Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | SONY CORP |
Entity Central Index Key | 0000313838 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Transition Report | false |
Document Annual Report | true |
Document Shell Company Report | false |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Document Registration Statement | false |
Entity Interactive Data Current | Yes |
Entity File Number | 1-6439 |
Entity Incorporation, State or Country Code | M0 |
Entity Address, Address Line One | 7-1, KONAN 1-CHOME |
Entity Address, City or Town | MINATO-KU |
Entity Address, Postal Zip Code | 108-0075 |
Entity Address, Country | JP |
Document Accounting Standard | U.S. GAAP |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | J. Justin Hill, Senior Vice President, Finance & Investor Relations |
Entity Address, Address Line One | 25 Madison Avenue, 26th Floor |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10010-8601 |
Local Phone Number | 833-6722 |
City Area Code | 212 |
American depositary shares | |
Document Information [Line Items] | |
Trading Symbol | SNE |
Entity Common Stock, Shares Outstanding | 114,612,168 |
Security Exchange Name | NYSE |
Title of 12(b) Security | American Depositary Shares |
Common stock | |
Document Information [Line Items] | |
Trading Symbol | SNE |
Entity Common Stock, Shares Outstanding | 1,220,159,940 |
Security Exchange Name | NYSE |
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets
Consolidated Balance Sheets - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | ¥ 1,512,357 | ¥ 1,470,073 |
Marketable securities (including assets pledged that secured parties are permitted to sell or repledge of 15,437 yen and 17,521 yen in 2019 and 2020) | 1,847,772 | 1,324,538 |
Notes and accounts receivable, trade and contract assets | 1,028,793 | 1,091,242 |
Allowance for doubtful accounts | (25,873) | (25,440) |
Inventories | 589,969 | 653,278 |
Other receivables | 188,106 | 223,620 |
Prepaid expenses and other current assets | 594,021 | 509,301 |
Total current assets | 5,735,145 | 5,246,612 |
Film costs | 427,336 | 409,005 |
Investments and advances: | ||
Affiliated companies | 207,922 | 163,365 |
Securities investments and other (including assets pledged that secured parties are permitted to sell or repledge of 832,984 yen and 930,882 yen in 2019 and 2020) | 12,526,210 | 11,561,286 |
Long-term Investments, Total | 12,734,132 | 11,724,651 |
Property, plant and equipment: | ||
Land | 81,482 | 83,992 |
Buildings | 659,556 | 664,157 |
Machinery and equipment | 1,725,720 | 1,585,382 |
Construction in progress | 76,391 | 39,208 |
Property, Plant and Equipment, Gross, Total | 2,543,149 | 2,372,739 |
Less - Accumulated depreciation | 1,634,505 | 1,595,686 |
Property, plant and equipment, net | 908,644 | 777,053 |
Other assets: | ||
Operating lease right-of-use assets | 359,510 | |
Finance lease right-of-use assets | 33,100 | |
Intangibles, net | 906,310 | 917,966 |
Goodwill | 783,888 | 768,552 |
Deferred insurance acquisition costs | 600,901 | 595,265 |
Deferred income taxes | 210,372 | 202,486 |
Other | 340,005 | 339,996 |
Other noncurrent assets | 3,234,086 | 2,824,265 |
Total assets | 23,039,343 | 20,981,586 |
Current liabilities: | ||
Short-term borrowings | 810,176 | 618,618 |
Current portion of long-term debt | 29,807 | 172,461 |
Current portion of long-term operating lease liabilities | 68,942 | |
Notes and accounts payable, trade | 380,810 | 492,124 |
Accounts payable, other and accrued expenses | 1,630,197 | 1,693,048 |
Accrued income and other taxes | 145,996 | 135,226 |
Deposits from customers in the banking business | 2,440,783 | 2,302,314 |
Other | 733,732 | 666,024 |
Total current liabilities | 6,240,443 | 6,079,815 |
Long-term debt | 634,966 | 568,372 |
Long-term operating lease liabilities | 314,836 | |
Accrued pension and severance costs | 324,655 | 384,232 |
Deferred income taxes | 549,538 | 531,421 |
Future insurance policy benefits and other | 6,246,047 | 5,642,671 |
Policyholders' account in the life insurance business | 3,642,271 | 3,048,202 |
Other | 289,285 | 281,382 |
Total liabilities | 18,242,041 | 16,536,095 |
Redeemable noncontrolling interest | 7,767 | 8,801 |
Commitments and contingent liabilities | ||
Sony Corporation's stockholders' equity: | ||
Common stock, no par value - 2019 - Shares authorized: 3,600,000,000; shares issued: 1,271,230,341 2020 - Shares authorized: 3,600,000,000; shares issued: 1,261,058,781 | 880,214 | 874,291 |
Additional paid-in capital | 1,289,719 | 1,266,874 |
Retained earnings | 2,768,856 | 2,320,586 |
Accumulated other comprehensive income - | ||
Unrealized gains on securities, net | 161,191 | 135,035 |
Unrealized gains (losses) on derivative instruments, net | 1,248 | (19) |
Pension liability adjustment | (235,520) | (310,457) |
Foreign currency translation adjustments | (509,872) | (435,229) |
Debt valuation adjustments | 1,973 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total | (580,980) | (610,670) |
Treasury stock, at cost Common stock 2019 - 20,483,474 shares 2020 - 40,898,841 shares | (232,503) | (104,704) |
Stockholders' Equity Attributable to Parent, Total | 4,125,306 | 3,746,377 |
Noncontrolling interests | 664,229 | 690,313 |
Total equity | 4,789,535 | 4,436,690 |
Total liabilities and equity | ¥ 23,039,343 | ¥ 20,981,586 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Marketable securities current pledged with secured parties | ¥ 17,521 | ¥ 15,437 |
Investment securities pledged with secured parties | ¥ 930,882 | ¥ 832,984 |
Common stock, par value | ||
Common stock, shares authorized | 3,600,000,000 | 3,600,000,000 |
Common stock, shares issued | 1,261,058,781 | 1,271,230,341 |
Treasury stock, common stock shares | 40,898,841 | 20,483,474 |
Consolidated Statements of Inco
Consolidated Statements of Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Sales and operating revenue: | |||
Revenue | ¥ 8,259,885 | ¥ 8,665,687 | ¥ 8,543,982 |
Costs and expenses: | |||
Cost of sales | 4,753,174 | 5,150,750 | 5,188,259 |
Selling, general and administrative | 1,502,625 | 1,576,825 | 1,583,197 |
Financial services expenses | 1,171,875 | 1,112,446 | 1,042,163 |
Other operating (income) expense, net | (3,611) | (71,568) | 4,072 |
Costs and Expenses, Total | 7,424,063 | 7,768,453 | 7,817,691 |
Equity in net income (loss) of affiliated companies | 9,637 | (2,999) | 8,569 |
Operating income | 845,459 | 894,235 | 734,860 |
Other income: | |||
Interest and dividends | 19,278 | 21,618 | 19,784 |
Gain on sale of securities investments, net | 1,517 | ||
Gain on equity securities, net | 118,677 | ||
Other | 2,671 | 4,440 | 2,427 |
Other income, Total | 21,949 | 144,735 | 23,728 |
Other expenses: | |||
Interest | 11,090 | 12,467 | 13,566 |
Loss on devaluation of securities investments | 4,955 | ||
Loss on equity securities, net | 20,180 | ||
Foreign exchange loss, net | 26,789 | 11,279 | 30,634 |
Loss on pension plan amendment | 6,358 | ||
Other | 3,541 | 3,576 | 10,384 |
Other expenses, Total | 67,958 | 27,322 | 59,539 |
Income before income taxes | 799,450 | 1,011,648 | 699,049 |
Income taxes: | |||
Current | 172,391 | 166,748 | 127,685 |
Deferred | 4,799 | (121,650) | 24,085 |
Income tax expense, Total | 177,190 | 45,098 | 151,770 |
Net income | 622,260 | 966,550 | 547,279 |
Less - Net income attributable to noncontrolling interests | 40,069 | 50,279 | 56,485 |
Net income attributable to Sony Corporation's stockholders | ¥ 582,191 | ¥ 916,271 | ¥ 490,794 |
Net income attributable to Sony Corporation's stockholders | |||
- Basic | ¥ 471.64 | ¥ 723.41 | ¥ 388.32 |
- Diluted | ¥ 461.23 | ¥ 707.74 | ¥ 379.75 |
Product and Service | |||
Sales and operating revenue: | |||
Revenue | ¥ 6,856,090 | ¥ 7,306,235 | ¥ 7,231,613 |
Financial services revenue | |||
Sales and operating revenue: | |||
Revenue | 1,299,847 | 1,274,708 | 1,221,235 |
Other Operating Revenue | |||
Sales and operating revenue: | |||
Revenue | ¥ 103,948 | ¥ 84,744 | ¥ 91,134 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | ¥ 622,260 | ¥ 966,550 | ¥ 547,279 |
Other comprehensive income, net of tax - | |||
Unrealized gains on securities | 40,390 | 33,285 | 1,070 |
Unrealized gains (losses) on derivative instruments | 1,267 | 1,223 | (1,184) |
Pension liability adjustment | 74,971 | (13,960) | 12,390 |
Foreign currency translation adjustments | (75,888) | 8,444 | (6,335) |
Debt valuation adjustments | 3,032 | ||
Total comprehensive income | 666,032 | 995,542 | 553,220 |
Less - Comprehensive income attributable to noncontrolling interests | 54,151 | 57,669 | 60,403 |
Comprehensive income attributable to Sony Corporation's stockholders | ¥ 611,881 | ¥ 937,873 | ¥ 492,817 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | |||
Net income | ¥ 622,260 | ¥ 966,550 | ¥ 547,279 |
Adjustments to reconcile net income to net cash provided by operating activities - | |||
Depreciation and amortization, including amortization of deferred insurance acquisition costs and contract costs | 416,642 | 374,026 | 361,444 |
Amortization of film costs | 329,809 | 348,493 | 359,274 |
Accrual for pension and severance costs, less payments | 8,948 | (33,631) | 4,113 |
Other operating (income) expense, net | (3,611) | (71,568) | 4,072 |
(Gain) loss on securities investments, net (other than financial services business) | 20,177 | (118,630) | 3,438 |
(Gain) loss on marketable securities and securities investments held in the financial services business, net | 93,088 | (66,383) | (47,119) |
Deferred income taxes | 4,799 | (121,650) | 24,085 |
Equity in net (income) loss of affiliated companies, net of dividends | (5,114) | 7,947 | (2,956) |
Changes in assets and liabilities: | |||
(Increase) decrease in notes and accounts receivable, trade and contract assets | 62,654 | 1,144 | (80,004) |
(Increase) decrease in inventories | 40,315 | 30,455 | (51,508) |
Increase in film costs | (361,194) | (410,994) | (362,496) |
Increase (decrease) in notes and accounts payable, trade | (91,435) | 18,534 | (87,939) |
Increase (decrease) in accrued income and other taxes | (40,144) | (20,039) | 29,181 |
Increase in future insurance policy benefits and other | 520,683 | 544,179 | 495,419 |
Increase in deferred insurance acquisition costs | (99,433) | (88,807) | (86,779) |
Increase in marketable securities held in the life insurance business | (124,270) | (64,034) | (89,797) |
(Increase) decrease in other current assets | (37,286) | 16,576 | 3,776 |
Increase (decrease) in other current liabilities | (27,083) | 56,723 | 151,805 |
Other | 19,940 | (110,153) | 78,683 |
Net cash provided by operating activities | 1,349,745 | 1,258,738 | 1,253,971 |
Cash flows from investing activities: | |||
Payments for purchases of fixed assets | (439,761) | (312,644) | (262,989) |
Proceeds from sales of fixed assets | 18,758 | 17,585 | 60,599 |
Payment for EMI Music Publishing acquisition, net of cash acquired | (244,197) | ||
Proceeds from sales of businesses | 12,816 | 44,624 | |
Other | (14,729) | (30,821) | (12,046) |
Net cash used in investing activities | (1,352,278) | (1,307,445) | (823,068) |
Cash flows from financing activities: | |||
Proceeds from issuance of long-term debt | 118,447 | 94,351 | 125,092 |
Payments of long-term debt | (198,055) | (382,671) | (44,561) |
Increase in short-term borrowings, net | 193,332 | 123,979 | 35,145 |
Increase in deposits from customers in the financial services business, net | 258,720 | 246,945 | 169,479 |
Dividends paid | (49,574) | (38,067) | (28,490) |
Payments for purchase of treasury stock | (200,211) | (100,177) | (198) |
Other | (17,107) | (35,203) | (10,011) |
Net cash provided by (used in) financing activities | 65,658 | (122,884) | 246,456 |
Effect of exchange rate changes on cash and cash equivalents, including restricted | (21,643) | 52,465 | (53,044) |
Net increase (decrease) in cash and cash equivalents, including restricted | 41,482 | (119,126) | 624,315 |
Cash and cash equivalents, including restricted, at beginning of the fiscal year | 1,473,813 | 1,592,939 | 968,624 |
Cash and cash equivalents, including restricted, at end of the fiscal year | 1,515,295 | 1,473,813 | 1,592,939 |
Less - Restricted cash and cash equivalents, included in other current assets and other assets | 2,938 | 3,740 | 6,610 |
Cash and cash equivalents at end of the fiscal year | 1,512,357 | 1,470,073 | 1,586,329 |
Cash paid during the fiscal year for - | |||
Income taxes | 216,922 | 210,499 | 101,092 |
Interest | 10,000 | 10,882 | 12,169 |
Non-cash investing and financing activities - | |||
Obtaining assets by entering into finance leases | 6,478 | 32,541 | 21,762 |
Financial Services Business | |||
Cash flows from investing activities: | |||
Payments for investments and advances | (1,319,062) | (1,078,250) | (963,210) |
Proceeds from sales or return of investments and collections of advances | 343,740 | 309,498 | 317,159 |
Other than financial service business | |||
Cash flows from investing activities: | |||
Payments for investments and advances | (48,853) | (53,525) | (13,801) |
Proceeds from sales or return of investments and collections of advances | 14,456 | 2,442 | ¥ 6,596 |
Nile Acquisition LLC | |||
Cash flows from financing activities: | |||
Payment for purchase of noncontrolling interest | (32,041) | ||
Spotify Technology SA | |||
Cash flows from investing activities: | |||
Proceeds to sale of shares | ¥ 82,467 | ||
Olympus Corporation | |||
Cash flows from investing activities: | |||
Proceeds to sale of shares | 80,357 | ||
Game Show Network LLC | |||
Cash flows from financing activities: | |||
Payment for purchase of noncontrolling interest | ¥ (39,894) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - JPY (¥) ¥ in Millions | Total | Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income | Treasury stock, at cost | Sony Corporation's stockholders' equity | Noncontrolling interests |
Beginning Balance at Mar. 31, 2017 | ¥ 3,135,422 | ¥ 860,645 | ¥ 1,275,337 | ¥ 984,368 | ¥ (618,769) | ¥ (4,335) | ¥ 2,497,246 | ¥ 638,176 |
Issuance of new shares | 976 | 488 | 488 | 976 | ||||
Exercise of stock acquisition rights | 9,065 | 4,533 | 4,532 | 9,065 | ||||
Conversion of convertible bonds | 24 | 12 | 12 | 24 | ||||
Stock-based compensation | 3,160 | 3,160 | 3,160 | |||||
Comprehensive income: | ||||||||
Net income | 547,279 | 490,794 | 490,794 | 56,485 | ||||
Other comprehensive income, net of tax - | ||||||||
Unrealized gains (losses) on securities | 1,070 | (444) | (444) | 1,514 | ||||
Unrealized gains (losses) on derivative instruments | (1,184) | (1,184) | (1,184) | |||||
Pension liability adjustment | 12,390 | 12,292 | 12,292 | 98 | ||||
Foreign currency translation adjustments | (6,335) | (8,641) | (8,641) | 2,306 | ||||
Total comprehensive income | 553,220 | 492,817 | 60,403 | |||||
Stock issue costs, net of tax | (879) | (879) | (879) | |||||
Dividends declared | (49,136) | (34,775) | (34,775) | (14,361) | ||||
Purchase of treasury stock | (199) | (199) | (199) | |||||
Reissuance of treasury stock | 4 | 0 | 4 | 4 | ||||
Transactions with noncontrolling interests shareholders and other | (4,500) | (73) | (73) | (4,427) | ||||
Ending Balance at Mar. 31, 2018 | 3,647,157 | 865,678 | 1,282,577 | 1,440,387 | (616,746) | (4,530) | 2,967,366 | 679,791 |
Cumulative effect of newly adopted ASUs | (2,118) | 7,976 | (15,526) | (7,550) | 5,432 | |||
Issuance of new shares | 862 | 431 | 431 | 862 | ||||
Exercise of stock acquisition rights | 16,348 | 8,174 | 8,174 | 16,348 | ||||
Conversion of convertible bonds | 16 | 8 | 8 | 16 | ||||
Stock-based compensation | 1,159 | 1,159 | 1,159 | |||||
Comprehensive income: | ||||||||
Net income | 966,550 | 916,271 | 916,271 | 50,279 | ||||
Other comprehensive income, net of tax - | ||||||||
Unrealized gains (losses) on securities | 33,285 | 24,370 | 24,370 | 8,915 | ||||
Unrealized gains (losses) on derivative instruments | 1,223 | 1,223 | 1,223 | |||||
Pension liability adjustment | (13,960) | (14,013) | (14,013) | 53 | ||||
Foreign currency translation adjustments | 8,444 | 10,022 | 10,022 | (1,578) | ||||
Total comprehensive income | 995,542 | 937,873 | 57,669 | |||||
Stock issue costs, net of tax | (147) | (147) | (147) | |||||
Dividends declared | (73,009) | (44,048) | (44,048) | (28,961) | ||||
Purchase of treasury stock | (100,177) | (100,177) | (100,177) | |||||
Reissuance of treasury stock | 4 | 1 | 3 | 4 | ||||
Transactions with noncontrolling interests shareholders and other | (48,947) | (25,329) | (25,329) | (23,618) | ||||
Ending Balance at Mar. 31, 2019 | 4,436,690 | 874,291 | 1,266,874 | 2,320,586 | (610,670) | (104,704) | 3,746,377 | 690,313 |
Cumulative effect of ASU 2016-02 | (7,472) | (7,472) | (7,472) | |||||
Issuance of new shares | 1,058 | 529 | 529 | 1,058 | ||||
Exercise of stock acquisition rights | 10,359 | 5,179 | 5,180 | 10,359 | ||||
Conversion of convertible bonds | 430 | 215 | 215 | 430 | ||||
Stock-based compensation | 1,980 | 1,980 | 1,980 | |||||
Comprehensive income: | ||||||||
Net income | 622,260 | 582,191 | 582,191 | 40,069 | ||||
Other comprehensive income, net of tax - | ||||||||
Unrealized gains (losses) on securities | 40,390 | 26,156 | 26,156 | 14,234 | ||||
Unrealized gains (losses) on derivative instruments | 1,267 | 1,267 | 1,267 | |||||
Pension liability adjustment | 74,971 | 74,937 | 74,937 | 34 | ||||
Foreign currency translation adjustments | (75,888) | (74,643) | (74,643) | (1,245) | ||||
Debt valuation adjustments | 3,032 | 1,973 | 1,973 | 1,059 | ||||
Total comprehensive income | 666,032 | 611,881 | 54,151 | |||||
Stock issue costs, net of tax | (80) | (80) | (80) | |||||
Dividends declared | (80,996) | (55,111) | (55,111) | (25,885) | ||||
Purchase of treasury stock | (200,211) | (200,211) | (200,211) | |||||
Reissuance of treasury stock | 2 | 0 | 2 | 2 | ||||
Cancellation of treasury stock | (1,072) | (71,338) | 72,410 | |||||
Transactions with noncontrolling interests shareholders and other | (38,257) | 16,093 | 16,093 | (54,350) | ||||
Ending Balance at Mar. 31, 2020 | ¥ 4,789,535 | ¥ 880,214 | ¥ 1,289,719 | ¥ 2,768,856 | ¥ (580,980) | ¥ (232,503) | ¥ 4,125,306 | ¥ 664,229 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - ¥ / shares | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends declared, per share | ¥ 45 | ¥ 35 | ¥ 27.50 |
Nature of operations
Nature of operations | 12 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of operations | 1 Nature of operations Sony Corporation and its consolidated subsidiaries (hereinafter collectively referred to as “Sony”) are engaged in the development, design, production, manufacture, offer and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets such as network services, game hardware and software, televisions, audio and video recorders and players, still and video cameras, smartphones, and image sensors. Sony’s primary manufacturing facilities are located in Asia including Japan. Sony also utilizes third-party contract manufacturers for certain products. Sony’s products and services are marketed throughout the world by sales subsidiaries and unaffiliated distributors as well as direct sales and offers via the internet. Sony is engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as production and distribution of animation titles, including game applications based on the animation titles. Sony is also engaged in the production, acquisition and distribution of motion pictures and television programming and the operation of television and digital networks. Further, Sony is also engaged in various financial services businesses, including life and non-life |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 2 Summary of significant accounting policies The accompanying consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform with U.S. GAAP. These adjustments were not recorded in the statutory books and records as Sony Corporation and its subsidiaries in Japan maintain their records and prepare their statutory financial statements in accordance with accounting principles generally accepted in Japan, while its foreign subsidiaries maintain their records and prepare their financial statements in conformity with accounting principles generally accepted in the countries of their domicile. (1) Significant accounting policies Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of Sony Corporation and its majority-owned subsidiary companies, general partnerships and other entities in which Sony has a controlling interest, and variable interest entities (“VIEs”) for which Sony is the primary beneficiary. All intercompany transactions and accounts are eliminated. Investments in business entities in which Sony does not have control, but has the ability to exercise significant influence over operating and financial policies, generally through 20-50% 3-5% On occasion, a consolidated subsidiary or an affiliated company accounted for by the equity method may issue its shares to third parties in either a public or private offering or upon conversion of convertible debt to common stock at amounts per share in excess of or less than Sony’s average per share carrying value. With respect to such transactions, the resulting gains or losses arising from the change in ownership interest are recorded in earnings within the fiscal year in which the change in interest transactions occurs. Gains or losses that result from a loss of a controlling financial interest in a subsidiary are recorded in earnings along with fair value remeasurement gains or losses on any retained investment in the entity, while a change in interest in The excess of the cost over the underlying net equity of investments in consolidated subsidiaries and affiliated companies accounted for on an equity basis is allocated to identifiable tangible and intangible assets and liabilities based on fair values at the date of acquisition. The unassigned residual value of the excess of the cost over Sony’s underlying net equity is recognized as goodwill as a component of the investment balance. Use of estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining the valuation of investment securities, valuation of inventories, fair values of long-lived assets, fair values of goodwill and other intangible assets, fair values of assets and liabilities assumed in business combinations, product warranty liability, pension and severance plans, valuation of deferred tax assets, uncertain tax positions, film costs, and insurance related liabilities. Actual results could significantly differ from those estimates. The timing and extent to which the spread of COVID-19 may negatively impact Sony’s business will depend on future developments, which are highly uncertain. This uncertainty could result in greater variability in accounting estimates and assumptions, including, but not limited to, those used in reviewing goodwill and long-lived assets for impairment and the valuation of deferred tax assets. Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at appropriate fiscal year end exchange rates and all income and expense accounts are translated at exchange rates that approximate those rates prevailing at the time of the transactions. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income. Upon remeasurement of a previously held equity interest in accordance with the accounting guidance for business combinations achieved in stages, accumulated translation adjustments, if any, are included in earnings. Monetary assets and liabilities denominated in foreign currencies are translated at appropriate fiscal year end exchange rates and the resulting translation gains or losses are recognized into income. Cash, cash equivalents and restricted cash - Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. Sony includes restricted cash within cash and cash equivalents in the statement of cash flows. Marketable debt and equity securities Debt securities designated as available-for-sale unrealized held-to-maturity available-for-sale held-to-maturity Sony regularly evaluates its investment portfolio to identify other-than-temporary impairments of individual debt securities. Factors that are considered by Sony in determining whether an other-than-temporary decline in value has occurred include: the length of time and extent to which the market value of the security has been less than its original cost, the financial condition, operating results, business plans and estimated future cash flows of the issuer of the security, other specific factors affecting the market value, deterioration of the credit condition of the issuer, sovereign risk, and whether or not Sony is able to retain the investment for a period of time sufficient to allow for the anticipated recovery in market value. In evaluating the factors for debt securities designated as available-for-sale, is temporary in nature due to the existence of other factors which overcome the duration or magnitude of the decline. On the other hand, there may be cases where impairment losses are recognized when the decline in the fair value of the security is not more than 20 percent or such decline has not existed for an extended period of time, as a result of considering specific factors which may indicate that the decline in the fair value is other-than-temporary. When an other-than-temporary impairment of a held-to-maturity Equity securities that do not have readily determinable fair values - Equity securities that do not have readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. If the value of equity securities that do not have readily determinable fair values is estimated to have declined and such decline is judged to be other-than-temporary, Sony recognizes the impairment of the investment and the carrying value is reduced to its fair value. Determination of impairment is based on the consideration of several factors, including operating results, business plans and estimated future cash flows. Fair value is determined through the use of various methodologies such as discounted cash flows, valuation of recent financings and comparable valuations of similar companies. Allowance for doubtful accounts - Sony maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivables. Sony reviews accounts receivable by amounts due from customers which are past due to identify specific customers with known disputes or collectability issues. In determining the amount of the reserve, Sony makes judgments about the creditworthiness of customers based on past collection experience and ongoing credit risk evaluations. Inventories - Inventories in the Game & Network Services (“G&NS”), Music, Electronics Products & Solutions (“EP&S”) and Imaging & Sensing Solutions (“I&SS”) segments as well as non-film Other receivables - Other receivables include receivables which relate to arrangements with certain component manufacturers whereby Sony procures goods, including product components, for these component manufacturers and is reimbursed for the related purchases. No revenue or profit is recognized on these transfers. Sony will repurchase the inventory at a later date from the component manufacturers as either finished goods inventory or as partially assembled product. Film costs - Film costs include direct production costs, production overhead and acquisition costs for both motion picture and television productions and are stated at the lower of unamortized cost or estimated fair value and classified as noncurrent assets. Film costs are amortized, and the estimated liabilities for residuals and participations are accrued using an individual-film-forecast method based on the ratio of current period actual revenues to the estimated remaining total revenues. Film costs also include broadcasting rights, which are recognized when the license period begins and the program is available for use, and consist of acquired programming to be aired on Sony’s worldwide channel network. Broadcasting rights are stated at the lower of unamortized cost or net realizable value, classified as either current or noncurrent assets based on timing of expected use. Broadcasting rights are amortized based on estimated usage or on a straight-line basis over the useful life, as appropriate, although broadcasting rights licensed under multi-year live-event sports programming agreements are generally amortized based on the ratio of the current period’s actual advertising revenue and an allocation of subscription fee revenue to the estimated total remaining attributable revenues. Estimates used in calculating the fair value of film costs and the net realizable value of broadcasting rights are based upon assumptions about future demand and market conditions and are reviewed on a periodic basis. Property, plant and equipment and depreciation - Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method. Useful lives for depreciation range from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment. Significant renewals and additions are capitalized at cost. Maintenance and repairs, and minor renewals and betterments are charged to income as incurred. Leases - When entering into a contract, Sony determines whether an arrangement contains a lease at its inception. An arrangement contains a lease if it conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease right-of-use right-of-use Right-of-use non-lease . As of April 1, 2019, Sony adopted Accounting Standards Update (“ASU”) 2016-02, which amends leasing guidance, on a modified retrospective basis with no restatement of comparative periods. Prior to the adoption of ASU 2016-02 on April 1, 2019, right-of-use assets and lease liabilities for operating leases were not recognized in Sony’s consolidated balance sheet. For the detailed effect of the adoption of the new standard on Sony’s results of operations and financial position, refer to Note 2 (2) Recently adopted accounting pronouncements. Goodwill and other intangible assets - Goodwill and indefinite lived intangible assets are tested annually for impairment during the fourth quarter of the fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. Such an event or change in circumstances would include unfavorable variances from established business plans, significant changes in forecasted results or volatility inherent to external markets and industries, which are periodically reviewed by Sony’s management. In the fourth quarter of the fiscal year ended March 31, 2020, Sony elected not to perform an optional qualitative assessment of goodwill and instead proceeded directly to a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. Reporting units are Sony’s operating segments or one level below the operating segments. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the total amount of goodwill allocated to the reporting unit. Indefinite lived intangible assets are tested for impairment by comparing the fair value of the intangible asset with its carrying value, and if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of a reporting unit or indefinite lived intangible asset is generally determined using a discounted cash flow analysis. This approach uses significant estimates and assumptions, including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates, earnings multiples, the determination of appropriate comparable entities and the determination of whether a premium or discount should be applied to comparables. Consideration is also given to Sony’s market capitalization in relation to the sum of the calculated fair values of the reporting units, including reporting units with no goodwill, and taking into account corporate level assets and liabilities not assigned to individual reporting units as well as a reasonable control premium. The assumptions used for projected future cash flows and the timing of such cash flows are based on the forecast and mid-range Management believes that the assumptions used to estimate the fair value in the goodwill impairment tests are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, Sony’s estimates and assumptions may evolve as conditions change. Actual results could differ from those estimates. As a result, changes in estimates resulting in lower than currently anticipated cash flows and fair values due to unforeseen changes in assumptions could negatively affect the valuations, which may result in Sony recognizing impairment charges for goodwill and indefinite lived intangible assets in the future. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Intangible assets with finite useful lives mainly consist of patent rights, know-how, internal-use know-how, internal-use Capitalized software - The costs related to establishing the technological feasibility of software to be sold, leased or otherwise marketed are expensed as incurred as a part of research and development in cost of sales. Costs that are incurred to produce the finished product after technological feasibility is established are capitalized and amortized to cost of sales over the estimated economic life, which is generally three years. The technological feasibility of game software is established when the product master is completed. Consideration to capitalize game software development costs before this point is limited to the development costs of games for which technological feasibility can be proven at an earlier stage. At each balance sheet date, Sony performs reviews to ensure that unamortized capitalized software costs remain recoverable from future profits of the related software products. The costs incurred for internal-use Deferred insurance acquisition costs - Costs that vary with and are directly related to the acquisition or renewal of insurance policies are deferred as long as they are recoverable. The deferred insurance acquisition costs include such items as commissions, medical examination costs and inspection report fees, and are subject to recoverability testing at least annually to ensure that the capitalized amounts do not exceed the present value of anticipated gross profits or premiums less benefits and maintenance expenses, as applicable. The deferred insurance acquisition costs for traditional life insurance contracts are amortized over the premium-paying period of the related insurance policies using assumptions consistent with those used in computing policy reserves. The deferred insurance acquisition costs for non-traditional Product warranty - Sony provides for the estimated cost of product warranties at the time revenue is recognized. The product warranty is calculated based upon product sales, estimated probability of failure and estimated cost per claim. The variables used in the calculation of the provision are reviewed on a periodic basis. Future insurance policy benefits - Liabilities for future insurance policy benefits are primarily comprised of the present value of estimated future payments to policyholders. These liabilities are computed by the net level premium method based upon the assumptions as to future investment yield, morbidity, mortality, withdrawals and other factors. These assumptions are reviewed on a periodic basis. Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. As discussed below in “Fair value measurement,” Sony elected the fair value option for certain of these liabilities for future insurance policy benefits. Policyholders’ account in the life insurance business - Liabilities for policyholders’ account in the life insurance business represent the contract value that has accrued to the benefit of the policyholders as of the balance sheet date. This liability is generally equal to the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balances. Liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. As discussed below in “Fair value measurement,” Sony elected the fair value option for certain of these liabilities for policyholders’ account in the life insurance business. Impairment of long-lived assets - Sony reviews the recoverability of the carrying value of its long-lived assets held and used, other than goodwill and intangible assets with indefinite lives, and assets to be disposed of, whenever events or changes in circumstances indicate that the individual carrying amount of an asset or asset group may not be recoverable. Long-lived assets to be held and used are reviewed for impairment by comparing the carrying value of the asset or asset group with their estimated undiscounted future cash flows. If the cash flows are determined to be less than the carrying value of the asset or asset group, an impairment loss would be recognized during the period for the amount by which the carrying value of the asset or asset group exceeds estimated fair value. Long-lived assets that are to be disposed of other than by sale are considered held and used until they are disposed of. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less cost to sell and are not depreciated. Fair value is determined using the present value of estimated net cash flows or comparable market values. This approach uses significant estimates and assumptions including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates applied to determine terminal values, determination of appropriate market comparables and the determination of whether a premium or discount should be applied to comparables. Management believes that the estimates of future cash flows and fair values are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, Sony’s estimates and assumptions may evolve as conditions change. Actual results could differ from those estimates. As a result, changes in estimates resulting in lower future cash flows and fair values due to unforeseen changes in Sony’s businesses or assumptions could negatively affect the valuations of long-lived assets. Fair value measurement - Sony measures fair value as an exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Sony has elected the fair value option in the banking business for certain foreign securities. The election was made to mitigate accounting mismatches related to fluctuations of foreign exchange rates by allowing the gains and losses on the translation of these securities to be included in current earnings. Sony has also elected the fair value option for certain future insurance policy benefits and policyholders’ account in the life insurance business which are not normally measured at fair value. The election was made to mitigate accounting mismatches related to the changes in the fair value between liabilities for those future insurance policy benefits and policyholders’ account due to changes in the minimum guarantee risk of contracts of variable annuities with minimum guarantee benefits, and the underlying investment managed for policyholders and derivatives. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the certain subsidiary’s current credit spreads, and are recognized in other comprehensive income, net of tax. The accounting guidance for fair value measurements specifies a hierarchy of inputs to valuation techniques based on the extent to which inputs used in measuring fair value are observable in the market. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect Sony’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Observable market data is used if such data is available without undue cost and effort. Each fair value measurement is reported in one of three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 — Inputs are unadjusted quoted prices for identical assets and liabilities in active markets. Level 2 — Inputs are based on observable inputs other than level 1 prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 — One or more significant inputs are unobservable. When available, Sony uses unadjusted quoted market prices in active markets to measure fair value and classifies such items within level 1. If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency rates and option volatilities. Items valued using internally generated models are classified according to the lowest level input that is significant to the valuation. For certain financial assets and liabilities, Sony determines fair value using third-party information such as indicative quotes from dealers and quantitative input from investment advisors following Sony’s established valuation procedures including validation against internally developed prices. Additionally, Sony considers both counterparty credit risk and Sony’s own creditworthiness in determining fair value. Sony attempts to mitigate credit risk to third parties by entering into netting agreements and actively monitoring the creditworthiness of counterparties and its exposure to credit risk through the use of credit limits and by selecting major international banks and financial institutions as counterparties. Transfers between levels are deemed to have occurred at the beginning of the interim period in which the transfers occur. Derivative financial instruments - All derivatives are recognized as either assets or liabilities in the consolidated balance sheets at fair value on a gross basis. Changes in the fair value of derivative financial instruments are either recognized periodically in income or stockholders’ equity (as a component of accumulated other comprehensive income), depending on whether the derivative financial instrument qualifies as a hedge and the derivative is being used to hedge changes in fair value or cash flows. The accounting guidance for hybrid financial instruments permits an entity to elect fair value remeasurement for any hybrid financial instrument if the hybrid instrument contains an embedded derivative that would otherwise be required to be bifurcated and accounted for separately under accounting guidance for derivative instruments and hedging activities. The election to measure the hybrid instrument at fair value is made on an instrument-by-instrument In accordance with accounting guidance for derivative instruments and hedging activities, various derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Changes in the fair value of derivatives designated as fair value hedges for recognized assets or liabilities or unrecognized firm commitments are recognized in earnings as offsets to changes in the fair value of the related hedged assets or liabilities. Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the Derivatives not designated as hedges Changes in the fair value of derivatives that are not designated as hedges are recognized immediately in earnings. Assessment of hedges When applying hedge accounting, Sony formally documents all hedging relationships between the derivatives designated as hedges and the hedged items, as well as its risk management objectives and strategies for undertaking various hedging activities. Sony links all hedges that are designated as fair value or cash flow hedges to specific assets or liabilities on the consolidated balance sheets or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an on-going Stock-based compensation - Sony accounts for stock-based compensation using the fair value - Revenue recognition - Sony recognizes revenue in an amount that reflects the consideration Sony expects in exchange for satisfying performance obligations to transfer the goods or services promised in contracts with customers. This is in accordance with the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) Sony satisfies a performance obligation. Sony owns a variety of intellectual property throughout segments and recognizes revenue through the licensing of such intellectual property. Sony has both functional and symbolic intellectual property. The licensing of functional intellectual property grants a customer a right to use Sony’s intellectual property as it exists at a point in time, and Sony satisfies its performance obligation at the point in time when the customer obtains control and is entitled to benefit from the license. The licensing of symbolic intellectual property grants a customer a right to access Sony’s intellectual property over time, and Sony satisfies its performance obligation over the license period as Sony maintains the intellectual property. Incremental costs of obtaining a contract and costs to fulfill a contract are recognized as assets when Sony expects to recover these costs. The incremental costs of obtaining a contract are those costs that would not have been incurred if the contract had not been obtained. Costs to fulfill a contract are those costs that are directly related to a contract or to an anticipated contract and that generate or enhance resources for Sony to satisfy its performance obligations. Sony applies a practical expedient and recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Performance obligations in contracts for the EP&S and I&SS segments are primarily to deliver various kinds of electronic equipment, instruments and devices to customers. Revenues from these performance obligations are generally recognized when a promised good is delivered to a customer. However, if the sales contract contains a customer acceptance provision, then revenues are recognized when the customer accepts the promised good or when a deemed acceptance occurs by the lapse of time. Revenues are also recognized over time, primarily from the provision of internet broadband network services to subscribers over the subscription period. Revenues are recognized net of anticipated returns and sales incentives. Within the G&NS segment, revenues from hardware, peripherals and software discs are recognized when performance obligations are satisfied by transferring control to the retailer/distributor, net of anticipated returns, sales incentives and cooperative advertising obligations. Revenues from platform licensing to publishers are recognized when physical software discs are delivered. Revenues from digital game content, which is licensed functional intellectual property, are recognized when the digital content is made available for use by the licensee via an online platform, net of anticipated sales incentives and credit card chargebacks. Revenues from digital game content involving multiple performance obligations, such as obligations to make content available on future dates, are allocated to each performance obligation based on the relative standalone selling prices that are observable in the market or Sony’s best estimate. Revenues from subscription fees for digital subscription services are recognized over the subscription period. Within the Music segment, Sony licenses intellectual property that transfer to a customer either a right to use Sony’s intellectual property as it exists at the point in time in which the license is granted, or a right to access Sony’s intellectual property as it exists throughout the license period. Revenues are recognized when the customer has the right to use or access the intellectual property and obtains control of the use or access of that license. Digital revenues include revenues from contracts with digital streaming services typically recognized as a single performance obligation, which is ongoing access to intellectual property in an evolving library of content over the contract term, predicated on: (1) the business practice and contractual ability to remove specific content without a requirement to replace the content and without impact to minimum royalty guarantees and (2) the contracts not containing a specific listing of content subject to the license. For these contracts, revenues are recognized on the basis of sales and usage royalties, except where there is an amount of a minimum royalty guarantee that is not expected to be recouped, or a fixed fee, which is recognized on a straight-line basis over |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Inventories | 3. Inventories Inventories are comprised of the following: Yen in millions March 31 2019 2020 Finished products 407,295 345,231 Work in process 154,178 149,969 Raw materials, purchased components and supplies 91,805 94,769 Inventories 653,278 589,969 |
Film costs
Film costs | 12 Months Ended |
Mar. 31, 2020 | |
Other Industries [Abstract] | |
Film costs | 4. Film costs Film costs are comprised of the following: Yen in millions March 31 2019 2020 Motion picture productions: Released 87,158 99,482 Completed and not released 3,189 18,776 In production and development 130,736 67,199 Television productions: Released 144,316 186,344 In production and development 9,147 25,093 Broadcasting rights 70,401 61,959 Less: current portion included in inventories (35,942 ) (31,517 ) Film costs 409,005 427,336 Sony estimates that approximately 92% of the unamortized film costs of released motion picture and television productions at March 31, 2020 will be amortized within the next three years. Approximately 217 billion yen of completed film costs are expected to be amortized during the next twelve months. Approximately 163 billion yen of accrued participation liabilities included in accounts payable, other and accrued expenses are expected to be paid during the next twelve months. |
Investments in affiliated compa
Investments in affiliated companies | 12 Months Ended |
Mar. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in affiliated companies | 5. Investments in affiliated companies The summarized combined financial information that is based on information provided by the equity investees including information for significant equity affiliates and the reconciliation of such information to the consolidated financial statements is shown below: Balance Sheets Yen in millions March 31 2019 2020 Current assets 355,320 389,195 Noncurrent assets 608,626 164,852 Current liabilities 188,905 194,219 Noncurrent liabilities and noncontrolling interests 584,714 60,469 Percentage of ownership in equity investees 20%-50 % 20%-50 % Statements of Income Yen in millions Fiscal year ended March 31 2018 2019 2020 Net revenues 468,933 390,457 387,678 Operating income 56,729 53,920 58,431 Net income attributable to controlling interests 27,301 5,539 34,916 Percentage of ownership in equity investees 20%-50 % 20%-50 % 20%-50 % On November 14, 2018, Sony Corporation of America, Sony’s wholly-owned subsidiary, completed the acquisition of the entirety of the approximately 60% equity interest held by the investor consortium led by the Mubadala Investment Company in DH Publishing, L.P. (“EMI”), which owned and managed EMI Music Publishing. As a result of this acquisition, EMI became a wholly-owned subsidiary of Sony as described in Note 25. The carrying value of Sony’s investment in M3, Inc. (“M3”) web-portal. With the exception of M3 as described above, there was no significant difference between Sony’s proportionate share in the underlying net assets of the investees and the carrying value of investments in affiliated companies at March 31, 2019 and 2020. On December 19, 2019, SRE Holdings Corporation (“SRE”), Sony’s consolidated subsidiary, became a publicly listed company on the Tokyo Stock Exchange Mothers market (the “Listing”). Upon the Listing, Sony sold a portion of its shares of SRE, and shares issued by SRE were publicly offered (collectively, the “Sale”). Sony’s ownership of SRE’s total shares, which was 56.3% before the Sale, has decreased to 44.5% after the Sale. As a result, SRE has become an affiliate accounted for under the equity method of Sony. In connection with the Sale, Sony recorded a gain of 17,266 million yen, which consisted of both a remeasurement gain based on fair value for the shares Sony continues to hold after the Sale, and a realized gain for the sold shares, in other operating (income) loss, net in the consolidated statements of income for the fiscal year ended March 31, 2020. On January 29, 2020, Sony Life Insurance Co., Ltd.(“Sony Life”), Sony’s consolidated subsidiary, completed the acquisition of the entirety of 50% equity interest held by AEGON International B.V. in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. (collectively, the “JVs”). As a result of this acquisition, the JVs became consolidated subsidiaries of Sony as described in Note 25. AEGON Sony Life Insurance Co., Ltd. has changed its name to “Sony Life With Insurance Co., Ltd.,” as of Several affiliated companies are listed on the Tokyo Stock Exchange and Sony’s investments in these companies have an aggregate carrying value and fair value of 141,508 million yen and 756,073 million yen, respectively, as of March 31, 2020. The number of affiliated companies accounted for under the equity method as of March 31, 2019 and 2020 were 133 and 140, respectively. Account balances and transactions with affiliated companies accounted for under the equity method are presented below. There are no other material transactions or account balances with any other related parties. Yen in millions March 31 2019 2020 Accounts receivable, trade 12,404 12,030 Other receivables 134 1,589 Other current assets 33 9,757 Accounts payable, trade 1,087 1,497 Short-term borrowings 29,744 31,557 Finance lease liabilities and other* 20,265 34,564 Operating lease liabilities — 2,393 * Finance lease liabilities and other were represented as Capital lease obligations as of the fiscal year ended March 31, 2019. Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales 45,415 41,437 35,951 Purchases 3,180 5,584 3,479 Sony entered into sale and leaseback transactions regarding certain machinery and equipment with SFI Leasing Company, Limited (“SFIL”), a leasing company in Japan, in the fiscal years ended March 31, 2018 MITSUI-SOKO Supply Chain Solutions, Inc. is accounted for under the equity method and is 34% owned by Sony as a result of the sale of the logistics business on April 1, 2015. As of the fiscal years ended March 31, 2019 and 2020, account balances with MITSUI-SOKO Supply Chain Solutions, Inc. and its subsidiaries were 3,435 million yen and 1,181 million yen, respectively, which are mainly included in accrued expenses. For the fiscal years ended March 31, 2019 and 2020, transactions were 10,606 million yen and 6,069 million yen, respectively, which are mainly included in general and administrative expenses. Dividends from affiliated companies accounted for under the equity method for the fiscal years ended March 31, 2018, 2019 and 2020 were 5,613 million yen, 4,948 million yen and 4,523 million yen, respectively. |
Transfer of financial assets
Transfer of financial assets | 12 Months Ended |
Mar. 31, 2020 | |
Transfers and Servicing [Abstract] | |
Transfer of financial assets | 6. Transfer of financial assets Sony has established several accounts receivable sales programs mainly within the EP&S segment. Through these programs, Sony can sell receivables to a commercial bank or a special purpose entity associated with a sponsor bank. Total receivables sold during the fiscal years ended March 31, 2018, 2019 and 2020 were 84,718 million yen, 81,947 million yen and 65,214 million yen, respectively. These transactions are accounted for as sales in accordance with the accounting guidance for transfers of financial assets, because Sony has relinquished control of the receivables. Sony includes the sales proceeds from these receivables as cash flows within operating activities in the consolidated statement of cash flows because the receivables are the result of operating activities and are short term in nature. Gains and losses from these transactions were insignificant. Although Sony continues servicing the receivables subsequent to being sold or contributed, no servicing assets or liabilities are recorded as the costs of collection of the sold receivables and the income from servicing such receivables are insignificant. Certain accounts receivable sales programs above also involve VIEs. Refer to Note 24. |
Marketable securities and secur
Marketable securities and securities investments | 12 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable securities and securities investments | 7. Marketable securities and securities investments Marketable securities and securities investments, primarily held in the Financial Services segment, include debt securities for which the aggregate cost, gross unrealized gains and losses and fair value pertaining to available-for-sale held-to-maturity s Yen in millions March 31, 2019 March 31, 2020 Cost Gross Gross Fair value Cost Gross Gross Fair value Debt securities: Available-for-sale securities: Japanese national government bonds 1,422,620 220,989 (20 ) 1,643,589 1,552,036 210,459 (566 ) 1,761,929 Japanese local government bonds 67,461 70 (34 ) 67,497 69,132 73 (33 ) 69,172 Japanese corporate bonds 202,433 17,178 (223 ) 219,388 202,164 19,112 (567 ) 220,709 Foreign government bonds 153,429 8,669 (603 ) 161,495 198,777 81,014 (14 ) 279,777 Foreign corporate bonds 360,299 944 (376 ) 360,867 361,422 507 (2,179 ) 359,750 Securitized products 190,111 1 — 190,112 205,223 0 — 205,223 Other 2,286 2,402 — 4,688 14,398 1,867 (12 ) 16,253 2,398,639 250,253 (1,256 ) 2,647,636 2,603,152 313,032 (3,371 ) 2,912,813 Held-to-maturity Japanese national government bonds 6,042,635 2,016,786 — 8,059,421 6,204,505 2,098,885 (1,397 ) 8,301,993 Japanese local government bonds 3,518 388 — 3,906 2,504 331 — 2,835 Japanese corporate bonds 409,329 44,348 (5,845 ) 447,832 482,050 61,176 (4,754 ) 538,472 Foreign government bonds 386,392 18,609 (13,742 ) 391,259 723,937 302,297 — 1,026,234 Foreign corporate bonds 198 11 — 209 98 7 — 105 Securitized products — — — — 5,418 — (421 ) 4,997 6,842,072 2,080,142 (19,587 ) 8,902,627 7,418,512 2,462,696 (6,572 ) 9,874,636 Total 9,240,711 2,330,395 (20,843 ) 11,550,263 10,021,664 2,775,728 (9,943 ) 12,787,449 The following table presents the cost and fair value of debt securities classified as available-for-sale held-to-maturity Yen in millions March 31, 2020 Available-for-sale Held-to-maturity Cost Fair value Cost Fair value Due in one year or less 145,867 146,084 6,075 6,109 Due after one year through five years 432,281 435,443 199,509 217,983 Due after five years through ten years 561,098 637,363 246,072 283,086 Due after ten years 1,463,906 1,693,923 6,966,856 9,367,458 Total 2,603,152 2,912,813 7,418,512 9,874,636 Proceeds from sales of available-for-sale 2016-01 available-for-sale s Marketable securities classified as trading securities, which are held primarily in the Financial Services segment, totaled 234,117 million yen and 270,120 million yen as of March 31, 2019 and 2020, respectively. Sony recorded net unrealized gains of 48,047 million yen, net unrealized gains of 3,610 million yen, and net unrealized gains of 1,705 million yen for the fiscal years ended March 31 2018, 2019 and 2020, respectively. Changes in the fair value of trading securities are primarily recognized in financial services revenue in the consolidated statements of income. Sony adopted ASU 2016-01 from April 1, 2018, and as a result, the trading classification is eliminated for equity securities for the fiscal years ended March 31, 2019 and 2020. The following tables present the gross unrealized losses on, and fair value of, Sony’s investment securities with unrealized losses, aggregated by investment category and the length of time that individual investment securities have been in a continuous unrealized loss position, at March 31, 2019 and 2020. Yen in millions March 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale securities: Japanese national government bonds — — 4,063 (20 ) 4,063 (20 ) Japanese local government bonds 27,404 (29 ) 4,872 (5 ) 32,276 (34 ) Japanese corporate bonds 25,725 (21 ) 19,925 (202 ) 45,650 (223 ) Foreign government bonds — — 15,878 (603 ) 15,878 (603 ) Foreign corporate bonds 50,281 (117 ) 15,455 (259 ) 65,736 (376 ) Securitized products — — — — — — Other — — — — — — 103,410 (167 ) 60,193 (1,089 ) 163,603 (1,256 ) Held-to-maturity Japanese national government bonds — — — — — — Japanese local government bonds — — — — — — Japanese corporate bonds — — 97,984 (5,845 ) 97,984 (5,845 ) Foreign government bonds — — 151,229 (13,742 ) 151,229 (13,742 ) Foreign corporate bonds — — — — — — — — 249,213 (19,587 ) 249,213 (19,587 ) Total 103,410 (167 ) 309,406 (20,676 ) 412,816 (20,843 ) Yen in millions March 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale securities: Japanese national government bonds 51,746 (539 ) 2,032 (27 ) 53,778 (566 ) Japanese local government bonds 25,010 (10 ) 16,340 (23 ) 41,350 (33 ) Japanese corporate bonds 62,118 (548 ) 10,694 (19 ) 72,812 (567 ) Foreign government bonds — — 1,537 (14 ) 1,537 (14 ) Foreign corporate bonds 86,220 (2,133 ) 18,896 (46 ) 105,116 (2,179 ) Securitized products — — — — — — Other 12,055 (12 ) — — 12,055 (12 ) 237,149 (3,242 ) 49,499 (129 ) 286,648 (3,371 ) Held-to-maturity Japanese national government bonds 134,320 (1,397 ) — — 134,320 (1,397 ) Japanese local government bonds — — — — — — Japanese corporate bonds 98,172 (4,285 ) 3,727 (469 ) 101,899 (4,754 ) Foreign government bonds — — — — — — Foreign corporate bonds — — — — — — Securitized products 5,418 (421 ) — — 5,418 (421 ) 237,910 (6,103 ) 3,727 (469 ) 241,637 (6,572 ) Total 475,059 (9,345 ) 53,226 (598 ) 528,285 (9,943 ) At March 31, 2020, Sony determined that the decline in value for securities with unrealized losses shown in the above table is not other-than-temporary in nature. For the fiscal years ended March 31, 2019 and 2020, with respect to equity securities included in marketable securities and securities investments, Sony recorded net realized gains of 77,495 million yen and 20,176 million yen due to the sale of equity securities and net unrealized gains of 104,168 million yen and net unrealized loss of 134,831 million yen due to revaluation of equity securities held as of March 31, 2019 and 2020, respectively. Gains or losses arising from equity securities held in the Financial Services segment are recorded in financial services revenue, and gains or losses arising from equity securities held in all segments other than the Financial Services segment are recorded in gain (loss) gains and (losses) noted above were gains and (losses) recorded by Sony with respect to the equity securities held by Sony in Spotify Technology S.A. (“Spotify”). On April 3, 2018, Spotify was publicly listed for trading on the New York Stock Exchange. Sony owned 5.707% of Spotify’s shares at the time of the public listing. During the fiscal year ended March 31, 2019, Sony sold a portion of the Spotify shares that it owned for aggregate consideration of 82,616 million yen (768 million U.S. dollars) in cash proceeds. The sale of such shares, offset by costs to be paid to Sony’s artists and distributed labels and other transaction costs which directly related to the gains recognized from the sale of Spotify shares, resulted in a net pre-tax The remaining Spotify shares retained as of March 31, 2019 had a gross fair value of 78,947 million yen (711 million U.S. dollars), and the revaluation of such shares resulted in a pre-tax During the fiscal year ended March 31, 2020, Sony did not sell any portion of the Spotify shares that it owned. The pre-tax a decrease in The aggregate carrying amounts of securities that do not have readily determinable fair values for securities that do not have readily determinable fair values for , and for securities that do not have readily determinable fair values for s |
Leases
Leases | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | 8. Leases Sony leases certain communication and commercial equipment, plant, office space, warehouses, employees’ residential facilities and other assets under both finance and operating leases. (1) Lease cost The components of lease cost are as follows: Yen in millions Fiscal year ended 2020 Finance Lease cost Amortization of right-of-use 10,077 Interest on lease liabilities 1,266 Total finance lease cost 11,343 Operating lease cost 76,863 Short-term lease cost 20,620 Variable lease cost 141 Sublease income (3,860 ) Total lease cost 105,107 (2) Supplemental consolidated Supplemental consolidated balance sheet information related to leases is as follows: Yen in millions March 31 2020 Finance leases Current portion of long-term debt 9,240 Long-term debt 29,843 Total finance lease liabilities 39,083 Weighted average remaining lease term Operating leases 9.91 years Finance leases 8.61 years Weighted average discount rate Operating leases 3.147 % Finance leases 2.338 % (3) Rental payments and sublease rentals under operating leases The minimum rental payments required under operating leases that have initial or remaining lease terms in excess of one year at March , are as follows: Fiscal year ending March 31 Yen in millions 2020 58,901 2021 48,823 2022 34,726 2023 25,355 2024 22,152 Later fiscal years 78,507 Total minimum future rentals 268,464 Rental expenses under operating leases for the fiscal years ended March 31, 2018 and 2019 were 77,950 million yen and 71,516 million yen, respectively. Sublease rentals received under operating leases for the fiscal years ended March 31, 2018 and 2019 were 1,325 million yen and 1,013 million yen, respectively. The total minimum rentals to be received in the future under noncancelable subleases for operating leases as of March 31, 2019 were 1,598 million yen. (4) Maturities of lease liabilities Maturities of lease liabilities as of March 31, 2020 Yen in millions Fiscal year ending March 31 Operating leases Finance leases 2021 76,469 10,213 2022 69,606 7,323 2023 55,648 5,990 2024 40,303 4,689 2025 30,664 3,163 Later fiscal years 152,275 23,088 Total lease payments 424,965 54,466 Less imputed interest 41,187 15,383 Total 383,778 39,083 (5) Other information Other information related to leases is as follows: Yen in millions Fiscal year ended 2020 Cash paid for amounts included in the measurement of lease liabilities Payments for operating leases, included in cash flows from operating activities 71,612 Payments for finance leases, included in cash flows from financing activities 33,088 Right-of-use 124,380 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | 9. Goodwill and other intangible assets Intangible assets other than goodwill acquired during the fiscal year ended March 31, 2020 totaled 146,023 million yen, of which 145,596 million yen is subject to amortization, and are comprised of the following: Intangible assets acquired during the fiscal year Weighted-average Yen in millions Years Patent rights, know-how 7,848 8 Software to be sold, leased or otherwise marketed 16,609 3 Internal-use 93,768 4 Music catalogs 19,837 14 Other 7,534 11 In the fiscal year ended March 31, 2020, additions to internal-use Intangible assets subject to amortization are comprised of the following: Yen in millions March 31, 2019 March 31, 2020 Gross carrying Accumulated Gross carrying Accumulated Patent rights, know-how 169,761 (145,525 ) 166,076 (146,051 ) Customer relationships 15,759 (11,825 ) 16,104 (12,467 ) Trademarks 15,768 (9,863 ) 11,152 (6,114 ) Software to be sold, leased or otherwise marketed 125,350 (96,322 ) 141,111 (110,663 ) Internal-use 529,022 (345,935 ) 594,109 (384,236 ) Music catalogs 615,206 (106,725 ) 612,266 (124,787 ) Artist contracts 42,575 (29,108 ) 41,764 (29,017 ) Television carriage contracts (broadcasting agreements) 74,605 (28,685 ) 53,266 (21,645 ) Other 61,675 (49,288 ) 64,456 (51,317 ) Total 1,649,721 (823,276 ) 1,700,304 (886,297 ) The aggregate amortization expense for intangible assets for the fiscal years ended March 31, 2018, 2019 and 2020 was 123,450 million yen, 109,452 million yen and 110,819 million yen, respectively. The estimated aggregate amortization expense for intangible assets for the next five fiscal years is as follows: Fiscal year ending March 31 Yen in millions 2021 97,978 2022 82,057 2023 66,079 2024 50,098 2025 38,658 Total carrying amount of intangible assets having an indefinite life is Yen in millions March 31 2019 2020 Trademarks 69,447 69,975 Distribution agreements 18,834 18,834 Other 3,240 3,494 Total 91,521 92,303 The changes in the carrying amount of goodwill by segment for the fiscal years ended March 31, 2019 and 2020 are as follows: G&NS Music Pictures EP&S I&SS Financial All Total Balance, March 31, 2018: Goodwill — gross 150,606 165,700 246,620 194,468 45,793 7,931 27,912 839,030 Accumulated impairments — (306 ) (102,208 ) (181,665 ) — (706 ) (23,653 ) (308,538 ) Goodwill 150,606 165,394 144,412 12,803 45,793 7,225 4,259 530,492 Increase (decrease) due to: Acquisitions * 2,261 240,396 387 — — — — 243,044 Sales and dispositions — — — — — — — — Impairments — — — (776 ) — — (4,331 ) (5,107 ) Translation adjustments 1,088 (2,420 ) 3,673 (73 ) 771 — 72 3,111 Other — — (2,988 ) — — — — (2,988 ) Balance, March 31, 2019: Goodwill — gross 153,955 403,676 252,262 194,416 46,564 7,931 28,570 1,087,374 Accumulated impairments — (306 ) (106,778 ) (182,462 ) — (706 ) (28,570 ) (318,822 ) Goodwill 153,955 403,370 145,484 11,954 46,564 7,225 — 768,552 Increase (decrease) due to: Acquisitions * 17,945 2,956 14,889 364 — 3,609 — 39,763 Sales and dispositions — — (609 ) — — — — (609 ) Impairments — — — — — — — — Translation adjustments (926 ) (13,802 ) (5,410 ) (129 ) (372 ) — — (20,639 ) Other — (1,199 ) (1,980 ) — — — — (3,179 ) Balance, March 31, 2020: Goodwill — gross 170,974 391,631 257,074 194,635 46,192 11,540 28,269 1,100,315 Accumulated impairments — (306 ) (104,700 ) (182,446 ) — (706 ) (28,269 ) (316,427 ) Goodwill 170,974 391,325 152,374 12,189 46,192 10,834 — 783,888 Sony realigned its business segments from the first quarter of the fiscal year ended March 31, 2020. As a result of this realignment, the former HE&S, IP&S and MC segments have been realigned as the EP&S segment. In connection with this realignment, the carrying amounts of associated goodwill for the former HE&S, IP&S and MC segments have been reclassified to the EP&S segment for the fiscal years ended March 31, 2018 and 2019. Refer to Note 29. * Acquisitions for the fiscal year ended March 31, 2019 relate mainly to the acquisition of EMI Music Publishing in the Music segment. Acquisitions for the fiscal year ended March 31, 2020 relate mainly to the acquisition of Insomniac Games, Inc. in the G&NS segment, Silvergate Media in the Pictures segment and AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. in the Financial Services segment. Refer to Note 25. |
Insurance-related accounts
Insurance-related accounts | 12 Months Ended |
Mar. 31, 2020 | |
Insurance [Abstract] | |
Insurance-related accounts | 10. Insurance-related accounts Sony’s Financial Services segment subsidiaries in Japan maintain their accounting records as described in Note 2 in accordance with the accounting principles and practices generally accepted in Japan, which vary in some respects from U.S. GAAP. Those differences are mainly that insurance acquisition costs for life and non-life generally over the premium-paying period of the related insurance policies, and that future policy benefits for life insurance contracts calculated locally under the authorization of the supervisory administrative agencies are comprehensively adjusted using mainly the net level premium method with certain adjustments of actuarial assumptions for U.S. GAAP purposes. For the purpose of preparing the consolidated financial statements, appropriate adjustments have been made to reflect the accounting for these items in accordance with U.S. GAAP. The combined amounts of statutory net equity of the insurance subsidiaries, which is not measured in accordance with U.S. GAAP, as of March 31, 2019 and 2020 were 548,730 million yen and 586,983 million yen, respectively. (1) Insurance policies Life insurance policies that subsidiaries in the Financial Services segment underwrite, most of which are categorized as long-duration contracts, mainly consist of whole life, term life and accident and health insurance contracts. The life insurance revenues for the fiscal years ended March 31, 2018, 2019 and 2020 were 857,766 million yen, 910,011 million yen and 1,052,316 million yen, respectively. Property and casualty insurance policies that a subsidiary in the Financial Services segment underwrites are primarily automotive insurance contracts, which are categorized as short-duration contracts. The non-life (2) Deferred insurance acquisition costs Amortization of deferred insurance acquisition costs charged to income for the fiscal years ended March 31, 2018, 2019 and 2020 amounted to 68,137 million yen, 79,906 million yen and 93,734 million yen, respectively. At March 31, 2019 and 2020, the balances of deferred insurance acquisition costs of non-traditional life insurance contracts were 209,897 million yen and 206,363 million yen, respectively. (3) Future insurance policy benefits Liabilities for future insurance locked-in Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. The details regarding the minimum guarantee benefits are presented in (5) below. Sony elected the fair value option for certain of these liabilities for future insurance policy benefits. Refer to Note 13. At March 31, 2019 and 2020, future insurance policy benefits amounted to 5,633,865 million yen and 6,237,048 million yen, respectively. (4) Policyholders’ account in the life insurance business Policyholders’ account in the life insurance business represents an accumulation of account deposits plus credited interest less withdrawals, expenses and mortality charges. Policyholders’ account includes universal life insurance and investment contracts. Universal life insurance includes interest sensitive whole life contracts and variable life insurance contracts. The credited rates associated with interest sensitive whole life contracts range from 1.7% to 2.0%. For variable life insurance contracts, policy values are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. Investment contracts mainly include single payment endowment contracts, single payment educational endowment contracts, individual variable annuities and policies after the start of annuity payments. The credited rates associated with investment contracts, except for individual variable annuities, range from 0.01% to 6.3%. For individual variable annuities, policy values are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. Sony elected the fair value option for certain of these liabilities for policyholders’ account in the life insurance business. Refer to Note 13. Policyholders’ account in the life insurance business is comprised of the following: Yen in millions March 31 2019 2020 Universal life insurance 2,104,646 2,611,577 Investment contracts 816,903 885,690 Other 126,653 145,004 Total 3,048,202 3,642,271 (5) Minimum guarantee benefit for variable annuities and variable life insurance contracts Regarding variable annuities and variable life insurance contracts, minimum guarantee benefits (minimum death benefit, minimum accumulation benefit, etc.) are provided, and Sony bears the risk of fulfilling the minimum guarantee benefits prescribed in the contracts to policyholders. The fair value option is applied to the portion of the liability for variable annuity contracts with minimum guarantee benefits. Refer to Note 13. Excluding the portion of the liability measured at fair value, the liability for the minimum guarantee benefit is calculated based on the ratio of the present value of expected total excess payments divided by the present value of expected total assessments over the life of the contract. Mortality rates, lapse rates, discount rates and investment yield are used as significant assumptions for this calculation. Yen in million s March 31, 2019 Variable annuities Variable life insurance contracts Total Policyholder s — 1,092,559 1,092,559 Net amount at risk — 4,334,224 4,334,224 Liability for minimum guarantee benefit — 63,423 63,423 Age March 31 2019 Variable annuities Variable life insurance contracts Average attained age — 44 Yen in million s March 31 , Variable annuities Variable life insurance contracts Total Policyholder s 464,093 1,096,935 1,561,028 Net amount at risk 71,685 4,564,214 4,635,899 Liability for minimum guarantee benefit 64,045 79,860 143,905 Age March 31 2020 Variable annuities Variable life insurance contracts Average attained age 60 45 |
Short-term borrowings and long-
Short-term borrowings and long-term debt | 12 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Short-term borrowings and long-term debt | 11. Short-term borrowings and long-term debt Short-term borrowings are comprised of the following: Yen in millions March 31 2019 2020 Unsecured loans: with a weighted-average interest rate of 2.52% 55,186 with a weighted-average interest rate of 0.86% 91,725 Repurchase agreement: with a weighted-average interest rate of 0.56% 432,820 with a weighted-average interest rate of 0.93% 567,194 Secured call money: with a weighted-average interest rate of 0.18% 130,612 with a weighted-average interest rate of 0.13% 151,257 618,618 810,176 At March 31, 2020, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 474,644 million yen as collateral for 567,194 million yen of short-term repurchase agreements. The repurchase agreement provides for net settlement upon a termination event. At March 31, 2020, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 42,576 million yen as collateral for 151,257 million yen of secured call money. In addition, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with an aggregate book value of 12,445 million yen as collateral for cash settlements, variation margins of futures markets and certain other purposes. Long-term debt is comprised of the following: Yen in millions March 31 2019 2020 Unsecured loans, representing obligations principally to banks: Due 2019 to 2024, with interest rates ranging from 0.01 % to 7.89 % per annum 57,321 Due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum 17,880 Unsecured 0.05% bonds, due 2019 69,964 Unsecured 2.07% bonds, due 2019 50,000 Unsecured 0.23% bonds, due 2021 89,819 89,894 Unsecured 0.11% bonds, due 2022 10,000 10,000 Unsecured 1.41% bonds, due 2022 10,000 10,000 Unsecured 0.28% bonds, due 2023 15,000 15,000 Unsecured 0.13% bonds, due 2024 29,886 Unsecured 0.22% bonds, due 2025 10,000 10,000 Unsecured 0.42% bonds, due 2026 24,911 24,923 Unsecured 0.18% bonds, due 2026 10,000 Unsecured 0.30% bonds, due 2029 59,738 Unsecured zero coupon convertible bonds, due 2022: Conversion price 5,008.0 yen per common share 119,961 Conversion price 4,996.0 yen per common share 119,531 Secured 0.00% loans, due 2020 to 2023 200,003 201,205 Finance lease liabilities and other*: Due 2019 to 2048, with interest rates ranging from 0.36% to 9.14% per annum 72,991 Due 2020 to 2050, with interest rates ranging from 0.01% to 12.59% per annum 56,350 Guarantee deposits received 10,863 10,366 740,833 664,773 Less — Portion due within one year 172,461 29,807 568,372 634,966 * Finance lease liabilities and other were represented as Capital lease obligations and other as of the fiscal year ended March 31, 2019. At March 31, 2020, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 52,942 million yen and housing loans with a book value of 378,241 million yen as collateral for a 200,000 million yen long-term secured loan. On July 21, 2015, Sony issued 120,000 million yen of 130% callable unsecured zero coupon convertible bonds with stock acquisition rights due 2022 (the “Zero Coupon Convertible Bonds”). The bondholders are entitled to stock acquisition rights effective from September 1, 2015 to September 28, 2022. The initial conversion price was 5,008.0 yen per common share. In addition to the standard anti-dilution provisions, the conversion price is reduced for a certain period before an early redemption triggered upon the occurrence of certain corporate events including a merger, corporate split and delisting event. The reduced amount of the conversion price will be determined by a formula that is based on the effective date of the reduction and Sony’s common stock price. The reduced conversion price ranges from 3,526.5 yen to 5,008.0 yen per common share. The conversion price is also adjusted for dividends in excess of 25 yen per common share per fiscal year. The conversion price has been adjusted to 4,982.5 yen per common share since June 10, 2020 because the payment of the total annual dividend per common share for the fiscal year ended March 31, 2020 was 45 yen, which is in excess of 25 yen. Sony has the option to redeem all of the Zero Coupon Convertible Bonds outstanding at 100% of the principal amount after July 21, 2020, if the closing sales price per share of Sony’s common stock on the Tokyo Stock Exchange is 130% or more of the conversion price of the Zero Coupon Convertible Bonds for 20 consecutive trading days. Sony was not required to bifurcate any of the embedded features contained in the Zero Coupon Convertible Bonds for accounting purposes. There are no significant adverse debt covenants under the Zero Coupon Convertible Bonds. In October 2019, Sony issued unsecured straight bonds in the aggregate principal amount of 100,000 million yen. Sony used all of the proceeds of the issued bonds for the repayment of debt. There are no significant adverse debt covenants or cross-default provisions related to the other short-term borrowings and long-term debt. Aggregate amounts of annual maturities of long-term debt are as follows: Fiscal year ending March 31 Yen in millions 2021 29,807 2022 159,102 2023 229,617 2024 81,041 2025 43,923 Later fiscal years 121,283 Total 664,773 At March 31, 2020, Sony had unused committed lines of credit amounting to 518,147 million yen and can generally borrow up to 180 days from the banks with whom Sony has committed line contracts. Furthermore, at March 31, 2020, Sony ha d |
Housing loans and deposits from
Housing loans and deposits from customers in the banking business | 12 Months Ended |
Mar. 31, 2020 | |
Banking and Thrift [Abstract] | |
Housing loans and deposits from customers in the banking business | 12. Housing loans and deposits from customers in the banking business (1) Housing loans in the banking business Sony acquires and holds certain financial receivables in the normal course of business. The majority of financing receivables held by Sony consists of housing loans in the banking business and no other significant financial receivables exist. A subsidiary in the banking business monitors the credit quality of housing loans based on the classification set by the financial conditions and the past due status of individual obligors. Past due status is monitored on a daily basis and the aforementioned classification is reviewed on a quarterly basis. The allowance for the credit losses is established based on the aforementioned classifications and the evaluation of collateral. The amount of housing loans in the banking business and the corresponding allowance for credit losses as of March 31, 2019 were 1,685,504 million yen and 829 million yen, respectively, and as of March 31, 2020 were 1,927,054 million yen and 780 million yen, respectively. During the fiscal years ended March 31, 2019 and 2020, charge-offs on housing loans in the banking business and changes in the allowance for credit losses were not significant. The balance of housing loans placed on nonaccrual status or past due status were not significant as of March 31, 2019 and 2020. (2) Deposits from customers in the banking business All deposits from customers in the banking business within the Financial Services segment are interest bearing deposits. At March 31, 2019 and 2020, the balances of time deposits issued in amounts of 10 million yen or more were 292,968 million yen and 306,449 million yen, respectively. These amounts have been classified as current liabilities mainly due to the ability of the customers to make withdrawals prior to maturity. At March 31, 2020, aggregate amounts of annual maturities of time deposits with a remaining term of more than one year are as follows: Fiscal year ending March 31 Yen in millions 2022 39,145 2023 16,102 2024 10,513 2025 3,238 2026 2,190 Later fiscal years 12,823 Total 84,011 |
Fair value measurements
Fair value measurements | 12 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | 13. Fair value measurements As discussed in Note 2, assets and liabilities subject to the accounting guidance for fair value measurements held by Sony are classified and accounted for as described below. (1) Assets and liabilities that are measured at fair value on a recurring basis The following section describes the valuation techniques used by Sony to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Debt securities, equity securities, and other investments Where quoted prices are available in an active market, securities are classified in level 1 of the fair value hierarchy. Level 1 securities include exchange-traded equities. If quoted market prices are not available for the specific security or the market is inactive, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and mainly classified in level 2 of the hierarchy. Level 2 securities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments, such as the majority of government bonds and corporate bonds. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within level 3 of the fair value hierarchy. Level 3 securities primarily include certain securitized products, certain hybrid financial instruments, certain private equity investments, and certain domestic and foreign corporate bonds not classified within level 1 or level 2. Derivatives Exchange-traded derivatives valued using quoted prices are classified within level 1 of the fair value hierarchy. However, few classes of derivative contracts are listed on an exchange; thus, the majority of Sony’s derivative positions are valued using internally developed models that use as their basis readily observable market parameters — i.e., parameters that are actively quoted and can be validated to external sources, including industry pricing services. Depending on the types and contractual terms of derivatives, fair value can be modeled using a series of techniques, such as the Black-Scholes option pricing model, which are consistently applied. Where derivative products have been established for some time, Sony uses models that are widely accepted in the financial services industry. These models reflect the contractual terms of the derivatives, including the period to maturity, and market-based parameters such as interest rates, volatility, and the credit rating of the counterparty. Further, many of these models do not contain a high level of subjectivity as the techniques used in the models do not require significant judgment, and inputs to the model are readily observable from actively quoted markets. Such instruments are generally classified within level 2 of the fair value hierarchy. In determining the fair value of Sony’s interest rate swap derivatives, Sony uses the present value of expected cash flows based on market observable interest rate yield curves commensurate with the term of each instrument. For foreign currency derivatives, Sony’s approach is to use forward contract and option valuation models employing market observable inputs, such as spot currency rates, time value and option volatilities. These derivatives are classified within level 2 since Sony primarily uses observable inputs in its valuation of its derivative assets and liabilities. Future insurance policy benefits and policyholders’ account in the life insurance business In determining the fair value of future insurance policy benefits and policyholders’ account in the life insurance business to which Sony applies the fair value option, Sony uses the present value of future expected cash flows based on mortality rates, lapse rates, discount rates, investment yield and various actuarial assumptions. These are classified within level 3 since Sony primarily uses unobservable inputs in its valuation. In determining the fair value of liability for the minimum guarantee benefits of variable annuities, Sony uses mortality rates (0.004%~44.865%), lapse rates (1.000 % e The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2019 and 2020 are as follows. Yen in millions March 31, 2019 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 22,105 212,012 — 234,117 234,117 — — — Available-for-sale Japanese national government bonds — 1,643,589 — 1,643,589 18,719 1,624,870 — — Japanese local government bonds — 67,497 — 67,497 7,768 59,729 — — Japanese corporate bonds — 219,388 — 219,388 11,472 207,916 — — Foreign government bonds *1 — 161,495 — 161,495 3,984 157,511 — — Foreign corporate bonds *2 — 338,163 22,704 360,867 90,801 270,066 — — Securitized products *3 — 25,029 165,083 190,112 — 190,112 — — Other — 4,688 — 4,688 — 4,688 — — Equity securities 1,037,100 135,794 — 1,172,894 951,390 221,504 — — Other investments *4 5,489 1,507 6,918 13,914 — 13,914 — — Derivative assets *5 444 10,042 — 10,486 — — 9,431 1,055 Total assets 1,065,138 2,819,204 194,705 4,079,047 1,318,251 2,750,310 9,431 1,055 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future insurance policy benefits Policyholders’ account Other current liabilities Other noncurrent liabilitie Liabilities: Derivative liabilities *5 136 32,686 — 32,822 — — 19,852 12,970 Total liabilities 136 32,686 — 32,822 — — 19,852 12,970 Yen in millions March 31, 2020 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 24,330 245,790 — 270,120 270,120 — — — Available-for-sale Japanese national government bonds — 1,761,929 — 1,761,929 10,011 1,751,918 — — Japanese local government bonds — 69,172 — 69,172 15,334 53,838 — — Japanese corporate bonds — 220,679 30 220,709 14,774 205,935 — — Foreign government bonds *1 — 279,777 — 279,777 2,690 277,087 — — Foreign corporate bonds *2 — 343,980 15,770 359,750 94,156 265,594 — — Securitized products *3 — 33,383 171,840 205,223 — 205,223 — — Other — 4,152 12,101 16,253 — 16,253 — — Equity securities 950,744 581,642 — 1,532,386 1,434,612 97,774 — — Other investments *4 7,162 816 9,242 17,220 — 17,220 — — Derivative assets *5 1,310 41,073 — 42,383 — — 40,784 1,599 Total assets 983,546 3,582,393 208,983 4,774,922 1,841,697 2,890,842 40,784 1,599 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future insurance policy benefits Policyholders’ account Other current liabilities Other noncurrent liabilities Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 532,191 532,191 64,045 468,146 — — Derivative liabilities *5 2,077 33,789 — 35,866 — — 16,814 19,052 Total liabilities 2,077 33,789 532,191 568,057 64,045 468,146 16,814 19,052 *1 4,910 million yen and 7,771 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020 . *2 173,964 million yen and 188,426 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020, respectively. In the consolidated balance sheets, 33,391 million yen and 34,502 million yen are included as marketable securities and 140,573 million yen and 153,924 million yen are included as securities investment and other for the fiscal years ended March 31, 2019 and 2020, respectively. *3 185,195 million yen and 193,430 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2019 and 2020, respectively, and are included in the consolidated balance sheets as securities investments and other. *4 Other investments include certain hybrid financial instruments and certain private equity investments. *5 Derivative assets and liabilities are recognized and disclosed on a gross basis. *6 Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. Net gains of 85 million yen and net loss of 12,408 million yen arising from assets and liabilities Transfers into level 1 were 1,769 million yen and 4,395 million yen for the fiscal years ended March 31, 2019 and 2020, respectively, as quoted prices for certain trading debt securities and equity securities became available in an active market. Transfers out of level 1 were 2,508 million yen and 3,216 million yen for the fiscal years ended March 31, 2019 and 2020, respectively, as quoted prices for certain trading debt securities were not available in an active market. The changes in fair value of level 3 assets and liabilities for the fiscal years ended March 31, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31, 2019 Assets Liabilities Debt securities Future Policyholders’ Available-for-sale securities Japanese Foreign Securitized Other Other Beginning balance — 27,878 83,614 — 9,104 — Total realized and unrealized gains (losses): Included in earnings *1 — 465 562 — 276 — Included in other comprehensive income *2 — 131 1 — — — Purchases and Issuances — 5,787 94,696 — 4 — Sales — — — — (6 ) — Settlements — (10,435 ) (13,601 ) — (2,460 ) — Transfers into level 3 *3 — 20,863 5,284 — — — Transfers out of level 3 *4 — (21,985 ) (5,473 ) — — — Ending balance — 22,704 165,083 — 6,918 — Changes in unrealized gains (losses) Included in earnings *1 — 219 510 — 441 — Yen in millions Fiscal year ended March 31, 2020 Assets Liabilities Debt securities Future s ’ account Available-for-sale securities Japanese Foreign Securitized Other Other Beginning balance — 22,704 165,083 — 6,918 — Acquisition of AEGON Sony Life Insurance Co., *5 — — — — — 547,190 Total realized and unrealized gains (losses): Included in earnings *1 — 311 (18,151 ) — (500 ) 12,500 Included *2 — (73 ) 1 — — 3,032 Purchases and Issuances 30 13,597 40,175 12,101 4,711 5,295 Sales — — — — (9 ) — Settlements — (20,867 ) (12,967 ) — (1,878 ) (4,762 ) Transfers into level 3 *3 — 3,374 — — — — Transfers out of level 3 *4 — (3,276 ) (2,301 ) — — — Ending balance 30 15,770 171,840 12,101 9,242 532,191 Changes in unrealized gains (losses) relating to instruments still held at reporting date: Included in earnings *1 — (94 ) (16,507 ) — (376 ) 10,273 *1 Earning effects are included in financi a *2 Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale securities and included in debt valuation adjustments for future insurance policy benefits and policyholders’ account in the consolidated statements of comprehensive income. *3 Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. *4 Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. *5 Refer to Note 25 Level 3 assets include certain securitized products, certain private equity investments, and certain domestic and foreign corporate bonds for which quoted prices are not available in a market and where there is less transparency around inputs. In determining the fair value of such assets, Sony uses third-party information such as indicative quotes from dealers without adjustment. Level 3 liabilities include future insurance policy benefits and policyholders’ account in the life insurance business whose underlying figures are unobservable, and whose fair value is calculated in-house. For validating the fair values, Sony primarily uses internal models which include management judgment or estimation of assumptions that market participants would use in pricing the asset. (2) Assets and liabilities that are measured at fair value on a nonrecurring basis Sony also has assets and liabilities that are required to be remeasured to fair value on a nonrecurring basis when certain circumstances occur. During the fiscal years ended March 31, 2019 and 2020, such remeasurements to fair value related primarily to the following: During the fiscal year ended March 31, 2019 Estimated fair value Amounts included in earnings Level 1 Level 2 Level 3 Assets: Long-lived assets impairments — — 4,389 (44,135 ) Goodwill impairment — — 0 (5,107 ) (49,242 ) During the fiscal year ended March 31, 2020 Estimated fair value Amounts included in earnings Level 1 Level 2 Level 3 Assets: Remeasurement of retained investment in SRE 15,911 — — 13,347 Long-lived assets impairments — — 8,155 (36,003 ) (22,656 ) Long-lived assets impairments Sony recorded an impairment loss of 31,341 million yen, 19,172 million yen and 12,714 million yen for the fiscal years ended March 31, 2018, 2019 and 2020, respectively, included within the EP&S segment, related to long-lived assets in the smartphone business asset group. For the smartphone business asset group, the corresponding estimated future cash flows leading to the impairment charge reflected smartphone sales results and expectation of continued difficulty in the business environment. Sony recorded an impairment loss of 12,858 million yen for the fiscal year ended March 31, 2019, included within All Other, related to long-lived assets and goodwill in the storage media business asset group. As a result of conducting a strategic review of the business and evolving market trends, Sony reduced the corresponding estimated future cash flows of this business and the estimated ability to recover the entire carrying amount of the long-lived assets and goodwill within the period applicable to the impairment determination, resulting in an impairment charge for the fiscal year ended March 31, 2019. These measurements are classified as level 3 because significant unobservable inputs, such as the condition of the assets or projections of future cash flows, the timing of such cash flows and the discount rate reflecting the risk inherent in future cash flows, were considered in the fair value measurements. For the fiscal year ended March 31, 2018, a discount rate of 8.5% and projected revenue growth rates ranging from (8)% to 6% were used in the fair value measurements related to the long-lived assets for the smartphone business. For the fiscal year ended March 31, 2019, a discount rate of 8.5% and projected revenue growth rates ranging from (26)% to 24% were used in the fair value measurements related to the long-lived assets for the smartphone business. For the fiscal year ended March 31, 2020, a discount rate of 10.6% and projected revenue growth rates ranging from (10)% to 70% were used in the fair value measurements related to the long-lived assets for the smartphone business. For the fiscal year ended March 31, 2019, a discount rate of 8.9% and projected revenue growth rates ranging from (34)% to 21% were used in the fair value measurements related to the long-lived assets and goodwill for the storage media business. Except as described above, no other impairment losses were individually material for the fiscal year ended March 31, 2020. The other impairment losses were primarily related to the impairment losses in asset groups within Media Networks in the Pictures segment related to a review of the channel portfolio. Remeasurement of previously owned equity interest in EMI During the fiscal year ended March 31, 2019, Sony remeasured to fair value the previously owned equity interests in EMI in connection with EMI Music Publishing acquisition. The measurement is classified as level 3 because significant unobservable inputs, such as projections of future cash flows and market comparables of similar transactions and companies were considered in the fair value measurements. Refer to Note 25. Remeasurement of retained investment in SRE During the fiscal year ended March 31, 2020, Sony sold part of its shares in SRE and remeasured the remaining shares to fair value. This measurement is classified as level 1 because a quoted price for the shares of SRE is available on the Tokyo Stock Exchange. Refer to Note 5. Remeasurement of previously owned equity interest in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. During the fiscal year ended March 31, 2020, Sony remeasured to fair value the previously owned equity interests in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. (collectively, the “JVs”) in connection with acquisition of the JVs. The measurement is classified as level 3 because significant unobservable inputs, such as projections of future cash flows and market comparables of similar transactions and companies, were considered in the fair value measurements. AEGON Sony Life Insurance Co., Ltd. changed its name to “Sony Life With Insurance Co., Ltd.,” as of April 1, 2020. Refer to Note 25. (3) Financial instruments The estimated fair values by fair value hierarchy level of certain financial instruments that are not reported at fair value are summarized as follows: Yen in millions March 31, 2019 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 1,861,384 — 1,861,384 1,685,504 Total assets — 1,861,384 — 1,861,384 1,685,504 Liabilities: Long-term debt including the current portion — 737,529 — 737,529 740,833 Investment contracts included in policyholders’ account in the life insurance business — 877,157 — 877,157 816,903 Total liabilities — 1,614,686 — 1,614,686 1,557,736 Yen in millions March 31, 2020 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 2,161,432 — 2,161,432 1,927,054 Total assets — 2,161,432 — 2,161,432 1,927,054 Liabilities: Long-term debt including the current portion — 699,358 — 699,358 664,773 Investment contracts included in policyholders’ account in the life insurance business — 969,464 — 969,464 885,690 Total liabilities — 1,668,822 — 1,668,822 1,550,463 The summary excludes cash and cash equivalents, call loans, time deposits, notes and accounts receivable, trade, call money, short-term borrowings, notes and accounts payable, trade and deposits from customers in the banking business because the carrying values of these financial instruments approximated their fair values due to their short-term nature. The summary also excludes held-to-maturity Cash and cash equivalents, call loans and call money are classified in level 1. Time deposits, short-term borrowings, deposits from customers in the banking business are classified in level 2. Held-to-maturity |
Derivative instruments and hedg
Derivative instruments and hedging activities | 12 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative instruments and hedging activities | 14. Derivative instruments and hedging activities Sony has certain financial instruments including financial assets and liabilities acquired in the normal course of business. Such financial instruments are exposed to market risk arising from the changes in foreign currency exchange rates and interest rates. In applying a consistent risk management strategy for the purpose of reducing such risk, Sony uses derivative financial instruments, which include foreign exchange forward contracts, foreign currency option contracts, and interest rate swap agreements (including interest rate and currency swap agreements). Certain other derivative financial instruments are entered into in the Financial Services segment for asset-liability management (“ALM”) purposes. These instruments are executed with creditworthy financial institutions, and virtually all foreign currency contracts are denominated in U.S. dollars, euros and other currencies of major countries. These derivatives generally mature or expire within six months after the balance sheet date. Other than derivatives utilized in the Financial Services segment for ALM, Sony does not use derivative financial instruments for trading or speculative purposes. These derivative transactions utilized for ALM in the Financial Services segment are executed within certain limits in accordance with an internal risk management policy. Derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Both the derivatives designated as fair value hedges and the hedged items are reflected at fair value in the consolidated balance sheets. Changes in the fair value of the derivatives designated as fair value hedges, as well as offsetting changes in the carrying value of the underlying hedged items, are recognized in income. For the fiscal years ended March 31, 2018 , 2 20 20 Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges are initially recorded in other comprehensive income (“OCI”) and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the Derivatives not designated as hedges Changes in the fair value of derivatives not designated as hedges are recognized in income. A description of the purpose and classification of the derivative financial instruments held by Sony is as follows: Foreign exchange forward contracts and foreign currency option contracts Foreign exchange forward contracts and purchased and written foreign currency option contracts are utilized primarily to limit the exposure affected by changes in foreign currency exchange rates on cash flows generated or anticipated by Sony’s transactions and accounts receivable and payable denominated in foreign currencies. The majority of written foreign currency option contracts are a part of range forward contract arrangements and expire in the same month with the corresponding purchased foreign currency option contracts. Sony also entered into foreign exchange forward contracts and foreign exchange range forward contracts which effectively fixed the cash flows from certain forecasted purchase and sale transactions denominated in foreign currencies for the fiscal years ended March 31, , 2019 20 Foreign exchange forward contracts and foreign currency option contracts that do not qualify as hedges are marked-to-market Foreign exchange forward contracts, foreign currency option contracts and currency swap agreements held by certain subsidiaries in the Financial Services segment are marked-to-market Interest rate swap agreements (including interest rate and currency swap agreements) Interest rate swap agreements are utilized primarily to lower funding costs, to diversify sources of funding and to limit Sony’s exposure associated with underlying borrowings and available-for-sale Interest rate swap agreements entered into in the Financial Services segment are used for reducing the risk arising from the changes in the fair value of fixed rate available-for-sale available-for-sale Certain subsidiaries in the Financial Services segment have interest rate swap agreements as part of their ALM, which are marked-to-market Any other interest rate swap agreements that do not qualify as hedges, which are used for reducing the risk arising from changes of variable rate debt, are marked-to-market Other agreements Certain subsidiaries in the Financial Services segment have equity future contracts, equity swap agreements, bond future contracts, commodity future contracts, interest rate swaption agreements, other currency contracts and hybrid financial instruments as part of their ALM, which are marked-to-market The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows: Derivatives designated as hedging Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2019 2020 Liability derivatives 2019 2020 Interest rate contracts Prepaid expenses and other current assets 10 9 Current liabilities: Other 141 183 Interest rate contracts Other assets: Other 101 27 Liabilities: Other 8,274 8,177 Foreign exchange contracts Prepaid expenses and other current assets 131 1,799 Current liabilities: Other 42 — 242 1,835 8,457 8,360 Derivatives not designated as Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2019 2020 Liability derivatives 2019 2020 Interest rate contracts Prepaid expenses and other current assets 39 44 Current liabilities: Other 344 200 Interest rate contracts Other assets: Other 882 1,523 Liabilities: Other 3,637 9,120 Foreign exchange contracts Prepaid expenses and other current assets 8,807 19,655 Current liabilities: Other 11,549 14,580 Foreign exchange contracts Other assets: Other 72 49 Liabilities: Other 1,059 1,755 Equity contracts Prepaid expenses and other current assets 444 18,886 Current liabilities: Other 7,776 1,476 Bond contracts Prepaid expenses and other current assets — 306 Current liabilities: Other — 290 Commodity contracts Prepaid expenses and other current assets — 85 Current liabilities: Other — 85 10,244 40,548 24,365 27,506 Total derivatives 10,486 42,383 32,822 35,866 Presented below are the effects of derivative instruments on the consolidated statements of income and the consolidated statements of comprehensive income for the fiscal years ended March 31, 2018, 2019 and 2020. Derivatives under fair value hedging relationships Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2018 2019 2020 Interest rate contracts Financial services revenue (52 ) (1,835 ) (3,925 ) Total (52 ) (1,835 ) (3,925 ) Yen in millions Derivatives under cash flow hedging relationships Fiscal year ended March 31 2018 2019 2020 Amounts recognized in unrealized gains (losses) on derivative instruments in OCI Foreign exchange contracts : Components included in the assessment of hedge effectiveness (2,295 ) 2,315 1,712 Components excluded from the assessment of hedge effectiveness that were recognized based on amortization approach — — 1,087 Total (2,295 ) 2,315 2,799 Derivatives under cash flow hedging relationships Yen in millions Affected line item in consolidated statements of income Fiscal year ended March 31 2018 2019 2020 Amounts reclassified from unrealized Foreign exchange contracts : Components included in the assessment of hedge effectiveness Cost of sales 1,111 (1,093 ) — Net sales — — 106 Components excluded from the assessment of hedge effectiveness that were recognized based on amortization approach Net sales — — (1,087 ) Total 1,111 (1,093 ) (981 ) Derivatives not designated as Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2018 2019 2020 Interest rate contracts Financial services revenue (1,544 ) (3,192 ) 1,190 Foreign exchange contracts Financial services revenue 2,013 (8,198 ) 2,473 Foreign exchange contracts Foreign exchange loss, net 21,370 (7,437 ) 10,184 Equity contracts Financial services revenue (11,665 ) (7,649 ) 15,438 Bond contracts Financial services revenue — — (2,954 ) Commodity contracts Financial services revenue — — 110 Total 10,174 (26,476 ) 26,441 Presented below are the amortized cost of hedged items, which are available-for-sale debt securities, and cumulative amount of fair value hedging adjustments to hedged items under fair value hedging relationships as of March 31, 2020. Derivatives under hedging relationships Yen in millions Balance sheet location of hedged items March 31, 2020 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 15,255 — Interest rate contracts Securities investments and other 91,080 — Total 106,335 — The following table summarizes additional information, including notional amounts, for each type of derivative: Yen in millions March 31, 2019 March 31, 2020 Notional Fair value Notional Fair value Foreign exchange contracts: Foreign exchange forward contracts 701,880 (304 ) 740,464 4,361 Currency option contracts purchased 53,846 179 473 7 Currency option contracts written 58,825 (35 ) 460 (5 ) Currency swap agreements 959,777 (5,564 ) 893,874 (1,006 ) Other currency contracts 68,513 2,084 62,080 1,811 Interest rate contracts: Interest rate swap agreements 339,934 (11,346 ) 994,133 (16,019 ) Interest rate swaption agreements 5,300 (18 ) 18,700 (58 ) Equity contracts: Equity future contracts 58,725 308 63,354 (871 ) Equity swap agreements 63,107 (7,640 ) 103,409 18,281 Bond contracts: Bond — — 56,546 16 Commodity contracts: Commodity future contracts — — 1,465 0 All derivatives are recognized as either assets or liabilities in the consolidated balance sheets on a gross basis, but certain subsidiaries have entered into master netting agreements or other similar agreements, which are mainly International Swaps and Derivatives Association (ISDA) Master Agreements. An ISDA Master Agreement is an agreement between two counterparties that may have multiple derivative contracts with each other, and such ISDA Master Agreement may provide for the net settlement of all or a specified group of these derivative contracts, through a single payment, in a single currency, in the event of a default on or affecting any one derivative contract, or a termination event affecting all or a specified group of derivative contracts. Presented below are the effects of offsetting derivative assets, derivative liabilities, financial assets and financial liabilities as of March 31, 2019 and 2020. Yen in millions As of March 31, 2019 Gross amounts balance sheet Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 6,855 3,442 136 3,277 Derivative assets not subject to master netting agreements 3,631 3,631 Total assets 10,486 3,442 136 6,908 Derivative liabilities subject to master netting agreements 25,872 3,970 20,191 1,711 Derivative liabilities not subject to master netting agreements 6,950 6,950 Repurchase, securities lending and similar arrangements 432,820 432,820 — — Total liabilities 465,642 436,790 20,191 8,661 Yen in millions As of March 31, 2020 Gross amounts presented in the consolidated balance sheet Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 38,281 12,614 20,545 5,122 Derivative assets not subject to master netting agreements 4,102 4,102 Total assets 42,383 12,614 20,545 9,224 Derivative liabilities subject to master netting agreements 31,896 7,086 23,873 937 Derivative liabilities not subject to master netting agreements 3,970 3,970 Repurchase, securities lending and similar arrangements 567,194 564,874 — 2,320 Total liabilities 603,060 571,960 23,873 7,227 |
Pension and severance plans
Pension and severance plans | 12 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
Pension and severance plans | 15. Pension and severance plans (1) Defined benefit and severance plans Upon terminating employment, employees of Sony Corporation and its subsidiaries in Japan are entitled, under most circumstances, to lump-sum Under the plans, in general, the defined benefits cover 65% of the indemnities under existing regulations to employees. The remaining indemnities are covered by severance payments by the companies. The pension benefits are payable at the option of the retiring employee either in a lump-sum From April 1, 2012, Sony Corporation and substantially all of its subsidiaries in Japan have modified existing defined benefit pension plans such that life annuities will no longer accrue additional service benefits, with those participants instead accruing fixed-term annuities. The defined benefit pension plans were closed to new participants and a defined contribution plan was also introduced. From October 1, 2019, Sony Corporation and substantially all of its subsidiaries in Japan have amended their defined benefit pension plans and have implemented defined contribution plans for all employees other than those employees that had retired before the amendments. As a result, accrued pension and severance costs decreased 74,872 million yen and accumulated other comprehensive income increased 81,230 million yen in the consolidated balance sheets as of the fiscal year ended March 31, 2020. In addition, a loss on the pension plan amendment of 6,358 million yen was recorded in other expenses in the consolidated statements of income for the fiscal year ended March 31, 2020. In addition, several of Sony’s foreign subsidiaries have defined benefit pension plans or severance indemnity plans, which cover substantially all of their employees. Under such plans, the related cost of benefits is currently funded or accrued. Benefits awarded under these plans are based primarily on the current rate of pay and length of service. The components of net periodic benefit costs for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Japanese plans Yen in millions Fiscal year ended March 31 2018 2019 2020 Service cost 25,185 23,128 17,948 Interest cost 8,024 7,020 4,162 Expected return on plan assets (16,440 ) (16,695 ) (17,040 ) Recognized actuarial loss 16,099 15,365 12,969 Amortization of prior service costs (8,693 ) (7,864 ) (4,294 ) Losses on curtailments and settlements — — 6,358 Net periodic benefit costs 24,175 20,954 20,103 Foreign plans Yen in millions Fiscal year ended March 31 2018 2019 2020 Service cost 3,181 2,780 3,616 Interest cost 10,393 10,083 9,212 Expected return on plan assets (11,687 ) (11,797 ) (10,916 ) Amortization of net transition asset 5 — — Recognized actuarial loss 3,014 2,656 2,606 Amortization of prior service costs (574 ) (269 ) 2 Losses on curtailments and settlements 1,058 1,804 68 Net periodic benefit costs 5,390 5,257 4,588 The components of net periodic benefit costs other than service cost for the fiscal year s The estimated net actuarial loss and prior service cost for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit costs over the next fiscal year are 12,185 million yen and 1,412 million yen, respectively. The changes in the benefit obligation and plan assets as well as the funded status and composition of amounts recognized in the consolidated balance sheets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Change in benefit obligation: Benefit obligation at beginning of the fiscal year 1,010,574 1,034,954 356,397 351,918 Service cost 23,128 17,948 2,780 3,616 Interest cost 7,020 4,162 10,083 9,212 Plan participants’ contributions — — 462 487 Plan amendments — — — 10,210 Actuarial (gain) loss 29,295 (3,330 ) 1,700 19,776 Foreign currency exchange rate changes — — (1,554 ) (16,919 ) Curtailments and settlements — (359,205 ) (6,120 ) (4,434 ) Effect of changes in consolidated subsidiaries — — 1,947 — Other 6 2 — — Benefits paid (35,069 ) (35,668 ) (13,777 ) (14,055 ) Benefit obligation at end of the fiscal year 1,034,954 658,863 351,918 359,811 Change in plan assets: Fair value of plan assets at beginning of the fiscal year 711,077 742,204 269,745 274,749 Actual return on plan assets 18,701 2,942 15,243 26,738 Foreign currency exchange rate changes — — (838 ) (14,904 ) Employer contribution 36,875 7,453 8,542 9,916 Plan participants’ contributions — — 462 487 Curtailments and settlements — (284,333 ) (5,960 ) (3,146 ) Benefits paid (24,449 ) (31,060 ) (12,445 ) (12,730 ) Fair value of plan assets at end of the fiscal year 742,204 437,206 274,749 281,110 Funded status at end of the fiscal year (292,750 ) (221,657 ) (77,169 ) (78,701 ) Amounts recognized in the consolidated balance sheets consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Noncurrent assets 3,476 3,391 14,745 24,777 Current liabilities — — (4,412 ) (4,355 ) Noncurrent liabilities (296,226 ) (225,048 ) (87,502 ) (99,123 ) Ending balance (292,750 ) (221,657 ) (77,169 ) (78,701 ) Amounts recognized in accumulated other comprehensive income, excluding tax effects, consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Prior service cost (credit) (8,859 ) (369 ) (45 ) 10,058 Net actuarial loss 311,128 223,354 71,906 66,326 Ending balance 302,269 222,985 71,861 76,384 The accumulated benefit obligations for all defined benefit pension plans were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Accumulated benefit obligations 1,029,910 654,209 336,185 354,100 The projected benefit obligations, the accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Projected benefit obligations 1,022,235 645,544 200,596 230,058 Accumulated benefit obligations 1,017,191 640,890 196,928 226,080 Fair value of plan assets 726,009 420,497 123,937 130,955 Weighted-average assumptions used to determine benefit obligations as of March 31, 2019 and 2020 were as follows: Japanese plans Foreign plans March 31 March 31 2019 2020 2019 2020 Discount rate 0.6 % 0.6 % 2.8 % 2.0 % Rate of compensation increase * * 2.3 2.2 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Weighted-average assumptions used to determine the net periodic benefit costs for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2018 2019 2020 2018 2019 2020 Discount rate 0.9 % 0.8 % 0.6 % 3.1 % 2.9 % 2.8 % Expected return on plan assets 2.4 2.6 2.6 4.6 4.4 4.2 Rate of compensation increase * * * 2.4 2.6 2.3 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Sony reviews these assumptions for changes in circumstances. The weighted-average rate of compensation increase is calculated based only on the pay-related The mortality rate assumptions are based on life expectancy and death rates for different types of participants. To determine the expected long-term rate of return on pension plan assets, Sony considers the current and expected asset allocations, as well as the historical and expected long-term rates of returns on various categories of plan assets. Sony’s pension investment policy recognizes the expected growth and the variability risk associated with the long-term nature of pension liabilities, the returns and risks of diversification across asset classes, and the correlation among assets. The asset allocations are designed to maximize returns consistent with levels of liquidity and investment risk that are considered prudent and reasonable. While the pension investment policy gives appropriate consideration to recent market performance and historical returns, the investment assumptions utilized by Sony are designed to achieve a long-term return consistent with the long-term nature of the corresponding pension liabilities. The investment objectives of Sony’s plan assets are designed to generate returns that will enable the plans to meet their future obligations. The precise amount for which these obligations will be settled depends on future events, including the retirement dates and life expectancy of the plans’ participants. The obligations are estimated using actuarial assumptions, based on the current economic environment and other pertinent factors. Sony’s investment strategy balances the requirement to generate returns, using potentially higher yielding assets such as equity securities, with the need to control risk in the portfolio with less volatile assets, such as fixed-income securities. Risks include, among others, inflation, volatility in equity values and changes in interest rates that could negatively impact the funding level of the plans, thereby increasing its dependence on contributions from Sony. To mitigate any potential concentration risk, thorough consideration is given to balancing the portfolio among industry sectors and geographies, taking into account interest rate sensitivity, dependence on economic growth, currency and other factors that affect investment returns. The target allocations as of March 31, 2020, are, as a result of Sony’s asset liability management, 17% of equity securities, 54% of fixed income securities and 29% of other investments for the pension plans of Sony Corporation and most of its subsidiaries in Japan, and, on a weighted average basis, 14% of equity securities, 63% of fixed income securities and 23% of other investments for the pension plans of foreign subsidiaries. The fair values of the assets held by Japanese and foreign plans, which are classified in accordance with the fair value hierarchy described in Note 2, are as follows: Japanese plans Yen in millions Fair value at March 31, 2019 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 10,689 10,689 — — Equity: Equity securities *1 140,559 135,713 4,846 — Fixed income: Government bonds *2 210,817 — 210,817 — Corporate bonds *3 97,519 — 97,519 — Asset-backed securities *4 1,537 — 1,537 — Commingled funds *5 138,455 — 138,455 — Commodity funds *6 21,674 — 21,674 — Private equity *7 27,956 — — 27,956 Hedge funds *8 71,606 — — 71,606 Real estate and other *9 21,392 — — 21,392 Total 742,204 146,402 474,848 120,954 Japanese plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 24,851 24,851 — — Equity: Equity securities *1 50,646 47,308 3,338 — Fixed income: Government bonds *2 107,478 1,087 106,391 — Corporate bonds *3 71,192 20 71,172 — Asset-backed securities *4 1,090 — 1,090 — Commingled funds *5 58,740 — 58,740 — Commodity funds *6 21,823 — 21,823 — Private equity *7 30,191 — — 30,191 Hedge funds *8 48,410 — — 48,410 Real estate and other *9 22,785 — (2,586 ) 25,371 Total 437,206 73,266 259,968 103,972 *1 Includes approximately 51 percent and 37 percent of Japanese equity securities, and 49 percent and 63 percent of foreign equity securities for the fiscal years ended March 31, 2019 and 2020, respectively. *2 Includes approximately 48 percent and 36 percent of debt securities issued by Japanese national and local governments, and 52 percent and 64 percent of debt securities issued by foreign national and local governments for the fiscal years ended March 31, 2019 and 2020, respectively. *3 Includes debt securities issued by Japanese and foreign corporation and government related agencies. *4 Includes primarily mortgage-backed securities. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 percent and 50 percent of investments in equity, 49 percent and 45 percent of investments in fixed income, and 1 percent and 5 percent of investments in other for the fiscal years ended March 31, 2019 and 2020, respectively. *6 Represents commodity futures funds. *7 Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. *8 Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. *9 Includes primarily private real estate investment trusts. Foreign plans Yen in millions Fair value at 2019 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,340 4,340 — — Equity: Equity securities *1 23,766 23,113 653 — Fixed income: Government bonds *2 84,761 — 84,761 — Corporate bonds *3 32,749 — 32,749 — Asset-backed securities 1,115 — 1,115 — Insurance contracts *4 18,308 — 5,814 12,494 Commingled funds *5 76,503 — 76,503 — Real estate and other *6 33,207 — 11,118 22,089 Total 274,749 27,453 212,713 34,583 Foreign plans Yen in millions Fair value at 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,632 4,632 — — Equity: Equity securities *1 18,380 17,762 618 — Fixed income: Government bonds *2 93,826 — 93,826 — Corporate bonds *3 31,769 — 31,769 — Asset-backed securities 1,320 — 1,320 — Insurance contracts *4 19,334 — 7,156 12,178 Commingled funds *5 78,280 — 78,280 — Real estate and other *6 33,569 — 11,272 22,297 Total 281,110 22,394 224,241 34,475 *1 Includes primarily foreign equity securities. *2 Includes primarily foreign government debt securities. *3 Includes primarily foreign corporate debt securities. *4 Represents annuity contracts with or without profit sharing. *5 Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. *6 Includes primarily private real estate investment trusts. Each level in the fair value hierarchy in which each plan asset is classified is determined based on inputs used to measure the fair values of the asset, and does not necessarily indicate the risks or rating of the asset. The following is a description of the valuation techniques used to measure Japanese and foreign plan assets at fair value. The valuation techniques are applied consistently from period to period. Equity securities are valued at the closing price reported in the active market in which the individual securities are traded. These assets are generally classified as level 1. The fair value of fixed income securities is typically estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and are generally classified as level 2. Commingled funds are typically measured using the valuation provided by the administrator of the fund and reviewed by Sony. The valuation is based on Sony’s interest in the value of the underlying assets owned by the fund minus liabilities. These assets are classified as level 1, level 2 or level 3 depending on availability of quoted market prices. Commodity funds are valued using inputs that are derived principally from or corroborated by observable market data. These assets are generally classified as level 2. Private equity and private real estate investment trust valuations require significant judgment due to the absence of quoted market prices, the inherent lack of liquidity and the long-term nature of such assets. These assets are initially valued at cost and are reviewed periodically utilizing available and relevant market data to determine if the carrying value of these assets should be adjusted. These investments are classified as level 3. Hedge funds are measured using the valuation provided by the administrator or custodian of the fund and reviewed by Sony. The valuation is based on Sony’s interest in the value of the underlying assets owned by the fund minus liabilities. These investments are classified as level 3. The following table sets forth a summary of changes in the fair values of Japanese and foreign plans’ level 3 assets for the fiscal years ended March 31, 2019 and 2020: Japanese plans Yen in millions Fair value measurement using significant unobservable inputs (Level 3) Private equity Hedge funds Real estate and other Total Beginning balance at April 1, 2018 24,144 70,204 19,431 113,779 Return on assets held at end of year 4,428 659 1,622 6,709 Purchases, sales, and settlements, net (616 ) 743 339 466 Ending balance at March 31, 2019 27,956 71,606 21,392 120,954 Return on assets held at end of year 2,649 (648 ) 418 2,419 Purchases, sales, and settlements, net (414 ) (22,548 ) 3,561 (19,401 ) Ending balance at March 31, 2020 30,191 48,410 25,371 103,972 Foreign plans Yen in millions Fair value measurement using significant unobservable inputs (Level 3) Insurance Corporate bonds Real estate and other Total Beginning balance at April 1, 2018 12,729 5,303 25,976 44,008 Return on assets held at end of year 736 — 559 1,295 Purchases, sales, and settlements, net (389 ) — (3,809 ) (4,198 ) Transfers, net — (5,540 ) 123 (5,417 ) Other * (582 ) 237 (760 ) (1,105 ) Ending balance at March 31, 2019 12,494 — 22,089 34,583 Return on assets held at end of year 559 — 132 691 Purchases, sales, and settlements, net (373 ) — 755 382 Transfers, net — — — — Other * (502 ) — (679 ) (1,181 ) Ending balance at March 31, 2020 12,178 — 22,297 34,475 * Primarily consists of translation adjustments. Sony makes contributions to its defined benefit pension plans as deemed appropriate by management after considering the fair value of plan assets, expected return on plan assets and the present value of benefit obligations. Sony expects to contribute approximately 2 billion yen to the Japanese plans and approximately 8 billion yen to the foreign plans during the fiscal year ending March 31, 2021. The expected future benefit payments are as follows: Japanese plans Foreign plans Fiscal year ending March 31 Yen in millions Yen in millions 2021 37,384 20,825 2022 36,228 104,988 2023 36,985 12,089 2024 38,271 12,269 2025 37,216 13,074 2026 — 2030 185,218 112,218 (2) Defined contribution plans Total defined contribution expenses for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Japanese plans 3,237 3,353 6,925 Foreign plans 11,379 11,602 10,313 |
Stockholders' equity
Stockholders' equity | 12 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Stockholders' equity | 16. Stockholders’ equity (1) Common stock Changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2018, 2019 and 2020 have resulted from the following: Number of shares Balance at March 31, 2017 1,263,763,660 Issuance of new shares 218,000 Exercise of stock acquisition rights 2,565,700 Conversion of convertible bonds 4,789 Balance at March 31, 2018 1,266,552,149 Issuance of new shares 149,900 Exercise of stock acquisition rights 4,525,300 Conversion of convertible bonds 2,992 Balance at March 31, 2019 1,271,230,341 Issuance of new shares 184,900 Exercise of stock acquisition rights 2,294,900 Conversion of convertible bonds 86,040 Cancellation of treasury stock (12,737,400 ) Balance at March 31, 2020 1,261,058,781 At March 31, 2020, 36,802,040 shares of common stock would be issued upon the conversion or exercise of all convertible bonds and stock acquisition rights outstanding. Conversions of convertible bonds into common stock are accounted for in accordance with the provisions of the Companies Act of Japan ( Kaishaho one-half paid-in Sony Corporation may purchase its own shares at any time by a resolution of the Board of Directors up to the retained earnings available for dividends to shareholders, in accordance with the Companies Act. Sony Corporation’s Board of Directors resolved and authorized the repurchase of shares of its own common stock pursuant to the Companies Act at the meeting of the Board of Directors held on February 8, 2019. During the year ended March 31, 2019, Sony Corporation repurchased 19,309,100 shares of its common stock for an amount of 100,000 million yen under the above resolution. Sony Corporation’s Board of Directors resolved and authorized the repurchase of shares of its own common stock pursuant to the Companies Act at the meeting of the Board of Directors held on May 16, 2019. During the year ended March 31, 2020, Sony Corporation repurchased 33,059,200 shares of its common stock for an amount of 199,999 million yen under the above resolution. Based on the resolution of Sony Corporation ’s Representative Corporate Executive Officer delegated by the Board of Directors, Sony Corporation canceled 12,737,400 shares of its common stock held as treasury stock on March 26, 2020. (2) Retained earnings The amount of statutory retained earnings of Sony Corporation available for dividends to shareholders as of March 31, 2020 was 683,084 million yen. The appropriation of retained earnings for the fiscal year ended March 31, 2020, including cash dividends for the six-month period ended March 31, 2020, has been incorporated in the consolidated financial statements. This appropriation of retained earnings was approved by the written resolution of the Board of Directors of Sony Corporation as of May 13, 2020 and was then recorded in the statutory books of account, in accordance with the Companies Act. Retained earnings include Sony’s equity in undistributed earnings of affiliated companies accounted for by the equity method in the amount of 46,477 million yen and 61,226 million yen at March 31, 2019 and 2020, respectively. (3) Other comprehensive income Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Unrealized Unrealized Pension Foreign Total Balance at March 31, 2017 126,635 (58 ) (308,736 ) (436,610 ) (618,769 ) Other comprehensive income before reclassifications 2,013 (2,295 ) 1,779 (4,480 ) (2,983 ) Amounts reclassified out of accumulated other comprehensive income * (943 ) 1,111 10,611 (1,855 ) 8,924 Net other comprehensive income 1,070 (1,184 ) 12,390 (6,335 ) 5,941 Less: Other comprehensive income attributable to noncontrolling interests 1,514 — 98 2,306 3,918 Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Yen in millions Unrealized Unrealized Pension Adjustment Foreign Total Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Cumulative effect of ASU2016-01 (15,526 ) — — — (15,526 ) Other comprehensive income before reclassifications 33,124 2,316 (23,448 ) 10,071 22,063 Amounts reclassified out of accumulated other comprehensive income * 161 (1,093 ) 9,488 (1,627 ) 6,929 Net other comprehensive income 33,285 1,223 (13,960 ) 8,444 28,992 Less: Other comprehensive income attributable to noncontrolling interests 8,915 — 53 (1,578 ) 7,390 Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) (610,670 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) — (610,670 ) Other comprehensive income before reclassifications 40,334 1,193 (17,519 ) (75,814 ) 3,032 (48,774 ) Amounts reclassified out of accumulated other comprehensive income * 56 74 92,490 (74 ) — 92,546 Net other comprehensive income 40,390 1,267 74,971 (75,888 ) 3,032 43,772 Less: Other comprehensive income attributable to noncontrolling interests 14,234 — 34 (1,245 ) 1,059 14,082 Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) * Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. Reclassifications out of accumulated other comprehensive income for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Comprehensive income components Amounts reclassified from Affected line items in consolidated statements of income 2018 2019 2020 Unrealized gains (losses) on securities (646 ) 235 82 Financial services revenue (561 ) — — Gain on sale of securities investments, net Total before tax (1,207 ) 235 82 Tax expense or (benefit) 264 (74 ) (26 ) Net of tax (943 ) 161 56 Unrealized gains (losses) on derivative instruments 1,111 (1,093 ) — Cost of sales — — 106 Net sales Total before tax 1,111 (1,093 ) 106 Tax expense or (benefit) — — (32 ) Net of tax 1,111 (1,093 ) 74 Pension liability adjustment 11,034 9,891 92,514 * Tax expense or (benefit) (423 ) (403 ) (24 ) Net of tax 10,611 9,488 92,490 Foreign currency translation adjustments (1,855 ) (1,627 ) (74 ) Foreign exchange loss, net and other operating (income) expense, net Tax expense or (benefit) — — — Net of tax (1,855 ) (1,627 ) (74 ) Total amounts reclassified out of accumulated other comprehensive income, net of tax 8,924 6,929 92,546 * The amortization of pension and postretirement benefit components is (4) Equity transactions with noncontrolling interests Net income attributable to Sony Corporation’s stockholders and transfers (to) from the noncontrolling interests for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Net income attributable to Sony Corporation’s stockholders 490,794 916,271 582,191 Transfers (to) from the noncontrolling interests: Increase (decrease) in additional paid-in (74 ) (22,775 ) 16,372 Change from net income attributable to Sony Corporation’s stockholders and transfers (to) from the noncontrolling interests 490,720 893,496 598,563 During the fiscal year ended March 31, 2019, Sony acquired from the Estate of Michael Jackson (the “Estate”) the 25.1% interest in Nile Acquisition LLC (“Nile”) held by the Estate. A total of 287.5 million U.S. dollars was paid to the Estate for the acquisition. The difference between the cash consideration paid and the carrying amount of the noncontrolling interests was recognized as a decrease to additional paid-in On November 18, 2019, Sony, through a wholly-owned subsidiary in the Pictures segment, acquired AT&T Inc.’s (“AT&T”) 42% equity interest in Game Show Network, LLC (“Game Show Network”), a U.S.-based media network subsidiary. As a result of this acquisition, Game Show Network has become a wholly-owned subsidiary of Sony. Sony paid 53,992 million yen (496 million U.S. dollars) to AT&T, including 129 million U.S. dollars of dividends Sony distributed to AT&T prior to the acquisition. The difference between the cash paid and the carrying amount of the noncontrolling interests was recognized as an increase to additional paid-in |
Stock-based compensation plans
Stock-based compensation plans | 12 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock-based compensation plans | 17. Stock-based compensation plans The stock-based compensation expense for the fiscal years ended March 31, 2018, 2019 and 2020 was 5,249 million yen, 5,499 million yen and 5,958 million yen, respectively. Sony has a stock-based compensation incentive plan for selected directors, corporate executive officers and employees in the form of a stock acquisition rights plan. The stock acquisition rights generally have three year graded vesting schedules and are exercisable up to ten years from the date of grant. The total cash received from exercises under all of the stock acquisition rights plans during the fiscal years ended March 31, 2018, 2019 and 2020 was 7,129 million yen, 12,757 million yen and 7,560 million yen, respectively. Sony issued new shares of common stock upon exercise of these rights. The weighted-average fair value per share at the date of grant of stock acquisition rights granted during the fiscal years ended March 31, 2018, 2019 and 2020 was 2,045 yen, 1,593 yen and 1,864 yen, respectively. The fair value of stock acquisition rights granted on the date of grant and used to recognize compensation expense for the fiscal years ended March 31, 2018, 2019 and 2020 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Fiscal year ended March 31 2018 2019 2020 Weighted-average assumptions Risk-free interest rate 1.14 % 1.37 % 0.70 % Expected lives 6.55 years 5.98 years 5.73 years Expected volatility * 38.49 % 32.52 % 29.30 % Expected dividends 0.40 % 0.35 % 0.32 % * Expected volatility was based on the historical volatilities of Sony Corporation’s common stock over the expected life of the stock acquisition rights. A summary of the activities regarding the stock acquisition rights plan during the fiscal year ended March 31, 2020 is as follows: Fiscal year ended March 31, 2020 Number of Weighted- Weighted- Total intrinsic value Yen Years Yen in millions Outstanding at beginning of the fiscal year 12,213,900 3,665 Granted 3,279,700 6,669 Exercised 2,294,900 3,294 Forfeited or expired 322,000 5,500 Outstanding at end of the fiscal year 12,876,700 4,982 7.52 19,459 Exercisable at end of the fiscal year 6,235,700 3,581 6.43 15,552 The total intrinsic value of shares exercised under the stock acquisition rights plan during the fiscal years ended March 31, 2018, 2019 and 2020 was 6,970 million yen, 13,325 million yen and 7,575 million yen, respectively. As of March 31, 2020, there was 5,912 million yen years. |
Kumamoto Earthquake
Kumamoto Earthquake | 12 Months Ended |
Mar. 31, 2020 | |
Unusual or Infrequent Items, or Both [Abstract] | |
Kumamoto Earthquake | 18. Kumamoto Earthquake In April 2016, a series of earthquakes occurred in the Kumamoto region of Japan. These earthquakes caused damage to certain fixed assets, including buildings, machinery and equipment, as well as inventories in manufacturing sites located in the Kumamoto region. For the fiscal year ended March 31, 2017, Sony incurred incremental losses and associated expenses including repair costs of fixed assets and a loss on disposal of inventories directly related to the damage caused by the earthquakes of 16,682 million yen. These losses and expenses were primarily recorded in cost of sales in the consolidated statements of income and were offset by insurance recoveries of 10,682 million yen, as described below. In addition, Sony incurred other expenses of 9,365 million yen, which included idle facility costs at manufacturing sites. These expenses were primarily recorded in cost of sales in the consolidated statements of income. Sony has insurance policies that cover certain damage directly caused by the earthquakes for Sony Corporation and certain of its subsidiaries, including damage at manufacturing sites. The insurance policies cover the damage and costs associated with fixed assets and inventories, as well as incremental expenses including removal and cleaning costs. These policies also provide business interruption coverage, including coverage for lost profits. For the fiscal year ended March 31, 2017, Sony recorded insurance receivables of 10,682 million yen, representing a portion of the insurance recoveries that were deemed probable of collection up to the extent of the amount of corresponding losses recognized in the same period. Of the insurance receivables recorded during the period, substantially all relate to damaged assets and inventories, and do not include amounts for business interruption or lost profits. Sony concluded that the recoveries from insurance claims are probable based on the coverage under valid policies, communications with the insurance carriers, Sony’s past claims history with the insurance carriers, and Sony’s assessment that the insurance carriers have the financial ability to pay the claims. In March 2017, 10,000 million yen was agreed to by the insurance carriers. These receivables are recorded within other receivables, whereas the remaining receivables of 682 million yen is recorded in other current assets in the consolidated balance sheets as of the fiscal year ended March 31, 2017. Sony has underwritten 2,000 million yen in reinsurance policies for the above insurance carriers related to the policy described above. The amount was recorded in other current liabilities in the consolidated balance sheets as of the fiscal year ended March 31, 2017 and was paid to the insurance carriers in the fiscal year ended March 31, 2018. In April 2017, the remaining insurance claims of 10,000 million yen that were mainly for business interruption coverage were agreed to by the carriers. As a result, the total amount of insurance recoveries paid to Sony in April 2017 was 20,000 million yen. 9,318 million yen, which was the difference between 20,000 million yen and 10,682 million yen as described above, was recorded in other operating revenue for the fiscal year ended March 31, 2018. The proceeds from insurance recoveries were presented as cash flows from operating activities in the consolidated statements of cash flows for the fiscal year ended March 31, 2018. |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 19. Revenue (1) Contract balances Receivables from contracts with customers, contract assets and contract liabilities are comprised of the following: Yen in millions March 3 2019 March 31, 2020 Receivables from contracts with customers *1 1,183,115 1,126,597 Contract assets *1 19,147 13,985 Contract liabilities *2 254,646 271,286 *1 Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. *2 Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. Contract liabilities principally relate to customer advances received prior to performance. Revenues of 204,265 million yen were recognized during the fiscal year ended March 31, 2020, which were included in the balance of contract liabilities at March 31 (2) Performance obligations Remaining (unsatisfied or partially unsatisfied) performance obligations represent future revenues not yet recorded for firm orders that have not yet been performed. Sony applies practical expedients to exclude certain information about the remaining performance obligations, primarily related to contracts with an expected original duration of less than one year, and sales-based or usage-based royalty revenue on licenses of intellectual property. The following table shows the summary of the transaction prices allocated to remaining performance obligations that are unsatisfied at March 31, 2020, of which more than half are expected to be recognized within one year and substantially all within three years. Yen in millions March 31, 2020 Pictures — Motion Pictures and Television Productions *1 569,081 Pictures — Media Networks 22,333 Music *2 44,971 Others 47,126 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. (3) Contract costs Contract costs are comprised as follows: Yen in millions March 31 2019 March 31, 2020 Incremental costs of obtaining a contract 6,581 7,464 Sony applies practical expedients to recognize the incremental costs of obtaining a contract as an expense if the amortization period of the asset that otherwise would have been recognized is one year or less. The amortization of 6,420 million yen was recognized during the fiscal year ended March 31, 2020. The incremental costs of obtaining a contract are primarily recognized in the EP&S segment for the internet-related service business and amortized to expense over the contract period. (4) Disaggregation of revenue For the breakdown of sales and operating revenue by segments, product categories and geographies, refer to Note 29. |
Restructuring charges
Restructuring charges | 12 Months Ended |
Mar. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Restructuring charges | 20. Restructuring charges As part of its effort to improve the performance of the various businesses, Sony has undertaken a number of restructuring initiatives. Sony defines restructuring initiatives as activities initiated by Sony, which are designed to generate a positive impact on future profitability. These activities include exiting a business or product category, implementing a headcount reduction program, realignment of its manufacturing sites to low-cost The changes in the accrued restructuring charges for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Employee Non-cash * Other Total Balance at March 31, 2017 11,634 — 9,167 20,801 Restructuring costs 18,999 2,233 1,147 22,379 Non-cash — (2,233 ) — (2,233 ) Cash payments (9,950 ) — (6,352 ) (16,302 ) Adjustments (1,197 ) — 226 (971 ) Balance at March 31, 2018 19,486 — 4,188 23,674 Restructuring costs 24,449 2,731 5,825 33,005 Non-cash — (2,731 ) — (2,731 ) Cash payments (19,150 ) — (2,555 ) (21,705 ) Adjustments 955 — (357 ) 598 Balance at March 31, 2019 25,740 — 7,101 32,841 Restructuring costs 22,957 100 1,653 24,710 Non-cash — (100 ) — (100 ) Cash payments (23,385 ) — (6,703 ) (30,088 ) Adjustments (674 ) — (131 ) (805 ) Balance at March 31, 2020 24,638 — 1,920 26,558 * Significant asset impairments excluded from restructuring charges are described in Note 13. Total costs incurred in connection with these restructuring programs by segment for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31, 2018 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 6,358 272 6,630 — 6,630 Pictures 2,922 — 2,922 — 2,922 Electronics Products & Solutions 3,384 118 3,502 0 3,502 Imaging & Sensing Solutions 28 — 28 — 28 Financial Services — — — — — All Other and Corporate 6,307 2,990 9,297 26 9,323 Total 18,999 3,380 22,379 26 22,405 Yen in millions Fiscal year ended March 31, 2019 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 2,991 201 3,192 — 3,192 Pictures 4,795 — 4,795 — 4,795 Electronics Products & Solutions 11,437 4,574 16,011 86 16,097 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 5,226 3,781 9,007 — 9,007 Total 24,449 8,556 33,005 86 33,091 Yen in millions Fiscal year ended March 31, 2020 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 3,179 6 3,185 — 3,185 Pictures 545 — 545 — 545 Electronics Products & Solutions 14,500 227 14,727 — 14,727 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 4,733 1,520 6,253 256 6,509 Total 22,957 1,753 24,710 256 24,966 * Other associated costs includes non-cash Depreciation associated with restructured assets as used in the context of the disclosures regarding restructuring activities refers to the increase in depreciation expense caused by revising the useful life and the salvage value of depreciable fixed assets under an approved restructuring plan. Any impairment of the assets is recognized immediately in the period it is identified. Retirement programs Sony has undergone several headcount reduction programs to further reduce operating costs primarily in an effort to improve the performance of certain segments related to the EP&S segment and reduce cost at the headquarters function. Through measures including the realignment of its manufacturing sites, a review of its development and design structure, and the streamlining of its sales and administrative functions, Sony has continued to implement a company-wide (including headquarters) rationalization. Sony intends to reallocate and optimize its workforce through programs including work reassignments and outplacements. The employee termination benefits costs in the above table are included in selling, general and administrative in the consolidated statements of income. Music In an effort to optimize the organization and improve the performance of the Music segment, Sony has implemented a number of restructuring initiatives targeting operating effectiveness and cost reduction. These activities resulted in restructuring charges primarily consisting of headcount reductions totaling 6,630 million yen, 3,192 million yen and 3,185 million yen for the fiscal years ended March 31, 2018, 2019 and 2020 , Pictures In an effort to optimize the organization and improve the performance of the Pictures segment, Sony has implemented a number of restructuring initiatives targeting operating effectiveness and cost reduction. These activities resulted in restructuring charges primarily consisting of headcount reductions totaling 4,795 million yen for the fiscal year ended March 31 , 201 9 . EP&S In an effort to improve the performance of each business, mainly the smartphone business in the EP&S segment, Sony has implemented a number of restructuring initiatives targeting profitability improvement. These activities resulted in restructuring charges primarily consisting of the closure and consolidation of manufacturing sites as well as sales offices overseas totaling 16,011 million yen and 14,727 million yen for the fiscal year s , |
Supplemental consolidated state
Supplemental consolidated statements of income information | 12 Months Ended |
Mar. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Supplemental consolidated statements of income information | 21. Supplemental consolidated statements of income information (1) Other operating (income) expense, net Sony records transactions in other operating (income) Other operating (income) Yen in millions March 31 2018 2019 2020 Gain on sale of Sony City Osaki *1 (4,914 ) — — Gain on remeasurement of EMI shares *2 — (116,939 ) — Gain on remeasurement and sale of SRE shares *3 — — (17,266 ) Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares *4 — — (1,827 ) (Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net *5 (29,613 ) (1,557 ) (12,801 ) (Gain) loss on sale, disposal or impairment of assets, net *6 38,599 46,928 29,778 Other — — (1,495 ) 4,072 (71,568 ) (3,611 ) *1 A portion of gain on sale and leaseback transactions is deferred and is amortized on a straight-line basis over the lease term. *2 Refer to Notes 5 and 25. *3 Refer to Note 5. *4 Refer to Notes 5 and 25. *5 Refer to Notes 25 and 26. *6 Refer to Notes 9, 13, 20 and 26. (2) Research and development costs Research and development costs charged to cost of sales for the fiscal years ended March 31, 2018, 2019 and 2020 were 458,518 million yen, 481,202 million yen and 499,290 million yen, respectively. (3) Advertising costs Advertising costs included in selling, general and administrative expenses for the fiscal years ended March 31, 2018, 2019 and 2020 were 407,106 million yen, 385,500 million yen and 359,458 million yen, respectively. (4) Shipping and handling costs Shipping and handling costs for finished goods included in selling, general and administrative expenses for the fiscal years ended March 31, 2018, 2019 and 2020 were 46,252 million yen, 51,757 million yen and 46,196 million yen, respectively, which included the internal transportation costs of finished goods. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 22. Income taxes Domestic and foreign components of income before income taxes and the provision for current and deferred income taxes attributable to such income are summarized as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Income before income taxes: Sony Corporation and all subsidiaries in Japan 436,494 310,020 466,253 Foreign subsidiaries 262,555 701,628 333,197 699,049 1,011,648 799,450 Income taxes—Current: Sony Corporation and all subsidiaries in Japan 69,697 82,081 105,755 Foreign subsidiaries 57,988 84,667 66,636 127,685 166,748 172,391 Income taxes—Deferred: Sony Corporation and all subsidiaries in Japan 29,640 17,907 9,421 Foreign subsidiaries (5,555 ) (139,557 ) (4,622 ) 24,085 (121,650 ) 4,799 Total income tax expense 151,770 45,098 177,190 A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: Fiscal year ended March 31 2018 2019 2020 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.8 0.7 0.3 Income tax credits (0.6 ) (1.6 ) (1.7 ) Change in statutory tax rate and law (1.2 ) (0.3 ) (0.4 ) Change in valuation allowances (other than the 2019 reversal of Sony Americas Holding Inc. (“SAHI”) and its U.S. consolidated tax filing group below) (5.2 ) 2.3 (8.1 ) The 2019 reversal of valuation allowances of SAHI and its U.S. consolidated tax filing group — (15.3 ) — Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures (0.8 ) (0.1 ) 0.2 Lower tax rate applied to life and non-life (0.8 ) (0.5 ) (0.6 ) Foreign income tax differential (2.6 ) (6.4 ) (2.4 ) Adjustments to tax reserves (0.8 ) (0.3 ) 0.9 Effect of equity in net income of affiliated companies 0.0 0.0 0.0 The remeasurement gain for the equity interest in EMI — (2.4 ) — Japan controlled foreign company taxation — 0.0 5.3 Other 1.4 (3.1 ) (2.8 ) Effective income tax rate 21.7 % 4.5 % 22.2 % On December 22, 2017, the U.S. Tax Reform Act was signed into law, making significant changes to the U.S. tax rules. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning January 1, 2018 and the transition of U.S. international taxation from a worldwide tax system to a modified territorial system, with a one-time In addition to lowering the statutory corporate tax rate from 35% to 21%, the U.S. Tax Reform Act also eliminated certain deductions, included new restrictions on the deduction for interest, introduced a new tax regime called the Base Erosion Anti-Abuse Tax or “BEAT”, and changed how foreign earnings of the U.S. group are subject to tax. The U.S. Tax Reform Act also enhanced and extended the option to claim accelerated depreciation and amortization deductions by allowing full expensing of qualified property, including film costs, through 2022. The U.S. Tax Reform Act also provided for beneficial treatment of certain income derived by a U.S. entity from outside the United States (referred to as Foreign Derived Intangible Income or “FDII”). The BEAT creates a minimum tax on multinational corporations by requiring companies subject to the BEAT to pay the greater of their regular tax liability (less certain credits, including foreign tax credits) or 10% for taxable years beginning in 2019 (6.25% for the . . . . is to th e Sony provides a valuation allowance for its deferred tax assets, which includes net operating losses, temporary differences and tax credits, when it is more likely than not that some portion, or all, of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the relevant tax jurisdiction. As of December 31, 2018, SAHI and its U.S. consolidated tax filing group has continued its profitable trend, primarily as a result of the G&NS segment and the Music segment. Based on an assessment of the available positive and negative evidence, in the quarter ended December 31, 2018, Sony reversed the valuation allowances established The significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31 2019 2020 Deferred tax assets: Operating loss carryforwards for tax purposes 413,494 348,714 Accrued pension and severance costs 103,652 77,559 Amortization including film costs 86,196 65,349 Lease liability — 100,720 Warranty reserves and accrued expenses 108,515 116,234 Future insurance policy benefits 36,683 42,056 Inventory 19,716 15,512 Depreciation 34,638 39,085 Tax credit carryforwards 117,471 94,900 Loss on equity securities — 11,815 Reserve for doubtful accounts 9,136 9,090 Impairment of investments 12,278 6,029 Deferred revenue 19,081 24,420 Other 169,897 122,591 Gross deferred tax assets 1,130,757 1,074,074 Less: Valuation allowance (723,114 ) (608,243 ) Total deferred tax assets 407,643 465,831 Deferred tax liabilities: Insurance acquisition costs (169,244 ) (170,868 ) Future insurance policy benefits (181,052 ) (193,315 ) Unbilled accounts receivable in the Pictures segment (44,842 ) (26,214 ) Right-of-use assets — (96,970 ) Unrealized gains on securities (75,573 ) (92,791 ) Gain on equity securities (33,082 ) — Intangible assets acquired through stock exchange offerings (23,949 ) (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (93,979 ) (89,909 ) Undistributed earnings of foreign subsidiaries and corporate joint ventures (15,758 ) (25,359 ) Investment in M3 (37,007 ) (38,303 ) Other (62,092 ) (47,319 ) Gross deferred tax liabilities (736,578 ) (804,997 ) Net deferred tax liabilities (328,935 ) (339,166 ) Based on the weight of the available positive and negative evidence, for the fiscal year ended March 31, 2020, Sony continued to maintain valuation allowances against the deferred tax assets at Sony Corporation and its national tax filing group in Japan, as well as at Sony Mobile Communications in Sweden, Sony Europe B.V. in the United Kingdom, certain subsidiaries in Brazil, and certain subsidiaries in other tax jurisdictions. Valuation allowances also continue to be established on the remaining U.S. deferred tax assets, primarily foreign tax credits and certain research and development credits. Sony Corporation and its national tax filing group in Japan established a of 274,761 million yen relating to national tax and 125,465 million yen relating to local tax. For the deferred tax assets related to national tax in Sony Corporation and its national tax filing group in Japan, the valuation allowance is still established except for the amounts expected to be offset with taxable temporary differences as of March 31, 2020. Due to the uncertainty of the forecast of future income impacted by the spread of COVID-19 from early 2020, the valuation allowance established against the net deferred tax assets that are attributable to Sony Corporation and its national tax filing group in Japan was not reversed, even partially, in the fiscal year ended March 31, 2020 despite several years of profitability. The net changes in the total valuation allowance were decreases of 152,129 million yen, 176,721 million yen and 114,871 million yen for the fiscal years ended March 31, 2018, 2019 and 2020, respectively. The decrease in the valuation allowances during the fiscal year ended March 31, 2018 was primarily due to the use of net operating loss carryforwards and other deferred tax assets for both the national tax filing group in Japan and the consolidated tax filing group in the United States. The U.S. deferred tax assets were also reduced as a result of the reduction in the tax rate under the U.S. Tax Reform Act which had a corresponding reduction of the valuation allowance on those assets. In addition, valuation allowances were reversed in several jurisdictions, including France and Canada, as a result of sustained profitability. The decrease in the valuation allowances during the fiscal year ended March 31, 2019 was due to the reversal of the valuation allowances on significant deferred tax assets in SAHI and its U.S. consolidated tax filing group and the use of net operating loss carryforwards and other deferred tax assets in the national tax filing group in Japan and other jurisdictions. The decrease in the valuation allowances during the fiscal year ended March 31, 2020 was due to the use of net operating loss carryforwards and other deferred tax assets in the national tax filing group in Japan and the use of foreign tax credits and certain research and development credits in the consolidated tax filing group in the United States. At March 31, 2020, 16,312 million yen of deferred income taxes have not been provided on undistributed earnings of certain foreign subsidiaries and corporate joint ventures not expected to be remitted in the foreseeable future totaling 1,019,525 million yen. In addition, deferred income taxes have not been provided on the gain on the book/tax basis difference in subsidiaries, including a gain of 61,544 million yen on a subsidiary’s sale of stock arising from the issuance of common stock of Sony Music Entertainment (Japan) Inc. in a public offering to third parties in November 1991 and the remeasurement gain for the equity interest in EMI (Refer to Note 25). Sony does not anticipate any significant tax consequences on the possible future disposition of these investments based on its tax planning strategies. At March 31, 2020, Sony had net operating loss carryforwards, the tax effect of which totaled 348,714 million yen, which may be available as an offset against future taxable income on tax returns to be filed in various tax jurisdictions. With the exception of 96,890 million yen with no expiration period, substantially all of the total net operating loss carryforwards expire at various dates between the fiscal years ending March 31, 2021 and 2024 Tax credit carryforwards at March 31, 2020 amounted to 94,900 million yen. With the exception of 15,059 million yen with no expiration period, substantially all of the total available tax credit carryforwards expire at various dates between the fiscal years ending March 31, 2021 and 2030 A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows: Yen in millions March 31 2018 2019 2020 Balance at beginning of the fiscal year 119,529 95,425 50,577 Reductions for tax positions of prior years (8,809 ) (31,396 ) (331 ) Additions for tax positions of prior years 4,681 3,094 162 Additions based on tax positions related to the current year 5,740 2,594 8,074 Settlements (21,893 ) (4,235 ) (13,240 ) Lapse in statute of limitations (3,469 ) (14,824 ) (1,251 ) Foreign currency translation adjustments (354 ) (81 ) (2,723 ) Balance at end of the fiscal year 95,425 50,577 41,268 Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate 39,308 35,004 29,539 The major changes in the total gross amount of unrecognized tax benefit balances relate to transfer pricing adjustments, including as a result of the Bilateral Advance Pricing Agreements (“APAs”) and competent authority requests filed for certain subsidiaries in the G&NS, EP&S and I&SS segments and All Other, with respect to the intercompany cross-border transactions. The APAs include agreements between Sony and two taxing authorities under the authority of the mutual agreement procedure specified in income tax treaties. Sony reviews its estimated tax expense based on the progress made in these procedures, and the progress of transfer pricing audits generally, and makes adjustments to its estimates as necessary. In addition, the APAs are government to government negotiations, and therefore it is possible that the final outcomes of the agreements may differ from Sony’s current assessment of the more-likely-than-not During the fiscal year ended March 31, 2018, Sony recorded 1,053 million yen of interest expense and 876 million yen of penalties. At March 31, 2018, Sony had recorded liabilities of 10,788 million yen and 4,637 million yen for the payments of interest and penalties, respectively. During the fiscal year ended March 31, 2019, Sony reversed 1,479 million yen of interest expense and recorded 218 million yen of penalties. At March 31, 2019, Sony had recorded liabilities of 9,309 million yen and 4,855 million yen for the payments of interest and penalties, respectively. During the fiscal year ended March 31, 2020, Sony re versed corded Sony operates in multiple jurisdictions throughout the world, and its tax returns are periodically audited by Japanese and foreign taxing authorities. As a result of audit settlements, the conclusion of current examinations, the expiration of the statute of limitations in several jurisdictions and other reevaluations of Sony’s tax positions, it is expected that the amount of unrecognized tax benefits will change in the next twelve months. Accordingly, Sony believes it is reasonably possible that its existing unrecognized tax benefits may be reduced by an amount up to 1,791 million yen within the next twelve months. Sony remains subject to examinations by Japanese taxing authorities for tax years from 2010 through 2019, and by the U.S. tax authorities for tax years from |
Reconciliation of the differenc
Reconciliation of the differences between basic and diluted EPS | 12 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Reconciliation of the differences between basic and diluted EPS | 23. Reconciliation of the differences between basic and diluted EPS Reconciliation of the differences between basic and diluted EPS for the fiscal years ended March 31, 2018, 2019 and 2020 is as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Net income attributable to Sony Corporation’s stockholders for basic and diluted EPS computation 490,794 916,271 582,191 Thousands of shares Weighted-average shares outstanding 1,263,895 1,266,592 1,234,408 Effect of dilutive securities: Stock acquisition rights 4,565 4,088 3,853 Zero coupon convertible bonds 23,960 23,966 23,994 Weighted-average shares for diluted EPS computation 1,292,420 1,294,646 1,262,255 Yen Basic EPS 388.32 723.41 471.64 Diluted EPS 379.75 707.74 461.23 Potential shares of common stock which were excluded from the computation of diluted EPS for the fiscal years ended March 31, 2018, 2019 and 2020 were 2,921 thousand shares, 5,731 thousand shares and 3,212 thousand shares, respectively. Potential shares related to stock acquisition rights were excluded as anti-dilutive for the fiscal years ended March 31, 2018, 2019 and 2020 when the exercise price for those shares was in excess of the average market value of Sony’s common stock for those fiscal years. The zero coupon convertible bonds issued in July 2015 were included in the diluted EPS calculation under the if-converted |
Variable interest entities
Variable interest entities | 12 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable interest entities | 24. Variable interest entities Sony has entered into various arrangements with VIEs. (1 ) Consolidated VIEs Sony’s U.S. subsidiary that is engaged in the recorded music business has entered into several joint ventures with companies involved in the production and creation of recorded music. Sony has reviewed these joint ventures and determined that they are VIEs. Based on a qualitative assessment, it was determined that Sony has the power to direct the activities that most significantly impact the VIEs’ economic performance, as well as the obligation to absorb the losses of these VIEs as Sony is responsible for providing funding to these VIEs, and in most cases absorbs all losses until the VIEs become profitable. As a result, it has been determined that Sony is the primary beneficiary and, accordingly, these VIEs are consolidated by Sony. The assets of Sony are not available to settle the obligations of these VIEs. As of March 31, 2020, the total assets and liabilities for these VIEs, on an aggregate basis, were 46,154 million yen and 25,100 million yen, respectively. (2) Unconsolidated VIEs As described in Note 6, certain accounts receivable sales programs also involve VIEs. These VIEs are all special purpose entities associated with the sponsor banks. Based on a qualitative assessment, Sony is not the primary beneficiary and therefore does not consolidate these entities as Sony does not have the power to direct the activities, an obligation to absorb losses, or the right to receive the residual returns of these VIEs. Sony’s maximum exposure to losses from these VIEs is considered insignificant. In the Financial Services segment, Sony has variable interests in VIEs where Sony is not the primary beneficiary. Sony’s variable interests in such VIEs include equity securities, securitized products, foreign corporate bonds and other investments. The following tables present the carrying value of the variable interests of unconsolidated VIEs, the presentation in the consolidated balance sheet, and the maximum exposure to loss associated with these variable interests as of March 31, 2019 and 2020. Maximum exposure to loss does not reflect Sony’s estimate of the actual losses that could result from adverse changes, nor does it reflect the economic hedges Sony enters into to reduce its exposure. The risks associated with VIEs in which Sony is involved are limited to the amount recorded in the consolidated balance sheets and the amount of commitments. Yen in millions March 31, 2019 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid expenses and other current assets Equity securities *1 135,552 8,485 — 146,031 Securitized products — 191,049 — 195,190 Foreign corporate bonds *2 29,889 65,503 — 95,392 Other investments — 4,688 21,000 25,688 Total 165,441 269,725 21,000 462,301 Yen in millions March 31, 2020 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid expenses and other current assets Equity securities *1 579,773 6,229 — 587,602 Securitized products — 210,641 — 210,641 Foreign corporate bonds *2 41,452 41,036 — 82,488 Other investments — 16,253 21,000 43,719 Total 621,225 274,159 21,000 924,450 *1 Equity securities include Investment funds. *2 Foreign corporate bonds include repackaged bonds. |
Acquisitions
Acquisitions | 12 Months Ended |
Mar. 31, 2020 | |
Business Combinations [Abstract] | |
Acquisitions | 25. Acquisitions (1) EMI Music Publishing acquisition On November 14, 2018, Sony Corporation of America, Sony’s wholly-owned subsidiary, completed the acquisition of the entirety of the approximately 60% equity interest held by the investor consortium led by the Mubadala Investment Company in DH Publishing, L.P. (“EMI”), which owned and managed EMI Music Publishing, for the equity purchase price of 257,168 million yen (2,269 million U.S. dollars), which includes payments related to warrants and management equity plans. Sony paid all the consideration in cash upon the acquisition. As a result of this acquisition, EMI has become a wholly-owned subsidiary of Sony. This acquisition allows Sony to build upon its music publishing library by providing the Company with full ownership of the EMI Music Publishing catalog which was being administered by Sony’s wholly-owned music publishing subsidiary, Sony/ATV Music Publishing. Sony’s consolidated income statements for the fiscal year ended March 31, 2019 include revenue and operating income of 28,871 million yen (260 million U.S. dollars) and 6,432 million yen (58 million U.S. dollars), respectively, attributable to EMI since the date of acquisition. Sony’s consolidated income statements for the three months ended March 31, 2019 include revenue and operating income of 18,420 million yen (167 million U.S. dollars) and 4,522 million yen (41 million U.S. dollars), respectively, attributable to EMI. Prior to the acquisition, Sony’s interest in EMI was accounted for under the equity method of accounting. As a result of Sony obtaining a controlling interest in EMI, Sony consolidated EMI using the acquisition method of accounting and recorded the fair value of the identifiable assets, liabilities assumed and residual goodwill of EMI. Sony remeasured the approximately 40% equity interest in EMI that Sony already owned prior to the acquisition at a fair value of 141,141 million yen (1,245 million U.S. dollars) which resulted in the recognition of a non-cash The following table summarizes the preliminary and final fair values assigned to the assets and liabilities of EMI that were recorded in the Music segment. Certain areas of the purchase price allocation were not yet finalized as of the fiscal year ended March 31, 2019, including the valuation of income taxes and residual goodwill. Yen in millions Acquired assets (Preliminary) Measurement Acquired assets (Final) Cash and cash equivalents 12,971 12,971 Notes and accounts receivable, trade and contract assets 32,287 32,287 Prepaid expenses and other current assets 10,220 (98 ) 10,122 Securities investments and other 1,476 1,476 Intangibles, net 420,534 420,534 Goodwill 237,271 (1,206 ) 236,065 Other 10,023 10,023 Total assets 724,782 (1,304 ) 723,478 Notes and accounts payable, trade 1,731 1,731 Accounts payable, other and accrued expenses 70,675 70,675 Accrued income and other taxes 3,082 (69 ) 3,013 Long-term debt 148,621 148,621 Accrued pension and severance costs 1,947 1,947 Deferred income taxes 94,849 (1,235 ) 93,614 Other 5,564 5,564 Total liabilities 326,469 (1,304 ) 325,165 Intangibles mainly consists of music publishing catalogs with weighted average amortization periods of 43 years. Goodwill represents unidentifiable intangible assets, such as future growth from new revenue streams and synergies with existing Sony assets and businesses, and is calculated as the excess of the purchase price over the estimated fair value of the tangible and intangible assets acquired and is not deductible for tax purposes. The goodwill recorded in connection with this acquisition is included in the Music segment. The following unaudited supplemental pro forma financial information presents the combined results of operations of Sony and EMI as though the acquisition had occurred as of the beginning of the fiscal year ended March 31, 2018: Yen in millions, Yen per share amounts Fiscal year ended March 31 2018 2019 Net sales 8,612,280 8,738,209 Operating income 854,786 801,973 Net income attributable to Sony Corporation’s stockholders 584,019 817,629 Per share data: — Basic EPS 462.08 645.53 — Diluted EPS 451.88 631.55 The unaudited supplemental pro forma financial information is based on estimates and assumptions, which Sony believes are reasonable, and is not intended to represent or be indicative of what Sony’s consolidated net income attributable to Sony Corporation’s stockholders would have been had the acquisition been completed at the beginning of the fiscal year ended March 31, 2018 and should not be taken as indicative of Sony’s future consolidated net income attributable to Sony Corporation’s stockholders. The unaudited supplemental pro forma financial information includes the elimination of equity in net income and consolidation of EMI, the adjustment of the gain from the remeasurement of the previously owned equity interest, incremental intangible asset amortization, net of the related tax effects and the adjustments of expenses incurred in relation to warrants and management equity plans. (2) Insomniac Games, Inc. acquisition On November 15, 2019, Sony Interactive Entertainment LLC, a wholly-owned subsidiary in the G&NS segment of Sony, completed the acquisition of Insomniac Games, Inc. (“Insomniac Games”), a game developer. The consideration for this acquisition of 24,895 million yen (229 million U.S. dollars) was mainly paid in cash. As a result of this acquisition, Insomniac Games has become a wholly-owned subsidiary of Sony. As a result of this acquisition, Sony recorded 17,945 million yen (164 million U.S. dollars) of goodwill and 6,794 million yen (62 million U.S. dollars) of intangible assets. The cash consideration paid in this transaction, net of cash received, is included within Other in the investing activities section of the consolidated statements of cash flows. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (3) Silvergate Media acquisition On December 9, 2019, Sony, through a wholly-owned subsidiary in the Pictures segment, acquired Silvergate Media Group (“Silvergate”), a company focused on developing, producing and licensing children’s animation. The consideration for this acquisition of 21,017 million yen (192 million U.S. dollars) was paid in cash. As a result of this acquisition, Sony owns (1) 100% of Silvergate Topco Limited, which holds all assets of Silvergate other than certain rights held by Silvergate BP Bidco Limited, and (2) 31% of Silvergate BP Bidco Limited, the entity through which Silvergate produces its Peter Rabbit television series, and Sony recorded 11,431 million yen (106 million U.S. dollars) of goodwill and 3,387 million yen (32 million U.S. dollars) of intangible assets. The cash consideration paid in this transaction, net of cash received, is included within Other in the investing activities section of the consolidated statements of cash flows. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (4) Acquisition of equity interests in joint ventures in the life insurance business On January 29, 2020, Sony Life, Sony’s consolidated subsidiary, acquired 50% of the shares of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. (collectively, the “JVs”) from AEGON International B.V. The purchase price for the acquisition was 18,750 million yen and Sony Life paid all the consideration in cash upon the acquisition. As a result of this acquisition, Sony Life owns 100% of the shares of the JVs and the JVs have become consolidated subsidiaries of Sony. Sony Life will endeavor to make use of the strength and know-how as of Prior to the acquisition, Sony’s interest in the JVs was accounted for under the equity method of accounting. As a result of Sony obtaining a controlling interest in the JVs, Sony consolidated the JVs using the acquisition method of accounting and recorded the fair value of the identifiable assets, liabilities assumed and residual goodwill of the JVs. Sony remeasured equity interest in the JVs that Sony already owned prior to the acquisition at a fair value million yen which resulted in the recognition of a non-cash million yen recorded in other operating income, net. Sony did not record any tax expense or deferred tax liability corresponding to this gain. The following table summarizes the fair values assigned to the assets and liabilities of the JVs that were recorded in the Financial Services segment. Yen in millions Cash and cash equivalents 27,380 Marketable securities 530,851 Prepaid expenses and other current assets 21,933 Securities investments and other 15,329 Goodwill 3,609 Other 406 Total assets 599,508 Future insurance policy benefits and other 66,599 Policyholders’ account in the life insurance business 495,248 Other 4,979 Total liabilities 566,826 Goodwill represents the expected improvement of profitability due to business integration with Sony Life and operational efficiency, and is calculated as the excess of the purchase price over the estimated fair value of the tangible and intangible assets acquired and is not deductible for tax purposes. The goodwill recorded in connection with this acquisition is included in the Financial Services segment. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (5) Other acquisitions During the fiscal year ended March 31, 2018, Sony completed other acquisitions for total consideration of 27,459 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 20,013 million yen of goodwill and 4,980 million yen of intangible assets. During the fiscal year ended March 31, 2019, Sony completed other acquisitions for total consideration of 7,743 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 5,773 million yen of goodwill and 4,422 million yen of intangible assets. During the fiscal year ended March 31, 2020, Sony completed other acquisitions for total consideration of 6,853 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 6,778 million yen of goodwill and 2,301 million yen of intangible assets. No significant amounts have been allocated to in-process |
Divestitures
Divestitures | 12 Months Ended |
Mar. 31, 2020 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestitures | 26. Divestitures Sale of equity interest in Sony Electronics Huanan Co., Ltd. On April 1, 2017, Sony transferred all of the equity interest in Sony Electronics Huanan Co., Ltd. (“SEH”), a wholly-owned subsidiary in the I&SS segment that manufactures camera modules, to Shen Zhen O-Film |
Collaborative arrangements
Collaborative arrangements | 12 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Collaborative arrangements | 27. Collaborative arrangements Sony’s collaborative arrangements primarily relate to arrangements entered into, through subsidiaries in the Pictures segment, with one or more active participants to jointly finance, produce and/or distribute motion pictures or television programming under which both the subsidiaries and the other active participants share in the risks and rewards of ownership. These arrangements are referred to as co-production Sony typically records an asset for only the portion of the motion pictures or television programming it owns and finances. Sony and the other participants typically distribute the product in different media or markets. Revenues earned and expenses incurred for the media or markets in which Sony distributes the product are typically recorded on a gross basis. Sony typically does not record revenues earned and expenses incurred when the other participants distribute the product. Sony and the other participants typically share in the profits from the distribution of the product in all media or markets. For motion pictures, if Sony is a net receiver of (1) Sony’s share of the profits from the media or markets distributed by the other participants less (2) the other participants’ share of the profits from the media or markets distributed by Sony then the net amount is recorded as net sales. If Sony is a net payer then the net amount is recorded in cost of sales. For television programming, Sony records its share of the profits from the media or markets distributed by the other participants as sales, and the other participants’ share of the profits from the media or markets distributed by Sony as cost of sales. For the fiscal years ended March 31, 2018, 2019 and 2020, 49,547 million yen, 42,343 million yen and 33,921 million yen, respectively, were recorded as net sales for amounts due from the other participants and 24,280 million yen, 22,702 million yen and 21,052 million yen, respectively, were recorded as cost of sales for amounts owed to the other participants in these collaborative arrangements. |
Commitments, contingent liabili
Commitments, contingent liabilities and other | 12 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, contingent liabilities and other | 28. Commitments, contingent liabilities and other (1) Loan commitments Subsidiaries in the Financial Services segment have entered into loan agreements with their customers in accordance with the condition of the contracts. As of March 31, 2020, the total unused portion of the lines of credit extended under these contracts was 34,306 million yen. Based upon the information currently available, it is not possible to estimate the aggregate amounts of future year-by-year (2) Purchase commitments and other Purchase commitments and other outstanding as of March 31, 2020 amounted to 684,911 million yen. The major components of these commitments are as follows: Certain subsidiaries in the Pictures segment have entered into agreements with creative talent for the development and production of motion pictures and television programming as well as agreements with third parties to acquire completed motion pictures, or certain rights therein, and to acquire the rights to broadcast certain live action sporting events. These agreements cover various periods mainly within three years. As of March 31, 2020, these subsidiaries were committed to make payments under such contracts of 126,917 million yen. Certain subsidiaries in the Music segment have entered into contracts with recording artists, songwriters and companies for the future production, distribution and/or licensing of music product. These contracts cover various periods mainly within five years. As of March 31, 2020, these subsidiaries were committed to make payments of 128,678 million yen under such contracts. Certain subsidiaries in the G&NS segment have entered into long-term contracts for the development, distribution and publishing of game software. These contracts cover various periods mainly within eight years. As of March 31, 2020, these subsidiaries were committed to make payments of 29,243 million yen under such contracts. Sony has entered into purchase contracts for fixed assets. As of March 31, 2020, Sony has committed to make payments of 199,145 million yen under such contracts. Sony has entered into purchase contracts for materials. As of March 31, 2020, Sony has committed to make payments of 115,670 million yen under such contracts. Sony has entered into sponsorship contracts related to advertising and promotional rights. These contracts cover various periods mainly within one year. As of March 31, 2020, Sony has committed to make payments of 5,162 million yen under such contracts. The schedule of the aggregate amounts of year-by-year Fiscal year ending March 31 Yen in millions 2021 378,319 2022 103,033 2023 76,541 2024 49,549 2025 36,936 Later fiscal years 40,533 Total 684,911 (3) Litigation Beginning in 2009, the U.S. Department of Justice (“DOJ”), the European Commission and certain other governmental agencies outside the United States have conducted investigations relating to competition in the optical disk drives market. Sony Corporation and/or certain of its subsidiaries have been subject to these investigations. Sony Corporation Corporation Corporation Since 2011, in relation to the secondary batteries business that was operated by Sony Corporation In addition, Sony Corporation and certain of its subsidiaries are defendants or otherwise involved in other pending legal and regulatory proceedings. However, based upon the information currently available, Sony believes that the outcome from such legal and regulatory proceedings would not have a material impact on Sony’s results of operations and financial position. (4) Guarantees Sony has issued guarantees that contingently require payments to guaranteed parties if certain specified events or conditions occur. The maximum potential amount of future payments under these guarantees as of March 31, 2020 amounted to 2,214 million yen. In addition to the above, Sony also issues contractual product warranties under which it generally guarantees the performance of products delivered and services rendered for a certain period or term. The changes in the product warranty liability for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Balance at beginning of the fiscal year 57,694 44,717 33,005 Additional liabilities for warranties 32,179 23,041 21,448 Settlements (in cash or in kind) (30,570 ) (26,326 ) (21,491 ) Changes in estimate for pre-existing (16,802 ) (7,370 ) (562 ) Translation adjustments 2,216 (1,057 ) (593 ) Balance at end of the fiscal year 44,717 33,005 31,807 The consideration received for extended warranty service, which is not a significant portion of the warranty activities provided by Sony, is excluded from the amounts in the table above. |
Business segment information
Business segment information | 12 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Business segment information | 29. Business segment information The reportable segments presented below are the segments of Sony for which separate financial information is available and for which operating profit or loss amounts are evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM does not evaluate segments using discrete asset information. Sony’s CODM is its Chief Executive Officer and President. Sony realigned its business segments from the first quarter of the fiscal year ended March 31, 2020 to reflect modifications to the organizational structure of certain segments and a change in the Senior Executives in charge of certain segments as of April 1, 2019. In connection with this decision, the former Home Entertainment & Sound, Imaging Products & Solutions and Mobile Communications segments have been realigned as the EP&S segment. In connection with this realignment, the sales and operating revenue and operating income (loss) of each segment for the comparative periods have been reclassified to conform to the current presentation. In addition, the former Semiconductors segment has been renamed the I&SS segment effective from the first quarter of the fiscal year ended March 31, 20 20. The G&NS segment includes network services businesses, the manufacture and sales of home gaming products and production and sales of software. 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 non-life Segment sales and operating revenue: Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales and operating revenue: Game & Network Services — Customers 1,848,298 2,224,622 1,919,760 Intersegment 95,514 86,250 57,791 Total 1,943,812 2,310,872 1,977,551 Music — Customers 784,792 795,025 838,592 Intersegment 15,203 12,464 11,317 Total 799,995 807,489 849,909 Pictures — Customers 1,010,173 985,270 1,010,714 Intersegment 894 1,603 1,140 Total 1,011,067 986,873 1,011,854 Electronics Products & Solutions — Customers 2,582,813 2,303,167 1,969,880 Intersegment 17,542 17,461 21,388 Total 2,600,355 2,320,628 1,991,268 Imaging & Sensing Solutions — Customers 726,892 770,622 985,259 Intersegment 123,118 108,708 85,317 Total 850,010 879,330 1,070,576 Financial Services — Customers 1,221,235 1,274,708 1,299,847 Intersegment 7,142 7,831 7,901 Total 1,228,377 1,282,539 1,307,748 All Other — Customers 351,527 299,806 214,999 Intersegment 55,647 45,931 36,421 Total 407,174 345,737 251,420 Corporate and elimination (296,808 ) (267,781 ) (200,441 ) Consolidated total 8,543,982 8,665,687 8,259,885 G&NS intersegment amounts primarily consist of transactions with All Other. I&SS intersegment amounts primarily consist of transactions with the G&NS segment and the EP&S segment. All Other intersegment amounts primarily consist of transactions with the G&NS segment, the Music segment and the Pictures segment. Corporate and elimination includes certain brand and patent royalty income. Segment profit or loss: Yen in millions Fiscal year ended March 31 2018 2019 2020 Operating income (loss): Game & Network Services 177,478 311,092 238,400 Music 127,786 232,487 142,345 Pictures 41,110 54,599 68,157 Electronics Products & Solutions 133,129 76,508 87,276 Imaging & Sensing Solutions 164,023 143,874 235,584 Financial Services 178,947 161,477 129,597 All Other (23,530 ) (11,127 ) 16,288 Total 798,943 968,910 917,647 Corporate and elimination (64,083 ) (74,675 ) (72,188 ) Consolidated operating income 734,860 894,235 845,459 Other income 23,728 144,735 21,949 Other expenses (59,539 ) (27,322 ) (67,958 ) Consolidated income before income taxes 699,049 1,011,648 799,450 Operating income (loss) is sales and operating revenue less costs and expenses, and includes equity in net income (loss) of affiliated companies. Corporate and elimination includes headquarters restructuring costs and certain other corporate expenses, including the amortization of certain intellectual property assets such as the cross-licensing of intangible assets acquired from Ericsson at the time of the Sony Mobile Communications acquisition, which are not allocated to segments. Other significant items: Yen in millions Fiscal year ended March 31 2018 2019 2020 Equity in net income (loss) of affiliated companies: Game & Network Services — — — Music 4,483 (6,915 ) 4,239 Pictures (129 ) 106 (629 ) Electronics Products & Solutions (102 ) (38 ) 136 Imaging & Sensing Solutions — — 0 Financial Services (61 ) (682 ) (104 ) All Other 4,378 4,530 5,995 Consolidated total 8,569 (2,999 ) 9,637 Depreciation and amortization: Game & Network Services 29,091 29,023 29,135 Music 18,230 21,259 29,137 Pictures 24,458 24,081 21,665 Electronics Products & Solutions 64,279 61,749 63,291 Imaging & Sensing Solutions 99,258 110,746 134,035 Financial Services, including deferred insurance acquisition costs 79,843 91,179 106,667 All Other 5,910 4,940 5,095 Total 321,069 342,977 389,025 Corporate 40,375 31,049 27,617 Consolidated total 361,444 374,026 416,642 The following table is a breakdown of sales and operating 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 2018 2019 2020 Sales and operating revenue: Game & Network Services Digital Software and Add-on 762,220 1,102,231 1,010,296 Network Services 270,972 326,524 337,265 Hardware and Others 815,106 795,867 572,199 Total 1,848,298 2,224,622 1,919,760 Music Recorded Music — Streaming 197,439 227,513 276,039 Recorded Music — Others 249,521 199,413 191,114 Music Publishing 74,360 106,666 157,478 Visual Media and Platform 263,472 261,433 213,961 Total 784,792 795,025 838,592 Pictures Motion Pictures 448,945 436,017 475,061 Television Productions 289,024 288,816 301,224 Media Networks 272,204 260,437 234,429 Total 1,010,173 985,270 1,010,714 Electronics Products & Solutions Televisions 861,763 788,423 646,513 Audio and Video 357,194 362,580 346,060 Still and Video Cameras 415,318 421,506 384,142 Mobile Communications 713,916 487,330 362,144 Other 234,622 243,328 231,021 Total 2,582,813 2,303,167 1,969,880 Imaging & Sensing Solutions 726,892 770,622 985,259 Financial Services 1,221,235 1,274,708 1,299,847 All Other 351,527 299,806 214,999 Corporate 18,252 12,467 20,834 Consolidated total 8,543,982 8,665,687 8,259,885 Sony has realigned its product category configuration in regard to the new EP&S segment from the first quarter of the fiscal year ended March 31, 2020. Sony has also realigned its product category configuration in the Music segment with more detailed breakdown in Recorded Music from the fourth quarter of the fiscal year ended March 31, 2020. In connection with these realignments, all prior period sales amounts by product category in the table above have been reclassified to conform to the current presentation. In the G&NS segment, Digital Software and Add-on add-on Blu-ray 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. Within the EP&S segment, the operating loss of Mobile Communications for the fiscal years ended March 31, 2018, 2019 and 2020 was (27,636) million yen, (97,136) million yen and (21,057) million yen, respectively. Geographic Information: Sales and operating revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2018, 2019 and 2020 and property, plant and equipment, net and right-of-use assets as of March 31, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales and operating revenue: Japan 2,625,619 2,591,784 2,472,479 United States 1,835,705 1,982,135 1,864,390 Europe 1,841,457 1,862,166 1,697,791 China 674,718 770,416 845,235 Asia-Pacific 1,024,179 912,193 892,026 Other Areas 542,304 546,993 487,964 Total 8,543,982 8,665,687 8,259,885 Yen in millions March 31 2019 2020 Property, plant and equipment, net and right-of-use assets*: Japan 590,694 946,922 United States 113,581 214,226 Europe 22,622 67,799 China 11,694 17,996 Asia-Pacific 34,273 46,932 Other Areas 4,189 7,379 Total 777,053 1,301,254 * As of March 31, 2020, the amounts include operating lease right-of-use assets, which were recognized from April 1, 2019 onward as a result of the adoption of ASU 2016-02. Major countries and areas in each geographic segment excluding Japan, United States and China are as follows: (1) Europe: United Kingdom, France, Germany, Russia, Spain and Sweden (2) Asia-Pacific: India, South Korea, Oceania, Thailand and Malaysia (3) Other Areas: The Middle East/Africa, Brazil, Mexico and Canada There are no individually material countries with respect to sales and operating revenue or property, plant and equipment, net and right-of-use assets included in Europe, Asia-Pacific and Other Areas. Transfers between reportable business segments or geographic areas are made at individually negotiated prices that are intended to reflect a market-based transfer price. There were no sales and operating revenue with any single major external customer for the fiscal years ended March 31, 2018, 2019 and 2020. |
Subsequent events
Subsequent events | 12 Months Ended |
Mar. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent events | 30. Subsequent events Tender Offer for Common Shares and Stock Acquisition Rights of Sony Financial Holdings Inc. In order to achieve further growth and strengthen governance within its financial services business with the goal of enhancing the corporate value of the overall Sony Group, Sony Corporation resolved, at the meeting of its Board of Directors held on May 19, 2020, to offer to acquire the common shares of Sony Financial Holdings Inc. (“SFH”), a consolidated subsidiary of Sony Corporation, and the related stock acquisition rights through a tender offer (“Tender Offer”), with the aim of making SFH a wholly-owned subsidiary of Sony Corporation, and Sony Corporation commenced the Tender Offer on May 20, 2020. As of May 19, 2020, Sony Corporation held 283,050,000 (Share Holding Ratio: approximately 65%) of SFH’s common shares. If all the SFH shareholders, excluding Sony Corporation, and all the holders of the stock acquisition rights tender their shares and stock acquisition rights to Sony Corporation in the Tender Offer, the total purchase price to be paid by Sony Corporation will be approximately 395,538 million yen. <Overview of Tender Offer> 1. Shares and Stock Acquisition Rights to be purchased: Common shares (excluding SFH’s common shares owned by Sony Corporation and the treasury shares owned by SFH) and the related stock acquisition rights 2. Period: From May 20, 2020 through July 13, 2020 3. Price: 2,600 yen per common share 259,900 yen per unit of stock acquisition right 4. Number of Shares to be purchased (including the number of shares subject to stock acquisition rights): 152,130,036 shares Under the terms of the Tender Offer, the minimum number of shares to be purchased is 7,070,000 shares. If the aggregate number of shares (including shares subject to stock acquisition rights) tendered to Sony Corporation in the Tender Offer is less than the minimum number of shares to be purchased (7,070,000 shares), Sony Corporation will not purchase any of the tendered common shares or |
SCHEDULE II VALUATION AND QUALI
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Mar. 31, 2020 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS | Yen in millions Balance Beginning (Note 3) Additions Deductions Other Balance at end of period Fiscal year ended March 31, 2018: Allowance for doubtful accounts and sales returns 53,150 — 45,515 (51,302 ) 1,300 48,663 Fiscal year ended March 31, 2019: Allowance for doubtful accounts 48,663 (25,114 ) 7,112 (5,532 ) 311 25,440 Fiscal year ended March 31, 2020: Allowance for doubtful accounts 25,440 — 9,006 (6,908 ) (1,665 ) 25,873 Notes: 1. Reversal including amounts written off. 2. Translation adjustments. 3. Sony adopted ASU 2014-09 from April 1, 2018, and as a result, sales returns are presented as a liability instead of as a contra-asset allowance. Accordingly, Sony changed the presentation from “Allowance for doubtful accounts and sales returns” to “Allowance for doubtful accounts” for the fiscal years ended March 31, 2019 and 2020. Yen in millions Balance Additions Deductions Other Balance at end of period Fiscal year ended March 31, 2018: Valuation allowance — Deferred tax assets 1,051,964 70,797 (123,597 ) (99,329 ) 899,835 Fiscal year ended March 31, 2019: Valuation allowance — Deferred tax assets 899,835 116,938 (309,226 ) 15,567 723,114 Fiscal year ended March 31, 2020: Valuation allowance — Deferred tax assets 723,114 53,245 (161,547 ) (6,569 ) 608,243 Note: 1. Translation adjustments and the effect of change in statutory tax rate. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of consolidation and accounting for investments in affiliated companies | Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of Sony Corporation and its majority-owned subsidiary companies, general partnerships and other entities in which Sony has a controlling interest, and variable interest entities (“VIEs”) for which Sony is the primary beneficiary. All intercompany transactions and accounts are eliminated. Investments in business entities in which Sony does not have control, but has the ability to exercise significant influence over operating and financial policies, generally through 20-50% 3-5% On occasion, a consolidated subsidiary or an affiliated company accounted for by the equity method may issue its shares to third parties in either a public or private offering or upon conversion of convertible debt to common stock at amounts per share in excess of or less than Sony’s average per share carrying value. With respect to such transactions, the resulting gains or losses arising from the change in ownership interest are recorded in earnings within the fiscal year in which the change in interest transactions occurs. Gains or losses that result from a loss of a controlling financial interest in a subsidiary are recorded in earnings along with fair value remeasurement gains or losses on any retained investment in the entity, while a change in interest in The excess of the cost over the underlying net equity of investments in consolidated subsidiaries and affiliated companies accounted for on an equity basis is allocated to identifiable tangible and intangible assets and liabilities based on fair values at the date of acquisition. The unassigned residual value of the excess of the cost over Sony’s underlying net equity is recognized as goodwill as a component of the investment balance. |
Use of estimates | Use of estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining the valuation of investment securities, valuation of inventories, fair values of long-lived assets, fair values of goodwill and other intangible assets, fair values of assets and liabilities assumed in business combinations, product warranty liability, pension and severance plans, valuation of deferred tax assets, uncertain tax positions, film costs, and insurance related liabilities. Actual results could significantly differ from those estimates. The timing and extent to which the spread of COVID-19 may negatively impact Sony’s business will depend on future developments, which are highly uncertain. This uncertainty could result in greater variability in accounting estimates and assumptions, including, but not limited to, those used in reviewing goodwill and long-lived assets for impairment and the valuation of deferred tax assets. |
Translation of foreign currencies | Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at appropriate fiscal year end exchange rates and all income and expense accounts are translated at exchange rates that approximate those rates prevailing at the time of the transactions. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income. Upon remeasurement of a previously held equity interest in accordance with the accounting guidance for business combinations achieved in stages, accumulated translation adjustments, if any, are included in earnings. Monetary assets and liabilities denominated in foreign currencies are translated at appropriate fiscal year end exchange rates and the resulting translation gains or losses are recognized into income. |
Cash, cash equivalents and restricted cash | Cash, cash equivalents and restricted cash - Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. Sony includes restricted cash within cash and cash equivalents in the statement of cash flows. |
Marketable debt and equity securities | Marketable debt and equity securities Debt securities designated as available-for-sale unrealized held-to-maturity available-for-sale held-to-maturity Sony regularly evaluates its investment portfolio to identify other-than-temporary impairments of individual debt securities. Factors that are considered by Sony in determining whether an other-than-temporary decline in value has occurred include: the length of time and extent to which the market value of the security has been less than its original cost, the financial condition, operating results, business plans and estimated future cash flows of the issuer of the security, other specific factors affecting the market value, deterioration of the credit condition of the issuer, sovereign risk, and whether or not Sony is able to retain the investment for a period of time sufficient to allow for the anticipated recovery in market value. In evaluating the factors for debt securities designated as available-for-sale, is temporary in nature due to the existence of other factors which overcome the duration or magnitude of the decline. On the other hand, there may be cases where impairment losses are recognized when the decline in the fair value of the security is not more than 20 percent or such decline has not existed for an extended period of time, as a result of considering specific factors which may indicate that the decline in the fair value is other-than-temporary. When an other-than-temporary impairment of a held-to-maturity |
Equity securities that do not have readily determinable fair values | Equity securities that do not have readily determinable fair values - Equity securities that do not have readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. If the value of equity securities that do not have readily determinable fair values is estimated to have declined and such decline is judged to be other-than-temporary, Sony recognizes the impairment of the investment and the carrying value is reduced to its fair value. Determination of impairment is based on the consideration of several factors, including operating results, business plans and estimated future cash flows. Fair value is determined through the use of various methodologies such as discounted cash flows, valuation of recent financings and comparable valuations of similar companies. |
Allowance for doubtful accounts | Allowance for doubtful accounts - Sony maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivables. Sony reviews accounts receivable by amounts due from customers which are past due to identify specific customers with known disputes or collectability issues. In determining the amount of the reserve, Sony makes judgments about the creditworthiness of customers based on past collection experience and ongoing credit risk evaluations. |
Inventories | Inventories - Inventories in the Game & Network Services (“G&NS”), Music, Electronics Products & Solutions (“EP&S”) and Imaging & Sensing Solutions (“I&SS”) segments as well as non-film |
Other receivables | Other receivables - Other receivables include receivables which relate to arrangements with certain component manufacturers whereby Sony procures goods, including product components, for these component manufacturers and is reimbursed for the related purchases. No revenue or profit is recognized on these transfers. Sony will repurchase the inventory at a later date from the component manufacturers as either finished goods inventory or as partially assembled product. |
Film costs | Film costs - Film costs include direct production costs, production overhead and acquisition costs for both motion picture and television productions and are stated at the lower of unamortized cost or estimated fair value and classified as noncurrent assets. Film costs are amortized, and the estimated liabilities for residuals and participations are accrued using an individual-film-forecast method based on the ratio of current period actual revenues to the estimated remaining total revenues. Film costs also include broadcasting rights, which are recognized when the license period begins and the program is available for use, and consist of acquired programming to be aired on Sony’s worldwide channel network. Broadcasting rights are stated at the lower of unamortized cost or net realizable value, classified as either current or noncurrent assets based on timing of expected use. Broadcasting rights are amortized based on estimated usage or on a straight-line basis over the useful life, as appropriate, although broadcasting rights licensed under multi-year live-event sports programming agreements are generally amortized based on the ratio of the current period’s actual advertising revenue and an allocation of subscription fee revenue to the estimated total remaining attributable revenues. Estimates used in calculating the fair value of film costs and the net realizable value of broadcasting rights are based upon assumptions about future demand and market conditions and are reviewed on a periodic basis. |
Property, plant and equipment and depreciation | Property, plant and equipment and depreciation - Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method. Useful lives for depreciation range from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment. Significant renewals and additions are capitalized at cost. Maintenance and repairs, and minor renewals and betterments are charged to income as incurred. |
Leases | Leases - When entering into a contract, Sony determines whether an arrangement contains a lease at its inception. An arrangement contains a lease if it conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease right-of-use right-of-use Right-of-use non-lease . As of April 1, 2019, Sony adopted Accounting Standards Update (“ASU”) 2016-02, which amends leasing guidance, on a modified retrospective basis with no restatement of comparative periods. Prior to the adoption of ASU 2016-02 on April 1, 2019, right-of-use assets and lease liabilities for operating leases were not recognized in Sony’s consolidated balance sheet. For the detailed effect of the adoption of the new standard on Sony’s results of operations and financial position, refer to Note 2 (2) Recently adopted accounting pronouncements. |
Goodwill and other intangible assets | Goodwill and other intangible assets - Goodwill and indefinite lived intangible assets are tested annually for impairment during the fourth quarter of the fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. Such an event or change in circumstances would include unfavorable variances from established business plans, significant changes in forecasted results or volatility inherent to external markets and industries, which are periodically reviewed by Sony’s management. In the fourth quarter of the fiscal year ended March 31, 2020, Sony elected not to perform an optional qualitative assessment of goodwill and instead proceeded directly to a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. Reporting units are Sony’s operating segments or one level below the operating segments. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the total amount of goodwill allocated to the reporting unit. Indefinite lived intangible assets are tested for impairment by comparing the fair value of the intangible asset with its carrying value, and if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of a reporting unit or indefinite lived intangible asset is generally determined using a discounted cash flow analysis. This approach uses significant estimates and assumptions, including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates, earnings multiples, the determination of appropriate comparable entities and the determination of whether a premium or discount should be applied to comparables. Consideration is also given to Sony’s market capitalization in relation to the sum of the calculated fair values of the reporting units, including reporting units with no goodwill, and taking into account corporate level assets and liabilities not assigned to individual reporting units as well as a reasonable control premium. The assumptions used for projected future cash flows and the timing of such cash flows are based on the forecast and mid-range Management believes that the assumptions used to estimate the fair value in the goodwill impairment tests are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, Sony’s estimates and assumptions may evolve as conditions change. Actual results could differ from those estimates. As a result, changes in estimates resulting in lower than currently anticipated cash flows and fair values due to unforeseen changes in assumptions could negatively affect the valuations, which may result in Sony recognizing impairment charges for goodwill and indefinite lived intangible assets in the future. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Intangible assets with finite useful lives mainly consist of patent rights, know-how, internal-use know-how, internal-use |
Capitalized software | Capitalized software - The costs related to establishing the technological feasibility of software to be sold, leased or otherwise marketed are expensed as incurred as a part of research and development in cost of sales. Costs that are incurred to produce the finished product after technological feasibility is established are capitalized and amortized to cost of sales over the estimated economic life, which is generally three years. The technological feasibility of game software is established when the product master is completed. Consideration to capitalize game software development costs before this point is limited to the development costs of games for which technological feasibility can be proven at an earlier stage. At each balance sheet date, Sony performs reviews to ensure that unamortized capitalized software costs remain recoverable from future profits of the related software products. The costs incurred for internal-use |
Deferred insurance acquisition costs | Deferred insurance acquisition costs - Costs that vary with and are directly related to the acquisition or renewal of insurance policies are deferred as long as they are recoverable. The deferred insurance acquisition costs include such items as commissions, medical examination costs and inspection report fees, and are subject to recoverability testing at least annually to ensure that the capitalized amounts do not exceed the present value of anticipated gross profits or premiums less benefits and maintenance expenses, as applicable. The deferred insurance acquisition costs for traditional life insurance contracts are amortized over the premium-paying period of the related insurance policies using assumptions consistent with those used in computing policy reserves. The deferred insurance acquisition costs for non-traditional |
Product warranty | Product warranty - Sony provides for the estimated cost of product warranties at the time revenue is recognized. The product warranty is calculated based upon product sales, estimated probability of failure and estimated cost per claim. The variables used in the calculation of the provision are reviewed on a periodic basis. |
Future insurance policy benefits | Future insurance policy benefits - Liabilities for future insurance policy benefits are primarily comprised of the present value of estimated future payments to policyholders. These liabilities are computed by the net level premium method based upon the assumptions as to future investment yield, morbidity, mortality, withdrawals and other factors. These assumptions are reviewed on a periodic basis. Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. As discussed below in “Fair value measurement,” Sony elected the fair value option for certain of these liabilities for future insurance policy benefits. |
Policyholders' account in the life insurance business | Policyholders’ account in the life insurance business - Liabilities for policyholders’ account in the life insurance business represent the contract value that has accrued to the benefit of the policyholders as of the balance sheet date. This liability is generally equal to the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balances. Liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. As discussed below in “Fair value measurement,” Sony elected the fair value option for certain of these liabilities for policyholders’ account in the life insurance business. |
Impairment of long-lived assets | Impairment of long-lived assets - Sony reviews the recoverability of the carrying value of its long-lived assets held and used, other than goodwill and intangible assets with indefinite lives, and assets to be disposed of, whenever events or changes in circumstances indicate that the individual carrying amount of an asset or asset group may not be recoverable. Long-lived assets to be held and used are reviewed for impairment by comparing the carrying value of the asset or asset group with their estimated undiscounted future cash flows. If the cash flows are determined to be less than the carrying value of the asset or asset group, an impairment loss would be recognized during the period for the amount by which the carrying value of the asset or asset group exceeds estimated fair value. Long-lived assets that are to be disposed of other than by sale are considered held and used until they are disposed of. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less cost to sell and are not depreciated. Fair value is determined using the present value of estimated net cash flows or comparable market values. This approach uses significant estimates and assumptions including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates applied to determine terminal values, determination of appropriate market comparables and the determination of whether a premium or discount should be applied to comparables. Management believes that the estimates of future cash flows and fair values are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. As the extent and duration of the impacts from COVID-19 remain unclear, Sony’s estimates and assumptions may evolve as conditions change. Actual results could differ from those estimates. As a result, changes in estimates resulting in lower future cash flows and fair values due to unforeseen changes in Sony’s businesses or assumptions could negatively affect the valuations of long-lived assets. |
Fair value measurement | Fair value measurement - Sony measures fair value as an exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Sony has elected the fair value option in the banking business for certain foreign securities. The election was made to mitigate accounting mismatches related to fluctuations of foreign exchange rates by allowing the gains and losses on the translation of these securities to be included in current earnings. Sony has also elected the fair value option for certain future insurance policy benefits and policyholders’ account in the life insurance business which are not normally measured at fair value. The election was made to mitigate accounting mismatches related to the changes in the fair value between liabilities for those future insurance policy benefits and policyholders’ account due to changes in the minimum guarantee risk of contracts of variable annuities with minimum guarantee benefits, and the underlying investment managed for policyholders and derivatives. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the certain subsidiary’s current credit spreads, and are recognized in other comprehensive income, net of tax. The accounting guidance for fair value measurements specifies a hierarchy of inputs to valuation techniques based on the extent to which inputs used in measuring fair value are observable in the market. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect Sony’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Observable market data is used if such data is available without undue cost and effort. Each fair value measurement is reported in one of three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 — Inputs are unadjusted quoted prices for identical assets and liabilities in active markets. Level 2 — Inputs are based on observable inputs other than level 1 prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 — One or more significant inputs are unobservable. When available, Sony uses unadjusted quoted market prices in active markets to measure fair value and classifies such items within level 1. If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency rates and option volatilities. Items valued using internally generated models are classified according to the lowest level input that is significant to the valuation. For certain financial assets and liabilities, Sony determines fair value using third-party information such as indicative quotes from dealers and quantitative input from investment advisors following Sony’s established valuation procedures including validation against internally developed prices. Additionally, Sony considers both counterparty credit risk and Sony’s own creditworthiness in determining fair value. Sony attempts to mitigate credit risk to third parties by entering into netting agreements and actively monitoring the creditworthiness of counterparties and its exposure to credit risk through the use of credit limits and by selecting major international banks and financial institutions as counterparties. Transfers between levels are deemed to have occurred at the beginning of the interim period in which the transfers occur. |
Derivative financial instruments | Derivative financial instruments - All derivatives are recognized as either assets or liabilities in the consolidated balance sheets at fair value on a gross basis. Changes in the fair value of derivative financial instruments are either recognized periodically in income or stockholders’ equity (as a component of accumulated other comprehensive income), depending on whether the derivative financial instrument qualifies as a hedge and the derivative is being used to hedge changes in fair value or cash flows. The accounting guidance for hybrid financial instruments permits an entity to elect fair value remeasurement for any hybrid financial instrument if the hybrid instrument contains an embedded derivative that would otherwise be required to be bifurcated and accounted for separately under accounting guidance for derivative instruments and hedging activities. The election to measure the hybrid instrument at fair value is made on an instrument-by-instrument In accordance with accounting guidance for derivative instruments and hedging activities, various derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Changes in the fair value of derivatives designated as fair value hedges for recognized assets or liabilities or unrecognized firm commitments are recognized in earnings as offsets to changes in the fair value of the related hedged assets or liabilities. Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the Derivatives not designated as hedges Changes in the fair value of derivatives that are not designated as hedges are recognized immediately in earnings. Assessment of hedges When applying hedge accounting, Sony formally documents all hedging relationships between the derivatives designated as hedges and the hedged items, as well as its risk management objectives and strategies for undertaking various hedging activities. Sony links all hedges that are designated as fair value or cash flow hedges to specific assets or liabilities on the consolidated balance sheets or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an on-going |
Stock-based compensation | Stock-based compensation - Sony accounts for stock-based compensation using the fair value - |
Revenue recognition | Revenue recognition - Sony recognizes revenue in an amount that reflects the consideration Sony expects in exchange for satisfying performance obligations to transfer the goods or services promised in contracts with customers. This is in accordance with the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) Sony satisfies a performance obligation. Sony owns a variety of intellectual property throughout segments and recognizes revenue through the licensing of such intellectual property. Sony has both functional and symbolic intellectual property. The licensing of functional intellectual property grants a customer a right to use Sony’s intellectual property as it exists at a point in time, and Sony satisfies its performance obligation at the point in time when the customer obtains control and is entitled to benefit from the license. The licensing of symbolic intellectual property grants a customer a right to access Sony’s intellectual property over time, and Sony satisfies its performance obligation over the license period as Sony maintains the intellectual property. Incremental costs of obtaining a contract and costs to fulfill a contract are recognized as assets when Sony expects to recover these costs. The incremental costs of obtaining a contract are those costs that would not have been incurred if the contract had not been obtained. Costs to fulfill a contract are those costs that are directly related to a contract or to an anticipated contract and that generate or enhance resources for Sony to satisfy its performance obligations. Sony applies a practical expedient and recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Performance obligations in contracts for the EP&S and I&SS segments are primarily to deliver various kinds of electronic equipment, instruments and devices to customers. Revenues from these performance obligations are generally recognized when a promised good is delivered to a customer. However, if the sales contract contains a customer acceptance provision, then revenues are recognized when the customer accepts the promised good or when a deemed acceptance occurs by the lapse of time. Revenues are also recognized over time, primarily from the provision of internet broadband network services to subscribers over the subscription period. Revenues are recognized net of anticipated returns and sales incentives. Within the G&NS segment, revenues from hardware, peripherals and software discs are recognized when performance obligations are satisfied by transferring control to the retailer/distributor, net of anticipated returns, sales incentives and cooperative advertising obligations. Revenues from platform licensing to publishers are recognized when physical software discs are delivered. Revenues from digital game content, which is licensed functional intellectual property, are recognized when the digital content is made available for use by the licensee via an online platform, net of anticipated sales incentives and credit card chargebacks. Revenues from digital game content involving multiple performance obligations, such as obligations to make content available on future dates, are allocated to each performance obligation based on the relative standalone selling prices that are observable in the market or Sony’s best estimate. Revenues from subscription fees for digital subscription services are recognized over the subscription period. Within the Music segment, Sony licenses intellectual property that transfer to a customer either a right to use Sony’s intellectual property as it exists at the point in time in which the license is granted, or a right to access Sony’s intellectual property as it exists throughout the license period. Revenues are recognized when the customer has the right to use or access the intellectual property and obtains control of the use or access of that license. Digital revenues include revenues from contracts with digital streaming services typically recognized as a single performance obligation, which is ongoing access to intellectual property in an evolving library of content over the contract term, predicated on: (1) the business practice and contractual ability to remove specific content without a requirement to replace the content and without impact to minimum royalty guarantees and (2) the contracts not containing a specific listing of content subject to the license. For these contracts, revenues are recognized on the basis of sales and usage royalties, except where there is an amount of a minimum royalty guarantee that is not expected to be recouped, or a fixed fee, which is recognized on a straight-line basis over the term of the contract. Revenues from the sale of physical product such as CDs, net of anticipated returns and sales incentives, are recognized when delivery has occurred and the product is available for sale to the public. Within the Pictures segment, revenues from the theatrical exhibition of motion pictures are recognized as the customer exhibits the film. Revenues from the licensing of motion picture and television programming for pay and free television exhibition and other markets are recognized when the product is available for use by the licensee. Revenues for motion picture and television program licensing arrangements involving multiple performance obligations, for example a fee for multiple titles, territories or availability dates, are allocated based on the relative standalone selling price of each performance obligation using Sony’s best estimate based on available information such as market conditions and internal pricing guidelines. Each individual motion picture or television programming product delivered generally represents a separate performance obligation. Licensing revenue associated with certain renewals or extensions of existing agreements for motion pictures and television programming is recognized when the licensee can use and benefit from the content under the renewal or extension. Licensing revenue associated with minimum guarantees for symbolic intellectual property is recognized ratably over the license term. For home entertainment distribution, revenues from the sale of physical product such as DVDs and Blu-ray TM video-on-demand Traditional life insurance policies that the life insurance subsidiary underwrites, most of which are categorized as long-duration contracts, mainly consist of whole life, term life and accident and health insurance contracts. Premiums from these policies are reported as revenue when due from policyholders. Amounts received as payment for non-traditional Property and casualty insurance policies that the non-life Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. |
Cost of sales | Cost of sales - Costs classified as cost of sales relate to the producing and manufacturing of products and include items such as material cost, subcontractor cost, depreciation of fixed assets, amortization of intangible assets, personnel expenses, research and development costs, and amortization of film costs related to motion picture and television productions. |
Research and development costs | Research and development costs - Research and development costs, included in cost of sales, include items such as salaries, personnel expenses and other direct and indirect expenses associated with research and product development. Research and development costs are expensed as incurred. |
Selling, general and administrative | Selling, general and administrative - Costs classified as selling expenses relate to promoting and selling products and include items such as advertising, promotion, shipping and warranty expenses. General and administrative expenses include operating items such as officers’ salaries, personnel expenses, depreciation of fixed assets, office rental for sales, marketing and administrative divisions, a provision for doubtful accounts and amortization of intangible assets. |
Financial services expenses | Financial services expenses - Financial services expenses include a provision for policy reserves and amortization of deferred insurance acquisition costs, and all other operating costs, such as personnel expenses, depreciation of fixed assets, and office rental of subsidiaries, in the Financial Services segment. |
Advertising costs | Advertising costs - Advertising costs are expensed when the advertisement or commercial appears in the selected media. |
Shipping and handling costs | Shipping and handling costs - The majority of shipping and handling, warehousing and internal transfer costs for finished goods are included in selling, general and administrative expenses. An exception to this is in the Pictures segment where such costs are charged to cost of sales as they are an integral part of producing and distributing motion pictures and television programming. All other costs related to Sony’s distribution network are included in cost of sales, including inbound freight charges, purchasing and receiving costs, inspection costs and warehousing costs for raw materials and in-process |
Income taxes | Income taxes - The provision for income taxes is computed based on the pretax income included in the consolidated statements of income, and the tax liability attributed to undistributed earnings of subsidiaries and affiliated companies accounted for by the equity method expected to be remitted in the foreseeable future. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Carrying amounts of deferred tax assets require a reduction by a valuation allowance if, based on the available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically with appropriate consideration given to all positive and negative evidence related to the realization of the deferred tax assets. Management’s judgments related to this assessment consider, among other matters, the nature, frequency and severity of current and cumulative losses on an individual tax jurisdiction basis, forecasts of future profitability after consideration of uncertain tax positions, excess of appreciated asset value over the tax basis of net assets, the duration of statutory carryforward periods, the past utilization of net operating loss carryforwards prior to expiration, as well as prudent and feasible tax planning strategies which would be employed by Sony to prevent net operating loss and tax credit carryforwards from expiring unutilized. Sony records assets and liabilities for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. Sony continues to recognize interest and penalties, if any, with respect to income taxes, including unrecognized tax benefits, as interest expense and as income tax expense, respectively, in the consolidated statements of income. The amount of income taxes Sony pays is subject to ongoing audits by various taxing authorities, which may result in proposed assessments. In addition, several significant items related to intercompany transfer pricing are currently the subject of negotiations between taxing authorities in different jurisdictions as a result of pending advance pricing agreement applications and competent authority requests. Sony’s estimate for the potential outcome for any uncertain tax issues is judgmental and requires significant estimates. Sony assesses its income tax positions and records tax benefits for all years subject to examinations based upon the evaluation of the facts, circumstances and information available at that reporting date. For those tax positions for which it is more likely than not that a tax benefit will be sustained, Sony records the amount that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. If Sony does not believe that it is more likely than not that a tax benefit will be sustained, no tax benefit is recognized. However, Sony’s future results may include favorable or unfavorable adjustments to Sony’s estimated tax liabilities due to closure of income tax examinations, the outcome of negotiations between taxing authorities in different jurisdictions, new regulatory or judicial pronouncements or other relevant events. As a result, the amount of unrecognized tax benefits, and the effective tax rate, may fluctuate significantly. The U.S. Tax Cuts and Jobs Act of 2017 (the “U.S. Tax Reform Act”) subjects a U.S. entity to tax on Global Intangible Low Tax Income (“GILTI”) earned by its foreign subsidiaries. Sony has elected to account for GILTI as a current period expense when incurred. |
Net income (loss) attributable to Sony Corporation's stockholders per share ("EPS") | Net income (loss) attributable to Sony Corporation’s stockholders per share (“EPS”) - Basic EPS is computed based on the weighted-average number of shares of common stock outstanding during each period. The computation of diluted EPS reflects the maximum possible dilution from conversion, exercise, or contingent issuance of securities. All potentially dilutive securities are excluded from the calculation in a situation where there is a net loss attributable to Sony Corporation’s stockholders. |
Recently adopted accounting pronouncements | Leases - In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, As a result of the adoption of this ASU, Sony recognized 316,923 million yen of operating lease right-of-use right-of-use right-of-use right-of-use Premium amortization on purchased callable debt securities - In March 2017, the FASB issued ASU 2017-08, which requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be affected. This ASU was effective for Sony as of April 1, 2019. The adoption of this ASU did not have a material impact on Sony’s results of operations and financial position. Targeted improvements to accounting for hedging activities - In August 2017, the FASB issued ASU 2017-12, non-financial |
Recent accounting pronouncements not yet adopted | (3) Recent accounting pronouncements not yet adopted Measurement of credit losses on financial instruments - In June 2016, the FASB issued ASU 2016-13, Improvements to Accounting for Costs of Films and License Agreements for Program Materials - In March 2019, the FASB issued ASU 2019-02, title-by-title approximately b ap proximately b ies Targeted Improvements to the Accounting for Long-Duration Contracts - In August 2018, the FASB issued ASU 2018-12, 2019-09 2018-12 Disclosures for Fair Value Measurement - In August 2018, the FASB issued ASU 2018-13, Disclosures for Defined Benefit Plans - In August 2018, the FASB issued ASU 2018-14, Income Taxes - In December 2019, the FASB issued ASU 2019-12, which simplifies the accounting requirements for income taxes. This ASU will be effective for Sony as of April 1, 2021 and amendments within this ASU are required to be applied on a prospective basis, except certain amendments must be applied on a retrospective or modified retrospective basis. The impact of this ASU on Sony’s results of operations and financial position is being evaluated. Reference Rate Reform - In March 2020, the FASB issued ASU 2020-04, which provides optional relief for certain contracts impacted by reference rate reform. The relief provided by the amendments is permitted to be adopted any time through December 31, 2022. Sony is still evaluating the impact of reference rate reform and whether to apply the optional relief. |
Reclassifications | (4) Reclassifications Certain reclassifications of the financial statements and accompanying footnotes for the fiscal years ended March 31, 2018 and 2019 have been made to conform to the presentation for the fiscal year ended March 31, 2020. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories are comprised of the following: Yen in millions March 31 2019 2020 Finished products 407,295 345,231 Work in process 154,178 149,969 Raw materials, purchased components and supplies 91,805 94,769 Inventories 653,278 589,969 |
Film costs (Tables)
Film costs (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Other Industries [Abstract] | |
Summary of Film Costs | Film costs are comprised of the following: Yen in millions March 31 2019 2020 Motion picture productions: Released 87,158 99,482 Completed and not released 3,189 18,776 In production and development 130,736 67,199 Television productions: Released 144,316 186,344 In production and development 9,147 25,093 Broadcasting rights 70,401 61,959 Less: current portion included in inventories (35,942 ) (31,517 ) Film costs 409,005 427,336 |
Investments in affiliated com_2
Investments in affiliated companies (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Summarized Combined Financial Information Provided by Equity Investees | The summarized combined financial information that is based on information provided by the equity investees including information for significant equity affiliates and the reconciliation of such information to the consolidated financial statements is shown below: Balance Sheets Yen in millions March 31 2019 2020 Current assets 355,320 389,195 Noncurrent assets 608,626 164,852 Current liabilities 188,905 194,219 Noncurrent liabilities and noncontrolling interests 584,714 60,469 Percentage of ownership in equity investees 20%-50 % 20%-50 % Statements of Income Yen in millions Fiscal year ended March 31 2018 2019 2020 Net revenues 468,933 390,457 387,678 Operating income 56,729 53,920 58,431 Net income attributable to controlling interests 27,301 5,539 34,916 Percentage of ownership in equity investees 20%-50 % 20%-50 % 20%-50 % |
Account Balances and Transactions with Affiliated Companies Accounted for under Equity Method | Account balances and transactions with affiliated companies accounted for under the equity method are presented below. There are no other material transactions or account balances with any other related parties. Yen in millions March 31 2019 2020 Accounts receivable, trade 12,404 12,030 Other receivables 134 1,589 Other current assets 33 9,757 Accounts payable, trade 1,087 1,497 Short-term borrowings 29,744 31,557 Finance lease liabilities and other* 20,265 34,564 Operating lease liabilities — 2,393 * Finance lease liabilities and other were represented as Capital lease obligations as of the fiscal year ended March 31, 2019. Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales 45,415 41,437 35,951 Purchases 3,180 5,584 3,479 |
Marketable securities and sec_2
Marketable securities and securities investments (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value Pertaining to Available-for-Sale Securities and Held-to-Maturity Securities | Marketable securities and securities investments, primarily held in the Financial Services segment, include debt securities for which the aggregate cost, gross unrealized gains and losses and fair value pertaining to available-for-sale held-to-maturity s Yen in millions March 31, 2019 March 31, 2020 Cost Gross Gross Fair value Cost Gross Gross Fair value Debt securities: Available-for-sale securities: Japanese national government bonds 1,422,620 220,989 (20 ) 1,643,589 1,552,036 210,459 (566 ) 1,761,929 Japanese local government bonds 67,461 70 (34 ) 67,497 69,132 73 (33 ) 69,172 Japanese corporate bonds 202,433 17,178 (223 ) 219,388 202,164 19,112 (567 ) 220,709 Foreign government bonds 153,429 8,669 (603 ) 161,495 198,777 81,014 (14 ) 279,777 Foreign corporate bonds 360,299 944 (376 ) 360,867 361,422 507 (2,179 ) 359,750 Securitized products 190,111 1 — 190,112 205,223 0 — 205,223 Other 2,286 2,402 — 4,688 14,398 1,867 (12 ) 16,253 2,398,639 250,253 (1,256 ) 2,647,636 2,603,152 313,032 (3,371 ) 2,912,813 Held-to-maturity Japanese national government bonds 6,042,635 2,016,786 — 8,059,421 6,204,505 2,098,885 (1,397 ) 8,301,993 Japanese local government bonds 3,518 388 — 3,906 2,504 331 — 2,835 Japanese corporate bonds 409,329 44,348 (5,845 ) 447,832 482,050 61,176 (4,754 ) 538,472 Foreign government bonds 386,392 18,609 (13,742 ) 391,259 723,937 302,297 — 1,026,234 Foreign corporate bonds 198 11 — 209 98 7 — 105 Securitized products — — — — 5,418 — (421 ) 4,997 6,842,072 2,080,142 (19,587 ) 8,902,627 7,418,512 2,462,696 (6,572 ) 9,874,636 Total 9,240,711 2,330,395 (20,843 ) 11,550,263 10,021,664 2,775,728 (9,943 ) 12,787,449 |
Cost and Fair Value of Debt Securities Classified as Available-for-Sale Securities and Held-to-Maturity Securities by Contractual Maturity | The following table presents the cost and fair value of debt securities classified as available-for-sale held-to-maturity Yen in millions March 31, 2020 Available-for-sale Held-to-maturity Cost Fair value Cost Fair value Due in one year or less 145,867 146,084 6,075 6,109 Due after one year through five years 432,281 435,443 199,509 217,983 Due after five years through ten years 561,098 637,363 246,072 283,086 Due after ten years 1,463,906 1,693,923 6,966,856 9,367,458 Total 2,603,152 2,912,813 7,418,512 9,874,636 |
Gross Unrealized Losses and Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time in Continuous Unrealized Loss Position | The following tables present the gross unrealized losses on, and fair value of, Sony’s investment securities with unrealized losses, aggregated by investment category and the length of time that individual investment securities have been in a continuous unrealized loss position, at March 31, 2019 and 2020. Yen in millions March 31, 2019 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale securities: Japanese national government bonds — — 4,063 (20 ) 4,063 (20 ) Japanese local government bonds 27,404 (29 ) 4,872 (5 ) 32,276 (34 ) Japanese corporate bonds 25,725 (21 ) 19,925 (202 ) 45,650 (223 ) Foreign government bonds — — 15,878 (603 ) 15,878 (603 ) Foreign corporate bonds 50,281 (117 ) 15,455 (259 ) 65,736 (376 ) Securitized products — — — — — — Other — — — — — — 103,410 (167 ) 60,193 (1,089 ) 163,603 (1,256 ) Held-to-maturity Japanese national government bonds — — — — — — Japanese local government bonds — — — — — — Japanese corporate bonds — — 97,984 (5,845 ) 97,984 (5,845 ) Foreign government bonds — — 151,229 (13,742 ) 151,229 (13,742 ) Foreign corporate bonds — — — — — — — — 249,213 (19,587 ) 249,213 (19,587 ) Total 103,410 (167 ) 309,406 (20,676 ) 412,816 (20,843 ) Yen in millions March 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale securities: Japanese national government bonds 51,746 (539 ) 2,032 (27 ) 53,778 (566 ) Japanese local government bonds 25,010 (10 ) 16,340 (23 ) 41,350 (33 ) Japanese corporate bonds 62,118 (548 ) 10,694 (19 ) 72,812 (567 ) Foreign government bonds — — 1,537 (14 ) 1,537 (14 ) Foreign corporate bonds 86,220 (2,133 ) 18,896 (46 ) 105,116 (2,179 ) Securitized products — — — — — — Other 12,055 (12 ) — — 12,055 (12 ) 237,149 (3,242 ) 49,499 (129 ) 286,648 (3,371 ) Held-to-maturity Japanese national government bonds 134,320 (1,397 ) — — 134,320 (1,397 ) Japanese local government bonds — — — — — — Japanese corporate bonds 98,172 (4,285 ) 3,727 (469 ) 101,899 (4,754 ) Foreign government bonds — — — — — — Foreign corporate bonds — — — — — — Securitized products 5,418 (421 ) — — 5,418 (421 ) 237,910 (6,103 ) 3,727 (469 ) 241,637 (6,572 ) Total 475,059 (9,345 ) 53,226 (598 ) 528,285 (9,943 ) |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Components of lease cost | The components of lease cost are as follows: Yen in millions Fiscal year ended 2020 Finance Lease cost Amortization of right-of-use 10,077 Interest on lease liabilities 1,266 Total finance lease cost 11,343 Operating lease cost 76,863 Short-term lease cost 20,620 Variable lease cost 141 Sublease income (3,860 ) Total lease cost 105,107 |
Summary of Supplemental consolidated balance sheet information related to leases | Supplemental consolidated balance sheet information related to leases is as follows: Yen in millions March 31 2020 Finance leases Current portion of long-term debt 9,240 Long-term debt 29,843 Total finance lease liabilities 39,083 Weighted average remaining lease term Operating leases 9.91 years Finance leases 8.61 years Weighted average discount rate Operating leases 3.147 % Finance leases 2.338 % |
Summary of minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year | The minimum rental payments required under operating leases that have initial or remaining lease terms in excess of one year at March , are as follows: Fiscal year ending March 31 Yen in millions 2020 58,901 2021 48,823 2022 34,726 2023 25,355 2024 22,152 Later fiscal years 78,507 Total minimum future rentals 268,464 |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities as of March 31, 2020 Yen in millions Fiscal year ending March 31 Operating leases Finance leases 2021 76,469 10,213 2022 69,606 7,323 2023 55,648 5,990 2024 40,303 4,689 2025 30,664 3,163 Later fiscal years 152,275 23,088 Total lease payments 424,965 54,466 Less imputed interest 41,187 15,383 Total 383,778 39,083 |
Summary of other information related to leases | Other information related to leases is as follows: Yen in millions Fiscal year ended 2020 Cash paid for amounts included in the measurement of lease liabilities Payments for operating leases, included in cash flows from operating activities 71,612 Payments for finance leases, included in cash flows from financing activities 33,088 Right-of-use 124,380 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets other than Goodwill and Weighted-Average Amortization Period | Intangible assets other than goodwill acquired during the fiscal year ended March 31, 2020 totaled 146,023 million yen, of which 145,596 million yen is subject to amortization, and are comprised of the following: Intangible assets acquired during the fiscal year Weighted-average Yen in millions Years Patent rights, know-how 7,848 8 Software to be sold, leased or otherwise marketed 16,609 3 Internal-use 93,768 4 Music catalogs 19,837 14 Other 7,534 11 |
Intangible Assets Subject to Amortization | Intangible assets subject to amortization are comprised of the following: Yen in millions March 31, 2019 March 31, 2020 Gross carrying Accumulated Gross carrying Accumulated Patent rights, know-how 169,761 (145,525 ) 166,076 (146,051 ) Customer relationships 15,759 (11,825 ) 16,104 (12,467 ) Trademarks 15,768 (9,863 ) 11,152 (6,114 ) Software to be sold, leased or otherwise marketed 125,350 (96,322 ) 141,111 (110,663 ) Internal-use 529,022 (345,935 ) 594,109 (384,236 ) Music catalogs 615,206 (106,725 ) 612,266 (124,787 ) Artist contracts 42,575 (29,108 ) 41,764 (29,017 ) Television carriage contracts (broadcasting agreements) 74,605 (28,685 ) 53,266 (21,645 ) Other 61,675 (49,288 ) 64,456 (51,317 ) Total 1,649,721 (823,276 ) 1,700,304 (886,297 ) |
Estimated Aggregate Amortization Expense for Intangible Assets | The estimated aggregate amortization expense for intangible assets for the next five fiscal years is as follows: Fiscal year ending March 31 Yen in millions 2021 97,978 2022 82,057 2023 66,079 2024 50,098 2025 38,658 |
Total Carrying Amount of Intangible Assets having Indefinite Life | Total carrying amount of intangible assets having an indefinite life is Yen in millions March 31 2019 2020 Trademarks 69,447 69,975 Distribution agreements 18,834 18,834 Other 3,240 3,494 Total 91,521 92,303 |
Changes in Carrying Amount of Goodwill by Segment | The changes in the carrying amount of goodwill by segment for the fiscal years ended March 31, 2019 and 2020 are as follows: G&NS Music Pictures EP&S I&SS Financial All Total Balance, March 31, 2018: Goodwill — gross 150,606 165,700 246,620 194,468 45,793 7,931 27,912 839,030 Accumulated impairments — (306 ) (102,208 ) (181,665 ) — (706 ) (23,653 ) (308,538 ) Goodwill 150,606 165,394 144,412 12,803 45,793 7,225 4,259 530,492 Increase (decrease) due to: Acquisitions * 2,261 240,396 387 — — — — 243,044 Sales and dispositions — — — — — — — — Impairments — — — (776 ) — — (4,331 ) (5,107 ) Translation adjustments 1,088 (2,420 ) 3,673 (73 ) 771 — 72 3,111 Other — — (2,988 ) — — — — (2,988 ) Balance, March 31, 2019: Goodwill — gross 153,955 403,676 252,262 194,416 46,564 7,931 28,570 1,087,374 Accumulated impairments — (306 ) (106,778 ) (182,462 ) — (706 ) (28,570 ) (318,822 ) Goodwill 153,955 403,370 145,484 11,954 46,564 7,225 — 768,552 Increase (decrease) due to: Acquisitions * 17,945 2,956 14,889 364 — 3,609 — 39,763 Sales and dispositions — — (609 ) — — — — (609 ) Impairments — — — — — — — — Translation adjustments (926 ) (13,802 ) (5,410 ) (129 ) (372 ) — — (20,639 ) Other — (1,199 ) (1,980 ) — — — — (3,179 ) Balance, March 31, 2020: Goodwill — gross 170,974 391,631 257,074 194,635 46,192 11,540 28,269 1,100,315 Accumulated impairments — (306 ) (104,700 ) (182,446 ) — (706 ) (28,269 ) (316,427 ) Goodwill 170,974 391,325 152,374 12,189 46,192 10,834 — 783,888 * Acquisitions for the fiscal year ended March 31, 2019 relate mainly to the acquisition of EMI Music Publishing in the Music segment. Acquisitions for the fiscal year ended March 31, 2020 relate mainly to the acquisition of Insomniac Games, Inc. in the G&NS segment, Silvergate Media in the Pictures segment and AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. in the Financial Services segment. Refer to Note 25. |
Insurance-related accounts (Tab
Insurance-related accounts (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Insurance [Abstract] | |
Policyholders' Account in Life Insurance Business | Policyholders’ account in the life insurance business is comprised of the following: Yen in millions March 31 2019 2020 Universal life insurance 2,104,646 2,611,577 Investment contracts 816,903 885,690 Other 126,653 145,004 Total 3,048,202 3,642,271 |
Schedule of Net Amount of Risk by Product and Guarantee | The policyholders’ account value, net amount at risk, liability for the minimum guarantee benefit, and average attained age at March 31, 2019 and 2020 are as follows. Yen in million s March 31, 2019 Variable annuities Variable life insurance contracts Total Policyholder s — 1,092,559 1,092,559 Net amount at risk — 4,334,224 4,334,224 Liability for minimum guarantee benefit — 63,423 63,423 Age March 31 2019 Variable annuities Variable life insurance contracts Average attained age — 44 Yen in million s March 31 , Variable annuities Variable life insurance contracts Total Policyholder s 464,093 1,096,935 1,561,028 Net amount at risk 71,685 4,564,214 4,635,899 Liability for minimum guarantee benefit 64,045 79,860 143,905 Age March 31 2020 Variable annuities Variable life insurance contracts Average attained age 60 45 |
Short-term borrowings and lon_2
Short-term borrowings and long-term debt (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | Short-term borrowings are comprised of the following: Yen in millions March 31 2019 2020 Unsecured loans: with a weighted-average interest rate of 2.52% 55,186 with a weighted-average interest rate of 0.86% 91,725 Repurchase agreement: with a weighted-average interest rate of 0.56% 432,820 with a weighted-average interest rate of 0.93% 567,194 Secured call money: with a weighted-average interest rate of 0.18% 130,612 with a weighted-average interest rate of 0.13% 151,257 618,618 810,176 |
Long-Term Debt | Long-term debt is comprised of the following: Yen in millions March 31 2019 2020 Unsecured loans, representing obligations principally to banks: Due 2019 to 2024, with interest rates ranging from 0.01 % to 7.89 % per annum 57,321 Due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum 17,880 Unsecured 0.05% bonds, due 2019 69,964 Unsecured 2.07% bonds, due 2019 50,000 Unsecured 0.23% bonds, due 2021 89,819 89,894 Unsecured 0.11% bonds, due 2022 10,000 10,000 Unsecured 1.41% bonds, due 2022 10,000 10,000 Unsecured 0.28% bonds, due 2023 15,000 15,000 Unsecured 0.13% bonds, due 2024 29,886 Unsecured 0.22% bonds, due 2025 10,000 10,000 Unsecured 0.42% bonds, due 2026 24,911 24,923 Unsecured 0.18% bonds, due 2026 10,000 Unsecured 0.30% bonds, due 2029 59,738 Unsecured zero coupon convertible bonds, due 2022: Conversion price 5,008.0 yen per common share 119,961 Conversion price 4,996.0 yen per common share 119,531 Secured 0.00% loans, due 2020 to 2023 200,003 201,205 Finance lease liabilities and other*: Due 2019 to 2048, with interest rates ranging from 0.36% to 9.14% per annum 72,991 Due 2020 to 2050, with interest rates ranging from 0.01% to 12.59% per annum 56,350 Guarantee deposits received 10,863 10,366 740,833 664,773 Less — Portion due within one year 172,461 29,807 568,372 634,966 * Finance lease liabilities and other were represented as Capital lease obligations and other as of the fiscal year ended March 31, 2019. |
Aggregate Amounts of Annual Maturities of Long-Term Debt | Aggregate amounts of annual maturities of long-term debt are as follows: Fiscal year ending March 31 Yen in millions 2021 29,807 2022 159,102 2023 229,617 2024 81,041 2025 43,923 Later fiscal years 121,283 Total 664,773 |
Housing loans and deposits fr_2
Housing loans and deposits from customers in the banking business (Tables) | Nov. 15, 2019 |
Banking and Thrift [Abstract] | |
Aggregate Amounts of Annual Maturities of Time Deposits with Remaining Term of More Than One Year | At March 31, 2020, aggregate amounts of annual maturities of time deposits with a remaining term of more than one year are as follows: Fiscal year ending March 31 Yen in millions 2022 39,145 2023 16,102 2024 10,513 2025 3,238 2026 2,190 Later fiscal years 12,823 Total 84,011 |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2019 and 2020 are as follows. Yen in millions March 31, 2019 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 22,105 212,012 — 234,117 234,117 — — — Available-for-sale Japanese national government bonds — 1,643,589 — 1,643,589 18,719 1,624,870 — — Japanese local government bonds — 67,497 — 67,497 7,768 59,729 — — Japanese corporate bonds — 219,388 — 219,388 11,472 207,916 — — Foreign government bonds *1 — 161,495 — 161,495 3,984 157,511 — — Foreign corporate bonds *2 — 338,163 22,704 360,867 90,801 270,066 — — Securitized products *3 — 25,029 165,083 190,112 — 190,112 — — Other — 4,688 — 4,688 — 4,688 — — Equity securities 1,037,100 135,794 — 1,172,894 951,390 221,504 — — Other investments *4 5,489 1,507 6,918 13,914 — 13,914 — — Derivative assets *5 444 10,042 — 10,486 — — 9,431 1,055 Total assets 1,065,138 2,819,204 194,705 4,079,047 1,318,251 2,750,310 9,431 1,055 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future insurance policy benefits Policyholders’ account Other current liabilities Other noncurrent liabilitie Liabilities: Derivative liabilities *5 136 32,686 — 32,822 — — 19,852 12,970 Total liabilities 136 32,686 — 32,822 — — 19,852 12,970 Yen in millions March 31, 2020 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 24,330 245,790 — 270,120 270,120 — — — Available-for-sale Japanese national government bonds — 1,761,929 — 1,761,929 10,011 1,751,918 — — Japanese local government bonds — 69,172 — 69,172 15,334 53,838 — — Japanese corporate bonds — 220,679 30 220,709 14,774 205,935 — — Foreign government bonds *1 — 279,777 — 279,777 2,690 277,087 — — Foreign corporate bonds *2 — 343,980 15,770 359,750 94,156 265,594 — — Securitized products *3 — 33,383 171,840 205,223 — 205,223 — — Other — 4,152 12,101 16,253 — 16,253 — — Equity securities 950,744 581,642 — 1,532,386 1,434,612 97,774 — — Other investments *4 7,162 816 9,242 17,220 — 17,220 — — Derivative assets *5 1,310 41,073 — 42,383 — — 40,784 1,599 Total assets 983,546 3,582,393 208,983 4,774,922 1,841,697 2,890,842 40,784 1,599 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future insurance policy benefits Policyholders’ account Other current liabilities Other noncurrent liabilities Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 532,191 532,191 64,045 468,146 — — Derivative liabilities *5 2,077 33,789 — 35,866 — — 16,814 19,052 Total liabilities 2,077 33,789 532,191 568,057 64,045 468,146 16,814 19,052 *1 4,910 million yen and 7,771 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020 . *2 173,964 million yen and 188,426 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020, respectively. In the consolidated balance sheets, 33,391 million yen and 34,502 million yen are included as marketable securities and 140,573 million yen and 153,924 million yen are included as securities investment and other for the fiscal years ended March 31, 2019 and 2020, respectively. *3 185,195 million yen and 193,430 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2019 and 2020, respectively, and are included in the consolidated balance sheets as securities investments and other. *4 Other investments include certain hybrid financial instruments and certain private equity investments. *5 Derivative assets and liabilities are recognized and disclosed on a gross basis. *6 Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. Net gains of 85 million yen and net loss of 12,408 million yen arising from assets and liabilities |
Changes in Fair Value of Level Three Assets and Liabilities | The changes in fair value of level 3 assets and liabilities for the fiscal years ended March 31, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31, 2019 Assets Liabilities Debt securities Future Policyholders’ Available-for-sale securities Japanese Foreign Securitized Other Other Beginning balance — 27,878 83,614 — 9,104 — Total realized and unrealized gains (losses): Included in earnings *1 — 465 562 — 276 — Included in other comprehensive income *2 — 131 1 — — — Purchases and Issuances — 5,787 94,696 — 4 — Sales — — — — (6 ) — Settlements — (10,435 ) (13,601 ) — (2,460 ) — Transfers into level 3 *3 — 20,863 5,284 — — — Transfers out of level 3 *4 — (21,985 ) (5,473 ) — — — Ending balance — 22,704 165,083 — 6,918 — Changes in unrealized gains (losses) Included in earnings *1 — 219 510 — 441 — Yen in millions Fiscal year ended March 31, 2020 Assets Liabilities Debt securities Future s ’ account Available-for-sale securities Japanese Foreign Securitized Other Other Beginning balance — 22,704 165,083 — 6,918 — Acquisition of AEGON Sony Life Insurance Co., *5 — — — — — 547,190 Total realized and unrealized gains (losses): Included in earnings *1 — 311 (18,151 ) — (500 ) 12,500 Included *2 — (73 ) 1 — — 3,032 Purchases and Issuances 30 13,597 40,175 12,101 4,711 5,295 Sales — — — — (9 ) — Settlements — (20,867 ) (12,967 ) — (1,878 ) (4,762 ) Transfers into level 3 *3 — 3,374 — — — — Transfers out of level 3 *4 — (3,276 ) (2,301 ) — — — Ending balance 30 15,770 171,840 12,101 9,242 532,191 Changes in unrealized gains (losses) relating to instruments still held at reporting date: Included in earnings *1 — (94 ) (16,507 ) — (376 ) 10,273 *1 Earning effects are included in financi a *2 Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale securities and included in debt valuation adjustments for future insurance policy benefits and policyholders’ account in the consolidated statements of comprehensive income. *3 Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. *4 Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. *5 Refer to Note 25 |
Assets and Liabilities Remeasured at Fair Value on a Nonrecurring Basis | During the fiscal years ended March 31, 2019 and 2020, such remeasurements to fair value related primarily to the following: During the fiscal year ended March 31, 2019 Estimated fair value Amounts included in earnings Level 1 Level 2 Level 3 Assets: Long-lived assets impairments — — 4,389 (44,135 ) Goodwill impairment — — 0 (5,107 ) (49,242 ) During the fiscal year ended March 31, 2020 Estimated fair value Amounts included in earnings Level 1 Level 2 Level 3 Assets: Remeasurement of retained investment in SRE 15,911 — — 13,347 Long-lived assets impairments — — 8,155 (36,003 ) (22,656 ) |
Estimated Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments not Reported at Fair Value | The estimated fair values by fair value hierarchy level of certain financial instruments that are not reported at fair value are summarized as follows: Yen in millions March 31, 2019 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 1,861,384 — 1,861,384 1,685,504 Total assets — 1,861,384 — 1,861,384 1,685,504 Liabilities: Long-term debt including the current portion — 737,529 — 737,529 740,833 Investment contracts included in policyholders’ account in the life insurance business — 877,157 — 877,157 816,903 Total liabilities — 1,614,686 — 1,614,686 1,557,736 Yen in millions March 31, 2020 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 2,161,432 — 2,161,432 1,927,054 Total assets — 2,161,432 — 2,161,432 1,927,054 Liabilities: Long-term debt including the current portion — 699,358 — 699,358 664,773 Investment contracts included in policyholders’ account in the life insurance business — 969,464 — 969,464 885,690 Total liabilities — 1,668,822 — 1,668,822 1,550,463 |
Derivative instruments and he_2
Derivative instruments and hedging activities (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Estimated Fair Values of Outstanding Derivative Instruments | The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows: Derivatives designated as hedging Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2019 2020 Liability derivatives 2019 2020 Interest rate contracts Prepaid expenses and other current assets 10 9 Current liabilities: Other 141 183 Interest rate contracts Other assets: Other 101 27 Liabilities: Other 8,274 8,177 Foreign exchange contracts Prepaid expenses and other current assets 131 1,799 Current liabilities: Other 42 — 242 1,835 8,457 8,360 Derivatives not designated as Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2019 2020 Liability derivatives 2019 2020 Interest rate contracts Prepaid expenses and other current assets 39 44 Current liabilities: Other 344 200 Interest rate contracts Other assets: Other 882 1,523 Liabilities: Other 3,637 9,120 Foreign exchange contracts Prepaid expenses and other current assets 8,807 19,655 Current liabilities: Other 11,549 14,580 Foreign exchange contracts Other assets: Other 72 49 Liabilities: Other 1,059 1,755 Equity contracts Prepaid expenses and other current assets 444 18,886 Current liabilities: Other 7,776 1,476 Bond contracts Prepaid expenses and other current assets — 306 Current liabilities: Other — 290 Commodity contracts Prepaid expenses and other current assets — 85 Current liabilities: Other — 85 10,244 40,548 24,365 27,506 Total derivatives 10,486 42,383 32,822 35,866 |
Effects of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income | Presented below are the effects of derivative instruments on the consolidated statements of income and the consolidated statements of comprehensive income for the fiscal years ended March 31, 2018, 2019 and 2020. Derivatives under fair value hedging relationships Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2018 2019 2020 Interest rate contracts Financial services revenue (52 ) (1,835 ) (3,925 ) Total (52 ) (1,835 ) (3,925 ) Yen in millions Derivatives under cash flow hedging relationships Fiscal year ended March 31 2018 2019 2020 Amounts recognized in unrealized gains (losses) on derivative instruments in OCI Foreign exchange contracts : Components included in the assessment of hedge effectiveness (2,295 ) 2,315 1,712 Components excluded from the assessment of hedge effectiveness that were recognized based on amortization approach — — 1,087 Total (2,295 ) 2,315 2,799 Derivatives under cash flow hedging relationships Yen in millions Affected line item in consolidated statements of income Fiscal year ended March 31 2018 2019 2020 Amounts reclassified from unrealized Foreign exchange contracts : Components included in the assessment of hedge effectiveness Cost of sales 1,111 (1,093 ) — Net sales — — 106 Components excluded from the assessment of hedge effectiveness that were recognized based on amortization approach Net sales — — (1,087 ) Total 1,111 (1,093 ) (981 ) Derivatives not designated as Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2018 2019 2020 Interest rate contracts Financial services revenue (1,544 ) (3,192 ) 1,190 Foreign exchange contracts Financial services revenue 2,013 (8,198 ) 2,473 Foreign exchange contracts Foreign exchange loss, net 21,370 (7,437 ) 10,184 Equity contracts Financial services revenue (11,665 ) (7,649 ) 15,438 Bond contracts Financial services revenue — — (2,954 ) Commodity contracts Financial services revenue — — 110 Total 10,174 (26,476 ) 26,441 Presented below are the amortized cost of hedged items, which are available-for-sale debt securities, and cumulative amount of fair value hedging adjustments to hedged items under fair value hedging relationships as of March 31, 2020. Derivatives under hedging relationships Yen in millions Balance sheet location of hedged items March 31, 2020 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 15,255 — Interest rate contracts Securities investments and other 91,080 — Total 106,335 — |
Summary of Derivatives Additional Information Including Notional Amounts | The following table summarizes additional information, including notional amounts, for each type of derivative: Yen in millions March 31, 2019 March 31, 2020 Notional Fair value Notional Fair value Foreign exchange contracts: Foreign exchange forward contracts 701,880 (304 ) 740,464 4,361 Currency option contracts purchased 53,846 179 473 7 Currency option contracts written 58,825 (35 ) 460 (5 ) Currency swap agreements 959,777 (5,564 ) 893,874 (1,006 ) Other currency contracts 68,513 2,084 62,080 1,811 Interest rate contracts: Interest rate swap agreements 339,934 (11,346 ) 994,133 (16,019 ) Interest rate swaption agreements 5,300 (18 ) 18,700 (58 ) Equity contracts: Equity future contracts 58,725 308 63,354 (871 ) Equity swap agreements 63,107 (7,640 ) 103,409 18,281 Bond contracts: Bond — — 56,546 16 Commodity contracts: Commodity future contracts — — 1,465 0 |
Summary of Effects of Offsetting Derivative Assets, Derivative Liabilities, Financial Assets and Financial Liabilities | Yen in millions As of March 31, 2019 Gross amounts balance sheet Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 6,855 3,442 136 3,277 Derivative assets not subject to master netting agreements 3,631 3,631 Total assets 10,486 3,442 136 6,908 Derivative liabilities subject to master netting agreements 25,872 3,970 20,191 1,711 Derivative liabilities not subject to master netting agreements 6,950 6,950 Repurchase, securities lending and similar arrangements 432,820 432,820 — — Total liabilities 465,642 436,790 20,191 8,661 Yen in millions As of March 31, 2020 Gross amounts presented in the consolidated balance sheet Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 38,281 12,614 20,545 5,122 Derivative assets not subject to master netting agreements 4,102 4,102 Total assets 42,383 12,614 20,545 9,224 Derivative liabilities subject to master netting agreements 31,896 7,086 23,873 937 Derivative liabilities not subject to master netting agreements 3,970 3,970 Repurchase, securities lending and similar arrangements 567,194 564,874 — 2,320 Total liabilities 603,060 571,960 23,873 7,227 |
Pension and severance plans (Ta
Pension and severance plans (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Costs | The components of net periodic benefit costs for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Japanese plans Yen in millions Fiscal year ended March 31 2018 2019 2020 Service cost 25,185 23,128 17,948 Interest cost 8,024 7,020 4,162 Expected return on plan assets (16,440 ) (16,695 ) (17,040 ) Recognized actuarial loss 16,099 15,365 12,969 Amortization of prior service costs (8,693 ) (7,864 ) (4,294 ) Losses on curtailments and settlements — — 6,358 Net periodic benefit costs 24,175 20,954 20,103 Foreign plans Yen in millions Fiscal year ended March 31 2018 2019 2020 Service cost 3,181 2,780 3,616 Interest cost 10,393 10,083 9,212 Expected return on plan assets (11,687 ) (11,797 ) (10,916 ) Amortization of net transition asset 5 — — Recognized actuarial loss 3,014 2,656 2,606 Amortization of prior service costs (574 ) (269 ) 2 Losses on curtailments and settlements 1,058 1,804 68 Net periodic benefit costs 5,390 5,257 4,588 |
Changes in Benefit Obligation and Plan Assets as well as Funded Status and Composition of Amounts Recognized in Consolidated Balance Sheets | The changes in the benefit obligation and plan assets as well as the funded status and composition of amounts recognized in the consolidated balance sheets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Change in benefit obligation: Benefit obligation at beginning of the fiscal year 1,010,574 1,034,954 356,397 351,918 Service cost 23,128 17,948 2,780 3,616 Interest cost 7,020 4,162 10,083 9,212 Plan participants’ contributions — — 462 487 Plan amendments — — — 10,210 Actuarial (gain) loss 29,295 (3,330 ) 1,700 19,776 Foreign currency exchange rate changes — — (1,554 ) (16,919 ) Curtailments and settlements — (359,205 ) (6,120 ) (4,434 ) Effect of changes in consolidated subsidiaries — — 1,947 — Other 6 2 — — Benefits paid (35,069 ) (35,668 ) (13,777 ) (14,055 ) Benefit obligation at end of the fiscal year 1,034,954 658,863 351,918 359,811 Change in plan assets: Fair value of plan assets at beginning of the fiscal year 711,077 742,204 269,745 274,749 Actual return on plan assets 18,701 2,942 15,243 26,738 Foreign currency exchange rate changes — — (838 ) (14,904 ) Employer contribution 36,875 7,453 8,542 9,916 Plan participants’ contributions — — 462 487 Curtailments and settlements — (284,333 ) (5,960 ) (3,146 ) Benefits paid (24,449 ) (31,060 ) (12,445 ) (12,730 ) Fair value of plan assets at end of the fiscal year 742,204 437,206 274,749 281,110 Funded status at end of the fiscal year (292,750 ) (221,657 ) (77,169 ) (78,701 ) |
Amounts Recognized in Consolidated Balance Sheets | Amounts recognized in the consolidated balance sheets consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Noncurrent assets 3,476 3,391 14,745 24,777 Current liabilities — — (4,412 ) (4,355 ) Noncurrent liabilities (296,226 ) (225,048 ) (87,502 ) (99,123 ) Ending balance (292,750 ) (221,657 ) (77,169 ) (78,701 ) |
Amounts Recognized in Accumulated Other Comprehensive Income, Excluding Tax Effect | Amounts recognized in accumulated other comprehensive income, excluding tax effects, consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Prior service cost (credit) (8,859 ) (369 ) (45 ) 10,058 Net actuarial loss 311,128 223,354 71,906 66,326 Ending balance 302,269 222,985 71,861 76,384 |
Accumulated Benefit Obligations for All Defined Benefit Pension Plans | The accumulated benefit obligations for all defined benefit pension plans were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Accumulated benefit obligations 1,029,910 654,209 336,185 354,100 |
Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets | The projected benefit obligations, the accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2019 2020 2019 2020 Projected benefit obligations 1,022,235 645,544 200,596 230,058 Accumulated benefit obligations 1,017,191 640,890 196,928 226,080 Fair value of plan assets 726,009 420,497 123,937 130,955 |
Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs | Weighted-average assumptions used to determine benefit obligations as of March 31, 2019 and 2020 were as follows: Japanese plans Foreign plans March 31 March 31 2019 2020 2019 2020 Discount rate 0.6 % 0.6 % 2.8 % 2.0 % Rate of compensation increase * * 2.3 2.2 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Weighted-average assumptions used to determine the net periodic benefit costs for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2018 2019 2020 2018 2019 2020 Discount rate 0.9 % 0.8 % 0.6 % 3.1 % 2.9 % 2.8 % Expected return on plan assets 2.4 2.6 2.6 4.6 4.4 4.2 Rate of compensation increase * * * 2.4 2.6 2.3 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. |
Fair Values of Assets Held by Japanese and Foreign Plans | The fair values of the assets held by Japanese and foreign plans, which are classified in accordance with the fair value hierarchy described in Note 2, are as follows: Japanese plans Yen in millions Fair value at March 31, 2019 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 10,689 10,689 — — Equity: Equity securities *1 140,559 135,713 4,846 — Fixed income: Government bonds *2 210,817 — 210,817 — Corporate bonds *3 97,519 — 97,519 — Asset-backed securities *4 1,537 — 1,537 — Commingled funds *5 138,455 — 138,455 — Commodity funds *6 21,674 — 21,674 — Private equity *7 27,956 — — 27,956 Hedge funds *8 71,606 — — 71,606 Real estate and other *9 21,392 — — 21,392 Total 742,204 146,402 474,848 120,954 Japanese plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 24,851 24,851 — — Equity: Equity securities *1 50,646 47,308 3,338 — Fixed income: Government bonds *2 107,478 1,087 106,391 — Corporate bonds *3 71,192 20 71,172 — Asset-backed securities *4 1,090 — 1,090 — Commingled funds *5 58,740 — 58,740 — Commodity funds *6 21,823 — 21,823 — Private equity *7 30,191 — — 30,191 Hedge funds *8 48,410 — — 48,410 Real estate and other *9 22,785 — (2,586 ) 25,371 Total 437,206 73,266 259,968 103,972 *1 Includes approximately 51 percent and 37 percent of Japanese equity securities, and 49 percent and 63 percent of foreign equity securities for the fiscal years ended March 31, 2019 and 2020, respectively. *2 Includes approximately 48 percent and 36 percent of debt securities issued by Japanese national and local governments, and 52 percent and 64 percent of debt securities issued by foreign national and local governments for the fiscal years ended March 31, 2019 and 2020, respectively. *3 Includes debt securities issued by Japanese and foreign corporation and government related agencies. *4 Includes primarily mortgage-backed securities. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 percent and 50 percent of investments in equity, 49 percent and 45 percent of investments in fixed income, and 1 percent and 5 percent of investments in other for the fiscal years ended March 31, 2019 and 2020, respectively. *6 Represents commodity futures funds. *7 Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. *8 Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. *9 Includes primarily private real estate investment trusts. Foreign plans Yen in millions Fair value at 2019 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,340 4,340 — — Equity: Equity securities *1 23,766 23,113 653 — Fixed income: Government bonds *2 84,761 — 84,761 — Corporate bonds *3 32,749 — 32,749 — Asset-backed securities 1,115 — 1,115 — Insurance contracts *4 18,308 — 5,814 12,494 Commingled funds *5 76,503 — 76,503 — Real estate and other *6 33,207 — 11,118 22,089 Total 274,749 27,453 212,713 34,583 Foreign plans Yen in millions Fair value at 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,632 4,632 — — Equity: Equity securities *1 18,380 17,762 618 — Fixed income: Government bonds *2 93,826 — 93,826 — Corporate bonds *3 31,769 — 31,769 — Asset-backed securities 1,320 — 1,320 — Insurance contracts *4 19,334 — 7,156 12,178 Commingled funds *5 78,280 — 78,280 — Real estate and other *6 33,569 — 11,272 22,297 Total 281,110 22,394 224,241 34,475 *1 Includes primarily foreign equity securities. *2 Includes primarily foreign government debt securities. *3 Includes primarily foreign corporate debt securities. *4 Represents annuity contracts with or without profit sharing. *5 Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. *6 Includes primarily private real estate investment trusts. |
Summary of Changes in Fair Values of Japanese and Foreign Plans' Level Three Assets | The following table sets forth a summary of changes in the fair values of Japanese and foreign plans’ level 3 assets for the fiscal years ended March 31, 2019 and 2020: Japanese plans Yen in millions Fair value measurement using significant unobservable inputs (Level 3) Private equity Hedge funds Real estate and other Total Beginning balance at April 1, 2018 24,144 70,204 19,431 113,779 Return on assets held at end of year 4,428 659 1,622 6,709 Purchases, sales, and settlements, net (616 ) 743 339 466 Ending balance at March 31, 2019 27,956 71,606 21,392 120,954 Return on assets held at end of year 2,649 (648 ) 418 2,419 Purchases, sales, and settlements, net (414 ) (22,548 ) 3,561 (19,401 ) Ending balance at March 31, 2020 30,191 48,410 25,371 103,972 Foreign plans Yen in millions Fair value measurement using significant unobservable inputs (Level 3) Insurance Corporate bonds Real estate and other Total Beginning balance at April 1, 2018 12,729 5,303 25,976 44,008 Return on assets held at end of year 736 — 559 1,295 Purchases, sales, and settlements, net (389 ) — (3,809 ) (4,198 ) Transfers, net — (5,540 ) 123 (5,417 ) Other * (582 ) 237 (760 ) (1,105 ) Ending balance at March 31, 2019 12,494 — 22,089 34,583 Return on assets held at end of year 559 — 132 691 Purchases, sales, and settlements, net (373 ) — 755 382 Transfers, net — — — — Other * (502 ) — (679 ) (1,181 ) Ending balance at March 31, 2020 12,178 — 22,297 34,475 * Primarily consists of translation adjustments. |
Expected Future Benefit Payments | The expected future benefit payments are as follows: Japanese plans Foreign plans Fiscal year ending March 31 Yen in millions Yen in millions 2021 37,384 20,825 2022 36,228 104,988 2023 36,985 12,089 2024 38,271 12,269 2025 37,216 13,074 2026 — 2030 185,218 112,218 |
Total Defined Contribution Expenses | Total defined contribution expenses for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Japanese plans 3,237 3,353 6,925 Foreign plans 11,379 11,602 10,313 |
Stockholders' equity (Tables)
Stockholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Changes in Number of Shares of Common Stock Issued and Outstanding | Changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2018, 2019 and 2020 have resulted from the following: Number of shares Balance at March 31, 2017 1,263,763,660 Issuance of new shares 218,000 Exercise of stock acquisition rights 2,565,700 Conversion of convertible bonds 4,789 Balance at March 31, 2018 1,266,552,149 Issuance of new shares 149,900 Exercise of stock acquisition rights 4,525,300 Conversion of convertible bonds 2,992 Balance at March 31, 2019 1,271,230,341 Issuance of new shares 184,900 Exercise of stock acquisition rights 2,294,900 Conversion of convertible bonds 86,040 Cancellation of treasury stock (12,737,400 ) Balance at March 31, 2020 1,261,058,781 |
Changes in Accumulated Other Comprehensive Income, Net of Tax | Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Unrealized Unrealized Pension Foreign Total Balance at March 31, 2017 126,635 (58 ) (308,736 ) (436,610 ) (618,769 ) Other comprehensive income before reclassifications 2,013 (2,295 ) 1,779 (4,480 ) (2,983 ) Amounts reclassified out of accumulated other comprehensive income * (943 ) 1,111 10,611 (1,855 ) 8,924 Net other comprehensive income 1,070 (1,184 ) 12,390 (6,335 ) 5,941 Less: Other comprehensive income attributable to noncontrolling interests 1,514 — 98 2,306 3,918 Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Yen in millions Unrealized Unrealized Pension Adjustment Foreign Total Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Cumulative effect of ASU2016-01 (15,526 ) — — — (15,526 ) Other comprehensive income before reclassifications 33,124 2,316 (23,448 ) 10,071 22,063 Amounts reclassified out of accumulated other comprehensive income * 161 (1,093 ) 9,488 (1,627 ) 6,929 Net other comprehensive income 33,285 1,223 (13,960 ) 8,444 28,992 Less: Other comprehensive income attributable to noncontrolling interests 8,915 — 53 (1,578 ) 7,390 Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) (610,670 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) — (610,670 ) Other comprehensive income before reclassifications 40,334 1,193 (17,519 ) (75,814 ) 3,032 (48,774 ) Amounts reclassified out of accumulated other comprehensive income * 56 74 92,490 (74 ) — 92,546 Net other comprehensive income 40,390 1,267 74,971 (75,888 ) 3,032 43,772 Less: Other comprehensive income attributable to noncontrolling interests 14,234 — 34 (1,245 ) 1,059 14,082 Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) * Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. |
Reclassifications Out of Accumulated Other Comprehensive Income | Reclassifications out of accumulated other comprehensive income for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Comprehensive income components Amounts reclassified from Affected line items in consolidated statements of income 2018 2019 2020 Unrealized gains (losses) on securities (646 ) 235 82 Financial services revenue (561 ) — — Gain on sale of securities investments, net Total before tax (1,207 ) 235 82 Tax expense or (benefit) 264 (74 ) (26 ) Net of tax (943 ) 161 56 Unrealized gains (losses) on derivative instruments 1,111 (1,093 ) — Cost of sales — — 106 Net sales Total before tax 1,111 (1,093 ) 106 Tax expense or (benefit) — — (32 ) Net of tax 1,111 (1,093 ) 74 Pension liability adjustment 11,034 9,891 92,514 * Tax expense or (benefit) (423 ) (403 ) (24 ) Net of tax 10,611 9,488 92,490 Foreign currency translation adjustments (1,855 ) (1,627 ) (74 ) Foreign exchange loss, net and other operating (income) expense, net Tax expense or (benefit) — — — Net of tax (1,855 ) (1,627 ) (74 ) Total amounts reclassified out of accumulated other comprehensive income, net of tax 8,924 6,929 92,546 * The amortization of pension and postretirement benefit components is |
Net Income Attributable to Sony Corporation's Stockholders and Transfers (to) from Noncontrolling Interests | Net income attributable to Sony Corporation’s stockholders and transfers (to) from the noncontrolling interests for the fiscal years ended March 31, 2018, 2019 and 2020 were as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Net income attributable to Sony Corporation’s stockholders 490,794 916,271 582,191 Transfers (to) from the noncontrolling interests: Increase (decrease) in additional paid-in (74 ) (22,775 ) 16,372 Change from net income attributable to Sony Corporation’s stockholders and transfers (to) from the noncontrolling interests 490,720 893,496 598,563 |
Stock-based compensation plans
Stock-based compensation plans (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Weighted-Average Assumptions used to Determine Fair Value of Stock Acquisition Rights Granted | The fair value of stock acquisition rights granted on the date of grant and used to recognize compensation expense for the fiscal years ended March 31, 2018, 2019 and 2020 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Fiscal year ended March 31 2018 2019 2020 Weighted-average assumptions Risk-free interest rate 1.14 % 1.37 % 0.70 % Expected lives 6.55 years 5.98 years 5.73 years Expected volatility * 38.49 % 32.52 % 29.30 % Expected dividends 0.40 % 0.35 % 0.32 % * Expected volatility was based on the historical volatilities of Sony Corporation’s common stock over the expected life of the stock acquisition rights. |
Summary of Activities Regarding Stock Acquisition Rights Plan | A summary of the activities regarding the stock acquisition rights plan during the fiscal year ended March 31, 2020 is as follows: Fiscal year ended March 31, 2020 Number of Weighted- Weighted- Total intrinsic value Yen Years Yen in millions Outstanding at beginning of the fiscal year 12,213,900 3,665 Granted 3,279,700 6,669 Exercised 2,294,900 3,294 Forfeited or expired 322,000 5,500 Outstanding at end of the fiscal year 12,876,700 4,982 7.52 19,459 Exercisable at end of the fiscal year 6,235,700 3,581 6.43 15,552 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Receivables from contracts with customers, Contract Assets and Contract Liabilities | Receivables from contracts with customers, contract assets and contract liabilities are comprised of the following: Yen in millions March 3 2019 March 31, 2020 Receivables from contracts with customers *1 1,183,115 1,126,597 Contract assets *1 19,147 13,985 Contract liabilities *2 254,646 271,286 *1 Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. *2 Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. |
Summary of Remaining Performance Obligations that are Unsatisfied | The following table shows the summary of the transaction prices allocated to remaining performance obligations that are unsatisfied at March 31, 2020, of which more than half are expected to be recognized within one year and substantially all within three years. Yen in millions March 31, 2020 Pictures — Motion Pictures and Television Productions *1 569,081 Pictures — Media Networks 22,333 Music *2 44,971 Others 47,126 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. |
Schedule of Contract Costs | Contract costs are comprised as follows: Yen in millions March 31 2019 March 31, 2020 Incremental costs of obtaining a contract 6,581 7,464 |
Restructuring charges (Tables)
Restructuring charges (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Changes in Accrued Restructuring Charges | The changes in the accrued restructuring charges for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Employee Non-cash * Other Total Balance at March 31, 2017 11,634 — 9,167 20,801 Restructuring costs 18,999 2,233 1,147 22,379 Non-cash — (2,233 ) — (2,233 ) Cash payments (9,950 ) — (6,352 ) (16,302 ) Adjustments (1,197 ) — 226 (971 ) Balance at March 31, 2018 19,486 — 4,188 23,674 Restructuring costs 24,449 2,731 5,825 33,005 Non-cash — (2,731 ) — (2,731 ) Cash payments (19,150 ) — (2,555 ) (21,705 ) Adjustments 955 — (357 ) 598 Balance at March 31, 2019 25,740 — 7,101 32,841 Restructuring costs 22,957 100 1,653 24,710 Non-cash — (100 ) — (100 ) Cash payments (23,385 ) — (6,703 ) (30,088 ) Adjustments (674 ) — (131 ) (805 ) Balance at March 31, 2020 24,638 — 1,920 26,558 * Significant asset impairments excluded from restructuring charges are described in Note 13. |
Total Costs Incurred in Connection with Restructuring Programs by Segment | Total costs incurred in connection with these restructuring programs by segment for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31, 2018 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 6,358 272 6,630 — 6,630 Pictures 2,922 — 2,922 — 2,922 Electronics Products & Solutions 3,384 118 3,502 0 3,502 Imaging & Sensing Solutions 28 — 28 — 28 Financial Services — — — — — All Other and Corporate 6,307 2,990 9,297 26 9,323 Total 18,999 3,380 22,379 26 22,405 Yen in millions Fiscal year ended March 31, 2019 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 2,991 201 3,192 — 3,192 Pictures 4,795 — 4,795 — 4,795 Electronics Products & Solutions 11,437 4,574 16,011 86 16,097 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 5,226 3,781 9,007 — 9,007 Total 24,449 8,556 33,005 86 33,091 Yen in millions Fiscal year ended March 31, 2020 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 3,179 6 3,185 — 3,185 Pictures 545 — 545 — 545 Electronics Products & Solutions 14,500 227 14,727 — 14,727 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 4,733 1,520 6,253 256 6,509 Total 22,957 1,753 24,710 256 24,966 * Other associated costs includes non-cash |
Supplemental consolidated sta_2
Supplemental consolidated statements of income information (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Components of Other Operating (Income) Expense, Net | Other operating (income) Yen in millions March 31 2018 2019 2020 Gain on sale of Sony City Osaki *1 (4,914 ) — — Gain on remeasurement of EMI shares *2 — (116,939 ) — Gain on remeasurement and sale of SRE shares *3 — — (17,266 ) Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares *4 — — (1,827 ) (Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net *5 (29,613 ) (1,557 ) (12,801 ) (Gain) loss on sale, disposal or impairment of assets, net *6 38,599 46,928 29,778 Other — — (1,495 ) 4,072 (71,568 ) (3,611 ) *1 A portion of gain on sale and leaseback transactions is deferred and is amortized on a straight-line basis over the lease term. *2 Refer to Notes 5 and 25. *3 Refer to Note 5. *4 Refer to Notes 5 and 25. *5 Refer to Notes 25 and 26. *6 Refer to Notes 9, 13, 20 and 26. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Components of Domestic and Foreign Income and Provision for Current and Deferred Income Taxes | Domestic and foreign components of income before income taxes and the provision for current and deferred income taxes attributable to such income are summarized as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Income before income taxes: Sony Corporation and all subsidiaries in Japan 436,494 310,020 466,253 Foreign subsidiaries 262,555 701,628 333,197 699,049 1,011,648 799,450 Income taxes—Current: Sony Corporation and all subsidiaries in Japan 69,697 82,081 105,755 Foreign subsidiaries 57,988 84,667 66,636 127,685 166,748 172,391 Income taxes—Deferred: Sony Corporation and all subsidiaries in Japan 29,640 17,907 9,421 Foreign subsidiaries (5,555 ) (139,557 ) (4,622 ) 24,085 (121,650 ) 4,799 Total income tax expense 151,770 45,098 177,190 |
Reconciliation of Statutory Tax Rate and Effective Tax Rate | A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: Fiscal year ended March 31 2018 2019 2020 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.8 0.7 0.3 Income tax credits (0.6 ) (1.6 ) (1.7 ) Change in statutory tax rate and law (1.2 ) (0.3 ) (0.4 ) Change in valuation allowances (other than the 2019 reversal of Sony Americas Holding Inc. (“SAHI”) and its U.S. consolidated tax filing group below) (5.2 ) 2.3 (8.1 ) The 2019 reversal of valuation allowances of SAHI and its U.S. consolidated tax filing group — (15.3 ) — Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures (0.8 ) (0.1 ) 0.2 Lower tax rate applied to life and non-life (0.8 ) (0.5 ) (0.6 ) Foreign income tax differential (2.6 ) (6.4 ) (2.4 ) Adjustments to tax reserves (0.8 ) (0.3 ) 0.9 Effect of equity in net income of affiliated companies 0.0 0.0 0.0 The remeasurement gain for the equity interest in EMI — (2.4 ) — Japan controlled foreign company taxation — 0.0 5.3 Other 1.4 (3.1 ) (2.8 ) Effective income tax rate 21.7 % 4.5 % 22.2 % |
Components of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31 2019 2020 Deferred tax assets: Operating loss carryforwards for tax purposes 413,494 348,714 Accrued pension and severance costs 103,652 77,559 Amortization including film costs 86,196 65,349 Lease liability — 100,720 Warranty reserves and accrued expenses 108,515 116,234 Future insurance policy benefits 36,683 42,056 Inventory 19,716 15,512 Depreciation 34,638 39,085 Tax credit carryforwards 117,471 94,900 Loss on equity securities — 11,815 Reserve for doubtful accounts 9,136 9,090 Impairment of investments 12,278 6,029 Deferred revenue 19,081 24,420 Other 169,897 122,591 Gross deferred tax assets 1,130,757 1,074,074 Less: Valuation allowance (723,114 ) (608,243 ) Total deferred tax assets 407,643 465,831 Deferred tax liabilities: Insurance acquisition costs (169,244 ) (170,868 ) Future insurance policy benefits (181,052 ) (193,315 ) Unbilled accounts receivable in the Pictures segment (44,842 ) (26,214 ) Right-of-use assets — (96,970 ) Unrealized gains on securities (75,573 ) (92,791 ) Gain on equity securities (33,082 ) — Intangible assets acquired through stock exchange offerings (23,949 ) (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (93,979 ) (89,909 ) Undistributed earnings of foreign subsidiaries and corporate joint ventures (15,758 ) (25,359 ) Investment in M3 (37,007 ) (38,303 ) Other (62,092 ) (47,319 ) Gross deferred tax liabilities (736,578 ) (804,997 ) Net deferred tax liabilities (328,935 ) (339,166 ) |
Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits | A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows: Yen in millions March 31 2018 2019 2020 Balance at beginning of the fiscal year 119,529 95,425 50,577 Reductions for tax positions of prior years (8,809 ) (31,396 ) (331 ) Additions for tax positions of prior years 4,681 3,094 162 Additions based on tax positions related to the current year 5,740 2,594 8,074 Settlements (21,893 ) (4,235 ) (13,240 ) Lapse in statute of limitations (3,469 ) (14,824 ) (1,251 ) Foreign currency translation adjustments (354 ) (81 ) (2,723 ) Balance at end of the fiscal year 95,425 50,577 41,268 Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate 39,308 35,004 29,539 |
Reconciliation of the differe_2
Reconciliation of the differences between basic and diluted EPS (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Reconciliation of Differences between Basic and Diluted EPS | Reconciliation of the differences between basic and diluted EPS for the fiscal years ended March 31, 2018, 2019 and 2020 is as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Net income attributable to Sony Corporation’s stockholders for basic and diluted EPS computation 490,794 916,271 582,191 Thousands of shares Weighted-average shares outstanding 1,263,895 1,266,592 1,234,408 Effect of dilutive securities: Stock acquisition rights 4,565 4,088 3,853 Zero coupon convertible bonds 23,960 23,966 23,994 Weighted-average shares for diluted EPS computation 1,292,420 1,294,646 1,262,255 Yen Basic EPS 388.32 723.41 471.64 Diluted EPS 379.75 707.74 461.23 |
Variable interest entities (Tab
Variable interest entities (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of the Carrying Value of the Variable Interests | The following tables present the carrying value of the variable interests of unconsolidated VIEs, the presentation in the consolidated balance sheet, and the maximum exposure to loss associated with these variable interests as of March 31, 2019 and 2020. Maximum exposure to loss does not reflect Sony’s estimate of the actual losses that could result from adverse changes, nor does it reflect the economic hedges Sony enters into to reduce its exposure. The risks associated with VIEs in which Sony is involved are limited to the amount recorded in the consolidated balance sheets and the amount of commitments. Yen in millions March 31, 2019 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid expenses and other current assets Equity securities *1 135,552 8,485 — 146,031 Securitized products — 191,049 — 195,190 Foreign corporate bonds *2 29,889 65,503 — 95,392 Other investments — 4,688 21,000 25,688 Total 165,441 269,725 21,000 462,301 Yen in millions March 31, 2020 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid expenses and other current assets Equity securities *1 579,773 6,229 — 587,602 Securitized products — 210,641 — 210,641 Foreign corporate bonds *2 41,452 41,036 — 82,488 Other investments — 16,253 21,000 43,719 Total 621,225 274,159 21,000 924,450 *1 Equity securities include Investment funds. *2 Foreign corporate bonds include repackaged bonds. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Business Acquisition [Line Items] | |
Summary of Purchase Price Allocation | Yen in millions Acquired assets (Preliminary) Measurement Acquired assets (Final) Cash and cash equivalents 12,971 12,971 Notes and accounts receivable, trade and contract assets 32,287 32,287 Prepaid expenses and other current assets 10,220 (98 ) 10,122 Securities investments and other 1,476 1,476 Intangibles, net 420,534 420,534 Goodwill 237,271 (1,206 ) 236,065 Other 10,023 10,023 Total assets 724,782 (1,304 ) 723,478 Notes and accounts payable, trade 1,731 1,731 Accounts payable, other and accrued expenses 70,675 70,675 Accrued income and other taxes 3,082 (69 ) 3,013 Long-term debt 148,621 148,621 Accrued pension and severance costs 1,947 1,947 Deferred income taxes 94,849 (1,235 ) 93,614 Other 5,564 5,564 Total liabilities 326,469 (1,304 ) 325,165 |
Unaudited Supplemental Pro Forma Financial Information | The following unaudited supplemental pro forma financial information presents the combined results of operations of Sony and EMI as though the acquisition had occurred as of the beginning of the fiscal year ended March 31, 2018: Yen in millions, Yen per share amounts Fiscal year ended March 31 2018 2019 Net sales 8,612,280 8,738,209 Operating income 854,786 801,973 Net income attributable to Sony Corporation’s stockholders 584,019 817,629 Per share data: — Basic EPS 462.08 645.53 — Diluted EPS 451.88 631.55 |
Acquisition of equity interests in joint ventures in the life insurance business | |
Business Acquisition [Line Items] | |
Summary of Purchase Price Allocation | The following table summarizes the fair values assigned to the assets and liabilities of the JVs that were recorded in the Financial Services segment. Yen in millions Cash and cash equivalents 27,380 Marketable securities 530,851 Prepaid expenses and other current assets 21,933 Securities investments and other 15,329 Goodwill 3,609 Other 406 Total assets 599,508 Future insurance policy benefits and other 66,599 Policyholders’ account in the life insurance business 495,248 Other 4,979 Total liabilities 566,826 |
Commitments, contingent liabi_2
Commitments, contingent liabilities and other (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Aggregate Amounts of Year-by-Year Payment of Purchase Commitments | The schedule of the aggregate amounts of year-by-year Fiscal year ending March 31 Yen in millions 2021 378,319 2022 103,033 2023 76,541 2024 49,549 2025 36,936 Later fiscal years 40,533 Total 684,911 |
Changes in Product Warranty Liability | In addition to the above, Sony also issues contractual product warranties under which it generally guarantees the performance of products delivered and services rendered for a certain period or term. The changes in the product warranty liability for the fiscal years ended March 31, 2018, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Balance at beginning of the fiscal year 57,694 44,717 33,005 Additional liabilities for warranties 32,179 23,041 21,448 Settlements (in cash or in kind) (30,570 ) (26,326 ) (21,491 ) Changes in estimate for pre-existing (16,802 ) (7,370 ) (562 ) Translation adjustments 2,216 (1,057 ) (593 ) Balance at end of the fiscal year 44,717 33,005 31,807 |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Components of Segment Sales and Operating Revenue | Segment sales and operating revenue: Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales and operating revenue: Game & Network Services — Customers 1,848,298 2,224,622 1,919,760 Intersegment 95,514 86,250 57,791 Total 1,943,812 2,310,872 1,977,551 Music — Customers 784,792 795,025 838,592 Intersegment 15,203 12,464 11,317 Total 799,995 807,489 849,909 Pictures — Customers 1,010,173 985,270 1,010,714 Intersegment 894 1,603 1,140 Total 1,011,067 986,873 1,011,854 Electronics Products & Solutions — Customers 2,582,813 2,303,167 1,969,880 Intersegment 17,542 17,461 21,388 Total 2,600,355 2,320,628 1,991,268 Imaging & Sensing Solutions — Customers 726,892 770,622 985,259 Intersegment 123,118 108,708 85,317 Total 850,010 879,330 1,070,576 Financial Services — Customers 1,221,235 1,274,708 1,299,847 Intersegment 7,142 7,831 7,901 Total 1,228,377 1,282,539 1,307,748 All Other — Customers 351,527 299,806 214,999 Intersegment 55,647 45,931 36,421 Total 407,174 345,737 251,420 Corporate and elimination (296,808 ) (267,781 ) (200,441 ) Consolidated total 8,543,982 8,665,687 8,259,885 |
Components of Segment Profit or Loss | Segment profit or loss: Yen in millions Fiscal year ended March 31 2018 2019 2020 Operating income (loss): Game & Network Services 177,478 311,092 238,400 Music 127,786 232,487 142,345 Pictures 41,110 54,599 68,157 Electronics Products & Solutions 133,129 76,508 87,276 Imaging & Sensing Solutions 164,023 143,874 235,584 Financial Services 178,947 161,477 129,597 All Other (23,530 ) (11,127 ) 16,288 Total 798,943 968,910 917,647 Corporate and elimination (64,083 ) (74,675 ) (72,188 ) Consolidated operating income 734,860 894,235 845,459 Other income 23,728 144,735 21,949 Other expenses (59,539 ) (27,322 ) (67,958 ) Consolidated income before income taxes 699,049 1,011,648 799,450 |
Components of Other Significant Items | Other significant items: Yen in millions Fiscal year ended March 31 2018 2019 2020 Equity in net income (loss) of affiliated companies: Game & Network Services — — — Music 4,483 (6,915 ) 4,239 Pictures (129 ) 106 (629 ) Electronics Products & Solutions (102 ) (38 ) 136 Imaging & Sensing Solutions — — 0 Financial Services (61 ) (682 ) (104 ) All Other 4,378 4,530 5,995 Consolidated total 8,569 (2,999 ) 9,637 Depreciation and amortization: Game & Network Services 29,091 29,023 29,135 Music 18,230 21,259 29,137 Pictures 24,458 24,081 21,665 Electronics Products & Solutions 64,279 61,749 63,291 Imaging & Sensing Solutions 99,258 110,746 134,035 Financial Services, including deferred insurance acquisition costs 79,843 91,179 106,667 All Other 5,910 4,940 5,095 Total 321,069 342,977 389,025 Corporate 40,375 31,049 27,617 Consolidated total 361,444 374,026 416,642 |
Sales and Operating Revenue to External Customers by Product Category | The following table is a breakdown of sales and operating 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 2018 2019 2020 Sales and operating revenue: Game & Network Services Digital Software and Add-on 762,220 1,102,231 1,010,296 Network Services 270,972 326,524 337,265 Hardware and Others 815,106 795,867 572,199 Total 1,848,298 2,224,622 1,919,760 Music Recorded Music — Streaming 197,439 227,513 276,039 Recorded Music — Others 249,521 199,413 191,114 Music Publishing 74,360 106,666 157,478 Visual Media and Platform 263,472 261,433 213,961 Total 784,792 795,025 838,592 Pictures Motion Pictures 448,945 436,017 475,061 Television Productions 289,024 288,816 301,224 Media Networks 272,204 260,437 234,429 Total 1,010,173 985,270 1,010,714 Electronics Products & Solutions Televisions 861,763 788,423 646,513 Audio and Video 357,194 362,580 346,060 Still and Video Cameras 415,318 421,506 384,142 Mobile Communications 713,916 487,330 362,144 Other 234,622 243,328 231,021 Total 2,582,813 2,303,167 1,969,880 Imaging & Sensing Solutions 726,892 770,622 985,259 Financial Services 1,221,235 1,274,708 1,299,847 All Other 351,527 299,806 214,999 Corporate 18,252 12,467 20,834 Consolidated total 8,543,982 8,665,687 8,259,885 |
Sales and Operating Revenue Attributed to Countries and Areas Based on Location of External Customers and Long-Lived Assets | Sales and operating revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2018, 2019 and 2020 and property, plant and equipment, net and right-of-use assets as of March 31, 2019 and 2020 are as follows: Yen in millions Fiscal year ended March 31 2018 2019 2020 Sales and operating revenue: Japan 2,625,619 2,591,784 2,472,479 United States 1,835,705 1,982,135 1,864,390 Europe 1,841,457 1,862,166 1,697,791 China 674,718 770,416 845,235 Asia-Pacific 1,024,179 912,193 892,026 Other Areas 542,304 546,993 487,964 Total 8,543,982 8,665,687 8,259,885 Yen in millions March 31 2019 2020 Property, plant and equipment, net and right-of-use assets*: Japan 590,694 946,922 United States 113,581 214,226 Europe 22,622 67,799 China 11,694 17,996 Asia-Pacific 34,273 46,932 Other Areas 4,189 7,379 Total 777,053 1,301,254 * As of March 31, 2020, the amounts include operating lease right-of-use assets, which were recognized from April 1, 2019 onward as a result of the adoption of ASU 2016-02. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Apr. 01, 2020 | Apr. 01, 2019 | |
Summary Of Significant Accounting Policies [Line Items] | |||
Description of evaluating factors in relation to available for sale securities | if the fair value of the security is 20 percent or more below its original cost for an extended period of time (generally for a period of up to six months) | ||
Percentage of other-than-temporary fair value of security | 20.00% | ||
Operating lease right-of-use assets | ¥ 359,510 | ¥ 316,923 | |
Lease liabilities for operating leases | ¥ 383,778 | 341,251 | |
Deferred rent for leases | ¥ 24,328 | ||
Subsequent event | Accounting Standards Update 2019 02 [Member] | Pictures [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Reclassification of broadcasting rights to fim costs | ¥ 24,100 | ||
Subsequent event | Accounting Standards Update 2019 02 [Member] | Music [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Reclasificaiton of animation Film Production Costs to film costs | ¥ 7,400 | ||
Software to be sold, leased or otherwise marketed | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Amortization period of intangible assets | 3 years | ||
Minimum | Buildings | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful lives for depreciation | 2 years | ||
Minimum | Machinery, equipment and others | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful lives for depreciation | 2 years | ||
Minimum | Patent rights; know-how; license agreements; trademarks; software to be sold, leased or otherwise marketed, and internal-use software | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Amortization period of intangible assets | 3 years | ||
Minimum | Customer relationships, music catalogs, artist contracts and television carriage contracts (broadcasting agreements) | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Amortization period of intangible assets | 10 years | ||
Maximum | Buildings | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful lives for depreciation | 50 years | ||
Maximum | Machinery, equipment and others | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful lives for depreciation | 10 years | ||
Maximum | Patent rights; know-how; license agreements; trademarks; software to be sold, leased or otherwise marketed, and internal-use software | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Amortization period of intangible assets | 10 years | ||
Maximum | Customer relationships, music catalogs, artist contracts and television carriage contracts (broadcasting agreements) | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Amortization period of intangible assets | 44 years |
Inventories (Summary of Invento
Inventories (Summary of Inventories) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Inventory Disclosure [Abstract] | ||
Finished products | ¥ 345,231 | ¥ 407,295 |
Work in process | 149,969 | 154,178 |
Raw materials, purchased components and supplies | 94,769 | 91,805 |
Inventories | ¥ 589,969 | ¥ 653,278 |
Film Costs (Summary of Film Cos
Film Costs (Summary of Film Costs) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Motion picture productions: | ||
Released | ¥ 99,482 | ¥ 87,158 |
Completed and not released | 18,776 | 3,189 |
In production and development | 67,199 | 130,736 |
Television productions: | ||
Released | 186,344 | 144,316 |
In production and development | 25,093 | 9,147 |
Broadcasting rights | 61,959 | 70,401 |
Less: current portion included in inventories | (31,517) | (35,942) |
Film costs | ¥ 427,336 | ¥ 409,005 |
Film Costs - Additional Informa
Film Costs - Additional Information (Detail) ¥ in Billions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Film Costs [Abstract] | |
Unamortized film costs of released motion picture and television productions | 92.00% |
Completed film costs expected to be amortized during the next twelve months | ¥ 217 |
Accrued participation liabilities expected to be paid in next twelve months | ¥ 163 |
Investments in Affiliated Com_3
Investments in Affiliated Companies (Summarized Combined Financial Information Provided by Equity Investees) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Jan. 29, 2020 | Dec. 31, 2019 | Dec. 19, 2019 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Current assets | ¥ 389,195 | ¥ 355,320 | ||||
Noncurrent assets | 164,852 | 608,626 | ||||
Current liabilities | 194,219 | 188,905 | ||||
Noncurrent liabilities and noncontrolling interests | 60,469 | 584,714 | ||||
Percentage of ownership in equity investees | 50.00% | 44.50% | 56.30% | |||
Net revenues | 387,678 | 390,457 | ¥ 468,933 | |||
Operating income | 58,431 | 53,920 | 56,729 | |||
Net income attributable to controlling interests | ¥ 34,916 | ¥ 5,539 | ¥ 27,301 | |||
Minimum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Percentage of ownership in equity investees | 20.00% | 20.00% | 20.00% | |||
Maximum | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Percentage of ownership in equity investees | 50.00% | 50.00% | 50.00% |
Investments in Affiliated Com_4
Investments in Affiliated Companies - Additional Information (Detail) ¥ in Millions | 12 Months Ended | |||||||
Mar. 31, 2020JPY (¥)Entity | Mar. 31, 2019JPY (¥)Entity | Mar. 31, 2018JPY (¥) | Jan. 29, 2020 | Dec. 31, 2019 | Dec. 19, 2019 | Nov. 14, 2018 | Apr. 01, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | 44.50% | 56.30% | |||||
Gain Loss on remeasurement or sale of shares | ¥ 17,266 | |||||||
Aggregate carrying value of investments in several affiliated companies | 141,508 | |||||||
Fair value of investments in several affiliated companies | ¥ 756,073 | |||||||
Number of affiliated companies accounted for under the equity method | Entity | 140 | 133 | ||||||
Dividends received from affiliated companies | ¥ 4,523 | ¥ 4,948 | ¥ 5,613 | |||||
DH Publishing, L.P. | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 60.00% | |||||||
Sony Life Insurance Co Ltd | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | |||||||
SA Reinsurance Ltd | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | |||||||
M3, Inc. | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Difference between carrying value and underlying net assets | ¥ 56,140 | |||||||
Difference between carrying value and underlying net assets, accounting treatment for amounts allocated to intangible assets | The amounts allocated to intangible assets are amortized net of the related tax effects to equity in net income (loss) of affiliated companies over their respective estimated useful lives, principally 10 years, using the straight-line method. | |||||||
SFI Leasing Company, Limited | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 34.00% | |||||||
MITSUI-SOKO Supply Chain Solutions, Inc | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 34.00% | |||||||
MITSUI-SOKO Supply Chain Solutions, Inc | General and Administrative Expenses | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Related party transaction, amounts of transaction | ¥ 6,069 | 10,606 | ||||||
MITSUI-SOKO Supply Chain Solutions, Inc | Accrued Expenses | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Related party transaction, account balances | ¥ 1,181 | ¥ 3,435 |
Investments in Affiliated Com_5
Investments in Affiliated Companies (Account Balances and Transactions with Affiliated Companies Accounted for under Equity Method) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Apr. 01, 2019 | ||
Schedule of Equity Method Investments [Line Items] | |||||
Short-term borrowings | ¥ 810,176 | ¥ 618,618 | |||
Finance lease liabilities and other | 39,083 | ||||
Operating lease liabilities | 383,778 | ¥ 341,251 | |||
Equity Method Investee | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Accounts receivable, trade | 12,030 | 12,404 | |||
Other receivables | 1,589 | 134 | |||
Other current assets | 9,757 | 33 | |||
Accounts payable, trade | 1,497 | 1,087 | |||
Short-term borrowings | 31,557 | 29,744 | |||
Finance lease liabilities and other | [1] | 34,564 | 20,265 | ||
Operating lease liabilities | 2,393 | ||||
Sales | 35,951 | 41,437 | ¥ 45,415 | ||
Purchases | ¥ 3,479 | ¥ 5,584 | ¥ 3,180 | ||
[1] | Finance lease liabilities and other were represented as Capital lease obligations as of the fiscal year ended March 31, 2019. |
Transfer of Financial Assets -
Transfer of Financial Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Transfers and Servicing [Abstract] | |||
Trade accounts receivable sold | ¥ 65,214 | ¥ 81,947 | ¥ 84,718 |
Marketable Securities and Sec_3
Marketable Securities and Securities Investments (Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value Pertaining to Available-for-Sale Securities and Held-to-Maturity Securities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | ¥ 7,418,512 | ¥ 6,842,072 |
Held-to-maturity securities, Gross unrealized gains | 2,462,696 | 2,080,142 |
Held-to-maturity securities, Gross unrealized losses | (6,572) | (19,587) |
Held-to-maturity securities, Fair value | 9,874,636 | 8,902,627 |
Marketable securities and securities investments, Cost | 10,021,664 | 9,240,711 |
Marketable securities and securities investments, Gross unrealized gains | 2,775,728 | 2,330,395 |
Marketable securities and securities investments, Gross unrealized losses | (9,943) | (20,843) |
Marketable securities and securities investments, Fair value | 12,787,449 | 11,550,263 |
Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 2,603,152 | 2,398,639 |
Available-for-Sale securities, Gross unrealized gains | 313,032 | 250,253 |
Available-for-Sale securities, Gross unrealized losses | (3,371) | (1,256) |
Available-for-Sale securities, Fair value | 2,912,813 | 2,647,636 |
Japanese national government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 6,204,505 | 6,042,635 |
Held-to-maturity securities, Gross unrealized gains | 2,098,885 | 2,016,786 |
Held-to-maturity securities, Gross unrealized losses | (1,397) | |
Held-to-maturity securities, Fair value | 8,301,993 | 8,059,421 |
Japanese national government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 1,552,036 | 1,422,620 |
Available-for-Sale securities, Gross unrealized gains | 210,459 | 220,989 |
Available-for-Sale securities, Gross unrealized losses | (566) | (20) |
Available-for-Sale securities, Fair value | 1,761,929 | 1,643,589 |
Japanese local government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 2,504 | 3,518 |
Held-to-maturity securities, Gross unrealized gains | 331 | 388 |
Held-to-maturity securities, Fair value | 2,835 | 3,906 |
Japanese local government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 69,132 | 67,461 |
Available-for-Sale securities, Gross unrealized gains | 73 | 70 |
Available-for-Sale securities, Gross unrealized losses | (33) | (34) |
Available-for-Sale securities, Fair value | 69,172 | 67,497 |
Japanese corporate bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 482,050 | 409,329 |
Held-to-maturity securities, Gross unrealized gains | 61,176 | 44,348 |
Held-to-maturity securities, Gross unrealized losses | (4,754) | (5,845) |
Held-to-maturity securities, Fair value | 538,472 | 447,832 |
Japanese corporate bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 202,164 | 202,433 |
Available-for-Sale securities, Gross unrealized gains | 19,112 | 17,178 |
Available-for-Sale securities, Gross unrealized losses | (567) | (223) |
Available-for-Sale securities, Fair value | 220,709 | 219,388 |
Foreign government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 723,937 | 386,392 |
Held-to-maturity securities, Gross unrealized gains | 302,297 | 18,609 |
Held-to-maturity securities, Gross unrealized losses | (13,742) | |
Held-to-maturity securities, Fair value | 1,026,234 | 391,259 |
Foreign government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 198,777 | 153,429 |
Available-for-Sale securities, Gross unrealized gains | 81,014 | 8,669 |
Available-for-Sale securities, Gross unrealized losses | (14) | (603) |
Available-for-Sale securities, Fair value | 279,777 | 161,495 |
Foreign corporate bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 98 | 198 |
Held-to-maturity securities, Gross unrealized gains | 7 | 11 |
Held-to-maturity securities, Fair value | 105 | 209 |
Foreign corporate bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 361,422 | 360,299 |
Available-for-Sale securities, Gross unrealized gains | 507 | 944 |
Available-for-Sale securities, Gross unrealized losses | (2,179) | (376) |
Available-for-Sale securities, Fair value | 359,750 | 360,867 |
Securitized products | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Gross unrealized losses | (12) | |
Held-to-maturity securities, Cost | 5,418 | |
Held-to-maturity securities, Gross unrealized losses | (421) | |
Held-to-maturity securities, Fair value | 4,997 | |
Securitized products | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 205,223 | 190,111 |
Available-for-Sale securities, Gross unrealized gains | 0 | 1 |
Available-for-Sale securities, Fair value | 205,223 | 190,112 |
Other | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 14,398 | 2,286 |
Available-for-Sale securities, Gross unrealized gains | 1,867 | 2,402 |
Available-for-Sale securities, Fair value | ¥ 16,253 | ¥ 4,688 |
Marketable Securities and Sec_4
Marketable Securities and Securities Investments (Cost and Fair Value of Debt Securities Classified as Available-for-Sale Securities and Held-to-Maturity Securities by Contractual Maturity) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Available for Sale Securities, Cost | ||
Due in one year or less | ¥ 145,867 | |
Due after one year through five years | 432,281 | |
Due after five years through ten years | 561,098 | |
Due after ten years | 1,463,906 | |
Total | 2,603,152 | |
Available-for-sale securities, Fair value | ||
Due in one year or less | 146,084 | |
Due after one year through five years | 435,443 | |
Due after five years through ten years | 637,363 | |
Due after ten years | 1,693,923 | |
Total | 2,912,813 | |
Held-to-maturity securities, Cost | ||
Due in one year or less | 6,075 | |
Due after one year through five years | 199,509 | |
Due after five years through ten years | 246,072 | |
Due after ten years | 6,966,856 | |
Held-to-maturity securities, Cost | 7,418,512 | ¥ 6,842,072 |
Held-to-maturity securities, Fair value | ||
Due in one year or less | 6,109 | |
Due after one year through five years | 217,983 | |
Due after five years through ten years | 283,086 | |
Due after ten years | 9,367,458 | |
Total | ¥ 9,874,636 | ¥ 8,902,627 |
Marketable Securities and Sec_5
Marketable Securities and Securities Investments - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||||||
Mar. 31, 2020JPY (¥) | Mar. 31, 2020USD ($) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2018JPY (¥) | Mar. 31, 2019USD ($) | Apr. 03, 2018 | |
Investment Holdings [Line Items] | |||||||
Proceeds from sales of available-for-sale securities | ¥ 84,362 | ¥ 66,906 | ¥ 39,982 | ||||
Gross realized gains from available-for-sale securities | 354 | 240 | 1,257 | ||||
Gross realized losses from available-for-sale securities | 128 | 475 | 2 | ||||
Marketable securities classified as trading securities | 270,120 | 234,117 | |||||
Net unrealized gains on trading securities | 1,705 | 3,610 | ¥ 48,047 | ||||
Net realized gains on sale of equity securities | 20,176 | 77,495 | |||||
Net unrealized gains on revaluation of equity securities | 134,831 | 104,168 | |||||
Gain or loss on sale of shares in security investments | 61,544 | ||||||
Investment in non public companies | 30,120 | 25,720 | |||||
Equity securities without readily determinable fair value, downward price adjustment | 9,075 | 4,285 | |||||
Equity securities without readily determinable fair value, upward price adjustment | 1,070 | ||||||
Spotify Technology SA | |||||||
Investment Holdings [Line Items] | |||||||
Ownership percentage | 5.707% | ||||||
Proceed from sale of shares | 82,616 | $ 768 | |||||
Gain or loss on sale of shares in security investments | 0 | 54,179 | 504 | ||||
Gross fair value of retained shares | 78,947 | $ 711 | |||||
Gain on equity securities, net | ¥ (6,063) | $ (57) | ¥ 47,543 | $ 449 |
Marketable Securities and Sec_6
Marketable Securities and Securities Investments (Gross Unrealized Losses and Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time of Continuous Unrealized Loss Position) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | ¥ 237,149 | ¥ 103,410 |
Available-for-sale securities, less than 12 months, unrealized losses | (3,242) | (167) |
Available-for-sale securities, 12 months or more, fair value | 49,499 | 60,193 |
Available-for-sale securities, 12 months or more, unrealized losses | (129) | (1,089) |
Available-for-sale securities, fair value, total | 286,648 | 163,603 |
Available-for-sale securities, unrealized losses, total | (3,371) | (1,256) |
Held-to-maturity securities, less than 12 months, fair value | 237,910 | |
Held-to-maturity securities, less than 12 months, unrealized losses | (6,103) | |
Held-to-maturity securities, 12 months or more, fair value | 3,727 | 249,213 |
Held-to-maturity securities, 12 months or more , unrealized losses | (469) | (19,587) |
Held-to-maturity securities, fair value, total | 241,637 | 249,213 |
Held-to-maturity securities, unrealized losses, total | (6,572) | (19,587) |
Held-to-maturity And Available-for-sale securities, less than 12 months, fair value | 475,059 | 103,410 |
Held-to-maturity And Available-for-sale securities, less than 12 months, unrealized losses | (9,345) | (167) |
Held-to-maturity And Available-for-sale securities, 12 months or more, fair value | 53,226 | 309,406 |
Held-to-maturity And Available-for-sale securities, 12 months or more, unrealized losses | (598) | (20,676) |
Held-to-maturity And Available-for-sale securities, fair value, total | 528,285 | 412,816 |
Held-to-maturity And Available-for-sale securities, unrealized losses, total | (9,943) | (20,843) |
Japanese national government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 51,746 | |
Available-for-sale securities, less than 12 months, unrealized losses | (539) | |
Available-for-sale securities, 12 months or more, fair value | 2,032 | 4,063 |
Available-for-sale securities, 12 months or more, unrealized losses | (27) | (20) |
Available-for-sale securities, fair value, total | 53,778 | 4,063 |
Available-for-sale securities, unrealized losses, total | (566) | (20) |
Held-to-maturity securities, less than 12 months, fair value | 134,320 | |
Held-to-maturity securities, less than 12 months, unrealized losses | (1,397) | |
Held-to-maturity securities, fair value, total | 134,320 | |
Held-to-maturity securities, unrealized losses, total | (1,397) | |
Japanese local government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 25,010 | 27,404 |
Available-for-sale securities, less than 12 months, unrealized losses | (10) | (29) |
Available-for-sale securities, 12 months or more, fair value | 16,340 | 4,872 |
Available-for-sale securities, 12 months or more, unrealized losses | (23) | (5) |
Available-for-sale securities, fair value, total | 41,350 | 32,276 |
Available-for-sale securities, unrealized losses, total | (33) | (34) |
Japanese corporate bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 62,118 | 25,725 |
Available-for-sale securities, less than 12 months, unrealized losses | (548) | (21) |
Available-for-sale securities, 12 months or more, fair value | 10,694 | 19,925 |
Available-for-sale securities, 12 months or more, unrealized losses | (19) | (202) |
Available-for-sale securities, fair value, total | 72,812 | 45,650 |
Available-for-sale securities, unrealized losses, total | (567) | (223) |
Held-to-maturity securities, less than 12 months, fair value | 98,172 | |
Held-to-maturity securities, less than 12 months, unrealized losses | (4,285) | |
Held-to-maturity securities, 12 months or more, fair value | 3,727 | 97,984 |
Held-to-maturity securities, 12 months or more , unrealized losses | (469) | (5,845) |
Held-to-maturity securities, fair value, total | 101,899 | 97,984 |
Held-to-maturity securities, unrealized losses, total | (4,754) | (5,845) |
Foreign government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, 12 months or more, fair value | 1,537 | 15,878 |
Available-for-sale securities, 12 months or more, unrealized losses | (14) | (603) |
Available-for-sale securities, fair value, total | 1,537 | 15,878 |
Available-for-sale securities, unrealized losses, total | (14) | (603) |
Held-to-maturity securities, 12 months or more, fair value | 151,229 | |
Held-to-maturity securities, 12 months or more , unrealized losses | (13,742) | |
Held-to-maturity securities, fair value, total | 151,229 | |
Held-to-maturity securities, unrealized losses, total | (13,742) | |
Foreign corporate bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 86,220 | 50,281 |
Available-for-sale securities, less than 12 months, unrealized losses | (2,133) | (117) |
Available-for-sale securities, 12 months or more, fair value | 18,896 | 15,455 |
Available-for-sale securities, 12 months or more, unrealized losses | (46) | (259) |
Available-for-sale securities, fair value, total | 105,116 | 65,736 |
Available-for-sale securities, unrealized losses, total | (2,179) | ¥ (376) |
Securitized products | ||
Investments, Unrealized Loss Position [Line Items] | ||
Held-to-maturity securities, less than 12 months, fair value | 5,418 | |
Held-to-maturity securities, less than 12 months, unrealized losses | (421) | |
Held-to-maturity securities, fair value, total | 5,418 | |
Held-to-maturity securities, unrealized losses, total | (421) | |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 12,055 | |
Available-for-sale securities, less than 12 months, unrealized losses | (12) | |
Available-for-sale securities, fair value, total | 12,055 | |
Available-for-sale securities, unrealized losses, total | ¥ (12) |
Leases-Components of lease cost
Leases-Components of lease cost (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Lease, Cost [Abstract] | |
Amortization of right-of-use assets | ¥ 10,077 |
Interest on lease liabilities | 1,266 |
Total finance lease cost | 11,343 |
Operating lease cost | 76,863 |
Short-term lease cost | 20,620 |
Variable lease cost | 141 |
Sublease income | (3,860) |
Total lease cost | ¥ 105,107 |
Leases - Additional Information
Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Leases [Abstract] | ||
Rental expenses under operating leases | ¥ 71,516 | ¥ 77,950 |
Sublease rental received under operating leases | 1,013 | ¥ 1,325 |
Total minimum rentals to be received in future under noncancelable subleases for operating leases | ¥ 1,598 |
Leases-Summary of Supplemental
Leases-Summary of Supplemental consolidated balance sheet information related to leases (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Finance Lease [Abstract] | |
Current portion of long-term debt | ¥ 9,240 |
Long-term debt | 29,843 |
Total | ¥ 39,083 |
Weighted average remaining lease term | |
Operating leases | 9 years 10 months 28 days |
Finance leases | 8 years 7 months 9 days |
Weighted average discount rate | |
Operating leases | 3.147% |
Finance leases | 2.338% |
Leases (Minimum Rental Payments
Leases (Minimum Rental Payments Required under Operating Leases that have Initial or Remaining Noncancelable Lease Terms in Excess of One Year) (Detail) ¥ in Millions | Mar. 31, 2019JPY (¥) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2020 | ¥ 58,901 |
2021 | 48,823 |
2022 | 34,726 |
2023 | 25,355 |
2024 | 22,152 |
Later fiscal years | 78,507 |
Total minimum future rentals | ¥ 268,464 |
Leases-Summary of Maturities of
Leases-Summary of Maturities of Lease Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Apr. 01, 2019 |
Operating Leases [Abstract] | ||
2021 | ¥ 76,469 | |
2022 | 69,606 | |
2023 | 55,648 | |
2024 | 40,303 | |
2025 | 30,664 | |
Later fiscal years | 152,275 | |
Total lease payments | 424,965 | |
Less imputed interest | 41,187 | |
Total | 383,778 | ¥ 341,251 |
Finance Leases [Abstract] | ||
2021 | 10,213 | |
2022 | 7,323 | |
2023 | 5,990 | |
2024 | 4,689 | |
2025 | 3,163 | |
Later fiscal years | 23,088 | |
Total lease payments | 54,466 | |
Less imputed interest | 15,383 | |
Total | ¥ 39,083 |
Leases-Summary of other informa
Leases-Summary of other information related to leases (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Cash paid for amounts included in the measurement of lease liabilities | |
Payments for operating leases, included in cash flows from operating activities | ¥ 71,612 |
Payments for finance leases, included in cash flows from financing activities | 33,088 |
Right-of-use assets obtained in exchange for new operating lease liabilities | ¥ 124,380 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Finite and indefinite lived intangible assets acquired | ¥ 146,023 | ||
Acquired finite lived intangible assets subject to amortization | 145,596 | ||
Aggregate amortization expense for intangible assets | ¥ 110,819 | ¥ 109,452 | ¥ 123,450 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets (Acquired Intangible Assets and Weighted-Average Amortization Period) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 145,596 |
Patent rights, know-how and license agreements | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 7,848 |
Weighted-average amortization period | 8 years |
Software to be sold, leased or otherwise marketed | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 16,609 |
Weighted-average amortization period | 3 years |
Internal-use software | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 93,768 |
Weighted-average amortization period | 4 years |
Music catalogs | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 19,837 |
Weighted-average amortization period | 14 years |
Other | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 7,534 |
Weighted-average amortization period | 11 years |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | ¥ 1,700,304 | ¥ 1,649,721 |
Accumulated amortization | (886,297) | (823,276) |
Patent rights, know-how and license agreements | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 166,076 | 169,761 |
Accumulated amortization | (146,051) | (145,525) |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 16,104 | 15,759 |
Accumulated amortization | (12,467) | (11,825) |
Trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 11,152 | 15,768 |
Accumulated amortization | (6,114) | (9,863) |
Software to be sold, leased or otherwise marketed | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 141,111 | 125,350 |
Accumulated amortization | (110,663) | (96,322) |
Internal-use software | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 594,109 | 529,022 |
Accumulated amortization | (384,236) | (345,935) |
Music catalogs | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 612,266 | 615,206 |
Accumulated amortization | (124,787) | (106,725) |
Artist contracts | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 41,764 | 42,575 |
Accumulated amortization | (29,017) | (29,108) |
Television carriage contracts (broadcasting agreements) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 53,266 | 74,605 |
Accumulated amortization | (21,645) | (28,685) |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 64,456 | 61,675 |
Accumulated amortization | ¥ (51,317) | ¥ (49,288) |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Estimated Aggregate Amortization Expense for Intangible Assets) (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2020 | ¥ 97,978 |
2021 | 82,057 |
2022 | 66,079 |
2023 | 50,098 |
2024 | ¥ 38,658 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets (Total Carrying Amount of Intangible Assets Having Indefinite Life) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | ¥ 92,303 | ¥ 91,521 |
Trademarks | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | 69,975 | 69,447 |
Distribution agreements | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | 18,834 | 18,834 |
Other | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | ¥ 3,494 | ¥ 3,240 |
Goodwill and Other Intangible_8
Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill by Segment) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Goodwill [Line Items] | ||||
Goodwill - gross | ¥ 1,087,374 | ¥ 839,030 | ||
Accumulated impairments | (318,822) | (308,538) | ||
Goodwill | 768,552 | 530,492 | ||
Increase (decrease) due to: | ||||
Acquisitions | 39,763 | [1] | 243,044 | |
Sales and dispositions | (609) | |||
Impairments | (5,107) | |||
Translation adjustments | (20,639) | 3,111 | ||
Other | (3,179) | (2,988) | ||
Goodwill - gross | 1,100,315 | 1,087,374 | ||
Accumulated impairments | (316,427) | (318,822) | ||
Goodwill | 783,888 | 768,552 | ||
Game & Network Services | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 153,955 | 150,606 | ||
Goodwill | 153,955 | 150,606 | ||
Increase (decrease) due to: | ||||
Acquisitions | 17,945 | [1] | 2,261 | |
Translation adjustments | (926) | 1,088 | ||
Goodwill - gross | 170,974 | 153,955 | ||
Goodwill | 170,974 | 153,955 | ||
Music | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 403,676 | 165,700 | ||
Accumulated impairments | (306) | (306) | ||
Goodwill | 403,370 | 165,394 | ||
Increase (decrease) due to: | ||||
Acquisitions | 2,956 | [1] | 240,396 | |
Sales and dispositions | 0 | |||
Translation adjustments | (13,802) | (2,420) | ||
Other | (1,199) | |||
Goodwill - gross | 391,631 | 403,676 | ||
Accumulated impairments | (306) | (306) | ||
Goodwill | 391,325 | 403,370 | ||
Pictures | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 252,262 | 246,620 | ||
Accumulated impairments | (106,778) | (102,208) | ||
Goodwill | 145,484 | 144,412 | ||
Increase (decrease) due to: | ||||
Acquisitions | 14,889 | [1] | 387 | |
Sales and dispositions | (609) | |||
Translation adjustments | (5,410) | 3,673 | ||
Other | (1,980) | (2,988) | ||
Goodwill - gross | 257,074 | 252,262 | ||
Accumulated impairments | (104,700) | (106,778) | ||
Goodwill | 152,374 | 145,484 | ||
Electronics Products & Solutions | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 194,416 | 194,468 | ||
Accumulated impairments | (182,462) | (181,665) | ||
Goodwill | 11,954 | 12,803 | ||
Increase (decrease) due to: | ||||
Acquisitions | [1] | 364 | ||
Impairments | (776) | |||
Translation adjustments | (129) | (73) | ||
Goodwill - gross | 194,635 | 194,416 | ||
Accumulated impairments | (182,446) | (182,462) | ||
Goodwill | 12,189 | 11,954 | ||
Imaging & Sensing Solutions | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 46,564 | 45,793 | ||
Goodwill | 46,564 | 45,793 | ||
Increase (decrease) due to: | ||||
Translation adjustments | (372) | 771 | ||
Goodwill - gross | 46,192 | 46,564 | ||
Goodwill | 46,192 | 46,564 | ||
Financial Services | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 7,931 | 7,931 | ||
Accumulated impairments | (706) | (706) | ||
Goodwill | 7,225 | 7,225 | ||
Increase (decrease) due to: | ||||
Acquisitions | [1] | 3,609 | ||
Goodwill - gross | 11,540 | 7,931 | ||
Accumulated impairments | (706) | (706) | ||
Goodwill | 10,834 | 7,225 | ||
All Other | ||||
Goodwill [Line Items] | ||||
Goodwill - gross | 28,570 | 27,912 | ||
Accumulated impairments | (28,570) | (23,653) | ||
Goodwill | 4,259 | |||
Increase (decrease) due to: | ||||
Impairments | (4,331) | |||
Translation adjustments | 0 | 72 | ||
Other | 0 | |||
Goodwill - gross | 28,269 | 28,570 | ||
Accumulated impairments | ¥ (28,269) | ¥ (28,570) | ||
[1] | Acquisitions for the fiscal year ended March 31, 2019 relate mainly to the acquisition of EMI Music Publishing in the Music segment. Acquisitions for the fiscal year ended March 31, 2020 relate mainly to the acquisition of Insomniac Games, Inc. in the G&NS segment, Silvergate Media in the Pictures segment and AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. in the Financial Services segment. Refer to Note 25. |
Insurance-Related Accounts - Ad
Insurance-Related Accounts - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Combined amounts of statutory net equity of insurance subsidiaries which is not measured in accordance with U.S. GAAP | ¥ 586,983 | ¥ 548,730 | |
Life insurance revenues | 1,052,316 | 910,011 | ¥ 857,766 |
Non-life insurance revenues | 115,730 | 111,392 | 105,497 |
Amortization of deferred insurance acquisition costs charged to income | 93,734 | 79,906 | ¥ 68,137 |
Future insurance policy benefits | 6,237,048 | 5,633,865 | |
Nontraditional Life Insurance Contracts [Member] | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Deferred insurance acquisition costs of non-traditional life insurance contracts | ¥ 206,363 | ¥ 209,897 | |
Minimum | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Interest rates for future policy benefit based on market conditions and expected investment returns | 0.50% | ||
Minimum | Interest Sensitive Whole Life Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 1.70% | ||
Minimum | Investments Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 0.01% | ||
Maximum | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Interest rates for future policy benefit based on market conditions and expected investment returns | 4.50% | ||
Maximum | Interest Sensitive Whole Life Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 2.00% | ||
Maximum | Investments Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 6.30% |
Insurance-Related Accounts (Pol
Insurance-Related Accounts (Policyholders' Account in Life Insurance Business) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | ¥ 3,642,271 | ¥ 3,048,202 |
Universal Life Insurance | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | 2,611,577 | 2,104,646 |
Investments Contracts | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | 885,690 | 816,903 |
Other | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | ¥ 145,004 | ¥ 126,653 |
Insurance-Related Accounts (Net
Insurance-Related Accounts (Net Amount at Risk, Liability for the Minimum Guaranteed Benefit) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | ¥ 1,561,028 | ¥ 1,092,559 |
Net amount at risk | 4,635,899 | 4,334,224 |
Liability for minimum guarantee benefit | 143,905 | 63,423 |
Variable annuities | ||
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | 464,093 | |
Net amount at risk | 71,685 | |
Liability for minimum guarantee benefit | ¥ 64,045 | |
Average attained age | 60 years | |
Variable life insurance contracts | ||
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | ¥ 1,096,935 | 1,092,559 |
Net amount at risk | 4,564,214 | 4,334,224 |
Liability for minimum guarantee benefit | ¥ 79,860 | ¥ 63,423 |
Average attained age | 45 years | 44 years |
Short-Term Borrowings and Lon_3
Short-Term Borrowings and Long-Term Debt (Short-Term Borrowings) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 810,176 | ¥ 618,618 |
Unsecured Loans Weighted Average Interest Rate 2.52% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 55,186 | |
Unsecured Loans Weighted Average Interest Rate 0.86% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 91,725 | |
Repurchase agreement, weighted average interest rate 0.56% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 432,820 | |
Repurchase agreement, weighted average interest rate 0.93% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 567,194 | |
Secured Call Money Weighted Average Interest Rate 0.18% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 130,612 | |
Secured Call Money Weighted Average Interest Rate 0.13% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 151,257 |
Short-Term Borrowings and Lon_4
Short-Term Borrowings and Long-Term Debt (Short-Term Borrowings) (Parenthetical) (Detail) | Mar. 31, 2020 | Mar. 31, 2019 |
Unsecured Loans Weighted Average Interest Rate 2.52% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 2.52% | |
Unsecured Loans Weighted Average Interest Rate 0.86% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.86% | |
Repurchase agreement, weighted average interest rate 0.56% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.56% | |
Repurchase agreement, weighted average interest rate 0.93% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.93% | |
Secured Call Money Weighted Average Interest Rate 0.18% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.18% | |
Secured Call Money Weighted Average Interest Rate 0.13% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.13% |
Short-Term Borrowings and Lon_5
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions | Jul. 21, 2015JPY (¥)TradingDay¥ / shares | Mar. 31, 2020JPY (¥)¥ / shares | Jun. 10, 2020¥ / shares | Oct. 31, 2019JPY (¥) | Mar. 31, 2019JPY (¥)¥ / shares |
Debt Instrument [Line Items] | |||||
Short-term borrowings | ¥ 810,176 | ¥ 618,618 | |||
Long-term debt including current portion | 664,773 | 740,833 | |||
Aggregate principal amount newly issued for repayment of borrowings and debt | ¥ 100,000 | ||||
Securities Pledged As Collaterals | |||||
Debt Instrument [Line Items] | |||||
Marketable securities and securities investments pledged as collateral, book value | 52,942 | ||||
Pledged housing loans, book value | 378,241 | ||||
Long-term secured loan | 200,000 | ||||
Committed Lines of Credit | |||||
Debt Instrument [Line Items] | |||||
Line of credit facility, remaining borrowing capacity | ¥ 518,147 | ||||
Line of credit facility, period up to which company can borrow | 180 days | ||||
Commercial Paper Programs | |||||
Debt Instrument [Line Items] | |||||
Line of credit facility, remaining borrowing capacity | ¥ 1,044,150 | ||||
Line of credit facility, period up to which company can borrow | 270 days | ||||
Cash settlements, variation margins of futures markets and certain other purposes | |||||
Debt Instrument [Line Items] | |||||
Marketable securities and securities investments pledged as collateral, book value | ¥ 12,445 | ||||
Repurchase agreement, weighted average interest rate of 0.01% | |||||
Debt Instrument [Line Items] | |||||
Securities investments pledged as collateral, book value | 474,644 | ||||
Repurchase agreement, weighted average interest rate of 0.01% | Securities Pledged As Collaterals | |||||
Debt Instrument [Line Items] | |||||
Short-term borrowings | 567,194 | ||||
Secured Call Money Weighted Average Interest Rate 0.08% | Securities Pledged As Collaterals | |||||
Debt Instrument [Line Items] | |||||
Short-term borrowings | 151,257 | ||||
Marketable securities and securities investments pledged as collateral, book value | 42,576 | ||||
Unsecured zero coupon convertible bonds, due 2022 | |||||
Debt Instrument [Line Items] | |||||
Long-term debt including current portion | ¥ 120,000 | ¥ 119,531 | ¥ 119,961 | ||
Debt instrument interest rate | 130.00% | ||||
Stock acquisition rights, start date | Sep. 1, 2015 | ||||
Stock acquisition rights, end date | Sep. 28, 2022 | ||||
Conversion price per common share | ¥ / shares | ¥ 4,996 | ¥ 5,008 | |||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | ¥ 25 | ||||
Debt instrument outstanding percentage | 100.00% | ||||
Debt instrument redeemable date | Jul. 21, 2020 | ||||
Debt instrument conversion price percentage on consecutive trading days | 130.00% | ||||
Debt instrument, convertible, consecutive trading days | TradingDay | 20 | ||||
Basis for conversion bonds outstanding | if the closing sales price per share of Sony’s common stock on the Tokyo Stock Exchange is 130% or more of the conversion price of the Zero Coupon Convertible Bonds for 20 consecutive trading days | ||||
Unsecured zero coupon convertible bonds, due 2022 | Minimum | |||||
Debt Instrument [Line Items] | |||||
Conversion price per common share | ¥ / shares | ¥ 3,526.5 | ||||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | ¥ 25 | ||||
Unsecured zero coupon convertible bonds, due 2022 | Maximum | |||||
Debt Instrument [Line Items] | |||||
Conversion price per common share | ¥ / shares | ¥ 5,008 | ||||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | ¥ 45 | ||||
Unsecured zero coupon convertible bonds, due 2022 | Subsequent event | |||||
Debt Instrument [Line Items] | |||||
Conversion price per common share | ¥ / shares | ¥ 4,982.5 |
Short-Term Borrowings and Lon_6
Short-Term Borrowings and Long-Term Debt (Long-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Jul. 21, 2015 | |
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | ¥ 664,773 | ¥ 740,833 | ||
Less - Portion due within one year | 29,807 | 172,461 | ||
Total | 634,966 | 568,372 | ||
Unsecured loans, due 2019 to 2024, with interest rates ranging from 0.01 % to 7.89 % per annum | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 57,321 | |||
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 17,880 | |||
Unsecured 0.05% bonds, due 2019 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 69,964 | |||
Unsecured 2.07% bonds, due 2019 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 50,000 | |||
Unsecured 0.23% bonds, due 2021 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 89,894 | 89,819 | ||
Unsecured 0.11% bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 10,000 | 10,000 | ||
Unsecured 1.41% bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 10,000 | 10,000 | ||
Unsecured 0.28% bonds, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 15,000 | 15,000 | ||
Unsecured 0.13% bonds, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 29,886 | |||
Unsecured 0.22% bonds, due 2025 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 10,000 | 10,000 | ||
Unsecured 0.42% bonds, due 2026 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 24,923 | 24,911 | ||
Unsecured 0.18% bonds, due 2026 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 10,000 | |||
Unsecured 0.30% bonds, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 59,738 | |||
Unsecured zero coupon convertible bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 119,531 | 119,961 | ¥ 120,000 | |
Secured 0.00% loans, due 2020 to 2023 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | 201,205 | 200,003 | ||
Finance lease liabilities and other, due 2019 to 2048 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | [1] | 72,991 | ||
Finance lease liabilities and other, due 2020 to 2050 | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | [1] | 56,350 | ||
Guarantee deposits received | ||||
Debt Instrument [Line Items] | ||||
Long-term debt including current portion | [1] | ¥ 10,366 | ¥ 10,863 | |
[1] | Finance lease liabilities and other were represented as Capital lease obligations and other as of the fiscal year ended March 31, 2019. |
Short-Term Borrowings and Lon_7
Short-Term Borrowings and Long-Term Debt (Long-Term Debt) (Parenthetical) (Detail) - ¥ / shares | Mar. 31, 2020 | Mar. 31, 2019 | Jul. 21, 2015 |
Unsecured loans, due 2019 to 2024, with interest rates ranging from 0.01% to 5.10% per annum | Minimum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.01% | ||
Unsecured loans, due 2019 to 2024, with interest rates ranging from 0.01% to 5.10% per annum | Maximum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 7.89% | ||
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | Minimum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.01% | ||
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | Maximum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 5.10% | ||
Unsecured 0.05% bonds, due 2019 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.05% | ||
Unsecured 2.07% bonds, due 2019 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 2.07% | ||
Unsecured 0.23% bonds, due 2021 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.23% | 0.23% | |
Unsecured 0.11% bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.11% | 0.11% | |
Unsecured 1.41% bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 1.41% | 1.41% | |
Unsecured 0.28% bonds, due 2023 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.28% | 0.28% | |
Unsecured 0.13% bonds, due 2024 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.13% | ||
Unsecured 0.22% bonds, due 2025 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.22% | 0.22% | |
Unsecured 0.42% bonds, due 2026 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.42% | 0.42% | |
Unsecured 0.18% bonds, due 2026 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.18% | ||
Unsecured 0.30% bonds, due 2029 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.30% | ||
Unsecured zero coupon convertible bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Conversion price per common share | ¥ 4,996 | ¥ 5,008 | |
Unsecured zero coupon convertible bonds, due 2022 | Minimum | |||
Debt Instrument [Line Items] | |||
Conversion price per common share | ¥ 3,526.5 | ||
Unsecured zero coupon convertible bonds, due 2022 | Maximum | |||
Debt Instrument [Line Items] | |||
Conversion price per common share | ¥ 5,008 | ||
Secured 0.00% loans, due 2020 to 2023 | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.00% | 0.00% | |
Finance lease liabilities and other, due 2019 to 2048 | Minimum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.36% | ||
Finance lease liabilities and other, due 2019 to 2048 | Maximum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 9.14% | ||
Finance lease liabilities and other, due 2020 to 2050 | Minimum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.01% | ||
Finance lease liabilities and other, due 2020 to 2050 | Maximum | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 12.59% |
Short-Term Borrowings and Lon_8
Short-Term Borrowings and Long-Term Debt (Aggregate Amounts of Annual Maturities of Long-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Debt Disclosure [Abstract] | ||
2021 | ¥ 29,807 | |
2022 | 159,102 | |
2023 | 229,617 | |
2024 | 81,041 | |
2025 | 43,923 | |
Later fiscal years | 121,283 | |
Total | ¥ 664,773 | ¥ 740,833 |
Housing Loans and Deposits fr_3
Housing Loans and Deposits from Customers in the Banking Business - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Housing Loans And Deposits From Customers [Abstract] | ||
Housing loans in the banking business, Carrying amount | ¥ 1,927,054 | ¥ 1,685,504 |
Allowance for credit losses of housing loans in the banking business | 780 | 829 |
Balance of time deposits issued in amounts of 10 million yen or more | ¥ 306,449 | ¥ 292,968 |
Housing Loans and Deposits fr_4
Housing Loans and Deposits from Customers in the Banking Business (Aggregate Amounts of Annual Maturities of Time Deposits with Remaining Term of More Than One Year) (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Interest-bearing Deposit Liabilities [Abstract] | |
2022 | ¥ 39,145 |
2023 | 16,102 |
2024 | 10,513 |
2025 | 3,238 |
2026 | 2,190 |
Later fiscal years | 12,823 |
Total | ¥ 84,011 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | ¥ 270,120 | ¥ 234,117 | |
Derivative assets | 42,383 | 10,486 | |
Derivative liabilities | 35,866 | 32,822 | |
Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 16,253 | 4,688 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 270,120 | 234,117 | |
Other investments | [1] | 17,220 | 13,914 |
Derivative assets | [2] | 42,383 | 10,486 |
Total assets | 4,774,922 | 4,079,047 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 532,191 | |
Derivative liabilities | [2] | 35,866 | 32,822 |
Total liabilities | 568,057 | 32,822 | |
Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,761,929 | 1,643,589 | |
Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 69,172 | 67,497 | |
Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 220,709 | 219,388 | |
Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 279,777 | 161,495 |
Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 359,750 | 360,867 |
Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 205,223 | 190,112 |
Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,532,386 | 1,172,894 | |
Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 16,253 | 4,688 | |
Marketable securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 270,120 | 234,117 | |
Other investments | [1] | 0 | |
Derivative assets | [2] | 0 | |
Total assets | 1,841,697 | 1,318,251 | |
Derivative liabilities | [2] | 0 | |
Total liabilities | 64,045 | ||
Marketable securities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 10,011 | 18,719 | |
Marketable securities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 15,334 | 7,768 | |
Marketable securities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 14,774 | 11,472 | |
Marketable securities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 2,690 | 3,984 |
Marketable securities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 94,156 | 90,801 |
Marketable securities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Marketable securities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,434,612 | 951,390 | |
Marketable securities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Securities investments and other | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 17,220 | 13,914 |
Derivative assets | [2] | 0 | |
Total assets | 2,890,842 | 2,750,310 | |
Derivative liabilities | [2] | 0 | |
Total liabilities | 468,146 | ||
Securities investments and other | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,751,918 | 1,624,870 | |
Securities investments and other | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 53,838 | 59,729 | |
Securities investments and other | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 205,935 | 207,916 | |
Securities investments and other | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 277,087 | 157,511 |
Securities investments and other | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 265,594 | 270,066 |
Securities investments and other | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 205,223 | 190,112 |
Securities investments and other | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 97,774 | 221,504 | |
Securities investments and other | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 16,253 | 4,688 | |
Future insurance policy benefits | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 64,045 | |
Policyholders' account | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 468,146 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 0 | |
Derivative assets | [2] | 40,784 | 9,431 |
Total assets | 40,784 | 9,431 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 16,814 | 19,852 |
Total liabilities | 16,814 | 19,852 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 0 | |
Derivative assets | [2] | 1,599 | 1,055 |
Total assets | 1,599 | 1,055 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 19,052 | 12,970 |
Total liabilities | 19,052 | 12,970 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 24,330 | 22,105 | |
Other investments | [1] | 7,162 | 5,489 |
Derivative assets | [2] | 1,310 | 444 |
Total assets | 983,546 | 1,065,138 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 2,077 | 136 |
Total liabilities | 2,077 | 136 | |
Level 1 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 950,744 | 1,037,100 | |
Level 1 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 2 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 245,790 | 212,012 | |
Other investments | [1] | 816 | 1,507 |
Derivative assets | [2] | 41,073 | 10,042 |
Total assets | 3,582,393 | 2,819,204 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 33,789 | 32,686 |
Total liabilities | 33,789 | 32,686 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,761,929 | 1,643,589 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 69,172 | 67,497 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 220,679 | 219,388 | |
Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 279,777 | 161,495 |
Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 343,980 | 338,163 |
Level 2 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 33,383 | 25,029 |
Level 2 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 581,642 | 135,794 | |
Level 2 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 4,152 | 4,688 | |
Level 3 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 9,242 | 6,918 |
Derivative assets | [2] | 0 | |
Total assets | 208,983 | 194,705 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 532,191 | |
Derivative liabilities | [2] | 0 | |
Total liabilities | 532,191 | ||
Level 3 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 30 | ||
Level 3 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Level 3 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 15,770 | 22,704 |
Level 3 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 171,840 | ¥ 165,083 |
Level 3 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | ¥ 12,101 | ||
[1] | Other investments include certain hybrid financial instruments and certain private equity investments. | ||
[2] | Derivative assets and liabilities are recognized and disclosed on a gross basis. | ||
[3] | Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. | ||
[4] | 4,910 million yen and 7,771 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020. In the consolidated balance sheets, 2,386 million yen are included as marketable securities for the fiscal years ended March 31, 2020 and 4,910 million yen and 5,385 million yen are included as securities investment and other for the fiscal years ended March 31, 2019 and 2020, respectively. | ||
[5] | 173,964 million yen and 188,426 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2019 and 2020, respectively. In the consolidated balance sheets, 33,391 million yen and 34,502 million yen are included as marketable securities and 140,573 million yen and 153,924 million yen are included as securities investment and other for the fiscal years ended March 31, 2019 and 2020, respectively. | ||
[6] | 185,195 million yen and 193,430 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2019 and 2020, respectively, and are included in the consolidated balance sheets as securities investments and other. |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net gains from financial instruments for which fair value option has been elected | ¥ (12,408) | ¥ 85 |
Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 7,771 | |
Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 188,426 | 173,964 |
Marketable securities | Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,386 | |
Marketable securities | Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 34,502 | 33,391 |
Securities investments and other | Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 5,385 | 4,910 |
Securities investments and other | Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 153,924 | 140,573 |
Securities investments and other | Level 3 | Fair Value, Measurements, Recurring | Other: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | ¥ 193,430 | ¥ 185,195 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Mar. 31, 2018JPY (¥) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers into level 1 | ¥ 4,395 | ¥ 1,769 | |
Transfers out of level 1 | ¥ 3,216 | 2,508 | |
Minimum | Measurement Input, Mortality Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Minimum guaranteed benefits variable annuity | 0.004% | ||
Minimum | Measurement Input, Lapse Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Minimum guaranteed benefits variable annuity | 1.00% | ||
Minimum | Measurement Input, Discount Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Minimum guaranteed benefits variable annuity | (0.061%) | ||
Maximum | Measurement Input, Mortality Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum guaranteed benefits variable annuity | 44.865% | ||
Maximum | Measurement Input, Lapse Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum guaranteed benefits variable annuity | 7.50% | ||
Maximum | Measurement Input, Discount Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Maximum guaranteed benefits variable annuity | 1.433% | ||
Electronics Products & Solutions | Smartphone Business Asset Group | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of long-lived assets | ¥ 12,714 | ¥ 19,172 | ¥ 31,341 |
Electronics Products & Solutions | Smartphone Business Asset Group | Level 3 | Measurement Input, Discount Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | 10.6 | 8.5 | 8.5 |
Electronics Products & Solutions | Smartphone Business Asset Group | Minimum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | (10) | (26) | (8) |
Electronics Products & Solutions | Smartphone Business Asset Group | Maximum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | 70 | 24 | 6 |
All Other | Storage Media Business Asset Group | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment of long-lived assets | ¥ 12,858 | ||
All Other | Storage Media Business Asset Group | Level 3 | Measurement Input, Discount Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | 8.9 | ||
All Other | Storage Media Business Asset Group | Minimum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | (34) | ||
All Other | Storage Media Business Asset Group | Maximum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value measurements | 21 |
Fair Value Measurements (Change
Fair Value Measurements (Changes in Fair Value of Level Three Assets and Liabilities) (Detail) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020JPY (¥) | Mar. 31, 2020USD ($) | Mar. 31, 2019JPY (¥) | ||
Japanese corporate bonds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Purchases and Issuances | ¥ 30 | |||
Foreign corporate bonds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Purchases and Issuances | 13,597 | |||
Securitized products | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Purchases and Issuances | 40,175 | |||
Other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Purchases and Issuances | 12,101 | |||
Other Investments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 6,918 | ¥ 9,104 | ||
Total realized and unrealized gains (losses), included in earnings | [1] | (500) | 276 | |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [2] | 0 | ||
Purchases and Issuances | 4,711 | 4 | ||
Sales | (9) | (6) | ||
Settlements | (1,878) | (2,460) | ||
Transfers into level 3 | [3] | 0 | ||
Transfers out of level 3 | [4] | 0 | ||
Ending balance | 6,918 | |||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings | [1] | (376) | 441 | |
Future insurance policy benefits and Policyholders' account | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Acquisition of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. | [5] | 547,190 | ||
Total realized and unrealized gains (losses), included in earnings | [1] | 12,500 | ||
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [2] | 3,032 | ||
Purchases and Issuances | 5,295 | |||
Sales | 0 | |||
Settlements | (4,762) | |||
Transfers into level 3 | [3] | 0 | ||
Transfers out of level 3 | [4] | 0 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings | [1] | 10,273 | ||
Available-for-sale securities | Japanese corporate bonds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 0 | |||
Total realized and unrealized gains (losses), included in earnings | [1] | 0 | ||
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [2] | 0 | ||
Sales | 0 | |||
Settlements | 0 | |||
Transfers into level 3 | [3] | 0 | ||
Transfers out of level 3 | [4] | 0 | ||
Ending balance | 30 | 0 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings | $ | [1] | $ 0 | ||
Available-for-sale securities | Foreign corporate bonds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 22,704 | 27,878 | ||
Total realized and unrealized gains (losses), included in earnings | [1] | 311 | 465 | |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [2] | (73) | 131 | |
Purchases and Issuances | 5,787 | |||
Sales | 0 | |||
Settlements | (20,867) | (10,435) | ||
Transfers into level 3 | [3] | 3,374 | 20,863 | |
Transfers out of level 3 | [4] | (3,276) | (21,985) | |
Ending balance | 15,770 | 22,704 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings | [1] | (94) | 219 | |
Available-for-sale securities | Securitized products | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | 165,083 | 83,614 | ||
Total realized and unrealized gains (losses), included in earnings | [1] | (18,151) | 562 | |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [2] | 1 | 1 | |
Purchases and Issuances | 94,696 | |||
Sales | 0 | |||
Settlements | (12,967) | (13,601) | ||
Transfers into level 3 | [3] | 0 | 5,284 | |
Transfers out of level 3 | [4] | (2,301) | (5,473) | |
Ending balance | 171,840 | 165,083 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings | [1] | (16,507) | ¥ 510 | |
Available-for-sale securities | Other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Ending balance | 12,101 | |||
Available-for-sale securities | Other Investments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Ending balance | 9,242 | |||
Available-for-sale securities | Future insurance policy benefits and Policyholders' account | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Ending balance | ¥ 532,191 | |||
[1] | Earning effects are included in financial services revenue and financial services expense in the consolidated statements of income. | |||
[2] | Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale securities and included in debt valuation adjustments for future insurance policy benefits and policyholders’ account in the consolidated statements of comprehensive income. | |||
[3] | Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. | |||
[4] | Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. | |||
[5] | Refer to Note 25 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Remeasured At Fair Value on a Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | ¥ (22,656) | ¥ (49,242) |
Fair Value, Measurements, Nonrecurring | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Remeasurement of retained investment in SRE | 15,911 | |
Long-lived assets, Estimated fair value | 0 | |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-lived assets, Estimated fair value | 0 | |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-lived assets, Estimated fair value | 8,155 | 4,389 |
Goodwill, Estimated fair value | 0 | |
Long-lived assets impairments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | (36,003) | (44,135) |
Goodwill impairments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | ¥ (5,107) | |
Remeasurement Of Retained Investment in SRE [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | ¥ 13,347 |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments not Reported at Fair Value) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Housing loans in the banking business, Carrying amount | ¥ 1,927,054 | ¥ 1,685,504 |
Total assets, Carrying amount | 23,039,343 | 20,981,586 |
Long-term debt including the current portion, Carrying amount | 664,773 | 740,833 |
Total liabilities | 18,242,041 | 16,536,095 |
Estimated fair value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Housing loans in the banking business, Estimated fair value | 2,161,432 | 1,861,384 |
Total assets, Estimated fair value | 2,161,432 | 1,861,384 |
Long-term debt including the current portion, Estimated fair value | 699,358 | 737,529 |
Investment contracts included in policyholders' account in the life insurance business, Estimated fair value | 969,464 | 877,157 |
Total liabilities, Estimated fair value | 1,668,822 | 1,614,686 |
Carrying amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Housing loans in the banking business, Carrying amount | 1,927,054 | 1,685,504 |
Total assets, Carrying amount | 1,927,054 | 1,685,504 |
Long-term debt including the current portion, Carrying amount | 664,773 | 740,833 |
Investment contracts included in policyholders' account in the life insurance business, Carrying amount | 885,690 | 816,903 |
Total liabilities | 1,550,463 | 1,557,736 |
Level 2 | Estimated fair value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Housing loans in the banking business, Estimated fair value | 2,161,432 | 1,861,384 |
Total assets, Estimated fair value | 2,161,432 | 1,861,384 |
Long-term debt including the current portion, Estimated fair value | 699,358 | 737,529 |
Investment contracts included in policyholders' account in the life insurance business, Estimated fair value | 969,464 | 877,157 |
Total liabilities, Estimated fair value | ¥ 1,668,822 | ¥ 1,614,686 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Estimated Fair Values of Outstanding Derivative Instruments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets | ¥ 42,383 | ¥ 10,486 |
Derivative liabilities | 35,866 | 32,822 |
Designated as hedging instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,835 | 242 |
Derivative liabilities | 8,360 | 8,457 |
Designated as hedging instrument | Interest rate contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 183 | 141 |
Designated as hedging instrument | Interest rate contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 8,177 | 8,274 |
Designated as hedging instrument | Interest rate contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 9 | 10 |
Designated as hedging instrument | Interest rate contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 27 | 101 |
Designated as hedging instrument | Foreign exchange contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 42 | |
Designated as hedging instrument | Foreign exchange contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,799 | 131 |
Not designated as hedging instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 40,548 | 10,244 |
Derivative liabilities | 27,506 | 24,365 |
Not designated as hedging instrument | Interest rate contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 200 | 344 |
Not designated as hedging instrument | Interest rate contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 9,120 | 3,637 |
Not designated as hedging instrument | Interest rate contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 44 | 39 |
Not designated as hedging instrument | Interest rate contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,523 | 882 |
Not designated as hedging instrument | Foreign exchange contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 14,580 | 11,549 |
Not designated as hedging instrument | Foreign exchange contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 1,755 | 1,059 |
Not designated as hedging instrument | Foreign exchange contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 19,655 | 8,807 |
Not designated as hedging instrument | Foreign exchange contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 49 | 72 |
Not designated as hedging instrument | Equity Contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 1,476 | 7,776 |
Not designated as hedging instrument | Equity Contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 18,886 | ¥ 444 |
Not designated as hedging instrument | Bond contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 290 | |
Not designated as hedging instrument | Bond contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 306 | |
Not designated as hedging instrument | Commodity contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 85 | |
Not designated as hedging instrument | Commodity contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | ¥ 85 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative [Line Items] | |||
Gain (Loss) from components excluded from assessment of fair value hedge effectiveness, net | ¥ 0 | ¥ 0 | ¥ 0 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities (Effects of Derivative Instruments on Consolidated Statements of Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | ¥ (3,925) | ¥ (1,835) | ¥ (52) |
Derivative assets | 42,383 | 10,486 | |
Not designated as hedging instrument | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 26,441 | (26,476) | 10,174 |
Derivative assets | 40,548 | 10,244 | |
Not designated as hedging instrument | Interest rate contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 1,190 | (3,192) | (1,544) |
Not designated as hedging instrument | Foreign exchange contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 2,473 | (8,198) | 2,013 |
Not designated as hedging instrument | Foreign exchange contracts | Foreign exchange loss, net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 10,184 | (7,437) | 21,370 |
Not designated as hedging instrument | Equity Contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 15,438 | (7,649) | (11,665) |
Not designated as hedging instrument | Bond contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (2,954) | ||
Not designated as hedging instrument | Commodity contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 110 | ||
Amortized Cost | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 106,335 | ||
Amortized Cost | Interest rate contracts | Marketable securities | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 15,255 | ||
Amortized Cost | Interest rate contracts | Securities investments and other | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 91,080 | ||
Fair Value Hedging | Interest rate contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (3,925) | (1,835) | (52) |
Cash Flow Hedging | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | (981) | (1,093) | 1,111 |
Unrealized gain (loss) on cash flow hedging instruments | 2,799 | 2,315 | (2,295) |
Cash Flow Hedging | Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in OCI on derivative | 1,712 | 2,315 | (2,295) |
Gain (loss) from unrealized gains (losses) | 1,087 | 0 | 0 |
Cash Flow Hedging | Foreign exchange contracts | Cost of Sales | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | ¥ (1,093) | ¥ 1,111 | |
Cash Flow Hedging | Foreign exchange contracts | Net sales | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | 106 | ||
Gain (loss) from unrealized gains (losses) | ¥ (1,087) |
Derivative Instruments and He_6
Derivative Instruments and Hedging Activities (Summary of Derivatives Additional Information Including Notional Amounts) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Foreign exchange forward contracts | ||
Derivative [Line Items] | ||
Notional amount | ¥ 740,464 | ¥ 701,880 |
Fair value | 4,361 | (304) |
Currency option contracts purchased | ||
Derivative [Line Items] | ||
Notional amount | 473 | 53,846 |
Fair value | 7 | 179 |
Currency option contracts written | ||
Derivative [Line Items] | ||
Notional amount | 460 | 58,825 |
Fair value | (5) | (35) |
Currency swap agreements | ||
Derivative [Line Items] | ||
Notional amount | 893,874 | 959,777 |
Fair value | (1,006) | (5,564) |
Other currency contracts | ||
Derivative [Line Items] | ||
Notional amount | 62,080 | 68,513 |
Fair value | 1,811 | 2,084 |
Interest rate swap agreements | ||
Derivative [Line Items] | ||
Notional amount | 994,133 | 339,934 |
Fair value | (16,019) | (11,346) |
Interest rate swaption agreements | ||
Derivative [Line Items] | ||
Notional amount | 18,700 | 5,300 |
Fair value | (58) | (18) |
Equity future contracts | ||
Derivative [Line Items] | ||
Notional amount | 63,354 | 58,725 |
Fair value | (871) | 308 |
Equity swap agreements | ||
Derivative [Line Items] | ||
Notional amount | 103,409 | 63,107 |
Fair value | 18,281 | ¥ (7,640) |
Bond future contracts | ||
Derivative [Line Items] | ||
Notional amount | 56,546 | |
Fair value | 16 | |
Commodity future contracts | ||
Derivative [Line Items] | ||
Notional amount | 1,465 | |
Fair value | ¥ 0 |
Derivative Instruments and He_7
Derivative Instruments and Hedging Activities (Summary of Effects of Offsetting Derivative Assets, Derivative Liabilities, Financial Assets and Financial Liabilities) (Detail) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Derivative asset | ¥ 42,383 | ¥ 10,486 |
Financial instruments, Derivative asset | 12,614 | 3,442 |
Cash collateral, Derivative asset | 20,545 | 136 |
Net amounts, Derivative asset | 9,224 | 6,908 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 35,866 | 32,822 |
Gross amounts presented in the consolidated balance sheet, Repurchase, securities lending and similar arrangements | 567,194 | 432,820 |
Financial instruments, Repurchase, securities lending and similar arrangements | 564,874 | 432,820 |
Net amounts, Repurchase, securities lending and similar arrangements | 2,320 | |
Gross amounts presented in the consolidated balance sheet, Total liabilities | 603,060 | 465,642 |
Financial instruments, Total liabilities | 571,960 | 436,790 |
Cash collateral, Total liabilities | 23,873 | 20,191 |
Net amounts, Total liabilities | 7,227 | 8,661 |
Subject to master netting arrangement | ||
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Derivative asset | 38,281 | 6,855 |
Financial instruments, Derivative asset | 12,614 | 3,442 |
Cash collateral, Derivative asset | 20,545 | 136 |
Net amounts, Derivative asset | 5,122 | 3,277 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 31,896 | 25,872 |
Financial instruments, Derivative liability | 7,086 | 3,970 |
Cash collateral, Derivative liability | 23,873 | 20,191 |
Net amounts, Derivative liability | 937 | 1,711 |
Not subject to master netting arrangement | ||
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Derivative asset | 4,102 | 3,631 |
Net amounts, Derivative asset | 4,102 | 3,631 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 3,970 | 6,950 |
Net amounts, Derivative liability | ¥ 3,970 | ¥ 6,950 |
Pension and Severance Plans - A
Pension and Severance Plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of the indemnities under existing regulations to employees covered by defined benefits | 65.00% | |||
Expected amortization of net actuarial loss from accumulated other comprehensive income in next fiscal year | ¥ 12,185 | |||
Expected amortization of prior service cost from accumulated other comprehensive income in next fiscal year | 1,412 | |||
Increase Decrease in accumulated other comprehensive income | 81,230 | |||
Loss on the pension plan amendment | 6,358 | |||
Increase Decrease in accrued pension and severance costs | 74,872 | |||
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contribution in defined benefit pension plans | 2,000 | |||
Loss on the pension plan amendment | ¥ 6,358 | |||
Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 17.00% | |||
Japan | Fixed income funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 54.00% | |||
Japan | Other investment funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 29.00% | |||
Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contribution in defined benefit pension plans | ¥ 8,000 | |||
Loss on the pension plan amendment | ¥ 68 | ¥ 1,804 | ¥ 1,058 | |
Foreign plans | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 63.00% | |||
Foreign plans | Fixed income funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 14.00% | |||
Foreign plans | Other investment funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 23.00% |
Pension and Severance Plans (Co
Pension and Severance Plans (Components of Net Periodic Benefit Costs) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Losses on curtailments and settlements | ¥ 6,358 | ||
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 17,948 | ¥ 23,128 | ¥ 25,185 |
Interest cost | 4,162 | 7,020 | 8,024 |
Expected return on plan assets | (17,040) | (16,695) | (16,440) |
Recognized actuarial loss | 12,969 | 15,365 | 16,099 |
Amortization of prior service costs | (4,294) | (7,864) | (8,693) |
Losses on curtailments and settlements | 6,358 | ||
Net periodic benefit costs | 20,103 | 20,954 | 24,175 |
Foreign plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 3,616 | 2,780 | 3,181 |
Interest cost | 9,212 | 10,083 | 10,393 |
Expected return on plan assets | (10,916) | (11,797) | (11,687) |
Amortization of net transition asset | 5 | ||
Recognized actuarial loss | 2,606 | 2,656 | 3,014 |
Amortization of prior service costs | 2 | (269) | (574) |
Losses on curtailments and settlements | 68 | 1,804 | 1,058 |
Net periodic benefit costs | ¥ 4,588 | ¥ 5,257 | ¥ 5,390 |
Pension and Severance Plans (Ch
Pension and Severance Plans (Changes in Benefit Obligation and Plan Assets as well as Funded Status and Composition of Amounts Recognized in Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Japan | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of the fiscal year | ¥ 1,034,954 | ¥ 1,010,574 | |
Service cost | 17,948 | 23,128 | ¥ 25,185 |
Interest cost | 4,162 | 7,020 | 8,024 |
Actuarial (gain) loss | (3,330) | 29,295 | |
Curtailments and settlements | (359,205) | ||
Other | 2 | 6 | |
Benefits paid | (35,668) | (35,069) | |
Benefit obligation at end of the fiscal year | 658,863 | 1,034,954 | 1,010,574 |
Change in plan assets: | |||
Fair value of plan assets at beginning of the fiscal year | 742,204 | 711,077 | |
Actual return on plan assets | 2,942 | 18,701 | |
Employer contribution | 7,453 | 36,875 | |
Curtailments and settlements | (284,333) | ||
Benefits paid | (31,060) | (24,449) | |
Fair value of plan assets at end of the fiscal year | 437,206 | 742,204 | 711,077 |
Funded status at end of the fiscal year | (221,657) | (292,750) | |
Foreign plans | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of the fiscal year | 351,918 | 356,397 | |
Service cost | 3,616 | 2,780 | 3,181 |
Interest cost | 9,212 | 10,083 | 10,393 |
Plan participants' contributions | 487 | 462 | |
Plan amendments | 10,210 | ||
Actuarial (gain) loss | 19,776 | 1,700 | |
Foreign currency exchange rate changes | (16,919) | (1,554) | |
Curtailments and settlements | (4,434) | (6,120) | |
Effect of changes in consolidated subsidiaries | 1,947 | ||
Benefits paid | (14,055) | (13,777) | |
Benefit obligation at end of the fiscal year | 359,811 | 351,918 | 356,397 |
Change in plan assets: | |||
Fair value of plan assets at beginning of the fiscal year | 274,749 | 269,745 | |
Actual return on plan assets | 26,738 | 15,243 | |
Foreign currency exchange rate changes | (14,904) | (838) | |
Employer contribution | 9,916 | 8,542 | |
Plan participants' contributions | 487 | 462 | |
Curtailments and settlements | (3,146) | (5,960) | |
Benefits paid | (12,730) | (12,445) | |
Fair value of plan assets at end of the fiscal year | 281,110 | 274,749 | ¥ 269,745 |
Funded status at end of the fiscal year | ¥ (78,701) | ¥ (77,169) |
Pension and Severance Plans (Am
Pension and Severance Plans (Amounts Recognized in Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | ¥ 3,391 | ¥ 3,476 |
Noncurrent liabilities | (225,048) | (296,226) |
Ending balance | (221,657) | (292,750) |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | 24,777 | 14,745 |
Current liabilities | (4,355) | (4,412) |
Noncurrent liabilities | (99,123) | (87,502) |
Ending balance | ¥ (78,701) | ¥ (77,169) |
Pension and Severance Plans (_2
Pension and Severance Plans (Amounts Recognized in Accumulated Other Comprehensive Income, Excluding Tax Effects) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost (credit) | ¥ (369) | ¥ (8,859) |
Net actuarial loss | 223,354 | 311,128 |
Ending balance | 222,985 | 302,269 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost (credit) | 10,058 | (45) |
Net actuarial loss | 66,326 | 71,906 |
Ending balance | ¥ 76,384 | ¥ 71,861 |
Pension and Severance Plans (Ac
Pension and Severance Plans (Accumulated Benefit Obligations for All Defined Benefit Pension Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 654,209 | ¥ 1,029,910 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 354,100 | ¥ 336,185 |
Pension and Severance Plans (Pr
Pension and Severance Plans (Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | ¥ 645,544 | ¥ 1,022,235 |
Accumulated benefit obligations | 640,890 | 1,017,191 |
Fair value of plan assets | 420,497 | 726,009 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | 230,058 | 200,596 |
Accumulated benefit obligations | 226,080 | 196,928 |
Fair value of plan assets | ¥ 130,955 | ¥ 123,937 |
Pension and Severance Plans (We
Pension and Severance Plans (Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs) (Detail) | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Japan | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||||
Discount rate | 0.60% | 0.60% | ||
Rate of compensation increase | [1] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 0.60% | 0.80% | 0.90% | |
Expected return on plan assets | 2.60% | 2.60% | 2.40% | |
Rate of compensation increase | [1] | |||
Foreign plans | ||||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||||
Discount rate | 2.00% | 2.80% | ||
Rate of compensation increase | 2.20% | 2.30% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ||||
Discount rate | 2.80% | 2.90% | 3.10% | |
Expected return on plan assets | 4.20% | 4.40% | 4.60% | |
Rate of compensation increase | 2.30% | 2.60% | 2.40% | |
[1] | Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. |
Pension and Severance Plans (Fa
Pension and Severance Plans (Fair Values of Assets Held by Japanese and Foreign Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |||
Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | ¥ 437,206 | ¥ 742,204 | ¥ 711,077 | |||
Japan | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 24,851 | 10,689 | ||||
Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 50,646 | 140,559 | |||
Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 107,478 | 210,817 | |||
Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 71,192 | 97,519 | |||
Japan | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [4] | 1,090 | 1,537 | |||
Japan | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [5] | 58,740 | 138,455 | |||
Japan | Commodity Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [6] | 21,823 | 21,674 | |||
Japan | Private equity | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [7] | 30,191 | 27,956 | |||
Japan | Hedge funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [8] | 48,410 | 71,606 | |||
Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 22,785 | 21,392 | |||
Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 281,110 | 274,749 | 269,745 | |||
Foreign plans | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 4,632 | 4,340 | ||||
Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 18,380 | 23,766 | |||
Foreign plans | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [11] | 93,826 | 84,761 | |||
Foreign plans | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [12] | 31,769 | 32,749 | |||
Foreign plans | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 1,320 | 1,115 | ||||
Foreign plans | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [13] | 78,280 | 76,503 | |||
Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 33,569 | 33,207 | |||
Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [14] | 19,334 | 18,308 | |||
Level 1 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 73,266 | 146,402 | ||||
Level 1 | Japan | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 24,851 | 10,689 | ||||
Level 1 | Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 47,308 | 135,713 | |||
Level 1 | Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 1,087 | ||||
Level 1 | Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 20 | ||||
Level 1 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 22,394 | 27,453 | ||||
Level 1 | Foreign plans | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 4,632 | 4,340 | ||||
Level 1 | Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 17,762 | 23,113 | |||
Level 2 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 259,968 | 474,848 | ||||
Level 2 | Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 3,338 | 4,846 | |||
Level 2 | Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 106,391 | 210,817 | |||
Level 2 | Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 71,172 | 97,519 | |||
Level 2 | Japan | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [4] | 1,090 | 1,537 | |||
Level 2 | Japan | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [5] | 58,740 | 138,455 | |||
Level 2 | Japan | Commodity Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [6] | 21,823 | 21,674 | |||
Level 2 | Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | (2,586) | ||||
Level 2 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 224,241 | 212,713 | ||||
Level 2 | Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 618 | 653 | |||
Level 2 | Foreign plans | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [11] | 93,826 | 84,761 | |||
Level 2 | Foreign plans | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [12] | 31,769 | 32,749 | |||
Level 2 | Foreign plans | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 1,320 | 1,115 | ||||
Level 2 | Foreign plans | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [13] | 78,280 | 76,503 | |||
Level 2 | Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 11,272 | 11,118 | |||
Level 2 | Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [14] | 7,156 | 5,814 | |||
Level 3 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 103,972 | 120,954 | 113,779 | |||
Level 3 | Japan | Private equity | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 30,191 | [7] | 27,956 | [7] | 24,144 | |
Level 3 | Japan | Hedge funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 48,410 | [8] | 71,606 | [8] | 70,204 | |
Level 3 | Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 25,371 | [9] | 21,392 | [9] | 19,431 | |
Level 3 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 34,475 | 34,583 | 44,008 | |||
Level 3 | Foreign plans | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 5,303 | |||||
Level 3 | Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 22,297 | [9] | 22,089 | [9] | 25,976 | |
Level 3 | Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | ¥ 12,178 | [14] | ¥ 12,494 | [14] | ¥ 12,729 | |
[1] | Includes approximately 51 percent and 37 percent of Japanese equity securities, and 49 percent and 63 percent of foreign equity securities for the fiscal years ended March 31, 2019 and 2020, respectively. | |||||
[2] | Includes approximately 48 percent and 36 percent of debt securities issued by Japanese national and local governments, and 52 percent and 64 percent of debt securities issued by foreign national and local governments for the fiscal years ended March 31, 2019 and 2020, respectively. | |||||
[3] | Includes debt securities issued by Japanese and foreign corporation and government related agencies. | |||||
[4] | Includes primarily mortgage-backed securities. | |||||
[5] | Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 percent and 50 percent of investments in equity, 49 percent and 45 percent of investments in fixed income, and 1 percent and 5 percent of investments in other for the fiscal years ended March 31, 2019 and 2020, respectively. | |||||
[6] | Represents commodity futures funds. | |||||
[7] | Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. | |||||
[8] | Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. | |||||
[9] | Includes primarily private real estate investment trusts. | |||||
[10] | Includes primarily foreign equity securities. | |||||
[11] | Includes primarily foreign government debt securities. | |||||
[12] | Includes primarily foreign corporate debt securities. | |||||
[13] | Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. | |||||
[14] | Represents annuity contracts with or without profit sharing. |
Pension and Severance Plans (_3
Pension and Severance Plans (Fair Values of Assets Held by Japanese and Foreign Plans) (Parenthetical) (Detail) | Mar. 31, 2020 | Mar. 31, 2019 |
Commingled funds | Equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 50.00% | 50.00% |
Commingled funds | Fixed Income Securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 45.00% | 49.00% |
Commingled funds | Other investment funds | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 5.00% | 1.00% |
Japanese equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 37.00% | 51.00% |
Foreign equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 63.00% | 49.00% |
Japanese National and Local Government Debt Securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 36.00% | 48.00% |
Foreign National and Local Government Debt Securities | Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 64.00% | 52.00% |
Pension and Severance Plans (Su
Pension and Severance Plans (Summary of Changes in Fair Values of Japanese and Foreign Plans' Level Three Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | ¥ 742,204 | ¥ 711,077 | ||
Fair value of plan assets at end of the fiscal year | 437,206 | 742,204 | ||
Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [1] | 27,956 | ||
Fair value of plan assets at end of the fiscal year | [1] | 30,191 | 27,956 | |
Japan | Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [2] | 71,606 | ||
Fair value of plan assets at end of the fiscal year | [2] | 48,410 | 71,606 | |
Japan | Corporate bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [3] | 97,519 | ||
Fair value of plan assets at end of the fiscal year | [3] | 71,192 | 97,519 | |
Japan | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [4] | 21,392 | ||
Fair value of plan assets at end of the fiscal year | [4] | 22,785 | 21,392 | |
Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 274,749 | 269,745 | ||
Fair value of plan assets at end of the fiscal year | 281,110 | 274,749 | ||
Foreign plans | Corporate bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [5] | 32,749 | ||
Fair value of plan assets at end of the fiscal year | [5] | 31,769 | 32,749 | |
Foreign plans | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [4] | 33,207 | ||
Fair value of plan assets at end of the fiscal year | [4] | 33,569 | 33,207 | |
Foreign plans | Insurance contracts | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [6] | 18,308 | ||
Fair value of plan assets at end of the fiscal year | [6] | 19,334 | 18,308 | |
Level 3 | Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 120,954 | 113,779 | ||
Return on assets held at end of year | 2,419 | 6,709 | ||
Purchases, sales, and settlements, net | (19,401) | 466 | ||
Fair value of plan assets at end of the fiscal year | 103,972 | 120,954 | ||
Level 3 | Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 27,956 | [1] | 24,144 | |
Return on assets held at end of year | 2,649 | 4,428 | ||
Purchases, sales, and settlements, net | (414) | (616) | ||
Fair value of plan assets at end of the fiscal year | [1] | 30,191 | 27,956 | |
Level 3 | Japan | Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 71,606 | [2] | 70,204 | |
Return on assets held at end of year | (648) | 659 | ||
Purchases, sales, and settlements, net | (22,548) | 743 | ||
Fair value of plan assets at end of the fiscal year | [2] | 48,410 | 71,606 | |
Level 3 | Japan | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 21,392 | [4] | 19,431 | |
Return on assets held at end of year | 418 | 1,622 | ||
Purchases, sales, and settlements, net | 3,561 | 339 | ||
Fair value of plan assets at end of the fiscal year | [4] | 25,371 | 21,392 | |
Level 3 | Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 34,583 | 44,008 | ||
Return on assets held at end of year | 691 | 1,295 | ||
Purchases, sales, and settlements, net | 382 | (4,198) | ||
Transfers, net | (5,417) | |||
Other | [7] | (1,181) | (1,105) | |
Fair value of plan assets at end of the fiscal year | 34,475 | 34,583 | ||
Level 3 | Foreign plans | Corporate bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 5,303 | |||
Transfers, net | (5,540) | |||
Other | [7] | 237 | ||
Level 3 | Foreign plans | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 22,089 | [4] | 25,976 | |
Return on assets held at end of year | 132 | 559 | ||
Purchases, sales, and settlements, net | 755 | (3,809) | ||
Transfers, net | 123 | |||
Other | [7] | (679) | (760) | |
Fair value of plan assets at end of the fiscal year | [4] | 22,297 | 22,089 | |
Level 3 | Foreign plans | Insurance contracts | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 12,494 | [6] | 12,729 | |
Return on assets held at end of year | 559 | 736 | ||
Purchases, sales, and settlements, net | (373) | (389) | ||
Other | [7] | (502) | (582) | |
Fair value of plan assets at end of the fiscal year | [6] | ¥ 12,178 | ¥ 12,494 | |
[1] | Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. | |||
[2] | Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. | |||
[3] | Includes debt securities issued by Japanese and foreign corporation and government related agencies. | |||
[4] | Includes primarily private real estate investment trusts. | |||
[5] | Includes primarily foreign corporate debt securities. | |||
[6] | Represents annuity contracts with or without profit sharing. | |||
[7] | Primarily consists of translation adjustments. |
Pension and Severance Plans (Ex
Pension and Severance Plans (Expected Future Benefit Payments) (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Japan | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | ¥ 37,384 |
2022 | 36,228 |
2023 | 36,985 |
2024 | 38,271 |
2025 | 37,216 |
2026 - 2030 | 185,218 |
Foreign plans | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | 20,825 |
2022 | 104,988 |
2023 | 12,089 |
2024 | 12,269 |
2025 | 13,074 |
2026 - 2030 | ¥ 112,218 |
Pension and Severance Plans (To
Pension and Severance Plans (Total Defined Contribution Expenses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Japan | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution expenses | ¥ 6,925 | ¥ 3,353 | ¥ 3,237 |
Foreign plans | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution expenses | ¥ 10,313 | ¥ 11,602 | ¥ 11,379 |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Number of Shares of Common Stock Issued and Outstanding) (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Equity [Abstract] | |||
Common stock, shares issued, beginning balance | 1,271,230,341 | 1,266,552,149 | 1,263,763,660 |
Issuance of new shares | 184,900 | 149,900 | 218,000 |
Exercise of stock acquisition rights | 2,294,900 | 4,525,300 | 2,565,700 |
Conversion of convertible bonds | 86,040 | 2,992 | 4,789 |
Cancellation of treasury stock | (12,737,400) | ||
Common stock, shares issued, ending balance | 1,261,058,781 | 1,271,230,341 | 1,266,552,149 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) ¥ in Millions, $ in Millions | Nov. 18, 2019JPY (¥) | Nov. 18, 2019USD ($) | Mar. 31, 2020JPY (¥)shares | Mar. 31, 2019JPY (¥)shares | Mar. 31, 2019USD ($)shares | Mar. 26, 2020shares |
Stockholders Equity Note [Line Items] | ||||||
Common stock shares would be issued upon conversion or exercise of all convertible bonds and stock acquisition rights outstanding | shares | 36,802,040 | |||||
Number of shares repurchased | shares | 33,059,200 | 19,309,100 | 19,309,100 | |||
Stock repurchase amount | ¥ | ¥ 199,999 | ¥ 100,000 | ||||
Retained earnings available for dividends to shareholders | ¥ | 683,084 | |||||
Undistributed earnings of affiliated companies accounted for by equity method | ¥ | ¥ 61,226 | ¥ 46,477 | ||||
Treasury Stock [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Number of treasury stocks retired during the period | shares | 12,737,400 | |||||
Nile Acquisition LLC | ||||||
Stockholders Equity Note [Line Items] | ||||||
Percentage of equity ownership | 25.10% | |||||
Businesses acquisition payment of cash consideration | $ | $ 287.5 | |||||
Decrease to additional paid-in capital resulting from difference between cash consideration paid and decrease in noncontrolling interests | $ | $ 295.9 | |||||
Game Show Network, LLC [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Percentage of equity ownership | 42.00% | 42.00% | ||||
Businesses acquisition payment of cash consideration | ¥ 53,992 | $ 496 | ||||
Dividends distributed | $ | $ 129 |
Stockholders' Equity (Changes_2
Stockholders' Equity (Changes in Accumulated Other Comprehensive Income, Net of Tax) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | ¥ 4,436,690 | ¥ 3,647,157 | ¥ 3,135,422 | ||
Cumulative effect of ASU2016-01 | (2,118) | ||||
Other comprehensive income before reclassifications | (48,774) | 22,063 | (2,983) | ||
Amounts reclassified out of accumulated other comprehensive income | 92,546 | [1] | 6,929 | [1] | 8,924 |
Net other comprehensive income | 43,772 | 28,992 | 5,941 | ||
Less: Other comprehensive income attributable to noncontrolling interests | 14,082 | 7,390 | 3,918 | ||
Ending Balance | 4,789,535 | 4,436,690 | 3,647,157 | ||
Accumulated other comprehensive income (loss) | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (610,670) | (616,746) | (618,769) | ||
Cumulative effect of ASU2016-01 | (15,526) | ||||
Ending Balance | (580,980) | (610,670) | (616,746) | ||
Unrealized gains (losses) on securities | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | 135,035 | 126,191 | 126,635 | ||
Cumulative effect of ASU2016-01 | (15,526) | ||||
Other comprehensive income before reclassifications | 40,334 | 33,124 | 2,013 | ||
Amounts reclassified out of accumulated other comprehensive income | 56 | [1] | 161 | [1] | (943) |
Net other comprehensive income | 40,390 | 33,285 | 1,070 | ||
Less: Other comprehensive income attributable to noncontrolling interests | 14,234 | 8,915 | 1,514 | ||
Ending Balance | 161,191 | 135,035 | 126,191 | ||
Pension liability adjustment | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (310,457) | (296,444) | (308,736) | ||
Other comprehensive income before reclassifications | (17,519) | (23,448) | 1,779 | ||
Amounts reclassified out of accumulated other comprehensive income | 92,490 | [1] | 9,488 | [1] | 10,611 |
Net other comprehensive income | 74,971 | (13,960) | 12,390 | ||
Less: Other comprehensive income attributable to noncontrolling interests | 34 | 53 | 98 | ||
Ending Balance | (235,520) | (310,457) | (296,444) | ||
Foreign currency translation adjustments | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (435,229) | (445,251) | (436,610) | ||
Other comprehensive income before reclassifications | (75,814) | 10,071 | (4,480) | ||
Amounts reclassified out of accumulated other comprehensive income | (74) | [1] | (1,627) | [1] | (1,855) |
Net other comprehensive income | (75,888) | 8,444 | (6,335) | ||
Less: Other comprehensive income attributable to noncontrolling interests | (1,245) | (1,578) | 2,306 | ||
Ending Balance | (509,872) | (435,229) | (445,251) | ||
Unrealized gains (losses) on derivative instruments | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (19) | (1,242) | (58) | ||
Other comprehensive income before reclassifications | 1,193 | 2,316 | (2,295) | ||
Amounts reclassified out of accumulated other comprehensive income | 74 | [1] | (1,093) | [1] | 1,111 |
Net other comprehensive income | 1,267 | 1,223 | (1,184) | ||
Ending Balance | 1,248 | ¥ (19) | ¥ (1,242) | ||
Debt valuation adjustments | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Other comprehensive income before reclassifications | 3,032 | ||||
Net other comprehensive income | 3,032 | ||||
Less: Other comprehensive income attributable to noncontrolling interests | 1,059 | ||||
Ending Balance | ¥ 1,973 | ||||
[1] | Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. |
Stockholders' Equity (Reclassif
Stockholders' Equity (Reclassifications Out of Accumulated Other Comprehensive Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Cost of sales | ¥ (4,753,174) | ¥ (5,150,750) | ¥ (5,188,259) | |
Income before income taxes | 799,450 | 1,011,648 | 699,049 | |
Tax expense or (benefit) | (177,190) | (45,098) | (151,770) | |
Net income attributable to Sony Corporation's stockholders | 582,191 | 916,271 | 490,794 | |
Amount reclassified from accumulated other comprehensive income (loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income attributable to Sony Corporation's stockholders | 92,546 | 6,929 | 8,924 | |
Amount reclassified from accumulated other comprehensive income (loss) | Unrealized gains (losses) on securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Financial services revenue | 82 | 235 | (646) | |
Gain on sale of securities investments, net | (561) | |||
Income before income taxes | 82 | 235 | (1,207) | |
Tax expense or (benefit) | (26) | (74) | 264 | |
Net income attributable to Sony Corporation's stockholders | 56 | 161 | (943) | |
Amount reclassified from accumulated other comprehensive income (loss) | Unrealized gains (losses) on derivative instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Cost of sales | (1,093) | 1,111 | ||
Net sales | 106 | |||
Income before income taxes | 106 | (1,093) | 1,111 | |
Tax expense or (benefit) | (32) | |||
Net income attributable to Sony Corporation's stockholders | 74 | (1,093) | 1,111 | |
Amount reclassified from accumulated other comprehensive income (loss) | Pension liability adjustment | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pension liability adjustment | 92,514 | [1] | 9,891 | 11,034 |
Tax expense or (benefit) | (24) | (403) | (423) | |
Net income attributable to Sony Corporation's stockholders | 92,490 | 9,488 | 10,611 | |
Amount reclassified from accumulated other comprehensive income (loss) | Foreign currency translation adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Foreign currency translation adjustments | (74) | (1,627) | (1,855) | |
Net income attributable to Sony Corporation's stockholders | ¥ (74) | ¥ (1,627) | ¥ (1,855) | |
[1] | The amortization of pension and postretirement benefit components are included in the computation of net periodic pension cost. Refer to Note 15. |
Stockholders' Equity (Net Incom
Stockholders' Equity (Net Income Attributable to Sony Corporation's Stockholders and Transfers (to) from Noncontrolling Interests) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Equity [Abstract] | |||
Net income attributable to Sony Corporation's stockholders | ¥ 582,191 | ¥ 916,271 | ¥ 490,794 |
Transfers (to) from the noncontrolling interests: | |||
Increase (decrease) in additional paid-in capital for purchase of additional shares in consolidated subsidiaries | 16,372 | (22,775) | (74) |
Change from net income attributable to Sony Corporation's stockholders and transfers (to) from the noncontrolling interests | ¥ 598,563 | ¥ 893,496 | ¥ 490,720 |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plans - Additional Information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | ¥ 5,958 | ¥ 5,499 | ¥ 5,249 |
Total cash received from exercise of stock acquisition rights plans | ¥ 7,560 | ¥ 12,757 | ¥ 7,129 |
Stock Acquisition Rights Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation plan, vesting period | 3 years | ||
Weighted-average fair value per share of stock acquisition rights granted | ¥ 1,864 | ¥ 1,593 | ¥ 2,045 |
Total intrinsic value of shares exercised under stock acquisition rights plan | ¥ 7,575 | ¥ 13,325 | ¥ 6,970 |
Total unrecognized compensation expense | ¥ 5,912 | ||
Total unrecognized compensation expense, weighted-average period to be recognized | 1 year 11 months 19 days | ||
Stock Acquisition Rights Plan | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation plan, expiration period | 10 years |
Stock-Based Compensation Plan_3
Stock-Based Compensation Plans (Weighted-Average Assumptions used to Determine Fair Value of Stock Acquisition Rights Granted) (Detail) | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Share-based Payment Arrangement [Abstract] | ||||
Risk-free interest rate | 0.70% | 1.37% | 1.14% | |
Expected lives | 5 years 8 months 23 days | 5 years 11 months 23 days | 6 years 6 months 18 days | |
Expected volatility | [1] | 29.30% | 32.52% | 38.49% |
Expected dividends | 0.32% | 0.35% | 0.40% | |
[1] | Expected volatility was based on the historical volatilities of Sony Corporation’s common stock over the expected life of the stock acquisition rights. |
Stock-Based Compensation Plan_4
Stock-Based Compensation Plans (Summary of Activities Regarding Stock Acquisition Rights Plan) (Detail) - JPY (¥) | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Number of shares | |||
Exercised | 2,294,900 | 4,525,300 | 2,565,700 |
Stock Acquisition Rights Plan | |||
Number of shares | |||
Outstanding at beginning of the fiscal year | 12,213,900 | ||
Granted | 3,279,700 | ||
Exercised | 2,294,900 | ||
Forfeited or expired | 322,000 | ||
Outstanding at end of the fiscal year | 12,876,700 | 12,213,900 | |
Exercisable at end of the fiscal year | 6,235,700 | ||
Weighted average exercise price | |||
Outstanding at beginning of the fiscal year | ¥ 3,665 | ||
Granted | 6,669 | ||
Exercised | 3,294 | ||
Forfeited or expired | 5,500 | ||
Outstanding at end of the fiscal year | 4,982 | ¥ 3,665 | |
Exercisable at end of the fiscal year | ¥ 3,581 | ||
Weighted-average remaining life | |||
Outstanding at end of the fiscal year | 7 years 6 months 7 days | ||
Exercisable at end of the fiscal year | 6 years 5 months 4 days | ||
Total intrinsic Value | |||
Outstanding at end of the fiscal year | ¥ 19,459 | ||
Exercisable at end of the fiscal year | ¥ 15,552 |
Kumamoto Earthquake - Additiona
Kumamoto Earthquake - Additional Information (Detail) - JPY (¥) ¥ in Millions | 1 Months Ended | 12 Months Ended | |||
Apr. 30, 2017 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Business Interruption Loss [Line Items] | |||||
Incremental losses and associated expenses directly related to the damage caused by earthquakes, together with other expenses | ¥ 4,753,174 | ¥ 5,150,750 | ¥ 5,188,259 | ||
Insurance claim paid by insurance carriers | ¥ 20,000 | ||||
Other Operating Revenue | |||||
Business Interruption Loss [Line Items] | |||||
Difference amount recorded in other operating revenue from insurance recoveries | 9,318 | ||||
Repair Costs of Fixed Assets and a Loss on Disposal of Inventories | |||||
Business Interruption Loss [Line Items] | |||||
Incremental losses and associated expenses directly related to the damage caused by earthquakes, together with other expenses | ¥ 16,682 | ||||
Insurance recoveries | 10,682 | ||||
Insurance receivables agreed by insurance carriers | 10,000 | ||||
Remaining insurance receivables | 682 | ||||
Amount due to certain carrier as reinsurance | 2,000 | ||||
Amount paid to insurance carriers | ¥ 2,000 | ||||
Idle Facility Costs at Manufacturing Sites | |||||
Business Interruption Loss [Line Items] | |||||
Incremental losses and associated expenses directly related to the damage caused by earthquakes, together with other expenses | ¥ 9,365 | ||||
Business Interruption Coverage | |||||
Business Interruption Loss [Line Items] | |||||
Insurance receivables agreed by insurance carriers | ¥ 10,000 |
Revenue - Schedule of Receivabl
Revenue - Schedule of Receivables, Contract Assets and Contract Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Contract with customer, asset and liability | |||
Receivables from contracts with customers | [1] | ¥ 1,126,597 | ¥ 1,183,115 |
Contract assets | [1] | 13,985 | 19,147 |
Contract liabilities | [2] | ¥ 271,286 | ¥ 254,646 |
[1] | Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. | ||
[2] | Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Revenue From Contract With Customers [Line Items] | |
Revenue recognized related to contract liability | ¥ 204,265 |
Revenue recognized related to performance obligation satisfied in previous period | ¥ 61,706 |
Remaining performance obligation expected timing of satisfaction, description | Remaining (unsatisfied or partially unsatisfied) performance obligations represent future revenues not yet recorded for firm orders that have not yet been performed. Sony applies practical expedients to exclude certain information about the remaining performance obligations, primarily related to contracts with an expected original duration of less than one year, and sales-based or usage-based royalty revenue on licenses of intellectual property. |
Remaining performance obligation expected timing of satisfaction, explanation | more than half are expected to be recognized within one year and substantially all within three years. |
Amortization of contract costs | ¥ 6,420 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-31 | Minimum | |
Revenue From Contract With Customers [Line Items] | |
Remaining performance obligation expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-31 | Maximum | |
Revenue From Contract With Customers [Line Items] | |
Remaining performance obligation expected timing of satisfaction | 3 years |
Revenue - Summary of Remaining
Revenue - Summary of Remaining Performance Obligations that are Unsatisfied (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) | |
Music | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | ¥ 44,971 | [1] |
Others | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | 47,126 | |
Motion Pictures and Television Productions | Pictures | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | 569,081 | [2] |
Media Networks | Pictures | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | ¥ 22,333 | |
[1] | Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. | |
[2] | For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. |
Revenue - Schedule of Contract
Revenue - Schedule of Contract Costs (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Obtaining Contract | ||
Capitalized Contract Cost [Line Items] | ||
Capitalized contract cost | ¥ 7,464 | ¥ 6,581 |
Restructuring Charges - Additio
Restructuring Charges - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Restructuring Charges [Line Items] | |||
Restructuring and related activities, term description | The restructuring activities are generally short term in nature and are generally completed within one year of initiation. | ||
Restructuring costs | ¥ 24,710 | ¥ 33,005 | ¥ 22,379 |
Music | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 3,185 | 3,192 | 6,630 |
Pictures | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 545 | 4,795 | 2,922 |
Electronics Products & Solutions | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 14,727 | 16,011 | 3,502 |
Headcount Reduction | Music | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 3,185 | 3,192 | ¥ 6,630 |
Headcount Reduction | Pictures | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 4,795 | ||
Manufacturing Sites and Sales Officers in Overseas [Member] | Electronics Products & Solutions | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | ¥ 14,727 | ¥ 16,011 |
Restructuring Charges (Changes
Restructuring Charges (Changes in Accrued Restructuring Charges) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | ¥ 32,841 | ¥ 23,674 | ¥ 20,801 | |
Restructuring costs | 24,710 | 33,005 | 22,379 | |
Non-cash charges | (100) | (2,731) | (2,233) | |
Cash payments | (30,088) | (21,705) | (16,302) | |
Adjustments | (805) | 598 | (971) | |
Accrued restructuring charges, ending balance | 26,558 | 32,841 | 23,674 | |
Employee termination benefits | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | 25,740 | 19,486 | 11,634 | |
Restructuring costs | 22,957 | 24,449 | 18,999 | |
Cash payments | (23,385) | (19,150) | (9,950) | |
Adjustments | (674) | 955 | (1,197) | |
Accrued restructuring charges, ending balance | 24,638 | 25,740 | 19,486 | |
Non-cash write-downs and disposals, net | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 100 | 2,731 | 2,233 |
Non-cash charges | [1] | (100) | (2,731) | (2,233) |
Other associated costs | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | 7,101 | 4,188 | 9,167 | |
Restructuring costs | 1,653 | 5,825 | 1,147 | |
Cash payments | (6,703) | (2,555) | (6,352) | |
Adjustments | (131) | (357) | 226 | |
Accrued restructuring charges, ending balance | ¥ 1,920 | ¥ 7,101 | ¥ 4,188 | |
[1] | Significant asset impairments excluded from restructuring charges are described in Note 13. |
Restructuring Charges (Total Co
Restructuring Charges (Total Costs Incurred in Connection with Restructuring Programs by Segment) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | ¥ 24,710 | ¥ 33,005 | ¥ 22,379 | |
Depreciation associated with restructured assets | 256 | 86 | 26 | |
Total | 24,966 | 33,091 | 22,405 | |
Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 3,185 | 3,192 | 6,630 | |
Total | 3,185 | 3,192 | 6,630 | |
Pictures | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 545 | 4,795 | 2,922 | |
Total | 545 | 4,795 | 2,922 | |
Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 14,727 | 16,011 | 3,502 | |
Depreciation associated with restructured assets | 86 | 0 | ||
Total | 14,727 | 16,097 | 3,502 | |
Imaging & Sensing Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 28 | |||
Total | 28 | |||
All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 6,253 | 9,007 | 9,297 | |
Depreciation associated with restructured assets | 256 | 26 | ||
Total | 6,509 | 9,007 | 9,323 | |
Employee termination benefits | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 22,957 | 24,449 | 18,999 | |
Employee termination benefits | Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 3,179 | 2,991 | 6,358 | |
Employee termination benefits | Pictures | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 545 | 4,795 | 2,922 | |
Employee termination benefits | Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 14,500 | 11,437 | 3,384 | |
Employee termination benefits | Imaging & Sensing Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 28 | |||
Employee termination benefits | All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 4,733 | 5,226 | 6,307 | |
Other associated costs | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 1,753 | 8,556 | 3,380 |
Other associated costs | Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 6 | 201 | 272 |
Other associated costs | Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 227 | 4,574 | 118 |
Other associated costs | All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | ¥ 1,520 | ¥ 3,781 | ¥ 2,990 |
[1] | Other associated costs includes non-cash write-downs and disposals, net |
Supplemental Consolidated Sta_3
Supplemental Consolidated Statements of Income Information (Components of Other Operating (Income) Expense, Net) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Component Of Other Operating Income And Expense [Line Items] | ||||
(Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net | [1] | ¥ (12,801) | ¥ (1,557) | ¥ (29,613) |
(Gain) loss on sale, disposal or impairment of assets, net | [2] | 29,778 | 46,928 | 38,599 |
Other | (1,495) | |||
Other operating (income) expense, net | (3,611) | (71,568) | 4,072 | |
AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares | [3] | (1,827) | ||
EMI Music Publishing | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares | [3] | ¥ (116,939) | ||
SRE shares [Member] | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement and sale of SRE shares | [4] | ¥ (17,266) | ||
Sony City Osaki | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on sale of building | [5] | ¥ (4,914) | ||
[1] | Refer to Notes 25 and 26. | |||
[2] | Refer to Notes 9, 13, 20 and 26. | |||
[3] | Refer to Notes 5 and 25. | |||
[4] | Refer to Note 5. | |||
[5] | A portion of gain on sale and leaseback transactions is deferred and is amortized on a straight-line basis over the lease term. |
Supplemental Consolidated Sta_4
Supplemental Consolidated Statements of Income Information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Components of Other Income (Expense) [Line Items] | |||
Research and development costs | ¥ 499,290 | ¥ 481,202 | ¥ 458,518 |
Advertising costs included in selling general and administrative expenses | 359,458 | 385,500 | 407,106 |
Selling, general and administrative expenses | 1,502,625 | 1,576,825 | 1,583,197 |
Shipping and Handling [Member] | |||
Components of Other Income (Expense) [Line Items] | |||
Selling, general and administrative expenses | ¥ 46,196 | ¥ 51,757 | ¥ 46,252 |
Income Taxes (Components of Dom
Income Taxes (Components of Domestic and Foreign Income and Provision for Current and Deferred Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income before income taxes: | |||
Sony Corporation and all subsidiaries in Japan | ¥ 466,253 | ¥ 310,020 | ¥ 436,494 |
Foreign subsidiaries | 333,197 | 701,628 | 262,555 |
Income before income taxes | 799,450 | 1,011,648 | 699,049 |
Income taxes - Current: | |||
Sony Corporation and all subsidiaries in Japan | 105,755 | 82,081 | 69,697 |
Foreign subsidiaries | 66,636 | 84,667 | 57,988 |
Current | 172,391 | 166,748 | 127,685 |
Income taxes - Deferred: | |||
Sony Corporation and all subsidiaries in Japan | 9,421 | 17,907 | 29,640 |
Foreign subsidiaries | (4,622) | (139,557) | (5,555) |
Deferred | 4,799 | (121,650) | 24,085 |
Total income tax expense | ¥ 177,190 | ¥ 45,098 | ¥ 151,770 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Statutory Tax Rate and Effective Tax Rate) (Detail) | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Reconciliation of Effective Income Tax Rate [Line Items] | |||
Statutory tax rate | 31.50% | 31.50% | 31.50% |
Non-deductible expenses | 0.30% | 0.70% | 0.80% |
Income tax credits | (1.70%) | (1.60%) | (0.60%) |
Change in statutory tax rate and law | (0.40%) | (0.30%) | (1.20%) |
Change in valuation allowances (other than the 2019 reversal of Sony Americas Holding Inc. ("SAHI") and its U.S. consolidated tax filing group below) | (8.10%) | 2.30% | (5.20%) |
The 2019 reversal of valuation allowances of SAHI and its U.S. consolidated tax filing group | (15.30%) | ||
Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures | 0.20% | (0.10%) | (0.80%) |
Lower tax rate applied to life and non-life insurance business in Japan | (0.60%) | (0.50%) | (0.80%) |
Foreign income tax differential | (2.40%) | (6.40%) | (2.60%) |
Adjustments to tax reserves | 0.90% | (0.30%) | (0.80%) |
Effect of equity in net income of affiliated companies | 0.00% | 0.00% | 0.00% |
The remeasurement gain for the equity interest in EMI | (2.40%) | ||
Japan controlled foreign company taxation | 5.30% | 0.00% | |
Other | (2.80%) | (3.10%) | 1.40% |
Effective income tax rate | 22.20% | 4.50% | 21.70% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 12 Months Ended | 20 Months Ended | 27 Months Ended | ||
Dec. 31, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2020 | |
Income Taxes [Line Items] | ||||||
Statutory tax rate | 31.50% | 31.50% | 31.50% | |||
Minimum base erosion anti abuse tax | 10.00% | 6.25% | ||||
Beat threshold percentage | 3.00% | |||||
Net increase (decrease) in total valuation allowance | ¥ 154,201 | ¥ 114,871 | ¥ 176,721 | ¥ 152,129 | ||
Valuation allowance | 608,243 | 723,114 | ¥ 608,243 | |||
Undistributed earnings of foreign subsidiaries and corporate joint ventures not expected to be remitted, for which deferred income taxes have not been provided | 1,019,525 | 1,019,525 | ||||
Deferred tax liabilities not accounted for undistributed earnings | 16,312 | 16,312 | ||||
Gain on sale of subsidiary stock | 61,544 | |||||
Operating loss carryforwards for tax purposes | 348,714 | 413,494 | 348,714 | |||
Operating loss carryforwards for tax purposes with no expiration period | 96,890 | 96,890 | ||||
Tax credit carryforwards | 94,900 | 117,471 | 94,900 | |||
Tax credit carryforwards with no expiration period | 15,059 | 15,059 | ||||
Interest expense recorded | 1,276 | 1,479 | 1,053 | |||
Penalties recorded | 117 | 218 | 876 | |||
Liabilities recorded for the payments of interest | 8,033 | 9,309 | 10,788 | 8,033 | ||
Liabilities recorded for the payments of penalties | 4,971 | ¥ 4,855 | ¥ 4,637 | 4,971 | ||
Maximum unrecognized tax benefits expected reduction within the next 12 months | 1,791 | 1,791 | ||||
National Taxes | ||||||
Income Taxes [Line Items] | ||||||
Valuation allowance | 274,761 | 274,761 | ||||
Local Taxes | ||||||
Income Taxes [Line Items] | ||||||
Valuation allowance | ¥ 125,465 | ¥ 125,465 | ||||
U.S. [Member] | ||||||
Income Taxes [Line Items] | ||||||
Statutory tax rate | 21.00% | 21.00% | 35.00% | 21.00% | ||
Earliest Tax Year | ||||||
Income Taxes [Line Items] | ||||||
Total net operating loss carryforwards expiration date | Mar. 31, 2021 | |||||
Tax credit carryforwards expiration date | Mar. 31, 2021 | |||||
Earliest Tax Year | Domestic country | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2010 | |||||
Earliest Tax Year | Foreign country | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2006 | |||||
Earliest Tax Year | Us Tax Authority [Member] | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2016 | |||||
Latest Tax Year | ||||||
Income Taxes [Line Items] | ||||||
Total net operating loss carryforwards expiration date | Mar. 31, 2024 | |||||
Tax credit carryforwards expiration date | Mar. 31, 2030 | |||||
Latest Tax Year | Domestic country | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2019 | |||||
Latest Tax Year | Foreign country | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2019 | |||||
Latest Tax Year | Us Tax Authority [Member] | ||||||
Income Taxes [Line Items] | ||||||
Tax years subject to examinations | 2019 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Deferred tax assets: | ||
Operating loss carryforwards for tax purposes | ¥ 348,714 | ¥ 413,494 |
Accrued pension and severance costs | 77,559 | 103,652 |
Amortization including film costs | 65,349 | 86,196 |
Lease liability | 100,720 | |
Warranty reserves and accrued expenses | 116,234 | 108,515 |
Future insurance policy benefits | 42,056 | 36,683 |
Inventory | 15,512 | 19,716 |
Depreciation | 39,085 | 34,638 |
Tax credit carryforwards | 94,900 | 117,471 |
Loss on equity securities | 11,815 | |
Reserve for doubtful accounts | 9,090 | 9,136 |
Impairment of investments | 6,029 | 12,278 |
Deferred revenue | 24,420 | 19,081 |
Other | 122,591 | 169,897 |
Gross deferred tax assets | 1,074,074 | 1,130,757 |
Less: Valuation allowance | (608,243) | (723,114) |
Total deferred tax assets | 465,831 | 407,643 |
Deferred tax liabilities: | ||
Insurance acquisition costs | (170,868) | (169,244) |
Future insurance policy benefits | (193,315) | (181,052) |
Right-of-use assets | (96,970) | |
Unrealized gains on securities | (92,791) | (75,573) |
Gain on equity securities | 0 | (33,082) |
Intangible assets acquired through stock exchange offerings | (23,949) | (23,949) |
Undistributed earnings of foreign subsidiaries and corporate joint ventures | (25,359) | (15,758) |
Investment in M3 | (38,303) | (37,007) |
Other | (47,319) | (62,092) |
Gross deferred tax liabilities | (804,997) | (736,578) |
Net deferred tax liabilities | (339,166) | (328,935) |
Pictures | ||
Deferred tax liabilities: | ||
Unbilled accounts receivable in the Pictures segment | (26,214) | (44,842) |
EMI Music Publishing | ||
Deferred tax liabilities: | ||
Intangible assets acquired through stock exchange offerings | ¥ (89,909) | ¥ (93,979) |
Income Taxes (Reconciliation _2
Income Taxes (Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of the fiscal year | ¥ 50,577 | ¥ 95,425 | ¥ 119,529 |
Reductions for tax positions of prior years | (331) | (31,396) | (8,809) |
Additions for tax positions of prior years | 162 | 3,094 | 4,681 |
Additions based on tax positions related to the current year | 8,074 | 2,594 | 5,740 |
Settlements | (13,240) | (4,235) | (21,893) |
Lapse in statute of limitations | (1,251) | (14,824) | (3,469) |
Foreign currency translation adjustments | (2,723) | (81) | (354) |
Balance at end of the fiscal year | 41,268 | 50,577 | 95,425 |
Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate | ¥ 29,539 | ¥ 35,004 | ¥ 39,308 |
Reconciliation of the Differe_3
Reconciliation of the Differences between Basic and Diluted EPS (Reconciliation of the Differences between Basic and Diluted EPS) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |||
Net income attributable to Sony Corporation's stockholders for basic and diluted EPS computation | ¥ 582,191 | ¥ 916,271 | ¥ 490,794 |
Weighted-average shares outstanding | 1,234,408 | 1,266,592 | 1,263,895 |
Effect of dilutive securities: | |||
Stock acquisition rights | 3,853 | 4,088 | 4,565 |
Zero coupon convertible bonds | 23,994 | 23,966 | 23,960 |
Weighted-average shares for diluted EPS computation | 1,262,255 | 1,294,646 | 1,292,420 |
Basic EPS | ¥ 471.64 | ¥ 723.41 | ¥ 388.32 |
Diluted EPS | ¥ 461.23 | ¥ 707.74 | ¥ 379.75 |
Reconciliation of the Differe_4
Reconciliation of the Differences between Basic and Diluted EPS - Additional Information (Detail) - shares shares in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |||
Potential shares of common stock upon the exercise of stock acquisition rights and convertible bonds excluded from the computation of diluted EPS | 3,212 | 5,731 | 2,921 |
Variable Interest Entities - Ad
Variable Interest Entities - Additional Information (Detail) - Joint ventures with companies involved in production and creation of recorded music ¥ in Millions | Mar. 31, 2020JPY (¥) |
Variable Interest Entity [Line Items] | |
Variable interest entity primary beneficiary, aggregate total liabilities | ¥ 25,100 |
Joint ventures with companies involved in production and creation of recorded music | |
Variable Interest Entity [Line Items] | |
Variable interest entity primary beneficiary, aggregate total assets | ¥ 46,154 |
Variable Interest Entities (Sum
Variable Interest Entities (Summary of the Carrying Value of the Variable Interests) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | ¥ 924,450 | ¥ 462,301 | |
Equity securities | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | [1] | 587,602 | 146,031 |
Securitized Products | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 210,641 | 195,190 | |
Foreign Corporate Bonds | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | [2] | 82,488 | 95,392 |
Other investments | |||
Variable Interest Entity [Line Items] | |||
Maximum exposure to loss | 43,719 | 25,688 | |
Marketable securities | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 621,225 | 165,441 | |
Marketable securities | Equity securities | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | [1] | 579,773 | 135,552 |
Marketable securities | Foreign Corporate Bonds | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | [2] | 29,889 | |
Marketable securities | Other investments | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 41,452 | ||
Securities investments and other | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 274,159 | 269,725 | |
Securities investments and other | Equity securities | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | [1] | 6,229 | 8,485 |
Securities investments and other | Securitized Products | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 210,641 | 191,049 | |
Securities investments and other | Foreign Corporate Bonds | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | [2] | 41,036 | 65,503 |
Securities investments and other | Other investments | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 16,253 | 4,688 | |
Prepaid expenses and other current assets | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | 21,000 | 21,000 | |
Prepaid expenses and other current assets | Other investments | |||
Variable Interest Entity [Line Items] | |||
Carrying Amount, Assets | ¥ 21,000 | ¥ 21,000 | |
[1] | Equity securities include Investment funds. | ||
[2] | Foreign corporate bonds include repackaged bonds. |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) ¥ in Millions, $ in Millions | Jan. 29, 2020JPY (¥) | Dec. 09, 2019JPY (¥) | Dec. 09, 2019USD ($) | Nov. 15, 2019JPY (¥) | Nov. 15, 2019USD ($) | Nov. 14, 2018JPY (¥) | Nov. 14, 2018USD ($) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2018JPY (¥) | Dec. 31, 2019 | Dec. 19, 2019 | Dec. 09, 2019USD ($) | Nov. 15, 2019USD ($) | Nov. 14, 2018USD ($) |
Business Acquisition [Line Items] | ||||||||||||||||||
Goodwill | ¥ 768,552 | ¥ 783,888 | ¥ 768,552 | ¥ 530,492 | ||||||||||||||
Revenue | 8,259,885 | 8,665,687 | 8,543,982 | |||||||||||||||
Operating income | 845,459 | 894,235 | 734,860 | |||||||||||||||
Percentage of equity interest | 50.00% | 44.50% | 56.30% | |||||||||||||||
Other acquisitions | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business acquisition total consideration | 6,853 | 7,743 | 27,459 | |||||||||||||||
Goodwill | 5,773 | 6,778 | 5,773 | 20,013 | ||||||||||||||
Intangible assets acquired | 4,422 | ¥ 2,301 | 4,422 | ¥ 4,980 | ||||||||||||||
EMI Music Publishing | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 257,168 | $ 2,269 | ||||||||||||||||
Step acquisition, percentage of equity interest acquired | 60.00% | 60.00% | ||||||||||||||||
Revenue | 18,420 | $ 167 | 28,871 | $ 260 | ||||||||||||||
Operating income | ¥ 4,522 | $ 41 | 6,432 | 58 | ||||||||||||||
Step acquisition, percentage of equity ownership immediately before additional acquisition | 40.00% | 40.00% | ||||||||||||||||
Equity interest owned prior to acquisition at fair value | 141,141 | 1,245 | ||||||||||||||||
Recognized gain on remeasured equity interest | ¥ 116,939 | $ 1,032 | ||||||||||||||||
Interest bearing debt amount | ¥ 148,621 | $ 1,311 | ||||||||||||||||
Debt repayment | ¥ 108,942 | $ 961 | ||||||||||||||||
Weighted average amortization period | 43 years | 43 years | ||||||||||||||||
Insomniac Games, Inc | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business acquisition total consideration | ¥ 24,895 | $ 229 | ||||||||||||||||
Goodwill | 17,945 | $ 164 | ||||||||||||||||
Intangible assets acquired | ¥ 6,794 | $ 62 | ||||||||||||||||
Silvergate Media Group | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 21,017 | $ 192 | ||||||||||||||||
Goodwill | 11,431 | $ 106 | ||||||||||||||||
Intangible assets acquired | ¥ 3,387 | $ 32 | ||||||||||||||||
Silvergate Topco Limited | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Step acquisition, percentage of equity interest acquired | 100.00% | 100.00% | ||||||||||||||||
Silvergate BP Bidco Limited | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Step acquisition, percentage of equity interest acquired | 31.00% | 31.00% | ||||||||||||||||
Acquisition of equity interests in joint ventures in the life insurance business | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 18,750 | |||||||||||||||||
Step acquisition, percentage of equity interest acquired | 50.00% | |||||||||||||||||
Equity interest owned prior to acquisition at fair value | ¥ 13,932 | |||||||||||||||||
Recognized gain on remeasured equity interest | ¥ 1,827 | |||||||||||||||||
Percentage of equity interest | 100.00% |
Acquisitions - Summary of Purch
Acquisitions - Summary of Purchase Price Allocation (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
Business Combination, Transactions [Line Items] | |||
Goodwill | ¥ 783,888 | ¥ 768,552 | ¥ 530,492 |
Measurement Period Adjustments [Member] | |||
Business Combination, Transactions [Line Items] | |||
Prepaid expenses and other current assets | (98) | ||
Goodwill | (1,206) | ||
Total assets | (1,304) | ||
Accrued income and other taxes | (69) | ||
Deferred income taxes | (1,235) | ||
Total liabilities | (1,304) | ||
Previously Reported [Member] | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 12,971 | ||
Notes and accounts receivable, trade and contract assets | 32,287 | ||
Prepaid expenses and other current assets | 10,220 | ||
Securities investments and other | 1,476 | ||
Intangibles, net | 420,534 | ||
Goodwill | 237,271 | ||
Other | 10,023 | ||
Total assets | 724,782 | ||
Notes and accounts payable, trade | 1,731 | ||
Accounts payable, other and accrued expenses | 70,675 | ||
Accrued income and other taxes | 3,082 | ||
Long-term debt | 148,621 | ||
Accrued pension and severance costs | 1,947 | ||
Deferred income taxes | 94,849 | ||
Other | 5,564 | ||
Total liabilities | 326,469 | ||
Acquired Assets and Liabilities at Fair Value Final [Member] | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 12,971 | ||
Notes and accounts receivable, trade and contract assets | 32,287 | ||
Prepaid expenses and other current assets | 10,122 | ||
Securities investments and other | 1,476 | ||
Intangibles, net | 420,534 | ||
Goodwill | 236,065 | ||
Other | 10,023 | ||
Total assets | 723,478 | ||
Notes and accounts payable, trade | 1,731 | ||
Accounts payable, other and accrued expenses | 70,675 | ||
Accrued income and other taxes | 3,013 | ||
Long-term debt | 148,621 | ||
Accrued pension and severance costs | 1,947 | ||
Deferred income taxes | 93,614 | ||
Other | 5,564 | ||
Total liabilities | ¥ 325,165 | ||
AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 27,380 | ||
Marketable securities | 530,851 | ||
Prepaid expenses and other current assets | 21,933 | ||
Goodwill | 3,609 | ||
Other | 406 | ||
Total assets | 599,508 | ||
Future insurance policy benefits and other | 66,599 | ||
Policyholders' account in the life insurance business | 495,248 | ||
Other | 4,979 | ||
Total liabilities | ¥ 566,826 |
Acquisitions - Unaudited Supple
Acquisitions - Unaudited Supplemental Pro Forma Financial Information (Detail) - EMI Music Publishing - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net sales | ¥ 8,738,209 | ¥ 8,612,280 |
Operating income | 801,973 | 854,786 |
Net income attributable to Sony Corporation's stockholders | ¥ 817,629 | ¥ 584,019 |
- Basic EPS | ¥ 645.53 | ¥ 462.08 |
- Diluted EPS | ¥ 631.55 | ¥ 451.88 |
Divestitures - Additional Infor
Divestitures - Additional Information (Detail) - Sony Electronics Huanan Co., Ltd [Member] ¥ in Millions, $ in Millions | Apr. 01, 2017USD ($) | Mar. 31, 2018JPY (¥) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Consideration for sale of subsidiaries | $ 234 | |
Sales price of business | $ 95 | |
Gain (loss) on sale of investments | ¥ | ¥ 28,262 |
Collaborative Arrangements - Ad
Collaborative Arrangements - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Cost of sales | ¥ 4,753,174 | ¥ 5,150,750 | ¥ 5,188,259 |
Net sales | 8,259,885 | 8,665,687 | 8,543,982 |
Pictures | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Net sales | ¥ 1,010,714 | 985,270 | 1,010,173 |
Pictures | Collaborative Arrangements, Co-production and Distribution Arrangements | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaborative arrangement, income statement classification description | Sony and the other participants typically share in the profits from the distribution of the product in all media or markets. For motion pictures, if Sony is a net receiver of (1) Sony’s share of the profits from the media or markets distributed by the other participants less (2) the other participants’ share of the profits from the media or markets distributed by Sony then the net amount is recorded as net sales. If Sony is a net payer then the net amount is recorded in cost of sales. For television programming, Sony records its share of the profits from the media or markets distributed by the other participants as sales, and the other participants’ share of the profits from the media or markets distributed by Sony as cost of sales. | ||
Cost of sales | ¥ 33,921 | 42,343 | 49,547 |
Net sales | ¥ 21,052 | ¥ 22,702 | ¥ 24,280 |
Commitments, Contingent Liabi_3
Commitments, Contingent Liabilities and Other - Additional Information (Detail) € in Millions, ¥ in Millions | 1 Months Ended | 12 Months Ended |
Oct. 31, 2015EUR (€) | Mar. 31, 2020JPY (¥) | |
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 684,911 | |
Litigation case about optical disk drive business, fine from European Commission | € | € 31 | |
Maximum potential amount of future payments under guarantees | 2,214 | |
Financial Services | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Unused portion of lines of credit extended to customers | 34,306 | |
Pictures | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 126,917 | |
Purchase commitments and other outstanding, term | 3 years | |
Music | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 128,678 | |
Purchase commitments and other outstanding, term | 5 years | |
Game & Network Services | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 29,243 | |
Purchase commitments and other outstanding, term | 8 years | |
Advertising and Promotional Rights | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 5,162 | |
Purchase commitments and other outstanding, term | 1 year | |
Fixed Assets | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 199,145 | |
Materials | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 115,670 |
Commitments, Contingent Liabi_4
Commitments, Contingent Liabilities and Other (Schedule of Aggregate Amounts of Year-by-Year Payment of Purchase Commitments) (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2021 | ¥ 378,319 |
2022 | 103,033 |
2023 | 76,541 |
2024 | 49,549 |
2025 | 36,936 |
Later fiscal years | 40,533 |
Total | ¥ 684,911 |
Commitments, Contingent Liabi_5
Commitments, Contingent Liabilities and Other (Changes in Product Warranty Liability) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | |||
Balance at beginning of the fiscal year | ¥ 33,005 | ¥ 44,717 | ¥ 57,694 |
Additional liabilities for warranties | 21,448 | 23,041 | 32,179 |
Settlements (in cash or in kind) | (21,491) | (26,326) | (30,570) |
Changes in estimate for pre-existing warranty reserve | (562) | (7,370) | (16,802) |
Translation adjustments | (593) | (1,057) | 2,216 |
Balance at end of the fiscal year | ¥ 31,807 | ¥ 33,005 | ¥ 44,717 |
Business Segment Information (C
Business Segment Information (Components of Segment Sales and Operating Revenue) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,259,885 | ¥ 8,665,687 | ¥ 8,543,982 |
Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,919,760 | 2,224,622 | 1,848,298 |
Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 838,592 | 795,025 | 784,792 |
Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,010,714 | 985,270 | 1,010,173 |
Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,969,880 | 2,303,167 | 2,582,813 |
Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 985,259 | 770,622 | 726,892 |
Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,299,847 | 1,274,708 | 1,221,235 |
All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 214,999 | 299,806 | 351,527 |
Intersegment | Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 57,791 | 86,250 | 95,514 |
Intersegment | Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 11,317 | 12,464 | 15,203 |
Intersegment | Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,140 | 1,603 | 894 |
Intersegment | Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 21,388 | 17,461 | 17,542 |
Intersegment | Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 85,317 | 108,708 | 123,118 |
Intersegment | Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 7,901 | 7,831 | 7,142 |
Intersegment | All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 36,421 | 45,931 | 55,647 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,977,551 | 2,310,872 | 1,943,812 |
Operating Segments | Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 849,909 | 807,489 | 799,995 |
Operating Segments | Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,011,854 | 986,873 | 1,011,067 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,991,268 | 2,320,628 | 2,600,355 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,070,576 | 879,330 | 850,010 |
Operating Segments | Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,307,748 | 1,282,539 | 1,228,377 |
Operating Segments | All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 251,420 | 345,737 | 407,174 |
Corporate and Eliminations | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | ¥ (200,441) | ¥ (267,781) | ¥ (296,808) |
Business Segment Information _2
Business Segment Information (Components of Segment Profit or Loss) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | ¥ 845,459 | ¥ 894,235 | ¥ 734,860 |
Other income | 21,949 | 144,735 | 23,728 |
Other expenses | (67,958) | (27,322) | (59,539) |
Consolidated income before income taxe | 799,450 | 1,011,648 | 699,049 |
Operating Segments | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 917,647 | 968,910 | 798,943 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 238,400 | 311,092 | 177,478 |
Operating Segments | Music | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 142,345 | 232,487 | 127,786 |
Operating Segments | Pictures | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 68,157 | 54,599 | 41,110 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 87,276 | 76,508 | 133,129 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 235,584 | 143,874 | 164,023 |
Operating Segments | Financial Services | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 129,597 | 161,477 | 178,947 |
Operating Segments | All Other | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 16,288 | (11,127) | (23,530) |
Corporate and Eliminations | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | ¥ (72,188) | ¥ (74,675) | ¥ (64,083) |
Business Segment Information -
Business Segment Information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Operating income (loss) | ¥ 845,459 | ¥ 894,235 | ¥ 734,860 |
Electronics Products & Solutions | Mobile Communications | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | ¥ (21,057) | ¥ (97,136) | ¥ (27,636) |
Business Segment Information _3
Business Segment Information (Components of Other Significant Items) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | ¥ 9,637 | ¥ (2,999) | ¥ 8,569 |
Depreciation and amortization | 416,642 | 374,026 | 361,444 |
Corporate | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Depreciation and amortization | 27,617 | 31,049 | 40,375 |
Operating Segments | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Depreciation and amortization | 389,025 | 342,977 | 321,069 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 0 | ||
Depreciation and amortization | 29,135 | 29,023 | 29,091 |
Operating Segments | Music | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 4,239 | (6,915) | 4,483 |
Depreciation and amortization | 29,137 | 21,259 | 18,230 |
Operating Segments | Pictures | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | (629) | 106 | (129) |
Depreciation and amortization | 21,665 | 24,081 | 24,458 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 136 | (38) | (102) |
Depreciation and amortization | 63,291 | 61,749 | 64,279 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 0 | ||
Depreciation and amortization | 134,035 | 110,746 | 99,258 |
Operating Segments | Financial Services | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | (104) | (682) | (61) |
Depreciation and amortization | 106,667 | 91,179 | 79,843 |
Operating Segments | All Other | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 5,995 | 4,530 | 4,378 |
Depreciation and amortization | ¥ 5,095 | ¥ 4,940 | ¥ 5,910 |
Business Segment Information (S
Business Segment Information (Sales and Operating Revenue to External Customers by Product Category) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,259,885 | ¥ 8,665,687 | ¥ 8,543,982 |
Game & Network Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,919,760 | 2,224,622 | 1,848,298 |
Game & Network Services | Digital Software and Add-on Content [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,010,296 | 1,102,231 | 762,220 |
Game & Network Services | Network Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 337,265 | 326,524 | 270,972 |
Game & Network Services | Hardware and Others [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 572,199 | 795,867 | 815,106 |
Music | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 838,592 | 795,025 | 784,792 |
Music | Recorded Music — Streaming [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 276,039 | 227,513 | 197,439 |
Music | Recorded Music — Others [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 191,114 | 199,413 | 249,521 |
Music | Music Publishing | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 157,478 | 106,666 | 74,360 |
Music | Visual Media and Platform | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 213,961 | 261,433 | 263,472 |
Pictures | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,010,714 | 985,270 | 1,010,173 |
Pictures | Motion Pictures | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 475,061 | 436,017 | 448,945 |
Pictures | Television Productions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 301,224 | 288,816 | 289,024 |
Pictures | Media Networks | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 234,429 | 260,437 | 272,204 |
Electronics Products & Solutions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,969,880 | 2,303,167 | 2,582,813 |
Electronics Products & Solutions | Televisions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 646,513 | 788,423 | 861,763 |
Electronics Products & Solutions | Audio and Video | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 346,060 | 362,580 | 357,194 |
Electronics Products & Solutions | Other Products and Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 231,021 | 243,328 | 234,622 |
Electronics Products & Solutions | Still and Video Cameras | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 384,142 | 421,506 | 415,318 |
Electronics Products & Solutions | Mobile Communications | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 362,144 | 487,330 | 713,916 |
Imaging & Sensing Solutions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 985,259 | 770,622 | 726,892 |
Financial Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,299,847 | 1,274,708 | 1,221,235 |
All Other | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 214,999 | 299,806 | 351,527 |
Corporate | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 20,834 | ¥ 12,467 | ¥ 18,252 |
Business Segment Information _4
Business Segment Information (Sales and Operating Revenue Attributed to Countries Based on Location of Customers and Long-Lived Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,259,885 | ¥ 8,665,687 | ¥ 8,543,982 |
Property, plant and equipment, net and right-of-use assets | 1,301,254 | 777,053 | |
Japan | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 2,472,479 | 2,591,784 | 2,625,619 |
Property, plant and equipment, net and right-of-use assets | 946,922 | 590,694 | |
United States | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,864,390 | 1,982,135 | 1,835,705 |
Property, plant and equipment, net and right-of-use assets | 214,226 | 113,581 | |
Europe | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,697,791 | 1,862,166 | 1,841,457 |
Property, plant and equipment, net and right-of-use assets | 67,799 | 22,622 | |
China | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 845,235 | 770,416 | 674,718 |
Property, plant and equipment, net and right-of-use assets | 17,996 | 11,694 | |
Asia Pacific | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 892,026 | 912,193 | 1,024,179 |
Property, plant and equipment, net and right-of-use assets | 46,932 | 34,273 | |
Other Areas | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 487,964 | 546,993 | ¥ 542,304 |
Property, plant and equipment, net and right-of-use assets | ¥ 7,379 | ¥ 4,189 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | May 20, 2020 | May 19, 2020 | Mar. 31, 2020 | Jan. 29, 2020 | Dec. 31, 2019 | Dec. 19, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Subsequent Event [Line Items] | ||||||||
Equity method investment, ownership | 50.00% | 44.50% | 56.30% | |||||
Minimum | ||||||||
Subsequent Event [Line Items] | ||||||||
Equity method investment, ownership | 20.00% | 20.00% | 20.00% | |||||
Subsequent event | Sony Financial Holdings Inc. | ||||||||
Subsequent Event [Line Items] | ||||||||
Equity method investment, ownership shares held | 283,050,000 | |||||||
Equity method investment, ownership | 65.00% | |||||||
Subsequent event | Sony Financial Holdings Inc. | Tender Offer | ||||||||
Subsequent Event [Line Items] | ||||||||
Approximate purchase price to be paid | ¥ 395,538 | |||||||
Sale of stock, number of shares issued in transaction | 152,130,036 | |||||||
Subsequent event | Sony Financial Holdings Inc. | Tender Offer | Common stock | ||||||||
Subsequent Event [Line Items] | ||||||||
Sale of stock, price per share | ¥ 2,600 | |||||||
Subsequent event | Sony Financial Holdings Inc. | Tender Offer | Rights | ||||||||
Subsequent Event [Line Items] | ||||||||
Sale of stock, price per share | ¥ 259,900 | |||||||
Subsequent event | Minimum | Sony Financial Holdings Inc. | Tender Offer | ||||||||
Subsequent Event [Line Items] | ||||||||
Sale of stock, number of shares issued in transaction | 7,070,000 |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Allowance for doubtful accounts | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | ¥ 25,440 | ¥ 48,663 | ¥ 53,150 |
Beginning adjustment | (25,114) | ||
Additions | 9,006 | 7,112 | 45,515 |
Deductions | (6,908) | (5,532) | (51,302) |
Other | (1,665) | 311 | 1,300 |
Balance at end of period | 25,873 | 25,440 | 48,663 |
Valuation allowance - Deferred tax assets | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | 723,114 | 899,835 | 1,051,964 |
Additions | 53,245 | 116,938 | 70,797 |
Deductions | (161,547) | (309,226) | (123,597) |
Other | (6,569) | 15,567 | (99,329) |
Balance at end of period | ¥ 608,243 | ¥ 723,114 | ¥ 899,835 |