sales; mobile image sensors |
| All Other | 89.1 | −74.6 | Includes Sony Honda Mobility equity losses |
| Corp. & elim. | −326.6 | −8.9 | |
| Continuing | 12,479.6 | 1,447.5 |
External sales by product category (FY2025, yen millions, FACT SEC/IR): G&NS Digital Software & Add-on ¥2,415,305; Network Services ¥763,126; Hardware & Others ¥1,391,622; Music total ¥2,090,534 (streaming ¥852,672 recorded); Pictures ¥1,486,296; ET&S ¥2,184,815; I&SS ¥2,059,020.
From FY25.4Q Supplemental Information (millions of yen, location of customers):
| Region | FY2025 | Share (INFERENCE) |
|---|---|---|
| Japan (home) | 1,333,202 | 10.7% |
| United States | 4,064,440 | 32.6% |
| Europe | 2,826,805 | 22.7% |
| China | 1,428,677 | 11.4% |
| Asia-Pacific | 1,694,889 | 13.6% |
| Other Areas | 1,131,607 | 9.1% |
| Total | 12,479,620 | 100% |
Share outside Japan = 89.3% (INFERENCE: (12,479,620 − 1,333,202) / 12,479,620).
Sony earns from (1) PlayStation hardware, first- and third-party software, and network subscriptions/services; (2) recorded music, publishing, and related; (3) filmed entertainment and anime (incl. Crunchyroll); (4) consumer electronics (cameras, TVs, audio); and (5) image sensors sold to smartphone OEMs. Main Money Map engine for this canvas = hardware (consoles + ET&S devices + I&SS sensors remain a core product-sales engine alongside large digital/content layers) — reviewed override; G&NS is the largest segment by sales.
# Sony Group Corporation — research brief **Slug:** `sony` · **Queue id:** 101 · **Theme:** hardware **Researched:** 2026-10-16 · **Home market:** Japan **Sources:** Sony IR FY2025 Consolidated Financial Results (May 8, 2026 presentation + supplemental), Form 6-K / earnings materials, Form 20-F FY2025 (employees), Sony.com IR / About. Labels: **FACT** = stated in a primary company filing or IR release; **SECONDARY** = reputable press restating company figures; **INFERENCE** = calculated from stated figures or FX conversion. --- ## Company Sony Group Corporation (TSE: 6758 / NYSE: SONY) is a Tokyo-based entertainment and electronics group. Continuing-operations segments for FY2025: **Game & Network Services (G&NS)** (PlayStation), **Music**, **Pictures**, **Entertainment, Technology & Services (ET&S)** (cameras, TVs, audio, etc.), and **Imaging & Sensing Solutions (I&SS)** (image sensors). Effective October 1, 2025, Sony executed a partial spin-off of Sony Financial Group Inc.; Financial Services is presented as a **discontinued operation** and is not in continuing sales. Fiscal year = April 1–March 31 (FY2025 = year ended March 31, 2026). ## Full-year financials (FY2025, continuing operations) | Metric | FY2025 | FY2024 | Source | |--------|--------|--------|--------| | Sales | **¥12,479.6B** (+4% / +¥444.7B) | ¥12,034.9B | FACT — FY2025 Consolidated Financial Results (May 8, 2026) | | Operating income | **¥1,447.5B** (+13%) | ¥1,276.6B | FACT — same | | OI margin | 11.6% | 10.6% | FACT — same | | Net income attrib. (continuing) | ¥1,030.9B (−3%) | ¥1,067.4B | FACT — same | | Avg FX | ¥150.7 / USD | ¥152.5 / USD | FACT — same presentation | USD convenience for atlas ranking (INFERENCE): ¥12,479.6B ÷ 150.7 ≈ **$82.8B** revenue; OI ≈ **$9.6B**; continuing NI ≈ **$6.8B**. REF_FX has no JPY; use Sony’s published average rate, labeled INFERENCE. Consolidated net income including discontinued operations was a loss (large discontinued-ops charge related to the Financial Services spin-off) — **do not** use that loss as the continuing-ops profit figure. Canvas profit lines use continuing OI / continuing NI. ## Segment sales (FY2025, bln yen, before intersegment elim.) | Segment | Sales | OI | Notes | |---------|-------|-----|-------| | G&NS | 4,685.7 | 463.3 | Largest; digital software + network up; hardware units down | | Music | 2,120.1 | 447.0 | +15% sales; streaming + live / Visual Media | | Pictures | 1,499.3 | 104.9 | Roughly flat; Crunchyroll strength | | ET&S | 2,260.5 | 158.6 | −6% sales; Displays unit decline | | I&SS | 2,151.5 | 357.3 | +20% sales; mobile image sensors | | All Other | 89.1 | −74.6 | Includes Sony Honda Mobility equity losses | | Corp. & elim. | −326.6 | −8.9 | | | **Continuing** | **12,479.6** | **1,447.5** | | External sales by product category (FY2025, yen millions, FACT SEC/IR): G&NS Digital Software & Add-on ¥2,415,305; Network Services ¥763,126; Hardware & Others ¥1,391,622; Music total ¥2,090,534 (streaming ¥852,672 recorded); Pictures ¥1,486,296; ET&S ¥2,184,815; I&SS ¥2,059,020. ## Geography (FY2025 sales to customers) From FY25.4Q Supplemental Information (millions of yen, location of customers): | Region | FY2025 | Share (INFERENCE) | |--------|--------|-------------------| | Japan (home) | 1,333,202 | **10.7%** | | United States | 4,064,440 | 32.6% | | Europe | 2,826,805 | 22.7% | | China | 1,428,677 | 11.4% | | Asia-Pacific | 1,694,889 | 13.6% | | Other Areas | 1,131,607 | 9.1% | | **Total** | **12,479,620** | 100% | **Share outside Japan = 89.3%** (INFERENCE: (12,479,620 − 1,333,202) / 12,479,620). ## Headcount / engagement - Consolidated employees at March 31, 2026: **~94,900** (FACT, Form 20-F / securities report; down from 112,300 at March 31, 2025 after Financial Services spin-off). - PlayStation Monthly Active Users (March 2026): **125 million** accounts (FACT, company estimate in G&NS earnings narrative). ## Business model (plain language) Sony earns from (1) PlayStation hardware, first- and third-party software, and network subscriptions/services; (2) recorded music, publishing, and related; (3) filmed entertainment and anime (incl. Crunchyroll); (4) consumer electronics (cameras, TVs, audio); and (5) image sensors sold to smartphone OEMs. Main Money Map engine for this canvas = **hardware** (consoles + ET&S devices + I&SS sensors remain a core product-sales engine alongside large digital/content layers) — reviewed override; G&NS is the largest segment by sales. ## What we did **not** invent - No ARR, valuation, or market-share claims beyond IR. - No annualizing of quarters; all ranking figures are full FY2025 continuing operations. - USD from yen uses Sony’s stated average ¥150.7/USD, labeled INFERENCE. ## Key primary URLs - https://www.sony.com/en/SonyInfo/IR/library/presen/er/pdf/25q4_sonypre.pdf - https://www.sony.com/en/SonyInfo/IR/library/presen/er/pdf/25q4_supplement.pdf - https://www.sec.gov/Archives/edgar/data/313838/000110465926057456/tm2613222d2_6k.htm - https://www.sony.com/en/SonyInfo/IR/library/FY2025_20F_PDF.pdf - https://www.sony.com/en/SonyInfo/IR/