KEY TAKEAWAYS Sony Group said it is increasing the price of its PlayStation 5 in Japan by 19% to around 80,000 yen ($550), in an unexpected move by the tech and entertainment giant. The price hike comes even though the console is four years old and has seen slowing sales, and a revamped console is expected in coming months. Sony reportedly increased the price to account for a "severe external environment." Sony Group (SONY) said it is increasing the price of its PlayStation 5 in Japan by 19% to around 80,00 ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output a ...

Sony on Tuesday announced a price hike for its flagship PlayStation 5 console, even as the device enters its fourth year on the market. The Japanese gaming giant said its suggested retail price for the PS5 is now 79,980 yen ($553), up 19% from the previous price. The hike will take effect from Sept. 2. Sony cited a challenging external environment, including fluctuations in the global economy, as the reason for the price increase. ...

Sony Group Corporation (SONY) recently launched an innovative software – Gaming Virtualizer by 360 Reality Audio – to bring spatial audio to the listeners, allowing gamers to experience more realistic and immersive sound quality using their headphones. "Gaming Virtualizer by 360 Reality Audio" is a plug-in software designed specifically for game developers. This software integrates seamlessly with Wwise, a cross-platform audio middleware developed by Audiokinetic Inc., widely used in game development for cr ...

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Stock Split and Dividend Policy - Sony is implementing a 5-for-1 stock split for its U S-listed ADRs effective October 1 [1] - The company pays dividends semi-annually, with fiscal year 2023 payments of 40 yen ($0 28) and 45 yen ($0 31) per ADR, resulting in a dividend yield of 0 7% [2] - Sony plans to increase its payout ratio from 32% to 40% by fiscal 2026, though specific per-share amounts were not disclosed [3] Share Repurchase Program - Sony has committed to a share repurchase program of up to 250 billion yen ($1 7 billion), although details remain limited [4] Financial Performance and Growth Prospects - Sony anticipates a significant decline in PlayStation 5 sales for the current fiscal year [6] - The company does not currently dominate any major product category [6] - Sony's five-year PEG ratio is nearly 4, indicating a high valuation relative to its growth prospects [6]

Sony will not submit another bid for Paramount Global as "it does not fit well with our strategy," according to the president of the Japan-based PlayStation maker. Hiroki Totoki, who also serves as Sony's chief operating officer and chief financial officer, told investors on an earnings call Wednesday that his firm will not make another proposal for the entertainment conglomerate, which is controlled by Shari Redstone's holding company National Amusements. The media heiress struck a deal last month to sell ...

Sony Group Corporation (SONY) reported first-quarter fiscal 2024 net income per share (on a GAAP basis) of ¥189.43 ($1.22) per share, increasing from ¥175.67 reported in the year-ago quarter. Adjusted net income came in at ¥231.6 billion compared with ¥217.5 billion in the prior-year quarter. Quarterly total revenues grew 2% year over year to ¥3,011.6 billion ($19.3 billion). The upside resulted from healthy growth across G&NS, Music, Pictures, ET&S and I&SS segments, offset by a contraction in the financia ...

Sony Group Corporation (NYSE:SONY) Q1 2024 Earnings Conference Call August 7, 2024 3:00 AM ET Company Participants Hiroki Totoki - President, COO and CFO Naomi Matsuoka - Senior Vice President, In charge of Corporate Planning and Control, Lead of Group DEI, Support for Finance Business and Entertainment Area Sadahiko Hayakawa - Senior Vice President, In charge of Finance and IR Kazuhiro Yamada - Senior Managing Director & CFO, Sony Financial Group Inc. Conference Call Participants Mikio Hirakawa - BofA Secu ...

The Paramount Studios in Los Angeles, California, US on Monday, April 29, 2024. Sony's finance chief on Wednesday said the Japanese technology and media giant will not reconsider a fresh bid for film and TV production group Paramount Global. Sony currently has no plans to submit a revised offer for Paramount, said Hiroki Totoki, the company's chief financial officer. In a response to a question during Sony's fiscal first-quarter earnings presentation, Totoki said that an acquisition of Paramount "does not f ...