God of War RagnarokSony Santa MonicaIt was just announced that Amazon’s God of War TV series has added another confirmed cast member: Boots’ actor Max Palmer is playing Heimdall. That’s after Teresa Palmer was recently revealed to be playing Lady Sif.These are… both characters that are not in the first God of War, but only in its sequel, God of War Ragnarok. Now, players are starting to wonder what’s going on and if Amazon is simply “skipping” the first game, throwing new Kratos, Ryan Hurst, into the second ...

Financial Data and Key Metrics Changes - Consolidated sales for Q3 FY 2023 reached ¥3,747.5 billion, a significant increase of 22% year-on-year, marking a record high for the quarter [5] - Consolidated operating income increased by ¥41.8 billion year-on-year to ¥463.3 billion, the second highest quarterly level [5] - Net income rose by ¥42.4 billion year-on-year to ¥363.9 billion, while adjusted EBITDA increased by ¥75.5 billion to ¥605 billion [5][6] - The nine-month cumulative consolidated operating cash flow, excluding the Financial Services segment, was ¥618.5 billion [6] Business Segment Data and Key Metrics Changes Game & Network Services (G&NS) - Q3 sales increased by 16% year-on-year to ¥1,444.4 billion, driven by higher third-party software sales and favorable foreign exchange rates [8] - Operating income decreased by ¥30.1 billion year-on-year to ¥86.1 billion due to lower profitability of PlayStation 5 hardware [10] - PS5 hardware unit sales reached 8.2 million units in the quarter, falling short of the annual target of 25 million units but achieving record quarterly sales [12] Music Segment - Q3 sales increased by 16% year-on-year to ¥422.1 billion, with operating income rising by ¥13.1 billion to ¥76.1 billion [20] - Streaming revenue grew by 12% for Recorded Music and 17% for Music Publishing [21] Pictures Segment - Q3 sales increased by 10% year-on-year to ¥366.3 billion, with operating income rising significantly by ¥16.2 billion to ¥41.6 billion [26] - The impact of Hollywood strikes is expected to peak next fiscal year, affecting profits [29] Entertainment, Technology & Services Segment - Q3 sales decreased by 2% year-on-year to ¥735.7 billion, with operating income down by ¥3.9 billion to ¥77.2 billion [32] Imaging & Sensing Solutions Segment - Q3 sales increased by 21% year-on-year to ¥505.2 billion, with operating income rising by ¥14.9 billion to ¥99.7 billion, both record highs for the segment [37] Financial Services Segment - Q3 revenue increased by ¥287.3 billion year-on-year to ¥311.7 billion, with operating income rising by ¥30.2 billion to ¥77.3 billion [44] Market Data and Key Metrics Changes - Monthly active users (MAU) for gaming reached a record high of 120 million accounts, with total gameplay time increasing by 13% year-on-year [13] - The cumulative sales of Marvel's Spider-Man 2 exceeded 10 million copies, contributing significantly to profits [14] Company Strategy and Development Direction - The company aims to optimize sales of PS5 hardware while balancing profitability, anticipating a gradual decline in unit sales from the next fiscal year [16] - Focus on producing high-quality first-party software and developing live service games, with no major franchise titles planned for next fiscal year [18] - The company plans to expand opportunities in the music business through strategic acquisitions and collaborations [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving stable revenue growth in the Music segment due to the expansion of the streaming market [22] - The company expects operating income for the next fiscal year to slightly increase in the G&NS segment, despite anticipated declines in first-party software profits [48] - The impact of Hollywood strikes on profits is expected to peak next fiscal year, but the company aims for operating income to exceed the current fiscal year [49] Other Important Information - The company is preparing for a spinoff and listing of shares for Sony Financial Group, Inc. in October 2025 [51] Q&A Session Summary Question: Strategic investment and CapEx for the current mid-range plan - The cumulative CapEx for FY '21 to FY '23 is expected to be about ¥1.9 trillion, with M&A and strategic investments at ¥1.8 trillion [56] Question: Spin-off purpose and relationship with business improvement - The spin-off aims to streamline capital allocation and allow both companies to grow independently [62] Question: Market trends for cameras in different regions - Sales in North America and Europe are performing relatively well, with no significant inventory issues reported [79] Question: Expectations for MAU growth and profitability - MAU growth is attributed to seasonality and successful free-to-play titles, with a profit shift of approximately ¥30 billion expected to the fourth quarter [94] Question: Future profitability and margin improvement strategies - The company aims to balance hardware pricing and profitability while focusing on strong first-party content to enhance margins [109]