Sony posts EPS 99.83 yen and unveils buyback up to 35M shares

Rhea-AI Filing Summary

Sony Group Corporation reported stronger first-half FY2025 results. For the six months ended September 30, 2025, sales were 5,729,522 million yen, up 3.5%, and operating income rose 20.4% to 768,929 million yen. Income before income taxes was 798,362 million yen, and net income attributable to stockholders from continuing operations was 570,452 million yen. Basic EPS was 99.83 yen.

The company maintained its full-year outlook for continuing operations: sales of 12,000,000 million yen, operating income of 1,430,000 million yen, income before income taxes of 1,460,000 million yen, and net income attributable to stockholders of 1,050,000 million yen. The dividend forecast totals 25.00 yen per share for FY2025.

Sony executed the spin-off of Sony Financial Group Inc. effective October 1, 2025, distributing SFGI shares as a dividend in kind and retaining a 16.40% stake. Following the spin-off, approximately 1 trillion 380 billion yen of accumulated other comprehensive income is expected to be transferred to net loss from discontinued operations, with offsetting equity-method profit and impairment effects. The Board also approved a share repurchase facility of up to 35 million shares or 100 billion yen from November 12, 2025 to May 14, 2026.

Insights

Equity & IFRS specialist

Solid H1 growth; spin-off accounting swings and a measured buyback.

Sony delivered first-half sales of 5,729,522 million yen and operating income of 768,929 million yen, reflecting broad-based strength with notable contributions from Imaging & Sensing Solutions and Music. Basic EPS reached 99.83 yen, while continuing-operations net income attributable to stockholders was 570,452 million yen.

The spin-off of SFGI on October 1, 2025 introduces significant accounting effects. Management discloses that about 1 trillion 380 billion yen of accumulated other comprehensive income will be transferred to net loss from discontinued operations. They also expect an equity-method profit on initial recognition and a same-amount impairment because fair value at October 1, 2025 is below the carrying amount.

The Board authorized a buyback of up to 35 million shares for up to 100 billion yen from November 12, 2025 to May 14, 2026. Actual impact will depend on execution within those caps and market conditions.

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 November 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 (Registrant)
	By:	/s/ Lin Tao
		(Signature)
	Lin Tao
	Chief Financial Officer

Date: November 11, 2025

List of Materials

Documents attached hereto:

Consolidated Financial Summary for the Second Quarter (Semi-annual) Ended September 30, 2025

Consolidated Financial Summary for the Second Quarter (Semi-annual)

Ended September 30, 2025

(In accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”))

November 11, 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	: Teruya Kondo, General Manager, Investor Relations Office
Telephone	: +81-3-6748-2111
Scheduled date to file semi-annual securities report	: November 14, 2025
Scheduled date to commence dividend payment	: December 5, 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 six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

(1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

Continuing operations*1	Sales		Operating income		Income before income taxes		Net income		Net income attributable to Sony Group Corporation’s stockholders
Six months ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
September 30, 2025	5,729,522	3.5	768,929	20.4	798,362	18.9	581,227	14.5	570,452	13.7
September 30, 2024	5,536,585	-	638,462	-	671,393	-	507,428	-	501,909	-

Continuing operations*1	Total comprehensive income		Basic earnings per share*2	Diluted earnings per share*2
Six months ended	Yen in millions	%	Yen	Yen
September 30, 2025	670,993	138.8	95.09	94.51
September 30, 2024	280,984	-	82.61	82.34

*1 Effective October 1, 2025, Sony Group Corporation executed a partial spin-off of Sony Financial Group Inc. (“SFGI”), a formerly wholly-owned subsidiary which operates the Financial Services business (the “Spin-off”). As a result of the resolution of Sony Group Corporation’s Board of Directors on May 14, 2025 on a plan for the execution of the Spin-off, the Financial Services business has been classified as a discontinued operation and presented separately from continuing operations, comprised of Sony’s businesses excluding the Financial Services business, from the three months ended June 30, 2025, in accordance with IFRS Accounting Standards. Therefore, the above operating results represent the results for continuing operations. The results for the six months ended September 30, 2024, the comparative period, have been re-presented to conform to the current presentation. On a consolidated basis including the discontinued operation, net income, net income attributable to Sony Group Corporation’s stockholders and total comprehensive income for the six months ended September 30, 2025 were 609,652 million yen, 598,877 million yen and 730,387 million yen, respectively. On a consolidated basis including the discontinued operation, basic earnings per share and diluted earnings per share for the six months ended September 30, 2025 were 99.83 yen and 99.22 yen, respectively. For details of discontinued operations, please refer to “Notes to Condensed Semi-annual Consolidated Financial Statements - Accounting Policy and Other Information (Discontinued Operations)” on page 19 of the Appendix.

*2 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, 2025.

(2) Consolidated financial position

	Total assets	Total equity	Equity attributable to Sony Group Corporation’s stockholders	Ratio of equity attributable to Sony Group Corporation’s stockholders to total assets
As of	Yen in millions	Yen in millions	Yen in millions	%
September 30, 2025	36,127,949	7,994,061	7,687,602	21.3
March 31, 2025	35,293,173	8,510,151	8,179,745	23.2

2. Dividends

	Annual dividends per share
	First quarter-end	Second quarter-end	Third quarter-end	Year-end	Total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended March 31, 2025*	-	50.00	-	10.00	-
Fiscal year ending March 31, 2026	-	12.50
Fiscal year ending March 31, 2026 (Forecast)			-	12.50	25.00

Notes:

1 Revisions to the forecast of dividends most recently announced: No

2 Upon the execution of the above-mentioned Spin-off, Sony Group Corporation distributed dividends in kind to shareholders appearing in its register of shareholders as of the record date, September 30, 2025, at the rate of one share of common stock of SFGI (“SFGI share(s)”) to one share of common stock of Sony Group Corporation held by each shareholder. However, the above dividend forecast for the fiscal year ending March 31, 2026 does not include such dividends in kind. For details of dividends in kind, please refer to “(Reference) Overview of dividends in kind (non-cash dividends)” below.

* 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. For the fiscal year ended March 31, 2025, taking the stock split into account, the interim dividend per share at the end of the second quarter would be 10 yen and the total annual dividend per share would be 20 yen.

3. Forecast for Consolidated Results for the Fiscal Year Ending March 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 Group Corporation’s stockholders
	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
Continuing operations	12,000,000	-0.3	1,430,000	12.0	1,460,000	8.7	1,050,000	-1.6

Notes:

1 Revisions to the forecast for the fiscal year ending March 31, 2026 most recently announced: Yes

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 tariff rates announced as of November 4, 2025. The actual impact could vary significantly from this estimation if future tariff policy or other factors are changed.

3 The above results forecast represents the forecast for continuing operations. In connection with the execution of the above-mentioned Spin-off, a loss of 1 trillion 380 billion yen is expected to be recorded within net income or loss from discontinued operations as a result of the reclassification of the Financial Services business’s accumulated other comprehensive income balance at the time of deconsolidation to net income or loss from discontinued operations. This accounting treatment is a reclassification between items within equity in the consolidated statements of financial position and does not affect total equity or cash flows, or profit or loss for continuing operations. Additionally, it does not affect Sony Group Corporation’s standalone financial statements based on Japanese generally accepted accounting principles (“J-GAAP”) nor the amount available for dividends. Including such loss, a total loss of 1 trillion 360 billion yen is expected to be recorded within net income or loss from discontinued operations in the fiscal year ending March 31, 2026, and the forecast for net income or loss attributable to Sony Group Corporation’s stockholders on a consolidated basis including the discontinued operation for the fiscal year ending March 31, 2026 is a loss of 310 billion yen. Please refer to “Notes to Consolidated Financial Statements - Subsequent Events” on page 20 of the Appendix for the details of the accounting treatments in connection with the Spin-off.

Notes

(1)	Significant changes in scope of consolidation during the period		: No
(2)	Changes in accounting policies and changes in accounting estimates:
	(i)	Changes in accounting policies required by IFRS Accounting Standards	: No
	(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 period (including treasury stock)

As of September 30, 2025	6,149,810,645	shares
As of March 31, 2025	6,149,810,645	shares

(ii)  Number of shares of treasury stock at the end of the period

As of September 30, 2025	172,670,715	shares
As of March 31, 2025	124,806,850	shares

(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30, 2025	5,999,085,243	shares
Six months ended September 30, 2024	6,075,284,132	shares

Notes:

1 Please refer to “Notes to Condensed Semi-annual Consolidated Financial Statements - Accounting Policy and Other Information (Net Income Attributable to Sony Group Corporation’s Stockholders per Share (“EPS”) and Weighted-average Number of Outstanding Shares Used for the Computation of EPS of Common Stock)” on page 17 of the Appendix for number of shares used as basis for calculating consolidated per share data.

2 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 the number of issued shares (common stock) are calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended March 31, 2025.

* Consolidated Financial Summary for the Second Quarter (Semi-annual) is exempt from review conducted by certified public accountants or an audit firm.

* Proper use of earnings forecasts, and other special matters:

Please refer to “Cautionary Statement” on page 21 of the Appendix for assumptions and other matters related to the forecast of financial results.

Supplementary materials on financial results including the presentation material for the earnings announcement are available on Sony Group Corporation’s website along with this document.

(Reference) Overview of dividends in kind (non-cash dividends)

(1) Record date	Tuesday, September 30, 2025
(2) Type of dividend property	SFGI shares
(3) Total carrying amount of dividend property and value per share	463,885,829,967 yen (77.61 yen per share)
(4) Total fair value of dividend property and value per share	- *
(5) Effective date	Wednesday, October 1, 2025

* In Sony Group Corporation’s standalone financial statements based on J-GAAP, the Spin-off will be accounted for at the appropriate carrying amount of the dividend property as of the effective date of the dividends in kind. The same will apply to the calculation of Sony Group Corporation’s amount available for dividends. Accordingly, the fair value of SFGI shares, which are the dividend property, has not been disclosed.

(Appendix)

Table of Contents for Appendix

Condensed Semi-annual Consolidated Financial Statements (Unaudited)	2
Condensed Semi-annual Consolidated Statements of Financial Position	2
Condensed Quarterly Consolidated Statements of Income (Three months ended September 30)	4
Condensed Quarterly Consolidated Statements of Comprehensive Income (Three months ended September 30)	5
Condensed Semi-annual Consolidated Statements of Income (Six months ended September 30)	6
Condensed Semi-annual Consolidated Statements of Comprehensive Income (Six months ended September 30)	7
Condensed Semi-annual Consolidated Statements of Changes in Stockholders’ Equity (Six months ended September 30)	8
Condensed Semi-annual Consolidated Statements of Cash Flows (Six months ended September 30)	9
Notes to Condensed Semi-annual Consolidated Financial Statements	11
-      Business Segment Information	11
-      Going Concern Assumption	17
-      Accounting Policy and Other Information	17
-      Subsequent Events	20
Overview of Operating Results	21
Cautionary Statement	21

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)

Condensed Semi-annual Consolidated Financial Statements

Condensed Semi-annual Consolidated Statements of Financial Position

		Yen in millions
		March 31, 2025				September 30, 2025				Change from March 31, 2025
ASSETS
Current assets:
Cash and cash equivalents			2,980,956				1,497,897				(1,483,059	)
Investments and advances in the Financial Services segment			453,677				-				(453,677	)
Trade and other receivables, and contract assets			1,943,184				2,039,581				96,397
Inventories			1,310,770				1,676,231				365,461
Other financial assets			145,192				24,434				(120,758	)
Other current assets			621,209				712,588				91,379
Assets classified as held for distribution to owners			-				21,286,470				21,286,470
Total current assets			7,454,988				27,237,201				19,782,213
Non-current assets:
Investments accounted for using the equity method			347,718				366,780				19,062
Investments and advances in the Financial Services segment			18,736,298				-				(18,736,298	)
Property, plant and equipment			1,513,660				1,403,925				(109,735	)
Right-of-use assets			521,685				433,185				(88,500	)
Goodwill			1,508,721				1,514,177				5,456
Content assets			2,249,048				2,306,133				57,085
Other intangible assets			671,212				562,837				(108,375	)
Deferred tax assets			559,284				480,970				(78,314	)
Other financial assets			1,164,630				1,293,993				129,363
Other non-current assets			565,929				528,748				(37,181	)
Total non-current assets			27,838,185				8,890,748				(18,947,437	)
Total assets			35,293,173				36,127,949				834,776

(Continued on the following page.)

- 2 -

Condensed Semi-annual Consolidated Statements of Financial Position (Continued)

		Yen in millions
		March 31, 2025				September 30, 2025				Change from March 31, 2025
LIABILITIES
Current liabilities:
Short-term borrowings			1,843,959				50,467				(1,793,492	)
Current portion of long-term debt			287,445				208,626				(78,819	)
Trade and other payables			2,100,144				2,303,392				203,248
Deposits from customers in the banking business			3,981,193				-				(3,981,193	)
Income taxes payables			89,485				156,167				66,682
Accrued liabilities for dividends in kind			-				955,700				955,700
Participation and residual liabilities in the Pictures segment			236,752				213,848				(22,904	)
Other financial liabilities			110,689				254,494				143,805
Other current liabilities			2,039,121				1,700,414				(338,707	)
Liabilities classified as held for distribution to owners			-				20,185,222				20,185,222
Total current liabilities			10,688,788				26,028,330				15,339,542
Non-current liabilities:
Long-term debt			2,066,842				1,344,452				(722,390	)
Defined benefit liabilities			236,941				200,430				(36,511	)
Deferred tax liabilities			175,228				182,588				7,360
Insurance contract liabilities			12,689,306				-				(12,689,306	)
Participation and residual liabilities in the Pictures segment			188,919				144,784				(44,135	)
Other financial liabilities			574,351				87,106				(487,245	)
Other non-current liabilities			162,647				146,198				(16,449	)
Total non-current liabilities			16,094,234				2,105,558				(13,988,676	)
Total liabilities			26,783,022				28,133,888				1,350,866
EQUITY
Sony Group Corporation’s stockholders’ equity:
Common stock			881,357				881,357				-
Additional paid-in capital			1,483,527				1,474,297				(9,230	)
Retained earnings			6,678,168				6,261,849				(416,319	)
Accumulated other comprehensive income			(566,447	)			941,206				1,507,653
Accumulated other comprehensive income directly related to the disposal group classified as held for distribution to owners			-				(1,381,779	)			(1,381,779	)
Treasury stock, at cost			(296,860	)			(489,328	)			(192,468	)
Equity attributable to Sony Group Corporation’s stockholders			8,179,745				7,687,602				(492,143	)
Noncontrolling interests			330,406				306,459				(23,947	)
Total equity			8,510,151				7,994,061				(516,090	)
Total liabilities and equity			35,293,173				36,127,949				834,776

- 3 -

Condensed Quarterly Consolidated Statements of Income

		Yen in millions
		Three months ended September 30
		2024				2025				Change
Continuing operations
Sales			2,971,224				3,107,907				136,683
Costs and expenses:
Cost of sales			2,044,651				2,100,373				55,722
Selling, general and administrative			537,437				552,949				15,512
Other operating (income) expense, net			(2,881	)			23,964				26,845
Total costs and expenses			2,579,207				2,677,286				98,079
Share of profit (loss) of investments accounted for using the equity method			(2,676	)			(1,647	)			1,029
Operating income			389,341				428,974				39,633
Financial income			30,653				31,453				800
Financial expenses			35,483				18,666				(16,817	)
Income before income taxes			384,511				441,761				57,250
Income taxes			91,426				123,354				31,928
Net income from continuing operations			293,085				318,407				25,322
Discontinued Operations
Net income from discontinued operations			46,740				50,543				3,803
Net income			339,825				368,950				29,125
Net income attributable to
Sony Group Corporation’s stockholders			338,496				361,968				23,472
Net income from continuing operations			291,756				311,425				19,669
Net income from discontinued operations			46,740				50,543				3,803
Noncontrolling interests			1,329				6,982				5,653

		Yen
		Three months ended September 30
		2024				2025				Change
Per share data:
Net income attributable to Sony Group Corporation’s stockholders
- Basic			55.93				60.48				4.55
Continuing operations			48.21				52.03				3.82
Discontinued operations			7.72				8.45				0.73
- Diluted			55.74				60.10				4.36
Continuing operations			48.04				51.71				3.67
Discontinued operations			7.70				8.39				0.69

- 4 -

Condensed Quarterly Consolidated Statements of Comprehensive Income

		Yen in millions
		Three months ended September 30
		2024				2025				Change
Net income			339,825				368,950				29,125
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			(1,242	)			3,319				4,561
Remeasurement of defined benefit pension plans			(5	)			6				11
Share of other comprehensive income of investments accounted for using the equity method			(4	)			192				196
Other comprehensive income from discontinued operations			(851	)			872				1,723
Items that may be reclassified subsequently to profit or loss
Cash flow hedges			861				(3,604	)			(4,465	)
Exchange differences on translating foreign operations			(444,415	)			113,183				557,598
Share of other comprehensive income of investments accounted for using the equity method			(5,390	)			1,089				6,479
Other comprehensive income from discontinued operations			103,361				(23,189	)			(126,550	)
Total other comprehensive income, net of tax			(347,685	)			91,868				439,553
Comprehensive income			(7,860	)			460,818				468,678
Total Comprehensive income
Comprehensive income from continuing operations			(157,110	)			432,592				589,702
Comprehensive income from discontinued operations			149,250				28,226				(121,024	)
Comprehensive income attributable to
Sony Group Corporation’s stockholders			(7,156	)			453,407				460,563
Comprehensive income from continuing operations			(156,406	)			425,181				581,587
Comprehensive income from discontinued operations			149,250				28,226				(121,024	)
Noncontrolling interests			(704	)			7,411				8,115

- 5 -

Condensed Semi-annual Consolidated Statements of Income

		Yen in millions
		Six months ended September 30
		2024				2025				Change
Continuing operations
Sales			5,536,585				5,729,522				192,937
Costs and expenses:
Cost of sales			3,829,040				3,875,440				46,400
Selling, general and administrative			1,080,851				1,067,751				(13,100	)
Other operating (income) expense, net			(12,788	)			14,044				26,832
Total costs and expenses			4,897,103				4,957,235				60,132
Share of profit (loss) of investments accounted for using the equity method			(1,020	)			(3,358	)			(2,338	)
Operating income			638,462				768,929				130,467
Financial income			76,479				79,965				3,486
Financial expenses			43,548				50,532				6,984
Income before income taxes			671,393				798,362				126,969
Income taxes			163,965				217,135				53,170
Net income from continuing operations			507,428				581,227				73,799
Discontinued Operations
Net income from discontinued operations			68,225				28,425				(39,800	)
Net income			575,653				609,652				33,999
Net income attributable to
Sony Group Corporation’s stockholders			570,134				598,877				28,743
Net income from continuing operations			501,909				570,452				68,543
Net income from discontinued operations			68,225				28,425				(39,800	)
Noncontrolling interests			5,519				10,775				5,256

		Yen
		Six months ended September 30
		2024				2025				Change
Per share data:
Net income attributable to Sony Group Corporation’s stockholders
- Basic			93.84				99.83				5.99
Continuing operations			82.61				95.09				12.48
Discontinued operations			11.23				4.74				(6.49	)
- Diluted			93.53				99.22				5.69
Continuing operations			82.34				94.51				12.17
Discontinued operations			11.19				4.71				(6.48	)

- 6 -

Condensed Semi-annual Consolidated Statements of Comprehensive Income

		Yen in millions
		Six months ended September 30
		2024				2025				Change
Net income			575,653				609,652				33,999
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			(16,828	)			2,516				19,344
Remeasurement of defined benefit pension plans			(763	)			6				769
Share of other comprehensive income of investments accounted for using the equity method			(1,144	)			151				1,295
Other comprehensive income from discontinued operations			(356	)			857				1,213
Items that may be reclassified subsequently to profit or loss
Cash flow hedges			(1,416	)			(4,548	)			(3,132	)
Exchange differences on translating foreign operations			(204,714	)			90,883				295,597
Share of other comprehensive income of investments accounted for using the equity method			(1,579	)			758				2,337
Other comprehensive income from discontinued operations			21,168				30,112				8,944
Total other comprehensive income, net of tax			(205,632	)			120,735				326,367
Comprehensive income			370,021				730,387				360,366
Total Comprehensive income
Comprehensive income from continuing operations			280,984				670,993				390,009
Comprehensive income from discontinued operations			89,037				59,394				(29,643	)
Comprehensive income attributable to
Sony Group Corporation’s stockholders			365,683				720,295				354,612
Comprehensive income from continuing operations			276,646				660,901				384,255
Comprehensive income from discontinued operations			89,037				59,394				(29,643	)
Noncontrolling interests			4,338				10,092				5,754

- 7 -

Condensed Semi-annual Consolidated Statements of Changes in Stockholders’ Equity

		Yen in millions
		Common stock				Additional paid-in capital				Retained earnings				Accumulated other comprehensive income				Treasury stock, at cost				Sony Group Corporation’s stockholders’ equity				Noncontrolling interests				Total 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											570,134												570,134				5,519				575,653
Other comprehensive income, net of tax															(204,451	)							(204,451	)			(1,181	)			(205,632	)
Total comprehensive income											570,134				(204,451	)							365,683				4,338				370,021
Transfer to retained earnings											(21,657	)			21,657								-								-
Transactions with stockholders and other:
Stock issued under stock-based compensation transactions							0				(1,631	)							8,003				6,372								6,372
Compensation expenses related to stock-based compensation transactions							10,707																10,707								10,707
Dividends declared											(54,965	)											(54,965	)			(4,220	)			(59,185	)
Purchase of treasury stock																			(202,107	)			(202,107	)							(202,107	)
Reissuance of treasury stock							1												4				5								5
Cancellation of treasury stock							(839	)			(127,738	)							128,577				-								-
Transactions with noncontrolling interests shareholders and other							(3,900	)															(3,900	)			137,802				133,902
Balance at September 30, 2024			881,357				1,489,379				6,366,550				(558,857	)			(469,457	)			7,708,972				306,848				8,015,820

		Yen in millions
		Common stock				Additional paid-in capital				Retained earnings				Accumulated other comprehensive income				Accumulated other comprehensive income directly related to disposal groups classified as held for distribution to owners				Treasury stock, at cost				Sony Group Corporation’s stockholders’ equity				Noncontrolling interests				Total equity
Balance at April 1, 2025			881,357				1,483,527				6,678,168				(566,447	)			-				(296,860	)			8,179,745				330,406				8,510,151
Comprehensive income:
Net income											598,877																598,877				10,775				609,652
Other comprehensive income, net of tax															56,155				65,263								121,418				(683	)			120,735
Total comprehensive income											598,877				56,155				65,263								720,295				10,092				730,387
Transfer to retained earnings											754				(824	)			70								-								-
Transactions with stockholders and other:
Stock issued under stock-based compensation transactions							1,364																26,897				28,261								28,261
Compensation expenses related to stock-based compensation transactions							8,112																				8,112								8,112
Dividends declared											(60,250	)															(60,250	)			(19,032	)			(79,282	)
Dividends in kind											(955,700	)															(955,700	)							(955,700	)
Purchase of treasury stock																							(219,365	)			(219,365	)							(219,365	)
Reissuance of treasury stock							0																0				0								0
Transfer to held for distribution to owners															1,447,112				(1,447,112	)							-								-
Transactions with noncontrolling interests shareholders and other							(18,706	)							5,210												(13,496	)			(15,007	)			(28,503	)
Balance at September 30, 2025			881,357				1,474,297				6,261,849				941,206				(1,381,779	)			(489,328	)			7,687,602				306,459				7,994,061

- 8 -

Condensed Semi-annual Consolidated Statements of Cash Flows

		Yen in millions
		Six months ended September 30
		2024				2025
Cash flows from operating activities:
Income before income taxes from continuing operations			671,393				798,362
Adjustments to reconcile income before income taxes from continuing operations to net cash provided by (used in) operating activities:
Depreciation and amortization, including amortization of contract costs			535,561				556,579
Other operating (income) expense, net			(12,788	)			14,044
Gain on securities, net			(45,774	)			(38,907	)
Share of loss of investments accounted for using the equity method, net of dividends			8,430				10,200
Changes in assets and liabilities:
Increase in trade receivables and contract assets			(58,634	)			(212,064	)
Increase in inventories			(260,950	)			(344,176	)
Increase in content assets			(408,541	)			(295,046	)
Increase in trade payables			363,742				328,241
Decrease in taxes payable other than income taxes, net			(16,207	)			(5,352	)
Increase in other financial assets and other current assets			(36,747	)			(65,172	)
Decrease in other financial liabilities and other current liabilities			(62,443	)			(44,184	)
Income taxes paid			(127,321	)			(89,895	)
Other			22,475				(120,339	)
Total net cash provided by operating activities from continuing operations			572,196				492,291
Net cash provided by (used in) operating activities from discontinued operations			44,093				(20,675	)
Net cash provided by operating activities			616,289				471,616

(Continued on the following page.)

- 9 -

Condensed Semi-annual Consolidated Statements of Cash Flows (Continued)

		Yen in millions
		Six months ended September 30
		2024				2025
Cash flows from investing activities:
Payments for property, plant and equipment and other intangible assets			(390,874	)			(219,879	)
Proceeds from sales of property, plant and equipment and other intangible assets			6,648				2,516
Payments for investments and advances			(41,023	)			(110,943	)
Proceeds from sales or return of investments and collections of advances			33,293				8,465
Payments for purchases of businesses and other			(266,496	)			(63,494	)
Proceeds from sales of businesses			1,404				3,464
Other			26,920				2,181
Total net cash used in investing activities from continuing operations			(630,128	)			(377,690	)
Net cash used in investing activities from discontinued operations			(14,802	)			(16,281	)
Net cash used in investing activities			(644,930	)			(393,971	)
Cash flows from financing activities:
Increase in short-term borrowings, net			40,410				3,132
Proceeds from issuance of long-term debt			11,085				10,480
Payments of long-term debt			(55,945	)			(83,165	)
Dividends paid			(54,931	)			(60,209	)
Payments for purchases of treasury stock			(202,107	)			(219,365	)
Capital contribution from non-controlling interests			150,804				-
Other			(11,129	)			(24,991	)
Total net cash used in financing activities from continuing operations			(121,813	)			(374,118	)
Net cash used in financing activities from discontinued operations			(5,161	)			(9,253	)
Net cash used in financing activities			(126,974	)			(383,371	)
Effect of exchange rate changes on cash and cash equivalents			(22,788	)			(7,265	)
Net decrease in cash and cash equivalents			(178,403	)			(312,991	)
Cash and cash equivalents at beginning of the fiscal year			1,907,113				2,980,956
Cash and cash equivalents at end of the period			1,728,710				2,667,965
Cash and cash equivalents included in assets held for distribution to owners			-				1,170,068
Cash and cash equivalents in the Condensed Semi-annual Consolidated Statements of Financial Position			1,728,710				1,497,897

- 10 -

Notes to Condensed Semi-annual Consolidated Financial Statements

Business Segment Information

At a meeting of Sony Group Corporation’s Board of Directors (the “Board”) held on May 14, 2025, Sony Group Corporation resolved the plan regarding the execution of a partial spin-off (the “Spin-off”) of Sony Financial Group Inc. (“SFGI”), a wholly-owned subsidiary which operates the Financial Services business. In accordance with the resolution, the Financial Services business was classified as a discontinued operation and has been excluded from the reporting segments. Consequently, the figures for comparative periods have been re-presented. For further information on discontinued operations, please refer to “Notes to Condensed Semi-annual Consolidated Financial Statements - Accounting Policy and Other Information (Discontinued operations).”

(Business Segments)

Segment sales

		Yen in millions
		Three months ended September 30
		2024				2025				Change
Sales:
Game & Network Services -
Customers			1,034,198				1,070,432				36,234
Intersegment			37,332				42,739				5,407
Total			1,071,530				1,113,171				41,641
Music -
Customers			444,000				532,410				88,410
Intersegment			4,197				9,951				5,754
Total			448,197				542,361				94,164
Pictures -
Customers			353,390				343,296				(10,094	)
Intersegment			2,406				2,737				331
Total			355,796				346,033				(9,763	)
Entertainment, Technology & Services -
Customers			605,712				550,727				(54,985	)
Intersegment			14,047				25,010				10,963
Total			619,759				575,737				(44,022	)
Imaging & Sensing Solutions -
Customers			509,769				586,183				76,414
Intersegment			25,798				28,459				2,661
Total			535,567				614,642				79,075
All Other -
Customers			20,555				19,555				(1,000	)
Intersegment			3,334				4,088				754
Total			23,889				23,643				(246	)
Corporate and elimination			(83,514	)			(107,680	)			(24,166	)
Consolidated total			2,971,224				3,107,907				136,683

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.

Intersegment amounts in each segment, as well as Corporate and elimination, include transaction amounts with discontinued operations.

- 11 -

Segment profit (loss)

		Yen in millions
		Three months ended September 30
		2024				2025				Change
Operating income (loss):
Game & Network Services			138,849				120,354				(18,495	)
Music			90,360				115,377				25,017
Pictures			18,475				13,850				(4,625	)
Entertainment, Technology & Services			70,155				60,960				(9,195	)
Imaging & Sensing Solutions			92,412				138,267				45,855
All Other			(6,483	)			(2,906	)			3,577
Total			403,768				445,902				42,134
Corporate and elimination			(14,427	)			(16,928	)			(2,501	)
Consolidated operating income			389,341				428,974				39,633

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

Operating income (loss) in each segment, as well as Corporate and elimination, include transaction amounts with discontinued operations.

- 12 -

Segment sales

		Yen in millions
		Six months ended September 30
		2024				2025				Change
Sales:
Game & Network Services -
Customers			1,878,486				1,983,242				104,756
Intersegment			57,955				66,462				8,507
Total			1,936,441				2,049,704				113,263
Music -
Customers			879,726				991,362				111,636
Intersegment			10,493				16,340				5,847
Total			890,219				1,007,702				117,483
Pictures -
Customers			689,946				669,502				(20,444	)
Intersegment			3,196				3,635				439
Total			693,142				673,137				(20,005	)
Entertainment, Technology & Services -
Customers			1,199,891				1,069,404				(130,487	)
Intersegment			20,783				40,591				19,808
Total			1,220,674				1,109,995				(110,679	)
Imaging & Sensing Solutions -
Customers			843,077				971,647				128,570
Intersegment			45,970				51,185				5,215
Total			889,047				1,022,832				133,785
All Other -
Customers			39,488				35,794				(3,694	)
Intersegment			5,491				7,179				1,688
Total			44,979				42,973				(2,006	)
Corporate and elimination			(137,917	)			(176,821	)			(38,904	)
Consolidated total			5,536,585				5,729,522				192,937

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.

Intersegment amounts in each segment, as well as Corporate and elimination, include transaction amounts with discontinued operations.

- 13 -

Segment profit (loss)

		Yen in millions
		Six months ended September 30
		2024				2025				Change
Operating income (loss):
Game & Network Services			204,058				268,311				64,253
Music			176,253				208,184				31,931
Pictures			29,783				32,515				2,732
Entertainment, Technology & Services			134,238				104,103				(30,135	)
Imaging & Sensing Solutions			129,059				192,518				63,459
All Other			(5,208	)			(7,874	)			(2,666	)
Total			668,183				797,757				129,574
Corporate and elimination			(29,721	)			(28,828	)			893
Consolidated operating income			638,462				768,929				130,467

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

Operating income (loss) in each segment, as well as Corporate and elimination, include transaction amounts with discontinued operations.

- 14 -

(Sales to Customers by Product Category)

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

		Yen in millions
		Three months ended September 30
Sales:		2024				2025				Change
Game & Network Services
Digital Software and Add-on Content			559,024				568,129				9,105
Network Services			160,779				182,681				21,902
Hardware and Others			314,395				319,622				5,227
Total			1,034,198				1,070,432				36,234
Music
Recorded Music - Streaming			189,471				208,577				19,106
Recorded Music - Others			100,765				112,137				11,372
Music Publishing			91,531				105,779				14,248
Visual Media and Platform			62,233				105,917				43,684
Total			444,000				532,410				88,410
Pictures
Motion Pictures			150,821				105,281				(45,540	)
Television Productions			100,728				103,352				2,624
Media Networks			101,841				134,663				32,822
Total			353,390				343,296				(10,094	)
Entertainment, Technology & Services
Imaging			184,159				171,828				(12,331	)
Sound			70,747				71,310				563
Network Services			44,164				46,522				2,358
Displays			170,247				136,475				(33,772	)
Other			136,395				124,592				(11,803	)
Total			605,712				550,727				(54,985	)
Imaging & Sensing Solutions			509,769				586,183				76,414
All Other			20,555				19,555				(1,000	)
Corporate			3,600				5,304				1,704
Consolidated total			2,971,224				3,107,907				136,683

Note:

Sony has realigned its product categories in the ET&S segment due to changes in business categories from the first quarter of the fiscal year ending March 31, 2026. In accordance with this realignment, results for the three months ended September 30, 2024 in the table above have been reclassified to conform to the current presentation.

- 15 -

		Yen in millions
		Six months ended September 30
Sales:		2024				2025				Change
Game & Network Services
Digital Software and Add-on Content			991,776				1,060,276				68,500
Network Services			320,125				355,329				35,204
Hardware and Others			566,585				567,637				1,052
Total			1,878,486				1,983,242				104,756
Music
Recorded Music - Streaming			386,134				404,593				18,459
Recorded Music - Others			203,381				217,610				14,229
Music Publishing			188,207				204,464				16,257
Visual Media and Platform			102,004				164,695				62,691
Total			879,726				991,362				111,636
Pictures
Motion Pictures			283,855				212,414				(71,441	)
Television Productions			195,013				224,979				29,966
Media Networks			211,078				232,109				21,031
Total			689,946				669,502				(20,444	)
Entertainment, Technology & Services
Imaging			391,184				359,127				(32,057	)
Sound			144,814				137,181				(7,633	)
Network Services			88,802				92,119				3,317
Displays			307,474				237,738				(69,736	)
Other			267,617				243,239				(24,378	)
Total			1,199,891				1,069,404				(130,487	)
Imaging & Sensing Solutions			843,077				971,647				128,570
All Other			39,488				35,794				(3,694	)
Corporate			5,971				8,571				2,600
Consolidated total			5,536,585				5,729,522				192,937

Note:

Sony has realigned its product categories in the ET&S segment due to changes in business categories from the first quarter of the fiscal year ending March 31, 2026. In accordance with this realignment, results for the six months ended September 30, 2024 in the table above have been reclassified to conform to the current presentation.

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, Imaging includes image and video content creation products and solutions, including interchangeable lens cameras and interchangeable lenses; Sound includes headphones and wireless speakers; Network Service includes internet-related services; Displays includes display products such as LCD and OLED televisions, as well as projectors; Other includes smartphones, home audio products and medical equipment, as well as sports officiating support and content production support services.

- 16 -

Going Concern Assumption

Not Applicable

Accounting Policy and Other Information

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

		Yen in millions
		Three months ended September 30
		2024				2025
Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation			338,496				361,968
Continuing operations			291,756				311,425
Discontinued operations			46,740				50,543

		Thousands of shares
		Three months ended September 30
		2024				2025
Weighted-average shares outstanding for basic EPS computation			6,051,720				5,984,979
Effect of dilutive securities:
Stock options			16,593				26,898
Restricted stock units			4,892				10,803
Weighted-average shares for diluted EPS computation			6,073,205				6,022,680

		Yen in millions
		Six months ended September 30
		2024				2025
Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation			570,134				598,877
Continuing operations			501,909				570,452
Discontinued operations			68,225				28,425

		Thousands of shares
		Six months ended September 30
		2024				2025
Weighted-average shares outstanding for basic EPS computation			6,075,284				5,999,085
Effect of dilutive securities:
Stock options			15,397				26,036
Restricted stock units			4,756				10,667
Weighted-average shares for diluted EPS computation			6,095,437				6,035,788

Note:

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. Basic and diluted EPS are calculated based on the assumption that the stock split was conducted at the beginning of the fiscal year ended March 31, 2025.

- 17 -

(Segmentation)

The G&NS segment includes the production and sales of digital software and add-on content, the network services businesses and the manufacture and sales of home gaming products. 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 Imaging business, the Sound business, the Network Services business and the Displays business. The I&SS segment includes the image sensors business. 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.

At a meeting of the Board held on May 14, 2025, Sony Group Corporation resolved the plan regarding the execution of the Spin-off. In accordance with the resolution, the Financial Services business was classified as a discontinued operation and has been excluded from the reporting segments. Consequently, the figures for comparative periods have been re-presented. For further information on discontinued operations, please refer to “Notes to Condensed Semi-annual Consolidated Financial Statements - Accounting Policy and Other Information (Discontinued operations).”

(Change in presentation)

At a meeting of the Board held on May 14, 2025, Sony Group Corporation resolved the plan regarding the execution of the Spin-off. In connection with the resolution, the Financial Services business was classified as a discontinued operation. Income and losses related to business classified as a discontinued operation are separately presented, net of income taxes, following net income from continuing operations, in the condensed quarterly consolidated statements of income and condensed semi-annual consolidated statements of income, respectively. In accordance with the classification of the Financial Services business as a discontinued operation, the condensed quarterly consolidated statements of income, condensed semi-annual consolidated statements of income, condensed quarterly consolidated statements of comprehensive income, condensed semi-annual consolidated statements of comprehensive income, condensed semi-annual consolidated statements of cash flows, and related notes to the condensed semi-annual consolidated financial statements for comparative periods have been re-presented separately for continuing operations and discontinued operations. In the condensed semi-annual consolidated statements of cash flows, cash flows from operating, investing and financing activities are presented separately for continuing operations and discontinued operations. The balance of cash and cash equivalents at end of the period is presented separately as cash and cash equivalents included in assets held for distribution to owners and cash and cash equivalents in the condensed semi-annual consolidated statements of financial position. For further information on discontinued operations, refer to “Notes to Condensed Semi-annual Consolidated Financial Statements - Accounting Policy and Other Information (Discontinued operations).”

- 18 -

(Discontinued operations)

At a meeting of the Board held on May 14, 2025, Sony Group Corporation resolved to submit a resolution for the execution of the Spin-off, effective October 1, 2025, to the Board in early September 2025. Afterwards, at a meeting of the Board held on September 3, 2025, Sony Group Corporation resolved to execute the Spin-off effective October 1, 2025. Upon execution of the Spin-off effective October 1, 2025, Sony Group Corporation distributed dividends in kind to shareholders appearing in Sony Group Corporation’s register of shareholders as of the record date, September 30, 2025, at the rate of one share of common stock of SFGI (“SFGI share(s)”) to one share of common stock of Sony Group Corporation held by each shareholder. As a result, Sony Group Corporation holds 16.40% of SFGI shares.

In connection with the Board resolution on May 14, 2025 on the plan for the execution of the Spin-off, Sony Group Corporation determined that the distribution of SFGI shares was highly probable and the Financial Services business was classified as a discontinued operation, in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations.” As a result, in the condensed quarterly consolidated statements of income, condensed semi-annual consolidated statements of income, condensed quarterly consolidated statements of comprehensive income, condensed semi-annual consolidated statements of comprehensive income and condensed semi-annual consolidated statements of cash flows; revenue, expenses, other comprehensive income and cash flows of the Financial Services business, among other items, are 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 condensed semi-annual consolidated statements of financial position, assets and liabilities of the Financial Services business were classified as a disposal group held for distribution to owners. Accumulated other comprehensive income directly related to the disposal group was classified as held for distribution to owners.

For the disposal group classified as held for distribution to owners, as of September 30, 2025, its fair value less the incremental costs directly attributable to the distribution of the disposal group, excluding finance costs and income tax expense, is more than the carrying amount, so they are measured using the carrying amount.

At the Board meeting held on September 3, 2025, Sony Group Corporation resolved to distribute a portion of SFGI shares to its shareholders as dividends in kind. In connection with such resolution, Sony Group Corporation reduced retained earnings and recognized dividends payable for the amount equivalent to the fair value of the portion of SFGI shares that was scheduled to be distributed as dividends in kind. The amount of dividends payable as of September 30, 2025 is 955,700 million yen. This amount is included in accrued liabilities for dividends in kind in the condensed semi-annual consolidated statements of financial position.

(1) Disposal group classified as held for distribution to owners

		Yen in millions
		September 30, 2025
Assets classified as held for distribution to owners
Cash and cash equivalents			1,170,068
Investments and advances in the Financial Services business			19,427,349
Others			689,053
Total assets			21,286,470
Liabilities classified as held for distribution to owners
Short-term borrowings			1,860,032
Deposits from customers in the banking business			4,363,218
Long-term debt			684,705
Insurance contract liabilities			12,925,357
Others			351,910
Total liabilities			20,185,222
Accumulated other comprehensive income directly related to the disposal group classified as held for distribution to owners
Changes in equity instruments measured at fair value through other comprehensive income			(3,984	)
Changes in debt instruments measured at fair value through other comprehensive income			(1,640,079	)
Insurance finance income (expenses)			263,298
Others			(1,014	)
Total accumulated other comprehensive income			(1,381,779	)

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(2) Results of discontinued operations

		Yen in millions
		Six months ended September 30
		2024				2025
Financial services revenue			380,661				678,023
Financial services expenses			284,865				640,811
Other income (expenses), net			(75	)			(237	)
Income before income taxes from discontinued operations			95,721				36,975
Income taxes			27,496				8,550
Net income from discontinued operations			68,225				28,425
Other comprehensive income from discontinued operations			20,812				30,969
Items that will not be reclassified to profit or loss
Changes in equity instruments measured at fair value through other comprehensive income			(284	)			963
Remeasurement of defined pension plans			(72	)			(106	)
Items that may be reclassified subsequently to profit or loss
Changes in debt instruments measured at fair value through other comprehensive income			(215,586	)			(293,622	)
Insurance finance income (expenses)			236,830				323,982
Others			(76	)			(248	)
Comprehensive income from discontinued operations			89,037				59,394

Subsequent Events

(Execution of a partial spin-off of the Financial Services business)

Sony Group Corporation executed the Spin-off effective October 1, 2025. Consequently, SFGI, which was a wholly-owned subsidiary of Sony Group Corporation, was deconsolidated and became an affiliate accounted for using the equity method.

As a result of the execution of the Spin-off, approximately 1 trillion 380 billion yen of accumulated other comprehensive income directly related to the disposal group classified as held for distribution to owners at the time of the execution is expected to be transferred to net loss from discontinued operations in the consolidated statements of income.

In addition, as a result of the execution of the Spin-off, SFGI became an affiliate accounted for using the equity method and the fair value of SFGI shares will be recorded as its initial investment cost. At the time of the execution of the Spin-off, since Sony’s equity interest in the net fair value of SFGI’s identifiable assets and liabilities exceeds the cost of the initial recognition of the investment, the excess will be recognized as the share of profit of investments accounted for using the equity method in the third quarter of the fiscal year ending March 31, 2026. On the other hand, since the fair value of SFGI shares as of October 1, 2025 is lower than the equity method carrying amount, Sony expects to record an impairment loss of the same amount as the difference, as the share of loss of investments accounted for using the equity method.

(Establishment of a facility for the repurchase of 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 the Board held on November 11, 2025.

1. Total number of shares for repurchase: 35 million shares (maximum)

2. Total purchase price for repurchase of shares: 100 billion yen (maximum)

3. Period of repurchase: November 12, 2025 to May 14, 2026

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Overview of Operating Results

For the overview of operating results for the second quarter ended September 30, 2025, including the results forecast for the fiscal year ending March 31, 2026, please refer to “Q2 FY2025 Consolidated Financial Results” (the presentation material for the earnings announcement) disclosed on the same date as this document on the TDnet of the TSE and the website of Sony Group Corporation.

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 business;
(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 business;
(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.

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FAQ

What were SONY’s first-half FY2025 results?

Sales were 5,729,522 million yen (+3.5%) and operating income was 768,929 million yen (+20.4%). Basic EPS was 99.83 yen.

What guidance did SONY provide for FY2025 (year ending March 31, 2026)?

For continuing operations, sales 12,000,000 million yen, operating income 1,430,000 million yen, income before taxes 1,460,000 million yen, and net income attributable 1,050,000 million yen.

What did SONY disclose about the SFGI spin-off?

The spin-off was effective October 1, 2025. SFGI became an equity-method affiliate and Sony retained 16.40%.

How will the SFGI spin-off affect SONY’s earnings?

About 1 trillion 380 billion yen of accumulated other comprehensive income is expected to transfer to net loss from discontinued operations, with offsetting equity-method profit and impairment.

Did SONY announce a share repurchase program?

Yes. Up to 35 million shares or 100 billion yen from November 12, 2025 to May 14, 2026.

What dividends did SONY indicate for FY2025?

The total dividend forecast is 25.00 yen per share, including 12.50 yen at second quarter-end and 12.50 yen year-end.

What were SONY’s shares outstanding and treasury stock as of September 30, 2025?

Issued shares were 6,149,810,645 and treasury stock was 172,670,715.