SONY 0001104659-25-048017 6-K Filing: May 14, 2025

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of May 2025

Commission File Number: 001-06439

SONY GROUP CORPORATION

(Translation of registrant’s name into English)

1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN

(Address of principal executive offices)

The registrant files annual reports under cover of Form 20-F.

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F,

Form 20-F x	Form 40-F ¨

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SONY GROUP CORPORATION<br><br>(Registrant)
By:	/s/<br> Lin Tao
	(Signature)
Lin Tao
Chief Financial Officer

Date: May 14, 2025

List of Materials

Documents attached hereto:

Consolidated Financial Summary for the Fiscal Year Ended March 31, 2025

Consolidated Financial Summary for the Fiscal Year Ended March 31, 2025<br><br> <br><br><br> <br>(In accordance with IFRS^®^ Accounting<br> Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”))
May 14, 2025
---	---
Company name	: Sony Group Corporation
Stock exchange listing	: Tokyo Stock Exchange (“TSE”)
Securities code	: 6758
URL	: https://www.sony.com/en/SonyInfo/IR/
Representative	: Hiroki Totoki, Representative Corporate Executive Officer
Contact person	: Sadahiko Hayakawa, Senior Vice President
Telephone	: +81-3-6748-2111
Scheduled date of annual general meeting of Shareholders	: June 24, 2025
Scheduled date to commence dividend payment	: June 2, 2025
Scheduled date to file Annual securities report	: June 20, 2025
Preparation of supplementary materials on financial results	: Yes
Holding of financial results briefing	: Yes (for investors and analysts)
(Amounts are rounded to the nearest million yen, unless otherwise noted.)
---

1. Consolidated financial results for the fiscal year ended March 31,2025 (from April 1, 2024 to March 31, 2025)

(1) Consolidated operating results	(Percentages indicate year-on-year changes.)
Consolidated	Sales and financial<br><br> services revenue		Operating income		Income before income<br><br> taxes		Net income		Net income attributable to<br><br> Sony Group Corporation’s<br><br> stockholders
---	---	---	---	---	---	---	---	---	---	---
Fiscal Year ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
March 31, 2025	12,957,064	-0.5	1,407,163	16.4	1,473,726	16.2	1,159,887	18.3	1,141,600	17.6
March 31, 2024	13,020,768	18.6	1,208,831	-7.2	1,268,662	-0.5	980,494	-3.1	970,573	-3.5
Consolidated	Total comprehensive<br><br> income		Basic earnings<br><br> <br>per share^*1^	Diluted earnings<br><br> <br>per share^*1^	Return on equity <br><br>attributable to owners of<br><br> parent	Ratio of income before<br><br> income taxes to total<br><br> assets	Ratio of operating<br><br> income to sales
---	---	---	---	---	---	---	---
Fiscal Year ended	Yen in millions	%	Yen	Yen	%	%	％
March 31, 2025	959,230	-23.9	188.71	187.92	14.5	4.2	10.9
March 31, 2024	1,260,138	14.9	157.66	157.14	13.7	3.9	9.3

Reference: Share of profit (loss) of investments accounted for using the equity method

For the fiscal year ended March 31, 2025: ¥(7,801) million

For the fiscal year ended March 31, 2024: ¥10,502 million

*1   Sony Group Corporation conducted a five-for-one stock split of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above figures for basic earnings per share and diluted earnings per share are calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended March 31, 2024.

For all segments<br><br> excluding Financial<br><br> Services^*2^	Sales		Operating income		Income before income taxes		Net income attributable to Sony Group<br><br> Corporation’s stockholders
Fiscal Year ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
March 31, 2025	12,043,903	6.9	1,276,643	23.3	1,343,173	17.3	1,067,419	19.0
March 31, 2024	11,265,043	11.5	1,035,271	5.3	1,145,135	14.9	896,636	9.6

*2   Figures for all segments excluding Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony Group Corporation believes that these disclosures may be useful information to investors. For details about the preparation of the Financial Statements for all segments excluding Financial Services, please refer to page 17 of the Appendix.

For the results of Adjusted OIBDA (OperatingIncome Before Depreciation and Amortization) and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), pleaserefer to “FY2024 Consolidated Financial Results” (the presentation material for the earnings announcement) disclosed on thesame date as this document on the Timely Disclosure Network (“TDnet”) of the TSE, the Electronic Data Gathering, Analysis,and Retrieval (“EDGAR”) system of the U.S. Securities and Exchange Commission (the “SEC”) and the website of SonyGroup Corporation.

(2) Consolidated financial position

	Total assets	Total equity	Equity attributable to<br><br> <br>Sony Group Corporation’s<br><br> stockholders	Ratio of equity<br><br> <br>attributable to Sony Group<br><br> Corporation’s<br> stockholders <br><br>to total assets	Equity attributable to<br><br> owners of parent per<br><br> share^*3^
As of	Yen in millions	Yen in millions	Yen in millions	%	Yen
March 31, 2025	35,293,173	8,510,151	8,179,745	23.2	1,357.63
March 31, 2024	34,107,490	7,756,105	7,587,177	22.2	1,242.32

*3   Sony Group Corporation conducted a five-for-one stock split of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above figures for equity attributable to owners of parent per share are calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended March 31, 2024.

(3) Consolidated cash flows

	Cash flows from operating<br><br> activities	Cash flows from investing<br><br> activities	Cash flows from financing<br><br> activities	Cash and cash equivalents at<br><br> end of the fiscal year
Fiscal year ended	Yen in millions	Yen in millions	Yen in millions	Yen in millions
March 31, 2025	2,321,675	(930,120)	(298,243)	2,980,956
March 31, 2024	1,373,213	(818,886)	(210,709)	1,907,113

2. Dividends

	Annual dividends per share					Total cash dividends <br><br>(Total)	Payout ratio<br><br> (Consolidated)	Ratio of dividends<br><br> to equity<br><br> attributable to<br><br> owners<br> of parent<br><br> <br>(Consolidated)
	First<br><br> <br>quarter-end	Second<br><br> <br>quarter-end	Third<br><br> <br>quarter-end	Year-end	Total
	Yen	Yen	Yen	Yen	Yen	Yen in millions	%	%
Fiscal year ended<br><br> <br>March 31, 2024	-	40.00	-	45.00	85.00	104,271	10.8	1.5
Fiscal year ended<br><br> <br>March 31, 2025^*4^	-	50.00	-	10.00	-	120,597	10.6	1.5
Fiscal year ending<br><br> <br>March 31, 2026<br><br> <br>(Forecast)	-	12.50	-	12.50	25.00		-
Note:	Sony Group Corporation plans to execute a partial spin-off (the<br> “Spin-off”) of Sony Financial Group Inc. (“SFGI”), a wholly-owned subsidiary of Sony Group Corporation, which<br>operates the Financial Services business, in October 2025. However, the above dividend forecast for the fiscal year ending March 31,<br>2026 does not include the dividends in kind of the shares of SFGI from the Spin-off.
---	---

*4   Sony Group Corporation conducted a five-for-one stock split of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above year-end dividend per share for the fiscal year ended March 31, 2025 is based on a number of shares taking into account the stock split. The total annual dividend per share for the fiscal year ended March 31, 2025 is not presented because the total of the interim dividend and the year-end dividend cannot be calculated due to the effect of the stock split. Without taking the stock split into account, the year-end dividend per share for the fiscal year ended March 31, 2025 would be 50 yen and the total annual dividend per share for the fiscal year ended March 31, 2025 would be 100 yen.

3. Forecast for Consolidated Results for the Fiscal Year EndingMarch 31, 2026 (from April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)
Fiscal year ending March 31, 2026	Sales		Operating income		Income before income taxes		Net income attributable to Sony<br><br> Group Corporation’s stockholders
---	---	---	---	---	---	---	---	---
	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
Continuing operations	11,700,000	-2.9	1,280,000	0.3	1,280,000	-4.7	930,000	-12.9

Notes:

1      As a result of the resolution of the Board of Directors of Sony Group Corporation on May 14, 2025 on the plan for the execution of the above-mentioned Spin-off, the Financial Services business will be classified as a discontinued operation and presented separately from continuing operations, comprised of Sony’s businesses excluding the Financial Services business, from the first quarter of the fiscal year ending March 31, 2026, in accordance with IFRS Accounting Standards. Therefore, the above results forecast represents the forecast for continuing operations. Although the results for the fiscal year ended March 31, 2025, the comparative period, will be restated to conform to the classification of continuing operations and a discontinued operation in accordance with IFRS Accounting Standards from the first quarter of the fiscal year ending March 31, 2026, the results on such restated basis are currently undetermined. Therefore, the above percentages indicating year-on-year changes reflect comparisons with the results of all segments excluding Financial Services for the fiscal year ended March 31, 2025. The difference in results of continuing operations and results of all segments excluding Financial Services is the amount equivalent to intersegment transactions between the Financial Services segment and other segments, and such difference is expected to be immaterial. Sony Group Corporation has not included the share of profit or loss of investments accounted for using the equity method in SFGI after the Spin-off in the above results forecast, and does not disclose forecasts for the discontinued operation or for the consolidated results for the fiscal year ending March 31, 2026. Please refer to “Notes to Consolidated Financial Statements - Subsequent Events” for the details of the accounting treatments in connection with the Spin-off.

2      The estimated impact from the series of changes in U.S. tariff policy at this time is reflected in the above forecasts for operating income, income before income taxes and net income attributable to Sony Group Corporation’s stockholders. The estimated impact is calculated based on the assumptions that the reciprocal tariff rates announced on April 2, 2025 will be applied after the end of the temporary suspension announced on April 9, and that other tariffs will remain unchanged from the end of April. The impact of the partial removal and temporary suspension of the additional and reciprocal tariffs on China by the U.S. announced on May 12 is not included in the assumptions used for estimating the relevant impact. The actual impact could vary significantly from this estimation if future tariff policy or other factors are changed.

Notes

(1)	Significant changes in scope of consolidation during the fiscal year :		No
(2)	Changes in accounting policies and changes in accounting estimates:
	(i)	Changes in accounting policies required by IFRS Accounting Standards :	Yes
	(ii)	Changes in accounting policies due to other reasons :	No
	(iii)	Changes in accounting estimates :	No
(3)	Number of issued shares (common stock):
---	---	---
	(i)	Total number of issued shares at the end of the<br>fiscal year (including treasury stock)
As of March 31, 2025	6,149,810,645	shares
---	---	---
As of March 31, 2024	6,306,159,445	shares
(ii)	Number of shares of treasury stock at the end<br>of the fiscal year
---	---
As of March 31, 2025	124,806,850	shares
---	---	---
As of March 31, 2024	198,915,015	shares
(iii)	Average number of shares outstanding during the<br>fiscal year
---	---
Fiscal Year ended March 31, 2025	6,049,652,046	shares
---	---	---
Fiscal Year ended March 31, 2024	6,156,210,073	shares
Notes:
---
1	Please refer<br>to “Notes to Consolidated Financial Statements - Accounting Policy and Other Information (Net Income Attributable to Sony Group<br>Corporation’s Stockholders per Share (“EPS”) and Weighted-average Number of Outstanding Shares Used for the Computation<br>of EPS of Common Stock)” for number of shares used as basis for calculating consolidated per share data.
---	---
2	Sony Group<br>Corporation conducted a five-for-one stock split of its common stock effective October 1, 2024, with a record date of September 30,<br>2024. The above figures for the number of issued shares (common stock) are calculated based on the assumption that the stock split was<br>conducted at the beginning of the fiscal year ended March 31, 2024.
---	---

[Reference] Overview of non-consolidated financial results^*5^

1. Non-consolidated financial results for the fiscal year endedMarch 31, 2025 (from April 1, 2024 to March 31, 2025)

(1) Non-consolidated operating results	(Percentages indicate year-on-year changes.)
	Net sales		Operating profit		Ordinary profit		Profit
---	---	---	---	---	---	---	---	---
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2025	480,922	1.6	320,175	8.7	322,865	6.3	361,678	14.3
March 31, 2024	473,255	-3.6	294,675	-0.8	303,611	-2.9	316,396	-0.2
	Basic earnings per share	Diluted earnings per share
---	---	---
Fiscal year ended	Yen	Yen
March 31, 2025	59.78	59.53
March 31, 2024	51.39	51.22
Note:	Sony Group Corporation conducted a five-for-one stock split<br>of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above figures for basic earnings<br>per share and diluted earnings per share are calculated based on the assumption that the stock split was conducted at the beginning of<br>the fiscal year ended March 31, 2024.
---	---

(2) Non-consolidated financial position

	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
March 31, 2025	5,281,630	3,295,554	61.7	540.61
March 31, 2024	4,965,082	3,289,233	65.5	532.34

Reference: Equity

As of March 31, 2025: ¥3,257,169 million

As of March 31, 2024: ¥3,251,114 million

Note:	Sony Group Corporation conducted a five-for-one stock split<br>of its common stock effective October 1, 2024, with a record date of September 30, 2024. The above figures for net assets per<br>share are calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended March 31,<br>2024.

*5 The Sony Group Corporation’s non-consolidated financial results are prepared in accordance with Japanese generally accepted accounting principles.

*	The Consolidated Financial Summary is exempt from audit conducted<br>by certified public accountants or an audit firm.
*	Proper use of earnings forecasts, and other special matters:
---	---
	Please refer<br>to “Cautionary Statement” on page 25 of the Appendix for assumptions and other matters related to the forecast of financial<br>results.
	Supplementary<br>materials on financial results including the presentation material for the earnings announcement are available on Sony Group Corporation’s<br>website along with this document.

(Appendix)

Table of Contents for Appendix

Consolidated Financial Statements (Unaudited)	2
Consolidated Statements of Financial Position	2
Consolidated Statements of Income (Fiscal Year ended March 31)	4
Consolidated Statements of Comprehensive Income (Fiscal Year ended March 31)	5
Consolidated Statements of Income (Three months ended March 31)	6
Consolidated Statements of Comprehensive Income (Three months ended March 31)	7
Consolidated Statements of Changes in Stockholders’ Equity (Fiscal Year ended March 31)	8
Consolidated Statements of Cash Flows (Fiscal Year ended March 31)	9
Notes to Consolidated Financial Statements	11
- Business Segment Information	11
- Going Concern Assumption	21
- Accounting Policy and Other Information	21
- Subsequent Events	24
Overview of Operating Results	25
Basic Views on Selection of Accounting Standards	25
Cautionary Statement	25

All financial information is presented on the basis of IFRS Accounting Standards.

Sony Group Corporation and its consolidated subsidiaries are together referred to as “Sony” or “Sony Group.”

- 1 -

(Unaudited)

Consolidated Financial Statements

Consolidated Statements of Financial Position

	Yen in millions
	March 31, 2024		March 31, 2025		ChangefromMarch 31, 2024
ASSETS
Current assets:
Cash and cash equivalents		1,907,113		2,980,956		1,073,843
Investments and advances in the Financial Services segment		398,153		453,677		55,524
Trade and other receivables, and contract assets		2,158,196		1,943,184		(215,012	)
Inventories		1,518,644		1,310,770		(207,874	)
Other financial assets		125,365		145,192		19,827
Other current assets		669,335		621,209		(48,126	)
Total current assets		6,776,806		7,454,988		678,182
Non-current assets:
Investments accounted for using the equity method		423,744		347,718		(76,026	)
Investments and advances in the Financial Services segment		18,939,794		18,736,298		(203,496	)
Property, plant and equipment		1,522,640		1,513,660		(8,980	)
Right-of-use assets		503,395		521,685		18,290
Goodwill		1,487,100		1,508,721		21,621
Content assets		1,928,113		2,249,048		320,935
Other intangible assets		615,602		671,212		55,610
Deferred tax assets		499,550		559,284		59,734
Other financial assets		897,341		1,164,630		267,289
Other non-current assets		513,405		565,929		52,524
Total non-current assets		27,330,684		27,838,185		507,501
Total assets		34,107,490		35,293,173		1,185,683

(Continued on the following page.)

- 2 -

Consolidated Statements of Financial Position (Continued)

	Yen in millions
	March 31, 2024			March 31, 2025			Change from<br> <br>March 31, 2024
LIABILITIES
Current liabilities:
Short-term borrowings		1,812,605			1,843,959			31,354
Current portion of long-term debt		217,711			287,445			69,734
Trade and other payables		2,064,905			2,100,144			35,239
Deposits from customers in the banking business		3,670,567			3,981,193			310,626
Income taxes payables		152,074			89,485			(62,589	)
Participation and residual liabilities in the Pictures segment		251,743			236,752			(14,991	)
Other financial liabilities		116,044			110,689			(5,355	)
Other current liabilities		1,906,396			2,039,121			132,725
Total current liabilities		10,192,045			10,688,788			496,743
Non-current liabilities:
Long-term debt		2,058,117			2,066,842			8,725
Defined benefit liabilities		247,583			236,941			(10,642	)
Deferred tax liabilities		166,424			175,228			8,804
Insurance contract liabilities		12,931,995			12,689,306			(242,689	)
Participation and residual liabilities in the Pictures segment		206,081			188,919			(17,162	)
Other financial liabilities		386,761			574,351			187,590
Other non-current liabilities		162,379			162,647			268
Total non-current liabilities		16,159,340			16,094,234			(65,106	)
Total liabilities		26,351,385			26,783,022			431,637
EQUITY
Sony Group Corporation’s stockholders’ equity:
Common stock		881,357			881,357			-
Additional paid-in capital		1,483,410			1,483,527			117
Retained earnings		6,002,407			6,678,168			675,761
Accumulated other comprehensive income		(376,063	)		(566,447	)		(190,384	)
Treasury stock, at cost		(403,934	)		(296,860	)		107,074
Equity attributable to Sony Group Corporation’s stockholders		7,587,177			8,179,745			592,568
Noncontrolling interests		168,928			330,406			161,478
Total equity		7,756,105			8,510,151			754,046
Total liabilities and equity		34,107,490			35,293,173			1,185,683

- 3 -

Consolidated Statements of Income

	Yen in millions
	Fiscal year ended March 31
	2024			2025			Change
Sales and financial services revenue:
Sales		11,260,037			12,034,917			774,880
Financial services revenue
Insurance revenue		586,115			622,959			36,844
Other financial services revenue		1,174,616			299,188			(875,428	)
Total financial services revenue		1,760,731			922,147			(838,584	)
Total sales and financial services revenue		13,020,768			12,957,064			(63,704	)
Costs and expenses:
Cost of sales		8,089,317			8,504,810			415,493
Selling, general and administrative		2,156,156			2,256,829			100,673
Financial services expenses
Insurance service expenses		407,206			452,932			45,726
Insurance finance expenses (income)		1,029,700			153,561			(876,139	)
Other financial services expenses		169,464			183,209			13,745
Total financial services expenses		1,606,370			789,702			(816,668	)
Other operating (income) expense, net		(29,404	)		(9,241	)		20,163
Total costs and expenses		11,822,439			11,542,100			(280,339	)
Share of profit (loss) of investments accounted for using the equity method		10,502			(7,801	)		(18,303	)
Operating income		1,208,831			1,407,163			198,332
Financial income		125,597			139,024			13,427
Financial expenses		65,766			72,461			6,695
Income before income taxes		1,268,662			1,473,726			205,064
Income taxes		288,168			313,839			25,671
Net income		980,494			1,159,887			179,393
Net income attributable to
Sony Group Corporation’s stockholders		970,573			1,141,600			171,027
Noncontrolling interests		9,921			18,287			8,366
	Yen
---	---	---	---	---	---	---
	Fiscal year ended March 31
	2024		2025		Change
Per share data:
Net income attributable to Sony Group Corporation’s stockholders
- Basic		157.66		188.71		31.05
- Diluted		157.14		187.92		30.78

- 4 -

Consolidated Statements of Comprehensive Income

	Yen in millions
	Fiscal year ended March 31
	2024			2025			Change
Net income		980,494			1,159,887			179,393
Other comprehensive income, net of tax -
Items that will not be reclassified to profit or loss
Changes in equity instruments measured at fair value through other comprehensive income		(53,814	)		(12,531	)		41,283
Remeasurement of defined benefit pension plans		25,875			10,583			(15,292	)
Share of other comprehensive income of investments accounted for using the equity method		613			(911	)		(1,524	)
Items that may be reclassified subsequently to profit or loss
Changes in debt instruments measured at fair value through other comprehensive income		(704,636	)		(681,515	)		23,121
Cash flow hedges		1,352			(4,295	)		(5,647	)
Insurance finance income (expenses)		563,396			568,291			4,895
Exchange differences on translating foreign operations		442,406			(79,266	)		(521,672	)
Share of other comprehensive income of investments accounted for using the equity method		4,735			(337	)		(5,072	)
Other		(283	)		(676	)		(393	)
Total other comprehensive income, net of tax		279,644			(200,657	)		(480,301	)
Comprehensive income		1,260,138			959,230			(300,908	)
Comprehensive income attributable to
Sony Group Corporation’s stockholders		1,247,301			941,030			(306,271	)
Noncontrolling interests		12,837			18,200			5,363

- 5 -

Consolidated Statements of Income

	Yen in millions
	Three months ended March 31
	2024			2025			Change
Sales and financial services revenue:
Sales		2,810,390			2,804,938			(5,452	)
Financial services revenue
Insurance revenue		152,887			155,151			2,264
Other financial services revenue		517,689			(329,845	)		(847,534	)
Total financial services revenue		670,576			(174,694	)		(845,270	)
Total sales and financial services revenue		3,480,966			2,630,244			(850,722	)
Costs and expenses:
Cost of sales		1,992,922			1,980,206			(12,716	)
Selling, general and administrative		607,776			599,224			(8,552	)
Financial services expenses
Insurance service expenses		115,245			119,917			4,672
Insurance finance expenses (income)		501,625			(337,086	)		(838,711	)
Other financial services expenses		47,145			52,268			5,123
Total financial services expenses		664,015			(164,901	)		(828,916	)
Other operating (income) expense, net		(13,591	)		9,337			22,928
Total costs and expenses		3,251,122			2,423,866			(827,256	)
Share of profit (loss) of investments accounted for using the equity method		(402	)		(2,729	)		(2,327	)
Operating income		229,442			203,649			(25,793	)
Financial income		66,420			37,033			(29,387	)
Financial expenses		19,384			28,123			8,739
Income before income taxes		276,478			212,559			(63,919	)
Income taxes		82,453			3,897			(78,556	)
Net income		194,025			208,662			14,637
Net income attributable to
Sony Group Corporation’s stockholders		189,005			197,727			8,722
Noncontrolling interests		5,020			10,935			5,915
	Yen
---	---	---	---	---	---	---
	Three months ended March 31
	2024		2025		Change
Per share data:
Net income attributable to Sony Group Corporation’s stockholders
- Basic		30.82		32.81		1.99
- Diluted		30.72		32.63		1.91

- 6 -

Consolidated Statements of Comprehensive Income

	Yen in millions
	Three months ended March 31
	2024			2025			Change
Net income		194,025			208,662			14,637
Other comprehensive income, net of tax -
Items that will not be reclassified to profit or loss
Changes in equity instruments measured at fair value through other comprehensive income		(20,538	)		4,436			24,974
Remeasurement of defined benefit pension plans		26,905			11,463			(15,442	)
Share of other comprehensive income of investments accounted for using the equity method		423			90			(333	)
Items that may be reclassified subsequently to profit or loss
Changes in debt instruments measured at fair value through other comprehensive income		(181,677	)		(143,533	)		38,144
Cash flow hedges		(2,171	)		(4,478	)		(2,307	)
Insurance finance income (expenses)		151,510			110,288			(41,222	)
Exchange differences on translating foreign operations		234,729			(170,834	)		(405,563	)
Share of other comprehensive income of investments accounted for using the equity method		2,465			(2,641	)		(5,106	)
Other		(77	)		(238	)		(161	)
Total other comprehensive income, net of tax		211,569			(195,447	)		(407,016	)
Comprehensive income		405,594			13,215			(392,379	)
Comprehensive income attributable to
Sony Group Corporation’s stockholders		399,932			3,961			(395,971	)
Noncontrolling interests		5,662			9,254			3,592

- 7 -

Consolidated Statements of Changes in Stockholders’ Equity

	Yen in millions
	Common <br> stock		Additional<br> paid-in <br> capital			Retained <br> earnings			Accumulated<br> other <br> comprehensive<br> income			Treasury <br> stock, at <br> cost			Sony Group<br> Corporation’s <br><br>stockholders’ <br> equity			Noncontrolling <br> interests			Total equity
Balance at April 1, 2023		880,365		1,463,807			5,092,442			(614,570	)		(223,507	)		6,598,537			58,613			6,657,150
Comprehensive income :
Net income							970,573									970,573			9,921			980,494
Other comprehensive income, net of tax										276,728						276,728			2,916			279,644
Total comprehensive income							970,573			276,728						1,247,301			12,837			1,260,138
Transfer to retained earnings							38,221			(38,221	)					-						-
Transactions with stockholders and other:
Stock issued under stock-based compensation transactions		992		(1,939	)		(144	)					19,257			18,166						18,166
Compensation expenses related to stock-based compensation transactions				13,956												13,956						13,956
Dividends declared							(98,685	)								(98,685	)		(5,786	)		(104,471	)
Purchase of treasury stock													(202,974	)		(202,974	)					(202,974	)
Reissuance of treasury stock				1,786									3,290			5,076						5,076
Transactions with noncontrolling interests shareholders and other				5,800												5,800			103,264			109,064
Balance at March 31, 2024		881,357		1,483,410			6,002,407			(376,063	)		(403,934	)		7,587,177			168,928			7,756,105
		Yen<br> in millions
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Common<br> <br> stock				Additional<br><br> paid-in <br> capital				Retained<br> <br> earnings				Accumulated<br><br> other <br> comprehensive <br> income				Treasury<br> <br> stock, at <br> cost				Sony<br> Group<br> Corporation’s<br> stockholders’ <br> equity				Noncontrolling<br> <br> interests				Total<br> equity
Balance at April 1, 2024			881,357				1,483,410				6,002,407				(376,063	)			(403,934	)			7,587,177				168,928				7,756,105
Comprehensive income:
Net income											1,141,600												1,141,600				18,287				1,159,887
Other comprehensive income, net of<br> tax															(200,570	)							(200,570	)			(87	)			(200,657	)
Total comprehensive income											1,141,600				(200,570	)							941,030				18,200				959,230
Transfer to retained earnings											(10,186	)			10,186								-								-
Transactions with stockholders and other:
Stock issued under stock-based compensation transactions							3,008				(1,179	)							49,608				51,437								51,437
Compensation expenses related to stock-based compensation<br> transactions							8,575																8,575								8,575
Dividends declared											(115,312	)											(115,312	)			(7,704	)			(123,016	)
Purchase of treasury stock																			(285,548	)			(285,548	)							(285,548	)
Reissuance of treasury stock							1												4				5								5
Cancellation of treasury stock							(3,848	)			(339,162	)							343,010				-								-
Transactions with noncontrolling<br> interests shareholders and other							(7,619	)															(7,619	)			150,982				143,363
Balance at March 31, 2025			881,357				1,483,527				6,678,168				(566,447	)			(296,860	)			8,179,745				330,406				8,510,151

- 8 -

Consolidated Statements of Cash Flows

	Yen in millions
	Fiscal year ended March 31
	2024			2025
Cash flows from operating activities:
Income before income taxes		1,268,662			1,473,726
Adjustments to reconcile income before income taxes to net cash provided by operating activities:
Depreciation and amortization, including amortization of contract costs		1,144,981			1,152,987
Other operating (income) expense, net		(29,404	)		(9,241	)
Gain on securities, net (other than Financial Services segment)		(73,166	)		(75,742	)
Share of (profit) loss of investments accounted for using the equity method, net of dividends		(715	)		20,741
Changes in assets and liabilities:
(Increase) decrease in trade receivables and contract assets		(243,646	)		228,623
Decrease in inventories		75,641			199,916
Increase in investments and advances in the Financial Services segment		(1,748,913	)		(824,443	)
Increase in content assets		(486,183	)		(683,388	)
Increase in trade payables		9,188			136,952
Increase in insurance contract liabilities, net of insurance contract assets		1,370,580			573,749
Increase in deposits from customers in the banking business		536,688			401,014
Increase (decrease) in borrowings in the life insurance business and the banking business		(41,516	)		66,783
Decrease in taxes payable other than income taxes, net		(22,491	)		(15,461	)
Increase in other financial assets and other current assets		(31,821	)		(81,081	)
Increase in other financial liabilities and other current liabilities		19,562			32,768
Income taxes paid		(293,997	)		(300,529	)
Other		(80,237	)		24,301
Net cash provided by operating activities		1,373,213			2,321,675

(Continued on the following page.)

- 9 -

Consolidated Statements of Cash Flows (Continued)

	Yen in millions
	Fiscal year ended March 31
	2024			2025
Cash flows from investing activities:
Payments for property, plant and equipment and other intangible assets		(623,946	)		(647,527	)
Proceeds from sales of property, plant and equipment and other intangible assets		11,571			15,486
Payments for investments and advances (other than Financial Services segment)		(95,506	)		(98,536	)
Proceeds from sales or return of investments and collections of advances (other than Financial Services segment)		92,679			46,540
Payments for purchases of businesses and other		(199,255	)		(294,417	)
Other		(4,429	)		48,334
Net cash used in investing activities		(818,886	)		(930,120	)
Cash flows from financing activities:
Decrease in short-term borrowings, net		(18,370	)		(28,585	)
Proceeds from issuance of long-term debt		225,176			139,298
Payments of long-term debt		(128,150	)		(181,085	)
Dividends paid		(98,620	)		(115,253	)
Payments for purchases of treasury stock		(202,974	)		(285,548	)
Capital contribution from non-controlling interests		-			150,804
Other		12,229			22,126
Net cash used in financing activities		(210,709	)		(298,243	)
Effect of exchange rate changes on cash and cash equivalents		82,595			(19,469	)
Net increase in cash and cash equivalents		426,213			1,073,843
Cash and cash equivalents at beginning of the fiscal year		1,480,900			1,907,113
Cash and cash equivalents at end of the fiscal year		1,907,113			2,980,956

- 10 -

Notes to Consolidated Financial Statements

Business Segment Information

(Business Segments)

Segment sales and financial services revenue

	Yen in millions
	Fiscal year ended March 31
	2024			2025			Change
Sales and financial services revenue:
Game & Network Services -
Customers		4,172,994			4,543,571			370,577
Intersegment		94,740			126,473			31,733
Total		4,267,734			4,670,044			402,310
Music -
Customers		1,594,955			1,820,263			225,308
Intersegment		24,003			22,341			(1,662	)
Total		1,618,958			1,842,604			223,646
Pictures -
Customers		1,486,717			1,498,534			11,817
Intersegment		6,333			7,410			1,077
Total		1,493,050			1,505,944			12,894
Entertainment, Technology & Services -
Customers		2,414,946			2,362,838			(52,108	)
Intersegment		38,772			46,437			7,665
Total		2,453,718			2,409,275			(44,443	)
Imaging & Sensing Solutions -
Customers		1,503,906			1,712,534			208,628
Intersegment		98,832			86,471			(12,361	)
Total		1,602,738			1,799,005			196,267
Financial Services -
Customers		1,760,731			922,147			(838,584	)
Intersegment		9,223			9,253			30
Total		1,769,954			931,400			(838,554	)
All Other -
Customers		75,784			82,477			6,693
Intersegment		13,586			13,856			270
Total		89,370			96,333			6,963
Corporate and elimination		(274,754	)		(297,541	)		(22,787	)
Consolidated total		13,020,768			12,957,064			(63,704	)

Note:

Game & Network Services (“G&NS”) intersegment amounts primarily consist of transactions with the Entertainment, Technology & Services (“ET&S”) segment. ET&S intersegment amounts primarily consist of transactions with the G&NS segment. Imaging & Sensing Solutions (“I&SS”) intersegment amounts primarily consist of transactions with the G&NS segment and the ET&S segment. Corporate and elimination includes certain brand and patent royalty income.

- 11 -

Segment profit (loss)

	Yen in millions
	Fiscal year ended March 31
	2024			2025			Change
Operating income (loss):
Game & Network Services		290,184			414,819			124,635
Music		301,662			357,255			55,593
Pictures		117,702			117,284			(418	)
Entertainment, Technology & Services		187,399			190,926			3,527
Imaging & Sensing Solutions		193,541			261,147			67,606
Financial Services		173,576			130,528			(43,048	)
All Other		1,600			(17,996	)		(19,596	)
Total		1,265,664			1,453,963			188,299
Corporate and elimination		(56,833	)		(46,800	)		10,033
Consolidated operating income		1,208,831			1,407,163			198,332

Operating income (loss) is sales and financial services revenue less costs and expenses, and includes the share of profit (loss) of investments accounted for using the equity method.

- 12 -

Segment sales and financial services revenue

	Yen in millions
	Three months ended March 31
	2024			2025			Change
Sales and financial services revenue:
Game & Network Services -
Customers		1,058,968			1,045,209			(13,759	)
Intersegment		38,363			6,064			(32,299	)
Total		1,097,331			1,051,273			(46,058	)
Music -
Customers		422,188			463,569			41,381
Intersegment		7,721			7,122			(599	)
Total		429,909			470,691			40,782
Pictures -
Customers		404,059			411,402			7,343
Intersegment		2,662			3,176			514
Total		406,721			414,578			7,857
Entertainment, Technology & Services -
Customers		522,877			469,577			(53,300	)
Intersegment		9,780			14,505			4,725
Total		532,657			484,082			(48,575	)
Imaging & Sensing Solutions -
Customers		381,260			388,242			6,982
Intersegment		17,264			20,798			3,534
Total		398,524			409,040			10,516
Financial Services -
Customers		670,576			(174,694	)		(845,270	)
Intersegment		2,309			2,324			15
Total		672,885			(172,370	)		(845,255	)
All Other -
Customers		18,772			22,188			3,416
Intersegment		2,985			3,391			406
Total		21,757			25,579			3,822
Corporate and elimination		(78,818	)		(52,629	)		26,189
Consolidated total		3,480,966			2,630,244			(850,722	)

Note:

G&NS intersegment amounts primarily consist of transactions with the ET&S segment. ET&S intersegment amounts primarily consist of transactions with the G&NS segment. I&SS intersegment amounts primarily consist of transactions with the G&NS segment and the ET&S segment. Corporate and elimination includes certain brand and patent royalty income.

- 13 -

Segment profit (loss)

	Yen in millions
	Three months ended March 31
	2024			2025			Change
Operating income (loss):
Game & Network Services		105,983			92,698			(13,285	)
Music		71,199			83,578			12,379
Pictures		30,667			53,476			22,809
Entertainment, Technology & Services		(6,444	)		(20,417	)		(13,973	)
Imaging & Sensing Solutions		34,734			34,543			(191	)
Financial Services		26,107			(11,555	)		(37,662	)
All Other		(5,540	)		(9,759	)		(4,219	)
Total		256,706			222,564			(34,142	)
Corporate and elimination		(27,264	)		(18,915	)		8,349
Consolidated operating income		229,442			203,649			(25,793	)

Operating income (loss) is sales and financial services revenue less costs and expenses, and includes the share of profit (loss) of investments accounted for using the equity method.

- 14 -

(Sales to Customers by Product Category)

The following table is a breakdown of sales and financial services revenue to external customers by product category for each segment. Sony management views each segment as a single operating segment.

	Yen in millions
	Fiscal year ended March 31
	2024		2025		Change
Sales and financial services revenue:
Game & Network Services
Digital Software and Add-on Content		1,934,586		2,290,498		355,912
Network Services		545,537		669,873		124,336
Hardware and Others		1,692,871		1,583,200		(109,671	)
Total		4,172,994		4,543,571		370,577
Music
Recorded Music - Streaming		709,453		788,772		79,319
Recorded Music - Others		356,646		407,260		50,614
Music Publishing		326,727		379,812		53,085
Visual Media and Platform		202,129		244,419		42,290
Total		1,594,955		1,820,263		225,308
Pictures
Motion Pictures		542,044		610,313		68,269
Television Productions		551,035		459,281		(91,754	)
Media Networks		393,638		428,940		35,302
Total		1,486,717		1,498,534		11,817
Entertainment, Technology & Services
Televisions		624,264		564,154		(60,110	)
Audio and Video		412,067		391,664		(20,403	)
Still and Video Cameras		643,429		665,144		21,715
Mobile Communications		299,905		279,834		(20,071	)
Other		435,281		462,042		26,761
Total		2,414,946		2,362,838		(52,108	)
Imaging & Sensing Solutions		1,503,906		1,712,534		208,628
Financial Services		1,760,731		922,147		(838,584	)
All Other		75,784		82,477		6,693
Corporate		10,735		14,700		3,965
Consolidated total		13,020,768		12,957,064		(63,704	)

- 15 -

	Yen in millions
	Three months ended March 31
	2024		2025			Change
Sales and financial services revenue:
Game & Network Services
Digital Software and Add-on Content		514,163		580,501			66,338
Network Services		149,969		172,833			22,864
Hardware and Others		394,836		291,875			(102,961	)
Total		1,058,968		1,045,209			(13,759	)
Music
Recorded Music - Streaming		184,188		193,040			8,852
Recorded Music - Others		103,859		98,138			(5,721	)
Music Publishing		82,779		96,280			13,501
Visual Media and Platform		51,362		76,111			24,749
Total		422,188		463,569			41,381
Pictures
Motion Pictures		156,890		157,983			1,093
Television Productions		142,575		143,183			608
Media Networks		104,594		110,236			5,642
Total		404,059		411,402			7,343
Entertainment, Technology & Services
Televisions		116,313		90,440			(25,873	)
Audio and Video		79,995		67,819			(12,176	)
Still and Video Cameras		133,743		128,241			(5,502	)
Mobile Communications		63,261		59,430			(3,831	)
Other		129,565		123,647			(5,918	)
Total		522,877		469,577			(53,300	)
Imaging & Sensing Solutions		381,260		388,242			6,982
Financial Services		670,576		(174,694	)		(845,270	)
All Other		18,772		22,188			3,416
Corporate		2,266		4,751			2,485
Consolidated total		3,480,966		2,630,244			(850,722	)

In the G&NS segment, Digital Software and Add-on Content includes distribution of software titles and add-on content through the network; Network Services includes network services relating to game, video and music content; Hardware and Others includes home gaming consoles, packaged software, game software sold bundled with home gaming consoles, peripheral devices and first-party software for third-party platforms. In the Music segment, Recorded Music

Streaming includes the distribution of digital recorded music by streaming; Recorded Music - Others includes the distribution of recorded music by physical media and digital download as well as revenue derived from artists’ live performances and merchandising; Music Publishing includes the management and licensing of the words and music of songs; Visual Media and Platform includes the production and distribution of animation titles and game applications, and various service offerings for music and visual products. In the Pictures segment, Motion Pictures includes the worldwide production, acquisition and distribution of live-action and animated motion pictures; Television Productions includes the production, acquisition and distribution of television programming; Media Networks includes the operation of television networks and direct-to-consumer streaming services worldwide. In the ET&S segment, Televisions includes LCD and OLED televisions; Audio and Video includes Blu-ray disc players and recorders, home audio, headphones and memory-based portable audio devices; Still and Video Cameras includes interchangeable lens cameras, compact digital cameras, consumer video cameras and video cameras for broadcast; Mobile Communications includes smartphones and an internet-related service business; Other includes display products such as projectors and medical equipment.
- 16 -

(Condensed Financial Services Separate Financial Statements)

The following schedules show unaudited condensed financial statements for the Financial Services segment and all other segments excluding Financial Services. These presentations are not in accordance with IFRS Accounting Standards, which is used by Sony to prepare its consolidated financial statements. However, because the Financial Services segment is different in nature from Sony’s other segments, Sony believes that a comparative presentation may be useful in understanding and analyzing Sony’s consolidated financial statements. Both financial statements include transactions between the Financial Services segment and Sony without the Financial Services segment. The figures shown in the respective presentations for the Financial Services segment and Sony without the Financial Services segment are prior to the elimination and/or offset of such transactions and deferred tax assets and deferred tax liabilities of each. The consolidated column is presented net of the elimination and/or offset of such intercompany balances and deferred tax assets and liabilities.

Condensed Statements of Financial Position

	Yen<br> in millions
	Financial<br> Services				Sony without<br> <br>Financial Services				Consolidated
	March 31,<br> 2024		March 31,<br> 2025		March 31,<br> 2024		March 31,<br> 2025		March 31,<br> 2024		March 31,<br> 2025
ASSETS
Current assets:
Cash and cash equivalents	¥	913,815	¥	1,216,277	¥	993,298	¥	1,764,679	¥	1,907,113	¥	2,980,956
Investments and advances in the Financial<br> Services segment		398,153		453,677		-		-		398,153		453,677
Trade and other receivables, and contract<br> assets		127,016		126,052		2,033,170		1,820,688		2,158,196		1,943,184
Inventories		-		-		1,518,644		1,310,770		1,518,644		1,310,770
Other financial assets		57,254		117,719		68,111		27,473		125,365		145,192
Other current<br> assets		50,487		25,882		625,539		604,486		669,335		621,209
Total current assets		1,546,725		1,939,607		5,238,762		5,528,096		6,776,806		7,454,988
Non-current assets:
Investments accounted for using the<br> equity method		4,905		3,171		418,839		344,547		423,744		347,718
Investments and advances in the Financial<br> Services segment		18,939,794		18,736,298		-		-		18,939,794		18,736,298
Investments in Financial Services,<br> at cost		-		-		550,483		550,483		-		-
Property, plant and equipment		14,162		13,335		1,508,151		1,499,998		1,522,640		1,513,660
Right-of-use assets		76,288		76,291		428,224		446,455		503,395		521,685
Goodwill and intangible assets, including<br> content assets		77,323		86,601		3,953,492		4,342,380		4,030,815		4,428,981
Deferred tax assets		-		3,149		520,613		546,501		499,550		559,284
Other financial assets		52,882		60,496		848,599		1,108,426		897,341		1,164,630
Other non-current<br> assets		165,049		153,880		421,258		484,529		513,405		565,929
Total<br> non-current assets		19,330,403		19,133,221		8,649,659		9,323,319		27,330,684		27,838,185
Total assets	¥	20,877,128	¥	21,072,828	¥	13,888,421	¥	14,851,415	¥	34,107,490	¥	35,293,173

LIABILITIES<br>AND EQUITY
Current liabilities:
Short-term borrowings	¥	1,802,337	¥	1,872,486	¥	227,979	¥	258,918	¥	2,030,316	¥	2,131,404
Trade and other payables		61,153		93,010		2,005,112		2,010,444		2,064,905		2,100,144
Deposits from customers in the banking<br> business		3,670,567		3,981,193		-		-		3,670,567		3,981,193
Income taxes payables		10,050		5,902		142,024		83,583		152,074		89,485
Participation and residual liabilities<br> in the Pictures segment		-		-		251,743		236,752		251,743		236,752
Other financial liabilities		77,523		74,680		38,522		36,009		116,044		110,689
Other current<br> liabilities		209,555		225,531		1,704,158		1,822,993		1,906,396		2,039,121
Total current liabilities		5,831,185		6,252,802		4,369,538		4,448,699		10,192,045		10,688,788
Non-current liabilities:
Long-term debt		703,106		690,249		1,355,011		1,376,593		2,058,117		2,066,842
Defined benefit liabilities		39,284		38,806		208,299		198,135		247,583		236,941
Deferred tax liabilities		36,368		8,202		165,877		172,139		166,424		175,228
Insurance contract liabilities		12,931,995		12,689,306		-		-		12,931,995		12,689,306
Participation and residual liabilities<br> in the Pictures segment		-		-		206,081		188,919		206,081		188,919
Other financial liabilities		214,414		313,800		175,263		263,675		386,761		574,351
Other non-current<br> liabilities		7,607		6,751		176,767		177,380		162,379		162,647
Total<br> non-current liabilities		13,932,774		13,747,114		2,287,298		2,376,841		16,159,340		16,094,234
Total liabilities		19,763,959		19,999,916		6,656,836		6,825,540		26,351,385		26,783,022
Equity:
Stockholders’ equity of Financial<br> Services		1,113,169		1,072,912		-		-		-		-
Stockholders’ equity of Sony<br> without Financial Services		-		-		7,062,657		7,695,469		-		-
Sony Group Corporation’s stockholders’<br> equity		-		-		-		-		7,587,177		8,179,745
Noncontrolling<br> interests		-		-		168,928		330,406		168,928		330,406
Total equity		1,113,169		1,072,912		7,231,585		8,025,875		7,756,105		8,510,151
Total liabilities and equity	¥	20,877,128	¥	21,072,828	¥	13,888,421	¥	14,851,415	¥	34,107,490	¥	35,293,173

- 17 -

Condensed Statements of Income

	Yen in millions
	Fiscal year ended March 31
	Financial Services					Sony without<br> <br>Financial Services						Consolidated
	2024			2025		2024			2025			2024			2025
Sales	¥	-		¥	-	¥	11,265,043		¥	12,043,903		¥	11,260,037		¥	12,034,917
Financial services revenue		1,769,954			931,400		-			-			1,760,731			922,147
Total sales and financial services revenue		1,769,954			931,400		11,265,043			12,043,903			13,020,768			12,957,064
Cost of sales		-			-		8,101,991			8,514,325			8,089,317			8,504,810
Selling, general and administrative		-			-		2,148,472			2,256,294			2,156,156			2,256,829
Financial services expenses		1,615,594			798,954		-			-			1,606,370			789,702
Other operating (income) expense, net		(19,271	)		1,982		(10,133	)		(11,224	)		(29,404	)		(9,241	)
Total costs and expenses		1,596,323			800,936		10,240,330			10,759,395			11,822,439			11,542,100
Share of profit (loss) of investments accounted for using the equity method		(55	)		64		10,558			(7,865	)		10,502			(7,801	)
Operating income		173,576			130,528		1,035,271			1,276,643			1,208,831			1,407,163
Financial income (expenses), net		-			-		109,864			66,530			59,831			66,563
Income before income taxes		173,576			130,528		1,145,135			1,343,173			1,268,662			1,473,726
Income taxes		49,063			56,359		239,105			257,467			288,168			313,839
Net income		124,513			74,169		906,030			1,085,706			980,494			1,159,887
Net income of Financial Services	¥	123,986		¥	74,169	¥	-		¥	-		¥	-		¥	-
Net income of Sony without Financial Services	¥	-		¥	-	¥	896,636		¥	1,067,419		¥	-		¥	-
Net income attributable to Sony Group Corporation’s stockholders	¥	-		¥	-	¥	-		¥	-		¥	970,573		¥	1,141,600
Net income attributable to noncontrolling interests	¥	527		¥	-	¥	9,394		¥	18,287		¥	9,921		¥	18,287

- 18 -

	Yen in millions
	Three months ended March 31
	Financial Services						Sony without<br> <br>Financial Services						Consolidated
	2024			2025			2024			2025			2024			2025
Sales	¥	-		¥	-		¥	2,810,987		¥	2,807,341		¥	2,810,390		¥	2,804,938
Financial services revenue		672,885			(172,370	)		-			-			670,576			(174,694	)
Total sales and financial services revenue		672,885			(172,370	)		2,810,987			2,807,341			3,480,966			2,630,244
Cost of sales		-			-			1,995,564			1,982,705			1,992,922			1,980,206
Selling, general and administrative		-			-			605,728			599,127			607,776			599,224
Financial services expenses		666,325			(162,578	)		-			-			664,015			(164,901	)
Other operating (income) expense, net		(19,602	)		1,744			6,011			7,593			(13,591	)		9,337
Total costs and expenses		646,723			(160,834	)		2,607,303			2,589,425			3,251,122			2,423,866
Share of profit (loss) of investments accounted for using the equity method		(55	)		(19	)		(346	)		(2,710	)		(402	)		(2,729	)
Operating income (loss)		26,107			(11,555	)		203,338			215,206			229,442			203,649
Financial income (expenses), net		-			-			47,036			8,901			47,036			8,910
Income (loss) before income taxes		26,107			(11,555	)		250,374			224,107			276,478			212,559
Income taxes		6,188			15,160			76,265			(11,270	)		82,453			3,897
Net income (loss)		19,919			(26,715	)		174,109			235,377			194,025			208,662
Net income (loss) of Financial Services	¥	19,843		¥	(26,715	)	¥	-		¥	-		¥	-		¥	-
Net income of Sony without Financial Services	¥	-		¥	-		¥	169,165		¥	224,442		¥	-		¥	-
Net income attributable to Sony Group Corporation’s stockholders	¥	-		¥	-		¥	-		¥	-		¥	189,005		¥	197,727
Net income attributable to noncontrolling interests	¥	76		¥	-		¥	4,944		¥	10,935		¥	5,020		¥	10,935

- 19 -

Condensed Statements of Cash Flows

	Yen<br> in millions
	Fiscal<br> year ended March 31
	Financial<br> Services						Sony without<br> <br>Financial Services						Consolidated
	2024			2025			2024			2025			2024			2025
Cash flows<br> from operating activities:
Income<br> (loss) before income taxes	¥	173,576		¥	130,528		¥	1,145,135		¥	1,343,173		¥	1,268,662		¥	1,473,726
Adjustments<br> to reconcile income (loss) before income taxes to net cash provided by (used in) operating activities:
Depreciation<br> and amortization, including amortization of contract costs		27,689			27,399			1,117,292			1,125,588			1,144,981			1,152,987
Other operating<br> (income) expense, net		(19,271	)		1,981			(10,133	)		(11,222	)		(29,404	)		(9,241	)
(Gain)<br> loss on securities, net (other than Financial Services segment)		-			-			(73,166	)		(75,742	)		(73,166	)		(75,742	)
Changes<br> in assets and liabilities:
(Increase)<br> decrease in trade receivables and contract assets		(20,843	)		959			(200,071	)		226,098			(243,646	)		228,623
(Increase)<br> decrease in inventories		-			-			75,641			199,916			75,641			199,916
(Increase)<br> decrease in investments and advances in the Financial Services segment		(1,748,913	)		(824,443	)		-			-			(1,748,913	)		(824,443	)
(Increase)<br> decrease in content assets		-			-			(486,183	)		(683,388	)		(486,183	)		(683,388	)
Increase (decrease)<br> in trade payables		27,116			31,309			(40,882	)		107,601			9,188			136,952
Increase<br> (decrease) in insurance contract liabilities, net of insurance contract assets		1,370,580			573,749			-			-			1,370,580			573,749
Increase<br> (decrease) in deposits from customers in the banking business		536,688			401,014			-			-			536,688			401,014
Increase<br> (decrease) in borrowings in the life insurance business and the banking business		(41,516	)		66,783			-			-			(41,516	)		66,783
Increase<br> (decrease) in taxes payable other than income taxes, net		387			(1,304	)		(22,878	)		(14,157	)		(22,491	)		(15,461	)
Other		(59,081	)		(57,649	)		(326,927	)		(245,428	)		(387,208	)		(303,800	)
Net<br> cash provided by (used in) operating activities		246,412			350,326			1,177,828			1,972,439			1,373,213			2,321,675

Cash flows<br> from investing activities:
Payments<br> for property, plant and equipment and other intangible assets		(18,167	)		(26,542	)		(606,844	)		(622,187	)		(623,946	)		(647,527	)
Payments<br> for investments and advances (other than Financial Services segment)		-			-			(95,506	)		(98,536	)		(95,506	)		(98,536	)
Proceeds<br> from sales or return of investments and collections of advances (other than Financial Services segment)		-			-			92,679			46,540			92,679			46,540
Other		(7,560	)		(382	)		(184,553	)		(230,215	)		(192,113	)		(230,597	)
Net<br> cash provided by (used in) investing activities		(25,727	)		(26,924	)		(794,224	)		(904,398	)		(818,886	)		(930,120	)

Cash flows<br> from financing activities:
Increase<br> (decrease) in borrowings, net		(11,633	)		(21,545	)		90,289			(48,827	)		78,656			(70,372	)
Dividends<br> paid		(50,037	)		-			(98,620	)		(115,253	)		(98,620	)		(115,253	)
Other		(1,693	)		605			(188,977	)		(113,111	)		(190,745	)		(112,618	)
Net<br> cash provided by (used in) financing activities		(63,363	)		(20,940	)		(197,308	)		(277,191	)		(210,709	)		(298,243	)

Effect<br> of exchange rate changes on cash and cash equivalents		-			-			82,595			(19,469	)		82,595			(19,469	)

Net increase<br> (decrease) in cash and cash equivalents		157,322			302,462			268,891			771,381			426,213			1,073,843
Cash<br> and cash equivalents at beginning of the fiscal year		756,493			913,815			724,407			993,298			1,480,900			1,907,113
Cash<br> and cash equivalents at end of the fiscal year	¥	913,815		¥	1,216,277		¥	993,298		¥	1,764,679		¥	1,907,113		¥	2,980,956

- 20 -

Going Concern Assumption

Not Applicable

Accounting Policy and Other Information

(Changes in accounting policies)

Sony newly adopted the following accounting standards from the fiscal year ended March 31, 2025:

Amendments to IAS 1 “Presentation of Financial Statements”

In January 2020, the International Accounting Standards Board (“IASB”) issued “Classification of Liabilities as Current or Non-current (Amendments to IAS 1).” The amendments clarify the right of a company to defer settlement of a liability, which is one of the existing requirements when classifying a liability to current or non-current. In addition, in October 2022, the IASB issued “A Non-current Liability with Covenants (Amendments to IAS 1).” The amendments require companies to disclose information about covenants in order for investors to understand the risk that such non-current debt with covenants could become repayable within twelve months. Both of these amendments were effective for Sony as of April 1, 2024. The adoption of these amendments has no material impact on Sony’s results of operations and financial position.

Amendments to IAS 7 “Statement of Cash Flows” and IFRS 7 “Financial Instruments: Disclosures”

In May 2023, the IASB issued “Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7).” These amendments require companies to disclose information about supplier finance arrangements and were effective for Sony as of April 1, 2024. Since the adoption of these amendments only affects disclosures, they have no impact on Sony’s results of operations and financial position.

- 21 -

(Net Income Attributable to Sony Group Corporation’sStockholders per Share (“EPS”) and Weighted-average Number of Outstanding Shares Used for the Computation of EPS of CommonStock)

	Yen in millions
	Fiscal year ended March 31
	2024		2025
Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation		970,573		1,141,600
	Thousands of shares
---	---	---	---	---
	Fiscal year ended March 31
	2024		2025
Weighted-average shares outstanding for basic EPS computation		6,156,210		6,049,652
Effect of dilutive securities:
Stock options		18,398		18,862
Restricted stock units		2,047		6,550
Weighted-average shares for diluted EPS computation		6,176,655		6,075,064
	Yen in millions
---	---	---	---	---
	Three months ended March 31
	2024		2025
Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation		189,005		197,727
	Thousands of shares
---	---	---	---	---
	Three months ended March 31
	2024		2025
Weighted-average shares outstanding for basic EPS computation		6,131,661		6,026,889
Effect of dilutive securities:
Stock options		17,939		24,664
Restricted stock units		2,818		7,488
Weighted-average shares for diluted EPS computation		6,152,418		6,059,041

Note:

As of October 1, 2024, Sony Group Corporation conducted a five-for-one stock split of its common stock. Basic and diluted EPS are calculated assuming that the stock split was implemented at the beginning of the fiscal year ended March 31,2024.

(Segmentation)

The G&NS segment includes the network services businesses, the manufacture and sales of home gaming products and the production and sales of digital software and add-on content. The Music segment includes the Recorded Music, Music Publishing and Visual Media and Platform businesses. The Pictures segment includes the Motion Pictures, Television Productions and Media Networks businesses. The ET&S segment includes the Televisions business, the Audio and Video business, the Still and Video Cameras business, the smartphone business and the internet-related service business. The I&SS segment includes the image sensors business. The Financial Services segment primarily represents individual life insurance and non-life insurance businesses and the banking business in Japan. All Other consists of various operating activities, including the disc manufacturing and recording media businesses. Sony’s products and services are generally unique to a single operating segment.

- 22 -

(Change in presentation)

Consolidated Statements of Change in Stockholders’ Equity

The presentation of “Exercise of stock acquisition rights and other” and “Stock-based compensation” has been changed to “Stock issued under stock-based compensation transactions” and “Compensation expenses related to stock-based compensation transactions,” respectively, from the fiscal year ended March 31, 2025.

(Supplemental cash flow information)

During the fiscal year ended March 31, 2025, Sony established a new joint venture in the Music segment with a third party partner, which acquired interests in companies that own certain music and other assets (the “target companies”) as well as music assets directly from other rights holders. Sony consolidated the joint venture through Sony’s majority interest and reflected the consideration of 133,064 million yen for the acquisition of the interests in the target companies in cash flows from investing activities as “Payments for purchases of businesses and other.” Sony primarily recognized 116,289 million yen of content assets (music catalogs) and 11,501 million yen of other intangible assets from the acquisition of the interests in the target companies. The acquisition of the interests in the target companies is accounted for as an acquisition of a group of assets that does not constitute a business. The consideration for the content assets (music catalogs) directly acquired from other rights holders was 84,382 million yen, which was recorded in cash flows from operating activities as “Increase in content assets.”

- 23 -

Subsequent Events

(Determination of plan regarding the execution of a partial spin-offof Sony Financial Group Inc.)

At a meeting of Sony Group Corporation’s Board of Directors (the “Board”) held on May 14, 2025, Sony Group Corporation decided to submit a resolution for the execution of a partial spin-off (the “Spin-off”) of Sony Financial Group Inc. (“SFGI”), a wholly-owned subsidiary engaged in the Financial Services business, as of October 1, 2025, to the Board in early September 2025. In the Spin-off, Sony Group Corporation plans to distribute slightly more than 80% of the shares of common stock of SFGI (“SFGI share(s)”) to shareholders of Sony Group Corporation through dividends in kind. As a result of the Board resolution on May 14, 2025 on the plan for the execution of the Spin-off, the Financial Services business will be classified as a discontinued operation, in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations,” from the first quarter of the fiscal year ending March 31, 2026. As a result, in the consolidated statements of income, consolidated statements of comprehensive income and consolidated statements of cash flows, revenue, expenses, other comprehensive income and cash flows of the Financial Services business, among other items, will be separated from continuing operations, comprised of Sony’s businesses excluding the Financial Services business, and presented as net income or loss from discontinued operations, other comprehensive income from discontinued operations, and net cash from discontinued operations, respectively. Additionally, in the consolidated statements of financial position, assets and liabilities of the Financial Services business will be classified as a disposal group held for distribution to owners. Accumulated other comprehensive income directly related to the disposal group will also be classified as held for distribution to owners.

The disposal group classified as held for distribution to owners will be valued at the lower of its carrying amount, or its fair value less the incremental costs directly attributable to the distribution of the disposal group, excluding finance costs and income tax expense. If the fair value after deducting such incremental costs is less than the carrying amount, the difference will be recorded as a loss within net income or loss from discontinued operations.

Upon the resolution of the Board for the distribution of dividends in kind, in accordance with IFRIC^®^ Interpretation 17 “Distributions of Non-cash Assets to Owners,” Sony Group Corporation will reduce its equity by an amount equal to the fair value of the SFGI shares to be distributed as dividends in kind and record such reduction in equity as a liability.

In addition, upon the execution of the Spin-off, Sony Group Corporation will account for the loss of control of the Financial Services business (“deconsolidation”) in accordance with IFRS 10 “Consolidated Financial Statements.” In addition to the derecognition of assets and liabilities of the Financial Services business which had been classified as the disposal group, such deconsolidation mainly includes the following treatments: (1) reducing the amount of the liability corresponding to the fair value of the SFGI shares to be distributed as dividends in kind, and recording the difference between the fair value of such SFGI shares and the carrying amount of the portion of the disposal group corresponding to the equity interest in SFGI to be distributed as dividends in kind in net income or loss from discontinued operations; (2) reclassifying the Financial Services business’s accumulated other comprehensive income balance at the time of deconsolidation, which is mainly related to debt instruments and insurance contract liabilities, to net income or loss from discontinued operations (For reference, the total accumulated other comprehensive income recorded in the Financial Services business as of the end of March 2025 was a loss of approximately 1.4 trillion yen. This accounting treatment is a reclassification between items within equity and does not affect the amount of total equity in the consolidated statements of financial position.); and (3) remeasuring the SFGI shares that Sony Group Corporation retains after the Spin-off at fair value, and recording any difference between the carrying amount of the disposal group corresponding to the equity interest in SFGI which Sony Group Corporation retains and such fair value in net income or loss from discontinued operations.

After the execution of the Spin-off, it is expected that Sony Group Corporation will hold slightly less than 20% of SFGI shares and SFGI will no longer be a consolidated subsidiary of Sony Group Corporation, but will become an affiliate of Sony Group Corporation accounted for using the equity method.

(Establishment of a facility for the repurchaseof shares of its own common stock)

Sony Group Corporation approved the establishment of the following facility for the repurchase of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation at the meeting of its Board of Directors held on May 14, 2025.

Total number of shares for repurchase: 100 million shares (maximum)
Total purchase price for repurchase of shares: 250 billion yen (maximum)
Period of repurchase: May 15, 2025 to May 14, 2026
- 24 -

Overview of Operating Results

For the overview of operating results for the fiscal year ended March 31, 2025 and the results forecast for the fiscal year ending March 31, 2026, as well as the progress on the Fifth Mid-Range Plan, please refer to “FY2024 Consolidated Financial Results” (the presentation material for the earnings announcement) disclosed on the same date as this document on the TDnet of the TSE, the EDGAR system of the SEC and the website of Sony Group Corporation.

Basic Views on Selection of Accounting Standards

Sony has voluntarily adopted IFRS Accounting Standards from the first quarter of the fiscal year ended March 31, 2022, with the goal of further streamlining and maintaining the quality of Sony’s financial and management reporting systems over the mid- to long-term, and with the aim of improving the international comparability of financial information in the capital markets.

Cautionary Statement

Statements made in this material with respect to Sony’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. Forward-looking statements include, but are not limited to, those statements using words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “forecast,” “estimate,” “project,” “anticipate,” “aim,” “intend,” “seek,” “may,” “might,” “could” or “should,” and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management’s assumptions, judgments and beliefs in light of the information currently available to it. Sony cautions investors that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore investors should not place undue reliance on them. Investors also should not rely on any obligation of Sony to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Sony disclaims any such obligation. Risks and uncertainties that might affect Sony include, but are not limited to:

(i)	Sony’s ability to maintain product quality and customer satisfaction with its products and services;
(ii)	Sony’s ability to continue to design and develop and win acceptance of, as well as achieve sufficient cost reductions for, its products and services, including image sensors, game and network platforms, smartphones and televisions, which are offered in highly competitive markets characterized by severe price competition and continual new product and service introductions, rapid development in technology and subjective and changing customer preferences;
(iii)	Sony’s ability to implement successful hardware, software, and content integration strategies, and to develop and implement successful sales and distribution strategies in light of new technologies and distribution platforms;
(iv)	the effectiveness of Sony’s strategies and their execution, including but not limited to the success of Sony’s acquisitions, joint ventures, investments, capital expenditures, restructurings and other strategic initiatives;
(v)	changes in laws, regulations and government policies in the markets in which Sony and its third-party suppliers, service providers and business partners operate, including those related to taxation, as well as growing consumer focus on corporate social responsibility;
(vi)	Sony’s continued ability to identify the products, services and market trends with significant growth potential, to devote sufficient resources to research and development, to prioritize investments and capital expenditures correctly and to recoup its investments and capital expenditures, including those required for technology development and product capacity;
(vii)	Sony’s reliance on external business partners, including for the procurement of parts, components, software and network services for its products or services, the manufacturing, marketing and distribution of its products, and its other business operations;
(viii)	the global economic and political environment in which Sony operates and the economic and political conditions in Sony’s markets, particularly levels of consumer spending;
(ix)	Sony’s ability to meet operational and liquidity needs as a result of significant volatility and disruption in the global financial markets or a ratings downgrade;
(x)	Sony’s ability to forecast demands, manage timely procurement and control inventories;
(xi)	foreign exchange rates, particularly between the yen and the U.S. dollar, the euro and other currencies in which Sony makes significant sales and incurs production costs, or in which Sony’s assets, liabilities and operating results are denominated;
(xii)	Sony’s ability to recruit, retain and maintain productive relations with highly skilled personnel;
(xiii)	Sony’s ability to prevent unauthorized use or theft of intellectual property rights, to obtain or renew licenses relating to intellectual property rights and to defend itself against claims that its products or services infringe the intellectual property rights owned by others;
(xiv)	the impact of changes in interest rates and unfavorable conditions or developments (including market fluctuations or volatility) in the equity and bond markets on the revenue and operating income of the Financial Services segment;
(xv)	shifts in customer demand for financial services such as life insurance and Sony’s ability to conduct successful asset liability management in the Financial Services segment;
(xvi)	risks related to catastrophic disasters, geopolitical conflicts, pandemic disease or similar events;
(xvii)	the ability of Sony, its third-party service providers or business partners to anticipate and manage cybersecurity risk, including the risk of unauthorized access to Sony’s business information and the personally identifiable information of its employees and customers, potential business disruptions or financial losses; and
(xviii)	the outcome of pending and/or future legal and/or regulatory proceedings.

Risks and uncertainties also include the impact of any future events with material adverse impact. The continued impact of developments relating to the situations in Ukraine and Russia and in the Middle East, as well as the series of changes in U.S. tariff policy, could heighten many of the risks and uncertainties noted above. Important information regarding risks and uncertainties is also set forth in Sony’s most recent Form 20-F, which is on file with the U.S. Securities and Exchange Commission.

- 25 -

SONY 6-K