Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2024 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2024 |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | SONY GROUP CORPORATION |
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 |
Entity Interactive Data Current | Yes |
Document Registration Statement | false |
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 | International Financial Reporting Standards |
ICFR Auditor Attestation Flag | true |
Auditor Name | PricewaterhouseCoopers Japan LLC |
Auditor Firm ID | 2743 |
Auditor Location | Tokyo, Japan |
Document Financial Statement Error Correction [Flag] | false |
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 |
Contact Personnel Email Address | ir@sony.com |
American depositary shares [member] | |
Document Information [Line Items] | |
Trading Symbol | SONY |
Entity Common Stock, Shares Outstanding | 108,397,166 |
Security Exchange Name | NYSE |
Title of 12(b) Security | American Depositary Shares |
Common stock [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 1,221,448,886 |
Security Exchange Name | NONE |
Title of 12(b) Security | Common Stock |
No Trading Symbol Flag | true |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Current assets: | |||
Cash and cash equivalents | ¥ 1,907,113 | ¥ 1,480,900 | ¥ 2,049,636 |
Investments and advances in the Financial Services segment | 398,153 | 328,358 | 360,681 |
Trade and other receivables, and contract assets | 2,158,196 | 1,770,948 | 1,621,629 |
Inventories | 1,518,644 | 1,468,042 | 874,007 |
Other financial assets | 125,365 | 110,950 | 149,301 |
Other current assets | 669,335 | 563,334 | 428,522 |
Total current assets | 6,776,806 | 5,722,532 | 5,483,776 |
Non-current assets: | |||
Investments accounted for using the equity method | 423,744 | 325,220 | 268,513 |
Investments and advances in the Financial Services segment | 18,939,794 | 18,237,761 | 18,251,612 |
Property, plant and equipment | 1,522,640 | 1,344,864 | 1,113,213 |
Right-of-use assets | 503,395 | 478,063 | 413,430 |
Goodwill | 1,487,100 | 1,275,112 | 952,895 |
Content assets | 1,928,113 | 1,561,882 | 1,342,046 |
Other intangible assets | 615,602 | 563,842 | 450,103 |
Deferred tax assets | 499,550 | 393,107 | 300,924 |
Other financial assets | 897,341 | 832,344 | 696,306 |
Other non-current assets | 513,405 | 419,368 | 379,137 |
Total non-current assets | 27,330,684 | 25,431,563 | 24,168,179 |
Total assets | 34,107,490 | 31,154,095 | 29,651,955 |
Current liabilities: | |||
Short-term borrowings | 1,812,605 | 1,914,934 | 1,976,553 |
Current portion of long-term debt | 217,711 | 187,942 | 171,409 |
Trade and other payables | 2,064,905 | 1,866,101 | 1,843,338 |
Deposits from customers in the banking business | 3,670,567 | 3,163,237 | 2,886,361 |
Income taxes payables | 152,074 | 154,543 | 105,437 |
Participation and residual liabilities in the Pictures segment | 251,743 | 230,223 | 190,162 |
Other financial liabilities | 116,044 | 108,049 | 127,079 |
Other current liabilities | 1,906,396 | 1,693,380 | 1,465,326 |
Total current liabilities | 10,192,045 | 9,318,409 | 8,765,665 |
Non-current liabilities: | |||
Long-term debt | 2,058,117 | 1,767,696 | 1,203,646 |
Defined benefit liabilities | 247,583 | 236,121 | 254,548 |
Deferred tax liabilities | 166,424 | 117,621 | 120,582 |
Insurance Contract Liabilities Non Current | 12,931,995 | 12,364,973 | 13,042,875 |
Participation and residual liabilities in the Pictures segment | 206,081 | 192,952 | 220,113 |
Other financial liabilities | 386,761 | 371,580 | 231,463 |
Other non-current liabilities | 162,379 | 127,593 | 106,481 |
Total non-current liabilities | 16,159,340 | 15,178,536 | 15,179,708 |
Total liabilities | 26,351,385 | 24,496,945 | 23,945,373 |
Sony Group Corporation's stockholders' equity: | |||
Common stock | 881,357 | 880,365 | 880,365 |
Additional paid-in capital | 1,483,410 | 1,463,807 | 1,461,053 |
Retained earnings | 6,002,407 | 5,092,442 | 4,170,417 |
Accumulated other comprehensive income | (376,063) | (614,570) | (677,989) |
Treasury stock, at cost | (403,934) | (223,507) | (180,042) |
Equity attributable to Sony Group Corporation's stockholders | 7,587,177 | 6,598,537 | 5,653,804 |
Noncontrolling interests | 168,928 | 58,613 | 52,778 |
Total equity | 7,756,105 | 6,657,150 | 5,706,582 |
Total liabilities and equity | ¥ 34,107,490 | ¥ 31,154,095 | ¥ 29,651,955 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Statement of financial position [abstract] | |||
Assets pledged that secured parties are permitted to sell or repledge amount current | ¥ 100,551 | ¥ 85,494 | ¥ 94,147 |
Assets pledged that secured parties are permitted to sell or repledge amount noncurrent | ¥ 2,380,365 | ¥ 2,427,446 | ¥ 2,700,603 |
Consolidated Statements of Inco
Consolidated Statements of Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Sales and financial services revenue: | |||
Total sales and financial services revenue | ¥ 13,020,768 | ¥ 10,974,373 | ¥ 9,921,513 |
Financial services revenue | |||
Insurance revenue | 586,115 | 554,570 | |
Costs and expenses: | |||
Cost of sales | 8,089,317 | 7,174,723 | 5,845,804 |
Selling, general and administrative | 2,156,156 | 1,969,170 | 1,588,473 |
Financial services expenses | |||
Insurance service expenses | 407,206 | 382,213 | |
Insurance finance expenses (income) | 1,029,700 | 85,399 | |
Other financial services expenses | 169,464 | 96,949 | |
Financial services expenses (before applying IFRS 17) | 1,374,037 | ||
Total financial services expenses | 1,606,370 | 564,561 | 1,374,037 |
Other operating (income) expense, net | (29,404) | (12,021) | (65,494) |
Total costs and expenses | 11,822,439 | 9,696,433 | 8,742,820 |
Share of profit (loss) of investments accounted for using the equity method | 10,502 | 24,449 | 23,646 |
Operating income | 1,208,831 | 1,302,389 | 1,202,339 |
Financial income | 125,597 | 31,058 | 19,304 |
Financial expenses | 65,766 | 58,951 | 104,140 |
Income before income taxes | 1,268,662 | 1,274,496 | 1,117,503 |
Income taxes | 288,168 | 262,723 | 229,097 |
Net income | 980,494 | 1,011,773 | 888,406 |
Net income attributable to | |||
Sony Group Corporation's stockholders | 970,573 | 1,005,277 | 882,178 |
Noncontrolling interests | ¥ 9,921 | ¥ 6,496 | ¥ 6,228 |
Net income attributable to Sony Group Corporation's stockholders | |||
— Basic | ¥ 788.29 | ¥ 813.53 | ¥ 711.84 |
— Diluted | ¥ 785.68 | ¥ 809.85 | ¥ 705.16 |
Sales of products and services [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | ¥ 11,260,037 | ¥ 10,095,841 | ¥ 8,396,702 |
Financial services revenue [member] | |||
Financial services revenue | |||
Insurance revenue | 586,115 | 554,570 | |
Other financial services revenue | 1,174,616 | 323,962 | |
Financial services revenue (before applying IFRS 17) | 1,524,811 | ||
Total financial services revenue | ¥ 1,760,731 | ¥ 878,532 | ¥ 1,524,811 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of comprehensive income [abstract] | |||
Net income | ¥ 980,494 | ¥ 1,011,773 | ¥ 888,406 |
Items that will not be reclassified to profit or loss | |||
Changes in equity instruments measured at fair value through other comprehensive income | (53,814) | (36,862) | (106,426) |
Remeasurement of defined benefit pension plans | 25,875 | 18,891 | 33,641 |
Share of other comprehensive income of investments accounted for using the equity method | 613 | 145 | 577 |
Items that may be reclassified subsequently to profit or loss | |||
Changes in debt instruments measured at fair value through other comprehensive income | (704,636) | (819,192) | (416,904) |
Cash flow hedges | 1,352 | 12,379 | 4,735 |
Insurance finance income (expenses) | 563,396 | 727,716 | 599 |
Exchange differences on translating foreign operations | 442,406 | 178,275 | 226,275 |
Share of other comprehensive income of investments accounted for using the equity method | 4,735 | 3,554 | 1,501 |
Other | (283) | (144) | |
Total other comprehensive income, net of tax | 279,644 | 84,762 | (256,002) |
Comprehensive income | 1,260,138 | 1,096,535 | 632,404 |
Comprehensive income attributable to | |||
Sony Group Corporation's stockholders | 1,247,301 | 1,087,289 | 623,678 |
Noncontrolling interests | ¥ 12,837 | ¥ 9,246 | ¥ 8,726 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - JPY (¥) ¥ in Millions | Total | Common stock [member] | Additional paid-in capital [member] | Retained earnings [member] | Accumulated other comprehensive income [member] | Treasury stock, at cost [member] | Sony Group Corporation's stockholders' equity [member] | Noncontrolling interests [member] |
Beginning Balance at Mar. 31, 2021 | ¥ 6,724,339 | ¥ 880,214 | ¥ 1,489,597 | ¥ 2,914,503 | ¥ 1,520,257 | ¥ (124,228) | ¥ 6,680,343 | ¥ 43,996 |
Comprehensive income: | ||||||||
Net income | 888,406 | 882,178 | 882,178 | 6,228 | ||||
Other comprehensive income, net of tax | (256,002) | (258,500) | (258,500) | 2,498 | ||||
Total comprehensive income | 632,404 | 882,178 | (258,500) | 623,678 | 8,726 | |||
Transfer to retained earnings | 39,425 | (39,425) | ||||||
Transactions with stockholders and other: | ||||||||
Issuance of new shares | 302 | 151 | 151 | 302 | ||||
Exercise of stock acquisition rights and other | 13,332 | 547 | 12,785 | 13,332 | ||||
Conversion of convertible bonds | 14,515 | (2,805) | (958) | 18,278 | 14,515 | |||
Stock-based compensation | 6,643 | 6,643 | 6,643 | |||||
Dividends declared | (79,340) | (74,385) | (74,385) | (4,955) | ||||
Purchase of treasury stock | (88,624) | (88,624) | (88,624) | |||||
Reissuance of treasury stock | 3,291 | 1,544 | 1,747 | 3,291 | ||||
Transactions with noncontrolling interests shareholders and other | (29,613) | (34,624) | (34,624) | 5,011 | ||||
Ending Balance (Previously stated [member]) at Mar. 31, 2022 | 7,197,249 | 880,365 | 1,461,053 | 3,760,763 | 1,222,332 | (180,042) | 7,144,471 | 52,778 |
Ending Balance (Cumulative effects of the application of new accounting standards [member]) at Mar. 31, 2022 | (1,490,667) | 409,654 | (1,900,321) | (1,490,667) | ||||
Ending Balance (Restated [Member]) at Mar. 31, 2022 | 5,706,582 | 880,365 | 1,461,053 | 4,170,417 | (677,989) | (180,042) | 5,653,804 | 52,778 |
Ending Balance at Mar. 31, 2022 | 7,197,249 | 880,365 | 1,461,053 | 3,760,763 | 1,222,332 | (180,042) | 7,144,471 | 52,778 |
Comprehensive income: | ||||||||
Net income | 1,011,773 | 1,005,277 | 1,005,277 | 6,496 | ||||
Other comprehensive income, net of tax | 84,762 | 82,012 | 82,012 | 2,750 | ||||
Total comprehensive income | 1,096,535 | 1,005,277 | 82,012 | 1,087,289 | 9,246 | |||
Transfer to retained earnings | 18,593 | (18,593) | ||||||
Transactions with stockholders and other: | ||||||||
Exercise of stock acquisition rights and other | 8,998 | (14) | (1,352) | 10,364 | 8,998 | |||
Conversion of convertible bonds | 26,547 | (2,588) | (13,858) | 42,993 | 26,547 | |||
Stock-based compensation | 11,064 | 11,064 | 11,064 | |||||
Dividends declared | (92,615) | (86,635) | (86,635) | (5,980) | ||||
Purchase of treasury stock | (99,248) | (99,248) | (99,248) | |||||
Reissuance of treasury stock | 3,668 | 1,242 | 2,426 | 3,668 | ||||
Transactions with noncontrolling interests shareholders and other | (4,381) | (6,950) | (6,950) | 2,569 | ||||
Ending Balance at Mar. 31, 2023 | 6,657,150 | 880,365 | 1,463,807 | 5,092,442 | (614,570) | (223,507) | 6,598,537 | 58,613 |
Comprehensive income: | ||||||||
Net income | 980,494 | 970,573 | 970,573 | 9,921 | ||||
Other comprehensive income, net of tax | 279,644 | 276,728 | 276,728 | 2,916 | ||||
Total comprehensive income | 1,260,138 | 970,573 | 276,728 | 1,247,301 | 12,837 | |||
Transfer to retained earnings | 38,221 | (38,221) | ||||||
Transactions with stockholders and other: | ||||||||
Exercise of stock acquisition rights and other | 18,166 | 992 | (1,939) | (144) | 19,257 | 18,166 | ||
Stock-based compensation | 13,956 | 13,956 | 13,956 | |||||
Dividends declared | (104,471) | (98,685) | (98,685) | (5,786) | ||||
Purchase of treasury stock | (202,974) | (202,974) | (202,974) | |||||
Reissuance of treasury stock | 5,076 | 1,786 | 3,290 | 5,076 | ||||
Transactions with noncontrolling interests shareholders and other | 109,064 | 5,800 | 5,800 | 103,264 | ||||
Ending Balance at Mar. 31, 2024 | ¥ 7,756,105 | ¥ 881,357 | ¥ 1,483,410 | ¥ 6,002,407 | ¥ (376,063) | ¥ (403,934) | ¥ 7,587,177 | ¥ 168,928 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - ¥ / shares | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of changes in equity [abstract] | |||
Dividends declared per share | ¥ 80 | ¥ 70 | ¥ 60 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | |||
Income before income taxes | ¥ 1,268,662 | ¥ 1,274,496 | ¥ 1,117,503 |
Adjustments to reconcile income before income taxes to net cash provided by operating activities: | |||
Depreciation and amortization, including amortization of contract costs | 1,144,981 | 1,004,590 | 835,233 |
Amortization of deferred insurance acquisition costs (before applying IFRS 17) | 69,237 | ||
Other operating (income) expense, net | (29,404) | (12,021) | (65,494) |
(Gain) loss on securities, net (other than Financial Services segment) | (73,166) | 4,469 | 60,402 |
Share of profit of investments accounted for using the equity method, net of dividends | (715) | (17,696) | (13,934) |
Change in future insurance policy benefits and other (before applying IFRS 17) | 458,880 | ||
Change in policyholders' account in the life insurance business, less cash impact (before applying IFRS 17) | 238,309 | ||
Net cash impact of policyholders' account in the life insurance business (before applying IFRS 17) | 227,262 | ||
Changes in assets and liabilities: | |||
Increase in trade receivables and contract assets | (243,646) | (70,349) | (171,094) |
(Increase) decrease in inventories | 75,641 | (560,382) | (194,624) |
Increase in investments and advances in the Financial Services segment | (1,748,913) | (1,093,792) | (1,724,164) |
Increase in content assets | (486,183) | (594,547) | (502,253) |
Increase in deferred insurance acquisition costs (before applying IFRS 17) | (117,337) | ||
Increase (decrease) in trade payables | 9,188 | (107,250) | 126,989 |
Increase in insurance contract liabilities, net of insurance contract assets | 1,370,580 | 330,654 | |
Increase in deposits from customers in the banking business | 536,688 | 300,201 | 230,236 |
Increase (decrease) in borrowings in the life insurance business and the banking business | (41,516) | 111,314 | 905,139 |
Increase (decrease) in taxes payable other than income taxes, net | (22,491) | 4,183 | 17,840 |
(Increase) decrease in other financial assets and other current assets | (31,821) | 5,932 | (17,681) |
Increase in other financial liabilities and other current liabilities | 19,562 | 130,142 | 66,407 |
Income taxes paid | (293,997) | (297,881) | (269,885) |
Other | (80,237) | (97,372) | (43,328) |
Net cash provided by operating activities | 1,373,213 | 314,691 | 1,233,643 |
Cash flows from investing activities: | |||
Payments for property, plant and equipment and other intangible assets | (623,946) | (613,635) | (441,096) |
Proceeds from sales of property, plant and equipment and other intangible assets | 11,571 | 11,595 | 11,409 |
Payments for investments and advances (other than Financial Services segment) | (95,506) | (191,129) | (91,082) |
Proceeds from sales or return of investments and collections of advances (other than Financial Services segment) | 92,679 | 13,548 | 16,081 |
Payments for purchases of businesses and other | (199,255) | (283,402) | (277,618) |
Proceeds from sales of businesses | 1,221 | 64,609 | |
Other | (4,429) | 9,138 | (11,083) |
Net cash used in investing activities | (818,886) | (1,052,664) | (728,780) |
Cash flows from financing activities: | |||
Increase (decrease) in short-term borrowings, net | (18,370) | 32,391 | 408 |
Proceeds from issuance of long-term debt | 225,176 | 361,776 | 31,458 |
Payments of long-term debt | (128,150) | (132,198) | (194,562) |
Dividends paid | (98,620) | (86,568) | (74,342) |
Payments for purchases of treasury stock | (202,974) | (99,248) | (88,624) |
Other | 12,229 | 8,147 | (10,916) |
Net cash provided by (used in) financing activities | (210,709) | 84,300 | (336,578) |
Effect of exchange rate changes on cash and cash equivalents | 82,595 | 84,937 | 94,369 |
Net increase (decrease) in cash and cash equivalents | 426,213 | (568,736) | 262,654 |
Cash and cash equivalents at beginning of the fiscal year | 1,480,900 | 2,049,636 | 1,786,982 |
Cash and cash equivalents at end of the fiscal year | ¥ 1,907,113 | ¥ 1,480,900 | ¥ 2,049,636 |
Insider Trading Policies and Pr
Insider Trading Policies and Procedures | 12 Months Ended |
Mar. 31, 2024 | |
Insider Trading Policies and Procedures [Line Items] | |
Insider Trading Policies and Procedures Adopted | true |
Reporting entity
Reporting entity | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Reporting entity | 1. Reporting entity Sony Group Corporation is a public company domiciled in Japan. Sony Group Corporation and its consolidated subsidiaries (hereinafter collectively referred to as “Sony” or “Sony Group”) 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, home gaming consoles 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 and game applications. Sony is also engaged in the production, acquisition and distribution of motion pictures and television programming and the operation of television networks and direct-to-consumer non-life |
Basis of preparation
Basis of preparation | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Basis of preparation | 2. Basis of preparation Compliance with International Financial Reporting Standards The consolidated financial statements of Sony have been prepared in accordance with IFRS ® ® ® ® Approval of consolidated financial statements The consolidated financial statements were approved by Kenichiro Yoshida, Chairman and Chief Executive Officer and Representative Corporate Executive Officer, and Hiroki Totoki, President, Chief Operating Officer and Chief Financial Officer and Representative Corporate Executive Officer, on June 25, 2024. Functional currency and presentation currency The consolidated financial statements have been presented in Japanese yen, which is the functional currency of Sony Group Corporation. All financial information presented in Japanese yen has been rounded to the nearest million Japanese yen. Use of estimates and judgments The preparation of the consolidated financial statements in accordance with IFRS Accounting Standards requires management to make judgments, estimates and assumptions that affect the application of accounting policies, the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities. Actual results could differ from these estimates and assumptions. These estimates and assumptions are reviewed on a continuous basis. Changes in these accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about judgments that have been made in the process of applying accounting policies that have significant effects on the amounts reported in the consolidated financial statements is as follows: • Classification of financial instruments (Note 3 I. Material accounting policies (5)) • Measurement of insurance contract liabilities (Note 3 I. Material accounting policies (11) and Note 13) Information about accounting estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements is as follows: • Fair value of financial instruments (Note 3 I. Material accounting policies (5) and (15) and Note 5) • Impairment of non-financial • Measurement of insurance contract liabilities (Note 3 I. Material accounting policies (11) and Note 13) • Measurement of film costs and participation and residual liabilities in the Pictures segment (Note 3 I. Material accounting policies (9) and (12), Note 11, and Note 18) • Recoverability of deferred tax assets (Note 3 I. Material accounting policies (24) and Note 25) • Measurement of fair value of assets acquired and liabilities assumed in business combinations (Note 3 I. Material accounting policies (2) and Note 30) Change in accounting policies Sony adopted the following accounting standards from the fiscal year ended March 31, 2024: IFRS 17 “Insurance Contracts” The International Accounting Standards Board (“IASB”) issued IFRS 17 “Insurance Contracts” (“IFRS 17”) in May 2017 and Amendments to IFRS 17 in June 2020 and December 2021. IFRS 17 replaces IFRS 4 “Insurance Contracts” (“IFRS 4”) and sets out principles for the recognition, measurement, presentation, and disclosure of insurance contracts within the scope of IFRS 17. IFRS 17 provides a general model, supplemented by a specific approach (the variable fee approach) for contracts with direct participation features, and a simplified approach (the premium allocation approach) mainly for short-duration contracts. IFRS 17 was effective for Sony as of April 1, 2023. In the consolidated statements of financial position, insurance-related accounts, which were primarily presented as future insurance policy benefits and other, policyholders’ account in the life insurance business, and deferred insurance acquisition costs under IFRS 4, are primarily presented as insurance contract liabilities in accordance with IFRS 17. While future insurance policy benefits under IFRS 4 were mainly measured using the assumptions determined at initial recognition, insurance contract liabilities under IFRS 17 are remeasured using the current assumptions as of each reporting date. In addition, while deferred insurance acquisition costs were recognized as an asset separately from future insurance policy benefits under IFRS 4, after applying IFRS 17, such costs are included in the measurement of insurance contract liabilities, to the extent they are within the scope of fulfillment cash flows. As a result, the effect of adopting IFRS 17 on Sony’s total equity as of April 1, 2022, the transition date for IFRS 17, was a decrease of 1,490,667 million yen, which consisted of an increase of 409,654 million yen of retained earnings and a decrease of 1,900,321 million yen of accumulated other comprehensive income, mainly due to the effect of the changes in the discount rate used in measuring insurance contract liabilities and other measurement method differences between IFRS 4 and IFRS 17. The financial services revenue, after applying IFRS 17, is separately presented as insurance revenue and other financial services revenue in the consolidated statements of income. The insurance revenue differs from insurance premium revenue under IFRS 4 mainly because the insurance revenue excludes any investment components that are deposits. Sony has retrospectively applied the changes in accounting policies resulting from the adoption of IFRS 17 unless it was impracticable. Sony applied the modified retrospective approach, which uses reasonable and supportable information, or the fair value approach, which uses the fair value as of April 1, 2022, the transition date for IFRS 17, to identify, recognize, and measure certain groups of insurance contracts as of the transition date for IFRS 17 (see Note 13), for which it was impracticable to apply the full retrospective approach. Therefore, Sony has restated the consolidated financial statements for the comparative period immediately preceding the period in which IFRS 17 was first applied and the consolidated statements of financial position as of April 1, 2022 on the basis of the retrospective application of IFRS 17. Sony has applied the transition provisions in IFRS 17 and has not disclosed the impact of the retrospective application of IFRS 17 on each financial statement line item and earnings per share. The effects of the retrospective application of IFRS 17 on Sony’s total equity as of April 1, 2022 are presented in the consolidated statements of changes in stockholders’ equity. As a result of the adoption of IFRS 17, the accounting policies for insurance contracts applied in the consolidated financial statements for the previous fiscal year have been changed. Refer to Note 3 I. Material accounting policies (11) regarding the material accounting policies for insurance contracts after the adoption of IFRS 17. Change in presentation Consolidated Statements of Cash Flows Certain reclassifications of the consolidated statements of cash flows for the fiscal years ended March 31, 2022 and 2023 have been made to conform to the presentation for the fiscal year ended March 31, 2024. |
Summary of material accounting
Summary of material accounting policies | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of material accounting policies | 3. Summary of material accounting policies I. Material accounting policies (1) Basis of consolidation - i) Subsidiaries A subsidiary is an entity controlled by Sony Group Corporation. Control is obtained when Sony Group Corporation is exposed, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements of Sony from the date on which control is obtained until the date on which control is lost. All intercompany transactions and balances are eliminated in the preparation of the consolidated financial statements. If any accounting policies applied by a subsidiary differ from those applied by Sony, adjustments are made to the financial statements of the subsidiary as necessary. Any changes in ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The difference between the amount by which the non-controlling ii) Associates and joint ventures An associate is an entity over which Sony has significant influence, but does not have control or joint control, in terms of financial and operating policies. A joint venture is an investee whereby two or more parties including Sony have the rights to the net assets of the investee in accordance with the terms of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in associates and joint ventures are accounted for using the equity method from the date on which significant influence or joint control is obtained until the date on which significant influence or joint control is lost. Under the equity method, investments in associates and joint ventures are recognized at cost, adjusted for Sony’s share of the profit or loss and other comprehensive income of the associates and joint ventures from the date on which Sony obtains significant influence or joint control to the date on which Sony loses such significant influence or joint control. Sony recognizes its share of profit or loss of the investees, net of income taxes after the elimination of unrealized intercompany profits, in the consolidated operating income (loss) to the extent of Sony’s interest in these entities. For investments accounted for using the equity method, the carrying amount of each investment is tested for impairment as a single asset, when there is objective evidence that the investments may be impaired. If any accounting policies applied by an associate or a joint venture differ from those applied by Sony, adjustments are made to the financial statements of the associate or the joint venture as necessary. When an investment ceases to be an associate or a joint venture and the use of the equity method is discontinued, any gain or loss arising from discontinuation of the equity method is recognized in profit or loss. iii) Joint operations A joint operation is a joint arrangement whereby two or more parties including Sony have the rights to the assets, and obligations for the liabilities, relating to the investee in accordance with the terms of the joint arrangement. Sony recognizes its share of the assets, liabilities, revenue and expenses related to joint operations. iv) Structured entities A structured entity is an entity designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Sony has control and, therefore, consolidates a structured entity when Sony has exposure or rights to variable returns and has the ability to use its power over the structured entity to affect returns. (2) Business combinations - Sony recognizes identifiable assets acquired and the liabilities assumed of an acquiree at their fair values at the acquisition date with limited exceptions. Sony recognizes goodwill when the aggregate of the consideration transferred in a business combination, the amount of any non-controlling Non-controlling non-controlling Acquisition-related costs are recognized as expenses in the period they are incurred. (3) Foreign currency translation - i) Foreign currency transactions Foreign currency transactions are translated at the exchange rates prevailing at the transaction date or rates that approximate such rates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate at the end of the period. Foreign exchange gains and losses resulting from translation and settlement are generally recognized in profit or loss. They are deferred in other comprehensive income if they relate to qualifying cash flow hedges. ii) Foreign operations Assets and liabilities of foreign operations such as overseas subsidiaries and associates are translated using the exchange rates at the end of the period, and revenue and expense items are translated using the average exchange rates for the period unless the exchange rates fluctuate significantly. Exchange differences arising from the translation are recognized in other comprehensive income. On the disposal of a foreign operation, the cumulative amount of exchange differences relating to that foreign operation is reclassified to profit or loss. (4) Cash and cash equivalents - 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 which are subject to an insignificant risk of changes in value. (5) Financial instruments - Sony recognizes a financial instrument as a financial asset or a financial liability when Sony becomes party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Except for financial assets and financial liabilities measured at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issuance of the financial asset or financial liability are added to the fair value of financial assets or subtracted from the fair value of financial liabilities at initial recognition. i) Non-derivative a. Classification and measurement Non-derivative Financial assets measured at amortized cost Sony classifies a financial asset as measured at amortized cost if the financial asset is held within a business model whose objective is to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The financial asset is measured at amortized cost by using the effective interest method after initial recognition. On derecognition of a financial asset measured at amortized cost, the difference between the carrying amount and the consideration received or receivable is recognized in profit or loss. Debt instruments measured at fair value through other comprehensive income A debt instrument is classified as a financial asset measured at fair value through other comprehensive income if the debt instrument is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial asset and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Changes in the fair value of the financial asset after initial recognition, except for impairment gains or losses and foreign exchange gains or losses, are recognized in other comprehensive income. Interest income from these financial assets is recognized in profit or loss using the effective interest method. On derecognition of a debt instrument measured at fair value through other comprehensive income, the cumulative amount previously recognized in other comprehensive income is reclassified to profit or loss. In the life insurance business, the financial assets are held mainly from the perspective of asset-liability management (“ALM”). The objective of holding financial assets in the life insurance business is to match the interest rate sensitivity (duration) of financial assets and insurance contract liabilities as much as possible, in order to ensure sufficient cash flows are available to settle insurance claims when they come due. Sony manages these assets as one portfolio, based on the overall objective of managing duration and liquidity needs in a capital-efficient manner. While some assets within the portfolio may be held for a longer period of time, Sony considers, because of its overall objective for these assets, that all the financial assets are held within one business model whose objective is achieved by both collecting cash flows and selling financial assets. Equity instruments measured at fair value through other comprehensive income For investments in equity instruments which are not held for trading, Sony may make an irrevocable election at initial recognition to present subsequent changes in fair value of the investments in other comprehensive income. These financial assets are measured at fair value and subsequent changes in the fair value are recognized in other comprehensive income. Dividends from financial assets are recognized in profit or loss, and the cumulative amount recognized in other comprehensive income is transferred to retained earnings upon derecognition. Financial assets measured at fair value through profit or loss Financial assets other than those measured at amortized cost or fair value through other comprehensive income are classified as financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss include financial assets held for trading. In the life insurance business, investments held for variable life insurance and individual variable annuity contracts mainly consist of equity securities, debt securities and investment funds, which are measured at fair value through profit or loss. For certain financial assets that would not normally be measured at fair value through profit or loss, Sony may, at initial recognition, choose the irrevocable option to measure such financial assets at fair value through profit or loss in order to eliminate or significantly reduce an accounting mismatch. In the life insurance business, Sony mitigates accounting mismatches by designating certain debt securities to be measured at fair value through profit or loss, consistent with insurance finance income or expenses incurred from certain variable life insurance and individual variable annuity contracts after applying IFRS 17. In the banking business, in relation to some fixed-rate debt securities, Sony utilizes derivatives to hedge the risk arising from the changes in the fair value of the debt securities due to unfavorable fluctuations of interest rates, and mitigates accounting mismatches by designating the debt securities to be measured at fair value through profit or loss. b. Derecognition Sony derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or when Sony transfers the contractual rights to receive the cash flows of the financial asset and transfers substantially all of the risks and rewards of the financial asset. c. Impairment Sony estimates expected credit losses and recognizes loss allowances for financial assets measured at amortized cost and debt instruments measured at fair value through other comprehensive income. At each reporting date, Sony measures the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If, at the reporting date, the credit risk on a financial instrument has not increased significantly since initial recognition, Sony measures the loss allowance for that financial instrument at an amount equal to 12-month Sony measures the expected credit losses of a financial asset in a way that reflects an unbiased and probability-weighted amount incorporating the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. However, for trade and other receivables, and contract assets including non-current losses irrespective of the change of credit risk on a collective basis or an individual basis incorporating factors such as the past-due Sony determines a financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. The criteria that Sony uses to determine that a financial asset is credit-impaired include a default or delinquency of more than 90 days past due in interest or principal payments. Sony writes off the gross carrying amount of a financial asset when it cannot reasonably expect to recover all or part of the asset. Debt securities and housing loans in the Financial Services segment The expected credit losses for debt securities and housing loans in the Financial Services segment are the product of the probability of default (“PD”), loss given default (“LGD”) and exposure at default (“EAD”), by leveraging the Basel III regulatory framework or based on the external information published by major credit rating agencies. Forward-looking economic information is also included in determining the PD. Assessments on significant increases in credit risk are performed at the reporting date by comparing the risk of default occurring with that at initial recognition. Sony recognizes and measures the expected credit losses on a collective basis or an individual basis using reasonable and supportable information that is available without undue cost or effort, such as asset type, credit ratings, collateral collectability, past-due In addition, Sony has applied the low credit risk exemption for certain debt securities rated “investment grade” by major credit rating agencies at the reporting date. For such instruments, Sony assumes that the credit risk has not increased significantly since initial recognition. If contractual terms of a loan have been modified, it is necessary to recalculate the gross carrying amount of that loan by using the original effective interest rate and recognize a modification gain or loss in profit or loss. ii) Non-derivative Sony classifies non-derivative Sony derecognizes a financial liability when it is extinguished, meaning when the obligation specified in the contract is discharged, cancelled or expired. iii) Derivative financial instruments and hedge accounting All derivatives are recognized as either assets or liabilities in the consolidated statements of financial position at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically through profit or loss or 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. Derivative financial instruments held by Sony are accounted for as described below. Cash flow hedges Changes in the fair value of derivatives that are designated and determined to be effective as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified to profit or loss when the hedged transaction affects profit or loss. Changes in the fair value of the ineffective portion are immediately recognized in profit or loss. Derivatives not designated as hedges Changes in the fair value of derivatives not designated as hedges are immediately recognized in profit or loss. Assessment of hedge effectiveness 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 cash flow hedges to specific assets or liabilities in the consolidated statements of financial position or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are designated as hedges have an economic relationship with the hedged item in offsetting changes in fair value or cash flows of hedged items. The effect of credit risk does not dominate the value changes that result from the underlying economic relationship. In addition, the hedge ratio of the hedging relationship is designed to be the same as that resulting from the quantity of the hedged item that Sony actually hedges and the quantity of the hedging instrument that Sony actually uses to hedge that quantity of the hedged item. When it is determined that a derivative no longer has an economic relationship with the hedged item, Sony discontinues hedge accounting. iv) Offsetting a financial asset and a financial liability Sony offsets a financial asset and a financial liability and presents the net amount in the consolidated statements of financial position when Sony currently has a legally enforceable right to set off the recognized amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. (6) Inventories - Inventories are measured at the lower of cost or net realizable value. The cost of inventories is determined on the “ ” (7) Property, plant and equipment and depreciation - Sony has adopted the cost model for the measurement of property, plant and equipment and presents an item of property, plant and equipment at its cost less any accumulated depreciation and any accumulated impairment losses. The cost of an item of property, plant and equipment includes any costs directly attributable to the acquisition of the asset as well as costs of its dismantlement, removal or restoration. Property, plant and equipment are depreciated on a straight-line basis over their useful lives (depreciation period ranging from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment). Sony reviews the residual values and the useful lives at each fiscal year-end, (8) 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 an identified asset for a period of time in exchange for consideration. Assets and liabilities recognized from leases are included in right-of-use ROU assets represent Sony’s right to use an underlying asset for the lease term and lease liabilities represent Sony’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets also include any lease payments and initial direct costs incurred on or before the commencement date and exclude lease incentives. In determining the present value of lease payments, Sony generally uses its incremental borrowing rate, as the implicit rate is not available for most of its leases. Sony determines its incremental borrowing rate based on the estimated rate of interest for collateralized borrowings, taking into account the lease term and the economic conditions of each country or region at commencement date. The lease terms may include options to extend or terminate the lease when it is reasonably certain that Sony will exercise that option. If the lease transfers ownership of the underlying asset to the lessee by the end of the lease term or the purchase option is reasonably certain to be exercised, Sony depreciates the ROU assets from the commencement date to the end of the useful life of the underlying assets. Otherwise, Sony depreciates the ROU assets from the commencement date to the earlier of the end of the useful life of the ROU assets or the end of the lease term. Sony accounts for the lease and non-lease (9) Intangible assets and amortization, including content assets - Intangible assets are measured using the cost model and stated at cost less accumulated amortization and impairment losses. Intangible assets acquired separately are initially recognized at cost. Intangible assets with finite useful lives mainly consist of patent rights, know-how, know-how, Amortization of intangible assets is included in cost of sales and selling, general and administrative expenses in the consolidated statements of income. Certain intangible assets are assessed to have indefinite lives because there is no foreseeable limit to the period over which such assets are expected to generate net cash flows for Sony. Film costs, broadcasting rights, music catalogs, artist contracts, music distribution rights and game content are collectively classified and presented as content assets in the consolidated statements of financial position. Film costs include direct production costs, production overhead, and costs for acquisition and distribution rights for both motion picture and television productions. Broadcasting rights, consisting of acquired programming to be aired on Sony’s television networks and DTC streaming services, are recognized when the license period begins and the program is available for use. Music catalogs are exclusive rights to the recorded music master or music copyrights, which consist of melodies and lyrics of songs, that can be exploited and marketed in various markets. Artist contracts are contracts with recorded music artists or songwriters that provide Sony with exclusive rights to musical works. Music distribution rights are agreements to distribute music content owned by third parties. Game content includes internally developed content, content developed through a third-party arrangement where Sony owns the rights to the content, content acquired externally through contracts with third parties, and agreements to distribute game content owned by third parties. (10) Impairment of non-financial Sony reviews the recoverability of its non-financial A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Goodwill is allocated to each CGU or group of CGUs that is expected to benefit from the synergies of a business combination. A CGU or group of CGUs to which goodwill is allocated is not larger than an operating segment. The recoverable amount of an asset, a CGU or group of CGUs is the higher of its value in use and fair value less costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax mid-range If the recoverable amount is determined to be less than the carrying amount of a CGU or group of CGUs, an impairment loss would be recognized equal to the amount by which the carrying amount exceeds the recoverable amount. Such impairment losses are recognized by first reducing the carrying amount of any allocated goodwill and then are allocated to the other assets of the CGU on a pro rata basis of the carrying amount of each asset in the CGU. Impairment losses except for content assets are included in other operating (income) expense, net, and impairment losses for content assets are included in cost of sales in the consolidated statements of income. Assets other than goodwill are reviewed to assess whether there is any indication that an impairment loss recognized in prior periods may no longer exist or may have decreased. If any such indication exists, the recoverable amount of the asset is determined and a reversal of an impairment loss is recognized when the recoverable amount of the asset exceeds the carrying amount. Any increase in the carrying amount of an asset attributable to the reversal of an impairment loss does not exceed the carrying amount of the asset, net of depreciation and amortization, which would have been determined if an impairment loss had never been recognized for the asset in prior periods. (11) Insurance contract liabilities - i) Definition and classification of insurance contracts Sony defines insurance contracts as the contracts under which Sony accepts significant insurance risk by agreeing to compensate the policyholder if a specified uncertain future event adversely affects the policyholder. In making this assessment, all substantive rights and obligations, including those arising from laws and regulations, are considered on a contract-by-contract Insurance contracts that Sony underwrites in the life insurance business, which is included in the Financial Services segment, mainly consist of whole life, term life, disease and health insurance, variable life insurance, and individual variable annuity contracts. Sony classifies certain variable life insurance and individual variable annuity contracts as insurance contracts with direct participation features, if they meet all of the following conditions on initial recognition: • the contractual terms specify that the policyholder participates in a share of a clearly identified pool of underlying items; • Sony expects to pay to the policyholder an amount equal to a substantial share of the fair value returns on the underlying items; and • Sony expects a substantial proportion of any change in the amounts to be paid to the policyholder to vary with the change in the fair value of the underlying items. All other insurance contracts are classified as insurance contracts without direct participation features. ii) Aggregation of insurance contracts In measuring insurance contracts, Sony aggregates the insurance contracts into groups. Each group of insurance contracts is determined by identifying portfolios of insurance contracts. Each portfolio is comprised of contracts that are subject to similar risks and are managed together, and Sony divides each portfolio by each quarterly accounting period (to which the issue date of the insurance contracts belongs). The portfolios are then classified into one of the following three groups based on the profitability of contracts: • any contracts that are onerous on initial recognition; • any contracts that, on initial recognition, have no significant possibility of becoming onerous subsequently; and • any remaining contracts. iii) Recognition and derecognition of insurance contracts A group of insurance contracts issued by Sony is recognized from the earliest of: • the beginning of the coverage period of the group of insurance contracts; • when the first payment from the policyholder in the group of insurance contracts becomes due; and • when facts and circumstances indicate that the group of insurance contracts is onerous. If there is no contractual due date, the due date is considered as the day when the first payment is received from the policyholder. In addition, only contracts that individually meet the recognition criteria by the end of the reporting period are included in the groups. When contracts individually meet the recognition criteria after the end of the reporting period, they are added to the groups in the reporting period in which they meet the recognition criteria. Composition of the groups is not reassessed in subsequent periods. Insurance acquisition cash flows are allocated to groups of insurance contracts using a systematic and rational method and considering, in an unbiased way, all reasonable and supportable information that is available without undue cost or effort. If insurance acquisition cash flows are directly attributable to a group of insurance contracts, they are allocated to that group. If insurance acquisition cash flows are directly attributable to a portfolio but not to a group of insurance contracts, then they are allocated to the groups in that portfolio using a systematic and rational method. Sony derecognizes an insurance contract when it is extinguished, i.e., when the obligation specified in the insurance contract expires or is discharged or canceled. When an insurance contract is derecognized, Sony: • adjusts the fulfillment cash flows allocated to the group of insurance contracts to eliminate those relating to the derecognized rights and obligations; • adjusts the contractual service margin (“CSM”) of the group of insurance contracts for the change in the fulfillment cash flows; and • adjusts the number of coverage units expected for the remaining insurance contract services to reflect the number of coverage units derecognized from the group of insurance contracts. iv) Contract boundaries In measuring groups of insurance contracts, Sony includes all of the future cash flows within the boundary of each contract in the group. Cash flows are within the contract boundary if they arise from substantive rights and obligations that exist during the reporting period in which the policyholder is obliged to pay premiums or Sony has a substantive obligation to provide services (including insurance coverage and any investment services). A substantive obligation to provide services ends when Sony: (a) has the practical ability to reassess the risks of the particular policyholder and can set a price or level of benefits that fully reflects those reassessed risks; or (b) has the practical ability to reassess the risks of the portfolio that contains the contract and can set a price or level of benefits that fully reflects the risks of that portfolio, and the pricing of the premiums up to the reassessment date does not take into account risks that relate to periods after the reassessment date. For cash flows arising during the period after the renewal of the insurance contract with automatic renewal clauses, Sony assesses the contract boundaries and determines that they are within the existing contract boundaries when Sony does not have the above practical ability to reassess the risks. v) Initial measurement of insurance contracts not measured under the premium allocation approach (“PAA”) On initial recognition, Sony measures a group of insurance contracts as the total of the following: (a) Fulfillment cash flows The fulfillment cash flows of the groups of insurance contracts consist of estimates of the future cash flows and risk adjustments for non-financial non-performance non-financial non-financial (b) CSM The CSM of a group of insurance contracts represents the unearned profit that Sony will recognize as it provides insurance contract services under those contracts. vi) Subsequent measurement of insurance contracts not measured under the PAA The carrying amount of a group of insurance contracts at each reporting date is the sum of the liability for incurred claims and the liability for remaining coverage. The liability for incurred claims comprises the fulfillment cash flows for incurred claims and expenses that have not yet been paid, including claims that have been incurred but not yet reported. The liability for remaining coverage comprises the items described below. (a) Fulfillment cash flows The fulfillment cash flows of groups of insurance contracts are measured at the reporting date using current estimates of future cash flows, discount rates, and risk adjustment for non-financial (b) CSM The carrying amount of the CSM of contracts without direct participation features at each reporting date is the carrying amount at the beginning of the fiscal year, adjusted for the following items (items (2), (3)1, (3)2, and (3)4 below are measured using the discount rate determined at initial recognition (locked-in (1) the effect of any new contracts that are added to the group during the current period; (2) the interest accreted on the carrying amount of the CSM during the current period; (3) the changes in fulfillment cash flows relating to future service including the following items: 1. experience adjustments arising from premiums received in the current period that relate to future services (including those for related cash flows such as insurance acquisition cash flows and premium-based taxes); 2. changes in estimates of the present value of future cash flows in the liability for remaining coverage (excluding the effect of the time value of money, financial risk and changes therein); 3. differences between any investment component expected to become payable in the curre |
Business segment information
Business segment information | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Business segment information | 4. Business segment information The reportable segments presented below are the segments of Sony for which separate financial information is available and for which operating income 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 Chairman and Chief Executive Officer. The G&NS segment includes the network services businesses, the manufacture and sales of home gaming products and the production and sales of digital software and add-on content. The Music segment includes the Recorded Music, Music Publishing and Visual Media and Platform businesses. The Pictures segment includes the Motion Pictures, Television Productions and Media Networks businesses. The ET&S segment includes the Televisions business, the Audio and Video business, the Still and Video Cameras business, the smartphone business and the internet-related service business. The I&SS segment includes the image sensors business. The Financial Services segment primarily represents individual life insurance and non-life Segment sales and financial services revenue: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Game & Network Services — Customers 2,674,356 3,538,533 4,172,994 Intersegment 65,407 106,065 94,740 Total 2,739,763 3,644,598 4,267,734 Music — Customers 1,100,532 1,364,815 1,594,955 Intersegment 16,417 15,817 24,003 Total 1,116,949 1,380,632 1,618,958 Pictures — Customers 1,236,399 1,364,887 1,486,717 Intersegment 2,512 4,535 6,333 Total 1,238,911 1,369,422 1,493,050 Entertainment, Technology & Services — Customers 2,297,886 2,436,739 2,414,946 Intersegment 41,300 39,286 38,772 Total 2,339,186 2,476,025 2,453,718 Imaging & Sensing Solutions — Customers 992,200 1,301,481 1,503,906 Intersegment 84,224 100,706 98,832 Total 1,076,424 1,402,187 1,602,738 Financial Services — Customers 1,524,811 878,532 1,760,731 Intersegment 9,018 10,550 9,223 Total 1,533,829 889,082 1,769,954 All Other — Customers 82,264 72,338 75,784 Intersegment 16,519 15,285 13,586 Total 98,783 87,623 89,370 Corporate and elimination (222,332 ) (275,196 ) (274,754 ) Consolidated total 9,921,513 10,974,373 13,020,768 G&NS intersegment amounts primarily consist of transactions with the ET&S segment. ET&S intersegment amounts primarily consist of transactions with the G&NS segment. I&SS intersegment amounts primarily consist of transactions with the G&NS segment and the ET&S segment. Corporate and elimination includes certain brand and patent royalty income. Segment profit (loss): Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Operating income (loss): Game & Network Services 346,089 250,006 290,184 Music 210,933 263,107 301,662 Pictures 217,393 119,255 117,702 Entertainment, Technology & Services 212,942 179,461 187,399 Imaging & Sensing Solutions 155,597 212,214 193,541 Financial Services 150,111 318,118 173,576 All Other 17,981 16,849 1,600 Total 1,311,046 1,359,010 1,265,664 Corporate and elimination (108,707 ) (56,621 ) (56,833 ) Consolidated operating income 1,202,339 1,302,389 1,208,831 Financial income 19,304 31,058 125,597 Financial expenses (104,140 ) (58,951 ) (65,766 ) Consolidated income before income taxes 1,117,503 1,274,496 1,268,662 Operating income (loss) is sales and financial services revenue less costs and expenses, and includes the share of profit (loss) of investments accounted for using the equity method. Other significant items: Yen in millions Fiscal year ended March 31 2022 2023 2024 Share of profit (loss) of investments accounted for using the equity method: Game & Network Services 14 144 922 Music 4,073 7,063 6,091 Pictures (664 ) 515 (173 ) Entertainment, Technology & Services 1,103 1,076 777 Imaging & Sensing Solutions (603 ) (1,128 ) (4,155 ) Financial Services — — (55 ) All Other 19,723 16,779 7,095 Consolidated total 23,646 24,449 10,502 Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Depreciation and amortization: Game & Network Services 61,219 87,201 123,065 Music 61,465 67,240 84,576 Pictures 396,251 506,697 541,106 Entertainment, Technology & Services 91,759 97,448 101,676 Imaging & Sensing Solutions 172,842 196,674 247,900 Financial Services 94,169 26,333 27,689 All Other 4,300 4,376 4,830 Total 882,005 985,969 1,130,842 Corporate 22,465 18,621 14,139 Consolidated total 904,470 1,004,590 1,144,981 Sales to customers by product category: The following table is a breakdown of sales and financial services revenue to external customers by product category for each segment. Sony management views each segment as a single operating segment. Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Game & Network Services Digital Software and Add-on 1,424,459 1,523,045 1,934,586 Network Services 409,355 464,676 545,537 Hardware and Others 840,542 1,550,812 1,692,871 Total 2,674,356 3,538,533 4,172,994 Music Recorded Music — Streaming 462,368 598,868 709,453 Recorded Music — Others 206,412 286,270 356,646 Music Publishing 200,334 276,665 326,727 Visual Media and Platform 231,418 203,012 202,129 Total 1,100,532 1,364,815 1,594,955 Pictures Motion Pictures 518,840 464,043 542,044 Television Productions 419,494 536,250 551,035 Media Networks 298,065 364,594 393,638 Total 1,236,399 1,364,887 1,486,717 Entertainment, Technology & Services Televisions 858,837 733,251 624,264 Audio and Video 326,704 391,608 412,067 Still and Video Cameras 414,898 565,018 643,429 Mobile Communications 365,864 356,771 299,905 Other 331,583 390,091 435,281 Total 2,297,886 2,436,739 2,414,946 Imaging & Sensing Solutions 992,200 1,301,481 1,503,906 Financial Services 1,524,811 878,532 1,760,731 All Other 82,264 72,338 75,784 Corporate 13,065 17,048 10,735 Consolidated total 9,921,513 10,974,373 13,020,768 In the G&NS segment, Digital Software and Add-on add-on Blu-ray Geographic Information: Sales and financial services revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2022, 2023 and 2024 and non-current Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Japan 2,764,321 2,126,508 3,027,526 United States 2,766,021 3,401,402 3,751,239 Europe 1,870,091 2,190,311 2,632,963 China 771,006 855,437 1,000,907 Asia-Pacific 1,149,261 1,563,414 1,659,776 Other Areas 600,813 837,301 948,357 Total 9,921,513 10,974,373 13,020,768 Yen in millions March 31 2023 2024 Non-current right-of-use Japan 1,875,354 2,036,616 United States 2,417,228 2,856,914 Europe 603,338 682,007 China 34,322 32,154 Asia-Pacific 186,359 222,398 Other Areas 107,162 226,761 Total 5,223,763 6,056,850 Major countries and areas in each geographic segment excluding Japan, United States and China are as follows: (1) Europe: United Kingdom, France, Germany, Spain and Italy (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 financial services revenue or non-current 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 or financial services revenue with any single major external customer for the fiscal years ended March 31, 2022, 2023 and 2024. |
Financial instruments
Financial instruments | 12 Months Ended |
Mar. 31, 2024 | |
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Financial instruments | 5. Financial instruments (1) Financial instruments by measurement method The carrying amount of Sony’s assets and liabilities by measurement method as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Assets: Financial assets required to be measured at amortized cost (“AC”) Investments and advances in the Financial Services segment Debt securities 337,374 396,481 Housing loans in the banking business 3,129,393 3,574,468 Other loans 17,854 16,892 Trade and other receivables * Trade receivables 1,754,034 2,140,220 Other receivables 2,712 5,971 Other financial assets Time deposit 36,671 48,416 Security deposit 95,813 107,316 Non-current 152,619 155,525 Other 19,582 47,849 Financial assets required to be measured at fair value through profit or loss (“FVPL”) Investments and advances in the Financial Services segment Debt securities 1,059,718 1,295,877 Equity securities 2,123,062 3,210,296 Other financial assets Debt securities 20,905 22,388 Equity securities 125,590 258,939 Derivative assets 70,144 72,423 Financial assets designated to be measured at FVPL Investments and advances in the Financial Services segment Debt securities 1,486,566 1,243,109 Financial assets required to be measured at fair value through other comprehensive income (“FVOCI”) Investments and advances in the Financial Services segment Debt securities 10,406,699 9,593,519 Other financial assets Debt securities 125 140 Financial assets designated to be measured at FVOCI Investments and advances in the Financial Services segment Equity securities 5,453 7,305 Other financial assets Equity securities 421,845 309,710 Total assets 21,266,159 22,506,844 Current assets 2,196,054 2,669,709 Non-current 19,070,105 19,837,135 * The amounts of trade and other receivables exclude contract assets within trade and other receivables, and contract assets in the consolidated statements of financial position. Cash and cash equivalents are excluded from the table above. Refer to Note 27. Yen in millions March 31 2023 Restated 2024 Liabilities: Financial liabilities required to be measured at AC Short-term borrowings 1,914,934 1,812,605 Current portion of long-term debt 187,942 217,711 Trade and other payables Trade payables 1,701,706 1,803,920 Other payables 162,475 221,542 Deposits from customers in the banking business *1 3,306,981 3,845,607 Long-term debt 1,767,696 2,058,117 Deferred consideration *2 87,937 107,368 Investment contract liabilities 55,779 60,392 Other financial liabilities 61,128 65,790 Financial liabilities required to be measured at FVPL Other financial liabilities Derivative liabilities 34,123 29,287 Contingent consideration 51,512 50,343 Financial liabilities designated to be measured at FVPL Other financial liabilities Redeemable noncontrolling interests 47,326 54,028 Total liabilities 9,379,539 10,326,710 Current liabilities 7,240,263 7,881,832 Non-current 2,139,276 2,444,878 *1 Deposits from customers in the banking business include the non-current *2 Deferred consideration is recorded within other financial liabilities or trade and other payables in the consolidated statements of financial position. (2) Financial instruments 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 instruments and equity instruments Where quoted prices of financial instruments are available in an active market, these instruments are classified in Level 1 of the fair value hierarchy. Level 1 financial instruments include exchange-traded equity instruments. If quoted market prices are not available for the specific financial instruments or the market is inactive, then fair values are estimated by using pricing models, quoted prices of financial instruments with similar characteristics or discounted cash flow method and mainly classified in Level 2 of the fair value hierarchy. Level 2 financial instruments include debt instruments with quoted prices that are not traded as actively as 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, these instruments are classified within Level 3 of the fair value hierarchy. Level 3 financial instruments primarily include certain private equity investments, investment funds, securitized products which are not classified within Level 1 or Level 2 and domestic and foreign corporate bonds for which quoted prices are not available in a market and where there is less transparency around inputs. Sony estimates the fair value for private equity investments primarily by using comparable company analysis and discounted cash flow method. The price book-value ratio and price earnings ratio of comparable companies, as well as cost of capital and EBITDA multiples for the terminal value used in discounted cash flow method, are primarily used as significant unobservable inputs in the fair value measurement of equity securities classified as Level 3. The fair value increases (decreases) as the price book-value ratio and price earnings ratio of comparable companies rise (decline). In addition, the fair value increases (decreases), as the cost of capital declines (rises) and EBITDA multiples rise (decline), both of which are used in discounted cash flow method. Sony estimates the fair value for certain investment funds by using the net asset value. Sony estimates the fair value for securitized products and domestic and foreign corporate bonds for which quoted prices are not available in a market and where there is less transparency around inputs by using third-party information such as indicative quotes from dealers without adjustment or discounted cash flow method. For validating the fair values of Level 3 financial instruments, Sony primarily uses internal models which include management judgment or estimation of assumptions that market participants would use in pricing the asset. 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, meaning parameters that are actively quoted and can be validated to external sources, including 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. For derivative products that 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 valuation models employing market observable inputs, such as spot currency rates and time value. These derivatives are classified within Level 2 since Sony primarily uses observable inputs in its valuation of its derivative assets and liabilities. The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and 2024 is as follows: Yen in millions March 31, 2023 Restated Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Investments and advances in the Financial Services segment (Current) Other financial assets (Current) Investments and advances in the Financial Services segment (Non-current) Other financial assets (Non-current) Assets: Financial assets required to be measured at FVPL Debt securities Japanese national government bonds — 422,739 — 422,739 — — 422,739 — Japanese local government bonds — 600 — 600 — — 600 — Japanese corporate bonds — 16,872 38 16,910 — — 16,872 38 Foreign government bonds 30,100 173,393 — 203,493 — — 203,493 — Foreign corporate bonds — 5,515 3,377 8,892 — — 5,515 3,377 Investment funds — 367,193 60,796 427,989 — — 410,499 17,490 Equity securities 2,236,646 5,217 6,789 2,248,652 — — 2,123,062 125,590 Derivative assets Interest rate contracts — 43,844 — 43,844 — 438 — 43,406 Foreign exchange contracts — 21,318 — 21,318 — 19,978 — 1,340 Equity contracts 290 — 4,692 4,982 — 4,982 — — Financial assets designated to be measured at FVPL Debt securities Japanese national government bonds — 1,285,920 — 1,285,920 1,001 — 1,284,919 — Japanese local government bonds — 16,038 — 16,038 2,010 — 14,028 — Japanese corporate bonds — 3,315 — 3,315 — — 3,315 — Foreign government bonds — 35,895 — 35,895 — — 35,895 — Foreign corporate bonds — 141,857 3,541 145,398 21,227 — 124,171 — Financial assets required to be measured at FVOCI Debt securities Japanese national government bonds — 7,901,817 — 7,901,817 — — 7,901,817 — Japanese local government bonds — 45,458 — 45,458 1,369 — 44,089 — Japanese corporate bonds — 739,541 171,622 911,163 7,016 — 904,147 — Foreign government bonds — 1,145,709 — 1,145,709 — — 1,145,584 125 Foreign corporate bonds — 307,717 24,672 332,389 46,367 — 286,022 — Securitized products — 29,697 40,591 70,288 — — 70,288 — Financial assets designated to be measured at FVOCI Equity securities 103,270 — 324,028 427,298 — — 5,453 421,845 Total assets 2,370,306 12,709,655 640,146 15,720,107 78,990 25,398 15,002,508 613,211 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Other financial liabilities (Current) Other financial liabilities (Non-current) Liabilities: Financial liabilities required to be measured at FVPL Derivative liabilities Interest rate contracts — 5,656 — 5,656 427 5,229 Foreign exchange contracts — 19,876 — 19,876 18,679 1,197 Equity contracts 3,321 5,270 — 8,591 8,591 — Contingent consideration — — 51,512 51,512 14,790 36,722 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests — — 47,326 47,326 — 47,326 Total liabilities 3,321 30,802 98,838 132,961 42,487 90,474 Yen in millions March 31, 2024 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Investments and advances in the Financial Services segment (Current) Other financial assets (Current) Investments and advances in the Financial Services segment (Non-current) Other financial assets (Non-current) Assets: Financial assets required to be measured at FVPL Debt securities Japanese national government bonds — 423,129 — 423,129 — — 423,129 — Japanese local government bonds — 1,846 — 1,846 — — 1,846 — Japanese corporate bonds — 27,296 20 27,316 — — 27,296 20 Foreign government bonds 39,363 192,325 — 231,688 — — 231,688 — Foreign corporate bonds — 11,981 2,933 14,914 — — 11,981 2,933 Investment funds — 552,017 67,355 619,372 — — 599,937 19,435 Equity securities 3,451,655 8,146 9,434 3,469,235 — — 3,210,296 258,939 Derivative assets Interest rate contracts — 49,619 — 49,619 — 1,009 — 48,610 Foreign exchange contracts — 20,425 — 20,425 — 18,774 — 1,651 Equity contracts — — 2,379 2,379 — 2,379 — — Financial assets designated to be measured at FVPL Debt securities Japanese national government bonds — 1,021,309 — 1,021,309 4,302 — 1,017,007 — Japanese local government bonds — 13,945 — 13,945 5,310 — 8,635 — Japanese corporate bonds — 3,302 — 3,302 3,302 — — — Foreign government bonds — 39,472 — 39,472 7,390 — 32,082 — Foreign corporate bonds — 159,158 5,923 165,081 49,578 — 115,503 — Financial assets required to be measured at FVOCI Debt securities Japanese national government bonds — 7,057,395 — 7,057,395 300 — 7,057,095 — Japanese local government bonds — 48,712 — 48,712 550 — 48,162 — Japanese corporate bonds — 743,804 138,848 882,652 11,414 — 871,238 — Foreign government bonds — 1,221,208 — 1,221,208 — — 1,221,068 140 Foreign corporate bonds — 266,362 34,757 301,119 28,363 — 272,756 — Securitized products — 60,565 22,008 82,573 — — 82,573 — Financial assets designated to be measured at FVOCI Equity securities 67,834 — 249,181 317,015 — — 7,305 309,710 Total assets 3,558,852 11,922,016 532,838 16,013,706 110,509 22,162 15,239,597 641,438 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Other financial liabilities (Current) Other financial liabilities (Non-current) Liabilities: Financial liabilities required to be measured at FVPL Derivative liabilities Interest rate contracts — 6,450 — 6,450 406 6,044 Foreign exchange contracts — 17,493 — 17,493 16,297 1,196 Equity contracts 3,428 1,916 — 5,344 5,344 — Contingent consideration — — 50,343 50,343 26,193 24,150 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests — — 54,028 54,028 — 54,028 Total liabilities 3,428 25,859 104,371 133,658 48,240 85,418 Cash and cash equivalents are excluded from the tables above. Refer to Note 27. Transfers of debt securities from Level 2 to Level 1 were 2,704 million yen and 2,384 million yen for the fiscal years ended March 31, 2023 and 2024, respectively, as quoted prices in active markets for certain debt securities became available. Transfers of debt securities from Level 1 to Level 2 were 1,982 million yen and 847 million yen for the fiscal years ended March 31, 2023 and 2024, respectively, as quoted prices in active markets for certain debt securities became unavailable. Transfers of equity securities from Level 2 to Level 1 were 24,958 million yen for the fiscal year ended March 31, 2023, as quoted prices in active markets for certain equity securities became available. There were no transfers of equity securities from Level 2 to Level 1 for the fiscal year ended March 31, 2024. The valuation techniques used to measure the fair value of assets and liabilities classified as Level 3, significant unobservable inputs, and their range are as follows: Valuation technique(s) Significant unobservable inputs Range March 31, 2023 March 31, 2024 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds Discounted cash Credit spread 34bp-63bp 27bp-72bp Foreign corporate bonds 10bp — Securitized products 150bp-190bp 90bp-170bp * bp = basis point The decrease (increase) in fair value is the result of rise (decline) of credit spreads. For the above assets classified as Level 3, the fair value would not change significantly, if one or more of the significant unobservable inputs were changed to reflect reasonably possible alternative assumptions. The changes in fair value of Level 3 assets and liabilities for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31, 2023 Total gains (losses) *1 Beginning balance Net income *2 Other comprehensive income *3 Purchases Sales and settlements Transfers Level 3 *4 Transfers out of Level 3 *5 Other Ending balance Assets: Financial assets required to be measured at FVPL Debt securities Japanese corporate bonds 18 — — 20 — — — — 38 Foreign corporate bonds 117 (14 ) — 3,434 (70 ) — — (90 ) 3,377 Securitized products 3,713 — — — (3,713 ) — — — — Investment funds 48,520 (2,541 ) 395 17,254 (2,832 ) — — — 60,796 Equity securities 3,217 (413 ) — 4,021 (36) — — — 6,789 Derivative assets Equity contracts 4,024 (393 ) 356 705 — — — — 4,692 Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds 3,625 (84 ) — — — — — — 3,541 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 154,245 6 (30,203 ) 47,574 — — — — 171,622 Foreign corporate bonds 20,837 598 — 24,362 (21,125 ) — — — 24,672 Securitized products 39,859 (389 ) 6 13,575 (15,048 ) 6,712 (4,124 ) — 40,591 Financial assets designated to be measured at FVOCI Equity securities 205,509 — (24,913 ) 143,611 (126 ) 146 (600 ) 401 324,028 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration 21,552 (475 ) 1,240 43,455 (13,951 ) — — (309 ) 51,512 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 34,995 (1,410 ) 2,877 13,670 (2,802 ) — — (4 ) 47,326 Yen in millions Fiscal year ended March 31, 2024 Total gains (losses) *1 Beginning balance Net income *2 Other comprehensive income *3 Purchases Sales and settlements Transfers Level 3 Transfers out of Level 3 *5 Other Ending balance Assets: Financial assets required to be measured at FVPL Debt securities Japanese corporate bonds 38 — — 20 (18 ) — — (20 ) 20 Foreign corporate bonds 3,377 171 — 317 — — — (932 ) 2,933 Investment funds 60,796 3,781 736 8,677 (6,635 ) — — — 67,355 Equity securities 6,789 595 1 1,951 (152 ) — — 250 9,434 Derivative assets Equity contracts 4,692 (2,816 ) 503 — — — — — 2,379 Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds 3,541 642 — 1,740 — — — — 5,923 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 171,622 8 (32,782 ) — — — — — 138,848 Foreign corporate bonds 24,672 1,315 255 29,150 (19,148 ) — (1,487 ) — 34,757 Securitized products 40,591 1,434 35 12,793 (24,437 ) — (8,408 ) — 22,008 Financial assets designated to be measured at FVOCI Equity securities 324,028 — (6,987 ) 6,342 (73,874 ) — (1,175 ) 847 249,181 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration 51,512 182 6,614 4,363 (12,328 ) — — — 50,343 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 47,326 (3,396 ) 5,345 5,294 (541 ) — — — 54,028 *1 For liability items, gains are presented as negative and losses are presented as positive. *2 Gains (losses) recognized in net income are included in financial services revenue, other operating (income) expense, net, financial income and financial expenses in the consolidated statements of income. *3 Gains (losses) recognized in other comprehensive income are included in changes in equity instruments measured at fair value through other comprehensive income, changes in debt instruments measured at fair value through other comprehensive income and exchange differences on translating foreign operations in the consolidated statements of comprehensive income. *4 Certain financial assets were transferred to Level 3 because the observability of the inputs used decreased. *5 Certain financial assets were transferred from Level 3 because observable market data became available. The changes in unrealized gains (losses) recognized in net income for Level 3 assets and liabilities held as of March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Assets: Financial assets required to be measured at FVPL Debt securities Foreign corporate bonds (14 ) 171 Investment funds (2,420 ) 3,887 Equity securities (413 ) 495 Derivative assets Equity contracts (393 ) (2,816 ) Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds (84 ) 646 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 6 8 Foreign corporate bonds 598 1,315 Securitized products (389 ) 1,461 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration (2,683 ) (1,488 ) Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 1,410 3,270 Gains (losses) recognized in net income are included in financial services revenue, other operating (income) expense, net, financial income and financial expenses in the consolidated statements of income. Sony generally elects to designate investments in equity instruments held to promote its businesses and to maintain and enhance the business relationship as financial assets measured at fair value through other comprehensive income based on the purposes of holding the investments. Equity instruments measured at fair value through other comprehensive income as of March 31, 2023 and 2024 comprise the following: Yen in millions March 31 2023 2024 Marketable equity instruments 103,270 67,834 Non-marketable 324,028 249,181 Total 427,298 317,015 Significant marketable equity instruments measured at fair value through other comprehensive income as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Bilibili Inc. 54,214 29,410 ANYCOLOR Inc. 10,061 8,568 KADOKAWA Corporation 8,017 7,545 Toei Animation Co., Ltd. 10,407 — The balances of the non-marketable Yen in millions March 31 2023 2024 Entertainment *1 259,214 187,294 Manufacturing *2 35,182 34,610 Information technology, Communication and Service *3 27,136 24,348 *1 Major investments included Epic Games, Inc. and Scopely, Inc. as of March 31, 2023. Major investments included Epic Games, Inc. as of March 31, 2024. *2 Major investments included Nichia Corporation. *3 Major investments included Semiconductor Energy Laboratory Co., Ltd. In order to enhance the efficiency of using assets held effectively, Sony derecognizes equity instruments measured at fair value through other comprehensive income upon the sale of the investment. Information relating to investments derecognized during the fiscal years ended March 31, 2023 and 2024 is as follows: Yen in millions Fiscal year ended March 31 2023 2024 Fair value at derecognition 625 86,265 Cumulative amount recognized in other comprehensive income, net of tax * (298 ) 12,326 Dividend received 8 122 * The cumulative amount recognized in other comprehensive income, net of tax, was transferred to retained earnings upon derecognition of the equity instruments. (3) Financial instruments measured at amortized cost The fair values by fair value hierarchy level of certain financial instruments that are measured at amortized cost as of March 31, 2023 and 2024 are summarized as follows: Yen in millions March 31, 2023 Restated Fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Debt securities Foreign corporate bonds — 4,814 — 4,814 4,796 Securitized products — — 324,153 324,153 331,354 Other — 41 1,173 1,214 1,224 Housing loans in the banking business — — 3,184,060 3,184,060 3,129,393 Total assets — 4,855 3,509,386 3,514,241 3,466,767 Liabilities: Long-term debt including the current portion — 1,343,077 67,844 1,410,921 1,423,392 Investment contract liabilities — 55,523 — 55,523 55,779 Total liabilities — 1,398,600 67,844 1,466,444 1,479,171 Yen in millions March 31, 2024 Fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Debt securities Japanese corporate bonds — 9,957 — 9,957 9,950 Foreign corporate bonds — 3,413 — 3,413 3,386 Securitized products — — 378,389 378,389 378,736 Other — 41 4,368 4,409 4,409 Housing loans in the banking business — — 3,634,011 3,634,011 3,574,468 Total assets — 13,411 4,016,768 4,030,179 3,970,949 Liabilities: Long-term debt including the current portion — 1,606,340 78,935 1,685,275 1,704,102 Investment contract liabilities — 59,578 — 59,578 60,392 Total liabilities — 1,665,918 78,935 1,744,853 1,764,494 The table above does not include financial instruments measured at amortized cost whose carrying amounts approximate their fair values mainly due to their short-term nature. The fair values of long-term debt, including the current portion classified as Level 2, were estimated mainly based on discounted future cash flows using Sony’s current rates for similar liabilities. The fair values of investment contract liabilities classified as Level 2 were determined by using the present value of expected cash flows based on risk-free interest rate yield curves adjusted for items such as credit risk. Financial instruments classified as Level 3 mainly include housing loans in the banking business, securitized products and certain bonds issued by Sony. In determining the fair value of such financial instruments, Sony uses the present value of expected cash flows based on risk-free interest rate yield curves adjusted for items such as credit risk. (4) Income and expenses related to financial instruments in the Financial Services segment Income and expenses related to financial instruments in the Financial Services segment are recorded in other financial services revenue and other financial services expenses in the consolidated statements of income. Income and expenses related to financial instruments in all segments other than Financial Services segment are recorded in financial income and financial expenses in the consolidated statements of income. Refer to Note 24 for the details of financial income and financial expenses. The breakdown of income and expenses related to financial instruments in the Financial Services segment for the fiscal years ended March 31, 2022, 2023 and 2024 is as follows: Yen in millions March 31, 2022 Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 225,922 (6,673 ) 14,765 (49,110 ) 148,813 — 333,717 Total interest income — — 32,839 — 180,006 — 212,845 Dividend income — — — — — 85 85 Expenses Total interest expenses — — — 3,838 — — 3,838 Impairment losses (gains) on financial assets — — 19 — 24 — 43 Yen in millions March 31, 2023 Restated Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 56,150 (109,480 ) 14,242 (58,484 ) 141,189 — 43,617 Total interest income — — 38,787 — 184,519 — 223,306 Dividend income — — — — — 195 195 Expenses Total interest expenses — — — 29,867 — — 29,867 Impairment losses (gains) on financial assets — — 144 — 8 — 152 Yen in millions March 31, 2024 Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 857,653 (120,317 ) 5,279 (105,974 ) 257,902 — 894,543 Total interest income — — 52,060 — 191,209 — 243,269 Dividend income — — — — — 459 459 Expenses Total interest expenses — — — 72,488 — — 72,488 Impairment losses (gains) on financial assets — — (42 ) — (3 ) — (45 ) * Income includes investment returns which occurred in the insurance business. Refer to Note 13. |
Financial risk management
Financial risk management | 12 Months Ended |
Mar. 31, 2024 | |
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Financial risk management | 6. Financial risk management (1) Capital risk Sony uses Return on Equity (“ROE”) as an indicator for capital risk management. March 31 2023 Restated 2024 ROE* 16.4 % 13.7 % * ROE is calculated using equity attributable to Sony Group Corporation’s stockholders. Sony manages capital separately for the Financial Services segment and the Sony Group without the Financial Services segment because certain subsidiaries in the Financial Services segment are subject to the below restrictions. Sony also refers to the ratio of stockholders’ equity to total assets of the Sony Group without the Financial Services segment to ensure financial soundness. In the Financial Services segment, Sony is required to maintain the soundness indicators at a certain level or higher based on the Insurance Business Act and the Banking Act of Insurance business: Maintain solvency margin ratio The life insurance subsidiary and the non-life required by the Japanese domestic criteria. Banking business: Maintain capital adequacy ratio The banking subsidiary has maintained a capital adequacy ratio required by Accordingly, lending and borrowing between subsidiaries in the Financial Services segment and the other companies within Sony Group is strictly limited. The carrying amounts of total assets of Sony Financial Group Inc. (“SFGI”) as of March 31, 2023 and 2024 are 19,912,827 million yen and 20,877,128 million yen, respectively. The carrying amounts of total liabilities of SFGI as of March 31, 2023 and 2024 are 18,728,102 million yen and 19,763,959 million yen, respectively. The amounts as of March 31, 2023 have been restated in accordance with IFRS 17. (2) Interest rate risk For interest rate risk inherent in the insurance business, which is included in the Financial Services segment, refer to Note 13. For interest rate risk inherent in the banking business, which is included in the Financial Services segment, refer to (7) Market risks for the banking business. Risk management policy and exposure Interest rate risk is the risk the fair value of a financial instrument or future cash flows of the financial instrument will fluctuate because of changes in market interest rates. Sony without the Financial Services segment is exposed to interest rate risk that is mainly related to its liabilities such as short-term borrowings and long-term debt as well as bonds. The amount of interest will be affected by changes in market interest rates; therefore, Sony is exposed to the interest rate risk that the future cash outflows for interest payments will fluctuate. Sony raises funds by issuing fixed-rate bonds in order to avoid an increase in future interest payments that is mainly resulting from an increase in interest rates. Also, Sony utilizes interest rate swap agreements to reduce funding costs, to diversify sources of funding, and to hedge the downside risk on borrowings and debt securities resulting from unfavorable fluctuations of interest rates and currency exchange rates, and from changes in the fair value of financial instruments. Therefore, the interest rate risk associated with cash flows of Sony without the Financial Services segment is not significant. (3) Price risk For price risk inherent in the insurance business, which is included in the Financial Services segment, refer to Note 13. For price risk inherent in the banking business, which is included in the Financial Services segment, refer to (7) Market risks for the banking business. Risk management policy and exposure Sony is exposed to securities price risk inherent in holding of equities in other entities in Japan and overseas countries. Sony periodically assesses fair values of equity instruments and the financial conditions of the issuers of such equity instruments, and reviews its portfolio on a regular basis. Price sensitivity analysis The table below shows the effects on income before income taxes and other comprehensive income (before considering the tax effects) as of March 31, 2023 and 2024 if market prices of marketable equity instruments (e.g., stocks) had decreased by 10%. Yen in millions March 31 2023 2024 Income before income taxes (11,734 ) (24,621 ) Other comprehensive income (before considering the tax effects) (9,800 ) (6,116 ) (4) Liquidity risk For liquidity risk inherent in the insurance business, which is included in the Financial Services segment, refer to Note 13. This section does not include information regarding the insurance business other than maturity analysis for financial liabilities. Risk management policy The description below covers basic financial policy and figures for Sony’s consolidated operations except for the Financial Services segment and certain subsidiaries, which secure liquidity on their own. Furthermore, the banking business in the Financial Services segment is described separately at the end of this section. Liquidity Management and Market Access An important financial objective of Sony is to maintain the strength of its financial condition, while securing adequate liquidity for business activities. Sony defines its liquidity sources as the amount of cash and cash equivalents (“cash balance”) (excluding restrictions on capital transfers mainly due to national regulations) and the unused amount of committed lines of credit. Funding requirements that arise from maintaining liquidity are principally covered by cash flow from operating and investing activities (including asset sales) and by the available cash balance; however, Sony also raises funds as needed from financial and capital markets through means such as corporate bonds, commercial paper (“CP”) and bank loans. Sony Group Corporation, Sony Global Treasury Services Plc (“SGTS”), a finance subsidiary in the U.K. and Sony Capital Corporation (“SCC”), a finance subsidiary in the U.S., maintain CP programs with access to the Japanese, U.S. and European CP markets. The borrowing limits under these CP programs, translated into yen, were 1,257.1 billion yen in total for Sony Group Corporation, SGTS and SCC as of March 31, 2024. There were no amounts outstanding under the CP programs as of March 31, 2024. If disruption and volatility occur in financial and capital markets and Sony becomes unable to raise sufficient funds from these sources, Sony may also draw down funds from contractually committed lines of credit from various financial institutions. Sony has a total, translated into yen, of 766.4 billion yen in unused committed lines of credit, as of March 31, 2024. Details of those committed lines of credit are: a 350.0 billion yen committed line of credit contracted with a syndicate of Japanese banks, a 1.7 billion U.S. dollar multi-currency committed line of credit also contracted with a syndicate of Japanese banks and a 1.05 billion U.S. dollar multi-currency committed line of credit contracted with a syndicate of foreign banks. Sony currently believes that it can sustain sufficient liquidity through access to committed lines of credit with financial institutions, together with its available cash balance, even in the event that financial and capital markets become illiquid. Sony considers one of management’s top priorities to be the maintenance of stable and appropriate credit ratings in order to ensure financial flexibility for liquidity and capital management and continued adequate access to sufficient funding resources in the financial and capital markets. However, in the event of a downgrade in Sony’s credit ratings, there are no financial covenants in any of Sony’s material financial agreements with financial institutions that would cause an acceleration of the obligation. Even though the cost of borrowing for some committed lines of credit could change according to Sony’s credit ratings, there are no financial covenants that would cause any impairment on the ability to draw down on unused facilities. Cash Management Sony manages its global cash management activities primarily through Sony Group Corporation in Japan, SCC in the U.S. and SGTS in other regions. The excess or shortage of cash at most of Sony’s subsidiaries is invested or funded by Sony Group Corporation, SGTS and SCC on a net basis, although Sony recognizes that fund transfers are limited in certain countries and geographic areas due to restrictions on capital transactions. In order to pursue more efficient cash management, cash surpluses among Sony’s subsidiaries are deposited with Sony Group Corporation, SGTS and SCC, and cash shortfalls among subsidiaries are covered by loans through Sony Group Corporation, SGTS and SCC, so that Sony can make use of excess cash balances and reduce third-party borrowings. Where local restrictions prevent an efficient intercompany transfer of funds, Sony’s intent is that cash balances remain outside of Sony Group Corporation, SGTS and SCC and that Sony meets its liquidity needs through ongoing cash flows, external borrowings, or both. Sony does not expect restrictions of capital transactions on amounts held outside of Japan to have a material effect on Sony’s overall liquidity, financial condition or results of operations. Banking business in the Financial Services segment In the banking business in the Financial Services segment, by formulating and conforming with liquidity risk management policies, Sony manages its liquidity risks. Sony defines liquidity risk as cash flow risk and market liquidity risk. Cash flow risk is the risk associated with losses due to Sony’s inability to make cash payments because of a failure to maintain sufficient cash reserves at settlement, as well as risks associated with losses if Sony is forced to raise funds under unfavorable conditions in order to fulfill cash payment obligations. The levels of cash flow risks are classified into phases based on the degree of pressure, and methods of risk management and reporting are set out for each phase, while guidelines are formulated and reviewed as necessary. Market liquidity risk is the risk associated with losses due to Sony’s inability to conduct market transactions, in particular due to an inability to unwind its market position at a given time, or due to Sony being forced to complete transactions under unfavorable market conditions, due to market turmoil or other factors. To manage market liquidity risk, Sony works to understand market liquidity conditions that pertain to the types of products it handles. Sony formulates and revises guidelines on a product-by-product Maturity analysis The following table summarizes Sony’s financial liabilities as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Deposits from customers in the banking business *1 3,306,981 3,316,556 3,171,377 30,215 14,933 1,060 2,410 96,561 Bonds 349,332 354,169 26,039 40,986 110,862 35,591 80,416 60,275 Borrowings 2,988,994 3,025,480 1,998,315 70,690 147,447 270,268 62,571 476,189 Loan commitments — 35,831 35,831 — — — — — Derivative liabilities *2 34,123 33,766 28,886 623 1,041 912 918 1,386 Guarantee deposits received 40,568 40,568 31,085 272 19 58 13 9,121 Redeemable noncontrolling interests 47,326 48,616 — 24,844 10,397 4,572 198 8,605 Yen in millions March 31, 2023 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years Lease liabilities 532,246 593,967 90,244 80,476 68,143 55,189 47,665 5 years to 6 years 6 years to 7 years 7 years to 8 years 8 years to 9 years 9 years to 10 years 10+ years 56,603 37,539 34,588 25,798 18,384 79,338 *1 Demand deposits are included in the “Within 1 year” category. *2 Breakdown of net settlements and gross settlements in the derivative liabilities are presented below. Yen in millions March 31, 2023 Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Derivative contracts —Net settled Paid 32,881 27,820 769 1,076 912 918 1,386 Derivative contracts —Gross settled Received 29,092 25,894 156 3,042 — — — Paid 29,977 26,960 10 3,007 — — — Yen in millions March 31, 2024 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Deposits from customers in the banking business *1 3,845,607 3,870,349 3,687,051 22,043 11,422 2,728 3,069 144,036 Bonds 544,078 554,986 42,236 112,112 126,786 101,302 80,974 91,576 Borrowings 2,972,629 3,013,803 1,909,097 84,525 259,511 231,829 156,945 371,896 Loan commitments — 50,965 50,965 — — — — — Derivative liabilities *2 29,287 29,557 23,465 1,179 1,178 1,145 953 1,637 Guarantee deposits received 44,864 44,864 31,479 135 9 24 10 13,207 Redeemable noncontrolling interests 54,028 54,389 — 14,794 25,740 99 5,292 8,464 Yen in millions March 31, 2024 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years Lease liabilities 571,726 671,899 106,505 96,090 85,917 68,624 57,850 5 years to 6 years 6 years to 7 years 7 years to 8 years 8 years to 9 years 9 years to 10 years 10+ years 51,240 47,630 37,279 29,390 21,954 69,420 *1 Demand deposits are included in the “Within 1 year” category. *2 Breakdown of net settlements and gross settlements in the derivative liabilities are presented below. Yen in millions March 31, 2024 Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Derivative contracts —Net settled Paid 28,220 22,128 1,179 1,178 1,145 953 1,637 Derivative contracts —Gross settled Received 49,187 49,187 — — — — — Paid 50,524 50,524 — — — — — (5) Foreign exchange risk For foreign exchange risk inherent in the insurance business, which is included in the Financial Services segment, refer to Note 13. For foreign exchange risk inherent in the banking business, which is included in the Financial Services segment, refer to (7) Market risks for the banking business. Risk management policy and exposure Costs and prices of products and services in transactions denominated in foreign currencies are affected by currency exchange rate fluctuation, which may have adverse impacts on Sony’s business, operating results, and financial condition. Sony seeks to reduce its exposure to foreign exchange risk mainly by using derivatives such as currency forward contracts or investing in securities denominated in the same currency. The net amount of Sony’s exposure to foreign exchange risk mainly includes the following. Foreign exchange risk exposures that are mitigated by the use of derivatives are excluded. Yen in millions March 31 2023 2024 U.S. dollar 45,316 81,000 Euro 1,459 282 * Net exposures resulting in a liability are presented as negative and net exposures resulting in an asset are presented as positive. Sensitivity analysis The table below shows the effects on the income before income taxes regarding the financial instruments denominated in foreign currencies held by Sony as of March 31, 2023 and 2024 if the Japanese yen had strengthened by 10% against the U.S. dollar or euro. If the Japanese yen had weakened by 10% against the U.S. dollar or euro, there would be an opposite impact on income before income taxes in the same amount. This analysis was performed based on the assumption that all other variables stay the same. Yen in millions March 31 2023 2024 U.S. dollar (4,532 ) (8,100 ) Euro (146 ) (28 ) (6) Credit risk Risk management policy and exposure Sony is exposed to credit risk in relation to its customers with outstanding trade receivables and the financial institutions who are the counterparties of derivative instruments that Sony holds to hedge the foreign exchange risk related to such trade receivables. In order to manage risks inherent in trade receivables, Sony assesses management conditions and creditworthiness of prospective customers and sets credit limits before commencement of business in accordance with Sony’s internal rules regarding credit management. After commencement of business, in accordance with Sony’s internal rules regarding receivable management, Sony seeks to promptly identify and mitigate the risk of uncollectible receivables due to deterioration in the financial conditions of customers by managing payment due dates and outstanding balances by customer, consistently reviewing the status of transactions, payment history, and trends in the outstanding balance of customers, and actively monitoring their management and business conditions. Sony makes judgments about the creditworthiness of customers based on past collection experience, the current conditions, forecasts of future economic conditions and ongoing credit risk evaluations when calculating the loss allowances for the expected credit losses from trade receivables. In addition, the credit risk inherent in derivative transactions is considered low since Sony enters into derivative transactions only with financial institutions with high creditworthiness or central clearing house counterparties, and such derivative transactions are collateralized. The Financial Services segment formulates Fundamental Principles for Risk Management and manages risks depending on its subsidiaries’ size, characteristics and business. Risk Management Guidelines in the Financial Services segment establish a detailed framework for risk management, and each of the subsidiaries in the Financial Services segment has developed a framework for risk management on its own depending on the characteristics of financial assets, including issuer credit risk on debt securities, counterparty risks and risks related to loans to individuals, including credit screenings, credit limits, the management of credit information, credit ratings, the setting of guarantees or collateral and the handling of problem assets on a case-by-case Risk exposure analysis (a) Changes in the loss allowances Trade and other receivables, and contract assets including non-current Yen in millions Lifetime expected credit losses Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year 31,341 27,534 Changes due to financial assets recognized at beginning of the fiscal year: — Financial assets that have been derecognized (4,568 ) (2,018 ) New financial assets originated or purchased 6,401 9,464 Write-offs (6,647 ) (5,990 ) Changes in models/risk parameters (1,409 ) 643 Foreign exchange and other movements 2,416 3,433 Balance at end of the fiscal year 27,534 33,066 Debt Securities Yen in millions 12-month Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year 53 61 Changes due to financial assets recognized at beginning of the fiscal year: — Financial assets that have been derecognized (4 ) (10 ) New financial assets originated or purchased 13 8 Changes in models/risk parameters (1 ) (1 ) Foreign exchange and other movements — — Balance at end of the fiscal year 61 58 * For all debt securities, Sony considers that the credit risk has not increased significantly since initial recognition, and therefore the loss allowance is measured at an amount equal to 12-months Substantially all of the loss allowances for debt securities are for debt securities measured at fair value through other comprehensive income as of March 31, 2023 and 2024. Loans Yen in millions 12-month Lifetime Total Balance as of April 1, 2022 164 927 1,091 Changes due to financial assets recognized as of April 1, 2022: — Transfer to lifetime expected credit losses (1 ) 1 — — Transfer to 12-month 80 (80 ) — — Financial assets that have been derecognized (6 ) (285 ) (291 ) New financial assets originated or purchased 51 20 71 Changes in models/risk parameters 25 241 266 Foreign exchange and other movements — — — Balance as of March 31, 2023 313 824 1,137 Changes due to financial assets recognized as of March 31, 2023: — Transfer to lifetime expected credit losses (1 ) 1 — — Transfer to 12-month 106 (106 ) — — Financial assets that have been derecognized (24 ) (227 ) (251 ) New financial assets originated or purchased 45 823 869 Changes in models/risk parameters (162 ) 187 24 Foreign exchange and other movements — — — Balance as of March 31, 2024 277 1,502 1,779 Loans that are credit-impaired as of March 31, 2023 and 2024 were not significant. (b) Description of collateral held as security and other credit enhancements Sony assesses creditworthiness of each customer on an individual project basis. When it is determined to extend credit to a customer, the amount of collateral to be obtained will be based on the credit assessment for the customer by management. Collateral held as security includes, but is not limited to the following: • Floating charges on all assets and businesses of the customer • Specific or related guarantees • Debt guarantees from customers and loan agreements with favorable and unfavorable covenant terms The carrying amount of the financial assets, without taking into account any collateral held or credit enhancements, represents Sony’s maximum exposure to credit risk on these assets. For maximum exposure to credit risk of securities to which impairment requirements in IFRS 9 “Financial Instrument” (“IFRS 9”) are not applied without taking into account any collateral held or other credit enhancements, refer to Note 5. In the Financial Services segment, housing loans have sufficient collateral, which results in no significant loss allowance being recognized. In addition, certain securities received as collateral for short-term lending transactions are permitted to be sold or repledged. The fair value of the securities which were not sold or repledged as collateral was 4,691 million yen as of March 31, 2023 and ne as of March 31, 2024. None of the securities were sold or repledged as collateral as of March 31, 2023 or 2024. The securities are not recognized in the consolidated statements of financial position until being sold or repledged as collateral. (c) Credit risk exposure by risk rating grades Credit risk exposure by risk rating grades as of March 31, 2023 and 2024, is as follows: Trade and other receivables, and contract assets including non-current Yen in millions March 31 2023 2024 Outstanding receivables by overview period of overdue (Gross carrying amount) Not past due or due within 30 days 1,849,112 2,224,058 Due over 30 to 90 days 46,332 47,942 Due over 90 days 63,519 75,740 Total 1,958,963 2,347,740 Debt securities Debt securities held in the Financial Services segment are substantially all composed of investment grade debt securities, and, as a financial instrument subject to IFRS 9 impairment requirements, 12-month The following table shows an analysis of the gross carrying amount for debt securities measured at amortized cost or at fair value through other comprehensive income based on a credit rating system in the Financial Services segment, which is primarily a composite of external credit ratings as of March 31, 2023 and 2024. Yen in millions March 31 2023 Restated 2024 Debt securities by credit ratings (Gross carrying amount) AAA 536,009 659,016 AA 2,807,684 3,122,639 A 7,328,136 7,111,836 BBB 9,625 15,668 Other 6,434 3,004 Total 10,687,888 10,912,163 Loans Loans held in the banking business in the Financial Services segment are regularly reassessed by the credit ratings of debtors, and as a financial instrument subject to IFRS 9 impairment requirements, 12-month The following table shows an analysis of the gross carrying amount for loans measured at amortized cost based on credit ratings by debtors in the banking business in the Financial Services segment as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Normal* Other than Normal Total 12-month expected losses Lifetime expected losses Sub total 12-month expected losses Lifetime expected losses Sub total Loans Housing loans 3,124,410 140 3,124,550 2,173 3,350 5,523 3,130,073 Other 16,852 242 17,094 4 74 78 17,172 Total 3,141,262 382 3,141,644 2,177 3,424 5,601 3,147,245 Yen in millions March 31, 2024 Normal* Other than Normal Total 12-month expected losses Lifetime expected losses Sub total 12-month expected losses Lifetime expected losses Sub total Loans Housing loans 3,570,142 247 3,570,389 1,998 2,706 4,704 3,575,093 Other 15,755 378 16,133 5 96 101 16,234 Total 3,585,897 625 3,586,522 2,003 2,802 4,805 3,591,327 * Normal is defined as borrowers who have strong results and no particular problems with their financial position. (d) Credit risk for debt securities designated to be measured at fair value through profit or loss The credit risk exposures for debt securities designated to be measured at fair value through profit or loss were 1,486,566 million yen, and 1,243,109 million yen as of March 31, 2023 and 2024, respectively. The changes in the fair value attributable to the changes in credit risk were an increase of 509 million yen for the fiscal year ended March 31, 2023 and a decrease of 969 million yen for the fiscal year ended March 31, 2024. The cumulative changes were an increase of 2,535 million yen and 1,566 million yen as of March 31, 2023 and 2024, respectively. The amounts as of March 31, 2023 have been restated in accordance with IFRS 17. (7) Market risks for the banking business In the banking business, by formulating and conforming with market risk management policies, Sony manages the risk of loss for when the value of assets and liabilities (including off-balance-sheet (time period: 250 days, confidence level: %) and is used for quantitative analysis in managing interest and exchange rate fluctuation risks. The total market risk volume as of March 31, 2023 and 2024 was million yen and million yen, respectively. VaR is based on the assumption that risk parameters other than interest rates and exchange rates are fixed. In the event that fluctuations exceed the rational forecast band for interest and exchange rates, the risk impact may exceed the amount calculated. The aforementioned market risk management is carried out primarily by the risk management division. The division periodically reports risk management conditions to the banking subsidiary’s Board of Directors and Executive Committee. In addition, the banking subsidiary’s internal audit division conducts audits of the risk management conditions (8) Effect of IBOR reform Due to the reform and replacement of benchmark interest rates such as the London Interbank Offered Rate (“LIBOR”), the use of other interbank offered rates (“IBORs”) has become a priority for global regulators. The use of LIBOR ceased as of December 31, 2021, except for the use of certain U.S. dollar (“USD”) LIBORs. USD LIBOR was abolished and lost its representativeness as of June 2023. As mentioned above, the JPY and GBP IBORs were abolished on December 31, 2021 and replaced by alternative interest rates such as the Tokyo Overnight Average Rate and the Sterling Overnight Index Average. USD LIBOR was abolished on June 30, 2023 and replaced by the Secured Overnight Financing Rate (SOFR). For contracts that used USD LIBOR as of March 31, 2023, Sony has completed the amendment of agreements for the transition to alternative interest rate benchmarks as of March 31, 2024. |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2024 | |
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Inventories | 7. Inventories Inventories are comprised of the following: Yen in millions March 31 2023 2024 Finished products 1,028,614 1,028,359 Work in process 244,140 314,020 Raw materials, purchased components and supplies 195,288 176,265 Inventories 1,468,042 1,518,644 For the fiscal years ended March 31, 2022, 2023 and 2024 the write-downs of inventories were 80,546 million yen, 110,901 million yen and 117,633 million yen, respectively. For the fiscal years ended March 31, 2022, 2023 and 2024 the amounts of inventories expensed and included in cost of sales were 2,495,769 million yen, 3,317,553 million yen, and 3,635,969 million yen, respectively. Included within these amounts for the fiscal years ended March 31, 2022, 2023 and 2024 were employee benefits expenses of 282,765 million yen, 238,133 million yen and 307,041 million yen, respectively, and depreciation and amortization expenses of 201,860 million yen, 189,230 million yen and 287,798 million yen, respectively. Other cost of sales mainly consists of material costs, subcontractor costs and other professional service fees. |
Investments in associates and j
Investments in associates and joint ventures | 12 Months Ended |
Mar. 31, 2024 | |
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Investments in associates and joint ventures | 8. Investments in associates and joint ventures There are no associates or joint ventures that are individually material to Sony. The carrying amounts of investments in associates and joint ventures that are not individually material to Sony, as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Investments accounted for using the equity method Associates 279,640 363,611 Joint ventures 45,580 60,133 Total 325,220 423,744 Sony’s share of comprehensive income, profit or loss and other comprehensive income, of associates and joint ventures that are not individually material to Sony for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Share of profit or loss Associates 21,920 22,637 19,727 Joint ventures 1,726 1,812 (9,225 ) Total 23,646 24,449 10,502 Share of other comprehensive income Associates 2,077 3,659 5,311 Joint ventures 1 40 37 Total 2,078 3,699 5,348 Share of comprehensive income Associates 23,997 26,296 25,038 Joint ventures 1,727 1,852 (9,188 ) Total 25,724 28,148 15,850 On January 31, 2024, Sony Bank Inc. (“Sony Bank”), a wholly-owned subsidiary of Sony, transferred a portion of its shares of Sony Payment Services Inc. (“Sony Payment Services”), which was a consolidated subsidiary of Sony Bank, to a special purpose company established by private equity funds which are managed by Blackstone Inc. and its affiliates. Upon the transfer, Sony Payment Services became an affiliate of Sony accounted for using the equity method and Sony has recorded a total of million yen in other operating (income) expense, net for the fiscal year ended March 31, 2024, reflecting both a realized gain on the shares transferred and a remeasurement gain based on the fair value of the shares Sony will continue to hold after the transfer. The amounts of assets and liabilities of Sony Payment Services that were derecognized as a result of the transfer were not material. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Mar. 31, 2024 | |
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Property, plant and equipment | 9. Property, plant and equipment The changes in property, plant and equipment for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Land Buildings Machinery Construction Total Balance as of April 1, 2022: Cost 78,160 832,785 1,953,985 145,940 3,010,870 Accumulated depreciation and impairment losses (37 ) (515,313 ) (1,381,020 ) (1,287 ) (1,897,657 ) Carrying amount 78,123 317,472 572,965 144,653 1,113,213 Changes in carrying amount: Additions 700 17,369 112,351 364,450 494,870 Acquisitions through business combinations — 168 2,480 5,939 8,587 Reclassifications 75 75,608 232,218 (314,742 ) (6,841 ) Disposals or classified as held for sale *1 (876 ) (1,610 ) (2,793 ) (644 ) (5,923 ) Depreciation *2 — (33,682 ) (234,530 ) — (268,212 ) Impairment losses — (317 ) (570 ) (52 ) (939 ) Translation adjustment 1,232 8,931 5,315 531 16,009 Other — (4,636 ) (1,264 ) — (5,900 ) Total changes 1,131 61,831 113,207 55,482 231,651 Balance as of March 31, 2023: Cost 79,291 921,156 2,202,010 201,299 3,403,756 Accumulated depreciation and impairment losses (37 ) (541,853 ) (1,515,838 ) (1,164 ) (2,058,892 ) Carrying amount 79,254 379,303 686,172 200,135 1,344,864 Changes in carrying amount: Additions 6,068 14,886 100,199 374,735 495,888 Acquisitions through business combinations — 912 472 12 1,396 Reclassifications 616 76,731 314,967 (394,995 ) (2,681 ) Disposals or classified as held for sale *1 (2,077 ) (2,361 ) (3,416 ) (1,414 ) (9,268 ) Depreciation *2 — (39,781 ) (281,807 ) — (321,588 ) Impairment losses — (76 ) (258 ) (11 ) (345 ) Translation adjustment 2,085 15,913 7,366 5,729 31,093 Other — (1,744 ) (15,032 ) 57 (16,719 ) Total changes 6,692 64,480 122,491 (15,887 ) 177,776 Balance as of March 31, 2024: Cost 85,983 1,033,758 2,551,174 185,287 3,856,202 Accumulated depreciation and impairment losses (37 ) (589,975 ) (1,742,511 ) (1,039 ) (2,333,562 ) Carrying amount 85,946 443,783 808,663 184,248 1,522,640 *1 An asset or disposal group for which the cash flows are expected to arise principally from sale rather than continuing use is classified to current asset as an asset held for sale. *2 Depreciation expenses are allocated to the cost of inventory and are recognized in cost of sales as inventory is sold, or are directly recognized in selling, general and administrative expenses and research and development expenditures in the consolidated statements of income, depending on the use of the asset. |
Leases
Leases | 12 Months Ended |
Mar. 31, 2024 | |
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Leases | 10. Leases Sony leases communication and commercial equipment, plant, office space, warehouses, employees’ residential facilities and other assets. (1) Right-of-use The changes in ROU assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Land Buildings Machinery and Total Balance as of April 1, 2022: Carrying amount 17,800 375,268 20,362 413,430 Changes in the carrying amount Increase due to new lease agreements and remeasurement of lease liabilities 1,533 90,395 36,604 128,532 Decrease due to termination of lease agreements and remeasurement of lease liabilities (3,323 ) (10,654 ) (214 ) (14,191 ) Depreciation (1,171 ) (77,368 ) (7,808 ) (86,347 ) Other 399 35,422 818 36,639 Total changes (2,562 ) 37,795 29,400 64,633 Balance as of March 31, 2023: Carrying amount 15,238 413,063 49,762 478,063 Changes in the carrying amount Increase due to new lease agreements and remeasurement of lease liabilities 177 73,038 25,179 98,394 Decrease due to termination of lease agreements and remeasurement of lease liabilities (74 ) (10,396 ) (467 ) (10,937 ) Depreciation (1,169 ) (82,576 ) (11,097 ) (94,842 ) Other 643 31,379 695 32,717 Total changes (423 ) 11,445 14,310 25,332 Balance as of March 31, 2024: Carrying amount 14,815 424,508 64,072 503,395 (2) Income, expenses, and cash flows (except for depreciation) arising from lease contracts as a lessee and lessor are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest expenses on lease liabilities 8,223 10,382 12,833 Expenses related to short-term leases accounted for applying an exemption 19,764 36,807 20,798 Income from subleases (2,256 ) (1,784 ) (1,589 ) Net cash outflows for leases 83,546 89,681 100,438 Refer to Note 6 for the maturity analysis of Sony’s financial liabilities including lease liabilities. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Mar. 31, 2024 | |
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Goodwill and intangible assets | 11. Goodwill and intangible assets (1) Goodwill The changes in goodwill for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year Cost 1,312,615 1,649,041 Accumulated impairments (359,720 ) (373,929 ) Carrying amount 952,895 1,275,112 Increase (decrease) due to: Acquisitions * 274,499 70,791 Disposals or classified as held for sale (445 ) (14,491 ) Impairments — — Translation adjustments 48,163 155,688 Total changes 322,217 211,988 Balance at end of the fiscal year Cost 1,649,041 1,884,627 Accumulated impairments (373,929 ) (397,527 ) Carrying amount 1,275,112 1,487,100 * Refer to Note 30 for the details of the acquisitions. The carrying amounts of goodwill by segment as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Game & Network Services *1 407,121 465,647 Music *2 579,969 710,888 Pictures *3 259,055 279,949 Entertainment, Technology & Services 14,654 15,829 Imaging & Sensing Solutions 3,479 3,953 Financial Services 10,834 10,834 All Other — — Total 1,275,112 1,487,100 *1 Game & Network Services All of the goodwill shown in the G&NS line of the table above is allocated to a group of CGUs which comprise the entire G&NS segment. Intangible assets with indefinite useful lives related to the G&NS business have carrying amounts of 57,409 million yen and 57,438 million yen, as of March 31, 2023 and 2024, respectively, which are included in “Other intangible assets.” Intangible assets with indefinite useful lives include the trademark for PlayStation ® ® The recoverable amount of the group of CGUs is determined by the value in use. The value in use is calculated by discounting the estimated future cash flows including a terminal value. The estimated future cash flows are prepared based on the MRP. A terminal value after the final year of the total forecasted period is determined by utilizing a perpetual growth rate. The growth rate and the pre-tax *2 Music Goodwill shown in the Music line of the table above is primarily allocated to the worldwide recorded music and the worldwide music publishing CGUs excluding operations in Japan. Goodwill related to the worldwide recorded music CGU has carrying amounts of 255,834 million yen and 342,653 million yen, as of March 31, 2023 and 2024, respectively. The recoverable amount of the CGU is determined by the value in use. The value in use is calculated by discounting the estimated future cash flows including a terminal value. The estimated future cash flows are prepared based on the MRP. A terminal value after the final year of the total forecasted period is determined by utilizing a perpetual growth rate. The growth rate and the pre-tax Goodwill related to the music publishing CGU has carrying amounts of 290,833 million yen and 330,240 million yen, as of March 31, 2023 and 2024, respectively. The recoverable amount of the CGU is determined by the value in use. The value in use is calculated by discounting the estimated future cash flows including a terminal value. The estimated future cash flows are prepared based on the MRP. A terminal value after the final year of the total forecasted period is determined by utilizing a perpetual growth rate. The growth rate and the pre-tax *3 Pictures Goodwill shown in the Pictures line of the table above is primarily allocated to the animation distribution CGU. Goodwill related to the animation distribution CGU has carrying amounts of 124,265 million yen and 141,155 million yen, as of March 31, 2023 and 2024, respectively. The recoverable amount of the CGU is determined by the value in use. The value in use is calculated by discounting the estimated future cash flows including a terminal value. The estimated future cash flows are prepared based on the MRP, with revenues in years beyond the MRP based on declining growth rates. A terminal value is based on a revenue multiple applied to the final year of the total forecasted period. The growth rates beyond the MRP period were 5.0% to 15.0% and 5.0% to 12.0%, and the pre-tax rates were % and % as of March , and , respectively. The value in use calculation uses key assumptions such as the pre-tax pre-tax (2) Content assets The changes in content assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Film costs Broadcasting rights Music catalogs Artist contracts Music distribution rights Game content Content assets Total Balance as of April 1, 2022: Cost 3,549,934 395,045 914,418 30,278 43,219 46,086 4,978,980 Accumulated amortization and impairment losses (3,096,457 ) (293,827 ) (209,628 ) (15,035 ) (9,158 ) (12,829 ) (3,636,934 ) Carrying amount 453,477 101,218 704,790 15,243 34,061 33,257 1,342,046 Changes in carrying amount: Additions *1 526,273 83,491 27,839 942 35 10,725 649,305 Acquisitions through business combinations 419 7 607 — 1,171 46,079 48,283 Disposals or classified as held for sale (38,899 ) — — — — (7 ) (38,906 ) Amortization (381,753 ) (76,824 ) (31,686 ) (1,285 ) (2,755 ) (15,820 ) (510,123 ) Impairment losses (13,815 ) — (236 ) — — (152 ) (14,203 ) Translation adjustment 27,228 4,665 50,980 1,086 937 294 85,190 Other — — — — — 290 290 Total changes 119,453 11,339 47,504 743 (612 ) 41,409 219,836 Balance as of March 31, 2023: Cost 4,320,022 419,025 1,008,942 32,484 45,988 97,386 5,923,847 Accumulated amortization and impairment losses (3,747,092 ) (306,468 ) (256,648 ) (16,498 ) (12,539 ) (22,720 ) (4,361,965 ) Carrying amount 572,930 112,557 752,294 15,986 33,449 74,666 1,561,882 Changes in carrying amount: Additions *1 329,104 97,028 20,842 3,061 146 83,757 533,938 Acquisitions through business combinations and other *2 — — 229,884 15,075 2,627 — 247,586 Disposals or classified as held for sale (35,927 ) (7,371 ) — (224 ) — (227 ) (43,749 ) Amortization (397,855 ) (93,240 ) (43,779 ) (1,394 ) (3,146 ) (31,594 ) (571,008 ) Impairment losses (13,454 ) (883 ) — (16 ) — (1,064 ) (15,417 ) Translation adjustment 76,678 16,150 106,777 3,168 2,045 10,063 214,881 Total changes (41,454 ) 11,684 313,724 19,670 1,672 60,935 366,231 Balance as of March 31, 2024: Cost 5,216,247 528,970 1,401,970 54,131 52,498 170,058 7,423,874 Accumulated amortization and impairment losses (4,684,771 ) (404,729 ) (335,952 ) (18,475 ) (17,377 ) (34,457 ) (5,495,761 ) Carrying amount 531,476 124,241 1,066,018 35,656 35,121 135,601 1,928,113 * 1 The additions in Film costs include the cost of films internally produced and acquired from third party projects. Film costs acquired from third party projects are not a significant portion of Film costs recorded by Sony. The additions in Broadcasting rights, Music catalogs, Artist contracts and Music distribution rights mainly represent acquisitions through contracts with third parties. The additions in Game content primarily include internally developed game content for the fiscal year ended March 31, 2023 and include approximately equal amounts of internally developed game content and externally acquired game content for the fiscal year ended March 31, 2024. *2 Refer to Notes 27 (7) and 30 (3). (3) Other intangible assets The changes in other intangible assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Patent rights, know-how and license agreements Customer Trademarks Software Television carriage contracts Other Total Balance as of April 1, 2022 Cost 213,649 58,427 32,683 952,153 61,939 155,479 1,474,330 Accumulated amortization and impairment losses (193,982 ) (37,342 ) (8,053 ) (678,177 ) (33,881 ) (72,792 ) (1,024,227 ) Carrying amount 19,667 21,085 24,630 273,976 28,058 82,687 450,103 Changes in carrying amount: Additions 6,432 — 17 117,019 — 3,323 126,791 Acquisitions through business combinations 2,056 9,237 16,655 26,298 — 38,394 92,640 Internal development — — — 19,835 — — 19,835 Disposals or classified as held for sale (8 ) (112 ) (14 ) (2,907 ) — (129 ) (3,170 ) Amortization (8,152 ) (9,437 ) (4,290 ) (94,821 ) (3,954 ) (14,566 ) (135,220 ) Impairment losses (8 ) (93 ) — (342 ) — (66 ) (509 ) Translation adjustment 156 1,483 1,516 3,715 2,176 613 9,659 Other (1,121 ) 158 699 4,299 — (322 ) 3,713 Total changes (645 ) 1,236 14,583 73,096 (1,778 ) 27,247 113,739 Balance as of March 31, 2023: Cost 201,243 66,593 51,747 1,045,743 66,583 199,311 1,631,220 Accumulated amortization and impairment losses (182,221 ) (44,272 ) (12,534 ) (698,671 ) (40,303 ) (89,377 ) (1,067,378 ) Carrying amount 19,022 22,321 39,213 347,072 26,280 109,934 563,842 Changes in carrying amount: Additions 8,854 — 20 145,515 — 6,038 160,427 Acquisitions through business combinations 371 2,003 1,887 13 — 123 4,397 Internal development — — — 20,096 — — 20,096 Disposals or classified as held for sale (16 ) (1,697 ) (616 ) (5,576 ) (33 ) (244 ) (8,182 ) Amortization (8,838 ) (10,166 ) (5,874 ) (110,296 ) (4,129 ) (14,587 ) (153,890 ) Impairment losses (16 ) — — (8 ) — (571 ) (595 ) Translation adjustment 444 2,472 5,094 10,981 3,329 4,963 27,283 Other 97 — (104 ) 2,193 — 38 2,224 Total changes 896 (7,388 ) 407 62,918 (833 ) (4,240 ) 51,760 Balance as of March 31, 2024: Cost 212,000 70,560 59,377 1,196,266 75,716 211,848 1,825,767 Accumulated amortization and impairment losses (192,082 ) (55,627 ) (19,757 ) (786,276 ) (50,269 ) (106,154 ) (1,210,165 ) Carrying amount 19,918 14,933 39,620 409,990 25,447 105,694 615,602 |
Impairment of non-financial ass
Impairment of non-financial assets | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |
Impairment of non-financial assets | 12. Impairment of non-financial There were no material impairment losses for the fiscal years ended March 31, 2022, 2023 and 2024. |
Insurance contracts in the fina
Insurance contracts in the financial services segment | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure Of Insurance Contracts [Abstract] | |
Insurance contracts in the financial services segment | 13. Insurance contracts in the Financial Services segment (1) Significant judgments and estimates for insurance contracts i) Measurement methods and inputs for insurance contracts The methods and main inputs used to measure insurance contracts are as follows: Weighted average (%) March 31 2023 2024 Mortality rates 1.03 % 1.02 % Lapse and surrender rates 3.15 % 3.57 % Sony estimates the mortality and morbidity rates based on the historical and most recent actual outcomes and analyzes the historical experience and trends in data using statistical methods. When estimating the mortality and morbidity rates for each group of insurance contracts, Sony takes into account the characteristics of policyholders including gender, health conditions and smoking habits and the characteristics of the group of insurance contracts such as the selective effects over time. The estimates are revised in a timely manner to reflect changes in lifestyle, as well as changes in social conditions such as improvement of mortality and morbidity rates in the future. Sony estimates the lapse and surrender rates based on the historical and most recent actual outcomes and determines the probability-weighted lapse and surrender rates for each group of insurance contracts by analyzing historical experience and trends in data using statistical methods. Lapse and surrender rates are estimated, taking into account both ordinary and dynamic lapses, and reflect the tendency to higher surrender rates when the yield on contracts increases or exceeds the guaranteed minimum for certain insurance contracts. In determining the lapse and surrender rates, historical actual data is considered. If there is no or little historical actual data, the actual results of similar products as well as domestic and overseas practical trends are used as reference. Sony projects estimates of future expenses based on the current expense levels. The expenses comprise expenses directly attributable to the group of insurance contracts, including the allocation of fixed and variable overhead expenses. In addition, Sony applies inflation adjustments to the estimated expenses in future. ii) Discretionary participation features of future cash flows For certain participating insurance contracts other than direct participating contracts, the effect of discretionary changes on the fulfillment cash flows is adjusted in the CSM. Although Sony has discretionary participation features related to the investment policy for these contracts, the investment policy is established based on the market conditions. Therefore, the effect of changes in assumptions that relate to financial risk on the investment policy is included in insurance finance income or expenses. In addition, since the dividend policy can be changed at Sony’s discretion, the effect of changes in the dividend policy on the fulfillment cash flows is adjusted in the CSM. iii) Risk adjustments for non-financial Risk adjustments for non-financial non-financial non-financial The risk adjustments for non-financial non-financial cost-of-capital capital is determined by estimating the probability distribution of the present value of future cash flows from insurance contracts at each future reporting date and calculating the capital that Sony would require to meet its contractual obligations to pay claims and expenses at a 99.5% confidence level for one year. The cost-of-capital non-financial The weighted average cost-of-capital rates of Sony for the fiscal years ended March 31, 2023 and 2024 w ere % and %, respectively. In addition, the risk adjustments determined by applying a cost of capital technique for the fiscal years ended March 31, 2023 and 2024 correspond to the confidence levels of 86.0% and 84.1% (time horizon: the life of the insurance contracts), respectively. iv) Discount rates All cash flows are discounted using risk-free yield curves adjusted to reflect the characteristics of the cash flows and the liquidity of the insurance contracts. Sony determines the risk-free yield curves using the yields on government bonds. The yield curve is determined by incorporating long-term real interest rate and inflation expectations. Regarding extrapolation for the periods in which market data is not available, a method using an ultimate forward rate is applied. Specifically, Sony uses an ultimate forward rate of 3.5% and starts extrapolation in the 40th year (or the 30th year for U.S. dollar). The forward rates for the 41st year (or the 31st year for U.S. dollar) and onwards are extrapolated so that they will converge to the level of the ultimate forward rate in 30 years, using the Smith-Wilson method. To reflect the liquidity characteristics of the insurance contracts, the risk-free yield curves are adjusted by an illiquidity premium. Illiquidity premiums are determined by setting up a reference portfolio of Sony’s assets. The table below sets out the yield curves used to discount the cash flows of insurance contracts for major currencies (converted at the spot rate). Yield curve (%) March 31 2023 2024 Term JPY USD JPY USD 1 year (0.10 %) 4.73 % 0.06 % 5.11 % 5 years 0.11 % 3.65 % 0.38 % 4.25 % 10 years 0.40 % 3.54 % 0.77 % 4.25 % 20 years 1.10 % 4.00 % 1.58 % 4.63 % 30 years 1.36 % 3.71 % 1.95 % 4.37 % 40 years 1.50 % 3.54 % 2.14 % 4.07 % v) Investment components Sony identifies the investment component of an insurance contract by determining the amount that it is required to repay to the policyholder in all circumstances, regardless of whether an insured event occurs or not. These include circumstances in which an insured event occurs, or the contract matures or is terminated without an insured event occurring. Investment components are excluded from insurance revenue and insurance service expenses. vi) Determination of coverage units The amount of the CSM of a group of insurance contracts that is recognized as insurance revenue in each period is determined by identifying the coverage units in the group and recognizing in profit or loss the amount of the CSM allocated to the coverage units provided during the current period. The number of coverage units is determined by considering for each contract the quantity of benefits provided and its expected coverage period. Specifically, Sony determines the quantity of benefits based on: • the death benefit amount in the case of contracts for which the death benefit amount increases or decreases based on the period (e.g., whole life, term life and variable life insurance contracts); • the premium amount proportionate to the insurance period in the case of contracts whose host contract and riders have different coverage types (e.g., disease and health insurance contracts); and • the cash surrender value (or the premium reserve during the annuity payment period) in the case of annuity contracts with investment-related services (e.g., individual variable annuity contracts). Sony considers the characteristics of insurance contracts and aggregates the quantities of benefits related to insurance coverage, investment-return services and investment-related services when determining the relative weighting of the benefits provided to the policyholder by these services. vii) Claim development Given that the actual amounts of claims do not materially differ from the undiscounted amounts of the claims previously estimated, information about claim development has not been disclosed for the fiscal year ended March 31, 2024. (2) Reconciliation of insurance contract liabilities The tables below show the changes in insurance contract liabilities for the fiscal years ended March 31, 2023 and 2024. (a) Changes in liabilities for remaining coverage and liabilities for incurred claims Yen in millions Liability for remaining coverage Liability for *4 Total Excluding loss Loss Balance as of April 1, 2022 Insurance contract assets *1 (84,000 ) — 28,670 (55,330 ) Insurance contract liabilities *2*3 13,004,073 53,820 126,778 13,184,671 Net amounts 12,920,073 53,820 155,448 13,129,341 Insurance revenue (554,570 ) — — (554,570 ) Insurance service expenses Incurred claims and other insurance service expenses — (3,493 ) 272,243 268,750 Amortization of insurance acquisition cash flows 113,433 — — 113,433 Changes in liabilities for incurred claims — — 632 632 Losses and reversals of losses on onerous contracts — (602 ) — (602 ) Total insurance service expenses 113,433 (4,095 ) 272,875 382,213 Insurance service result (441,137 ) (4,095 ) 272,875 (172,357 ) Insurance finance expenses (income) (927,674 ) 2,048 308 (925,318 ) Total amounts recognized in comprehensive income (1,368,811 ) (2,047 ) 273,183 (1,097,675 ) Investment component excluded from insurance revenue and insurance service (776,575 ) — 776,575 — Cash flows Premiums received 1,609,362 — — 1,609,362 Insurance acquisition cash flows (145,272 ) — — (145,272 ) Claims and other insurance service expenses paid — — (1,045,529 ) (1,045,529 ) Total cash flows 1,464,090 — (1,045,529 ) 418,561 Other (322 ) 67 (693 ) (948 ) Balance as of March 31, 2023 Insurance contract assets *1 (93,283 ) — 32,532 (60,751 ) Insurance contract liabilities *2*3 12,331,738 51,840 126,452 12,510,030 Net amounts 12,238,455 51,840 158,984 12,449,279 Insurance revenue (586,115 ) — — (586,115 ) Insurance service expenses Incurred claims and other insurance service expenses — (3,721 ) 276,809 273,088 Amortization of insurance acquisition cash flows 124,518 — — 124,518 Changes in liabilities for incurred claims — — 5,008 5,008 Losses and reversals of losses on onerous contracts — 4,592 — 4,592 Total insurance service expenses 124,518 871 281,817 407,206 Insurance service result (461,597 ) 871 281,817 (178,909 ) Insurance finance expenses (income) 244,793 2,663 (251 ) 247,205 Total amounts recognized in comprehensive income (216,804 ) 3,534 281,566 68,296 Investment component excluded from insurance revenue and insurance service (944,520 ) — 944,520 — Cash flows Premiums received 1,886,124 — — 1,886,124 Insurance acquisition cash flows (153,410 ) — — (153,410 ) Claims and other insurance service expenses paid — — (1,212,518 ) (1,212,518 ) Total cash flows 1,732,714 — (1,212,518 ) 520,196 Other (199 ) (41 ) (167 ) (407 ) Balance as of March 31, 2024 Insurance contract assets *1 (90,377 ) — 33,402 (56,975 ) Insurance contract liabilities *2*3 12,900,023 55,333 138,983 13,094,339 Net amounts 12,809,646 55,333 172,385 13,037,364 *1 Insurance contract assets are included in other current assets or other non-current *2 The current portion of insurance contract liabilities is included in other current liabilities in the consolidated statements of financial position. *3 As of April 1, 2022, March 31, 2023 and March 31, 2024, the carrying amounts of the current portion of insurance contract liabilities were 141,796 million yen, 145,057 million yen and 162,344 million yen, respectively, and the carrying amounts of the non-current portion of insurance contract liabilities were *4 Risk adjustment for non-financial (b) Changes in insurance contract liabilities from insurance contracts not measured under the PAA by measurement component Yen in millions Estimates of Risk adjustment for non-financial CSM Total Balance as of April 1, 2022 Insurance contract assets (222,149 ) 10,092 156,727 (55,330 ) Insurance contract liabilities 10,842,043 436,103 1,810,803 13,088,949 Net amounts 10,619,894 446,195 1,967,530 13,033,619 Changes that relate to future service Changes in estimates that adjust the CSM 155,005 (29,046 ) (125,959 ) — Changes in estimates that do not adjust the CSM (735 ) (2,512 ) — (3,247 ) Effect of contracts initially recognized during the period (318,707 ) 28,042 293,310 2,645 Total changes that relate to future service (164,437 ) (3,516 ) 167,351 (602 ) Changes that relate to current service CSM recognized in profit or loss for the services provided — — (151,483 ) (151,483 ) Change in risk adjustment for non-financial — (23,466 ) — (23,466 ) Experience adjustments 21,622 — — 21,622 Total changes that relate to current service 21,622 (23,466 ) (151,483 ) (153,327 ) Changes that relate to past service (628 ) (23 ) — (651 ) Insurance service result (143,443 ) (27,005 ) 15,868 (154,580 ) Insurance finance expenses (income) (996,203 ) 1,357 69,528 (925,318 ) Total amounts recognized in comprehensive income (1,139,646 ) (25,648 ) 85,396 (1,079,898 ) Cash flows Premiums received 1,479,110 — — 1,479,110 Insurance acquisition cash flows (130,221 ) — — (130,221 ) Claims and other insurance service expenses paid (951,330 ) — — (951,330 ) Total cash flows 397,559 — — 397,559 Other (1,008 ) 470 (309 ) (847 ) Balance as of March 31, 2023 Insurance contract assets (341,096 ) 39,067 241,278 (60,751 ) Insurance contract liabilities 10,217,895 381,950 1,811,339 12,411,184 Net amounts 9,876,799 421,017 2,052,617 12,350,433 Changes that relate to future service Changes in estimates that adjust the CSM 233,415 (18,328 ) (215,087 ) — Changes in estimates that do not adjust the CSM 6,008 (3,532 ) — 2,476 Effect of contracts initially recognized during the period (403,124 ) 40,912 364,328 2,116 Total changes that relate to future service (163,701 ) 19,052 149,241 4,592 Changes that relate to current service CSM recognized in profit or loss for the services provided — — (151,841 ) (151,841 ) Change in risk adjustment for non-financial — (26,899 ) — (26,899 ) Experience adjustments 5,076 — — 5,076 Total changes that relate to current service 5,076 (26,899 ) (151,841 ) (173,664 ) Changes that relate to past service 255 (2 ) — 253 Insurance service result (158,370 ) (7,849 ) (2,600 ) (168,819 ) Insurance finance expenses (income) 185,948 3,262 57,995 247,205 Total amounts recognized in comprehensive income 27,578 (4,587 ) 55,395 78,386 Cash flows Premiums received 1,748,139 — — 1,748,139 Insurance acquisition cash flows (138,544 ) — — (138,544 ) Claims and other insurance service expenses paid (1,107,850 ) — — (1,107,850 ) Total cash flows 501,745 — — 501,745 Other (834 ) 52 76 (706 ) Balance as of March 31, 2024 Insurance contract assets (291,878 ) 27,824 207,079 (56,975 ) Insurance contract liabilities 10,697,166 388,658 1,901,009 12,986,833 Net amounts 10,405,288 416,482 2,108,088 12,929,858 (3) Effect of contracts initially recognized in the year The table below shows the effect of contracts initially recognized during the fiscal years ended March 31, 2023 and 2024 on measurement components of insurance contracts not measured under the PAA. Yen in millions Fiscal year ended March 31 2023 2024 Profitable Onerous Total Profitable Onerous Total Estimates of the present value of future cash outflows Claims and other insurance service expenses 1,675,615 6,271 1,681,886 2,117,351 4,844 2,122,195 Insurance acquisition cash flows 144,128 2,142 146,270 143,674 2,203 145,877 Total estimates of the present value of future cash outflows 1,819,743 8,413 1,828,156 2,261,025 7,047 2,268,072 Estimates of the present value of future cash inflows (2,141,084 ) (5,779 ) (2,146,863 ) (2,666,256 ) (4,940 ) (2,671,196 ) Total estimates of the present value of future cash flows (321,341 ) 2,634 (318,707 ) (405,231 ) 2,107 (403,124 ) Risk adjustment for non-financial 28,031 11 28,042 40,903 9 40,912 CSM 293,310 — 293,310 364,328 — 364,328 Total effect on measurement components — 2,645 2,645 — 2,116 2,116 (4) Insurance revenue The table below shows the breakdown of insurance revenue for the fiscal years ended March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Insurance contracts not measured under the PAA Amounts relating to the changes in the liability for remaining coverage Expected incurred claims and insurance service expenses 152,732 163,182 Changes in risk adjustments for non-financial 23,466 26,899 CSM recognized in profit or loss for services provided 151,483 151,841 Total amounts relating to the changes in the liability for remaining coverage 327,681 341,922 Recovery of insurance acquisition cash flows 98,234 109,824 Total insurance revenue for the insurance contracts not measured under the PAA 425,915 451,746 Insurance contracts measured under the PAA 128,655 134,369 Total insurance revenue 554,570 586,115 (5) Timing of when the CSM is expected to be recognized in profit or loss The table below shows when Sony expects to recognize the CSM in profit or loss for insurance contracts not measured under the PAA as of March 31, 2023 and 2024. CSM Yen in millions Within 1 year 1 year 2 years 3 years 4 years 5 years More than Total As of March 31, 2023 120,412 112,562 105,060 97,082 89,903 367,009 1,160,589 2,052,617 As of March 31, 2024 125,233 117,663 109,776 100,912 92,671 376,011 1,185,822 2,108,088 (6) Information of net investment returns and insurance finance income or expenses The table below shows the information related to net investment returns on assets and insurance finance expenses (income) recognized in profit or loss and other comprehensive income for the fiscal years ended March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Amounts recognized in profit or loss Net investment returns *1 Financial assets measured at FVPL (59,193 ) 715,388 Interest income from debt instruments required to be measured at FVOCI 179,207 180,822 Currency exchange differences 93,858 156,970 Other (12,374 ) (35,463 ) Total net investment returns 201,498 1,017,717 Insurance finance expenses (income) *2 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks (176,328 ) 685,726 Interest accreted 174,107 183,188 Currency exchange differences 103,391 173,230 Other (15,771 ) (12,444 ) Total insurance finance expenses (income) 85,399 1,029,700 Amounts recognized in profit or loss 116,099 (11,983 ) Amounts recognized in other comprehensive income Net investment returns Underlying assets (1,131,508 ) (969,774 ) Total net investment returns (1,131,508 ) (969,774 ) Insurance finance expenses (income) *2 Effect of changes in interest rates and other financial risks (1,010,761 ) (782,495 ) Other 44 — Total insurance finance expenses (income) (1,010,717 ) (782,495 ) Amounts recognized in other comprehensive income (120,791 ) (187,279 ) Total net investment returns and insurance finance income or expenses (4,692 ) (199,262 ) *1 Included in other financial services revenue in the consolidated statements of income. *2 Expenses are presented as positive and income is presented as negative. (7) Underlying items of insurance contracts measured under the variable fee approach The table below shows the underlying items of insurance contracts measured under the variable fee approach and their fair values as of March 31, 2023 and 2024. Yen in millions March 31 2023 2024 Cash and cash equivalents 23,723 19,411 Debt securities Japanese national/local government bonds and corporate bonds 40,143 42,349 Foreign national/local government bonds and corporate bonds 157,724 312,919 Equity securities 1,107,400 1,855,432 Other 964 2,390 Total fair values of the underlying items of insurance contracts measured under the variable fee approach 1,329,954 2,232,501 (8) Disclosure of transition to IFRS 17 Upon transition to IFRS 17 as of April 1, 2022, Sony determined that it would be impracticable to apply the full retrospective approach to certain groups of insurance contracts, as the necessary information was unavailable due to restrictions of contract data and systems in the past or it was impossible to recreate past estimation without the use of hindsight. Sony has applied alternative transition methods (the modified retrospective approach or the fair value approach) to groups of insurance contracts for which the full retrospective approach is impracticable as of the date of the transition. Sony has applied the following approaches on transition to IFRS 17: Year of issue (fiscal year) Transition approach 2015 and thereafter For all groups of insurance contracts: Full retrospective approach 1993 – 2014 For groups of insurance contracts with direct participation features and certain groups of insurance contracts without direct participation features: Fair value approach For other groups of insurance contracts: Modified retrospective approach In and before 1992 For all groups of insurance contracts: Fair value approach Modified retrospective approach The objective of the modified retrospective approach was to achieve the closest outcome to retrospective application possible using reasonable and supportable information available without undue cost or effort. Sony has applied each of the following modifications only to the extent that it did not have reasonable and supportable information to apply IFRS 17 retrospectively. Sony has applied the following modifications to certain groups of insurance contracts: • for groups of contracts issued, initiated or acquired from April 1, 1993 to March 31, 2015, the future cash flows on initial recognition were estimated by adjusting the amount as of April 1, 2015, which can be determined retrospectively, for the cash flows that were known to have occurred before that date; • for groups of contracts issued, initiated or acquired from April 1, 1993 to March 31, 2013, the illiquidity premiums applied to the observable risk-free yield curves on initial recognition were estimated by determining an average spread between the observable risk-free yield curves and the discount rates, which can be determined retrospectively, for the period from April 1, 2013 to March 31, 2022. The amount of insurance finance income or expenses recognized in accumulated other comprehensive income as of April 1, 2022 was calculated by using this discount rate; and • the risk adjustment for non-financial After applying such modifications to fulfillment cash flows, the CSM (or the loss component) on initial recognition was determined as follows: • the amount of the CSM recognized as profit or loss before April 1, 2022 was determined by comparing the remaining coverage units as of April 1, 2022 and the coverage units provided based on groups of insurance contracts before that date; and • the amount allocated to the loss component before April 1, 2022 was determined using the proportion of the loss component relative to the total estimate of the present value of the future cash outflows plus the risk adjustment for non-financial Fair value approach Under the fair value approach, the CSM (or the loss component) as of April 1, 2022 was determined as the difference between the fair value of a group of insurance contracts and the fulfillment cash flows at that date. For all insurance contracts measured under the fair value approach, Sony used reasonable and supportable information available as of April 1, 2022 to determine the following matters: • how to identify groups of contracts; • whether a contract meets the definition of an insurance contract with direct participation features; and • how to identify discretionary cash flows for contracts without direct participation features. For groups of contracts measured under the fair value approach, the discount rates on initial recognition were determined as of April 1, 2022 rather than at the date of initial recognition. For all insurance contracts measured under the fair value approach, the amount of insurance finance income or expenses recognized in accumulated in other comprehensive income as of April 1, 2022 was determined to be zero. The effects of transition to IFRS 17 on Sony’s consolidated financial statements are as follows: i) Insurance revenue and the CSM by transition approach Upon transition to IFRS 17, Sony applied either the modified retrospective approach or the fair value approach for groups of insurance contracts where it was impracticable to fully apply IFRS 17 retrospectively. The table below shows insurance revenues by transition approach for the fiscal years ended March 31, 2023 and 2024, as well as the balances of the CSM by transition approach as of March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Contracts Contracts New Total Contracts Contracts New Total Insurance revenue 190,199 26,988 337,383 554,570 185,731 27,079 373,305 586,115 CSM Beginning balance of the fiscal year 912,623 26,938 1,027,969 1,967,530 864,530 58,008 1,130,079 2,052,617 Changes that relate to future service (2,007 ) 34,088 135,270 167,351 (61,165 ) 32,341 178,065 149,241 Changes that relate to current service (74,984 ) (3,778 ) (72,721 ) (151,483 ) (66,827 ) (5,834 ) (79,180 ) (151,841 ) Insurance finance expense (income) 29,352 1,107 39,069 69,528 26,954 1,673 29,368 57,995 Other (454 ) (347 ) 492 (309 ) 177 83 (184 ) 76 Ending balance of the fiscal year 864,530 58,008 1,130,079 2,052,617 763,669 86,271 1,258,148 2,108,088 ii) Changes in accumulated other comprehensive income for financial assets measured at fair value through other comprehensive income due to the The table below shows the changes in accumulated other comprehensive income during the fiscal years ended March 31, 2023 and 2024 for financial assets measured at fair value through other comprehensive income, among investment assets related to groups of insurance contracts to which Sony applied the modified retrospective approach or the fair value approach as of the date of the transition. Yen in millions Fiscal year ended March 31 2023 2024 Beginning balance of the fiscal year (878,774 ) (448,390 ) Net change in fair value 590,737 618,978 Net amount reclassified to profit or loss 7,018 16,903 Related income tax (167,371 ) (178,046 ) Ending balance of the fiscal year (448,390 ) 9,445 iii) Redesignation of financial assets at the application of IFRS 17 At the application of IFRS 17, Sony redesignated the measurement method of certain financial assets in order to mitigate accounting mismatches arising from the assets and liabilities in the insurance business. Mainly in the life insurance business, Sony mitigates accounting mismatches by designating certain debt securities to be measured at FVPL, to keep consistency with insurance finance income or expenses incurred from certain variable life insurance and individual variable annuity contracts. Sony applied IFRS 9 before its application of IFRS 17 and redesignated the financial assets based on the facts and circumstances existing at the date of the application of IFRS 17 (April 1, 2023). For financial assets derecognized in the period from the date of transition to IFRS 17 (April 1, 2022) to the date of the application of IFRS 17, Sony applied the classification overlay approach and accounted for them based on the measurement method after redesignation. The table below shows the measurement method and carrying amounts of the financial assets affected by such redesignation before and after the application of IFRS 17 as of April 1, 2023. Yen in millions April 1, 2023 Before application After application Carrying amount Carrying amount Debt securities Financial assets redesignated to be measured at FVPL *1 Japanese national / local government bonds and corporate bonds 1,277,090 1,277,090 Foreign national / local government bonds and corporate bonds 20,570 20,570 Financial assets redesignated to be measured at FVOCI *2 Japanese national / local government bonds and corporate bonds 84,651 88,497 *1 These financial assets were measured at FVOCI before applying IFRS 17. *2 These financial assets were measured at amortized cost before applying IFRS 17. (9) Insurance and market risks Risk management policy and exposure In the life insurance business, Sony manages various market-related risks in the following manner: (a) Insurance risk management Insurance risk With respect to insurance underwriting risk, based on the level of policy reserves and capital levels, the life insurance subsidiary manages the insurance portfolio appropriately, such as setting policy limits for each type of insurance as necessary. In addition, underwriting standards and standards for revising and abolishing each product are clearly defined as internal rules and are regularly reviewed. Concentration of insurance risk The insurance contract portfolio does not have an excessively concentrated insurance risk. (b) Market risk management Interest rate risk management Interest rate risk is managed by the risk management division of the life insurance subsidiary based on the policies for interest rate risk management that specify details such as risk management methods and procedures. Based on ALM policies that are determined through such methods as deliberation by the life insurance subsidiary’s Executive Committee, the subsidiary determines and confirms actual risk conditions with its Board of Directors. The division maintains an overall understanding of the interest rates and durations of financial instruments, monitors them based on the analysis of the quantity of risk using VaR, and periodically reports the status of each risk to the life insurance subsidiary’s Board of Directors and Executive Committee. As part of the ALM management, the life insurance subsidiary invests in financial assets that match the characteristics of the insurance contract obligations, and thereby reduces interest rate risk as much as possible. Through the purchase and sale of financial assets included in their portfolio, the interest rate sensitivity (duration) of financial assets and insurance contract obligations is matched as much as possible so that they ensure sufficient cash flow to settle insurance claims as they come due. Exchange rate risk management Exchange rate risk is managed by the risk management division of the life insurance subsidiary based on the policies for exchange rate risk management that specify details such as risk management methods and procedures. The division periodically reports the status of each risk to the life insurance subsidiary’s Board of Directors and Executive Committee. Equity market price fluctuation risk management Equity market price fluctuation risk is managed by the risk management division of the life insurance subsidiary based on the policies for equity market price fluctuation risk management that specify details such as risk management methods and procedures. The division periodically reports the status of each risk to the life insurance subsidiary’s Board of Directors and Executive Committee. Derivative transactions risk management Derivative transactions are managed by the risk management division of the life insurance subsidiary based on the policies for derivative transactions that specify details such as risk management methods and procedures. The division periodically reports the status of each risk to the life insurance subsidiary’s Board of Directors and Executive Committee. Sensitivity analysis Market risk The table below shows the effects on income before income taxes and equity as of March 31, 2023 and 2024 if the underlying assumptions of the insurance contracts and financial instruments which Sony has in the life insurance business had changed. March 31, 2023 Yen in millions Insurance contracts Financial Total Assumption Changes in assumptions, etc. Income income Equity Income Equity Income Equity Interest rates 50bp decrease (215,660 ) (822,046 ) 219,130 945,915 3,470 123,869 50bp increase 168,357 689,356 (187,676 ) (822,251 ) (19,319 ) (132,895 ) Fair value of stocks 10% decrease 210,057 151,241 (213,251 ) (153,890 ) (3,194 ) (2,649 ) 10% increase (213,822 ) (153,952 ) 213,251 153,890 (571 ) (62 ) Foreign exchange rates 10% appreciation of the Yen 319,330 213,577 (338,934 ) (211,494 ) (19,604 ) 2,083 10% depreciation of the Yen (322,502 ) (215,861 ) 338,934 211,494 16,432 (4,367 ) Maintenance expenses rates 10% increase (3,934 ) (7,028 ) — — (3,934 ) (7,028 ) Lapse and surrender rates 10% increase 596 16,398 — — 596 16,398 Mortality rates (death protection) 5% increase (6,395 ) (6,443 ) — — (6,395 ) (6,443 ) Mortality rates (third sector / annuity products) 5% increase 1,941 4,629 — — 1,941 4,629 Morbidity rates 5% increase (9,373 ) (18,197 ) — — (9,373 ) (18,197 ) March 31, 2024 Yen in millions Insurance contracts Financial Total Assumption Changes in assumptions, etc. Income Equity Income Equity Income Equity Interest rates 50bp decrease (152,232 ) (653,432 ) 165,181 806,432 12,949 153,000 50bp increase 112,418 548,289 (143,050 ) (705,029 ) (30,632 ) (156,740 ) Fair value of stocks 10% decrease 339,421 244,383 (341,783 ) (246,544 ) (2,362 ) (2,161 ) 10% increase (344,921 ) (248,343 ) 341,783 246,544 (3,138 ) (1,799 ) Foreign exchange rates 10% appreciation of the Yen 468,851 315,357 (470,452 ) (287,872 ) (1,601 ) 27,485 10% depreciation o |
Short-term borrowings and long-
Short-term borrowings and long-term debt | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of detailed information about borrowings [abstract] | |
Short-term borrowings and long-term debt | 14. Short-term borrowings and long-term debt Short-term borrowings and long-term debt are comprised of the following: March 31, 2023 Book value (Yen in millions) Weighted average interest rate Due Short-term borrowings 1,914,934 1.89 % Long-term debt Long-term loans 1,074,060 1.70 % 2023-2056 Unsecured bonds 349,332 0.30 % 2023-2029 Lease liabilities 532,246 2.35 % 1,955,638 Less — Portion due within one year 187,942 1,767,696 March 31, 2024 Book value (Yen in millions) Weighted average interest rate Due Short-term borrowings 1,812,605 2.64 % Long-term debt Long-term loans 1,160,024 1.90 % 2024-2058 Unsecured bonds 544,078 0.41 % 2024-2034 Lease liabilities 571,726 2.53 % 2,275,828 Less — Portion due within one year 217,711 2,058,117 In the Financial Services segment, Sony pledged assets as collateral for short-term borrowings and long-term debt and the pledged assets are comprised of the following: Yen in millions March 31 2023 2024 Securities 1,678,553 1,597,034 Housing loans in the banking business 829,659 883,882 In addition to the above, in the Financial Services segment, Sony pledged securities for securities-for-securities Yen in millions March 31 2023 2024 Securities 4,728 — Furthermore, in the Financial Services segment, Sony pledged securities as collateral for cash settlements, variation margins of futures markets and certain other purposes and the pledged securities are as follows: Yen in millions March 31 2023 2024 Securities 80,328 77,524 In March 2024, Sony Group Corporation issued unsecured straight bonds in the total principal amount of 150,000 million yen . Sony used There are no significant adverse debt covenants or cross-default provisions related to the other short-term borrowings and long-term debt. |
Derivative instruments and hedg
Derivative instruments and hedging activities | 12 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments And Hedging Activities [Abstract] | |
Derivative instruments and hedging activities | 15. 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, swap agreements, 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 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. 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. A description of the purpose and classification of the derivative financial instruments held by Sony is as follows: Foreign exchange forward contracts, swap agreements and currency option contracts Foreign exchange forward contracts, swap agreements 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 expire in the same month as the corresponding purchased foreign currency option contracts. Sony also entered into foreign exchange forward contracts and foreign currency option 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, 2022, 2023 and 2024. The ineffective portions of the hedging relationships were not significant. Accordingly, these derivatives have been designated as cash flow hedges. Foreign exchange forward contracts and foreign currency option contracts that do not qualify as hedges are measured at fair value with changes in value recognized in financial income and financial expenses. Foreign exchange forward contracts, foreign currency option contracts and swap agreements held by certain subsidiaries in the Financial Services segment are measured at fair value with changes in value recognized in financial services revenue. 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 debt securities resulting from adverse fluctuations in interest rates, foreign currency exchange rates and changes in fair values. 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 debt securities. Certain subsidiaries in the Financial Services segment have interest rate swap agreements as part of their ALM, which are measured at fair value with changes in value recognized in financial services revenue. 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 measured at fair value with changes in value recognized in financial income and financial expenses. 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: Yen in millions March 31, 2023 March 31, 2024 Asset derivatives Liability derivatives Asset derivatives Liability derivatives Interest rate contracts Interest rate swap agreements 43,464 3,139 49,347 3,876 Interest rate swaptions agreements 380 2,517 272 2,574 Foreign exchange contracts Foreign exchange forward contracts 12,496 12,257 6,951 11,088 Swap agreements 3,774 5,781 7,442 4,066 Currency option contracts purchased 508 835 74 791 Currency option contracts written — 5 — 4 Other currency contracts 4,540 998 5,958 1,544 Equity contracts Equity future contracts 290 3,321 — 3,428 Equity swap agreements — 5,270 — 1,916 Option contracts purchased 4,692 — 2,379 — Total derivatives 70,144 34,123 72,423 29,287 The estimated fair values and maturity analysis for notional amounts of Sony’s outstanding derivative instruments which are designated as hedging instruments are summarized as follows: Yen in millions March 31, 2023 Notional amounts Fair Value Within 1 Over 1 Total Asset Liability Presentation in the Cash flow hedging relationships Foreign exchange forward contracts 70,125 — 70,125 458 — Current assets: Other Average rate (JPY/USD) 131.3 — Currency option bought contracts 45,789 — 45,789 502 — Current assets: Other Average rate (JPY/USD) 125.8 — Currency option sold 47,995 — 47,995 — 835 Current Average rate (JPY/USD) 131.9 — Interest rate swap agreements — 159,918 159,918 28,513 — Non-current assets: Average rate — 1.5 % Yen in millions March 31, 2024 Notional amounts Fair Value Within 1 Over 1 Total Asset Liability Presentation in the Cash flow hedging relationships Foreign exchange forward contracts 92,973 — 92,973 — 1,580 Current liabilities: Other Average rate (JPY/USD) 145.7 — Currency option bought contracts 17,224 — 17,224 70 — Current assets: Other Average rate (JPY/USD) 140.0 — Currency option sold 17,554 — 17,554 — 791 Current liabilities: Other Average rate (JPY/USD) 142.7 — Interest rate swap agreements — 181,704 181,704 33,098 — Non-current Average rate — 1.5 % Changes in the fair value of hedging instruments related to cash flow hedges recorded in accumulated other comprehensive income for the fiscal years ended March 31, 2023 and 2024 are summarized as follows: Yen in millions Foreign exchange Interest rate Total Balance as of April 1, 2022 (5,503 ) 11,537 6,034 Changes in fair value of hedging instruments recognized in other comprehensive (26,950 ) 13,975 (12,975 ) Reclassification adjustments to profit (loss) for the year *1 * 34,825 (4,012 ) 30,813 Deferred tax (2,408 ) (3,051 ) (5,459 ) Balance as of March 31, 2023 (36 ) 18,449 18,413 Changes in fair value of hedging instruments recognized in other comprehensive (28,288 ) 13,256 (15,032 ) Reclassification adjustments to profit (loss) for the year *1 * 25,862 (8,880 ) 16,982 Deferred tax 742 (1,340 ) (598 ) Balance as of March 31, 2024 (1,720 ) 21,485 19,765 *1 In the consolidated statements of income, the amount reclassified to profit (loss) is included in sales for hedges of foreign exchange contracts and in financial expenses for hedges of interest rate contracts. *2 For the fiscal years ended March 31, 2023 and 2024, hedge ineffectiveness recognized in profit or loss was not material. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Offsetting of financial assets and financial liabilities | 16. Offsetting of financial assets and financial liabilities Tables below show the gross amounts of financial assets and liabilities, amounts offset, and net amounts presented in the consolidated statements of financial position, as well as the financial assets and liabilities that are subject to enforceable master netting agreements or similar agreements, as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Gross amounts recognized financial assets and financial liabilities Amounts offset in the consolidated statements of financial position Net amounts presented in the consolidated statements of financial position Gross amounts not offset in the consolidated statements of financial position Financial instruments Cash collateral Net amounts Derivative assets *1 34,382 — 34,382 16,430 13,852 4,100 Trade receivables *2 175,872 174,930 942 — — 942 Total assets 210,254 174,930 35,324 16,430 13,852 5,042 Derivative liabilities *1 31,997 — 31,997 21,700 5,216 5,081 Trade payables *2 281,295 174,930 106,365 — — 106,365 Short-term borrowings *3 1,557,652 — 1,557,652 1,556,595 — 1,057 Total liabilities 1,870,944 174,930 1,696,014 1,578,295 5,216 112,503 Yen in millions March 31, 2024 Gross amounts recognized financial assets and financial liabilities Amounts offset in the consolidated statements of financial position Net amounts presented in the consolidated statements of financial position Gross amounts not offset in the consolidated statements of financial position Financial instruments Cash collateral Net amounts Derivative assets *1 33,661 — 33,661 12,098 17,878 3,685 Trade receivables *2 48,925 47,550 1,375 — — 1,375 Total assets 82,586 47,550 35,036 12,098 17,878 5,060 Derivative liabilities *1 28,107 — 28,107 13,153 6,522 8,432 Trade payables *2 69,436 47,550 21,886 — — 21,886 Short-term borrowings *3 1,504,893 — 1,504,893 1,503,455 — 1,438 Total liabilities 1,602,436 47,550 1,554,886 1,516,608 6,522 31,756 *1 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. Master netting agreements create a right of set off, but the master netting agreements do not automatically provide for such set off. *2 Amounts offset in the consolidated statements of financial position are related to repurchase agreements of products. *3 Short-term borrowings relate to bond lending transactions and repurchase agreements (repos). |
Employee benefits
Employee benefits | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Employee benefits | 17. Employee benefits (1) Defined benefit and severance plans Upon terminating employment, employees of Sony Group 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 Group 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 Group 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. 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. Net defined benefit liability (asset) recognized in the consolidated statements of financial position Amounts recognized in the consolidated statements of financial position are as follows: Yen in millions Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Present value of defined benefit obligations 573,143 543,292 124,702 126,987 Fair value of plan assets (447,747 ) (464,376 ) (56,987 ) (47,893 ) The impact of minimum funding requirement and asset ceiling 6,897 9,837 3,455 3,457 Net amount 132,293 88,753 71,170 82,551 Amount recognized in the consolidated statements of financial position Net defined benefit asset (28,334 ) (69,208 ) (1,775 ) (2,328 ) Net defined benefit liability 160,627 157,961 72,945 84,879 Net amount 132,293 88,753 71,170 82,551 Present value of defined benefit obligations The changes in the defined benefit obligations for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2023 2024 2023 2024 Beginning balance of the fiscal year 614,763 573,143 277,903 124,702 Current service cost 12,660 12,078 2,319 1,783 Past service cost 5 11 (365 ) 142 Interest cost 4,367 6,534 4,623 5,349 Remeasurements: Change in demographic assumptions 2,974 4,399 (458 ) (385 ) Change in financial assumptions (27,314 ) (16,568 ) (60,179 ) 1,170 Other (569 ) 1,677 (940 ) 632 Translation adjustments — — 11,213 16,068 Plan participants’ contributions — — 516 565 Benefits paid (33,741 ) (37,787 ) (9,798 ) (11,198 ) Curtailments and settlements* — — (100,132 ) (11,841 ) Other (2 ) (195 ) — — Ending balance of the fiscal year 573,143 543,292 124,702 126,987 * Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2023 relate mainly to the termination of the defined benefit pension plan at certain U.K. subsidiaries. Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2024 relate mainly to the termination of the defined benefit pension plan at certain U.S. subsidiaries. The weighted average duration of defined benefit obligations as of March 31, 2023 and 2024 is as follows: Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Weighted average duration of defined benefit obligations 11.2 years 10.9 years 12.2 years 12.5 years The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2023 and 2024 are as follows: Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Discount rate 1.1 % 1.4 % 4.3 % 4.1 % The sensitivities of the defined benefit obligations to changes in the significant weighted-average actuarial assumptions are as follows: Yen in millions Japanese plans Foreign plans March 31 March 31 Change in assumptions 2023 2024 2023 2024 Discount rate 0.25% decrease 16,042 14,362 3,487 3,657 0.25% increase (13,201 ) (12,077 ) (3,316 ) (3,493 ) The sensitivity analyses are calculated using the same method used to determine the defined benefit liability recognized in the consolidated statements of financial position while holding all other assumptions consistent. Fair value 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 current economic conditions 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 their dependence on contributions from Sony. To mitigate any potential concentration risk of plan assets, 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, 2024, are, as a result of Sony’s asset liability management, 18% (2023: 15%) of equity securities, 51% (2023: 53%) of fixed income securities and 31% (2023: 32%) of other investments for the pension plans of Sony Group Corporation and most of its subsidiaries in Japan, and, on a weighted average basis, 2% (2023: 1%) of equity securities, 13% (2023: 28%) of fixed income securities and 85% (2023: 71%) of other investments for the pension plans of foreign subsidiaries. The changes in the plan assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Japanese plans Foreign plans Fiscal year ended Fiscal year ended 2023 2024 2023 2024 Beginning balance of the fiscal year 474,933 447,747 198,791 56,987 Interest income 3,649 5,424 2,804 2,592 Remeasurements: Return on plan assets excluding interest income (13,378 ) 32,764 (43,173 ) (2,485 ) Translation adjustments — — 5,760 7,521 Employer contribution 5,650 2,316 3,444 5,381 Plan participants’ contributions — — 516 585 Benefits paid (23,107 ) (23,875 ) (8,240 ) (10,603 ) Curtailments and settlements* — — (102,915 ) (12,085 ) Ending balance of the fiscal year 447,747 464,376 56,987 47,893 * Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2023 relate mainly to the termination of the defined benefit pension plan at certain U.K. subsidiaries. Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2024 relate mainly to the termination of the defined benefit pension plan at certain U.S. subsidiaries. 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 defined benefit obligations. Sony expects to contribute approximately 2 billion yen to the Japanese plans and approximately 5 billion yen to the foreign plans during the fiscal year ending March 31, 2025. The fair values of the assets held by Japanese and foreign plans are as follows: Yen in millions Japanese plans March 31 2023 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 18,060 18,060 — Equity securities *1 37,562 33,335 4,227 Fixed income: Government bonds *2 10,369 975 9,394 Corporate bonds *3 4,587 25 4,562 Commingled funds *4 287,978 — 287,978 Private equity 40,612 — 40,612 Hedge funds 48,579 — 48,579 Total 447,747 52,395 395,352 Yen in millions Japanese plans March 31 2024 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 8,390 8,390 — Equity securities *1 56,122 50,656 5,466 Fixed income: Government bonds *2 11,211 1 11,210 Corporate bonds *3 5,403 — 5,403 Commingled funds *4 297,828 — 297,828 Private equity 40,017 — 40,017 Hedge funds 45,405 — 45,405 Total 464,376 59,047 405,329 *1 Represents primarily Japanese equity securities. *2 Includes approximately 85% and 84% of debt securities issued by Japanese national and local governments, and *3 Includes debt securities issued by Japanese and foreign corporations and government related agencies. *4 Commingled funds represent pooled institutional investments, including primarily investment trusts. Yen in millions Foreign plans March 31 2023 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 2,403 2,403 — Equity securities *1 65 65 — Fixed income: Government bonds *2 2,135 — 2,135 Corporate bonds *3 12,052 — 12,052 Asset-backed securities 61 — 61 Insurance contracts *4 19,401 341 19,060 Commingled funds *5 18,113 — 18,113 Real estate and other 2,757 8 2,749 Total 56,987 2,817 54,170 Yen in millions Foreign plans March 31 2024 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 4,692 4,692 — Equity securities *1 84 84 — Fixed income: Government bonds *2 1,152 — 1,152 Corporate bonds *3 160 — 160 Asset-backed securities 36 — 36 Insurance contracts *4 21,736 359 21,377 Commingled funds *5 16,682 — 16,682 Real estate and other 3,351 10 3,341 Total 47,893 5,145 42,748 *1 Represents 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 and bulk insurance contracts. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. The impact of minimum funding requirement and asset ceiling The impact of minimum funding requirement and asset ceiling for the fiscal years ended March 31, 2023 and 2024 is as follows: Yen in millions Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2023 2024 2023 2024 Beginning balance of the fiscal year 4,870 6,897 2,491 3,455 Interest income 39 83 65 186 Remeasurements: Change in asset ceiling excluding interest income 1,988 2,857 811 (728 ) Translation adjustments — — 88 544 Ending balance of the fiscal year 6,897 9,837 3,455 3,457 (2) Defined contribution plans Total defined contribution expenses for the fiscal years ended March 31, 2022, 2023 an d 202 oll ws: Yen in millions Fiscal year ended March 31 2022 2023 2024 Japanese plans 11,137 11,461 11,662 Foreign plans 11,154 17,271 16,137 (3) Employee benefits expenses Employee benefits expenses included in cost of sales, selling, general and administrative, and financial services expenses in the consolidated statements of income for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Total employee benefits expenses 1,253,148 1,539,965 1,743,936 Employee benefits expenses include salaries, bonuses, stock-based compensation, social security, welfare and expenses relating to post-employment benefits. |
Participation and residual liab
Participation and residual liabilities in the Pictures segment | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Participation and residual liabilities in the Pictures segment | 18. Participation and residual liabilities in the Pictures segment The changes in participation and residual liabilities for the fiscal year ended March 31, 2024 are as follows: Yen in millions Fiscal year ended 2024 Balance at beginning of the fiscal year 423,175 Current portion 230,223 Non-current 192,952 Additional participation and residual liabilities 213,572 Amounts paid during the year (215,967 ) Unpaid amounts reversed during the year (20,212 ) Translation adjustment 57,256 Balance at end of the fiscal year 457,824 Current portion 251,743 Non-current 206,081 There was no material change due to discounting during the fiscal year. |
Other assets and other liabilit
Other assets and other liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Other assets and other liabilities | 19. Other assets and other liabilities (1) Other assets Components of other assets as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Advance payments and prepaid expenses 481,080 606,389 Income taxes receivable and other taxes receivable 243,569 253,267 Insurance contract assets 60,751 56,975 Other 197,302 266,109 Total 982,702 1,182,740 Current assets 563,334 669,335 Non-current 419,368 513,405 (2) Other liabilities Components of other liabilities as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Contract liabilities 508,454 534,432 Accrued short-term employee benefits 394,948 477,737 Refund liabilities 197,836 218,465 Taxes payable other than income taxes 185,230 167,244 Accrued expenses 171,345 244,784 Insurance contract liabilities 145,057 162,344 Other long-term employee benefit obligations 64,684 91,251 Product warranties 26,167 24,753 Other 127,252 147,765 Total 1,820,973 2,068,775 Current liabilities 1,693,380 1,906,396 Non-current 127,593 162,379 The changes in product warranties for the fiscal year ended March 31, 2024 are as follows: Yen in millions Fiscal year ended 2024 Balance at beginning of the fiscal year 26,167 Additional product warranties 21,824 Amounts used during the year (20,469 ) Unused amounts reversed during the year (5,238 ) Translation adjustment 2,469 Balance at end of the fiscal year 24,753 |
Stockholders' equity
Stockholders' equity | 12 Months Ended |
Mar. 31, 2024 | |
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Stockholders' equity | 20. Stockholders’ equity (1) Common stock The number of shares of common stock authorized as of March 31, 2022, 2023 and 2024 was 3,600,000,000. The following table shows the changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2022, 2023 and 2024. All of the shares of common stock of Sony Group Corporation are issued with no par value, and the issued stock was fully paid. Number of shares Fiscal year ended March 31 2022 2023 2024 Balance at beginning of the fiscal year 1,261,058,781 1,261,081,781 1,261,081,781 Issuance of new shares 23,000 — 150,108 Balance at end of the fiscal year 1,261,081,781 1,261,081,781 1,261,231,889 As of March 31, 2022, 2023 and 2024, the number of shares of treasury stock, which was included in the balance of common stock shares issued above, were 24,078,136 shares, 26,584,221 shares and 39,783,003 shares, respectively. Sony Group 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 of Japan. Sony Group Corporation’s Board of Directors resolved and approved the setting of parameters for the repurchase of shares of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation at the meeting of the Board of Directors held on April 28, 2021. Under the above resolution, Sony Group Corporation repurchased 7,400,600 shares of its common stock for an amount of 88,281 million yen during the fiscal year ended March 31, 2022, and repurchased 806,300 shares of its common stock for an amount of 9,100 million yen during the fiscal year ended March 31, 2023. Sony Group Corporation’s Board of Directors resolved and approved the setting of parameters for the repurchase of shares of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation at the meeting of the Board of Directors held on May 10, 2022. Under the above resolution, Sony Group Corporation repurchased 8,545,600 shares of its common stock for an amount of 89,118 million yen during the fiscal year ended March 31, 2023, and repurchased 798,000 shares of its common stock for an amount of 10,000 million yen during the fiscal year ended March 31, 2024. Sony Group Corporation approved on May 17, 2023 by resolution of the Board of Directors the setting of parameters for the repurchase of shares of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation. Under the above resolution, Sony Group Corporation repurchased 14,869,300 shares of its common stock for an amount of 192,532 million yen during the fiscal year ended March 31, 2024. (2) Additional paid-in Additional paid-in paid-in (3) Retained earnings Retained earnings consist of legal reserves and accumulated earnings. The Companies Act of Japan provides that earnings in an amount equal to 10% of cash dividends from retained earnings shall be appropriated as a capital reserve or a legal reserve on the date of distribution of retained earnings until an aggregated amount of capital reserve and legal reserve equals 25% of common stock. Legal reserves may be used upon approval of the General Meeting of Shareholders. Dividends whose record date falls in the fiscal years ended March 31, 2023 and 2024, and whose effective date falls in the subsequent period are as follows: (Resolution) Type of shares Total amount of dividends (Yen in millions) Source of dividends Dividends per share (Yen) Record date Effective Board of Directors Common stock 49,380 Retained earnings 40.00 March 31, 2023 June 5, 2023 Board of Directors Common stock 54,965 Retained earnings 45.00 March 31, 2024 June 10, 2024 (4) Other comprehensive income Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Balance at April 1, 2021 Other Transfer to Balance at March 31, 2022 Changes in equity instruments measured at fair value through other comprehensive income 139,622 (106,426 ) (5,784 ) 27,412 Changes in debt instruments measured at fair value through other comprehensive income 1,264,737 (416,904 ) — 847,833 Cash flow hedges 1,299 4,735 — 6,034 Remeasurement of defined benefit pension plans — 33,641 (33,641 ) — Exchange differences on translating foreign operations 113,901 223,777 — 337,678 Insurance finance income (88 ) 599 — 511 Share of other comprehensive income of investments accounted for using the equity method 786 2,078 — 2,864 Total 1,520,257 (258,500 ) (39,425 ) 1,222,332 Yen in millions Balance at April 1, Cumulative Restated April 1, Restated other Transfer Restated March 31, Changes in equity instruments measured at fair value through other comprehensive income 27,412 — 27,412 (36,862 ) 298 (9,152 ) Changes in debt instruments measured at fair value through other comprehensive income 847,833 11,204 859,037 (819,192 ) — 39,845 Cash flow hedges 6,034 — 6,034 12,379 — 18,413 Remeasurement of defined benefit pension plans — — — 18,891 (18,891 ) — Exchange differences on translating foreign operations 337,678 — 337,678 175,525 — 513,203 Insurance finance income (expenses) 511 (1,911,861 ) (1,911,350 ) 727,716 — (1,183,634 ) Share of other comprehensive income of investments accounted for using the equity method 2,864 — 2,864 3,699 — 6,563 Other — 336 336 (144 ) — 192 Total 1,222,332 (1,900,321 ) (677,989 ) 82,012 (18,593 ) (614,570 ) Yen in millions Balance at April 1, 2023 Other Transfer to Balance at March 31, 2024 Changes in equity instruments measured at fair value through other comprehensive (9,152 ) (53,814 ) (12,326 ) (75,292 ) Changes in debt instruments measured at fair value through other comprehensive 39,845 (704,636 ) — (664,791 ) Cash flow hedges 18,413 1,352 — 19,765 Remeasurement of defined benefit pension plans — 25,875 (25,875 ) — Exchange differences on translating foreign operations 513,203 439,490 — 952,693 Insurance finance income (expenses) (1,183,634 ) 563,396 — (620,238 ) Share of other comprehensive income of investments accounted for using the equity 6,563 5,348 (20 ) 11,891 Other 192 (283 ) — (91 ) Total (614,570 ) 276,728 (38,221 ) (376,063 ) Each component of other comprehensive income and the related tax effect including noncontrolling interests for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 Comprehensive income components 2022 2023 Restated 2024 Items that will not be reclassified to profit or loss Changes in equity instruments measured at fair value through other comprehensive income Amount incurred during the year (139,511 ) (45,708 ) (70,838 ) Total before tax (139,511 ) (45,708 ) (70,838 ) Tax expense or (benefit) 33,085 8,846 17,024 Net of tax (106,426 ) (36,862 ) (53,814 ) Remeasurement of defined benefit pension plans Amount incurred during the year 43,134 27,136 37,225 Total before tax 43,134 27,136 37,225 Tax expense or (benefit) (9,493 ) (8,245 ) (11,350 ) Net of tax 33,641 18,891 25,875 Share of other comprehensive income of investments accounted for using the equity method Amount incurred during the year 869 197 704 Total before tax 869 197 704 Tax expense or (benefit) (292 ) (52 ) (91 ) Net of tax 577 145 613 Total (72,208 ) (17,826 ) (27,326 ) Yen in millions Fiscal year ended March 31 Comprehensive income components 2022 2023 Restated 2024 Items that may be reclassified subsequently to profit or loss Changes in debt instruments measured at fair value through other comprehensive income Amount incurred during the year (572,692 ) (1,132,497 ) (973,877 ) Reclassification to profit or loss (6,408 ) (5,300 ) (4,713 ) Total before tax (579,100 ) (1,137,797 ) (978,590 ) Tax expense or (benefit) 162,196 318,605 273,954 Net of tax (416,904 ) (819,192 ) (704,636 ) Cash flow hedges Amount incurred during the year (7,703 ) (12,975 ) (15,032 ) Reclassification to profit or loss 14,529 30,813 16,982 Total before tax 6,826 17,838 1,950 Tax expense or (benefit) (2,091 ) (5,459 ) (598 ) Net of tax 4,735 12,379 1,352 Insurance finance income (expenses) Amount incurred during the year 807 1,010,717 782,495 Reclassification to profit or loss (10 ) — — Total before tax 797 1,010,717 782,495 Tax expense or (benefit) (198 ) (283,001 ) (219,099 ) Net of tax 599 727,716 563,396 Exchange differences on translating foreign operations Amount incurred during the year 227,017 177,645 441,943 Reclassification to profit or loss (742 ) 630 463 Total before tax 226,275 178,275 442,406 Tax expense or (benefit) — — — Net of tax 226,275 178,275 442,406 Share of other comprehensive income of investments accounted for using the equity method Amount incurred during the year 1,501 3,554 4,735 Reclassification to profit or loss — — — Total before tax 1,501 3,554 4,735 Tax expense or (benefit) — — — Net of tax 1,501 3,554 4,735 Other Amount incurred during the year — (200 ) (393 ) Reclassification to profit or loss — — — Total before tax — (200 ) (393 ) Tax expense or (benefit) — 56 110 Net of tax — (144 ) (283 ) Total (183,794 ) 102,588 306,970 Total other comprehensive income (256,002 ) 84,762 279,644 |
Stock-based compensation plans
Stock-based compensation plans | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Stock-based compensation plans | 21. Stock-based compensation plans The stock-based compensation expense for the fiscal years ended March 31, 2022, 2023 and 2024 was 11,105 million yen, 15,781 million yen and 21,657 million yen, respectively. Sony Group Corporation has stock-based compensation plans primarily in the form of a restricted stock unit plan for Directors, Senior Executives, other officers and employees of Sony Group Corporation, and the directors, other officers and employees of its subsidiaries (the “RSU Plan”), and a stock option plan for Corporate Executive Officers and employees of Sony Group Corporation, and the directors, other officers and employees of its subsidiaries. The restricted stock units granted under the RSU Plan primarily have a three-year vesting schedule. Upon vesting, Sony Group Corporation promptly delivers shares of common stock, the number of which is equal to the number of units vested. Sony Group Corporation either issues new shares of common stock or reissues existing treasury stock upon delivering shares of common stock. The stock acquisition rights granted under the stock option plan primarily have a three-year vesting schedule and are Sony Group Corporation either issues new shares of common stock or reissues existing treasury stock upon the 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, 2022, 2023 and 2024 was 2,994 yen, 3,123 yen and 3,665 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, 2022, 2023 and 2024 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Fiscal year ended March 31 2022 2023 2024 Weighted-average assumptions Share price at the grant date 14,361 yen 11,389 yen 12,898 yen Risk-free interest rate 0.60 % 1.88 % 2.23 % Expected lives 5.33 years 5.46 years 5.61 years Expected volatility* 22.47 % 26.55 % 27.25 % Expected dividends 0.29 % 0.47 % 0.49 % * Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. A summary of the activities regarding the stock option plan during the fiscal years ended March 31, 2022, 2023 and 2024 is as follows: Fiscal year ended March 31 2022 2023 2024 Number of shares Weighted- average exercise price Number of shares Weighted- average exercise price Number of shares Weighted- average exercise price Yen Yen Yen Outstanding at beginning of the fiscal year 14,022,400 6,653 16,544,300 9,397 19,691,500 10,312 Granted 4,876,400 14,188 4,744,300 10,979 2,438,100 12,663 Exercised 1,944,900 5,313 1,260,800 5,565 2,121,700 6,795 Forfeited or expired 409,600 9,484 336,300 12,654 446,000 13,301 Outstanding at end of the fiscal year 16,544,300 9,397 19,691,500 10,312 19,561,900 11,652 Exercisable at end of the fiscal year 7,044,700 5,883 9,683,000 8,033 11,881,900 10,831 The weighted-average stock price at the time when the stock acquisition rights were exercised during the fiscal years ended March 31, 2022, 2023 and 2024 was 12,627 yen, 11,404 yen and 13,146 yen, respectively. A summary of unexercised stock acquisition rights as of March 31, 2022, 2023 and 2024 is as follows: Series Date of grant Exercise term Exercise Outstanding at end of the fiscal year (shares) 2022 2023 2024 24 th December 4, 2012 December 4, 2013 to December 3, 2022 ¥ 932 14,700 — — 25 th December 4, 2012 December 4, 2013 to December 3, 2022 $ 11.23 77,900 — — 26 th November 20, 2013 November 20, 2014 to November 19, 2023 ¥ 2,007 47,000 14,400 — 27 th November 20, 2013 November 20, 2014 to November 19, 2023 $ 20.01 127,300 110,700 — 28 th November 20, 2014 November 20, 2015 to November 19, 2024 ¥ 2,410.5 190,900 132,500 83,500 29 th November 20, 2014 November 20, 2015 to November 19, 2024 $ 20.67 154,100 135,500 122,700 30 th November 19, 2015 November 19, 2016 to November 18, 2025 ¥ 3,404 252,600 186,900 89,000 31 st November 19, 2015 November 19, 2016 to November 18, 2025 $ 27.51 170,800 148,200 131,300 32 nd November 22, 2016 November 22, 2017 to November 21, 2026 ¥ 3,364 516,300 390,400 231,400 33 rd November 22, 2016 November 22, 2017 to November 21, 2026 $ 31.06 367,900 330,500 286,100 34 th November 21, 2017 November 21, 2018 to November 20, 2027 ¥ 5,231 572,500 434,200 280,200 35 th November 21, 2017 November 21, 2018 to November 20, 2027 $ 45.73 676,400 620,500 505,700 36 th February 28, 2018 February 28, 2019 to February 27, 2028 ¥ 5,442 4,500 3,900 1,500 38 th November 20, 2018 November 20, 2019 to November 19, 2028 ¥ 6,440 977,800 839,900 596,700 39 th November 20, 2018 November 20, 2019 to November 19, 2028 $ 56.22 826,800 760,500 654,300 40 th November 20, 2019 November 20, 2020 to November 19, 2029 ¥ 6,705 1,389,700 1,210,100 874,600 41 st November 20, 2019 November 20, 2020 to November 19, 2029 $ 60.99 1,190,800 1,076,300 916,400 42 nd April 17, 2020 April 17, 2021 to April 16, 2030 $ 63.75 13,300 13,300 — 43 rd November 18, 2020 November 18, 2021 to November 17, 2030 ¥ 9,237 2,193,000 2,060,400 1,654,000 44 th November 18, 2020 November 18, 2021 to November 17, 2030 $ 87.48 1,974,800 1,862,100 1,714,600 45 th November 18, 2021 November 18, 2022 to November 17, 2031 ¥ 14,350 2,399,100 2,367,500 2,331,200 46 th November 18, 2021 November 18, 2022 to November 17, 2031 $ 124.90 2,391,100 2,277,100 2,137,800 47 th November 16, 2022 November 16, 2023 to November 15, 2032 ¥ 11,390 — 2,427,100 2,401,200 48 th November 16, 2022 November 16, 2023 to November 15, 2032 $ 77.89 — 2,289,500 2,124,000 49 th November 27, 2023 November 27, 2024 to November 26, 2033 ¥ 12,942 — — 1,294,200 50 th November 27, 2023 November 27, 2024 to November 26, 2033 $ 85.50 — — 1,131,500 |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Revenue | 22. Revenue (1) Contract balances Receivables from contracts with customers, contract assets and contract liabilities are comprised of the following: Yen in millions April 1 March 31 2022 2023 2024 Receivables from contracts with customers *1 1,382,377 1,679,106 1,931,631 Contract assets *2 16,785 19,355 17,820 Contract liabilities *3 366,227 508,454 534,432 *1 Receivables from contracts with customers are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other financial assets,” non-current. *2 Contract assets are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other non-current *3 Contract liabilities are included in the consolidated statements of financial position as “Other current liabilities” and “Other non-current Contract liabilities principally relate to customer advances received prior to performance. Revenues of 231,274 million yen, 303,779 million yen and 444,964 million yen were recognized during the fiscal years ended March 31, 2022, 2023 and 2024, which were included in the balance of contract liabilities as of April 1, 2021, 2022 and 2023. The amount of revenue recognized from performance obligations satisfied or partially satisfied in the previous periods is not significant. (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 contracts with an expected original duration of one year or less. The following table shows the summary of the transaction prices allocated to remaining performance obligations that are unsatisfied as of March 31, 2023 and 2024, respectively, of which more than half are expected to be recognized within one year and substantially all within three years. The amount of the transaction price related to variable consideration is included only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue to be recognized will not occur. Yen in millions March 31 2023 2024 Pictures — Motion Pictures and Television Productions *1 796,690 813,790 Pictures — Media Networks 8,120 10,027 Music *2 140,842 112,609 Others 68,708 58,717 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 The 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. (3) Contract costs Contract costs are comprised as follows: Yen in millions March 31 2023 2024 Incremental costs of obtaining a contract 6,110 6,882 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 6,917 million yen, 4,686 million yen and 4,562 million yen was recognized during the fiscal years ended March 31, 2022, 2023 and 2024, respectively. The incremental costs of obtaining a contract are primarily recognized in the ET&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 financial services revenue by segments, product categories and geographies, refer to Note 4. |
Supplemental consolidated state
Supplemental consolidated statements of income information | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of Supplemental consolidated statements of income information [Abstract] | |
Supplemental consolidated statements of income information | 23. Supplemental consolidated statements of income information (1) Other operating (income) expense, net Sony records transactions in other operating (income) expense, net due to either the nature of the transaction or in consideration of factors including the relationship to Sony’s core operations. Other operating (income) expense, net is comprised of the following: Yen in millions Fiscal year ended March 31 2022 2023 2024 Gain on transfer of GSN Games shares *1 (70,020 ) — — Gain on transfer of a portion of shares of Sony Payment Services *2 — — (19,763 ) (Gain) loss on purchase/sale of interests in subsidiaries and associates, net (4,593 ) (4,318 ) (6,905 ) (Gain) loss on sale, disposal or impairment of assets, net *3 8,316 (417 ) (4,675 ) Other 803 (7,286 ) 1,939 (65,494 ) (12,021 ) (29,404 ) *1 Refer to Note 31. *2 Refer to Note 8. *3 Refer to Notes 9 and 11. (2) Research and development expenditures Research and development expenditures recognized as an expense for the fiscal years ended March 31, 2022, 2023 and 2024 were 618,368 million yen, 735,698 million yen and 742,772 million yen, respectively. (3) Advertising costs Advertising costs included in selling, general and administrative expenses for the fiscal years ended March 31, 2022, 2023 and 2024 were 347,709 million yen, 391,131 million yen and 422,655 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, 2022, 2023 and 2024 were 70,858 million yen, 95,208 million yen and 85,108 million yen, respectively, which included the internal transportation costs of finished goods. |
Financial income and expense
Financial income and expense | 12 Months Ended |
Mar. 31, 2024 | |
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Financial income and expense | 24. Financial income and expense Financial income Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest income Financial assets measured at AC 6,996 22,399 37,580 Dividends Financial assets measured at FVOCI 2,792 3,488 1,138 Gain on revaluation of equity instruments Financial assets measured at FVPL *2 — — 71,385 Other 9,516 5,171 15,494 Total 19,304 31,058 125,597 Financial expenses Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest expense Financial liabilities measured at AC 6,377 16,016 28,163 Other 8,223 10,382 12,833 Foreign exchange loss, net *1 1,612 14,489 6,989 Loss on revaluation of equity instruments Financial assets measured at FVPL *2 66,177 4,623 — Other 21,751 13,441 17,781 Total 104,140 58,951 65,766 *1 Foreign exchange loss, net includes gains or losses from foreign exchange contracts. *2 Shares of Spotify Technology S.A. (“Spotify”) held by Sony are classified as equity securities required to be measured at fair value through profit or loss. The revaluation of the Spotify shares, net of costs to be paid to Sony’s artists and distributed labels, owned as of March 31, 2022, 2023 and 2024 resulted in an unrealized loss of 45,017 million yen (395 million U.S. dollars), an unrealized loss of 7,787 million yen (58 million U.S. dollars), and an unrealized gain of 64,764 million yen (440 million U.S. dollars), respectively. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Income taxes | 25. Income taxes Income (loss) before income taxes and the provision for current and deferred income taxes attributable to such income are as follows: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Income (loss) before income taxes: 1,117,503 1,274,496 1,268,662 Income tax expenses Current 238,602 304,881 271,045 Deferred (9,505 ) (42,158 ) 17,123 Total income tax expense 229,097 262,723 288,168 For the fiscal year ended March 31, 2022, 2023 and 2024 the domestic component s s A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: Fiscal year ended March 31 2022 2023 Restated 2024 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.2 0.2 0.3 Income tax credits (1.9 ) (3.0 ) (3.3 ) Change in statutory tax rate (0.2 ) (0.1 ) 0.1 Change in unrecognized deferred tax assets (3.7 ) (1.0 ) (2.1 ) Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and affiliates 1.0 1.5 0.9 Lower tax rate applied to life and non-life (0.4 ) (0.9 ) (0.4 ) Foreign income tax differential (5.5 ) (6.0 ) (4.9 ) Recording or reversal of liabilities for uncertain tax positions 0.8 (0.3 ) 0.1 Controlled Foreign Company taxation in Japan (1.8 ) (2.0 ) 0.0 Other 0.5 0.7 0.5 Effective income tax rate 20.5 % 20.6 % 22.7 % Sony recognizes deferred tax assets, which include temporary differences, net operating losses and tax credits, to the extent that it is probable that taxable profit will be available against which the assets can be utilized. The realization of deferred tax assets is dependent upon the generation of future taxable income in the relevant tax jurisdiction. The schedules of deferred tax assets and liabilities by major cause of their occurrence are as follows: Yen in millions Fiscal year ended March 31, 2023 Beginning Cumulative Restated Recognized Recognized Changes Recognized Other* Restated Deferred tax assets: Operating loss carryforwards for tax purposes 71,087 — 71,087 (5,756 ) — 10,157 — 5,600 81,088 Defined benefit liabilities 72,565 (3 ) 72,562 5,826 (8,245 ) (28 ) (1,881 ) (1,099 ) 67,135 Amortization including content assets 26,759 — 26,759 (1,675 ) — (25,695 ) — 2,828 2,217 Lease liabilities 96,100 5,330 101,430 12,818 — 221 — 4,378 118,847 Warranty reserves and accrued expenses 141,344 326 141,670 4,070 — 1,599 — 2,643 149,982 Insurance contract liabilities — 179,620 179,620 561,000 (740,620 ) — — — — Inventories 29,546 — 29,546 15,479 — — — (302 ) 44,723 Depreciation 43,189 — 43,189 (3,566 ) — — — 429 40,052 Debt securities measured at FVOCI — — — — 27,581 — — — 27,581 Tax credit carryforwards 38,884 — 38,884 (12,297 ) — 5,792 — 3,845 36,224 Loss allowances 7,748 — 7,748 (1,857 ) — — — 259 6,150 Impairment of investments 9,816 — 9,816 (3,709 ) — — — (55 ) 6,052 Deferred revenue 31,185 — 31,185 22,076 — (2,299 ) — 2,478 53,440 Other 140,594 55,920 196,514 2,361 (2,408 ) 21,427 (985 ) 7,663 224,572 Total deferred tax assets 708,817 241,193 950,010 594,770 (723,692 ) 11,174 (2,866 ) 28,667 858,063 Deferred tax liabilities: Insurance acquisition costs (191,474 ) 191,474 — — — — — — — Insurance contract liabilities (167,337 ) 167,337 — (667,224 ) 457,619 — — 5,886 (203,719 ) Right-of-use (59,566 ) (5,330 ) (64,896 ) (24,637 ) — (208 ) — (6,328 ) (96,069 ) Equity securities measured at FVOCI (15,969 ) — (15,969 ) 923 8,846 — — 1,823 (4,377 ) Equity securities measured at FVPL (53,139 ) — (53,139 ) 31,952 — — — (3,380 ) (24,567 ) Debt securities measured at FVOCI (327,359 ) (3,187 ) (330,546 ) 39,764 291,024 — — (242 ) — Intangible assets acquired through stock exchange offerings (23,949 ) — (23,949 ) — — — — — (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (101,594 ) — (101,594 ) 2,277 — — — (6,639 ) (105,956 ) Undistributed earnings of foreign subsidiaries and affiliates (56,031 ) — (56,031 ) (15,318 ) — — — 1,759 (69,590 ) Investment in M3, Inc. (42,692 ) — (42,692 ) (4,646 ) — — — — (47,338 ) Other (67,610 ) (13,242 ) (80,852 ) 84,297 (52 ) (3,120 ) (159 ) (7,126 ) (7,012 ) Total deferred tax liabilities (1,106,720 ) 337,052 (769,668 ) (552,612 ) 757,437 (3,328 ) (159 ) (14,247 ) (582,577 ) * Other mainly consists of exchange differences on translating foreign operations. Yen in millions Fiscal year ended March 31, 2024 Beginning Recognized Recognized in Changes Recognized Other* Ending Deferred tax assets: Operating loss carryforwards for tax purposes 81,088 (11,765 ) — 460 — 7,758 77,541 Defined benefit liabilities 67,135 16,287 (11,350 ) — (613 ) 4,088 75,547 Amortization including content assets 2,217 14,293 — — — 3,109 19,619 Lease liabilities 118,847 17,154 — — — (271 ) 135,730 Warranty reserves and accrued expenses 149,982 7,918 — — — 9,502 167,402 Inventories 44,723 2,892 — — — 1,192 48,807 Depreciation 40,052 (663 ) — — — 2,214 41,603 Equity securities measured at FVPL — — 17,230 — — 2,010 19,240 Debt securities measured at FVOCI 27,581 74,703 273,954 — — 6,289 382,527 Tax credit carryforwards 36,224 11,698 — 2,991 — 6,733 57,646 Loss allowances 6,150 3,525 — — — 1,066 10,741 Impairment of investments 6,052 2,279 — — — (551 ) 7,780 Deferred revenue 53,440 (11,697 ) — — — 6,711 48,454 Other 224,572 47,828 (598 ) (7,352 ) (1,005 ) 25,836 289,281 Total deferred tax assets 858,063 174,452 279,236 (3,901 ) (1,618 ) 75,686 1,381,918 Deferred tax liabilities: Insurance contract liabilities (203,719 ) (79,827 ) (219,099 ) — — 2,936 (499,709 ) Right-of-use (96,069 ) (16,775 ) — — — (396 ) (113,240 ) Equity securities measured at FVOCI (4,377 ) 4,389 (206 ) — — 194 — Equity securities measured at FVPL (24,567 ) (24,753 ) — — — (3,014 ) (52,334 ) Intangible assets acquired through stock exchange offerings (23,949 ) — — — — — (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (105,956 ) 3,466 — — — (14,501 ) (116,991 ) Undistributed earnings of foreign subsidiaries and affiliates (69,590 ) (6,856 ) — — — (8,505 ) (84,951 ) Investment in M3, Inc. (47,338 ) (5,287 ) — — — — (52,625 ) Other (7,012 ) (65,932 ) 19 (5,295 ) (20 ) (26,753 ) (104,993 ) Total deferred tax liabilities (582,577 ) (191,575 ) (219,286 ) (5,295 ) (20 ) (50,039 ) (1,048,792 ) * Other mainly consists of exchange differences on translating foreign operations. As of March 31, 2023 and 2024, based on the assessment of recoverability of deferred tax assets, Sony continued not to recognize the deferred tax assets at some entities in Japan, Sony Mobile Communications AB in Sweden, Sony Europe B.V. in the United Kingdom, certain subsidiaries in Brazil, and certain subsidiaries in other tax jurisdictions. As of March 31, 2023 and 2024, the deductible temporary differences, operating loss carryforwards and tax credit carryforwards for which no deferred tax asset is recognized are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Deductible temporary differences 126,406 134,602 Operating loss carryforwards 1,384,658 1,424,553 Tax credit carryforwards 18,853 16,869 As of March 31, 2023 and 2024, the expected expiration period of the operating loss carryforwards for which no deferred tax asset is recognized are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Within 5 years 602,799 494,989 Over 5 years to 10 years 250,587 274,044 Over 10 years to 15 years 25,786 28,601 Over 15 years 13,245 15,592 No expiration period 492,241 611,327 Total 1,384,658 1,424,553 As of March 31, 2023 and 2024, the expected expiration period of the tax credit carryforwards for which no deferred tax asset is recognized was mostly within 5 years except for the amount with no expiration period. The amount of tax credit carryforwards with no expiration date as of March 31, 2023 was 1,047 million yen. There were no tax credit carryforwards without an expiration date as of March 31, 2024. Deferred tax liabilities are not recognized on the taxable temporary differences for undistributed earnings of certain foreign subsidiaries and corporate joint ventures which are not expected to be remitted in the foreseeable future. As of March 31, 2023 and 2024, such taxable temporary differences amounted to 560,888 million yen and 1,122,164 million yen, respectively. The tax basis of these undistributed earnings was approximately 8,974 million yen and 17,955 million yen, respectively. In addition, deferred tax liabilities are not recognized on the taxable temporary differences 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 on 116,939 million yen for the pre-owned In addition, the deductible temporary differences arising from the translation adjustments for the foreign operations for which deferred tax assets are not recognized as of March 31, 2023 and 2024 amounted to 181,037 million yen and 275,810 million yen, respectively. The taxable temporary differences arising from the translation adjustments for the foreign operations for which deferred tax liabilities are not recognized as of March 31, 2023 and 2024 amounted to 694,240 million yen and 1,228,503 million yen, respectively. Sony applies the “International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12)” that the IASB issued in May 2023. Sony does not recognize or disclose deferred tax assets and deferred tax liabilities related to taxes arising from the taxation associated with the Pillar Two Model Rules, applying the temporary exemption provisions stipulated by the Amendments to IAS 12. In Japan, a tax reform bill to implement the global minimum tax in accordance with the Pillar Two Model Rules was enacted on March 28, 2023. This new tax reform statute applies to Sony as of April 1, 2024. Sony does not anticipate any significant exposure to corporate income tax arising from the Pillar Two Model Rules. |
Reconciliation of the differenc
Reconciliation of the differences between basic and diluted EPS | 12 Months Ended |
Mar. 31, 2024 | |
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Reconciliation of the differences between basic and diluted EPS | 26. 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, 2022, 2023 and 2024 is as follows: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Net income attributable to Sony Group Corporation’s stockholders 882,178 1,005,277 970,573 Adjustment amount to net income attributable to Sony Group Corporation’s stockholders for diluted EPS computation: Zero coupon convertible bonds 163 51 — Net income attributable to Sony Group Corporation’s stockholders for diluted EPS computation 882,341 1,005,328 970,573 Thousands of shares Fiscal year ended March 31 2022 2023 2024 Weighted-average shares outstanding for basic EPS computation 1,239,299 1,235,701 1,231,242 Effect of dilutive securities: Stock options 5,470 3,617 3,680 Restricted stock units — 29 409 Zero coupon convertible bonds 6,491 2,030 — Weighted-average shares for diluted EPS computation 1,251,260 1,241,377 1,235,331 Yen Fiscal year ended March 31 2022 2023 Restated 2024 Basic EPS 711.84 813.53 788.29 Diluted EPS 705.16 809.85 785.68 Potential shares of common stock which were excluded from the computation of diluted EPS for the fiscal years ended March 31, 2022, 2023 and 2024 were 4,790 thousand shares, 11,223 thousand shares and 6,895 thousand shares, respectively, which consisted of stock options. |
Supplemental cash flow informat
Supplemental cash flow information | 12 Months Ended |
Mar. 31, 2024 | |
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Supplemental cash flow information | 27. Supplemental cash flow information (1) Classification of cash flows in Financial Services segment Sony classifies the cash flows from changes in assets and liabilities associated with the insurance business and banking business, such as investments and advances, deposits from customers, insurance contract liabilities and borrowings/debt, as cash flows from operating activities in the consolidated statements of cash flows because the changes are derived from the principal revenue-producing activities of Sony. (2) Classification of cash flows of content assets Sony classifies the cash flows from the additions and disposals of content assets as cash flows from operating activities in the consolidated statements of cash flows because the additions and disposals of content assets are derived from the principal revenue-producing activities of Sony. (3) Interest and dividends Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest received Financial services revenue 208,170 224,137 244,292 Financial income 6,988 20,872 36,295 Dividends received Financial services revenue 27,075 23,409 52,760 Financial income 2,800 3,488 1,138 Interest paid Financial services expenses 6,607 27,352 74,857 Financial expenses 8,843 11,663 22,667 The above are items presented in the consolidated statements of income, which include cash flows for interest and dividends. Sony classifies the cash flows from interest and dividends of the above as cash flows from operating activities in the consolidated statements of cash flows. (4) Non-cash Non-cash investing and financing activities included an increase in ROU assets as a result of entering into lease contracts during the fiscal years ended March 31, 2022, 2023 and 2024, and the conversion of convertible bonds during the fiscal years ended March 31, 2022 and 2023. Refer to (5) Reconciliation of liabilities arising from financing activities for more details. In addition, during the fiscal year ended March 31, 2022, a portion of the consideration received from the transfer of certain operations of Game Show Network, LLC was in the form of stock. Refer to Note 31 for more details. (5) Reconciliation of liabilities arising from financing activities Yen in millions Short-term Long-term Balance as of April 1, 2021 52,537 969,044 Net cash flows from financing activities 408 (163,104 ) Acquisitions through business combinations — 8,346 Non-cash Conversion of convertible bonds — (14,597 ) Obtaining assets by entering into lease contracts — 121,937 Translation adjustment 1,659 35,652 Other 1,487 (6,045 ) Total changes 3,554 (17,811 ) Balance as of March 31, 2022 56,091 951,233 Net cash flows from financing activities 32,391 229,578 Acquisitions through business combinations — 32,009 Non-cash Conversion of convertible bonds — (26,563 ) Obtaining assets by entering into lease contracts — 127,322 Translation adjustment 4,533 22,684 Other (369 ) (13,936 ) Total changes 36,555 371,094 Balance as of March 31, 2023 92,646 1,322,327 Net cash flows from financing activities (18,370 ) 97,026 Acquisitions through business combinations 796 853 Non-cash Obtaining assets by entering into lease contracts — 101,039 Translation adjustment 12,097 76,168 Other 1,133 (11,400 ) Total changes (4,344 ) 263,686 Balance as of March 31, 2024 88,302 1,586,013 The amount of short-term borrowings and long-term debt associated with the insurance business and banking business operations, which are classified as cash flows from operating activities in the consolidated statements of cash flows, is excluded from the amount above. (6) Components of cash and cash equivalents Yen in millions March 31 2022 2023 2024 Cash and demand deposits 1,824,912 1,227,541 1,535,476 Time deposits with original maturities of three months or less 72,270 76,452 63,169 Money market funds 71,554 116,607 219,559 Call loans 80,900 60,300 88,909 Total 2,049,636 1,480,900 1,907,113 Cash and demand deposits, time deposits with original maturities of three months or less and call loans are classified as financial assets required to be measured at amortized cost, whose carrying amounts approximate their fair values mainly due to their short-term nature. Money market funds are short-term and highly liquid investments with insignificant risk of changes in value. Money market funds are classified as financial assets required to be measured at fair value through profit or loss and classified within Level 1 of the fair value hierarchy. (7) Payments for purchases of businesses and other During the fiscal year ended March 31, 2024, Sony newly obtained an interest in a company which owns certain music assets in the Music segment for consideration of 90,968 million yen, which is reflected in cash flows from investing activities as “Payments for purchases of businesses and other.” This transaction is accounted for as an acquisition of a group of assets that does not constitute a business. As a result of the transaction, Sony consolidated the company and recognized 182,689 million yen of content assets (music catalogs) as well as 90,968 million yen of noncontrolling interests. |
Structured entities
Structured entities | 12 Months Ended |
Mar. 31, 2024 | |
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Structured entities | 28. Structured entities Sony has, from time to time, entered into various arrangements with structured entities. (1) Consolidated structured entities Sony consolidates investment funds as structured entities in the Financial Services segment. The investment funds are designed so that voting or similar rights are not the dominant factor in deciding who controls these entities, but it is determined that Sony has control over these structured entities. Sony has not provided and does not intend to provide any significant financial or other support to any of the consolidated structured entities without contractual obligations to the investment funds. The assets and liabilities of structured entities that are consolidated in the Financial Services segment are limited in their intended use by contractual arrangements. As of March 31, 2023 and 2024, the total assets of these structured entities are 2,486,836 million yen and 3,653,520 million yen, respectively. Sony also consolidates several structured entities in the Music and Pictures segment. Sony has not provided and does not intend to provide any significant financial or other support to these structured entities without contractual obligation. (2) Unconsolidated structured entities Certain trade receivable sales programs also involve structured entities. These structured entities are all special purpose entities associated with the sponsor banks. Based on a qualitative assessment, Sony 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 structured entities. Sony’s maximum exposure to losses from these structured entities is considered insignificant. In the Financial Services segment, Sony enters into securitization transactions for certain housing loans, involving unconsolidated structured entities. Sony derecognizes a financial asset when the contractual right to receive the cash flows from the financial asset is transferred, or when Sony retains the contractual right to receive the cash flows from the financial asset, but assumes a contractual obligation to pay the cash flows without reinvestment or material delay to other recipients in an arrangement, and substantially all the risks and rewards of ownership of the financial asset are transferred to another entity. Since the above securitization transactions do not meet the requirements for derecognition of financial assets, such transferred assets are not derecognized. Sony recorded 168,173 million yen and 164,799 million yen of transferred assets that do not meet the requirement for derecognition of financial assets included in investments and advances in the Financial Services segment as of March 31, 2023 and 2024, respectively. As of March 31, 2023 and 2024, the liabilities recorded from these securitization transactions were 169,500 million yen and 166,024 million yen, respectively, which are included in the current portion of long-term debt and long-term debt. The liabilities will be settled when the payment for the transferred assets is executed and until this time, Sony is unable to utilize the transferred assets. The transferee of the transferred assets has recourse only to the transferred asset, and as of March 31, 2023 and 2024, the fair value of the transferred assets are 170,695 million yen and 167,071 million yen, respectively and the associated liabilities are 169,931 million yen and 166,321 million yen, respectively. In addition to the above, in the Financial Services segment, Sony makes investments in structured entities. Sony’s investments in such structured entities include securitized products, foreign corporate bonds and other investments. The following tables present the carrying amount of the investments of unconsolidated structured entities, the presentation in the consolidated statements of financial position, and the maximum exposure to loss associated with these investments as of March 31, 2023 and 2024. 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 structured entities in which Sony is involved are limited to the amount recorded in the consolidated statements of financial position and the amount of commitments. Yen in millions March 31, 2023 Presentation in the consolidated statements of financial position Maximum exposure Investments and (Current assets) Investments and (Non-current assets) Other financial assets (Current assets) Securitized products — 401,642 — 401,642 Foreign corporate bonds *1 20,806 186,878 — 207,684 Other investments *2 — 286,066 25,464 332,076 Total 20,806 874,586 25,464 941,402 Yen in millions March 31, 2024 Presentation in the consolidated statements of financial position Maximum exposure Investments and (Current assets) Investments and (Non-current assets) Other financial assets (Current assets) Securitized products — 461,309 — 461,309 Foreign corporate bonds *1 11,365 206,570 — 217,935 Other investments *2 — 456,705 24,836 503,683 Total 11,365 1,124,584 24,836 1,182,927 *1 Foreign corporate bonds primarily include repackaged bonds. *2 Other investments primarily include investment funds. |
Subsidiaries
Subsidiaries | 12 Months Ended |
Mar. 31, 2024 | |
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Subsidiaries | 29. Subsidiaries The following table sets forth the major consolidated subsidiaries owned, directly or indirectly, by Sony Group Corporation. Name of company Country of incorporation /residence (As of March 31, 2024) Percentage owned Sony Interactive Entertainment Inc. Japan 100.0 Sony Music Entertainment (Japan) Inc. Japan 100.0 Sony Corporation Japan 100.0 Sony Global Manufacturing & Operations Corporation Japan 100.0 Sony Network Communications Inc. Japan 100.0 Sony Marketing Inc. Japan 100.0 Sony Semiconductor Solutions Corporation Japan 100.0 Sony Semiconductor Manufacturing Corporation Japan 100.0 Sony Storage Media Solutions Corporation Japan 100.0 Sony Financial Group Inc. Japan 100.0 Sony Life Insurance Co., Ltd. Japan 100.0 Sony Bank Inc. Japan 100.0 Sony Assurance Inc. Japan 100.0 Sony Corporation of America U.S.A. 100.0 Sony Interactive Entertainment LLC U.S.A. 100.0 Sony Music Entertainment U.S.A. 100.0 Sony Music Publishing LLC U.S.A. 100.0 Sony Pictures Entertainment Inc. U.S.A. 100.0 Sony Electronics Inc. U.S.A. 100.0 Sony Interactive Entertainment Europe Ltd. U.K. 100.0 Sony Europe B.V. U.K. 100.0 Sony Global Treasury Services Plc U.K. 100.0 Sony Overseas Holding B.V. Netherlands 100.0 Sony (China) Limited China 100.0 Sony EMCS (Malaysia) Sdn. Bhd. Malaysia 100.0 Sony Electronics (Singapore) Pte. Ltd. Singapore 100.0 |
Acquisitions
Acquisitions | 12 Months Ended |
Mar. 31, 2024 | |
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Acquisitions | 30. Acquisitions (1) Fiscal year ended March 31, 2022 Acquisition of Ellation Holdings, Inc. On August 9, 2021, Sony Pictures Entertainment Inc. (“SPE”), a wholly-owned subsidiary of Sony, through Funimation Global Group, LLC (“Funimation”), acquired 100% of the equity interest in Ellation Holdings, Inc. (“Ellation”), a subsidiary of AT&T Inc., which operates the anime business “Crunchyroll.” Funimation is a joint venture between SPE and Aniplex Inc., a subsidiary of Sony Music Entertainment (Japan) Inc. The consideration for the acquisition of 135,938 million yen (1,237 million U.S. dollars) was paid in cash. As a result of the acquisition, Ellation has become a wholly-owned subsidiary of Sony. On February 24, 2022, Funimation changed its company name to Crunchyroll, LLC. Crunchyroll is a DTC service, connecting anime and manga fans across more than 200 countries and territories. Crunchyroll provides services including subscription video-on-demand, video-on-demand, fan-centric As a result of the acquisition, Sony consolidated Ellation by using the acquisition method of accounting and recorded the fair value of the identifiable assets acquired, liabilities assumed and residual goodwill of Ellation. The following table summarizes the final fair values assigned to the assets and liabilities of Ellation that were recorded in the Pictures segment. Yen in millions Cash and cash equivalents 8,379 Trade and other receivables, and contract assets 3,714 Inventories 3,295 Right-of-use 4,962 Goodwill 81,250 Content assets 36,266 Other intangible assets 35,697 Other 2,512 Total assets 176,075 Trade and other payables 17,365 Other current liabilities 7,723 Long-term debt 4,386 Deferred tax liabilities 9,408 Other 659 Total liabilities 39,541 Content assets and other intangible assets mainly consist of license agreements and customer relationships. 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 the acquisition is included in the Pictures segment. Revenue and net income attributable to Ellation since the date of acquisition included in Sony’s consolidated statements of income for the fiscal year ended March 31, 2022 and pro forma results of operations have not been presented because the effect of the acquisition was not material. (2) Fiscal year ended March 31, 2023 Acquisition of Bungie, Inc. On July 15, 2022, Sony Interactive Entertainment LLC (“SIE”), a wholly-owned subsidiary of Sony, completed the acquisition of 100% of the shares of Bungie, Inc. (“Bungie”), an independent videogame developer in the United States. As a result of this acquisition, Bungie has become a wholly-owned subsidiary of Sony. This acquisition gives SIE access to Bungie’s approach to live game services and technology expertise. The total consideration of this acquisition, which was determined after customary working capital and other adjustments, was 510,459 million yen (3,701 million U.S. dollars), inclusive of the purchase price and committed employee incentives. Of the total consideration, 347,768 million yen (2,522 million U.S. dollars) was allocated to the purchase consideration of this acquisition, and the remaining 162,691 million yen (1,179 million U.S. dollars) was mainly allocated to deferred payments to employee shareholders that are conditional upon their continuous employment, and other retention incentives. The deferred payments and other retention incentives will be expensed over the required post-acquisition service periods. The fair value of the purchase consideration of this acquisition as of the acquisition date was 333,859 million yen (2,421 million U.S. dollars) which consisted of upfront cash consideration of 207,511 million yen (1,505 million U.S. dollars), deferred consideration of 84,410 million yen (612 million U.S. dollars), and contingent consideration of 41,938 million yen (304 million U.S. dollars) that is subject to employee shareholders’ continuous employment and represents the vested portion of the total vesting term of replacement awards that existed as of the acquisition date. Deferred consideration and contingent consideration are included in other financial liabilities (current and non-current) Sony’s consolidated statements of income for the fiscal year ended March 31, 2023 include net loss after income taxes of 47,420 million yen (338 million U.S. dollars), attributable to Bungie since the acquisition date, including the deferred payments and other retention incentives arising out of this acquisition and amortization of intangible assets recognized as of the acquisition date. Revenue after elimination of intercompany transactions attributable to Bungie since the acquisition date for the fiscal year ended March 31, 2023 has not been presented because the revenue was not material. Sony consolidated Bungie by using the acquisition method of accounting and recorded the fair value of the identifiable assets acquired, liabilities assumed and residual goodwill of Bungie. The following table summarizes the final fair values assigned to the assets and liabilities of Bungie that were recorded in the G&NS segment. Yen in millions Cash and cash equivalents 37,800 Trade and other receivables, and contract assets 5,093 Other current assets 3,412 Property, plant and equipment 7,481 Right-of-use 15,540 Goodwill 193,801 Content assets 45,512 Other intangible assets 66,257 Deferred tax assets 7,297 Other 3,564 Total assets 385,757 Trade and other payables 3,060 Other current liabilities 12,195 Long-term debt 30,944 Other 5,699 Total liabilities 51,898 Content assets and other intangible assets mainly consist of license agreements and software. Goodwill mainly represents future growth from new revenue streams and synergies with existing Sony businesses and is not deductible for tax purposes. Goodwill recorded in connection with the acquisition is included in the G&NS segment. Pro forma results of operations have not been presented because the effect of the acquisition is not material. (3) Other acquisitions During the fiscal year ended March 31, 2022, Sony completed other acquisitions for a total consideration of 175,878 million yen which was paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 116,394 million yen of goodwill and 64,348 million yen of intangible assets. During the fiscal year ended March 31, 2023, Sony completed other acquisitions for a total consideration of 92,743 million yen which was paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 80,698 million yen of goodwill and 29,154 million yen of intangible assets. During the fiscal year ended March 31, 2024, Sony completed other acquisitions for a total consideration of 111,669 million yen which was paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 70,791 million yen of goodwill and 69,294 million yen of intangible assets. No significant amounts were allocated to in-process |
Divestiture
Divestiture | 12 Months Ended |
Mar. 31, 2024 | |
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Divestiture | 31. Divestiture Fiscal year ended March 31, 2022 Transfer of certain operations of Game Show Network, LLC On December 6, 2021, Sony completed the transfer of GSN Games, a division of Game Show Network, LLC, a wholly-owned subsidiary in the Pictures segment, to Scopely, Inc. (“Scopely”). The consideration for the transaction was 115,054 million yen (1,011 million U.S. dollars), of which Sony received 58,131 million yen (511 million U.S. dollars) in cash and 56,923 million yen (500 million U.S. dollars) in preferred stock of Scopely. This preferred stock is measured at fair value as an equity instrument and subsequent changes in the fair value will be recognized in other comprehensive income. As a result of the completion of this transfer, Sony recognized a gain of 70,020 million yen (615 million U.S. dollars) within other operating (income) expense, net in the consolidated statements of income for the fiscal year ended March 31, 2022. |
Related party transactions
Related party transactions | 12 Months Ended |
Mar. 31, 2024 | |
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Related party transactions | 32. Related party transactions (1) Account balances and transactions with associates and joint ventures accounted for under the equity method Primary account balances and transactions with associates and joint ventures accounted for under the equity method are as follows: Yen in millions March 31 2023 2024 Trade and other accounts receivable Associates 7,779 19,357 Joint ventures 6,326 3,913 Total 14,105 23,270 Other current assets Associates 7,747 8,195 Joint ventures — — Total 7,747 8,195 Accounts payable, trade Associates 1,425 997 Joint ventures 228 265 Total 1,653 1,262 Short-term borrowings Associates 3,124 3,070 Joint ventures 25,218 26,384 Total 28,342 29,454 Lease liabilities and other Associates 74,955 78,102 Joint ventures — — Total 74,955 78,102 Accounts payable for property, plant and equipment Associates 12,050 16 Joint ventures — — Total 12,050 16 Yen in millions Fiscal year ended March 31 2022 2023 2024 Sales Associates 20,385 15,040 14,215 Joint ventures 27,374 30,220 34,199 Total 47,759 45,260 48,414 Purchases Associates 3,271 4,450 6,385 Joint ventures 785 649 723 Total 4,056 5,099 7,108 Lease payments and other Associates 11,180 13,720 15,467 Joint ventures — — — Total 11,180 13,720 15,467 Payments for property, plant and equipment Associates 12,052 20,553 16 Joint ventures — — — Total 12,052 20,553 16 Sony has agreements with shareholders of associates to make cash investments in the associates in the future. The investment commitments as of March 31, 2023 and 2024, amounted to 39,047 million yen and 5,905 million yen, respectively. (2) Compensation for key management personnel Compensation for key management personnel for the fiscal years ended March 31, 2022, 2023 and 2024 is presented as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Short-term employee benefits 1,480 1,831 1,660 Stock-based compensation 1,597 1,928 2,917 Total 3,077 3,759 4,577 Compensation for key management personnel is the remuneration for Directors (including outside Directors) and Corporate Executive Officers of Sony Group Corporation. |
Purchase commitments, contingen
Purchase commitments, contingent liabilities and other | 12 Months Ended |
Mar. 31, 2024 | |
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Purchase commitments, contingent liabilities and other | 33. Purchase commitments, contingent liabilities and other (1) Loan commitments Subsidiaries in the Financial Services segment have lines of credit in accordance with loan agreements with their customers. As of March 31, 2023 and 2024, the total unused portion of the lines of credit extended under these contracts was 35,831 million yen and 50,965 million yen, respectively. (2) Purchase commitments Purchase commitments for property, plant and equipment and intangible assets (excluding content assets) as of March 31, 2023 and 2024 amounted to 292,975 million yen and 160,919 million yen, respectively. In addition to the above, Sony has purchase commitments for goods and services. There are no purchase commitments that are individually material to Sony, except for the following. Purchase commitments in the Pictures segment as of March 31, 2023 and 2024, amounted to 137,291 million yen and 188,592 million yen, respectively. The major components of these are 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 from the end of each period. Purchase commitments in the Music segment as of March 31, 2023 and 2024 amounted to 203,167 million yen and 272,297 million yen, respectively. The major components of these are contracts with recording artists, songwriters and production and sales companies of music software and videos for the future production, distribution and/or licensing of music products. These contracts cover various periods mainly within five years from the end of each period. Purchase commitments in the G&NS segment as of March 31, 2023 and 2024 amounted to 38,116 million yen and 33,436 million yen, respectively. The major components of these are long-term contracts for the development, distribution and publishing of game software. These contracts cover various periods mainly within five years from the end of each period. Sony has entered into purchase contracts for materials. As of March 31, 2023 and 2024, Sony has committed to make payments of 288,260 million yen and 211,930 million yen, respectively, under such contracts. (3) Litigation Sony Group Corporation and certain of its subsidiaries are defendants or otherwise involved in 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, 2023 and 2024 amounted to 458 million yen and 410 million yen, respectively. |
Subsequent events
Subsequent events | 12 Months Ended |
Mar. 31, 2024 | |
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Subsequent events | 34. Subsequent events (Cancellation of shares of its common stock) Based on the resolution of Sony Group Corporation’s Representative Corporate Executive Officer delegated by the Board of Directors and the Companies Act of Japan, Sony Group Corporation canceled shares of its common stock held as treasury stock as follows. 1. Number of shares canceled: 12,612,300 shares 2. Cancellation date: April 10, 2024 (Setting of parameters for repurchase of shares of its own common stock) Sony Group Corporation approved the setting of the following parameters for repurchase of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation at the meeting of its Board of Directors held on May 14, 2024. 1. Total number of shares for repurchase: 30 million shares (maximum) 2. Total purchase price for repurchase of shares: 250 billion yen (maximum) 3. Period of repurchase: May 15, 2024 to May 14, 2025 * The total number of shares for repurchase shown in 1. above after the effective date of the stock split (October 1, 2024) described below will be 150 million shares (maximum). (Stock Split) Sony Group Corporation approved the implementation of a stock split of its common stock as follows at the meeting of its Board of Directors held on May 14, 2024. 1. Method of Stock Split Each share of Sony Group Corporation’s common stock owned by shareholders whose names appear on the register of shareholders as of the close of the record date of September 30, 2024, will be split into five (5) shares per share. 2. Number of shares to be increased by Stock Split (i) Total number of issued shares before stock split: 1,248,619,589 shares (ii) Number of shares to be increased by stock split: 4,994,478,356 shares (iii) Total number of issued shares following stock split: 6,243,097,945 shares (iv) Total number of authorized shares following stock split: 18,000,000,000 shares * Total number of issued shares shown above is based on the total number of issued shares as of April 30, 2024, and may increase by the record date of the stock split due to the exercise of stock acquisition rights. 3. Schedule of Stock Split (i) Public notice of record date: September 13, 2024 (ii) Record date: September 30, 2024 (iii) Effective date: October 1, 2024 4. Partial Amendment to Articles of Incorporation Sony Group Corporation plans to amend its Articles of Incorporation to increase the total number of shares authorized to be issued by Sony Group Corporation from 3.6 billion to 18.0 billion, in accordance with Article 184, Paragraph 2 of the Companies Act of Japan, effective on October 1, 2024, which is the effective date of the stock split. 5. Impact on per share information Per share information assuming that the stock split was implemented at the beginning of the fiscal year ended March 31, 2022, would be as follows. Yen Fiscal year ended March 31 2022 2023 2024 Basic net income attributable to Sony Group Corporation’s stockholders per share 142.37 162.71 157.66 Diluted net income attributable to Sony Group Corporation’s stockholders per share 141.03 161.97 157.14 |
Summary of material accountin_2
Summary of material accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2024 | |
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Basis of consolidation | (1) Basis of consolidation - i) Subsidiaries A subsidiary is an entity controlled by Sony Group Corporation. Control is obtained when Sony Group Corporation is exposed, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements of Sony from the date on which control is obtained until the date on which control is lost. All intercompany transactions and balances are eliminated in the preparation of the consolidated financial statements. If any accounting policies applied by a subsidiary differ from those applied by Sony, adjustments are made to the financial statements of the subsidiary as necessary. Any changes in ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The difference between the amount by which the non-controlling ii) Associates and joint ventures An associate is an entity over which Sony has significant influence, but does not have control or joint control, in terms of financial and operating policies. A joint venture is an investee whereby two or more parties including Sony have the rights to the net assets of the investee in accordance with the terms of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in associates and joint ventures are accounted for using the equity method from the date on which significant influence or joint control is obtained until the date on which significant influence or joint control is lost. Under the equity method, investments in associates and joint ventures are recognized at cost, adjusted for Sony’s share of the profit or loss and other comprehensive income of the associates and joint ventures from the date on which Sony obtains significant influence or joint control to the date on which Sony loses such significant influence or joint control. Sony recognizes its share of profit or loss of the investees, net of income taxes after the elimination of unrealized intercompany profits, in the consolidated operating income (loss) to the extent of Sony’s interest in these entities. For investments accounted for using the equity method, the carrying amount of each investment is tested for impairment as a single asset, when there is objective evidence that the investments may be impaired. If any accounting policies applied by an associate or a joint venture differ from those applied by Sony, adjustments are made to the financial statements of the associate or the joint venture as necessary. When an investment ceases to be an associate or a joint venture and the use of the equity method is discontinued, any gain or loss arising from discontinuation of the equity method is recognized in profit or loss. iii) Joint operations A joint operation is a joint arrangement whereby two or more parties including Sony have the rights to the assets, and obligations for the liabilities, relating to the investee in accordance with the terms of the joint arrangement. Sony recognizes its share of the assets, liabilities, revenue and expenses related to joint operations. iv) Structured entities A structured entity is an entity designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. Sony has control and, therefore, consolidates a structured entity when Sony has exposure or rights to variable returns and has the ability to use its power over the structured entity to affect returns. |
Business combinations | (2) Business combinations - Sony recognizes identifiable assets acquired and the liabilities assumed of an acquiree at their fair values at the acquisition date with limited exceptions. Sony recognizes goodwill when the aggregate of the consideration transferred in a business combination, the amount of any non-controlling Non-controlling non-controlling Acquisition-related costs are recognized as expenses in the period they are incurred. |
Foreign currency translation | (3) Foreign currency translation - i) Foreign currency transactions Foreign currency transactions are translated at the exchange rates prevailing at the transaction date or rates that approximate such rates. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate at the end of the period. Foreign exchange gains and losses resulting from translation and settlement are generally recognized in profit or loss. They are deferred in other comprehensive income if they relate to qualifying cash flow hedges. ii) Foreign operations Assets and liabilities of foreign operations such as overseas subsidiaries and associates are translated using the exchange rates at the end of the period, and revenue and expense items are translated using the average exchange rates for the period unless the exchange rates fluctuate significantly. Exchange differences arising from the translation are recognized in other comprehensive income. On the disposal of a foreign operation, the cumulative amount of exchange differences relating to that foreign operation is reclassified to profit or loss. |
Cash and cash equivalents | (4) Cash and cash equivalents - 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 which are subject to an insignificant risk of changes in value. |
Financial instruments | (5) Financial instruments - Sony recognizes a financial instrument as a financial asset or a financial liability when Sony becomes party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Except for financial assets and financial liabilities measured at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issuance of the financial asset or financial liability are added to the fair value of financial assets or subtracted from the fair value of financial liabilities at initial recognition. i) Non-derivative a. Classification and measurement Non-derivative Financial assets measured at amortized cost Sony classifies a financial asset as measured at amortized cost if the financial asset is held within a business model whose objective is to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The financial asset is measured at amortized cost by using the effective interest method after initial recognition. On derecognition of a financial asset measured at amortized cost, the difference between the carrying amount and the consideration received or receivable is recognized in profit or loss. Debt instruments measured at fair value through other comprehensive income A debt instrument is classified as a financial asset measured at fair value through other comprehensive income if the debt instrument is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial asset and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Changes in the fair value of the financial asset after initial recognition, except for impairment gains or losses and foreign exchange gains or losses, are recognized in other comprehensive income. Interest income from these financial assets is recognized in profit or loss using the effective interest method. On derecognition of a debt instrument measured at fair value through other comprehensive income, the cumulative amount previously recognized in other comprehensive income is reclassified to profit or loss. In the life insurance business, the financial assets are held mainly from the perspective of asset-liability management (“ALM”). The objective of holding financial assets in the life insurance business is to match the interest rate sensitivity (duration) of financial assets and insurance contract liabilities as much as possible, in order to ensure sufficient cash flows are available to settle insurance claims when they come due. Sony manages these assets as one portfolio, based on the overall objective of managing duration and liquidity needs in a capital-efficient manner. While some assets within the portfolio may be held for a longer period of time, Sony considers, because of its overall objective for these assets, that all the financial assets are held within one business model whose objective is achieved by both collecting cash flows and selling financial assets. Equity instruments measured at fair value through other comprehensive income For investments in equity instruments which are not held for trading, Sony may make an irrevocable election at initial recognition to present subsequent changes in fair value of the investments in other comprehensive income. These financial assets are measured at fair value and subsequent changes in the fair value are recognized in other comprehensive income. Dividends from financial assets are recognized in profit or loss, and the cumulative amount recognized in other comprehensive income is transferred to retained earnings upon derecognition. Financial assets measured at fair value through profit or loss Financial assets other than those measured at amortized cost or fair value through other comprehensive income are classified as financial assets measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss include financial assets held for trading. In the life insurance business, investments held for variable life insurance and individual variable annuity contracts mainly consist of equity securities, debt securities and investment funds, which are measured at fair value through profit or loss. For certain financial assets that would not normally be measured at fair value through profit or loss, Sony may, at initial recognition, choose the irrevocable option to measure such financial assets at fair value through profit or loss in order to eliminate or significantly reduce an accounting mismatch. In the life insurance business, Sony mitigates accounting mismatches by designating certain debt securities to be measured at fair value through profit or loss, consistent with insurance finance income or expenses incurred from certain variable life insurance and individual variable annuity contracts after applying IFRS 17. In the banking business, in relation to some fixed-rate debt securities, Sony utilizes derivatives to hedge the risk arising from the changes in the fair value of the debt securities due to unfavorable fluctuations of interest rates, and mitigates accounting mismatches by designating the debt securities to be measured at fair value through profit or loss. b. Derecognition Sony derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or when Sony transfers the contractual rights to receive the cash flows of the financial asset and transfers substantially all of the risks and rewards of the financial asset. c. Impairment Sony estimates expected credit losses and recognizes loss allowances for financial assets measured at amortized cost and debt instruments measured at fair value through other comprehensive income. At each reporting date, Sony measures the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial recognition. If, at the reporting date, the credit risk on a financial instrument has not increased significantly since initial recognition, Sony measures the loss allowance for that financial instrument at an amount equal to 12-month Sony measures the expected credit losses of a financial asset in a way that reflects an unbiased and probability-weighted amount incorporating the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. However, for trade and other receivables, and contract assets including non-current losses irrespective of the change of credit risk on a collective basis or an individual basis incorporating factors such as the past-due Sony determines a financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. The criteria that Sony uses to determine that a financial asset is credit-impaired include a default or delinquency of more than 90 days past due in interest or principal payments. Sony writes off the gross carrying amount of a financial asset when it cannot reasonably expect to recover all or part of the asset. Debt securities and housing loans in the Financial Services segment The expected credit losses for debt securities and housing loans in the Financial Services segment are the product of the probability of default (“PD”), loss given default (“LGD”) and exposure at default (“EAD”), by leveraging the Basel III regulatory framework or based on the external information published by major credit rating agencies. Forward-looking economic information is also included in determining the PD. Assessments on significant increases in credit risk are performed at the reporting date by comparing the risk of default occurring with that at initial recognition. Sony recognizes and measures the expected credit losses on a collective basis or an individual basis using reasonable and supportable information that is available without undue cost or effort, such as asset type, credit ratings, collateral collectability, past-due In addition, Sony has applied the low credit risk exemption for certain debt securities rated “investment grade” by major credit rating agencies at the reporting date. For such instruments, Sony assumes that the credit risk has not increased significantly since initial recognition. If contractual terms of a loan have been modified, it is necessary to recalculate the gross carrying amount of that loan by using the original effective interest rate and recognize a modification gain or loss in profit or loss. ii) Non-derivative Sony classifies non-derivative Sony derecognizes a financial liability when it is extinguished, meaning when the obligation specified in the contract is discharged, cancelled or expired. iii) Derivative financial instruments and hedge accounting All derivatives are recognized as either assets or liabilities in the consolidated statements of financial position at fair value. Changes in the fair value of derivative financial instruments are either recognized periodically through profit or loss or 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. Derivative financial instruments held by Sony are accounted for as described below. Cash flow hedges Changes in the fair value of derivatives that are designated and determined to be effective as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified to profit or loss when the hedged transaction affects profit or loss. Changes in the fair value of the ineffective portion are immediately recognized in profit or loss. Derivatives not designated as hedges Changes in the fair value of derivatives not designated as hedges are immediately recognized in profit or loss. Assessment of hedge effectiveness 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 cash flow hedges to specific assets or liabilities in the consolidated statements of financial position or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are designated as hedges have an economic relationship with the hedged item in offsetting changes in fair value or cash flows of hedged items. The effect of credit risk does not dominate the value changes that result from the underlying economic relationship. In addition, the hedge ratio of the hedging relationship is designed to be the same as that resulting from the quantity of the hedged item that Sony actually hedges and the quantity of the hedging instrument that Sony actually uses to hedge that quantity of the hedged item. When it is determined that a derivative no longer has an economic relationship with the hedged item, Sony discontinues hedge accounting. iv) Offsetting a financial asset and a financial liability Sony offsets a financial asset and a financial liability and presents the net amount in the consolidated statements of financial position when Sony currently has a legally enforceable right to set off the recognized amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. |
Inventories | (6) Inventories - Inventories are measured at the lower of cost or net realizable value. The cost of inventories is determined on the “ ” |
Property, plant and equipment and depreciation | (7) Property, plant and equipment and depreciation - Sony has adopted the cost model for the measurement of property, plant and equipment and presents an item of property, plant and equipment at its cost less any accumulated depreciation and any accumulated impairment losses. The cost of an item of property, plant and equipment includes any costs directly attributable to the acquisition of the asset as well as costs of its dismantlement, removal or restoration. Property, plant and equipment are depreciated on a straight-line basis over their useful lives (depreciation period ranging from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment). Sony reviews the residual values and the useful lives at each fiscal year-end, |
Leases | (8) 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 an identified asset for a period of time in exchange for consideration. Assets and liabilities recognized from leases are included in right-of-use ROU assets represent Sony’s right to use an underlying asset for the lease term and lease liabilities represent Sony’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets also include any lease payments and initial direct costs incurred on or before the commencement date and exclude lease incentives. In determining the present value of lease payments, Sony generally uses its incremental borrowing rate, as the implicit rate is not available for most of its leases. Sony determines its incremental borrowing rate based on the estimated rate of interest for collateralized borrowings, taking into account the lease term and the economic conditions of each country or region at commencement date. The lease terms may include options to extend or terminate the lease when it is reasonably certain that Sony will exercise that option. If the lease transfers ownership of the underlying asset to the lessee by the end of the lease term or the purchase option is reasonably certain to be exercised, Sony depreciates the ROU assets from the commencement date to the end of the useful life of the underlying assets. Otherwise, Sony depreciates the ROU assets from the commencement date to the earlier of the end of the useful life of the ROU assets or the end of the lease term. Sony accounts for the lease and non-lease |
Intangible assets and amortization, including content assets | (9) Intangible assets and amortization, including content assets - Intangible assets are measured using the cost model and stated at cost less accumulated amortization and impairment losses. Intangible assets acquired separately are initially recognized at cost. Intangible assets with finite useful lives mainly consist of patent rights, know-how, know-how, Amortization of intangible assets is included in cost of sales and selling, general and administrative expenses in the consolidated statements of income. Certain intangible assets are assessed to have indefinite lives because there is no foreseeable limit to the period over which such assets are expected to generate net cash flows for Sony. Film costs, broadcasting rights, music catalogs, artist contracts, music distribution rights and game content are collectively classified and presented as content assets in the consolidated statements of financial position. Film costs include direct production costs, production overhead, and costs for acquisition and distribution rights for both motion picture and television productions. Broadcasting rights, consisting of acquired programming to be aired on Sony’s television networks and DTC streaming services, are recognized when the license period begins and the program is available for use. Music catalogs are exclusive rights to the recorded music master or music copyrights, which consist of melodies and lyrics of songs, that can be exploited and marketed in various markets. Artist contracts are contracts with recorded music artists or songwriters that provide Sony with exclusive rights to musical works. Music distribution rights are agreements to distribute music content owned by third parties. Game content includes internally developed content, content developed through a third-party arrangement where Sony owns the rights to the content, content acquired externally through contracts with third parties, and agreements to distribute game content owned by third parties. |
Impairment of non-financial assets | (10) Impairment of non-financial Sony reviews the recoverability of its non-financial A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Goodwill is allocated to each CGU or group of CGUs that is expected to benefit from the synergies of a business combination. A CGU or group of CGUs to which goodwill is allocated is not larger than an operating segment. The recoverable amount of an asset, a CGU or group of CGUs is the higher of its value in use and fair value less costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax mid-range If the recoverable amount is determined to be less than the carrying amount of a CGU or group of CGUs, an impairment loss would be recognized equal to the amount by which the carrying amount exceeds the recoverable amount. Such impairment losses are recognized by first reducing the carrying amount of any allocated goodwill and then are allocated to the other assets of the CGU on a pro rata basis of the carrying amount of each asset in the CGU. Impairment losses except for content assets are included in other operating (income) expense, net, and impairment losses for content assets are included in cost of sales in the consolidated statements of income. Assets other than goodwill are reviewed to assess whether there is any indication that an impairment loss recognized in prior periods may no longer exist or may have decreased. If any such indication exists, the recoverable amount of the asset is determined and a reversal of an impairment loss is recognized when the recoverable amount of the asset exceeds the carrying amount. Any increase in the carrying amount of an asset attributable to the reversal of an impairment loss does not exceed the carrying amount of the asset, net of depreciation and amortization, which would have been determined if an impairment loss had never been recognized for the asset in prior periods. |
Insurance contract liabilities | (11) Insurance contract liabilities - i) Definition and classification of insurance contracts Sony defines insurance contracts as the contracts under which Sony accepts significant insurance risk by agreeing to compensate the policyholder if a specified uncertain future event adversely affects the policyholder. In making this assessment, all substantive rights and obligations, including those arising from laws and regulations, are considered on a contract-by-contract Insurance contracts that Sony underwrites in the life insurance business, which is included in the Financial Services segment, mainly consist of whole life, term life, disease and health insurance, variable life insurance, and individual variable annuity contracts. Sony classifies certain variable life insurance and individual variable annuity contracts as insurance contracts with direct participation features, if they meet all of the following conditions on initial recognition: • the contractual terms specify that the policyholder participates in a share of a clearly identified pool of underlying items; • Sony expects to pay to the policyholder an amount equal to a substantial share of the fair value returns on the underlying items; and • Sony expects a substantial proportion of any change in the amounts to be paid to the policyholder to vary with the change in the fair value of the underlying items. All other insurance contracts are classified as insurance contracts without direct participation features. ii) Aggregation of insurance contracts In measuring insurance contracts, Sony aggregates the insurance contracts into groups. Each group of insurance contracts is determined by identifying portfolios of insurance contracts. Each portfolio is comprised of contracts that are subject to similar risks and are managed together, and Sony divides each portfolio by each quarterly accounting period (to which the issue date of the insurance contracts belongs). The portfolios are then classified into one of the following three groups based on the profitability of contracts: • any contracts that are onerous on initial recognition; • any contracts that, on initial recognition, have no significant possibility of becoming onerous subsequently; and • any remaining contracts. iii) Recognition and derecognition of insurance contracts A group of insurance contracts issued by Sony is recognized from the earliest of: • the beginning of the coverage period of the group of insurance contracts; • when the first payment from the policyholder in the group of insurance contracts becomes due; and • when facts and circumstances indicate that the group of insurance contracts is onerous. If there is no contractual due date, the due date is considered as the day when the first payment is received from the policyholder. In addition, only contracts that individually meet the recognition criteria by the end of the reporting period are included in the groups. When contracts individually meet the recognition criteria after the end of the reporting period, they are added to the groups in the reporting period in which they meet the recognition criteria. Composition of the groups is not reassessed in subsequent periods. Insurance acquisition cash flows are allocated to groups of insurance contracts using a systematic and rational method and considering, in an unbiased way, all reasonable and supportable information that is available without undue cost or effort. If insurance acquisition cash flows are directly attributable to a group of insurance contracts, they are allocated to that group. If insurance acquisition cash flows are directly attributable to a portfolio but not to a group of insurance contracts, then they are allocated to the groups in that portfolio using a systematic and rational method. Sony derecognizes an insurance contract when it is extinguished, i.e., when the obligation specified in the insurance contract expires or is discharged or canceled. When an insurance contract is derecognized, Sony: • adjusts the fulfillment cash flows allocated to the group of insurance contracts to eliminate those relating to the derecognized rights and obligations; • adjusts the contractual service margin (“CSM”) of the group of insurance contracts for the change in the fulfillment cash flows; and • adjusts the number of coverage units expected for the remaining insurance contract services to reflect the number of coverage units derecognized from the group of insurance contracts. iv) Contract boundaries In measuring groups of insurance contracts, Sony includes all of the future cash flows within the boundary of each contract in the group. Cash flows are within the contract boundary if they arise from substantive rights and obligations that exist during the reporting period in which the policyholder is obliged to pay premiums or Sony has a substantive obligation to provide services (including insurance coverage and any investment services). A substantive obligation to provide services ends when Sony: (a) has the practical ability to reassess the risks of the particular policyholder and can set a price or level of benefits that fully reflects those reassessed risks; or (b) has the practical ability to reassess the risks of the portfolio that contains the contract and can set a price or level of benefits that fully reflects the risks of that portfolio, and the pricing of the premiums up to the reassessment date does not take into account risks that relate to periods after the reassessment date. For cash flows arising during the period after the renewal of the insurance contract with automatic renewal clauses, Sony assesses the contract boundaries and determines that they are within the existing contract boundaries when Sony does not have the above practical ability to reassess the risks. v) Initial measurement of insurance contracts not measured under the premium allocation approach (“PAA”) On initial recognition, Sony measures a group of insurance contracts as the total of the following: (a) Fulfillment cash flows The fulfillment cash flows of the groups of insurance contracts consist of estimates of the future cash flows and risk adjustments for non-financial non-performance non-financial non-financial (b) CSM The CSM of a group of insurance contracts represents the unearned profit that Sony will recognize as it provides insurance contract services under those contracts. vi) Subsequent measurement of insurance contracts not measured under the PAA The carrying amount of a group of insurance contracts at each reporting date is the sum of the liability for incurred claims and the liability for remaining coverage. The liability for incurred claims comprises the fulfillment cash flows for incurred claims and expenses that have not yet been paid, including claims that have been incurred but not yet reported. The liability for remaining coverage comprises the items described below. (a) Fulfillment cash flows The fulfillment cash flows of groups of insurance contracts are measured at the reporting date using current estimates of future cash flows, discount rates, and risk adjustment for non-financial (b) CSM The carrying amount of the CSM of contracts without direct participation features at each reporting date is the carrying amount at the beginning of the fiscal year, adjusted for the following items (items (2), (3)1, (3)2, and (3)4 below are measured using the discount rate determined at initial recognition (locked-in (1) the effect of any new contracts that are added to the group during the current period; (2) the interest accreted on the carrying amount of the CSM during the current period; (3) the changes in fulfillment cash flows relating to future service including the following items: 1. experience adjustments arising from premiums received in the current period that relate to future services (including those for related cash flows such as insurance acquisition cash flows and premium-based taxes); 2. changes in estimates of the present value of future cash flows in the liability for remaining coverage (excluding the effect of the time value of money, financial risk and changes therein); 3. differences between any investment component expected to become payable in the current period and the actual investment component that becomes payable in the current period; and 4. changes in the risk adjustment for non-financial (4) the effect of any currency exchange differences; and (5) the amount recognized as insurance revenue for insurance contract services provided during the current period, which is determined after all other adjustments above. The carrying amount of the CSM of contracts with direct participation features at each reporting date is the carrying amount at the beginning of the fiscal year, adjusted for the following items (items (3)2, (3)3, (3)4, and (3)5 below are measured using the current discount rate): (1) the effect of any new contracts that are added to the group during the current period; (2) the changes in Sony’s share of the fair value of the underlying items; (3) the changes in the fulfillment cash flows that do not vary based on the returns of underlying items including the following items: 1. changes in the effect of the time value of money and financial risks including the effect of financial guarantees; 2. experience adjustments arising from premiums received in the current period that relate to future services (including those for related cash flows such as insurance acquisition cash flows and premium-based taxes); 3. changes in estimates of the present value of future cash flows in the liability for remaining coverage (excluding the effect of the time value of money, financial risk and changes therein); 4. differences between any investment component expected to become payable in the current period and the actual investment component that becomes payable in the current period; and 5. changes in the risk adjustment for non-financial (4) the effect of any currency exchange differences; and (5) the amount recognized as insurance revenue for insurance contract services provided during the current period, which is determined after all other adjustments above. Sony has selected an accounting policy to update accounting estimates related to insurance contracts made in the previous interim consolidated financial statements in the subsequent annual and interim consolidated financial statements and to measure the annual results using the year-to-date Changes in the fulfillment cash flows that relate to current or past services are recognized as profit or loss. Changes in the fulfillment cash flows that relate to future services are adjusted as the CSM or loss component as follows: • when an increase in the fulfillment cash flows exceeds the carrying amount of the CSM, the CSM is reduced to zero and the excess is recognized as insurance service expenses and such excess is recorded as a loss component of the liability for the remaining coverage; • when the CSM is zero, changes in the fulfillment cash flows adjust the loss component within the liability for remaining coverage with correspondence to insurance service expenses; and • the excess of any decrease in the fulfillment cash flows over the loss component reduces the loss component to zero and reinstates the CSM. When a loss component exists, Sony allocates the following items between the loss component and the remaining component of the liability for the remaining coverage for the respective group of insurance contracts, based on the ratio of the loss component to the fulfillment cash flows relating to the expected future cash outflows: (1) expected incurred claims and other directly attributable expenses for the period; (2) changes in the risk adjustment for non-financial (3) finance income (expenses) from insurance contracts issued. The amounts of loss component allocation in (1) and (2) above reduce the respective components of insurance revenue and are reflected in insurance service expenses. vii) Measurement of insurance contracts measured under the PAA For certain insurance contracts with a coverage period of one year or less at initial recognition, Sony uses the PAA to simplify the measurement of the group of insurance contracts. Under the PAA, on initial recognition of each group of insurance contracts, the carrying amount of the liability for remaining coverage is measured at the premiums received on initial recognition, minus any insurance acquisition cash flows allocated to the group at the date of the receipt of the premiums. Sony amortizes insurance acquisition cash flows over the coverage period of the group of insurance contracts. Subsequently, the carrying amount of the liability for remaining coverage is increased by any premiums received and the amortization of insurance acquisition cash flows recognized as expenses, and decreased by the amount recognized as insurance revenue for services provided and any additional insurance acquisition cash flows allocated after initial recognition. viii) Presentation Portfolios of insurance contracts that are assets and those that are liabilities are presented separately in the consolidated statements of financial position. If no insured event has occurred and the surrender option has not been exercised as of the reporting date, the insurance contract liabilities are classified as non-current Sony disaggregates amounts recognized in the consolidated statements of income and the consolidated statements of comprehensive income into insurance revenue and insurance service expenses (collectively referred to as the “insurance service result”), and insurance finance income or expenses. Sony does not disaggregate changes in the risk adjustment for non-financial (a) Insurance revenue Insurance revenue excludes any investment components and is recognized as follows: (1) Contracts not measured under the PAA Sony recognizes insurance revenue as it provides insurance contract services. For contracts not measured under the PAA, the insurance revenue relating to services provided for each period represents the total of the changes in the liability for remaining coverage that relate to services for which Sony expects to receive consideration, and primarily comprises the following items: • a release of the CSM, measured based on coverage units provided during the current period; • changes in the risk adjustment for non-financial • claims and other insurance service expenses incurred during the current period, measured at the amounts expected at the beginning of the current period; and • allocation of the amount of insurance acquisition cash flows in a systematic way based on the passage of time. The release amount of the CSM of a group of insurance contracts that is recognized as insurance revenue in each period is determined by identifying the coverage units in the group and recognizing in profit or loss the amount of the CSM allocated to the coverage units provided during the current period. The number of coverage units is the quantity of services provided based on the insurance contracts in the group, determined by considering the quantity of benefits to be provided by each insurance contract in the group and the expected coverage period. Services provided based on insurance contracts include insurance coverage and, for all direct participating contracts, investment related services for managing underlying items on behalf of policyholders. Insurance contracts other than direct participating contracts include investment return services for generating an investment return for the policyholder. (2) Contracts measured under the PAA For contracts measured under the PAA, the insurance revenue for each period is the amount of expected premium receipts for providing services during the period. Sony allocates the expected premium receipts to each period based mainly on the passage of time. (b) Insurance service expenses Insurance service expenses comprise the following items: (1) incurred claims and benefits excluding investment components and reduced by the loss component allocation; (2) other incurred and directly attributable insurance service expenses (reduced by the loss component allocation); (3) amortization of insurance acquisition cash flows; (4) changes that relate to past services (e.g., changes in the fulfillment cash flows relating to the liability for incurred claims); and (5) changes that relate to future services (e.g., losses on onerous insurance contracts and reversal of those losses arising from changes in the loss components). For contracts not measured under the PAA, amortization of insurance acquisition cash flows is reflected in insurance service expenses in the same amount as insurance acquisition cash flows recovery reflected within insurance revenue as described above. (c) Insurance finance income or expenses Insurance finance income or expenses comprise changes in the carrying amounts of groups of insurance contracts arising from the effects of the time value of money, financial risk and changes therein. Sony has chosen to disaggregate insurance finance income or expenses between profit or loss and other comprehensive income for contracts without direct participation features, excluding certain variable life insurance and individual variable annuity contracts. The amount included in profit or loss is determined by a systematic allocation of the expected total insurance finance income or expenses over the duration of the group of insurance contracts. The amount of systematic allocation is determined using the discount rates determined on initial recognition of the group of insurance contracts. As a result of this systematic allocation, the total amounts recognized in other comprehensive income is equal to zero over the duration of the group of insurance contracts. In addition, the cumulative amount recognized in other comprehensive income at any point in time is the difference between the carrying amount of the group of insurance contracts and the amount measured by this systematic allocation. For contracts with direct participation features, the insurance finance income or expenses include changes in the value of underlying items (excluding additional premium payments and withdrawals), all of which are recognized in profit or loss. Material accounting policies for insurance contracts under IFRS 4 prior to applying IFRS 17 IFRS 17 was effective for Sony as of April 1, 2023 and the consolidated financial statements for the fiscal year ended March 31, 2023 were restated in accordance with IFRS 17. Refer to the following regarding the material accounting policies for insurance contracts for the fiscal year ended March 31, 2022. In accordance with IFRS 4, insurance contracts are recognized and measured according to the same accounting principles previously applied under generally accepted accounting principles in the United States. i) 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 future insurance policy benefits. The deferred insurance acquisition costs for non-traditional ii) 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 rates, mortality rates, lapse rates and other factors. These assumptions are reviewed on a periodic basis. Liabilities for future insurance policy benefits include the liabilities for the minimum guarantee benefits of individual variable annuity and variable life insurance contracts. iii) 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 end of the reporting period. 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 include the liabilities related to the individual variable annuity and variable life insurance contracts with minimum guarantee benefits. iv) Insurance-related accounts measured at fair value Sony measures at fair value certain future insurance policy benefits and policyholders’ account in the life insurance business. The fair value measurement mitigates 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 individual variable annuity contracts with minimum guarantee benefits, and the underlying investment managed for policyholders and derivatives entered into related to such investments. 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 amount recognized in other comprehensive income is reclassified to profit or loss when the insurance contract liabilities are derecognized. v) Shadow accounting in the life insurance business When holding financial assets that are measured at fair value through other comprehensive income and which correspond to insurance contract liabilities, shadow accounting is applied to evaluate insurance-related accounts as if the financial assets were sold as of the end of reporting period and realized valuation gains or losses for the purpose of reducing the accounting mismatches between the insurance contract liabilities and the financial assets. Sony performs a shadow liability adequacy test on life insurance contracts quarterly. In a shadow liability adequacy test, mainly, future insurance policy benefits minus deferred insurance acquisition costs in the consolidated statements of financial position are compared to the present value of future cash flow on a best-estimate basis as of the end of reporting period to determine that the future insurance policy benefits are recorded at a sufficient level. If there is a shortage compared to the present value of future cash flows on a best-estimate basis at the time, the deferred insurance acquisition costs will be decreased to the extent of the shortage through other comprehensive income. If the deferred insurance acquisition costs are decreased to zero and the shortage remains, the future insurance policy benefits are increased by the remaining shortage through other comprehensive income. Shadow accounting is an accounting treatment that affects the measurement of the insurance-related accounts in response to unrealized gains or losses recognized for the assets in a manner consistent with realized gains or losses. When the gains or losses from the assets are recognized in other comprehensive income, the fluctuations in the carrying amount of insurance-related accounts are also recognized in other comprehensive income. vi) Financial services revenue Traditional life insurance policies that Sony underwrites in the life insurance business, most of which are categorized as long-duration contracts, mainly consist of whole life, term life, and disease and health insurance contracts. Premiums from these policies are reported as revenue when due from policyholders. Amounts received as payment for non-traditional non-life vii) Financial services expenses Financial services expenses include a provision for policy reserves and amortization of deferred insurance acquisition costs, interest expenses in the banking business, and all other operating costs, such as employee benefits expenses, depreciation of property, plant and equipment, and office rental of subsidiaries, in the Financial Services segment. |
Provisions | (12) Provisions - Provisions are recognized when Sony has present legal or constructive obligations as a result of past events, it is probable that outflows of resources embodying economic benefits will be required to settle the obligations, and reliable estimates can be made of the amount of obligations. Provisions mainly consist of participation and residual liabilities in the Pictures segment and product warranties. i) Participation and residual liabilities in the Pictures segment Parties involved in the production or exploitation of film and television content may be compensated in part by contingent payments based on the financial results of a film or television show pursuant to contractual formulas (participations) and by contingent amounts due under provisions of collective bargaining agreements (residuals). Such parties are collectively referred to as participants, and such costs are collectively referred to as participation and residual costs. Participation and residual costs may be given to creative talent, such as actors or writers, investors or to entities from whom distribution rights are licensed. Participation and residual liabilities are accrued based on the ratio of current period actual revenues to the estimated remaining total revenues. The participation and residual liabilities are expected to be relieved when the contingent payments are fixed and paid. The majority of the non-current Sony also enters into arrangements with other studios to jointly produce and distribute films, under which each partner is responsible for the distribution of the film in specific territories or distribution windows. The partners’ shares in the profits and losses of the films under these arrangements are included within participation and residual costs. ii) Product warranties Sony issues contractual product warranties under which it generally guarantees the performance of products delivered and services rendered for a certain period or term. Product warranties are calculated based upon product sales, estimated probability of failure and estimated cost per claim. The estimates and forecasts used in the calculation of product warranties are reviewed on a periodic basis. |
Employee benefits | (13) Employee benefits - i) Post-employment benefits Sony adopts defined benefit plans and defined contribution plans. Defined benefit plans Sony recognizes the net defined benefit liability or asset of defined benefit plans in the consolidated statements of financial position as the amount of the present value of defined benefit obligations less the fair value of plan assets. The present value of defined benefit obligations is calculated by discounting the expected future benefit, and service costs are determined by using the projected unit credit method. If the fair value of plan assets is in excess of the present value of defined benefit obligations, the amount of any asset to be recognized is limited to the present value of any economic benefits available in the form of refunds from the plan or reductions in the future contributions to the plan. The discount rate is determined by reference to market yields at each fiscal year-end Past service cost, which is the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment, is recognized in profit or loss. Remeasurements of the net defined benefit liability or asset are recognized in other comprehensive income when they occur and transferred to retained earnings immediately. Defined contribution plans Sony recognizes contributions to defined contribution plans as expenses when employees have rendered related services. ii) Short-term employee benefits Sony recognizes short-term employee benefits, such as salaries, bonuses and annual paid absences, as expenses at the amount expected to be paid in exchange for services when employees have rendered such services. |
Stock-based compensation | (14) Stock-based compensation - i) Stock option plan Sony estimates the cost of stock options at their fair value on the grant date and recognizes the expense over the vesting period with a corresponding increase in equity. The fair value of options granted is calculated using the Black-Scholes option-pricing model with consideration for terms and conditions of the stock options. ii) Restricted stock plan Sony estimates the cost of restricted stock by the fair value of the stock granted on the grant date and recognizes the expense over the vesting period with a corresponding increase in equity. iii) Restricted stock unit plan Sony estimates the cost of restricted stock units by the fair value of the units granted on the grant date and recognizes the expense over the vesting period with a corresponding increase in equity. |
Fair value measurement | (15) 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 determines 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 assumptions which Sony developed using the information 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 quarterly interim period in which the transfers occur. |
Revenue recognition | (16) 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 its segments and recognizes revenue through the licensing of such intellectual property. Sony licenses rights to use its intellectual property and rights to access its intellectual property. When Sony grants a customer the right to use Sony’s intellectual property, Sony satisfies its performance obligation at the point in time when the customer obtains control and is entitled to benefit from the license. When Sony grants a customer the right to access Sony’s intellectual property, Sony satisfies its performance obligation over the license period. 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 Entertainment, Technology & Services (“ET&S”) and Imaging & Sensing Solutions (“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 Game & Network Services (“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 a right to use Sony’s 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, or a right to access Sony’s intellectual property. 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 based on sales and usage royalties, except where there is 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 products 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 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 a right to access Sony’s intellectual property is recognized ratably over the license term. For home entertainment distribution, revenues from the sale of physical products such as DVDs and Blu-ray ™ video-on-demand Revenue is generally recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. |
Financial services revenue | (17) Financial services revenue - Financial services revenue consists of insurance revenue and other financial services revenue (refer to Note 3 I. Material accounting policies (11) regarding insurance revenue). Other financial services revenue includes items such as interest, dividends and the impact of foreign exchange rate fluctuations incurred from financial instruments held in the Financial Services segment. |
Cost of sales | (18) 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 property, plant and equipment, amortization of intangible assets including content assets, employee benefits expenses and research and development costs. |
Research and development expenditures | (19) Research and development expenditures - Research and development expenditures include items such as employee benefits expenses and other direct and indirect expenses associated with research and product development. Development expenditures are capitalized only when technical feasibility is achieved, Sony has the intention, ability and sufficient resources to use or sell the outcome of the development, it is probable that the outcome will generate a future economic benefit, and the cost can be reliably measured. Capitalized development costs are measured as the sum of total expenditures for development upon achieving the foregoing conditions for capitalization until development is completed. Research expenditures and other development expenditures that do not meet the foregoing conditions are expensed as incurred and included in the cost of sales in the consolidated statements of income. |
Selling, general and administrative | (20) 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 employee benefits expenses, depreciation of property, plant and equipment, office rental for sales, marketing and administrative divisions, loss allowance for trade receivables and amortization of intangible assets. |
Advertising costs | (21) Advertising costs - Advertising costs are expensed as incurred. |
Shipping and handling costs | (22) 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. However, in the Pictures segment, certain 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 |
Financial services expenses | (23) Financial services expenses - Financial services expenses consist of insurance service expenses, insurance finance income or expenses, and other financial services expenses (refer to Note 3 I. Material accounting policies (11) regarding insurance service expenses, and insurance finance income or expenses). Other financial services expenses include items such as interest expenses in the banking business. |
Income taxes | (24) Income taxes - Income taxes consist of current and deferred taxes. Current and deferred taxes are recognized in profit or loss, except to the extent that the tax arises from a business combination, or a transaction or event which is recognized, in the same or a different period, outside profit or loss, either in other comprehensive income or directly in equity. Current taxes are computed based on taxable profit or loss for the year, using the tax rates enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are recognized for temporary differences between the tax bases of assets and liabilities and their carrying amounts at the end of the reporting period. Deferred tax liabilities include the liabilities being recognized for undistributed profits of subsidiaries and associates accounted for under the equity method that are expected to be remitted in the foreseeable future. Deferred income taxes are determined using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets and liabilities are not recognized in respect of temporary differences that arise from the initial recognition of an asset or liability in a transaction which is not a business combination and which, at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss). Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the assets can be utilized. Accordingly, the valuation of the deferred tax assets is assessed periodically with available evidence related to the recoverability of the deferred tax assets. Management’s judgment related to this assessment considers 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 resulting from uncertain tax positions taken or expected to be taken in a tax return. 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 and expenses for all years subject to examinations based upon the evaluation of the facts, circumstances and information available at that reporting date. |
Net income (loss) attributable to Sony Group Corporation's stockholders per share ("EPS") | (25) Net income (loss) attributable to Sony Group 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 Group Corporation’s stockholders. |
New accounting standards and interpretations not yet adopted | II. New accounting standards and interpretations not yet adopted Major new or amended standards and interpretations that have been issued as of the date of approval of the consolidated financial statements which are not effective and have not yet been adopted by Sony as of March 31, 2024 are as follows: Amendments to IAS 1 “Presentation of Financial Statements” In January 2020, the IASB issued “Classification of Liabilities as Current or Non-current non-current. Non-current Amendments to IAS 7 “Statement of Cash Flows” and IFRS 7 “Financial Instruments: Disclosures” In May 2023, the IASB issued “Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7).” These amendments were issued to disclose information about supplier finance arrangements and are effective for Sony as of April 1, 2024. Since these amendments only affect disclosures, they will have no impact on Sony’s results of operations and financial position. IFRS 18 “Presentation and Disclosure in Financial Statements” In April 2024, the IASB issued IFRS 18 “Presentation and Disclosure in Financial Statements” (“IFRS 18”). IFRS 18 mainly introduces three sets of requirements to give investors more transparent and comparable information about companies’ financial performance: additional subtotals with newly defined categories for classifying income and expenses in the statement of profit or loss, disclosures about management-defined performance measures, and enhanced requirements for more useful grouping of information in the financial statements. IFRS 18 will be effective for Sony as of April 1, 2027, with early adoption permitted. The impact of IFRS 18 on Sony’s consolidated financial statements is being evaluated. |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of Components of Segment Sales and Financial Services Revenue | Segment sales and financial services revenue: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Game & Network Services — Customers 2,674,356 3,538,533 4,172,994 Intersegment 65,407 106,065 94,740 Total 2,739,763 3,644,598 4,267,734 Music — Customers 1,100,532 1,364,815 1,594,955 Intersegment 16,417 15,817 24,003 Total 1,116,949 1,380,632 1,618,958 Pictures — Customers 1,236,399 1,364,887 1,486,717 Intersegment 2,512 4,535 6,333 Total 1,238,911 1,369,422 1,493,050 Entertainment, Technology & Services — Customers 2,297,886 2,436,739 2,414,946 Intersegment 41,300 39,286 38,772 Total 2,339,186 2,476,025 2,453,718 Imaging & Sensing Solutions — Customers 992,200 1,301,481 1,503,906 Intersegment 84,224 100,706 98,832 Total 1,076,424 1,402,187 1,602,738 Financial Services — Customers 1,524,811 878,532 1,760,731 Intersegment 9,018 10,550 9,223 Total 1,533,829 889,082 1,769,954 All Other — Customers 82,264 72,338 75,784 Intersegment 16,519 15,285 13,586 Total 98,783 87,623 89,370 Corporate and elimination (222,332 ) (275,196 ) (274,754 ) Consolidated total 9,921,513 10,974,373 13,020,768 |
Summary of Components of Segment Profit or Loss | Segment profit (loss): Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Operating income (loss): Game & Network Services 346,089 250,006 290,184 Music 210,933 263,107 301,662 Pictures 217,393 119,255 117,702 Entertainment, Technology & Services 212,942 179,461 187,399 Imaging & Sensing Solutions 155,597 212,214 193,541 Financial Services 150,111 318,118 173,576 All Other 17,981 16,849 1,600 Total 1,311,046 1,359,010 1,265,664 Corporate and elimination (108,707 ) (56,621 ) (56,833 ) Consolidated operating income 1,202,339 1,302,389 1,208,831 Financial income 19,304 31,058 125,597 Financial expenses (104,140 ) (58,951 ) (65,766 ) Consolidated income before income taxes 1,117,503 1,274,496 1,268,662 |
Summary Of Components of Other Significant Items | Other significant items: Yen in millions Fiscal year ended March 31 2022 2023 2024 Share of profit (loss) of investments accounted for using the equity method: Game & Network Services 14 144 922 Music 4,073 7,063 6,091 Pictures (664 ) 515 (173 ) Entertainment, Technology & Services 1,103 1,076 777 Imaging & Sensing Solutions (603 ) (1,128 ) (4,155 ) Financial Services — — (55 ) All Other 19,723 16,779 7,095 Consolidated total 23,646 24,449 10,502 Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Depreciation and amortization: Game & Network Services 61,219 87,201 123,065 Music 61,465 67,240 84,576 Pictures 396,251 506,697 541,106 Entertainment, Technology & Services 91,759 97,448 101,676 Imaging & Sensing Solutions 172,842 196,674 247,900 Financial Services 94,169 26,333 27,689 All Other 4,300 4,376 4,830 Total 882,005 985,969 1,130,842 Corporate 22,465 18,621 14,139 Consolidated total 904,470 1,004,590 1,144,981 |
Summary of Sales and Operating Revenue to External Customers by Product Category | Sales to customers by product category: The following table is a breakdown of sales and financial services revenue to external customers by product category for each segment. Sony management views each segment as a single operating segment. Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Game & Network Services Digital Software and Add-on 1,424,459 1,523,045 1,934,586 Network Services 409,355 464,676 545,537 Hardware and Others 840,542 1,550,812 1,692,871 Total 2,674,356 3,538,533 4,172,994 Music Recorded Music — Streaming 462,368 598,868 709,453 Recorded Music — Others 206,412 286,270 356,646 Music Publishing 200,334 276,665 326,727 Visual Media and Platform 231,418 203,012 202,129 Total 1,100,532 1,364,815 1,594,955 Pictures Motion Pictures 518,840 464,043 542,044 Television Productions 419,494 536,250 551,035 Media Networks 298,065 364,594 393,638 Total 1,236,399 1,364,887 1,486,717 Entertainment, Technology & Services Televisions 858,837 733,251 624,264 Audio and Video 326,704 391,608 412,067 Still and Video Cameras 414,898 565,018 643,429 Mobile Communications 365,864 356,771 299,905 Other 331,583 390,091 435,281 Total 2,297,886 2,436,739 2,414,946 Imaging & Sensing Solutions 992,200 1,301,481 1,503,906 Financial Services 1,524,811 878,532 1,760,731 All Other 82,264 72,338 75,784 Corporate 13,065 17,048 10,735 Consolidated total 9,921,513 10,974,373 13,020,768 |
Summary of Sales and Operating Revenue Attributed to Countries and Areas Based on Location of External Customers and Long-Lived Assets | Sales and financial services revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2022, 2023 and 2024 and non-current Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Sales and financial services revenue: Japan 2,764,321 2,126,508 3,027,526 United States 2,766,021 3,401,402 3,751,239 Europe 1,870,091 2,190,311 2,632,963 China 771,006 855,437 1,000,907 Asia-Pacific 1,149,261 1,563,414 1,659,776 Other Areas 600,813 837,301 948,357 Total 9,921,513 10,974,373 13,020,768 Yen in millions March 31 2023 2024 Non-current right-of-use Japan 1,875,354 2,036,616 United States 2,417,228 2,856,914 Europe 603,338 682,007 China 34,322 32,154 Asia-Pacific 186,359 222,398 Other Areas 107,162 226,761 Total 5,223,763 6,056,850 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of Carrying Amount of Assets and Liabilities by Measurement Method | The carrying amount of Sony’s assets and liabilities by measurement method as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Assets: Financial assets required to be measured at amortized cost (“AC”) Investments and advances in the Financial Services segment Debt securities 337,374 396,481 Housing loans in the banking business 3,129,393 3,574,468 Other loans 17,854 16,892 Trade and other receivables * Trade receivables 1,754,034 2,140,220 Other receivables 2,712 5,971 Other financial assets Time deposit 36,671 48,416 Security deposit 95,813 107,316 Non-current 152,619 155,525 Other 19,582 47,849 Financial assets required to be measured at fair value through profit or loss (“FVPL”) Investments and advances in the Financial Services segment Debt securities 1,059,718 1,295,877 Equity securities 2,123,062 3,210,296 Other financial assets Debt securities 20,905 22,388 Equity securities 125,590 258,939 Derivative assets 70,144 72,423 Financial assets designated to be measured at FVPL Investments and advances in the Financial Services segment Debt securities 1,486,566 1,243,109 Financial assets required to be measured at fair value through other comprehensive income (“FVOCI”) Investments and advances in the Financial Services segment Debt securities 10,406,699 9,593,519 Other financial assets Debt securities 125 140 Financial assets designated to be measured at FVOCI Investments and advances in the Financial Services segment Equity securities 5,453 7,305 Other financial assets Equity securities 421,845 309,710 Total assets 21,266,159 22,506,844 Current assets 2,196,054 2,669,709 Non-current 19,070,105 19,837,135 * The amounts of trade and other receivables exclude contract assets within trade and other receivables, and contract assets in the consolidated statements of financial position. Cash and cash equivalents are excluded from the table above. Refer to Note 27. Yen in millions March 31 2023 Restated 2024 Liabilities: Financial liabilities required to be measured at AC Short-term borrowings 1,914,934 1,812,605 Current portion of long-term debt 187,942 217,711 Trade and other payables Trade payables 1,701,706 1,803,920 Other payables 162,475 221,542 Deposits from customers in the banking business *1 3,306,981 3,845,607 Long-term debt 1,767,696 2,058,117 Deferred consideration *2 87,937 107,368 Investment contract liabilities 55,779 60,392 Other financial liabilities 61,128 65,790 Financial liabilities required to be measured at FVPL Other financial liabilities Derivative liabilities 34,123 29,287 Contingent consideration 51,512 50,343 Financial liabilities designated to be measured at FVPL Other financial liabilities Redeemable noncontrolling interests 47,326 54,028 Total liabilities 9,379,539 10,326,710 Current liabilities 7,240,263 7,881,832 Non-current 2,139,276 2,444,878 *1 Deposits from customers in the banking business include the non-current *2 Deferred consideration is recorded within other financial liabilities or trade and other payables in the consolidated statements of financial position. |
Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis | The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and 2024 is as follows: Yen in millions March 31, 2023 Restated Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Investments and advances in the Financial Services segment (Current) Other financial assets (Current) Investments and advances in the Financial Services segment (Non-current) Other financial assets (Non-current) Assets: Financial assets required to be measured at FVPL Debt securities Japanese national government bonds — 422,739 — 422,739 — — 422,739 — Japanese local government bonds — 600 — 600 — — 600 — Japanese corporate bonds — 16,872 38 16,910 — — 16,872 38 Foreign government bonds 30,100 173,393 — 203,493 — — 203,493 — Foreign corporate bonds — 5,515 3,377 8,892 — — 5,515 3,377 Investment funds — 367,193 60,796 427,989 — — 410,499 17,490 Equity securities 2,236,646 5,217 6,789 2,248,652 — — 2,123,062 125,590 Derivative assets Interest rate contracts — 43,844 — 43,844 — 438 — 43,406 Foreign exchange contracts — 21,318 — 21,318 — 19,978 — 1,340 Equity contracts 290 — 4,692 4,982 — 4,982 — — Financial assets designated to be measured at FVPL Debt securities Japanese national government bonds — 1,285,920 — 1,285,920 1,001 — 1,284,919 — Japanese local government bonds — 16,038 — 16,038 2,010 — 14,028 — Japanese corporate bonds — 3,315 — 3,315 — — 3,315 — Foreign government bonds — 35,895 — 35,895 — — 35,895 — Foreign corporate bonds — 141,857 3,541 145,398 21,227 — 124,171 — Financial assets required to be measured at FVOCI Debt securities Japanese national government bonds — 7,901,817 — 7,901,817 — — 7,901,817 — Japanese local government bonds — 45,458 — 45,458 1,369 — 44,089 — Japanese corporate bonds — 739,541 171,622 911,163 7,016 — 904,147 — Foreign government bonds — 1,145,709 — 1,145,709 — — 1,145,584 125 Foreign corporate bonds — 307,717 24,672 332,389 46,367 — 286,022 — Securitized products — 29,697 40,591 70,288 — — 70,288 — Financial assets designated to be measured at FVOCI Equity securities 103,270 — 324,028 427,298 — — 5,453 421,845 Total assets 2,370,306 12,709,655 640,146 15,720,107 78,990 25,398 15,002,508 613,211 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Other financial liabilities (Current) Other financial liabilities (Non-current) Liabilities: Financial liabilities required to be measured at FVPL Derivative liabilities Interest rate contracts — 5,656 — 5,656 427 5,229 Foreign exchange contracts — 19,876 — 19,876 18,679 1,197 Equity contracts 3,321 5,270 — 8,591 8,591 — Contingent consideration — — 51,512 51,512 14,790 36,722 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests — — 47,326 47,326 — 47,326 Total liabilities 3,321 30,802 98,838 132,961 42,487 90,474 Yen in millions March 31, 2024 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Investments and advances in the Financial Services segment (Current) Other financial assets (Current) Investments and advances in the Financial Services segment (Non-current) Other financial assets (Non-current) Assets: Financial assets required to be measured at FVPL Debt securities Japanese national government bonds — 423,129 — 423,129 — — 423,129 — Japanese local government bonds — 1,846 — 1,846 — — 1,846 — Japanese corporate bonds — 27,296 20 27,316 — — 27,296 20 Foreign government bonds 39,363 192,325 — 231,688 — — 231,688 — Foreign corporate bonds — 11,981 2,933 14,914 — — 11,981 2,933 Investment funds — 552,017 67,355 619,372 — — 599,937 19,435 Equity securities 3,451,655 8,146 9,434 3,469,235 — — 3,210,296 258,939 Derivative assets Interest rate contracts — 49,619 — 49,619 — 1,009 — 48,610 Foreign exchange contracts — 20,425 — 20,425 — 18,774 — 1,651 Equity contracts — — 2,379 2,379 — 2,379 — — Financial assets designated to be measured at FVPL Debt securities Japanese national government bonds — 1,021,309 — 1,021,309 4,302 — 1,017,007 — Japanese local government bonds — 13,945 — 13,945 5,310 — 8,635 — Japanese corporate bonds — 3,302 — 3,302 3,302 — — — Foreign government bonds — 39,472 — 39,472 7,390 — 32,082 — Foreign corporate bonds — 159,158 5,923 165,081 49,578 — 115,503 — Financial assets required to be measured at FVOCI Debt securities Japanese national government bonds — 7,057,395 — 7,057,395 300 — 7,057,095 — Japanese local government bonds — 48,712 — 48,712 550 — 48,162 — Japanese corporate bonds — 743,804 138,848 882,652 11,414 — 871,238 — Foreign government bonds — 1,221,208 — 1,221,208 — — 1,221,068 140 Foreign corporate bonds — 266,362 34,757 301,119 28,363 — 272,756 — Securitized products — 60,565 22,008 82,573 — — 82,573 — Financial assets designated to be measured at FVOCI Equity securities 67,834 — 249,181 317,015 — — 7,305 309,710 Total assets 3,558,852 11,922,016 532,838 16,013,706 110,509 22,162 15,239,597 641,438 Presentation in the consolidated statements of financial position Level 1 Level 2 Level 3 Total Other financial liabilities (Current) Other financial liabilities (Non-current) Liabilities: Financial liabilities required to be measured at FVPL Derivative liabilities Interest rate contracts — 6,450 — 6,450 406 6,044 Foreign exchange contracts — 17,493 — 17,493 16,297 1,196 Equity contracts 3,428 1,916 — 5,344 5,344 — Contingent consideration — — 50,343 50,343 26,193 24,150 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests — — 54,028 54,028 — 54,028 Total liabilities 3,428 25,859 104,371 133,658 48,240 85,418 |
Summary of Valuation Techniques Used to Measure the Fair Value of Assets and Liabilities Classified as Level 3 | The valuation techniques used to measure the fair value of assets and liabilities classified as Level 3, significant unobservable inputs, and their range are as follows: Valuation technique(s) Significant unobservable inputs Range March 31, 2023 March 31, 2024 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds Discounted cash Credit spread 34bp-63bp 27bp-72bp Foreign corporate bonds 10bp — Securitized products 150bp-190bp 90bp-170bp * bp = basis point |
Summary of Changes in Fair Value of Level 3 Assets and Liabilities | The changes in fair value of Level 3 assets and liabilities for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31, 2023 Total gains (losses) *1 Beginning balance Net income *2 Other comprehensive income *3 Purchases Sales and settlements Transfers Level 3 *4 Transfers out of Level 3 *5 Other Ending balance Assets: Financial assets required to be measured at FVPL Debt securities Japanese corporate bonds 18 — — 20 — — — — 38 Foreign corporate bonds 117 (14 ) — 3,434 (70 ) — — (90 ) 3,377 Securitized products 3,713 — — — (3,713 ) — — — — Investment funds 48,520 (2,541 ) 395 17,254 (2,832 ) — — — 60,796 Equity securities 3,217 (413 ) — 4,021 (36) — — — 6,789 Derivative assets Equity contracts 4,024 (393 ) 356 705 — — — — 4,692 Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds 3,625 (84 ) — — — — — — 3,541 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 154,245 6 (30,203 ) 47,574 — — — — 171,622 Foreign corporate bonds 20,837 598 — 24,362 (21,125 ) — — — 24,672 Securitized products 39,859 (389 ) 6 13,575 (15,048 ) 6,712 (4,124 ) — 40,591 Financial assets designated to be measured at FVOCI Equity securities 205,509 — (24,913 ) 143,611 (126 ) 146 (600 ) 401 324,028 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration 21,552 (475 ) 1,240 43,455 (13,951 ) — — (309 ) 51,512 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 34,995 (1,410 ) 2,877 13,670 (2,802 ) — — (4 ) 47,326 Yen in millions Fiscal year ended March 31, 2024 Total gains (losses) *1 Beginning balance Net income *2 Other comprehensive income *3 Purchases Sales and settlements Transfers Level 3 Transfers out of Level 3 *5 Other Ending balance Assets: Financial assets required to be measured at FVPL Debt securities Japanese corporate bonds 38 — — 20 (18 ) — — (20 ) 20 Foreign corporate bonds 3,377 171 — 317 — — — (932 ) 2,933 Investment funds 60,796 3,781 736 8,677 (6,635 ) — — — 67,355 Equity securities 6,789 595 1 1,951 (152 ) — — 250 9,434 Derivative assets Equity contracts 4,692 (2,816 ) 503 — — — — — 2,379 Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds 3,541 642 — 1,740 — — — — 5,923 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 171,622 8 (32,782 ) — — — — — 138,848 Foreign corporate bonds 24,672 1,315 255 29,150 (19,148 ) — (1,487 ) — 34,757 Securitized products 40,591 1,434 35 12,793 (24,437 ) — (8,408 ) — 22,008 Financial assets designated to be measured at FVOCI Equity securities 324,028 — (6,987 ) 6,342 (73,874 ) — (1,175 ) 847 249,181 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration 51,512 182 6,614 4,363 (12,328 ) — — — 50,343 Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 47,326 (3,396 ) 5,345 5,294 (541 ) — — — 54,028 *1 For liability items, gains are presented as negative and losses are presented as positive. *2 Gains (losses) recognized in net income are included in financial services revenue, other operating (income) expense, net, financial income and financial expenses in the consolidated statements of income. *3 Gains (losses) recognized in other comprehensive income are included in changes in equity instruments measured at fair value through other comprehensive income, changes in debt instruments measured at fair value through other comprehensive income and exchange differences on translating foreign operations in the consolidated statements of comprehensive income. *4 Certain financial assets were transferred to Level 3 because the observability of the inputs used decreased. *5 Certain financial assets were transferred from Level 3 because observable market data became available. |
Summary of Changes in Unrealized Gains (Losses) Recognized in Net Income for Level 3 Assets and Liabilities | The changes in unrealized gains (losses) recognized in net income for Level 3 assets and liabilities held as of March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Assets: Financial assets required to be measured at FVPL Debt securities Foreign corporate bonds (14 ) 171 Investment funds (2,420 ) 3,887 Equity securities (413 ) 495 Derivative assets Equity contracts (393 ) (2,816 ) Financial assets designated to be measured at FVPL Debt securities Foreign corporate bonds (84 ) 646 Financial assets required to be measured at FVOCI Debt securities Japanese corporate bonds 6 8 Foreign corporate bonds 598 1,315 Securitized products (389 ) 1,461 Liabilities: Financial liabilities required to be measured at FVPL Contingent consideration (2,683 ) (1,488 ) Financial liabilities designated to be measured at FVPL Redeemable noncontrolling interests 1,410 3,270 |
Summary of Equity Instruments Measured at Fair Value Through Other Comprehensive Income | Equity instruments measured at fair value through other comprehensive income as of March 31, 2023 and 2024 comprise the following: Yen in millions March 31 2023 2024 Marketable equity instruments 103,270 67,834 Non-marketable 324,028 249,181 Total 427,298 317,015 |
Summary of Equity Instruments Measured at Fair Value Through Other Comprehensive Income Which Were Derecognized | Significant marketable equity instruments measured at fair value through other comprehensive income as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Bilibili Inc. 54,214 29,410 ANYCOLOR Inc. 10,061 8,568 KADOKAWA Corporation 8,017 7,545 Toei Animation Co., Ltd. 10,407 — |
Summary of Balances of the Non-Marketable Instruments Measured at Fair Value Through Other Comprehensive Income by Major Sector Categories | The balances of the non-marketable Yen in millions March 31 2023 2024 Entertainment *1 259,214 187,294 Manufacturing *2 35,182 34,610 Information technology, Communication and Service *3 27,136 24,348 *1 Major investments included Epic Games, Inc. and Scopely, Inc. as of March 31, 2023. Major investments included Epic Games, Inc. as of March 31, 2024. *2 Major investments included Nichia Corporation. *3 Major investments included Semiconductor Energy Laboratory Co., Ltd. |
Summary of Information Relating to Derecognized Equity Instruments Measured at Fair Value Through Other Comprehensive Income by Way of Sale | In order to enhance the efficiency of using assets held effectively, Sony derecognizes equity instruments measured at fair value through other comprehensive income upon the sale of the investment. Information relating to investments derecognized during the fiscal years ended March 31, 2023 and 2024 is as follows: Yen in millions Fiscal year ended March 31 2023 2024 Fair value at derecognition 625 86,265 Cumulative amount recognized in other comprehensive income, net of tax * (298 ) 12,326 Dividend received 8 122 * The cumulative amount recognized in other comprehensive income, net of tax, was transferred to retained earnings upon derecognition of the equity instruments. |
Summary of Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments that are Measured at Amortized Cost | The fair values by fair value hierarchy level of certain financial instruments that are measured at amortized cost as of March 31, 2023 and 2024 are summarized as follows: Yen in millions March 31, 2023 Restated Fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Debt securities Foreign corporate bonds — 4,814 — 4,814 4,796 Securitized products — — 324,153 324,153 331,354 Other — 41 1,173 1,214 1,224 Housing loans in the banking business — — 3,184,060 3,184,060 3,129,393 Total assets — 4,855 3,509,386 3,514,241 3,466,767 Liabilities: Long-term debt including the current portion — 1,343,077 67,844 1,410,921 1,423,392 Investment contract liabilities — 55,523 — 55,523 55,779 Total liabilities — 1,398,600 67,844 1,466,444 1,479,171 Yen in millions March 31, 2024 Fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Debt securities Japanese corporate bonds — 9,957 — 9,957 9,950 Foreign corporate bonds — 3,413 — 3,413 3,386 Securitized products — — 378,389 378,389 378,736 Other — 41 4,368 4,409 4,409 Housing loans in the banking business — — 3,634,011 3,634,011 3,574,468 Total assets — 13,411 4,016,768 4,030,179 3,970,949 Liabilities: Long-term debt including the current portion — 1,606,340 78,935 1,685,275 1,704,102 Investment contract liabilities — 59,578 — 59,578 60,392 Total liabilities — 1,665,918 78,935 1,744,853 1,764,494 |
Summary of Income and Expenses Related to Financial Instruments in the Financial Services Segment | The breakdown of income and expenses related to financial instruments in the Financial Services segment for the fiscal years ended March 31, 2022, 2023 and 2024 is as follows: Yen in millions March 31, 2022 Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 225,922 (6,673 ) 14,765 (49,110 ) 148,813 — 333,717 Total interest income — — 32,839 — 180,006 — 212,845 Dividend income — — — — — 85 85 Expenses Total interest expenses — — — 3,838 — — 3,838 Impairment losses (gains) on financial assets — — 19 — 24 — 43 Yen in millions March 31, 2023 Restated Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 56,150 (109,480 ) 14,242 (58,484 ) 141,189 — 43,617 Total interest income — — 38,787 — 184,519 — 223,306 Dividend income — — — — — 195 195 Expenses Total interest expenses — — — 29,867 — — 29,867 Impairment losses (gains) on financial assets — — 144 — 8 — 152 Yen in millions March 31, 2024 Financial Financial at FVPL Financial Financial Debt Equity Total Income* Net gains (losses) recognized in profit or loss 857,653 (120,317 ) 5,279 (105,974 ) 257,902 — 894,543 Total interest income — — 52,060 — 191,209 — 243,269 Dividend income — — — — — 459 459 Expenses Total interest expenses — — — 72,488 — — 72,488 Impairment losses (gains) on financial assets — — (42 ) — (3 ) — (45 ) * Income includes investment returns which occurred in the insurance business. Refer to Note 13. |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statements [Line Items] | |
Summary of Capital Risk Management Indicator Return on Equity | Sony uses Return on Equity (“ROE”) as an indicator for capital risk management. March 31 2023 Restated 2024 ROE* 16.4 % 13.7 % * ROE is calculated using equity attributable to Sony Group Corporation’s stockholders. |
Summary of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities | The following table summarizes Sony’s financial liabilities as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Deposits from customers in the banking business *1 3,306,981 3,316,556 3,171,377 30,215 14,933 1,060 2,410 96,561 Bonds 349,332 354,169 26,039 40,986 110,862 35,591 80,416 60,275 Borrowings 2,988,994 3,025,480 1,998,315 70,690 147,447 270,268 62,571 476,189 Loan commitments — 35,831 35,831 — — — — — Derivative liabilities *2 34,123 33,766 28,886 623 1,041 912 918 1,386 Guarantee deposits received 40,568 40,568 31,085 272 19 58 13 9,121 Redeemable noncontrolling interests 47,326 48,616 — 24,844 10,397 4,572 198 8,605 Yen in millions March 31, 2023 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years Lease liabilities 532,246 593,967 90,244 80,476 68,143 55,189 47,665 5 years to 6 years 6 years to 7 years 7 years to 8 years 8 years to 9 years 9 years to 10 years 10+ years 56,603 37,539 34,588 25,798 18,384 79,338 *1 Demand deposits are included in the “Within 1 year” category. *2 Breakdown of net settlements and gross settlements in the derivative liabilities are presented below. Yen in millions March 31, 2023 Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Derivative contracts —Net settled Paid 32,881 27,820 769 1,076 912 918 1,386 Derivative contracts —Gross settled Received 29,092 25,894 156 3,042 — — — Paid 29,977 26,960 10 3,007 — — — Yen in millions March 31, 2024 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Deposits from customers in the banking business *1 3,845,607 3,870,349 3,687,051 22,043 11,422 2,728 3,069 144,036 Bonds 544,078 554,986 42,236 112,112 126,786 101,302 80,974 91,576 Borrowings 2,972,629 3,013,803 1,909,097 84,525 259,511 231,829 156,945 371,896 Loan commitments — 50,965 50,965 — — — — — Derivative liabilities *2 29,287 29,557 23,465 1,179 1,178 1,145 953 1,637 Guarantee deposits received 44,864 44,864 31,479 135 9 24 10 13,207 Redeemable noncontrolling interests 54,028 54,389 — 14,794 25,740 99 5,292 8,464 Yen in millions March 31, 2024 Carrying amount Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years Lease liabilities 571,726 671,899 106,505 96,090 85,917 68,624 57,850 5 years to 6 years 6 years to 7 years 7 years to 8 years 8 years to 9 years 9 years to 10 years 10+ years 51,240 47,630 37,279 29,390 21,954 69,420 *1 Demand deposits are included in the “Within 1 year” category. *2 Breakdown of net settlements and gross settlements in the derivative liabilities are presented below. Yen in millions March 31, 2024 Total Within 1 year 1 year to 2 years 2 years to 3 years 3 years to 4 years 4 years to 5 years 5+ years Derivative contracts —Net settled Paid 28,220 22,128 1,179 1,178 1,145 953 1,637 Derivative contracts —Gross settled Received 49,187 49,187 — — — — — Paid 50,524 50,524 — — — — — |
Summary of Foreign Exchange Risk Exposures | The net amount of Sony’s exposure to foreign exchange risk mainly includes the following. Foreign exchange risk exposures that are mitigated by the use of derivatives are excluded. Yen in millions March 31 2023 2024 U.S. dollar 45,316 81,000 Euro 1,459 282 * Net exposures resulting in a liability are presented as negative and net exposures resulting in an asset are presented as positive. |
Summary of Changes in Loss Allowances | (a) Changes in the loss allowances Trade and other receivables, and contract assets including non-current Yen in millions Lifetime expected credit losses Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year 31,341 27,534 Changes due to financial assets recognized at beginning of the fiscal year: — Financial assets that have been derecognized (4,568 ) (2,018 ) New financial assets originated or purchased 6,401 9,464 Write-offs (6,647 ) (5,990 ) Changes in models/risk parameters (1,409 ) 643 Foreign exchange and other movements 2,416 3,433 Balance at end of the fiscal year 27,534 33,066 Debt Securities Yen in millions 12-month Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year 53 61 Changes due to financial assets recognized at beginning of the fiscal year: — Financial assets that have been derecognized (4 ) (10 ) New financial assets originated or purchased 13 8 Changes in models/risk parameters (1 ) (1 ) Foreign exchange and other movements — — Balance at end of the fiscal year 61 58 * For all debt securities, Sony considers that the credit risk has not increased significantly since initial recognition, and therefore the loss allowance is measured at an amount equal to 12-months Substantially all of the loss allowances for debt securities are for debt securities measured at fair value through other comprehensive income as of March 31, 2023 and 2024. Loans Yen in millions 12-month Lifetime Total Balance as of April 1, 2022 164 927 1,091 Changes due to financial assets recognized as of April 1, 2022: — Transfer to lifetime expected credit losses (1 ) 1 — — Transfer to 12-month 80 (80 ) — — Financial assets that have been derecognized (6 ) (285 ) (291 ) New financial assets originated or purchased 51 20 71 Changes in models/risk parameters 25 241 266 Foreign exchange and other movements — — — Balance as of March 31, 2023 313 824 1,137 Changes due to financial assets recognized as of March 31, 2023: — Transfer to lifetime expected credit losses (1 ) 1 — — Transfer to 12-month 106 (106 ) — — Financial assets that have been derecognized (24 ) (227 ) (251 ) New financial assets originated or purchased 45 823 869 Changes in models/risk parameters (162 ) 187 24 Foreign exchange and other movements — — — Balance as of March 31, 2024 277 1,502 1,779 |
Summary of Credit Risk Exposure By Risk Rating Grades | (c) Credit risk exposure by risk rating grades Credit risk exposure by risk rating grades as of March 31, 2023 and 2024, is as follows: Trade and other receivables, and contract assets including non-current Yen in millions March 31 2023 2024 Outstanding receivables by overview period of overdue (Gross carrying amount) Not past due or due within 30 days 1,849,112 2,224,058 Due over 30 to 90 days 46,332 47,942 Due over 90 days 63,519 75,740 Total 1,958,963 2,347,740 Yen in millions March 31 2023 Restated 2024 Debt securities by credit ratings (Gross carrying amount) AAA 536,009 659,016 AA 2,807,684 3,122,639 A 7,328,136 7,111,836 BBB 9,625 15,668 Other 6,434 3,004 Total 10,687,888 10,912,163 |
Summary of Gross Carrying Amount For Loans At Amortized Cost Based On Credit Ratings | The following table shows an analysis of the gross carrying amount for loans measured at amortized cost based on credit ratings by debtors in the banking business in the Financial Services segment as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Normal* Other than Normal Total 12-month expected losses Lifetime expected losses Sub total 12-month expected losses Lifetime expected losses Sub total Loans Housing loans 3,124,410 140 3,124,550 2,173 3,350 5,523 3,130,073 Other 16,852 242 17,094 4 74 78 17,172 Total 3,141,262 382 3,141,644 2,177 3,424 5,601 3,147,245 Yen in millions March 31, 2024 Normal* Other than Normal Total 12-month expected losses Lifetime expected losses Sub total 12-month expected losses Lifetime expected losses Sub total Loans Housing loans 3,570,142 247 3,570,389 1,998 2,706 4,704 3,575,093 Other 15,755 378 16,133 5 96 101 16,234 Total 3,585,897 625 3,586,522 2,003 2,802 4,805 3,591,327 * Normal is defined as borrowers who have strong results and no particular problems with their financial position. |
Equity price risk [member] | |
Statements [Line Items] | |
Summary of Sensitivity Analysis | The table below shows the effects on income before income taxes and other comprehensive income (before considering the tax effects) as of March 31, 2023 and 2024 if market prices of marketable equity instruments (e.g., stocks) had decreased by 10%. Yen in millions March 31 2023 2024 Income before income taxes (11,734 ) (24,621 ) Other comprehensive income (before considering the tax effects) (9,800 ) (6,116 ) |
Currency risk [member] | |
Statements [Line Items] | |
Summary of Sensitivity Analysis | Yen in millions March 31 2023 2024 U.S. dollar (4,532 ) (8,100 ) Euro (146 ) (28 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Classes of current inventories [abstract] | |
Summary of Inventories | Inventories are comprised of the following: Yen in millions March 31 2023 2024 Finished products 1,028,614 1,028,359 Work in process 244,140 314,020 Raw materials, purchased components and supplies 195,288 176,265 Inventories 1,468,042 1,518,644 |
Investments in associates and_2
Investments in associates and joint ventures (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of Investments in Associates and Joint Ventures | The carrying amounts of investments in associates and joint ventures that are not individually material to Sony, as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Investments accounted for using the equity method Associates 279,640 363,611 Joint ventures 45,580 60,133 Total 325,220 423,744 |
Summary of Combined Information of Investments Accounted for Using the Equity Method | Sony’s share of comprehensive income, profit or loss and other comprehensive income, of associates and joint ventures that are not individually material to Sony for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Share of profit or loss Associates 21,920 22,637 19,727 Joint ventures 1,726 1,812 (9,225 ) Total 23,646 24,449 10,502 Share of other comprehensive income Associates 2,077 3,659 5,311 Joint ventures 1 40 37 Total 2,078 3,699 5,348 Share of comprehensive income Associates 23,997 26,296 25,038 Joint ventures 1,727 1,852 (9,188 ) Total 25,724 28,148 15,850 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of changes in property, plant and equipment | The changes in property, plant and equipment for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Land Buildings Machinery Construction Total Balance as of April 1, 2022: Cost 78,160 832,785 1,953,985 145,940 3,010,870 Accumulated depreciation and impairment losses (37 ) (515,313 ) (1,381,020 ) (1,287 ) (1,897,657 ) Carrying amount 78,123 317,472 572,965 144,653 1,113,213 Changes in carrying amount: Additions 700 17,369 112,351 364,450 494,870 Acquisitions through business combinations — 168 2,480 5,939 8,587 Reclassifications 75 75,608 232,218 (314,742 ) (6,841 ) Disposals or classified as held for sale *1 (876 ) (1,610 ) (2,793 ) (644 ) (5,923 ) Depreciation *2 — (33,682 ) (234,530 ) — (268,212 ) Impairment losses — (317 ) (570 ) (52 ) (939 ) Translation adjustment 1,232 8,931 5,315 531 16,009 Other — (4,636 ) (1,264 ) — (5,900 ) Total changes 1,131 61,831 113,207 55,482 231,651 Balance as of March 31, 2023: Cost 79,291 921,156 2,202,010 201,299 3,403,756 Accumulated depreciation and impairment losses (37 ) (541,853 ) (1,515,838 ) (1,164 ) (2,058,892 ) Carrying amount 79,254 379,303 686,172 200,135 1,344,864 Changes in carrying amount: Additions 6,068 14,886 100,199 374,735 495,888 Acquisitions through business combinations — 912 472 12 1,396 Reclassifications 616 76,731 314,967 (394,995 ) (2,681 ) Disposals or classified as held for sale *1 (2,077 ) (2,361 ) (3,416 ) (1,414 ) (9,268 ) Depreciation *2 — (39,781 ) (281,807 ) — (321,588 ) Impairment losses — (76 ) (258 ) (11 ) (345 ) Translation adjustment 2,085 15,913 7,366 5,729 31,093 Other — (1,744 ) (15,032 ) 57 (16,719 ) Total changes 6,692 64,480 122,491 (15,887 ) 177,776 Balance as of March 31, 2024: Cost 85,983 1,033,758 2,551,174 185,287 3,856,202 Accumulated depreciation and impairment losses (37 ) (589,975 ) (1,742,511 ) (1,039 ) (2,333,562 ) Carrying amount 85,946 443,783 808,663 184,248 1,522,640 *1 An asset or disposal group for which the cash flows are expected to arise principally from sale rather than continuing use is classified to current asset as an asset held for sale. *2 Depreciation expenses are allocated to the cost of inventory and are recognized in cost of sales as inventory is sold, or are directly recognized in selling, general and administrative expenses and research and development expenditures in the consolidated statements of income, depending on the use of the asset. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of ROU Assets | The changes in ROU assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Land Buildings Machinery and Total Balance as of April 1, 2022: Carrying amount 17,800 375,268 20,362 413,430 Changes in the carrying amount Increase due to new lease agreements and remeasurement of lease liabilities 1,533 90,395 36,604 128,532 Decrease due to termination of lease agreements and remeasurement of lease liabilities (3,323 ) (10,654 ) (214 ) (14,191 ) Depreciation (1,171 ) (77,368 ) (7,808 ) (86,347 ) Other 399 35,422 818 36,639 Total changes (2,562 ) 37,795 29,400 64,633 Balance as of March 31, 2023: Carrying amount 15,238 413,063 49,762 478,063 Changes in the carrying amount Increase due to new lease agreements and remeasurement of lease liabilities 177 73,038 25,179 98,394 Decrease due to termination of lease agreements and remeasurement of lease liabilities (74 ) (10,396 ) (467 ) (10,937 ) Depreciation (1,169 ) (82,576 ) (11,097 ) (94,842 ) Other 643 31,379 695 32,717 Total changes (423 ) 11,445 14,310 25,332 Balance as of March 31, 2024: Carrying amount 14,815 424,508 64,072 503,395 |
Summary of Lease Expenses | (2) Income, expenses, and cash flows (except for depreciation) arising from lease contracts as a lessee and lessor are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest expenses on lease liabilities 8,223 10,382 12,833 Expenses related to short-term leases accounted for applying an exemption 19,764 36,807 20,798 Income from subleases (2,256 ) (1,784 ) (1,589 ) Net cash outflows for leases 83,546 89,681 100,438 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of changes in goodwill | The changes in goodwill for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Balance at beginning of the fiscal year Cost 1,312,615 1,649,041 Accumulated impairments (359,720 ) (373,929 ) Carrying amount 952,895 1,275,112 Increase (decrease) due to: Acquisitions * 274,499 70,791 Disposals or classified as held for sale (445 ) (14,491 ) Impairments — — Translation adjustments 48,163 155,688 Total changes 322,217 211,988 Balance at end of the fiscal year Cost 1,649,041 1,884,627 Accumulated impairments (373,929 ) (397,527 ) Carrying amount 1,275,112 1,487,100 * Refer to Note 30 for the details of the acquisitions. |
Summary of carrying amount of goodwill by segment | The carrying amounts of goodwill by segment as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 2024 Game & Network Services *1 407,121 465,647 Music *2 579,969 710,888 Pictures *3 259,055 279,949 Entertainment, Technology & Services 14,654 15,829 Imaging & Sensing Solutions 3,479 3,953 Financial Services 10,834 10,834 All Other — — Total 1,275,112 1,487,100 |
Summary of changes in content assets | The changes in content assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Film costs Broadcasting rights Music catalogs Artist contracts Music distribution rights Game content Content assets Total Balance as of April 1, 2022: Cost 3,549,934 395,045 914,418 30,278 43,219 46,086 4,978,980 Accumulated amortization and impairment losses (3,096,457 ) (293,827 ) (209,628 ) (15,035 ) (9,158 ) (12,829 ) (3,636,934 ) Carrying amount 453,477 101,218 704,790 15,243 34,061 33,257 1,342,046 Changes in carrying amount: Additions *1 526,273 83,491 27,839 942 35 10,725 649,305 Acquisitions through business combinations 419 7 607 — 1,171 46,079 48,283 Disposals or classified as held for sale (38,899 ) — — — — (7 ) (38,906 ) Amortization (381,753 ) (76,824 ) (31,686 ) (1,285 ) (2,755 ) (15,820 ) (510,123 ) Impairment losses (13,815 ) — (236 ) — — (152 ) (14,203 ) Translation adjustment 27,228 4,665 50,980 1,086 937 294 85,190 Other — — — — — 290 290 Total changes 119,453 11,339 47,504 743 (612 ) 41,409 219,836 Balance as of March 31, 2023: Cost 4,320,022 419,025 1,008,942 32,484 45,988 97,386 5,923,847 Accumulated amortization and impairment losses (3,747,092 ) (306,468 ) (256,648 ) (16,498 ) (12,539 ) (22,720 ) (4,361,965 ) Carrying amount 572,930 112,557 752,294 15,986 33,449 74,666 1,561,882 Changes in carrying amount: Additions *1 329,104 97,028 20,842 3,061 146 83,757 533,938 Acquisitions through business combinations and other *2 — — 229,884 15,075 2,627 — 247,586 Disposals or classified as held for sale (35,927 ) (7,371 ) — (224 ) — (227 ) (43,749 ) Amortization (397,855 ) (93,240 ) (43,779 ) (1,394 ) (3,146 ) (31,594 ) (571,008 ) Impairment losses (13,454 ) (883 ) — (16 ) — (1,064 ) (15,417 ) Translation adjustment 76,678 16,150 106,777 3,168 2,045 10,063 214,881 Total changes (41,454 ) 11,684 313,724 19,670 1,672 60,935 366,231 Balance as of March 31, 2024: Cost 5,216,247 528,970 1,401,970 54,131 52,498 170,058 7,423,874 Accumulated amortization and impairment losses (4,684,771 ) (404,729 ) (335,952 ) (18,475 ) (17,377 ) (34,457 ) (5,495,761 ) Carrying amount 531,476 124,241 1,066,018 35,656 35,121 135,601 1,928,113 |
Summary of other changes in other intangible assets | The changes in other intangible assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Patent rights, know-how and license agreements Customer Trademarks Software Television carriage contracts Other Total Balance as of April 1, 2022 Cost 213,649 58,427 32,683 952,153 61,939 155,479 1,474,330 Accumulated amortization and impairment losses (193,982 ) (37,342 ) (8,053 ) (678,177 ) (33,881 ) (72,792 ) (1,024,227 ) Carrying amount 19,667 21,085 24,630 273,976 28,058 82,687 450,103 Changes in carrying amount: Additions 6,432 — 17 117,019 — 3,323 126,791 Acquisitions through business combinations 2,056 9,237 16,655 26,298 — 38,394 92,640 Internal development — — — 19,835 — — 19,835 Disposals or classified as held for sale (8 ) (112 ) (14 ) (2,907 ) — (129 ) (3,170 ) Amortization (8,152 ) (9,437 ) (4,290 ) (94,821 ) (3,954 ) (14,566 ) (135,220 ) Impairment losses (8 ) (93 ) — (342 ) — (66 ) (509 ) Translation adjustment 156 1,483 1,516 3,715 2,176 613 9,659 Other (1,121 ) 158 699 4,299 — (322 ) 3,713 Total changes (645 ) 1,236 14,583 73,096 (1,778 ) 27,247 113,739 Balance as of March 31, 2023: Cost 201,243 66,593 51,747 1,045,743 66,583 199,311 1,631,220 Accumulated amortization and impairment losses (182,221 ) (44,272 ) (12,534 ) (698,671 ) (40,303 ) (89,377 ) (1,067,378 ) Carrying amount 19,022 22,321 39,213 347,072 26,280 109,934 563,842 Changes in carrying amount: Additions 8,854 — 20 145,515 — 6,038 160,427 Acquisitions through business combinations 371 2,003 1,887 13 — 123 4,397 Internal development — — — 20,096 — — 20,096 Disposals or classified as held for sale (16 ) (1,697 ) (616 ) (5,576 ) (33 ) (244 ) (8,182 ) Amortization (8,838 ) (10,166 ) (5,874 ) (110,296 ) (4,129 ) (14,587 ) (153,890 ) Impairment losses (16 ) — — (8 ) — (571 ) (595 ) Translation adjustment 444 2,472 5,094 10,981 3,329 4,963 27,283 Other 97 — (104 ) 2,193 — 38 2,224 Total changes 896 (7,388 ) 407 62,918 (833 ) (4,240 ) 51,760 Balance as of March 31, 2024: Cost 212,000 70,560 59,377 1,196,266 75,716 211,848 1,825,767 Accumulated amortization and impairment losses (192,082 ) (55,627 ) (19,757 ) (786,276 ) (50,269 ) (106,154 ) (1,210,165 ) Carrying amount 19,918 14,933 39,620 409,990 25,447 105,694 615,602 |
Insurance contracts in the Fi_2
Insurance contracts in the Financial Services segment (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure Of Methods And Main Inputs Used To Measure Insurance Contracts [Abstract] | |
Summary of methods and main inputs used to measure insurance contracts explanatory | The methods and main inputs used to measure insurance contracts are as follows: Weighted average (%) March 31 2023 2024 Mortality rates 1.03 % 1.02 % Lapse and surrender rates 3.15 % 3.57 % |
Summary of the yield curves used to discount the cash flows of insurance contracts | The table below sets out the yield curves used to discount the cash flows of insurance contracts for major currencies (converted at the spot rate). Yield curve (%) March 31 2023 2024 Term JPY USD JPY USD 1 year (0.10 %) 4.73 % 0.06 % 5.11 % 5 years 0.11 % 3.65 % 0.38 % 4.25 % 10 years 0.40 % 3.54 % 0.77 % 4.25 % 20 years 1.10 % 4.00 % 1.58 % 4.63 % 30 years 1.36 % 3.71 % 1.95 % 4.37 % 40 years 1.50 % 3.54 % 2.14 % 4.07 % |
Summary of changes in liabilities for remaining coverage and liabilities for incurred claims | (a) Changes in liabilities for remaining coverage and liabilities for incurred claims Yen in millions Liability for remaining coverage Liability for *4 Total Excluding loss Loss Balance as of April 1, 2022 Insurance contract assets *1 (84,000 ) — 28,670 (55,330 ) Insurance contract liabilities *2*3 13,004,073 53,820 126,778 13,184,671 Net amounts 12,920,073 53,820 155,448 13,129,341 Insurance revenue (554,570 ) — — (554,570 ) Insurance service expenses Incurred claims and other insurance service expenses — (3,493 ) 272,243 268,750 Amortization of insurance acquisition cash flows 113,433 — — 113,433 Changes in liabilities for incurred claims — — 632 632 Losses and reversals of losses on onerous contracts — (602 ) — (602 ) Total insurance service expenses 113,433 (4,095 ) 272,875 382,213 Insurance service result (441,137 ) (4,095 ) 272,875 (172,357 ) Insurance finance expenses (income) (927,674 ) 2,048 308 (925,318 ) Total amounts recognized in comprehensive income (1,368,811 ) (2,047 ) 273,183 (1,097,675 ) Investment component excluded from insurance revenue and insurance service (776,575 ) — 776,575 — Cash flows Premiums received 1,609,362 — — 1,609,362 Insurance acquisition cash flows (145,272 ) — — (145,272 ) Claims and other insurance service expenses paid — — (1,045,529 ) (1,045,529 ) Total cash flows 1,464,090 — (1,045,529 ) 418,561 Other (322 ) 67 (693 ) (948 ) Balance as of March 31, 2023 Insurance contract assets *1 (93,283 ) — 32,532 (60,751 ) Insurance contract liabilities *2*3 12,331,738 51,840 126,452 12,510,030 Net amounts 12,238,455 51,840 158,984 12,449,279 Insurance revenue (586,115 ) — — (586,115 ) Insurance service expenses Incurred claims and other insurance service expenses — (3,721 ) 276,809 273,088 Amortization of insurance acquisition cash flows 124,518 — — 124,518 Changes in liabilities for incurred claims — — 5,008 5,008 Losses and reversals of losses on onerous contracts — 4,592 — 4,592 Total insurance service expenses 124,518 871 281,817 407,206 Insurance service result (461,597 ) 871 281,817 (178,909 ) Insurance finance expenses (income) 244,793 2,663 (251 ) 247,205 Total amounts recognized in comprehensive income (216,804 ) 3,534 281,566 68,296 Investment component excluded from insurance revenue and insurance service (944,520 ) — 944,520 — Cash flows Premiums received 1,886,124 — — 1,886,124 Insurance acquisition cash flows (153,410 ) — — (153,410 ) Claims and other insurance service expenses paid — — (1,212,518 ) (1,212,518 ) Total cash flows 1,732,714 — (1,212,518 ) 520,196 Other (199 ) (41 ) (167 ) (407 ) Balance as of March 31, 2024 Insurance contract assets *1 (90,377 ) — 33,402 (56,975 ) Insurance contract liabilities *2*3 12,900,023 55,333 138,983 13,094,339 Net amounts 12,809,646 55,333 172,385 13,037,364 *1 Insurance contract assets are included in other current assets or other non-current *2 The current portion of insurance contract liabilities is included in other current liabilities in the consolidated statements of financial position. *3 As of April 1, 2022, March 31, 2023 and March 31, 2024, the carrying amounts of the current portion of insurance contract liabilities were 141,796 million yen, 145,057 million yen and 162,344 million yen, respectively, and the carrying amounts of the non-current portion of insurance contract liabilities were *4 Risk adjustment for non-financial |
Summary of changes in insurance contract liabilities from insurance contract not measured under the premium allocation approach | (b) Changes in insurance contract liabilities from insurance contracts not measured under the PAA by measurement component Yen in millions Estimates of Risk adjustment for non-financial CSM Total Balance as of April 1, 2022 Insurance contract assets (222,149 ) 10,092 156,727 (55,330 ) Insurance contract liabilities 10,842,043 436,103 1,810,803 13,088,949 Net amounts 10,619,894 446,195 1,967,530 13,033,619 Changes that relate to future service Changes in estimates that adjust the CSM 155,005 (29,046 ) (125,959 ) — Changes in estimates that do not adjust the CSM (735 ) (2,512 ) — (3,247 ) Effect of contracts initially recognized during the period (318,707 ) 28,042 293,310 2,645 Total changes that relate to future service (164,437 ) (3,516 ) 167,351 (602 ) Changes that relate to current service CSM recognized in profit or loss for the services provided — — (151,483 ) (151,483 ) Change in risk adjustment for non-financial — (23,466 ) — (23,466 ) Experience adjustments 21,622 — — 21,622 Total changes that relate to current service 21,622 (23,466 ) (151,483 ) (153,327 ) Changes that relate to past service (628 ) (23 ) — (651 ) Insurance service result (143,443 ) (27,005 ) 15,868 (154,580 ) Insurance finance expenses (income) (996,203 ) 1,357 69,528 (925,318 ) Total amounts recognized in comprehensive income (1,139,646 ) (25,648 ) 85,396 (1,079,898 ) Cash flows Premiums received 1,479,110 — — 1,479,110 Insurance acquisition cash flows (130,221 ) — — (130,221 ) Claims and other insurance service expenses paid (951,330 ) — — (951,330 ) Total cash flows 397,559 — — 397,559 Other (1,008 ) 470 (309 ) (847 ) Balance as of March 31, 2023 Insurance contract assets (341,096 ) 39,067 241,278 (60,751 ) Insurance contract liabilities 10,217,895 381,950 1,811,339 12,411,184 Net amounts 9,876,799 421,017 2,052,617 12,350,433 Changes that relate to future service Changes in estimates that adjust the CSM 233,415 (18,328 ) (215,087 ) — Changes in estimates that do not adjust the CSM 6,008 (3,532 ) — 2,476 Effect of contracts initially recognized during the period (403,124 ) 40,912 364,328 2,116 Total changes that relate to future service (163,701 ) 19,052 149,241 4,592 Changes that relate to current service CSM recognized in profit or loss for the services provided — — (151,841 ) (151,841 ) Change in risk adjustment for non-financial — (26,899 ) — (26,899 ) Experience adjustments 5,076 — — 5,076 Total changes that relate to current service 5,076 (26,899 ) (151,841 ) (173,664 ) Changes that relate to past service 255 (2 ) — 253 Insurance service result (158,370 ) (7,849 ) (2,600 ) (168,819 ) Insurance finance expenses (income) 185,948 3,262 57,995 247,205 Total amounts recognized in comprehensive income 27,578 (4,587 ) 55,395 78,386 Cash flows Premiums received 1,748,139 — — 1,748,139 Insurance acquisition cash flows (138,544 ) — — (138,544 ) Claims and other insurance service expenses paid (1,107,850 ) — — (1,107,850 ) Total cash flows 501,745 — — 501,745 Other (834 ) 52 76 (706 ) Balance as of March 31, 2024 Insurance contract assets (291,878 ) 27,824 207,079 (56,975 ) Insurance contract liabilities 10,697,166 388,658 1,901,009 12,986,833 Net amounts 10,405,288 416,482 2,108,088 12,929,858 |
Summary of effect of insurance contracts initially recognized | The table below shows the effect of contracts initially recognized during the fiscal years ended March 31, 2023 and 2024 on measurement components of insurance contracts not measured under the PAA. Yen in millions Fiscal year ended March 31 2023 2024 Profitable Onerous Total Profitable Onerous Total Estimates of the present value of future cash outflows Claims and other insurance service expenses 1,675,615 6,271 1,681,886 2,117,351 4,844 2,122,195 Insurance acquisition cash flows 144,128 2,142 146,270 143,674 2,203 145,877 Total estimates of the present value of future cash outflows 1,819,743 8,413 1,828,156 2,261,025 7,047 2,268,072 Estimates of the present value of future cash inflows (2,141,084 ) (5,779 ) (2,146,863 ) (2,666,256 ) (4,940 ) (2,671,196 ) Total estimates of the present value of future cash flows (321,341 ) 2,634 (318,707 ) (405,231 ) 2,107 (403,124 ) Risk adjustment for non-financial 28,031 11 28,042 40,903 9 40,912 CSM 293,310 — 293,310 364,328 — 364,328 Total effect on measurement components — 2,645 2,645 — 2,116 2,116 |
Summary of breakdown of insurance revenue | The table below shows the breakdown of insurance revenue for the fiscal years ended March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Insurance contracts not measured under the PAA Amounts relating to the changes in the liability for remaining coverage Expected incurred claims and insurance service expenses 152,732 163,182 Changes in risk adjustments for non-financial 23,466 26,899 CSM recognized in profit or loss for services provided 151,483 151,841 Total amounts relating to the changes in the liability for remaining coverage 327,681 341,922 Recovery of insurance acquisition cash flows 98,234 109,824 Total insurance revenue for the insurance contracts not measured under the PAA 425,915 451,746 Insurance contracts measured under the PAA 128,655 134,369 Total insurance revenue 554,570 586,115 |
Summary of timing of when the CSM | The table below shows when Sony expects to recognize the CSM in profit or loss for insurance contracts not measured under the PAA as of March 31, 2023 and 2024. CSM Yen in millions Within 1 year 1 year 2 years 3 years 4 years 5 years More than Total As of March 31, 2023 120,412 112,562 105,060 97,082 89,903 367,009 1,160,589 2,052,617 As of March 31, 2024 125,233 117,663 109,776 100,912 92,671 376,011 1,185,822 2,108,088 |
Summary of insurance finance income or expenses and investment returns on assets recognized in profit or loss | The table below shows the information related to net investment returns on assets and insurance finance expenses (income) recognized in profit or loss and other comprehensive income for the fiscal years ended March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Amounts recognized in profit or loss Net investment returns *1 Financial assets measured at FVPL (59,193 ) 715,388 Interest income from debt instruments required to be measured at FVOCI 179,207 180,822 Currency exchange differences 93,858 156,970 Other (12,374 ) (35,463 ) Total net investment returns 201,498 1,017,717 Insurance finance expenses (income) *2 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks (176,328 ) 685,726 Interest accreted 174,107 183,188 Currency exchange differences 103,391 173,230 Other (15,771 ) (12,444 ) Total insurance finance expenses (income) 85,399 1,029,700 Amounts recognized in profit or loss 116,099 (11,983 ) Amounts recognized in other comprehensive income Net investment returns Underlying assets (1,131,508 ) (969,774 ) Total net investment returns (1,131,508 ) (969,774 ) Insurance finance expenses (income) *2 Effect of changes in interest rates and other financial risks (1,010,761 ) (782,495 ) Other 44 — Total insurance finance expenses (income) (1,010,717 ) (782,495 ) Amounts recognized in other comprehensive income (120,791 ) (187,279 ) Total net investment returns and insurance finance income or expenses (4,692 ) (199,262 ) *1 Included in other financial services revenue in the consolidated statements of income. *2 Expenses are presented as positive and income is presented as negative. |
Summary of underlying items of insurance contracts measured under the variable fee approach and their fair values | The table below shows the underlying items of insurance contracts measured under the variable fee approach and their fair values as of March 31, 2023 and 2024. Yen in millions March 31 2023 2024 Cash and cash equivalents 23,723 19,411 Debt securities Japanese national/local government bonds and corporate bonds 40,143 42,349 Foreign national/local government bonds and corporate bonds 157,724 312,919 Equity securities 1,107,400 1,855,432 Other 964 2,390 Total fair values of the underlying items of insurance contracts measured under the variable fee approach 1,329,954 2,232,501 |
Summary of Insurance revenue and the CSM | Upon transition to IFRS 17, Sony applied either the modified retrospective approach or the fair value approach for groups of insurance contracts where it was impracticable to fully apply IFRS 17 retrospectively. The table below shows insurance revenues by transition approach for the fiscal years ended March 31, 2023 and 2024, as well as the balances of the CSM by transition approach as of March 31, 2023 and 2024. Yen in millions Fiscal year ended March 31 2023 2024 Contracts Contracts New Total Contracts Contracts New Total Insurance revenue 190,199 26,988 337,383 554,570 185,731 27,079 373,305 586,115 CSM Beginning balance of the fiscal year 912,623 26,938 1,027,969 1,967,530 864,530 58,008 1,130,079 2,052,617 Changes that relate to future service (2,007 ) 34,088 135,270 167,351 (61,165 ) 32,341 178,065 149,241 Changes that relate to current service (74,984 ) (3,778 ) (72,721 ) (151,483 ) (66,827 ) (5,834 ) (79,180 ) (151,841 ) Insurance finance expense (income) 29,352 1,107 39,069 69,528 26,954 1,673 29,368 57,995 Other (454 ) (347 ) 492 (309 ) 177 83 (184 ) 76 Ending balance of the fiscal year 864,530 58,008 1,130,079 2,052,617 763,669 86,271 1,258,148 2,108,088 |
Summary of disclosure of changes in accumulated other comprehensive income for financial assets | The table below shows the changes in accumulated other comprehensive income during the fiscal years ended March 31, 2023 and 2024 for financial assets measured at fair value through other comprehensive income, among investment assets related to groups of insurance contracts to which Sony applied the modified retrospective approach or the fair value approach as of the date of the transition. Yen in millions Fiscal year ended March 31 2023 2024 Beginning balance of the fiscal year (878,774 ) (448,390 ) Net change in fair value 590,737 618,978 Net amount reclassified to profit or loss 7,018 16,903 Related income tax (167,371 ) (178,046 ) Ending balance of the fiscal year (448,390 ) 9,445 |
Summary of redesignation of financial assets | Sony applied IFRS 9 before its application of IFRS 17 and redesignated the financial assets based on the facts and circumstances existing at the date of the application of IFRS 17 (April 1, 2023). For financial assets derecognized in the period from the date of transition to IFRS 17 (April 1, 2022) to the date of the application of IFRS 17, Sony applied the classification overlay approach and accounted for them based on the measurement method after redesignation. The table below shows the measurement method and carrying amounts of the financial assets affected by such redesignation before and after the application of IFRS 17 as of April 1, 2023. Yen in millions April 1, 2023 Before application After application Carrying amount Carrying amount Debt securities Financial assets redesignated to be measured at FVPL *1 Japanese national / local government bonds and corporate bonds 1,277,090 1,277,090 Foreign national / local government bonds and corporate bonds 20,570 20,570 Financial assets redesignated to be measured at FVOCI *2 Japanese national / local government bonds and corporate bonds 84,651 88,497 *1 These financial assets were measured at FVOCI before applying IFRS 17. *2 These financial assets were measured at amortized cost before applying IFRS 17. |
Summary of insurance contracts financial instruments sensitivity analysis | The table below shows the effects on income before income taxes and equity as of March 31, 2023 and 2024 if the underlying assumptions of the insurance contracts and financial instruments which Sony has in the life insurance business had changed. March 31, 2023 Yen in millions Insurance contracts Financial Total Assumption Changes in assumptions, etc. Income income Equity Income Equity Income Equity Interest rates 50bp decrease (215,660 ) (822,046 ) 219,130 945,915 3,470 123,869 50bp increase 168,357 689,356 (187,676 ) (822,251 ) (19,319 ) (132,895 ) Fair value of stocks 10% decrease 210,057 151,241 (213,251 ) (153,890 ) (3,194 ) (2,649 ) 10% increase (213,822 ) (153,952 ) 213,251 153,890 (571 ) (62 ) Foreign exchange rates 10% appreciation of the Yen 319,330 213,577 (338,934 ) (211,494 ) (19,604 ) 2,083 10% depreciation of the Yen (322,502 ) (215,861 ) 338,934 211,494 16,432 (4,367 ) Maintenance expenses rates 10% increase (3,934 ) (7,028 ) — — (3,934 ) (7,028 ) Lapse and surrender rates 10% increase 596 16,398 — — 596 16,398 Mortality rates (death protection) 5% increase (6,395 ) (6,443 ) — — (6,395 ) (6,443 ) Mortality rates (third sector / annuity products) 5% increase 1,941 4,629 — — 1,941 4,629 Morbidity rates 5% increase (9,373 ) (18,197 ) — — (9,373 ) (18,197 ) March 31, 2024 Yen in millions Insurance contracts Financial Total Assumption Changes in assumptions, etc. Income Equity Income Equity Income Equity Interest rates 50bp decrease (152,232 ) (653,432 ) 165,181 806,432 12,949 153,000 50bp increase 112,418 548,289 (143,050 ) (705,029 ) (30,632 ) (156,740 ) Fair value of stocks 10% decrease 339,421 244,383 (341,783 ) (246,544 ) (2,362 ) (2,161 ) 10% increase (344,921 ) (248,343 ) 341,783 246,544 (3,138 ) (1,799 ) Foreign exchange rates 10% appreciation of the Yen 468,851 315,357 (470,452 ) (287,872 ) (1,601 ) 27,485 10% depreciation of the Yen (475,489 ) (320,136 ) 470,452 287,872 (5,037 ) (32,264 ) Maintenance expenses rates 10% increase (4,780 ) (8,024 ) — — (4,780 ) (8,024 ) Lapse and surrender rates 10% increase (13,351 ) (13,140 ) — — (13,351 ) (13,140 ) Mortality rates (death protection) 5% increase (4,892 ) (5,501 ) — — (4,892 ) (5,501 ) Mortality rates (third sector / annuity products) 5% increase 1,382 2,054 — — 1,382 2,054 Morbidity rates 5% increase (8,239 ) (11,700 ) — — (8,239 ) (11,700 ) * bp = basis point |
Summary of the remaining undiscounted net cash flows | (b) Maturity analysis The following table summarizes the estimated timing of the remaining undiscounted net cash outflows from insurance contract liabilities and investment contract liabilities and the contractual timing of the remaining undiscounted cash inflows arising from securities held in the insurance business as of March 31, 2023 and 2024. The cash flows of insurance contract liabilities are based on assumptions regarding morbidity rates, mortality rates, and lapse rates, which are consistent with the estimates used for the carrying amounts. Yen in millions March 31, 2023 Total Indefinite Within 1 year 1 year to 2 years to 3 years to 4 years to More than 5 years Insurance contract liabilities and investment contract liabilities 16,809,194 — (75,482 ) (44,017 ) 9,281 54,108 102,498 16,762,806 Securities held in the insurance business 19,640,244 2,408,401 636,352 367,283 345,113 322,176 428,997 15,131,922 Yen in millions March 31, 2024 Total Indefinite Within 1 year 1 year to 2 years to 3 years 3 years to 4 years to More than 5 years Insurance contract liabilities and investment contract liabilities 19,173,131 — 60,673 86,008 127,079 175,412 248,021 18,475,938 Securities held in the insurance business 20,808,629 3,687,375 780,798 341,277 355,062 374,354 305,612 14,964,151 |
Summary of amounts payable on demand | The table below shows the amounts payable on demand from insurance contracts issued by Sony and the carrying amounts of the related insurance contract portfolios. The amounts payable on demand represent the amount of the cash surrender value to be paid if the insurance contracts are surrendered as of March 31, 2023 and 2024. Yen in millions March 31 2023 2024 Amounts payable on demand 11,016,303 12,580,674 Carrying amount 12,290,369 12,870,195 |
Short-term borrowings and lon_2
Short-term borrowings and long-term debt (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of detailed information about borrowings [abstract] | |
Short-term borrowings and long-term debt are comprised | Short-term borrowings and long-term debt are comprised of the following: March 31, 2023 Book value (Yen in millions) Weighted average interest rate Due Short-term borrowings 1,914,934 1.89 % Long-term debt Long-term loans 1,074,060 1.70 % 2023-2056 Unsecured bonds 349,332 0.30 % 2023-2029 Lease liabilities 532,246 2.35 % 1,955,638 Less — Portion due within one year 187,942 1,767,696 March 31, 2024 Book value (Yen in millions) Weighted average interest rate Due Short-term borrowings 1,812,605 2.64 % Long-term debt Long-term loans 1,160,024 1.90 % 2024-2058 Unsecured bonds 544,078 0.41 % 2024-2034 Lease liabilities 571,726 2.53 % 2,275,828 Less — Portion due within one year 217,711 2,058,117 |
Summary of pledged assets as collateral | In the Financial Services segment, Sony pledged assets as collateral for short-term borrowings and long-term debt and the pledged assets are comprised of the following: Yen in millions March 31 2023 2024 Securities 1,678,553 1,597,034 Housing loans in the banking business 829,659 883,882 In addition to the above, in the Financial Services segment, Sony pledged securities for securities-for-securities Yen in millions March 31 2023 2024 Securities 4,728 — Furthermore, in the Financial Services segment, Sony pledged securities as collateral for cash settlements, variation margins of futures markets and certain other purposes and the pledged securities are as follows: Yen in millions March 31 2023 2024 Securities 80,328 77,524 |
Derivative instruments and he_2
Derivative instruments and hedging activities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Derivative Instruments And Hedging Activities [Abstract] | |
Summary of Outstanding Derivative Instruments | The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows: Yen in millions March 31, 2023 March 31, 2024 Asset derivatives Liability derivatives Asset derivatives Liability derivatives Interest rate contracts Interest rate swap agreements 43,464 3,139 49,347 3,876 Interest rate swaptions agreements 380 2,517 272 2,574 Foreign exchange contracts Foreign exchange forward contracts 12,496 12,257 6,951 11,088 Swap agreements 3,774 5,781 7,442 4,066 Currency option contracts purchased 508 835 74 791 Currency option contracts written — 5 — 4 Other currency contracts 4,540 998 5,958 1,544 Equity contracts Equity future contracts 290 3,321 — 3,428 Equity swap agreements — 5,270 — 1,916 Option contracts purchased 4,692 — 2,379 — Total derivatives 70,144 34,123 72,423 29,287 |
Summary of Estimated Fair Values and Maturity Analysis for Notional Amounts of Sony's Outstanding Derivative Instruments | The estimated fair values and maturity analysis for notional amounts of Sony’s outstanding derivative instruments which are designated as hedging instruments are summarized as follows: Yen in millions March 31, 2023 Notional amounts Fair Value Within 1 Over 1 Total Asset Liability Presentation in the Cash flow hedging relationships Foreign exchange forward contracts 70,125 — 70,125 458 — Current assets: Other Average rate (JPY/USD) 131.3 — Currency option bought contracts 45,789 — 45,789 502 — Current assets: Other Average rate (JPY/USD) 125.8 — Currency option sold 47,995 — 47,995 — 835 Current Average rate (JPY/USD) 131.9 — Interest rate swap agreements — 159,918 159,918 28,513 — Non-current assets: Average rate — 1.5 % Yen in millions March 31, 2024 Notional amounts Fair Value Within 1 Over 1 Total Asset Liability Presentation in the Cash flow hedging relationships Foreign exchange forward contracts 92,973 — 92,973 — 1,580 Current liabilities: Other Average rate (JPY/USD) 145.7 — Currency option bought contracts 17,224 — 17,224 70 — Current assets: Other Average rate (JPY/USD) 140.0 — Currency option sold 17,554 — 17,554 — 791 Current liabilities: Other Average rate (JPY/USD) 142.7 — Interest rate swap agreements — 181,704 181,704 33,098 — Non-current Average rate — 1.5 % |
Summary Of Changes in Fair Value Of Hedging Instruments Related to Cash Flow Hedges Recorded In Accumulated Other Comprehensive Income | Changes in the fair value of hedging instruments related to cash flow hedges recorded in accumulated other comprehensive income for the fiscal years ended March 31, 2023 and 2024 are summarized as follows: Yen in millions Foreign exchange Interest rate Total Balance as of April 1, 2022 (5,503 ) 11,537 6,034 Changes in fair value of hedging instruments recognized in other comprehensive (26,950 ) 13,975 (12,975 ) Reclassification adjustments to profit (loss) for the year *1 * 34,825 (4,012 ) 30,813 Deferred tax (2,408 ) (3,051 ) (5,459 ) Balance as of March 31, 2023 (36 ) 18,449 18,413 Changes in fair value of hedging instruments recognized in other comprehensive (28,288 ) 13,256 (15,032 ) Reclassification adjustments to profit (loss) for the year *1 * 25,862 (8,880 ) 16,982 Deferred tax 742 (1,340 ) (598 ) Balance as of March 31, 2024 (1,720 ) 21,485 19,765 *1 In the consolidated statements of income, the amount reclassified to profit (loss) is included in sales for hedges of foreign exchange contracts and in financial expenses for hedges of interest rate contracts. *2 For the fiscal years ended March 31, 2023 and 2024, hedge ineffectiveness recognized in profit or loss was not material. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of Offsetting Financial Assets and Financial Liabilities | Tables below show the gross amounts of financial assets and liabilities, amounts offset, and net amounts presented in the consolidated statements of financial position, as well as the financial assets and liabilities that are subject to enforceable master netting agreements or similar agreements, as of March 31, 2023 and 2024. Yen in millions March 31, 2023 Gross amounts recognized financial assets and financial liabilities Amounts offset in the consolidated statements of financial position Net amounts presented in the consolidated statements of financial position Gross amounts not offset in the consolidated statements of financial position Financial instruments Cash collateral Net amounts Derivative assets *1 34,382 — 34,382 16,430 13,852 4,100 Trade receivables *2 175,872 174,930 942 — — 942 Total assets 210,254 174,930 35,324 16,430 13,852 5,042 Derivative liabilities *1 31,997 — 31,997 21,700 5,216 5,081 Trade payables *2 281,295 174,930 106,365 — — 106,365 Short-term borrowings *3 1,557,652 — 1,557,652 1,556,595 — 1,057 Total liabilities 1,870,944 174,930 1,696,014 1,578,295 5,216 112,503 Yen in millions March 31, 2024 Gross amounts recognized financial assets and financial liabilities Amounts offset in the consolidated statements of financial position Net amounts presented in the consolidated statements of financial position Gross amounts not offset in the consolidated statements of financial position Financial instruments Cash collateral Net amounts Derivative assets *1 33,661 — 33,661 12,098 17,878 3,685 Trade receivables *2 48,925 47,550 1,375 — — 1,375 Total assets 82,586 47,550 35,036 12,098 17,878 5,060 Derivative liabilities *1 28,107 — 28,107 13,153 6,522 8,432 Trade payables *2 69,436 47,550 21,886 — — 21,886 Short-term borrowings *3 1,504,893 — 1,504,893 1,503,455 — 1,438 Total liabilities 1,602,436 47,550 1,554,886 1,516,608 6,522 31,756 *1 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. Master netting agreements create a right of set off, but the master netting agreements do not automatically provide for such set off. *2 Amounts offset in the consolidated statements of financial position are related to repurchase agreements of products. *3 Short-term borrowings relate to bond lending transactions and repurchase agreements (repos). |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statements [Line Items] | |
Summary of Amounts Recognized in Relation to Net Defined Benefit Liability asset in Statements of Financial Position | Amounts recognized in the consolidated statements of financial position are as follows: Yen in millions Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Present value of defined benefit obligations 573,143 543,292 124,702 126,987 Fair value of plan assets (447,747 ) (464,376 ) (56,987 ) (47,893 ) The impact of minimum funding requirement and asset ceiling 6,897 9,837 3,455 3,457 Net amount 132,293 88,753 71,170 82,551 Amount recognized in the consolidated statements of financial position Net defined benefit asset (28,334 ) (69,208 ) (1,775 ) (2,328 ) Net defined benefit liability 160,627 157,961 72,945 84,879 Net amount 132,293 88,753 71,170 82,551 |
Summary of Weighted Average Duration of Defined Benefit Obligations | The weighted average duration of defined benefit obligations as of March 31, 2023 and 2024 is as follows: Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Weighted average duration of defined benefit obligations 11.2 years 10.9 years 12.2 years 12.5 years |
Summary of Weighted-Average Actuarial Assumptions Used to Determine the Present Value of Defined Benefit Obligations | The significant actuarial assumptions used to determine the present value of defined benefit obligations as of March 31, 2023 and 2024 are as follows: Japanese plans Foreign plans March 31 March 31 2023 2024 2023 2024 Discount rate 1.1 % 1.4 % 4.3 % 4.1 % |
Summary of Sensitivity of the Defined Benefit Obligations | The sensitivities of the defined benefit obligations to changes in the significant weighted-average actuarial assumptions are as follows: Yen in millions Japanese plans Foreign plans March 31 March 31 Change in assumptions 2023 2024 2023 2024 Discount rate 0.25% decrease 16,042 14,362 3,487 3,657 0.25% increase (13,201 ) (12,077 ) (3,316 ) (3,493 ) |
Summary of Defined Contribution Expenses | Total defined contribution expenses for the fiscal years ended March 31, 2022, 2023 an d 202 oll ws: Yen in millions Fiscal year ended March 31 2022 2023 2024 Japanese plans 11,137 11,461 11,662 Foreign plans 11,154 17,271 16,137 |
Summary of Employee Benefit expense | Employee benefits expenses included in cost of sales, selling, general and administrative, and financial services expenses in the consolidated statements of income for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Total employee benefits expenses 1,253,148 1,539,965 1,743,936 |
Japanese Defined Benefit Plans [Member] | |
Statements [Line Items] | |
Summary of Fair Value of Plan Assets | The fair values of the assets held by Japanese and foreign plans are as follows: Yen in millions Japanese plans March 31 2023 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 18,060 18,060 — Equity securities *1 37,562 33,335 4,227 Fixed income: Government bonds *2 10,369 975 9,394 Corporate bonds *3 4,587 25 4,562 Commingled funds *4 287,978 — 287,978 Private equity 40,612 — 40,612 Hedge funds 48,579 — 48,579 Total 447,747 52,395 395,352 Yen in millions Japanese plans March 31 2024 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 8,390 8,390 — Equity securities *1 56,122 50,656 5,466 Fixed income: Government bonds *2 11,211 1 11,210 Corporate bonds *3 5,403 — 5,403 Commingled funds *4 297,828 — 297,828 Private equity 40,017 — 40,017 Hedge funds 45,405 — 45,405 Total 464,376 59,047 405,329 *1 Represents primarily Japanese equity securities. *2 Includes approximately 85% and 84% of debt securities issued by Japanese national and local governments, and *3 Includes debt securities issued by Japanese and foreign corporations and government related agencies. *4 Commingled funds represent pooled institutional investments, including primarily investment trusts. |
Foreign Defined Benefit Plan [Member] | |
Statements [Line Items] | |
Summary of Fair Value of Plan Assets | Yen in millions Foreign plans March 31 2023 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 2,403 2,403 — Equity securities *1 65 65 — Fixed income: Government bonds *2 2,135 — 2,135 Corporate bonds *3 12,052 — 12,052 Asset-backed securities 61 — 61 Insurance contracts *4 19,401 341 19,060 Commingled funds *5 18,113 — 18,113 Real estate and other 2,757 8 2,749 Total 56,987 2,817 54,170 Yen in millions Foreign plans March 31 2024 Market price in active Asset class Quoted Unquoted Cash and cash equivalents 4,692 4,692 — Equity securities *1 84 84 — Fixed income: Government bonds *2 1,152 — 1,152 Corporate bonds *3 160 — 160 Asset-backed securities 36 — 36 Insurance contracts *4 21,736 359 21,377 Commingled funds *5 16,682 — 16,682 Real estate and other 3,351 10 3,341 Total 47,893 5,145 42,748 *1 Represents 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 and bulk insurance contracts. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. |
Present value of defined benefit obligation [member] | |
Statements [Line Items] | |
Summary of Changes in the Defined Benefit Obligations Present Value of Defined Benefit Obligations | The changes in the defined benefit obligations for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2023 2024 2023 2024 Beginning balance of the fiscal year 614,763 573,143 277,903 124,702 Current service cost 12,660 12,078 2,319 1,783 Past service cost 5 11 (365 ) 142 Interest cost 4,367 6,534 4,623 5,349 Remeasurements: Change in demographic assumptions 2,974 4,399 (458 ) (385 ) Change in financial assumptions (27,314 ) (16,568 ) (60,179 ) 1,170 Other (569 ) 1,677 (940 ) 632 Translation adjustments — — 11,213 16,068 Plan participants’ contributions — — 516 565 Benefits paid (33,741 ) (37,787 ) (9,798 ) (11,198 ) Curtailments and settlements* — — (100,132 ) (11,841 ) Other (2 ) (195 ) — — Ending balance of the fiscal year 573,143 543,292 124,702 126,987 * Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2023 relate mainly to the termination of the defined benefit pension plan at certain U.K. subsidiaries. Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2024 relate mainly to the termination of the defined benefit pension plan at certain U.S. subsidiaries. |
Effect of asset ceiling [member] | |
Statements [Line Items] | |
Summary of Changes in the Defined Benefit Obligations Present Value of Defined Benefit Obligations | The impact of minimum funding requirement and asset ceiling The impact of minimum funding requirement and asset ceiling for the fiscal years ended March 31, 2023 and 2024 is as follows: |
Changes In The Plan Assets [Member] | |
Statements [Line Items] | |
Summary of Changes in the Defined Benefit Obligations Present Value of Defined Benefit Obligations | The changes in the plan assets for the fiscal years ended March 31, 2023 and 2024 are as follows: Yen in millions Japanese plans Foreign plans Fiscal year ended Fiscal year ended 2023 2024 2023 2024 Beginning balance of the fiscal year 474,933 447,747 198,791 56,987 Interest income 3,649 5,424 2,804 2,592 Remeasurements: Return on plan assets excluding interest income (13,378 ) 32,764 (43,173 ) (2,485 ) Translation adjustments — — 5,760 7,521 Employer contribution 5,650 2,316 3,444 5,381 Plan participants’ contributions — — 516 585 Benefits paid (23,107 ) (23,875 ) (8,240 ) (10,603 ) Curtailments and settlements* — — (102,915 ) (12,085 ) Ending balance of the fiscal year 447,747 464,376 56,987 47,893 * Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2023 relate mainly to the termination of the defined benefit pension plan at certain U.K. subsidiaries. Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2024 relate mainly to the termination of the defined benefit pension plan at certain U.S. subsidiaries. |
Participation and residual li_2
Participation and residual liabilities in the Pictures segment (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary Of Detailed Information On Participation And Residual Liabilities Explanatory | The changes in participation and residual liabilities for the fiscal year ended March 31, 2024 are as follows: Yen in millions Fiscal year ended 2024 Balance at beginning of the fiscal year 423,175 Current portion 230,223 Non-current 192,952 Additional participation and residual liabilities 213,572 Amounts paid during the year (215,967 ) Unpaid amounts reversed during the year (20,212 ) Translation adjustment 57,256 Balance at end of the fiscal year 457,824 Current portion 251,743 Non-current 206,081 |
Other assets and other liabil_2
Other assets and other liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of other assets | Components of other assets as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Advance payments and prepaid expenses 481,080 606,389 Income taxes receivable and other taxes receivable 243,569 253,267 Insurance contract assets 60,751 56,975 Other 197,302 266,109 Total 982,702 1,182,740 Current assets 563,334 669,335 Non-current 419,368 513,405 |
Summary of other liabilities | Components of other liabilities as of March 31, 2023 and 2024 are as follows: Yen in millions March 31 2023 Restated 2024 Contract liabilities 508,454 534,432 Accrued short-term employee benefits 394,948 477,737 Refund liabilities 197,836 218,465 Taxes payable other than income taxes 185,230 167,244 Accrued expenses 171,345 244,784 Insurance contract liabilities 145,057 162,344 Other long-term employee benefit obligations 64,684 91,251 Product warranties 26,167 24,753 Other 127,252 147,765 Total 1,820,973 2,068,775 Current liabilities 1,693,380 1,906,396 Non-current 127,593 162,379 |
Summary of changes in product warranties | The changes in product warranties for the fiscal year ended March 31, 2024 are as follows: Yen in millions Fiscal year ended 2024 Balance at beginning of the fiscal year 26,167 Additional product warranties 21,824 Amounts used during the year (20,469 ) Unused amounts reversed during the year (5,238 ) Translation adjustment 2,469 Balance at end of the fiscal year 24,753 |
Stockholders' equity (Tables)
Stockholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of classes of share capital | The following table shows the changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2022, 2023 and 2024. All of the shares of common stock of Sony Group Corporation are issued with no par value, and the issued stock was fully paid. Number of shares Fiscal year ended March 31 2022 2023 2024 Balance at beginning of the fiscal year 1,261,058,781 1,261,081,781 1,261,081,781 Issuance of new shares 23,000 — 150,108 Balance at end of the fiscal year 1,261,081,781 1,261,081,781 1,261,231,889 |
Summary of dividends | Dividends whose record date falls in the fiscal years ended March 31, 2023 and 2024, and whose effective date falls in the subsequent period are as follows: (Resolution) Type of shares Total amount of dividends (Yen in millions) Source of dividends Dividends per share (Yen) Record date Effective Board of Directors Common stock 49,380 Retained earnings 40.00 March 31, 2023 June 5, 2023 Board of Directors Common stock 54,965 Retained earnings 45.00 March 31, 2024 June 10, 2024 |
Summary Of Changes In Accumulated Other Comprehensive Income By Item Explanatory | Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Balance at April 1, 2021 Other Transfer to Balance at March 31, 2022 Changes in equity instruments measured at fair value through other comprehensive income 139,622 (106,426 ) (5,784 ) 27,412 Changes in debt instruments measured at fair value through other comprehensive income 1,264,737 (416,904 ) — 847,833 Cash flow hedges 1,299 4,735 — 6,034 Remeasurement of defined benefit pension plans — 33,641 (33,641 ) — Exchange differences on translating foreign operations 113,901 223,777 — 337,678 Insurance finance income (88 ) 599 — 511 Share of other comprehensive income of investments accounted for using the equity method 786 2,078 — 2,864 Total 1,520,257 (258,500 ) (39,425 ) 1,222,332 Yen in millions Balance at April 1, Cumulative Restated April 1, Restated other Transfer Restated March 31, Changes in equity instruments measured at fair value through other comprehensive income 27,412 — 27,412 (36,862 ) 298 (9,152 ) Changes in debt instruments measured at fair value through other comprehensive income 847,833 11,204 859,037 (819,192 ) — 39,845 Cash flow hedges 6,034 — 6,034 12,379 — 18,413 Remeasurement of defined benefit pension plans — — — 18,891 (18,891 ) — Exchange differences on translating foreign operations 337,678 — 337,678 175,525 — 513,203 Insurance finance income (expenses) 511 (1,911,861 ) (1,911,350 ) 727,716 — (1,183,634 ) Share of other comprehensive income of investments accounted for using the equity method 2,864 — 2,864 3,699 — 6,563 Other — 336 336 (144 ) — 192 Total 1,222,332 (1,900,321 ) (677,989 ) 82,012 (18,593 ) (614,570 ) Yen in millions Balance at April 1, 2023 Other Transfer to Balance at March 31, 2024 Changes in equity instruments measured at fair value through other comprehensive (9,152 ) (53,814 ) (12,326 ) (75,292 ) Changes in debt instruments measured at fair value through other comprehensive 39,845 (704,636 ) — (664,791 ) Cash flow hedges 18,413 1,352 — 19,765 Remeasurement of defined benefit pension plans — 25,875 (25,875 ) — Exchange differences on translating foreign operations 513,203 439,490 — 952,693 Insurance finance income (expenses) (1,183,634 ) 563,396 — (620,238 ) Share of other comprehensive income of investments accounted for using the equity 6,563 5,348 (20 ) 11,891 Other 192 (283 ) — (91 ) Total (614,570 ) 276,728 (38,221 ) (376,063 ) |
Summary of analysis of other comprehensive income by item | Each component of other comprehensive income and the related tax effect including noncontrolling interests for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: Yen in millions Fiscal year ended March 31 Comprehensive income components 2022 2023 Restated 2024 Items that will not be reclassified to profit or loss Changes in equity instruments measured at fair value through other comprehensive income Amount incurred during the year (139,511 ) (45,708 ) (70,838 ) Total before tax (139,511 ) (45,708 ) (70,838 ) Tax expense or (benefit) 33,085 8,846 17,024 Net of tax (106,426 ) (36,862 ) (53,814 ) Remeasurement of defined benefit pension plans Amount incurred during the year 43,134 27,136 37,225 Total before tax 43,134 27,136 37,225 Tax expense or (benefit) (9,493 ) (8,245 ) (11,350 ) Net of tax 33,641 18,891 25,875 Share of other comprehensive income of investments accounted for using the equity method Amount incurred during the year 869 197 704 Total before tax 869 197 704 Tax expense or (benefit) (292 ) (52 ) (91 ) Net of tax 577 145 613 Total (72,208 ) (17,826 ) (27,326 ) Yen in millions Fiscal year ended March 31 Comprehensive income components 2022 2023 Restated 2024 Items that may be reclassified subsequently to profit or loss Changes in debt instruments measured at fair value through other comprehensive income Amount incurred during the year (572,692 ) (1,132,497 ) (973,877 ) Reclassification to profit or loss (6,408 ) (5,300 ) (4,713 ) Total before tax (579,100 ) (1,137,797 ) (978,590 ) Tax expense or (benefit) 162,196 318,605 273,954 Net of tax (416,904 ) (819,192 ) (704,636 ) Cash flow hedges Amount incurred during the year (7,703 ) (12,975 ) (15,032 ) Reclassification to profit or loss 14,529 30,813 16,982 Total before tax 6,826 17,838 1,950 Tax expense or (benefit) (2,091 ) (5,459 ) (598 ) Net of tax 4,735 12,379 1,352 Insurance finance income (expenses) Amount incurred during the year 807 1,010,717 782,495 Reclassification to profit or loss (10 ) — — Total before tax 797 1,010,717 782,495 Tax expense or (benefit) (198 ) (283,001 ) (219,099 ) Net of tax 599 727,716 563,396 Exchange differences on translating foreign operations Amount incurred during the year 227,017 177,645 441,943 Reclassification to profit or loss (742 ) 630 463 Total before tax 226,275 178,275 442,406 Tax expense or (benefit) — — — Net of tax 226,275 178,275 442,406 Share of other comprehensive income of investments accounted for using the equity method Amount incurred during the year 1,501 3,554 4,735 Reclassification to profit or loss — — — Total before tax 1,501 3,554 4,735 Tax expense or (benefit) — — — Net of tax 1,501 3,554 4,735 Other Amount incurred during the year — (200 ) (393 ) Reclassification to profit or loss — — — Total before tax — (200 ) (393 ) Tax expense or (benefit) — 56 110 Net of tax — (144 ) (283 ) Total (183,794 ) 102,588 306,970 Total other comprehensive income (256,002 ) 84,762 279,644 |
Stock-based compensation plans
Stock-based compensation plans (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of the Black Scholes Option Pricing Model | 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, 2022, 2023 and 2024 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Fiscal year ended March 31 2022 2023 2024 Weighted-average assumptions Share price at the grant date 14,361 yen 11,389 yen 12,898 yen Risk-free interest rate 0.60 % 1.88 % 2.23 % Expected lives 5.33 years 5.46 years 5.61 years Expected volatility* 22.47 % 26.55 % 27.25 % Expected dividends 0.29 % 0.47 % 0.49 % * Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. |
Summary of the Stock Option Plan | A summary of the activities regarding the stock option plan during the fiscal years ended March 31, 2022, 2023 and 2024 is as follows: Fiscal year ended March 31 2022 2023 2024 Number of shares Weighted- average exercise price Number of shares Weighted- average exercise price Number of shares Weighted- average exercise price Yen Yen Yen Outstanding at beginning of the fiscal year 14,022,400 6,653 16,544,300 9,397 19,691,500 10,312 Granted 4,876,400 14,188 4,744,300 10,979 2,438,100 12,663 Exercised 1,944,900 5,313 1,260,800 5,565 2,121,700 6,795 Forfeited or expired 409,600 9,484 336,300 12,654 446,000 13,301 Outstanding at end of the fiscal year 16,544,300 9,397 19,691,500 10,312 19,561,900 11,652 Exercisable at end of the fiscal year 7,044,700 5,883 9,683,000 8,033 11,881,900 10,831 |
Summary of Unexercised Stock Acquisition Rights | A summary of unexercised stock acquisition rights as of March 31, 2022, 2023 and 2024 is as follows: Series Date of grant Exercise term Exercise Outstanding at end of the fiscal year (shares) 2022 2023 2024 24 th December 4, 2012 December 4, 2013 to December 3, 2022 ¥ 932 14,700 — — 25 th December 4, 2012 December 4, 2013 to December 3, 2022 $ 11.23 77,900 — — 26 th November 20, 2013 November 20, 2014 to November 19, 2023 ¥ 2,007 47,000 14,400 — 27 th November 20, 2013 November 20, 2014 to November 19, 2023 $ 20.01 127,300 110,700 — 28 th November 20, 2014 November 20, 2015 to November 19, 2024 ¥ 2,410.5 190,900 132,500 83,500 29 th November 20, 2014 November 20, 2015 to November 19, 2024 $ 20.67 154,100 135,500 122,700 30 th November 19, 2015 November 19, 2016 to November 18, 2025 ¥ 3,404 252,600 186,900 89,000 31 st November 19, 2015 November 19, 2016 to November 18, 2025 $ 27.51 170,800 148,200 131,300 32 nd November 22, 2016 November 22, 2017 to November 21, 2026 ¥ 3,364 516,300 390,400 231,400 33 rd November 22, 2016 November 22, 2017 to November 21, 2026 $ 31.06 367,900 330,500 286,100 34 th November 21, 2017 November 21, 2018 to November 20, 2027 ¥ 5,231 572,500 434,200 280,200 35 th November 21, 2017 November 21, 2018 to November 20, 2027 $ 45.73 676,400 620,500 505,700 36 th February 28, 2018 February 28, 2019 to February 27, 2028 ¥ 5,442 4,500 3,900 1,500 38 th November 20, 2018 November 20, 2019 to November 19, 2028 ¥ 6,440 977,800 839,900 596,700 39 th November 20, 2018 November 20, 2019 to November 19, 2028 $ 56.22 826,800 760,500 654,300 40 th November 20, 2019 November 20, 2020 to November 19, 2029 ¥ 6,705 1,389,700 1,210,100 874,600 41 st November 20, 2019 November 20, 2020 to November 19, 2029 $ 60.99 1,190,800 1,076,300 916,400 42 nd April 17, 2020 April 17, 2021 to April 16, 2030 $ 63.75 13,300 13,300 — 43 rd November 18, 2020 November 18, 2021 to November 17, 2030 ¥ 9,237 2,193,000 2,060,400 1,654,000 44 th November 18, 2020 November 18, 2021 to November 17, 2030 $ 87.48 1,974,800 1,862,100 1,714,600 45 th November 18, 2021 November 18, 2022 to November 17, 2031 ¥ 14,350 2,399,100 2,367,500 2,331,200 46 th November 18, 2021 November 18, 2022 to November 17, 2031 $ 124.90 2,391,100 2,277,100 2,137,800 47 th November 16, 2022 November 16, 2023 to November 15, 2032 ¥ 11,390 — 2,427,100 2,401,200 48 th November 16, 2022 November 16, 2023 to November 15, 2032 $ 77.89 — 2,289,500 2,124,000 49 th November 27, 2023 November 27, 2024 to November 26, 2033 ¥ 12,942 — — 1,294,200 50 th November 27, 2023 November 27, 2024 to November 26, 2033 $ 85.50 — — 1,131,500 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Receivables from contracts with customers [abstract] | |
Summary 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 April 1 March 31 2022 2023 2024 Receivables from contracts with customers *1 1,382,377 1,679,106 1,931,631 Contract assets *2 16,785 19,355 17,820 Contract liabilities *3 366,227 508,454 534,432 *1 Receivables from contracts with customers are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other financial assets,” non-current. *2 Contract assets are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other non-current *3 Contract liabilities are included in the consolidated statements of financial position as “Other current liabilities” and “Other non-current |
Summary of the amount of cumulative revenue | Yen in millions March 31 2023 2024 Pictures — Motion Pictures and Television Productions *1 796,690 813,790 Pictures — Media Networks 8,120 10,027 Music *2 140,842 112,609 Others 68,708 58,717 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 The 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. |
Summary of Contract Costs | Contract costs are comprised as follows: Yen in millions March 31 2023 2024 Incremental costs of obtaining a contract 6,110 6,882 |
Supplemental consolidated sta_2
Supplemental consolidated statements of income information (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Analysis of income and expense [abstract] | |
Summary of Other operating expense | Other operating (income) expense, net is comprised of the following: Yen in millions Fiscal year ended March 31 2022 2023 2024 Gain on transfer of GSN Games shares *1 (70,020 ) — — Gain on transfer of a portion of shares of Sony Payment Services *2 — — (19,763 ) (Gain) loss on purchase/sale of interests in subsidiaries and associates, net (4,593 ) (4,318 ) (6,905 ) (Gain) loss on sale, disposal or impairment of assets, net *3 8,316 (417 ) (4,675 ) Other 803 (7,286 ) 1,939 (65,494 ) (12,021 ) (29,404 ) *1 Refer to Note 31. *2 Refer to Note 8. *3 Refer to Notes 9 and 11. |
Financial income and expense (T
Financial income and expense (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of financial income | Financial income Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest income Financial assets measured at AC 6,996 22,399 37,580 Dividends Financial assets measured at FVOCI 2,792 3,488 1,138 Gain on revaluation of equity instruments Financial assets measured at FVPL *2 — — 71,385 Other 9,516 5,171 15,494 Total 19,304 31,058 125,597 |
Summary of financial expenses | Financial expenses Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest expense Financial liabilities measured at AC 6,377 16,016 28,163 Other 8,223 10,382 12,833 Foreign exchange loss, net *1 1,612 14,489 6,989 Loss on revaluation of equity instruments Financial assets measured at FVPL *2 66,177 4,623 — Other 21,751 13,441 17,781 Total 104,140 58,951 65,766 *1 Foreign exchange loss, net includes gains or losses from foreign exchange contracts. *2 Shares of Spotify Technology S.A. (“Spotify”) held by Sony are classified as equity securities required to be measured at fair value through profit or loss. The revaluation of the Spotify shares, net of costs to be paid to Sony’s artists and distributed labels, owned as of March 31, 2022, 2023 and 2024 resulted in an unrealized loss of 45,017 million yen (395 million U.S. dollars), an unrealized loss of 7,787 million yen (58 million U.S. dollars), and an unrealized gain of 64,764 million yen (440 million U.S. dollars), respectively. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Income (loss) before income taxes and the provision for current and deferred income taxes attributable to such income | Income (loss) before income taxes and the provision for current and deferred income taxes attributable to such income are as follows: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Income (loss) before income taxes: 1,117,503 1,274,496 1,268,662 Income tax expenses Current 238,602 304,881 271,045 Deferred (9,505 ) (42,158 ) 17,123 Total income tax expense 229,097 262,723 288,168 |
A reconciliation of the differences between the Japanese statutory tax rate and the 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 2022 2023 Restated 2024 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.2 0.2 0.3 Income tax credits (1.9 ) (3.0 ) (3.3 ) Change in statutory tax rate (0.2 ) (0.1 ) 0.1 Change in unrecognized deferred tax assets (3.7 ) (1.0 ) (2.1 ) Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and affiliates 1.0 1.5 0.9 Lower tax rate applied to life and non-life (0.4 ) (0.9 ) (0.4 ) Foreign income tax differential (5.5 ) (6.0 ) (4.9 ) Recording or reversal of liabilities for uncertain tax positions 0.8 (0.3 ) 0.1 Controlled Foreign Company taxation in Japan (1.8 ) (2.0 ) 0.0 Other 0.5 0.7 0.5 Effective income tax rate 20.5 % 20.6 % 22.7 % |
Schedules of deferred tax assets and liabilities by major cause of their occurrence | The schedules of deferred tax assets and liabilities by major cause of their occurrence are as follows: Yen in millions Fiscal year ended March 31, 2023 Beginning Cumulative Restated Recognized Recognized Changes Recognized Other* Restated Deferred tax assets: Operating loss carryforwards for tax purposes 71,087 — 71,087 (5,756 ) — 10,157 — 5,600 81,088 Defined benefit liabilities 72,565 (3 ) 72,562 5,826 (8,245 ) (28 ) (1,881 ) (1,099 ) 67,135 Amortization including content assets 26,759 — 26,759 (1,675 ) — (25,695 ) — 2,828 2,217 Lease liabilities 96,100 5,330 101,430 12,818 — 221 — 4,378 118,847 Warranty reserves and accrued expenses 141,344 326 141,670 4,070 — 1,599 — 2,643 149,982 Insurance contract liabilities — 179,620 179,620 561,000 (740,620 ) — — — — Inventories 29,546 — 29,546 15,479 — — — (302 ) 44,723 Depreciation 43,189 — 43,189 (3,566 ) — — — 429 40,052 Debt securities measured at FVOCI — — — — 27,581 — — — 27,581 Tax credit carryforwards 38,884 — 38,884 (12,297 ) — 5,792 — 3,845 36,224 Loss allowances 7,748 — 7,748 (1,857 ) — — — 259 6,150 Impairment of investments 9,816 — 9,816 (3,709 ) — — — (55 ) 6,052 Deferred revenue 31,185 — 31,185 22,076 — (2,299 ) — 2,478 53,440 Other 140,594 55,920 196,514 2,361 (2,408 ) 21,427 (985 ) 7,663 224,572 Total deferred tax assets 708,817 241,193 950,010 594,770 (723,692 ) 11,174 (2,866 ) 28,667 858,063 Deferred tax liabilities: Insurance acquisition costs (191,474 ) 191,474 — — — — — — — Insurance contract liabilities (167,337 ) 167,337 — (667,224 ) 457,619 — — 5,886 (203,719 ) Right-of-use (59,566 ) (5,330 ) (64,896 ) (24,637 ) — (208 ) — (6,328 ) (96,069 ) Equity securities measured at FVOCI (15,969 ) — (15,969 ) 923 8,846 — — 1,823 (4,377 ) Equity securities measured at FVPL (53,139 ) — (53,139 ) 31,952 — — — (3,380 ) (24,567 ) Debt securities measured at FVOCI (327,359 ) (3,187 ) (330,546 ) 39,764 291,024 — — (242 ) — Intangible assets acquired through stock exchange offerings (23,949 ) — (23,949 ) — — — — — (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (101,594 ) — (101,594 ) 2,277 — — — (6,639 ) (105,956 ) Undistributed earnings of foreign subsidiaries and affiliates (56,031 ) — (56,031 ) (15,318 ) — — — 1,759 (69,590 ) Investment in M3, Inc. (42,692 ) — (42,692 ) (4,646 ) — — — — (47,338 ) Other (67,610 ) (13,242 ) (80,852 ) 84,297 (52 ) (3,120 ) (159 ) (7,126 ) (7,012 ) Total deferred tax liabilities (1,106,720 ) 337,052 (769,668 ) (552,612 ) 757,437 (3,328 ) (159 ) (14,247 ) (582,577 ) * Other mainly consists of exchange differences on translating foreign operations. Yen in millions Fiscal year ended March 31, 2024 Beginning Recognized Recognized in Changes Recognized Other* Ending Deferred tax assets: Operating loss carryforwards for tax purposes 81,088 (11,765 ) — 460 — 7,758 77,541 Defined benefit liabilities 67,135 16,287 (11,350 ) — (613 ) 4,088 75,547 Amortization including content assets 2,217 14,293 — — — 3,109 19,619 Lease liabilities 118,847 17,154 — — — (271 ) 135,730 Warranty reserves and accrued expenses 149,982 7,918 — — — 9,502 167,402 Inventories 44,723 2,892 — — — 1,192 48,807 Depreciation 40,052 (663 ) — — — 2,214 41,603 Equity securities measured at FVPL — — 17,230 — — 2,010 19,240 Debt securities measured at FVOCI 27,581 74,703 273,954 — — 6,289 382,527 Tax credit carryforwards 36,224 11,698 — 2,991 — 6,733 57,646 Loss allowances 6,150 3,525 — — — 1,066 10,741 Impairment of investments 6,052 2,279 — — — (551 ) 7,780 Deferred revenue 53,440 (11,697 ) — — — 6,711 48,454 Other 224,572 47,828 (598 ) (7,352 ) (1,005 ) 25,836 289,281 Total deferred tax assets 858,063 174,452 279,236 (3,901 ) (1,618 ) 75,686 1,381,918 Deferred tax liabilities: Insurance contract liabilities (203,719 ) (79,827 ) (219,099 ) — — 2,936 (499,709 ) Right-of-use (96,069 ) (16,775 ) — — — (396 ) (113,240 ) Equity securities measured at FVOCI (4,377 ) 4,389 (206 ) — — 194 — Equity securities measured at FVPL (24,567 ) (24,753 ) — — — (3,014 ) (52,334 ) Intangible assets acquired through stock exchange offerings (23,949 ) — — — — — (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (105,956 ) 3,466 — — — (14,501 ) (116,991 ) Undistributed earnings of foreign subsidiaries and affiliates (69,590 ) (6,856 ) — — — (8,505 ) (84,951 ) Investment in M3, Inc. (47,338 ) (5,287 ) — — — — (52,625 ) Other (7,012 ) (65,932 ) 19 (5,295 ) (20 ) (26,753 ) (104,993 ) Total deferred tax liabilities (582,577 ) (191,575 ) (219,286 ) (5,295 ) (20 ) (50,039 ) (1,048,792 ) * Other mainly consists of exchange differences on translating foreign operations. |
Disclosure of detailed information about temporary difference unused tax losses and unused tax credits [Text Block] | As of March 31, 2023 and 2024, the deductible temporary differences, operating loss carryforwards and tax credit carryforwards for which no deferred tax asset is recognized are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Deductible temporary differences 126,406 134,602 Operating loss carryforwards 1,384,658 1,424,553 Tax credit carryforwards 18,853 16,869 |
Disclosure of detailed information about expiration period of operating loss carryforward | As of March 31, 2023 and 2024, the expected expiration period of the operating loss carryforwards for which no deferred tax asset is recognized are as follows: Yen in millions Fiscal year ended March 31 2023 2024 Within 5 years 602,799 494,989 Over 5 years to 10 years 250,587 274,044 Over 10 years to 15 years 25,786 28,601 Over 15 years 13,245 15,592 No expiration period 492,241 611,327 Total 1,384,658 1,424,553 |
Reconciliation of the differe_2
Reconciliation of the differences between basic and diluted EPS (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Earnings per share | Reconciliation of the differences between basic and diluted EPS for the fiscal years ended March 31, 2022, 2023 and 2024 is as follows: Yen in millions Fiscal year ended March 31 2022 2023 Restated 2024 Net income attributable to Sony Group Corporation’s stockholders 882,178 1,005,277 970,573 Adjustment amount to net income attributable to Sony Group Corporation’s stockholders for diluted EPS computation: Zero coupon convertible bonds 163 51 — Net income attributable to Sony Group Corporation’s stockholders for diluted EPS computation 882,341 1,005,328 970,573 Thousands of shares Fiscal year ended March 31 2022 2023 2024 Weighted-average shares outstanding for basic EPS computation 1,239,299 1,235,701 1,231,242 Effect of dilutive securities: Stock options 5,470 3,617 3,680 Restricted stock units — 29 409 Zero coupon convertible bonds 6,491 2,030 — Weighted-average shares for diluted EPS computation 1,251,260 1,241,377 1,235,331 Yen Fiscal year ended March 31 2022 2023 Restated 2024 Basic EPS 711.84 813.53 788.29 Diluted EPS 705.16 809.85 785.68 |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Disclosure Of Interest And Dividends | (3) Interest and dividends Yen in millions Fiscal year ended March 31 2022 2023 2024 Interest received Financial services revenue 208,170 224,137 244,292 Financial income 6,988 20,872 36,295 Dividends received Financial services revenue 27,075 23,409 52,760 Financial income 2,800 3,488 1,138 Interest paid Financial services expenses 6,607 27,352 74,857 Financial expenses 8,843 11,663 22,667 |
Disclosure of reconciliation of liabilities arising from financing activities | (5) Reconciliation of liabilities arising from financing activities Yen in millions Short-term Long-term Balance as of April 1, 2021 52,537 969,044 Net cash flows from financing activities 408 (163,104 ) Acquisitions through business combinations — 8,346 Non-cash Conversion of convertible bonds — (14,597 ) Obtaining assets by entering into lease contracts — 121,937 Translation adjustment 1,659 35,652 Other 1,487 (6,045 ) Total changes 3,554 (17,811 ) Balance as of March 31, 2022 56,091 951,233 Net cash flows from financing activities 32,391 229,578 Acquisitions through business combinations — 32,009 Non-cash Conversion of convertible bonds — (26,563 ) Obtaining assets by entering into lease contracts — 127,322 Translation adjustment 4,533 22,684 Other (369 ) (13,936 ) Total changes 36,555 371,094 Balance as of March 31, 2023 92,646 1,322,327 Net cash flows from financing activities (18,370 ) 97,026 Acquisitions through business combinations 796 853 Non-cash Obtaining assets by entering into lease contracts — 101,039 Translation adjustment 12,097 76,168 Other 1,133 (11,400 ) Total changes (4,344 ) 263,686 Balance as of March 31, 2024 88,302 1,586,013 |
Disclosure of cash and cash equivalents | (6) Components of cash and cash equivalents Yen in millions March 31 2022 2023 2024 Cash and demand deposits 1,824,912 1,227,541 1,535,476 Time deposits with original maturities of three months or less 72,270 76,452 63,169 Money market funds 71,554 116,607 219,559 Call loans 80,900 60,300 88,909 Total 2,049,636 1,480,900 1,907,113 |
Structured entities (Tables)
Structured entities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Disclosure of unconsolidated structured entities | The risks associated with structured entities in which Sony is involved are limited to the amount recorded in the consolidated statements of financial position and the amount of commitments. Yen in millions March 31, 2023 Presentation in the consolidated statements of financial position Maximum exposure Investments and (Current assets) Investments and (Non-current assets) Other financial assets (Current assets) Securitized products — 401,642 — 401,642 Foreign corporate bonds *1 20,806 186,878 — 207,684 Other investments *2 — 286,066 25,464 332,076 Total 20,806 874,586 25,464 941,402 Yen in millions March 31, 2024 Presentation in the consolidated statements of financial position Maximum exposure Investments and (Current assets) Investments and (Non-current assets) Other financial assets (Current assets) Securitized products — 461,309 — 461,309 Foreign corporate bonds *1 11,365 206,570 — 217,935 Other investments *2 — 456,705 24,836 503,683 Total 11,365 1,124,584 24,836 1,182,927 *1 Foreign corporate bonds primarily include repackaged bonds. *2 Other investments primarily include investment funds. |
Subsidiaries (Tables)
Subsidiaries (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statements [Line Items] | |
Summary of Major Consolidated Subsidiaries | The following table sets forth the major consolidated subsidiaries owned, directly or indirectly, by Sony Group Corporation. Name of company Country of incorporation /residence (As of March 31, 2024) Percentage owned Sony Interactive Entertainment Inc. Japan 100.0 Sony Music Entertainment (Japan) Inc. Japan 100.0 Sony Corporation Japan 100.0 Sony Global Manufacturing & Operations Corporation Japan 100.0 Sony Network Communications Inc. Japan 100.0 Sony Marketing Inc. Japan 100.0 Sony Semiconductor Solutions Corporation Japan 100.0 Sony Semiconductor Manufacturing Corporation Japan 100.0 Sony Storage Media Solutions Corporation Japan 100.0 Sony Financial Group Inc. Japan 100.0 Sony Life Insurance Co., Ltd. Japan 100.0 Sony Bank Inc. Japan 100.0 Sony Assurance Inc. Japan 100.0 Sony Corporation of America U.S.A. 100.0 Sony Interactive Entertainment LLC U.S.A. 100.0 Sony Music Entertainment U.S.A. 100.0 Sony Music Publishing LLC U.S.A. 100.0 Sony Pictures Entertainment Inc. U.S.A. 100.0 Sony Electronics Inc. U.S.A. 100.0 Sony Interactive Entertainment Europe Ltd. U.K. 100.0 Sony Europe B.V. U.K. 100.0 Sony Global Treasury Services Plc U.K. 100.0 Sony Overseas Holding B.V. Netherlands 100.0 Sony (China) Limited China 100.0 Sony EMCS (Malaysia) Sdn. Bhd. Malaysia 100.0 Sony Electronics (Singapore) Pte. Ltd. Singapore 100.0 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Ellation Holdings, Inc [Member] | |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |
Summary Of Purchase Price Allocation | Yen in millions Cash and cash equivalents 8,379 Trade and other receivables, and contract assets 3,714 Inventories 3,295 Right-of-use 4,962 Goodwill 81,250 Content assets 36,266 Other intangible assets 35,697 Other 2,512 Total assets 176,075 Trade and other payables 17,365 Other current liabilities 7,723 Long-term debt 4,386 Deferred tax liabilities 9,408 Other 659 Total liabilities 39,541 |
Bungie [Member] | |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | |
Summary Of Purchase Price Allocation | Yen in millions Cash and cash equivalents 37,800 Trade and other receivables, and contract assets 5,093 Other current assets 3,412 Property, plant and equipment 7,481 Right-of-use 15,540 Goodwill 193,801 Content assets 45,512 Other intangible assets 66,257 Deferred tax assets 7,297 Other 3,564 Total assets 385,757 Trade and other payables 3,060 Other current liabilities 12,195 Long-term debt 30,944 Other 5,699 Total liabilities 51,898 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Disclosure Of Transactions Between Related Parties | Primary account balances and transactions with associates and joint ventures accounted for under the equity method are as follows: Yen in millions March 31 2023 2024 Trade and other accounts receivable Associates 7,779 19,357 Joint ventures 6,326 3,913 Total 14,105 23,270 Other current assets Associates 7,747 8,195 Joint ventures — — Total 7,747 8,195 Accounts payable, trade Associates 1,425 997 Joint ventures 228 265 Total 1,653 1,262 Short-term borrowings Associates 3,124 3,070 Joint ventures 25,218 26,384 Total 28,342 29,454 Lease liabilities and other Associates 74,955 78,102 Joint ventures — — Total 74,955 78,102 Accounts payable for property, plant and equipment Associates 12,050 16 Joint ventures — — Total 12,050 16 Yen in millions Fiscal year ended March 31 2022 2023 2024 Sales Associates 20,385 15,040 14,215 Joint ventures 27,374 30,220 34,199 Total 47,759 45,260 48,414 Purchases Associates 3,271 4,450 6,385 Joint ventures 785 649 723 Total 4,056 5,099 7,108 Lease payments and other Associates 11,180 13,720 15,467 Joint ventures — — — Total 11,180 13,720 15,467 Payments for property, plant and equipment Associates 12,052 20,553 16 Joint ventures — — — Total 12,052 20,553 16 |
Disclosure Of Key Management Personnel Compensation Explanatory | Compensation for key management personnel for the fiscal years ended March 31, 2022, 2023 and 2024 is presented as follows: Yen in millions Fiscal year ended March 31 2022 2023 2024 Short-term employee benefits 1,480 1,831 1,660 Stock-based compensation 1,597 1,928 2,917 Total 3,077 3,759 4,577 |
Subsequent events (Tables)
Subsequent events (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Text Block1 [Abstract] | |
Summary of number of shares to be increased by stock split | 2. Number of shares to be increased by Stock Split (i) Total number of issued shares before stock split: 1,248,619,589 shares (ii) Number of shares to be increased by stock split: 4,994,478,356 shares (iii) Total number of issued shares following stock split: 6,243,097,945 shares (iv) Total number of authorized shares following stock split: 18,000,000,000 shares * Total number of issued shares shown above is based on the total number of issued shares as of April 30, 2024, and may increase by the record date of the stock split due to the exercise of stock acquisition rights. |
Schedule of stock split | 3. Schedule of Stock Split (i) Public notice of record date: September 13, 2024 (ii) Record date: September 30, 2024 (iii) Effective date: October 1, 2024 |
Summary of impact on per share information | Per share information assuming that the stock split was implemented at the beginning of the fiscal year ended March 31, 2022, would be as follows. Yen Fiscal year ended March 31 2022 2023 2024 Basic net income attributable to Sony Group Corporation’s stockholders per share 142.37 162.71 157.66 Diluted net income attributable to Sony Group Corporation’s stockholders per share 141.03 161.97 157.14 |
Basis of preparation - Addition
Basis of preparation - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of reclassifications or changes in presentation [line items] | |||||
Retained earnings | ¥ 6,002,407 | ¥ 5,092,442 | ¥ 4,170,417 | ||
Total equity | 7,756,105 | 6,657,150 | 5,706,582 | ¥ 7,197,249 | ¥ 6,724,339 |
Accumulated other comprehensive income | ¥ (376,063) | ¥ (614,570) | (677,989) | ||
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||||
Disclosure of reclassifications or changes in presentation [line items] | |||||
Total equity | ¥ (1,490,667) | ||||
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | IFRS 17 [member] | |||||
Disclosure of reclassifications or changes in presentation [line items] | |||||
Retained earnings | 409,654 | ||||
Total equity | (1,490,667) | ||||
Accumulated other comprehensive income | ¥ (1,900,321) |
Summary of material accountin_3
Summary of material accounting policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2024 | |
Bottom of range [member] | Patent rights, know-how, license agreements, trademarks and software [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 3 years |
Bottom of range [member] | Customer relationships, television carriage contracts, artist contracts, music distribution rights and game content [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 2 years |
Bottom of range [member] | Music catalogues [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 5 years |
Bottom of range [member] | Buildings [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of property plant and equipment | 2 years |
Bottom of range [member] | Machinery and equipment [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of property plant and equipment | 2 years |
Top of range [member] | Patent rights, know-how, license agreements, trademarks and software [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 10 years |
Top of range [member] | Customer relationships, television carriage contracts, artist contracts, music distribution rights and game content [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 15 years |
Top of range [member] | Music catalogues [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of intangible assets other than goodwill | 44 years |
Top of range [member] | Buildings [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of property plant and equipment | 50 years |
Top of range [member] | Machinery and equipment [member] | |
Disclosure Of Significant Acounting Policies [Line Items] | |
Useful life of property plant and equipment | 10 years |
Business segment information -
Business segment information - Summary of components of segment sales and financial services revenue (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | ¥ 13,020,768 | ¥ 10,974,373 | ¥ 9,921,513 |
Game & Network Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 4,267,734 | 3,644,598 | 2,739,763 |
Music [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,618,958 | 1,380,632 | 1,116,949 |
Pictures [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,493,050 | 1,369,422 | 1,238,911 |
Entertainment, Technology & Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 2,453,718 | 2,476,025 | 2,339,186 |
Imaging & Sensing Solutions [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,602,738 | 1,402,187 | 1,076,424 |
Financial Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,769,954 | 889,082 | 1,533,829 |
Corporate and elimination [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | (274,754) | (275,196) | (222,332) |
All Other [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 89,370 | 87,623 | 98,783 |
Customer [member] | Game & Network Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 4,172,994 | 3,538,533 | 2,674,356 |
Customer [member] | Music [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,594,955 | 1,364,815 | 1,100,532 |
Customer [member] | Pictures [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,486,717 | 1,364,887 | 1,236,399 |
Customer [member] | Entertainment, Technology & Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 2,414,946 | 2,436,739 | 2,297,886 |
Customer [member] | Imaging & Sensing Solutions [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,503,906 | 1,301,481 | 992,200 |
Customer [member] | Financial Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 1,760,731 | 878,532 | 1,524,811 |
Customer [member] | All Other [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 75,784 | 72,338 | 82,264 |
Intersegment [member] | Game & Network Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 94,740 | 106,065 | 65,407 |
Intersegment [member] | Music [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 24,003 | 15,817 | 16,417 |
Intersegment [member] | Pictures [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 6,333 | 4,535 | 2,512 |
Intersegment [member] | Entertainment, Technology & Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 38,772 | 39,286 | 41,300 |
Intersegment [member] | Imaging & Sensing Solutions [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 98,832 | 100,706 | 84,224 |
Intersegment [member] | Financial Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | 9,223 | 10,550 | 9,018 |
Intersegment [member] | All Other [member] | |||
Disclosure of operating segments [line items] | |||
Total sales and financial services revenue | ¥ 13,586 | ¥ 15,285 | ¥ 16,519 |
Business segment information _2
Business segment information - Summary of components of segment profit or loss (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of operating segments [line items] | |||
Operating income (loss) | ¥ 1,208,831 | ¥ 1,302,389 | ¥ 1,202,339 |
Financial income | 125,597 | 31,058 | 19,304 |
Financial expenses | (65,766) | (58,951) | (104,140) |
Income before income taxes | 1,268,662 | 1,274,496 | 1,117,503 |
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 1,265,664 | 1,359,010 | 1,311,046 |
Corporate and elimination [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | (56,833) | (56,621) | (108,707) |
Game & Network Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 290,184 | 250,006 | 346,089 |
Music [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 301,662 | 263,107 | 210,933 |
Pictures [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 117,702 | 119,255 | 217,393 |
Entertainment, Technology & Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 187,399 | 179,461 | 212,942 |
Imaging & Sensing Solutions [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 193,541 | 212,214 | 155,597 |
Financial Services [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | 173,576 | 318,118 | 150,111 |
All Other [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating income (loss) | ¥ 1,600 | ¥ 16,849 | ¥ 17,981 |
Business segment information _3
Business segment information - Summary of components of other significant items (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | ¥ 10,502 | ¥ 24,449 | ¥ 23,646 |
Depreciation and amortization: | |||
Depreciation and amortization | 1,144,981 | 1,004,590 | 904,470 |
Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | 10,502 | 24,449 | 23,646 |
Depreciation and amortization: | |||
Depreciation and amortization | 1,130,842 | 985,969 | 882,005 |
Corporate and elimination [member] | |||
Depreciation and amortization: | |||
Depreciation and amortization | 14,139 | 18,621 | 22,465 |
Game & Network Services [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | 922 | 144 | 14 |
Depreciation and amortization: | |||
Depreciation and amortization | 123,065 | 87,201 | 61,219 |
Music [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | 6,091 | 7,063 | 4,073 |
Depreciation and amortization: | |||
Depreciation and amortization | 84,576 | 67,240 | 61,465 |
Pictures [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | (173) | 515 | (664) |
Depreciation and amortization: | |||
Depreciation and amortization | 541,106 | 506,697 | 396,251 |
Entertainment, Technology & Services [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | 777 | 1,076 | 1,103 |
Depreciation and amortization: | |||
Depreciation and amortization | 101,676 | 97,448 | 91,759 |
Imaging & Sensing Solutions [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | (4,155) | (1,128) | (603) |
Depreciation and amortization: | |||
Depreciation and amortization | 247,900 | 196,674 | 172,842 |
Financial Services [member] | Operating segments [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | (55) | ||
Financial Services, including deferred insurance acquisition costs [member] | Operating segments [member] | |||
Depreciation and amortization: | |||
Depreciation and amortization | 27,689 | 26,333 | 94,169 |
All Other [member] | |||
Share of profit (loss) of investments accounted for using the equity method: | |||
Share of profit (loss) of investments | 7,095 | 16,779 | 19,723 |
Depreciation and amortization: | |||
Depreciation and amortization | ¥ 4,830 | ¥ 4,376 | ¥ 4,300 |
Business segment information _4
Business segment information - Summary of sales and financial services revenue to external customers by product category (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Sales and financial services revenue: | |||
Total sales and financial services revenue | ¥ 13,020,768 | ¥ 10,974,373 | ¥ 9,921,513 |
All Other [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 89,370 | 87,623 | 98,783 |
All Other [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 75,784 | 72,338 | 82,264 |
Operating segments [member] | Game & Network Services [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 4,267,734 | 3,644,598 | 2,739,763 |
Operating segments [member] | Game & Network Services [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 4,172,994 | 3,538,533 | 2,674,356 |
Operating segments [member] | Game & Network Services [member] | Customer [member] | Digital Software and Add-on Content [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,934,586 | 1,523,045 | 1,424,459 |
Operating segments [member] | Game & Network Services [member] | Customer [member] | Network Services [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 545,537 | 464,676 | 409,355 |
Operating segments [member] | Game & Network Services [member] | Customer [member] | Hardware and Others [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,692,871 | 1,550,812 | 840,542 |
Operating segments [member] | Music [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,618,958 | 1,380,632 | 1,116,949 |
Operating segments [member] | Music [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,594,955 | 1,364,815 | 1,100,532 |
Operating segments [member] | Music [member] | Customer [member] | Recorded Music — Streaming [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 709,453 | 598,868 | 462,368 |
Operating segments [member] | Music [member] | Customer [member] | Recorded Music — Others [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 356,646 | 286,270 | 206,412 |
Operating segments [member] | Music [member] | Customer [member] | Music Publishing [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 326,727 | 276,665 | 200,334 |
Operating segments [member] | Music [member] | Customer [member] | Visual Media and Platform [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 202,129 | 203,012 | 231,418 |
Operating segments [member] | Pictures [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,493,050 | 1,369,422 | 1,238,911 |
Operating segments [member] | Pictures [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,486,717 | 1,364,887 | 1,236,399 |
Operating segments [member] | Pictures [member] | Customer [member] | Motion Pictures [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 542,044 | 464,043 | 518,840 |
Operating segments [member] | Pictures [member] | Customer [member] | Television Productions [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 551,035 | 536,250 | 419,494 |
Operating segments [member] | Pictures [member] | Customer [member] | Media Networks [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 393,638 | 364,594 | 298,065 |
Operating segments [member] | Entertainment, Technology & Services [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 2,453,718 | 2,476,025 | 2,339,186 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 2,414,946 | 2,436,739 | 2,297,886 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | Televisions [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 624,264 | 733,251 | 858,837 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | Audio and Video [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 412,067 | 391,608 | 326,704 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | Still and Video Cameras [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 643,429 | 565,018 | 414,898 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | Mobile Communications [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 299,905 | 356,771 | 365,864 |
Operating segments [member] | Entertainment, Technology & Services [member] | Customer [member] | Other [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 435,281 | 390,091 | 331,583 |
Operating segments [member] | Imaging & Sensing Solutions [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,602,738 | 1,402,187 | 1,076,424 |
Operating segments [member] | Imaging & Sensing Solutions [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,503,906 | 1,301,481 | 992,200 |
Operating segments [member] | Financial Services [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,769,954 | 889,082 | 1,533,829 |
Operating segments [member] | Financial Services [member] | Customer [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | 1,760,731 | 878,532 | 1,524,811 |
Corporate [member] | |||
Sales and financial services revenue: | |||
Total sales and financial services revenue | ¥ 10,735 | ¥ 17,048 | ¥ 13,065 |
Business segment information _5
Business segment information - Summary of sales and financial services revenue attributed to countries and areas based on location of external customers and non-current assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | ¥ 13,020,768 | ¥ 10,974,373 | ¥ 9,921,513 |
Non-current assets | 6,056,850 | 5,223,763 | |
Japan [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 3,027,526 | 2,126,508 | 2,764,321 |
Non-current assets | 2,036,616 | 1,875,354 | |
United States [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 3,751,239 | 3,401,402 | 2,766,021 |
Non-current assets | 2,856,914 | 2,417,228 | |
Europe [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 2,632,963 | 2,190,311 | 1,870,091 |
Non-current assets | 682,007 | 603,338 | |
China [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 1,000,907 | 855,437 | 771,006 |
Non-current assets | 32,154 | 34,322 | |
Asia Pacific [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 1,659,776 | 1,563,414 | 1,149,261 |
Non-current assets | 222,398 | 186,359 | |
Other Areas [Member] | |||
Disclosure of geographical areas [line items] | |||
Sales and financial services revenue: | 948,357 | 837,301 | ¥ 600,813 |
Non-current assets | ¥ 226,761 | ¥ 107,162 |
Financial instruments - Summary
Financial instruments - Summary of Carrying Amount of Assets and Liabilities by Measurement Method (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Assets: | |||
Total assets | ¥ 22,506,844 | ¥ 21,266,159 | |
Current assets | 2,669,709 | 2,196,054 | |
Non-current assets | 19,837,135 | 19,070,105 | |
Liabilities: | |||
Total liabilities | 10,326,710 | 9,379,539 | |
Current liabilities | 7,881,832 | 7,240,263 | |
Non-current liabilities | 2,444,878 | 2,139,276 | |
Short Term Borrowing [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 1,812,605 | 1,914,934 | |
Current Portion of Long Term Debt [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 217,711 | 187,942 | |
Trade Payables [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 1,803,920 | 1,701,706 | |
Other Payables [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 221,542 | 162,475 | |
Deposits from Customers In The Banking Business [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | [1] | 3,845,607 | 3,306,981 |
Long Term Debt [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 2,058,117 | 1,767,696 | |
Other Financial Liabilities [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 65,790 | 61,128 | |
Contingent consideration [member] | |||
Liabilities: | |||
Financial liabilities required to be measured at FVPL | 50,343 | 51,512 | |
Redeemable Non Controlling Interests [Member] | |||
Liabilities: | |||
Financial liabilities designated to be measured at FVPL | 54,028 | 47,326 | |
Deferred Consideration [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | [2] | 107,368 | 87,937 |
Investment Contract Liabilities [Member] | |||
Liabilities: | |||
Financial liabilities required to be measured at AC | 60,392 | 55,779 | |
Derivatives [member] | |||
Liabilities: | |||
Financial liabilities required to be measured at FVPL | 29,287 | 34,123 | |
Trade receivables [member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | [3] | 2,140,220 | 1,754,034 |
Other Receivabels [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | [3] | 5,971 | 2,712 |
Derivatives [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at fair value through profit or loss ("FVPL") | 72,423 | 70,144 | |
Housing Loans in The Banking Business [member] | Investments and Advances in the Financial Services Segment [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 3,574,468 | 3,129,393 | |
Time Deposit [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 48,416 | 36,671 | |
Other Loans [member] | Investments and Advances in the Financial Services Segment [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 16,892 | 17,854 | |
Security deposit [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 107,316 | 95,813 | |
Non-current other receivables in the Pictures segment [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 155,525 | 152,619 | |
Debt securities [member] | Investments and Advances in the Financial Services Segment [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | 396,481 | 337,374 | |
Financial assets required to be measured at fair value through profit or loss ("FVPL") | 1,295,877 | 1,059,718 | |
Financial assets designated to be measured at FVPL | 1,243,109 | 1,486,566 | |
Financial assets required to be measured at fair value through other comprehensive income ("FVOCI") | 9,593,519 | 10,406,699 | |
Debt securities [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at fair value through profit or loss ("FVPL") | 22,388 | 20,905 | |
Financial assets required to be measured at fair value through other comprehensive income ("FVOCI") | 140 | 125 | |
Equity securities [member] | Investments and Advances in the Financial Services Segment [Member] | |||
Assets: | |||
Financial assets required to be measured at fair value through profit or loss ("FVPL") | 3,210,296 | 2,123,062 | |
Financial assets designated to be measured at FVOCI | 7,305 | 5,453 | |
Equity securities [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at fair value through profit or loss ("FVPL") | 258,939 | 125,590 | |
Financial assets designated to be measured at FVOCI | 309,710 | 421,845 | |
Other [member] | Other Financial Assets [Member] | |||
Assets: | |||
Financial assets required to be measured at amortized cost ("AC") | ¥ 47,849 | ¥ 19,582 | |
[1]Deposits from customers in the banking business include the non-current portion that is recorded within other financial liabilities in the consolidated statements of financial position.[2]Deferred consideration is recorded within other financial liabilities or trade and other payables in the consolidated statements of financial position.[3]The amounts of trade and other receivables exclude contract assets within trade and other receivables, and contract assets in the consolidated statements of financial position. |
Financial instruments - Summa_2
Financial instruments - Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Contingent consideration [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | ¥ 50,343 | ¥ 51,512 |
Redeemable Non Controlling Interests [Member] | ||
Liabilities: | ||
Financial liabilities designated to be measured at FVPL | 54,028 | 47,326 |
Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 16,013,706 | 15,720,107 |
Liabilities: | ||
Total liabilities | 133,658 | 132,961 |
Recurring fair value measurement [member] | Contingent consideration [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 50,343 | 51,512 |
Recurring fair value measurement [member] | Redeemable Non Controlling Interests [Member] | ||
Liabilities: | ||
Financial liabilities designated to be measured at FVPL | 54,028 | 47,326 |
Recurring fair value measurement [member] | Interest rate swap contract [member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 6,450 | 5,656 |
Recurring fair value measurement [member] | Foreign Exchange Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 17,493 | 19,876 |
Recurring fair value measurement [member] | Equity Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 5,344 | 8,591 |
Recurring fair value measurement [member] | Debt securities [member] | Japanese National Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 423,129 | 422,739 |
Financial assets designated to be measured at FVPL | 1,021,309 | 1,285,920 |
Financial assets required to be measured at FVOCI | 7,057,395 | 7,901,817 |
Recurring fair value measurement [member] | Debt securities [member] | Japanese local government bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 1,846 | 600 |
Financial assets designated to be measured at FVPL | 13,945 | 16,038 |
Financial assets required to be measured at FVOCI | 48,712 | 45,458 |
Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 27,316 | 16,910 |
Financial assets designated to be measured at FVPL | 3,302 | 3,315 |
Financial assets required to be measured at FVOCI | 882,652 | 911,163 |
Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 231,688 | 203,493 |
Financial assets designated to be measured at FVPL | 39,472 | 35,895 |
Financial assets required to be measured at FVOCI | 1,221,208 | 1,145,709 |
Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 14,914 | 8,892 |
Financial assets designated to be measured at FVPL | 165,081 | 145,398 |
Financial assets required to be measured at FVOCI | 301,119 | 332,389 |
Recurring fair value measurement [member] | Debt securities [member] | Securitized Products [Member] | ||
Assets: | ||
Financial assets required to be measured at FVOCI | 82,573 | 70,288 |
Recurring fair value measurement [member] | Debt securities [member] | Investment funds [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 619,372 | 427,989 |
Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 3,469,235 | 2,248,652 |
Financial assets designated to be measured at FVOCI | 317,015 | 427,298 |
Recurring fair value measurement [member] | Derivatives [member] | Interest rate swap contract [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 49,619 | 43,844 |
Recurring fair value measurement [member] | Derivatives [member] | Foreign Exchange Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 20,425 | 21,318 |
Recurring fair value measurement [member] | Derivatives [member] | Equity Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 2,379 | 4,982 |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 110,509 | 78,990 |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese National Government Bonds [Member] | ||
Assets: | ||
Financial assets designated to be measured at FVPL | 4,302 | 1,001 |
Financial assets required to be measured at FVOCI | 300 | |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese local government bonds [Member] | ||
Assets: | ||
Financial assets designated to be measured at FVPL | 5,310 | 2,010 |
Financial assets required to be measured at FVOCI | 550 | 1,369 |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets designated to be measured at FVPL | 3,302 | |
Financial assets required to be measured at FVOCI | 11,414 | 7,016 |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets designated to be measured at FVPL | 7,390 | |
Investments And Advances In The Financial Services Segment Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets designated to be measured at FVPL | 49,578 | 21,227 |
Financial assets required to be measured at FVOCI | 28,363 | 46,367 |
Other Financial Assets Current [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 22,162 | 25,398 |
Other Financial Assets Current [Member] | Recurring fair value measurement [member] | Derivatives [member] | Interest rate swap contract [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 1,009 | 438 |
Other Financial Assets Current [Member] | Recurring fair value measurement [member] | Derivatives [member] | Foreign Exchange Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 18,774 | 19,978 |
Other Financial Assets Current [Member] | Recurring fair value measurement [member] | Derivatives [member] | Equity Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 2,379 | 4,982 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 15,239,597 | 15,002,508 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese National Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 423,129 | 422,739 |
Financial assets designated to be measured at FVPL | 1,017,007 | 1,284,919 |
Financial assets required to be measured at FVOCI | 7,057,095 | 7,901,817 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese local government bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 1,846 | 600 |
Financial assets designated to be measured at FVPL | 8,635 | 14,028 |
Financial assets required to be measured at FVOCI | 48,162 | 44,089 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 27,296 | 16,872 |
Financial assets designated to be measured at FVPL | 3,315 | |
Financial assets required to be measured at FVOCI | 871,238 | 904,147 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 231,688 | 203,493 |
Financial assets designated to be measured at FVPL | 32,082 | 35,895 |
Financial assets required to be measured at FVOCI | 1,221,068 | 1,145,584 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 11,981 | 5,515 |
Financial assets designated to be measured at FVPL | 115,503 | 124,171 |
Financial assets required to be measured at FVOCI | 272,756 | 286,022 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Securitized Products [Member] | ||
Assets: | ||
Financial assets required to be measured at FVOCI | 82,573 | 70,288 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Debt securities [member] | Investment funds [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 599,937 | 410,499 |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 3,210,296 | 2,123,062 |
Financial assets designated to be measured at FVOCI | 7,305 | 5,453 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 641,438 | 613,211 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 20 | 38 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVOCI | 140 | 125 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 2,933 | 3,377 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Debt securities [member] | Investment funds [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 19,435 | 17,490 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 258,939 | 125,590 |
Financial assets designated to be measured at FVOCI | 309,710 | 421,845 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Derivatives [member] | Interest rate swap contract [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 48,610 | 43,406 |
Other Financial Assets Non Current [Member] | Recurring fair value measurement [member] | Derivatives [member] | Foreign Exchange Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 1,651 | 1,340 |
Other Financial Liabilities Current [Member] | Recurring fair value measurement [member] | ||
Liabilities: | ||
Total liabilities | 48,240 | 42,487 |
Other Financial Liabilities Current [Member] | Recurring fair value measurement [member] | Contingent consideration [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 26,193 | 14,790 |
Other Financial Liabilities Current [Member] | Recurring fair value measurement [member] | Interest rate swap contract [member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 406 | 427 |
Other Financial Liabilities Current [Member] | Recurring fair value measurement [member] | Foreign Exchange Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 16,297 | 18,679 |
Other Financial Liabilities Current [Member] | Recurring fair value measurement [member] | Equity Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 5,344 | 8,591 |
Other Financial Liabilities Non current [Member] | Recurring fair value measurement [member] | ||
Liabilities: | ||
Total liabilities | 85,418 | 90,474 |
Other Financial Liabilities Non current [Member] | Recurring fair value measurement [member] | Contingent consideration [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 24,150 | 36,722 |
Other Financial Liabilities Non current [Member] | Recurring fair value measurement [member] | Redeemable Non Controlling Interests [Member] | ||
Liabilities: | ||
Financial liabilities designated to be measured at FVPL | 54,028 | 47,326 |
Other Financial Liabilities Non current [Member] | Recurring fair value measurement [member] | Interest rate swap contract [member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 6,044 | 5,229 |
Other Financial Liabilities Non current [Member] | Recurring fair value measurement [member] | Foreign Exchange Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 1,196 | 1,197 |
Level 1 [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 3,558,852 | 2,370,306 |
Liabilities: | ||
Total liabilities | 3,428 | 3,321 |
Level 1 [Member] | Recurring fair value measurement [member] | Equity Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 3,428 | 3,321 |
Level 1 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 39,363 | 30,100 |
Level 1 [Member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 3,451,655 | 2,236,646 |
Financial assets designated to be measured at FVOCI | 67,834 | 103,270 |
Level 1 [Member] | Recurring fair value measurement [member] | Derivatives [member] | Equity Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 290 | |
Level 2 [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 11,922,016 | 12,709,655 |
Liabilities: | ||
Total liabilities | 25,859 | 30,802 |
Level 2 [Member] | Recurring fair value measurement [member] | Interest rate swap contract [member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 6,450 | 5,656 |
Level 2 [Member] | Recurring fair value measurement [member] | Foreign Exchange Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 17,493 | 19,876 |
Level 2 [Member] | Recurring fair value measurement [member] | Equity Contracts [Member] | Derivative Liabilities [Member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 1,916 | 5,270 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese National Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 423,129 | 422,739 |
Financial assets designated to be measured at FVPL | 1,021,309 | 1,285,920 |
Financial assets required to be measured at FVOCI | 7,057,395 | 7,901,817 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese local government bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 1,846 | 600 |
Financial assets designated to be measured at FVPL | 13,945 | 16,038 |
Financial assets required to be measured at FVOCI | 48,712 | 45,458 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 27,296 | 16,872 |
Financial assets designated to be measured at FVPL | 3,302 | 3,315 |
Financial assets required to be measured at FVOCI | 743,804 | 739,541 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Government Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 192,325 | 173,393 |
Financial assets designated to be measured at FVPL | 39,472 | 35,895 |
Financial assets required to be measured at FVOCI | 1,221,208 | 1,145,709 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 11,981 | 5,515 |
Financial assets designated to be measured at FVPL | 159,158 | 141,857 |
Financial assets required to be measured at FVOCI | 266,362 | 307,717 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Securitized Products [Member] | ||
Assets: | ||
Financial assets required to be measured at FVOCI | 60,565 | 29,697 |
Level 2 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Investment funds [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 552,017 | 367,193 |
Level 2 [Member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 8,146 | 5,217 |
Level 2 [Member] | Recurring fair value measurement [member] | Derivatives [member] | Interest rate swap contract [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 49,619 | 43,844 |
Level 2 [Member] | Recurring fair value measurement [member] | Derivatives [member] | Foreign Exchange Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 20,425 | 21,318 |
Level 3 [Member] | Recurring fair value measurement [member] | ||
Assets: | ||
Total assets | 532,838 | 640,146 |
Liabilities: | ||
Total liabilities | 104,371 | 98,838 |
Level 3 [Member] | Recurring fair value measurement [member] | Contingent consideration [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 50,343 | 51,512 |
Level 3 [Member] | Recurring fair value measurement [member] | Redeemable Non Controlling Interests [Member] | ||
Liabilities: | ||
Financial liabilities designated to be measured at FVPL | 54,028 | 47,326 |
Level 3 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 20 | 38 |
Financial assets required to be measured at FVOCI | 138,848 | 171,622 |
Level 3 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 2,933 | 3,377 |
Financial assets designated to be measured at FVPL | 5,923 | 3,541 |
Financial assets required to be measured at FVOCI | 34,757 | 24,672 |
Level 3 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Securitized Products [Member] | ||
Assets: | ||
Financial assets required to be measured at FVOCI | 22,008 | 40,591 |
Level 3 [Member] | Recurring fair value measurement [member] | Debt securities [member] | Investment funds [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 67,355 | 60,796 |
Level 3 [Member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | 9,434 | 6,789 |
Financial assets designated to be measured at FVOCI | 249,181 | 324,028 |
Level 3 [Member] | Recurring fair value measurement [member] | Derivatives [member] | Equity Contracts [Member] | ||
Assets: | ||
Financial assets required to be measured at FVPL | ¥ 2,379 | ¥ 4,692 |
Financial instruments - Summa_3
Financial instruments - Summary of Valuation Techniques Used to Measure the Fair Value of Assets and Liabilities Classified as Level 3 (Detail) - Credit spread, measurement input [member] - Discounted cash flow [member] - Level 3 of fair value hierarchy [member] - Recurring fair value measurement [member] - basispoint | Mar. 31, 2024 | Mar. 31, 2023 | |
Japanese Corporate Bonds [Member] | Bottom of range [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Financial assets required to be measured at FVOCI | [1] | 27 | 34 |
Japanese Corporate Bonds [Member] | Top of range [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Financial assets required to be measured at FVOCI | [1] | 72 | 63 |
Securitized Products [Member] | Bottom of range [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Financial assets required to be measured at FVOCI | [1] | 90 | 150 |
Securitized Products [Member] | Top of range [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Financial assets required to be measured at FVOCI | [1] | 170 | 190 |
Foreign Corporate Bonds [Member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Financial assets required to be measured at FVOCI | [1] | 10 | |
[1]bp = basis point |
Financial instruments - Summa_4
Financial instruments - Summary of Changes in Fair Value of Level 3 Assets and Liabilities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | |||
Assets: | ||||
Beginning balance | ¥ 31,154,095 | |||
Ending balance | 34,107,490 | ¥ 31,154,095 | ||
Liabilities: | ||||
Beginning balance | 24,496,945 | |||
Ending balance | 26,351,385 | 24,496,945 | ||
Level 3 of fair value hierarchy [member] | Financial liabilities required to be measured at FVPL [member] | Contingent consideration [member] | Recurring fair value measurement [member] | ||||
Liabilities: | ||||
Beginning balance | 51,512 | 21,552 | ||
Net income | 182 | (475) | [1],[2] | |
Other comprehensive income | 6,614 | 1,240 | [1],[3] | |
Purchases | 4,363 | 43,455 | ||
Sales and settlements | (12,328) | (13,951) | ||
Others | (309) | |||
Ending balance | 50,343 | 51,512 | ||
Level 3 of fair value hierarchy [member] | Financial liabilities designated to be measured at FVPL [member] | Redeemable Non Controlling Interests [Member] | Recurring fair value measurement [member] | ||||
Liabilities: | ||||
Beginning balance | 47,326 | 34,995 | ||
Net income | (3,396) | (1,410) | [1],[2] | |
Other comprehensive income | 5,345 | 2,877 | [1],[3] | |
Purchases | 5,294 | 13,670 | ||
Sales and settlements | (541) | (2,802) | ||
Others | (4) | |||
Ending balance | 54,028 | 47,326 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 38 | 18 | ||
Purchases | 20 | 20 | ||
Sales and settlements | (18) | |||
Other | (20) | |||
Ending balance | 20 | 38 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Japanese Corporate Bonds [Member] | Financial assets required to be measured at FVOCI [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 171,622 | 154,245 | ||
Net income | 8 | 6 | [1],[2] | |
Other comprehensive income | (32,782) | (30,203) | [1],[3] | |
Purchases | 47,574 | |||
Ending balance | 138,848 | 171,622 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 3,377 | 117 | ||
Net income | 171 | (14) | [1],[2] | |
Purchases | 317 | 3,434 | ||
Sales and settlements | (70) | |||
Other | (932) | (90) | ||
Ending balance | 2,933 | 3,377 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets designated to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 3,541 | 3,625 | ||
Net income | 642 | (84) | [1],[2] | |
Purchases | 1,740 | |||
Ending balance | 5,923 | 3,541 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets required to be measured at FVOCI [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 24,672 | 20,837 | ||
Net income | 1,315 | 598 | [1],[2] | |
Other comprehensive income | 255 | |||
Purchases | 29,150 | 24,362 | ||
Sales and settlements | (19,148) | (21,125) | ||
Transfers out of Level 3 | (1,487) | |||
Ending balance | 34,757 | 24,672 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Securitized Products [Member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 3,713 | |||
Sales and settlements | (3,713) | |||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Securitized Products [Member] | Financial assets required to be measured at FVOCI [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 40,591 | 39,859 | ||
Net income | 1,434 | (389) | [1],[2] | |
Other comprehensive income | 35 | 6 | [1],[3] | |
Purchases | 12,793 | 13,575 | ||
Sales and settlements | (24,437) | (15,048) | ||
Transfers into Level 3 | [4] | 6,712 | ||
Transfers out of Level 3 | (8,408) | (4,124) | [5] | |
Ending balance | 22,008 | 40,591 | ||
Level 3 of fair value hierarchy [member] | Debt securities [member] | Investment funds [member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 60,796 | 48,520 | ||
Net income | 3,781 | (2,541) | [1],[2] | |
Other comprehensive income | 736 | 395 | [1],[3] | |
Purchases | 8,677 | 17,254 | ||
Sales and settlements | (6,635) | (2,832) | ||
Ending balance | 67,355 | 60,796 | ||
Level 3 of fair value hierarchy [member] | Equity securities [member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 6,789 | 3,217 | ||
Net income | 595 | (413) | [1],[2] | |
Other comprehensive income | 1 | |||
Purchases | 1,951 | 4,021 | ||
Sales and settlements | (152) | (36) | ||
Other | 250 | |||
Ending balance | 9,434 | 6,789 | ||
Level 3 of fair value hierarchy [member] | Equity securities [member] | Financial assets designated to be measured at FVOCI [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 324,028 | 205,509 | ||
Other comprehensive income | (6,987) | (24,913) | [1],[3] | |
Purchases | 6,342 | 143,611 | ||
Sales and settlements | (73,874) | (126) | ||
Transfers into Level 3 | [4] | 146 | ||
Transfers out of Level 3 | (1,175) | (600) | [5] | |
Other | 847 | 401 | ||
Ending balance | 249,181 | 324,028 | ||
Level 3 of fair value hierarchy [member] | Derivatives [member] | Equity Contracts [Member] | Financial assets required to be measured at FVPL [member] | Recurring fair value measurement [member] | ||||
Assets: | ||||
Beginning balance | 4,692 | 4,024 | ||
Net income | (2,816) | (393) | [1],[2] | |
Other comprehensive income | 503 | 356 | [1],[3] | |
Purchases | 705 | |||
Ending balance | ¥ 2,379 | ¥ 4,692 | ||
[1]For liability items, gains are presented as negative and losses are presented as positive.[2]Gains (losses) recognized in net income are included in financial services revenue, other operating (income) expense, net, financial income and financial expenses in the consolidated statements of income.[3]Gains (losses) recognized in other comprehensive income are included in changes in equity instruments measured at fair value through other comprehensive income, changes in debt instruments measured at fair value through other comprehensive income and exchange differences on translating foreign operations in the consolidated statements of comprehensive income.[4]Certain financial assets were transferred to Level 3 because the observability of the inputs used decreased.[5]Certain financial assets were transferred from Level 3 because observable market data became available. |
Financial instruments - Summa_5
Financial instruments - Summary of Changes in Unrealized Gains (Losses) Recognized in Net Income for Level 3 Assets and Liabilities (Detail) - Recurring fair value measurement [member] - Level 3 of fair value hierarchy [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Contingent Considerations [Member] | Financial liabilities required to be measured at FVPL [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | ¥ (1,488) | ¥ (2,683) |
Redeemable Non Controlling Interests [Member] | Financial liabilities designated to be measured at FVPL [member] | ||
Liabilities: | ||
Financial liabilities required to be measured at FVPL | 3,270 | 1,410 |
Debt securities [member] | Investment funds [member] | Financial assets required to be measured at FVPL [member] | ||
Assets: | ||
Financial assets | 3,887 | (2,420) |
Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets required to be measured at FVPL [member] | ||
Assets: | ||
Financial assets | 171 | (14) |
Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets required to be measured at FVOCI [member] | ||
Assets: | ||
Financial assets | 1,315 | 598 |
Debt securities [member] | Foreign Corporate Bonds [Member] | Financial assets designated to be measured at FVPL [member] | ||
Assets: | ||
Financial assets | 646 | (84) |
Debt securities [member] | Securitized Products [Member] | Financial assets required to be measured at FVOCI [member] | ||
Assets: | ||
Financial assets | 1,461 | (389) |
Debt securities [member] | Japanese Corporate Bonds [Member] | Financial assets required to be measured at FVOCI [member] | ||
Assets: | ||
Financial assets | 8 | 6 |
Equity securities [member] | Financial assets required to be measured at FVPL [member] | ||
Assets: | ||
Financial assets | 495 | (413) |
Derivatives [member] | Equity Contracts [Member] | Financial assets required to be measured at FVPL [member] | ||
Assets: | ||
Financial assets | ¥ (2,816) | ¥ (393) |
Financial instruments - Summa_6
Financial instruments - Summary of Equity Instruments Measured at Fair Value Through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Marketable Equity Instruments [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity instruments measured at fair value through other comprehensive income | ¥ 67,834 | ¥ 103,270 |
Non-marketable equity instruments [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity instruments measured at fair value through other comprehensive income | 249,181 | 324,028 |
Equity Instruments [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity instruments measured at fair value through other comprehensive income | ¥ 317,015 | ¥ 427,298 |
Financial instruments - Summa_7
Financial instruments - Summary of Significant Marketable Equity Instruments Measured at Fair Value Through Other Comprehensive Income (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Bilibili Inc [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Marketable equity instruments measured at fair value through other comprehensive income | ¥ 29,410 | ¥ 54,214 |
ANYCOLOR Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Marketable equity instruments measured at fair value through other comprehensive income | 8,568 | 10,061 |
KADOKAWA Corporation [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Marketable equity instruments measured at fair value through other comprehensive income | ¥ 7,545 | 8,017 |
Toei Animation Co., Ltd. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Marketable equity instruments measured at fair value through other comprehensive income | ¥ 10,407 |
Financial instruments - Summa_8
Financial instruments - Summary of Balances of the Non-Marketable Instruments Measured at Fair Value Through Other Comprehensive Income by Major Sector Categories (Detail) - Non Marketable Equity Instruments [Member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Non-marketable instruments measured at fair value through other comprehensive income | ¥ 249,181 | ¥ 324,028 | |
Entertainment Sector [Member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Non-marketable instruments measured at fair value through other comprehensive income | [1] | 187,294 | 259,214 |
Manufacturing Sector [Member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Non-marketable instruments measured at fair value through other comprehensive income | [2] | 34,610 | 35,182 |
Information Technology Communication and Service Sector [Member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Non-marketable instruments measured at fair value through other comprehensive income | [3] | ¥ 24,348 | ¥ 27,136 |
[1]Major investments included Epic Games, Inc. and Scopely, Inc. as of March 31, 2023. Major investments included Epic Games, Inc. as of March 31, 2024.[2]Major investments included Nichia Corporation.[3]Major investments included Semiconductor Energy Laboratory Co., Ltd. |
Financial instruments - Summa_9
Financial instruments - Summary of Information Relating to Derecognized Equity Instruments Measured at Fair Value Through Other Comprehensive Income by Way of Sale (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Disclosure of Detailed Information Realting to Equity Instruments Measured to Fair Value Through Other Comphrehensive Income Derecognized Explanatory [Abstract] | |||
Fair value at derecognition | ¥ 86,265 | ¥ 625 | |
Cumulative amount recognized in other comprehensive income, net of tax | [1] | 12,326 | (298) |
Dividend received | ¥ 122 | ¥ 8 | |
[1]The cumulative amount recognized in other comprehensive income, net of tax, was transferred to retained earnings upon derecognition of the equity instruments. |
Financial instruments - Summ_10
Financial instruments - Summary of Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments that are Measured at Amortized Cost (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Debt securities | |||
Total assets | ¥ 34,107,490 | ¥ 31,154,095 | ¥ 29,651,955 |
Liabilities | |||
Long-term debt including the current portion | 2,275,828 | 1,955,638 | |
Total liabilities | 26,351,385 | 24,496,945 | ¥ 23,945,373 |
Financial liabilities at amortised cost, category [member] | At fair value [member] | |||
Liabilities | |||
Long-term debt including the current portion | 1,685,275 | 1,410,921 | |
Investment contract liabilities | 59,578 | 55,523 | |
Total liabilities | 1,744,853 | 1,466,444 | |
Financial liabilities at amortised cost, category [member] | Carrying amount [member] | |||
Liabilities | |||
Long-term debt including the current portion | 1,704,102 | 1,423,392 | |
Investment contract liabilities | 60,392 | 55,779 | |
Total liabilities | 1,764,494 | 1,479,171 | |
Financial liabilities at amortised cost, category [member] | Level 2 [Member] | At fair value [member] | |||
Liabilities | |||
Long-term debt including the current portion | 1,606,340 | 1,343,077 | |
Investment contract liabilities | 59,578 | 55,523 | |
Total liabilities | 1,665,918 | 1,398,600 | |
Financial liabilities at amortised cost, category [member] | Level 3 [Member] | At fair value [member] | |||
Liabilities | |||
Long-term debt including the current portion | 78,935 | 67,844 | |
Total liabilities | 78,935 | 67,844 | |
Financial assets at amortised cost, category [member] | At fair value [member] | |||
Assets | |||
Housing Loans in the Banking Business | 3,634,011 | 3,184,060 | |
Debt securities | |||
Total assets | 4,030,179 | 3,514,241 | |
Financial assets at amortised cost, category [member] | Carrying amount [member] | |||
Assets | |||
Housing Loans in the Banking Business | 3,574,468 | 3,129,393 | |
Debt securities | |||
Total assets | 3,970,949 | 3,466,767 | |
Financial assets at amortised cost, category [member] | Level 2 [Member] | At fair value [member] | |||
Debt securities | |||
Total assets | 13,411 | 4,855 | |
Financial assets at amortised cost, category [member] | Level 3 [Member] | At fair value [member] | |||
Assets | |||
Housing Loans in the Banking Business | 3,634,011 | 3,184,060 | |
Debt securities | |||
Total assets | 4,016,768 | 3,509,386 | |
Financial assets at amortised cost, category [member] | Japanese Corporate Bonds [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 9,957 | ||
Financial assets at amortised cost, category [member] | Japanese Corporate Bonds [Member] | Carrying amount [member] | |||
Debt securities | |||
Debt instruments held | 9,950 | ||
Financial assets at amortised cost, category [member] | Japanese Corporate Bonds [Member] | Level 2 [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 9,957 | ||
Financial assets at amortised cost, category [member] | Foreign Corporate Bonds [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 3,413 | 4,814 | |
Financial assets at amortised cost, category [member] | Foreign Corporate Bonds [Member] | Carrying amount [member] | |||
Debt securities | |||
Debt instruments held | 3,386 | 4,796 | |
Financial assets at amortised cost, category [member] | Foreign Corporate Bonds [Member] | Level 2 [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 3,413 | 4,814 | |
Financial assets at amortised cost, category [member] | Securitized Products [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 378,389 | 324,153 | |
Financial assets at amortised cost, category [member] | Securitized Products [Member] | Carrying amount [member] | |||
Debt securities | |||
Debt instruments held | 378,736 | 331,354 | |
Financial assets at amortised cost, category [member] | Securitized Products [Member] | Level 3 [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 378,389 | 324,153 | |
Financial assets at amortised cost, category [member] | Other Debt Securities [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 4,409 | 1,214 | |
Financial assets at amortised cost, category [member] | Other Debt Securities [Member] | Carrying amount [member] | |||
Debt securities | |||
Debt instruments held | 4,409 | 1,224 | |
Financial assets at amortised cost, category [member] | Other Debt Securities [Member] | Level 2 [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | 41 | 41 | |
Financial assets at amortised cost, category [member] | Other Debt Securities [Member] | Level 3 [Member] | At fair value [member] | |||
Debt securities | |||
Debt instruments held | ¥ 4,368 | ¥ 1,173 |
Financial instruments - Summ_11
Financial instruments - Summary of Income and Expenses Related to Financial Instruments in the Financial Services Segment (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Income | ||||
Dividend income | ¥ 122 | ¥ 8 | ||
Financial Services [Member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | 894,543 | 43,617 | ¥ 333,717 |
Total interest income | [1] | 243,269 | 223,306 | 212,845 |
Dividend income | [1] | 459 | 195 | 85 |
Expenses | ||||
Total interest expenses | 72,488 | 29,867 | 3,838 | |
Impairment losses (gains) on financial assets | (45) | 152 | 43 | |
Financial Services [Member] | Financial liabilities measured at AC [member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | (105,974) | (58,484) | (49,110) |
Expenses | ||||
Total interest expenses | 72,488 | 29,867 | 3,838 | |
Financial Services [Member] | Financial instruments required to be measured at FVPL [member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | 857,653 | 56,150 | 225,922 |
Financial Services [Member] | Financial instruments designated to be measured at FVPL [member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | (120,317) | (109,480) | (6,673) |
Financial Services [Member] | Financial assets measured at AC [member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | 5,279 | 14,242 | 14,765 |
Total interest income | [1] | 52,060 | 38,787 | 32,839 |
Expenses | ||||
Impairment losses (gains) on financial assets | (42) | 144 | 19 | |
Financial Services [Member] | Debt instruments measured at FVOCI [member] | ||||
Income | ||||
Net gains (losses) recognized in profit or loss | [1] | 257,902 | 141,189 | 148,813 |
Total interest income | [1] | 191,209 | 184,519 | 180,006 |
Expenses | ||||
Impairment losses (gains) on financial assets | (3) | 8 | 24 | |
Financial Services [Member] | Equity instruments measured at FVOCI [member] | ||||
Income | ||||
Dividend income | [1] | ¥ 459 | ¥ 195 | ¥ 85 |
[1]Income includes investment returns which occurred in the insurance business. Refer to Note 13. |
Financial instruments - Additio
Financial instruments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period | ¥ 2,384 | ¥ 2,704 |
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period | 847 | 1,982 |
Equity securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Transfers out of level 2 into level 1 of equity securities | ¥ 0 | ¥ 24,958 |
Financial risk management - Add
Financial risk management - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2024 JPY (¥) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2024 USD ($) | Apr. 01, 2022 JPY (¥) | |
Statements [Line Items] | ||||
Borrowings | ¥ 2,275,828 | ¥ 1,955,638 | ||
Collateral held permitted to be sold or repledged in absence of default by owner of collateral, at fair value | 4,691 | |||
Maximum exposure to credit risk of financial assets designated as measured at fair value through profit or loss | 1,243,109 | 1,486,566 | ||
Increase (decrease) in fair value of financial assets designated as measured at fair value through profit or loss, attributable to changes in credit risk of financial assets | 969 | 509 | ||
Accumulated increase (decrease) in fair value of financial assets designated as measured at fair value through profit or loss, attributable to changes in credit risk of financial assets | 1,566 | 2,535 | ||
Total assets | 34,107,490 | 31,154,095 | ¥ 29,651,955 | |
Total liabilities | 26,351,385 | 24,496,945 | ¥ 23,945,373 | |
Sony Financial Group Inc [Member] | ||||
Statements [Line Items] | ||||
Total assets | 20,877,128 | 19,912,827 | ||
Total liabilities | ¥ 19,763,959 | 18,728,102 | ||
Market risk [member] | Sony Bank Inc [Member] | ||||
Statements [Line Items] | ||||
Time period for measurement of VaR using historical method | 250 days | |||
Confidence level for measurement of VaR using historical method | 99% | |||
Value at risk | ¥ 18,046 | ¥ 21,433 | ||
CP Programs [Member] | ||||
Statements [Line Items] | ||||
Maximum borrowing limit | 1,257,100 | |||
Borrowings | 0 | |||
Committed Lines Of Credit [Member] | ||||
Statements [Line Items] | ||||
Undrawn borrowing facilities | 766,400 | |||
Committed Lines Of Credit [Member] | U.S. dollar [member] | Syndicate Of Japanese Banks [Member] | ||||
Statements [Line Items] | ||||
Undrawn borrowing facilities | $ | $ 1,700 | |||
Committed Lines Of Credit [Member] | U.S. dollar [member] | Syndicate Of Foreign Bank [Member] | ||||
Statements [Line Items] | ||||
Undrawn borrowing facilities | $ | $ 1,050 | |||
Committed Lines Of Credit [Member] | Japan [member] | Syndicate Of Japanese Banks [Member] | ||||
Statements [Line Items] | ||||
Undrawn borrowing facilities | ¥ 350,000 |
Financial risk management - Sum
Financial risk management - Summary of Capital Management Indicator Return on Equity (Detail) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financial Risk Management [Abstract] | ||
Return on Equity | 13.70% | 16.40% |
Financial risk management - S_2
Financial risk management - Summary of Price Sensitivity Analysis (Detail) - Trading equity securities [member] - Equity price risk [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Income before income taxes | ¥ (24,621) | ¥ (11,734) |
Other comprehensive income (before considering the tax effect) | ¥ (6,116) | ¥ (9,800) |
Decreased market prices of marketable equity instruments | 10% | 10% |
Financial risk management - S_3
Financial risk management - Summary of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | ¥ 10,326,710 | ¥ 9,379,539 |
Deposits from customers in the banking business | 3,870,349 | 3,316,556 |
Bonds | 554,986 | 354,169 |
Borrowings | 3,013,803 | 3,025,480 |
Loan commitments | 50,965 | 35,831 |
Derivative liabilities | 29,557 | 33,766 |
Guarantee deposits received | 44,864 | 40,568 |
Redeemable noncontrolling interests | 54,389 | 48,616 |
Lease liabilities | 671,899 | 593,967 |
Derivative Contracts - Net Settled | ||
Paid | 28,220 | 32,881 |
Derivative Contracts Gross Settled | ||
Received | 49,187 | 29,092 |
Paid | 50,524 | 29,977 |
Deposits from customers in the banking business [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 3,845,607 | 3,306,981 |
Bonds [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 544,078 | 349,332 |
Borrowings [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 2,972,629 | 2,988,994 |
Derivative Liabilities [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 29,287 | 34,123 |
Guarantee deposits received [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 44,864 | 40,568 |
Redeemable non-controlling interests [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Financial liabilities | 54,028 | 47,326 |
Gross carrying amount [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 571,726 | 532,246 |
Within 1Year [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 3,687,051 | 3,171,377 |
Bonds | 42,236 | 26,039 |
Borrowings | 1,909,097 | 1,998,315 |
Loan commitments | 50,965 | 35,831 |
Derivative liabilities | 23,465 | 28,886 |
Guarantee deposits received | 31,479 | 31,085 |
Lease liabilities | 106,505 | 90,244 |
Derivative Contracts - Net Settled | ||
Paid | 22,128 | 27,820 |
Derivative Contracts Gross Settled | ||
Received | 49,187 | 25,894 |
Paid | 50,524 | 26,960 |
1 Year to 2 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 22,043 | 30,215 |
Bonds | 112,112 | 40,986 |
Borrowings | 84,525 | 70,690 |
Derivative liabilities | 1,179 | 623 |
Guarantee deposits received | 135 | 272 |
Redeemable noncontrolling interests | 14,794 | 24,844 |
Lease liabilities | 96,090 | 80,476 |
Derivative Contracts - Net Settled | ||
Paid | 1,179 | 769 |
Derivative Contracts Gross Settled | ||
Received | 156 | |
Paid | 10 | |
2Years to 3 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 11,422 | 14,933 |
Bonds | 126,786 | 110,862 |
Borrowings | 259,511 | 147,447 |
Derivative liabilities | 1,178 | 1,041 |
Guarantee deposits received | 9 | 19 |
Redeemable noncontrolling interests | 25,740 | 10,397 |
Lease liabilities | 85,917 | 68,143 |
Derivative Contracts - Net Settled | ||
Paid | 1,178 | 1,076 |
Derivative Contracts Gross Settled | ||
Received | 3,042 | |
Paid | 3,007 | |
3 Years to 4 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 2,728 | 1,060 |
Bonds | 101,302 | 35,591 |
Borrowings | 231,829 | 270,268 |
Derivative liabilities | 1,145 | 912 |
Guarantee deposits received | 24 | 58 |
Redeemable noncontrolling interests | 99 | 4,572 |
Lease liabilities | 68,624 | 55,189 |
Derivative Contracts - Net Settled | ||
Paid | 1,145 | 912 |
4 Years to 5Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 3,069 | 2,410 |
Bonds | 80,974 | 80,416 |
Borrowings | 156,945 | 62,571 |
Derivative liabilities | 953 | 918 |
Guarantee deposits received | 10 | 13 |
Redeemable noncontrolling interests | 5,292 | 198 |
Lease liabilities | 57,850 | 47,665 |
Derivative Contracts - Net Settled | ||
Paid | 953 | 918 |
5+ Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Deposits from customers in the banking business | 144,036 | 96,561 |
Bonds | 91,576 | 60,275 |
Borrowings | 371,896 | 476,189 |
Derivative liabilities | 1,637 | 1,386 |
Guarantee deposits received | 13,207 | 9,121 |
Redeemable noncontrolling interests | 8,464 | 8,605 |
Derivative Contracts - Net Settled | ||
Paid | 1,637 | 1,386 |
5 Years to 6 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 51,240 | 56,603 |
6 Years to 7 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 47,630 | 37,539 |
7 years to 8 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 37,279 | 34,588 |
8 Years to 9 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 29,390 | 25,798 |
9 Years to 10 Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | 21,954 | 18,384 |
10+ Years [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Lease liabilities | ¥ 69,420 | ¥ 79,338 |
Financial risk management - S_4
Financial risk management - Summary of Foreign Exchange Risk Exposures (Detail) - Currency Risk That Are Unhedged By The Use Of Derivatives [Member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Foreign exchange risk | ¥ 81,000 | ¥ 45,316 |
Euro [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Foreign exchange risk | ¥ 282 | ¥ 1,459 |
Financial risk management - S_5
Financial risk management - Summary of Sensitivity Analysis (Detail) - Currency risk [member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
U.S. dollar [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Estimated Impact On Profit Loss Before Tax Due To Increase In The Foreign Exchange Rates In Respect Of Financial Instruments Held | ¥ (8,100) | ¥ (4,532) |
Euro [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Estimated Impact On Profit Loss Before Tax Due To Increase In The Foreign Exchange Rates In Respect Of Financial Instruments Held | ¥ (28) | ¥ (146) |
Financial risk management - S_6
Financial risk management - Summary of Changes in Loss Allowances (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financial instruments credit-impaired [member] | Loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning Balance | ¥ 1,137 | ¥ 1,091 |
Changes due to financial assets recognized | ||
— Financial assets that have been derecognized | (251) | (291) |
New financial assets originated or purchased | 869 | 71 |
Changes in models/risk parameters | 24 | 266 |
Ending Balance | 1,779 | 1,137 |
Lifetime expected credit losses [member] | Trade And Other Receivables And Contract Assets Including Noncurrent Other Receivables In The Pictures Segment [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning Balance | 27,534 | 31,341 |
Changes due to financial assets recognized | ||
— Financial assets that have been derecognized | (2,018) | (4,568) |
New financial assets originated or purchased | 9,464 | 6,401 |
Write-offs | (5,990) | (6,647) |
Changes in models/risk parameters | 643 | (1,409) |
Foreign exchange and other movements | 3,433 | 2,416 |
Ending Balance | 33,066 | 27,534 |
Lifetime expected credit losses [member] | Financial instruments credit-impaired [member] | Loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning Balance | 824 | 927 |
Changes due to financial assets recognized | ||
— Transfer to lifetime expected credit losses | 1 | 1 |
— Transfer to 12-month expected credit losses | (106) | (80) |
— Financial assets that have been derecognized | (227) | (285) |
New financial assets originated or purchased | 823 | 20 |
Changes in models/risk parameters | 187 | 241 |
Ending Balance | 1,502 | 824 |
12-month expected credit losses [member] | Financial instruments credit-impaired [member] | Loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning Balance | 313 | 164 |
Changes due to financial assets recognized | ||
— Transfer to lifetime expected credit losses | (1) | (1) |
— Transfer to 12-month expected credit losses | 106 | 80 |
— Financial assets that have been derecognized | (24) | (6) |
New financial assets originated or purchased | 45 | 51 |
Changes in models/risk parameters | (162) | 25 |
Ending Balance | 277 | 313 |
12-month expected credit losses [member] | Debt securities [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning Balance | 61 | 53 |
Changes due to financial assets recognized | ||
— Financial assets that have been derecognized | (10) | (4) |
New financial assets originated or purchased | 8 | 13 |
Changes in models/risk parameters | (1) | (1) |
Ending Balance | ¥ 58 | ¥ 61 |
Financial risk management - S_7
Financial risk management - Summary of Credit Risk Exposure By Risk Rating Grades (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | ¥ 22,506,844 | ¥ 21,266,159 |
Gross carrying amount [member] | Trade And Other Receivables Contract Assets [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,347,740 | 1,958,963 |
Gross carrying amount [member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 10,912,163 | 10,687,888 |
Gross carrying amount [member] | AAA [Member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 659,016 | 536,009 |
Gross carrying amount [member] | AA [Member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 3,122,639 | 2,807,684 |
Gross carrying amount [member] | A [Member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 7,111,836 | 7,328,136 |
Gross carrying amount [member] | BBB [Member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 15,668 | 9,625 |
Gross carrying amount [member] | Other [Member] | Debt securities [member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 3,004 | 6,434 |
Not past due or due within 30 days [member] | Gross carrying amount [member] | Trade And Other Receivables Contract Assets [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,224,058 | 1,849,112 |
Due over 30 to 90 days [member] | Gross carrying amount [member] | Trade And Other Receivables Contract Assets [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 47,942 | 46,332 |
Due over 90 days [member] | Gross carrying amount [member] | Trade And Other Receivables Contract Assets [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ¥ 75,740 | ¥ 63,519 |
Financial risk management - S_8
Financial risk management - Summary of Gross Carrying Amount For Loans At Amortized Cost Based On Credit Ratings (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | ¥ 22,506,844 | ¥ 21,266,159 |
Banking Business in Financial Services Segment Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,586,522 | 3,141,644 |
Banking Business in Financial Services Segment Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,585,897 | 3,141,262 |
Banking Business in Financial Services Segment Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 625 | 382 |
Banking Business In Financial Services Segment Other Than Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 4,805 | 5,601 |
Banking Business In Financial Services Segment Other Than Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 2,003 | 2,177 |
Banking Business In Financial Services Segment Other Than Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 2,802 | 3,424 |
Housing Loan [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,575,093 | 3,130,073 |
Other Loan [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 16,234 | 17,172 |
Total Loans [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,591,327 | 3,147,245 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,570,389 | 3,124,550 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 3,570,142 | 3,124,410 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 247 | 140 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 4,704 | 5,523 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 1,998 | 2,173 |
Gross carrying amount [member] | Housing Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 2,706 | 3,350 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 16,133 | 17,094 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 15,755 | 16,852 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business in Financial Services Segment Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 378 | 242 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 101 | 78 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | 12-month expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | 5 | 4 |
Gross carrying amount [member] | Other Loan [Member] | Banking Business In Financial Services Segment Other Than Normal [Member] | Lifetime expected credit losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Exposure to credit risk of loans | ¥ 96 | ¥ 74 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Classes of current inventories [abstract] | |||
Finished products | ¥ 1,028,359 | ¥ 1,028,614 | |
Work in process | 314,020 | 244,140 | |
Raw materials, purchased components and supplies | 176,265 | 195,288 | |
Inventories | ¥ 1,518,644 | ¥ 1,468,042 | ¥ 874,007 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of Inventories [Line Items] | |||
Inventory write-down | ¥ 117,633 | ¥ 110,901 | ¥ 80,546 |
Cost of sales [member] | |||
Disclosure of Inventories [Line Items] | |||
Cost of inventories recognised as expense during period | 3,635,969 | 3,317,553 | 2,495,769 |
Employee benefits expense [member] | |||
Disclosure of Inventories [Line Items] | |||
Cost of inventories recognised as expense during period | 307,041 | 238,133 | 282,765 |
Depreciation and amortization expenses [member] | |||
Disclosure of Inventories [Line Items] | |||
Cost of inventories recognised as expense during period | ¥ 287,798 | ¥ 189,230 | ¥ 201,860 |
Investments in associates and_3
Investments in associates and joint ventures - Summary of Investments in Associates and Joint Ventures (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Investments in joint ventures and associates [line items] | |||
Total | ¥ 423,744 | ¥ 325,220 | ¥ 268,513 |
Aggregated individually immaterial associates and joint ventures [member] | |||
Investments in joint ventures and associates [line items] | |||
Associates | 363,611 | 279,640 | |
Joint ventures | 60,133 | 45,580 | |
Total | ¥ 423,744 | ¥ 325,220 |
Investments in associates and_4
Investments in associates and joint ventures - Summary of Combined Information of Investments Accounted for Using the Equity Method (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Share of profit or loss | |||
Total | ¥ 10,502 | ¥ 24,449 | ¥ 23,646 |
Share of other comprehensive income | |||
Total | 5,348 | 3,699 | 2,078 |
Share of comprehensive income | |||
Total | 15,850 | 28,148 | 25,724 |
Aggregated Individually Immaterial Associates [member] | |||
Share of profit or loss | |||
Total | 19,727 | 22,637 | 21,920 |
Share of other comprehensive income | |||
Total | 5,311 | 3,659 | 2,077 |
Share of comprehensive income | |||
Total | 25,038 | 26,296 | 23,997 |
Aggregated individually immaterial joint ventures [member] | |||
Share of profit or loss | |||
Total | (9,225) | 1,812 | 1,726 |
Share of other comprehensive income | |||
Total | 37 | 40 | 1 |
Share of comprehensive income | |||
Total | ¥ (9,188) | ¥ 1,852 | ¥ 1,727 |
Investments in associates and_5
Investments in associates and joint ventures - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2024 JPY (¥) | |
Investments accounted for using equity method [member] | |
Investments In Joint Ventures And Associates [Line Items] | |
Other operating (income) expense, net | ¥ 19,763 |
Property, plant and equipment -
Property, plant and equipment - Summary of Changes In Property Plant And Equipment (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | ¥ 1,344,864 | ¥ 1,113,213 |
Changes in carrying amount: | ||
Additions | 495,888 | 494,870 |
Acquisitions through business combinations | 1,396 | 8,587 |
Reclassifications | (2,681) | (6,841) |
Disposals or classified as held for sale | (9,268) | (5,923) |
Depreciation | (321,588) | (268,212) |
Impairment losses | (345) | (939) |
Translation adjustment | 31,093 | 16,009 |
Other | (16,719) | (5,900) |
Total changes | 177,776 | 231,651 |
Ending Balance | 1,522,640 | 1,344,864 |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 79,254 | 78,123 |
Changes in carrying amount: | ||
Additions | 6,068 | 700 |
Reclassifications | 616 | 75 |
Disposals or classified as held for sale | (2,077) | (876) |
Translation adjustment | 2,085 | 1,232 |
Total changes | 6,692 | 1,131 |
Ending Balance | 85,946 | 79,254 |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 379,303 | 317,472 |
Changes in carrying amount: | ||
Additions | 14,886 | 17,369 |
Acquisitions through business combinations | 912 | 168 |
Reclassifications | 76,731 | 75,608 |
Disposals or classified as held for sale | (2,361) | (1,610) |
Depreciation | (39,781) | (33,682) |
Impairment losses | (76) | (317) |
Translation adjustment | 15,913 | 8,931 |
Other | (1,744) | (4,636) |
Total changes | 64,480 | 61,831 |
Ending Balance | 443,783 | 379,303 |
Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 686,172 | 572,965 |
Changes in carrying amount: | ||
Additions | 100,199 | 112,351 |
Acquisitions through business combinations | 472 | 2,480 |
Reclassifications | 314,967 | 232,218 |
Disposals or classified as held for sale | (3,416) | (2,793) |
Depreciation | (281,807) | (234,530) |
Impairment losses | (258) | (570) |
Translation adjustment | 7,366 | 5,315 |
Other | (15,032) | (1,264) |
Total changes | 122,491 | 113,207 |
Ending Balance | 808,663 | 686,172 |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 200,135 | 144,653 |
Changes in carrying amount: | ||
Additions | 374,735 | 364,450 |
Acquisitions through business combinations | 12 | 5,939 |
Reclassifications | (394,995) | (314,742) |
Disposals or classified as held for sale | (1,414) | (644) |
Impairment losses | (11) | (52) |
Translation adjustment | 5,729 | 531 |
Other | 57 | |
Total changes | (15,887) | 55,482 |
Ending Balance | 184,248 | 200,135 |
Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 3,403,756 | 3,010,870 |
Changes in carrying amount: | ||
Ending Balance | 3,856,202 | 3,403,756 |
Gross carrying amount [member] | Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 79,291 | 78,160 |
Changes in carrying amount: | ||
Ending Balance | 85,983 | 79,291 |
Gross carrying amount [member] | Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 921,156 | 832,785 |
Changes in carrying amount: | ||
Ending Balance | 1,033,758 | 921,156 |
Gross carrying amount [member] | Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 2,202,010 | 1,953,985 |
Changes in carrying amount: | ||
Ending Balance | 2,551,174 | 2,202,010 |
Gross carrying amount [member] | Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | 201,299 | 145,940 |
Changes in carrying amount: | ||
Ending Balance | 185,287 | 201,299 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (2,058,892) | (1,897,657) |
Changes in carrying amount: | ||
Ending Balance | (2,333,562) | (2,058,892) |
Accumulated depreciation and impairment losses [member] | Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (37) | (37) |
Changes in carrying amount: | ||
Ending Balance | (37) | (37) |
Accumulated depreciation and impairment losses [member] | Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (541,853) | (515,313) |
Changes in carrying amount: | ||
Ending Balance | (589,975) | (541,853) |
Accumulated depreciation and impairment losses [member] | Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (1,515,838) | (1,381,020) |
Changes in carrying amount: | ||
Ending Balance | (1,742,511) | (1,515,838) |
Accumulated depreciation and impairment losses [member] | Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning Balance | (1,164) | (1,287) |
Changes in carrying amount: | ||
Ending Balance | ¥ (1,039) | ¥ (1,164) |
Leases - Summary of ROU Assets
Leases - Summary of ROU Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Carrying amount, beginning balance | ¥ 478,063 | ¥ 413,430 |
Changes in the carrying amount | ||
Increase due to new lease agreements and remeasurement of lease liabilities | 98,394 | 128,532 |
Decrease due to termination of lease agreements and remeasurement of lease liabilities | (10,937) | (14,191) |
Depreciation | (94,842) | (86,347) |
Other | 32,717 | 36,639 |
Total changes | 25,332 | 64,633 |
Carrying amount, ending balance | 503,395 | 478,063 |
Land [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Carrying amount, beginning balance | 15,238 | 17,800 |
Changes in the carrying amount | ||
Increase due to new lease agreements and remeasurement of lease liabilities | 177 | 1,533 |
Decrease due to termination of lease agreements and remeasurement of lease liabilities | (74) | (3,323) |
Depreciation | (1,169) | (1,171) |
Other | 643 | 399 |
Total changes | (423) | (2,562) |
Carrying amount, ending balance | 14,815 | 15,238 |
Buildings [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Carrying amount, beginning balance | 413,063 | 375,268 |
Changes in the carrying amount | ||
Increase due to new lease agreements and remeasurement of lease liabilities | 73,038 | 90,395 |
Decrease due to termination of lease agreements and remeasurement of lease liabilities | (10,396) | (10,654) |
Depreciation | (82,576) | (77,368) |
Other | 31,379 | 35,422 |
Total changes | 11,445 | 37,795 |
Carrying amount, ending balance | 424,508 | 413,063 |
Machinery and equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Carrying amount, beginning balance | 49,762 | 20,362 |
Changes in the carrying amount | ||
Increase due to new lease agreements and remeasurement of lease liabilities | 25,179 | 36,604 |
Decrease due to termination of lease agreements and remeasurement of lease liabilities | (467) | (214) |
Depreciation | (11,097) | (7,808) |
Other | 695 | 818 |
Total changes | 14,310 | 29,400 |
Carrying amount, ending balance | ¥ 64,072 | ¥ 49,762 |
Leases - Summary of Lease Expen
Leases - Summary of Lease Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of Detailed Information About Lease Expenses [Abstract] | |||
Interest expenses on lease liabilities | ¥ 12,833 | ¥ 10,382 | ¥ 8,223 |
Expenses related to short-term leases accounted for applying an exemption | 20,798 | 36,807 | 19,764 |
Income from subleases | (1,589) | (1,784) | (2,256) |
Net cash outflows for leases | ¥ 100,438 | ¥ 89,681 | ¥ 83,546 |
Goodwill and intangible asset_2
Goodwill and intangible assets - Summary of Changes In Goodwill (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Balance at beginning of the fiscal year | ¥ 1,275,112 | ¥ 952,895 |
Increase (decrease) due to: | ||
Acquisitions | 70,791 | 274,499 |
Disposals or classified as held for sale | (14,491) | (445) |
Translation adjustments | 155,688 | 48,163 |
Total changes | 211,988 | 322,217 |
Balance at end of the fiscal year | 1,487,100 | 1,275,112 |
Gross carrying amount [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Balance at beginning of the fiscal year | 1,649,041 | 1,312,615 |
Increase (decrease) due to: | ||
Balance at end of the fiscal year | 1,884,627 | 1,649,041 |
Accumulated impairment [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Balance at beginning of the fiscal year | (373,929) | (359,720) |
Increase (decrease) due to: | ||
Balance at end of the fiscal year | ¥ (397,527) | ¥ (373,929) |
Goodwill and intangible asset_3
Goodwill and intangible assets - Summary of Carrying Amount of Goodwill by Segment (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | Mar. 31, 2022 |
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | ¥ 1,487,100 | ¥ 1,275,112 | ¥ 952,895 | ¥ 952,895 |
Game & Network Services [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | 465,647 | 407,121 | ||
Music [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | 710,888 | 579,969 | ||
Pictures [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | 279,949 | 259,055 | ||
Entertainment, Technology & Services [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | 15,829 | 14,654 | ||
Imaging & Sensing Solutions [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | 3,953 | 3,479 | ||
Financial Services [member] | ||||
Disclosure Of Detailed Information About Carrying Amount Of Goodwill By Segment [Line Items] | ||||
Goodwill | ¥ 10,834 | ¥ 10,834 |
Goodwill and intangible asset_4
Goodwill and intangible assets - Summary of Changes In Content Assets (Detail) - Content assets [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | ¥ 1,561,882 | ¥ 1,342,046 |
Changes in carrying amount: | ||
Additions | 533,938 | 649,305 |
Acquisitions through business combinations | 48,283 | |
Acquisitions through business combinations and other | 247,586 | |
Disposals or classified as held for sale | (43,749) | (38,906) |
Amortization | (571,008) | (510,123) |
Impairment losses | (15,417) | (14,203) |
Translation adjustment | 214,881 | 85,190 |
Other | 290 | |
Total changes | 366,231 | 219,836 |
Ending Balance | 1,928,113 | 1,561,882 |
Film costs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 572,930 | 453,477 |
Changes in carrying amount: | ||
Additions | 329,104 | 526,273 |
Acquisitions through business combinations | 419 | |
Disposals or classified as held for sale | (35,927) | (38,899) |
Amortization | (397,855) | (381,753) |
Impairment losses | (13,454) | (13,815) |
Translation adjustment | 76,678 | 27,228 |
Total changes | (41,454) | 119,453 |
Ending Balance | 531,476 | 572,930 |
Broadcasting rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 112,557 | 101,218 |
Changes in carrying amount: | ||
Additions | 97,028 | 83,491 |
Acquisitions through business combinations | 7 | |
Disposals or classified as held for sale | (7,371) | |
Amortization | (93,240) | (76,824) |
Impairment losses | (883) | |
Translation adjustment | 16,150 | 4,665 |
Total changes | 11,684 | 11,339 |
Ending Balance | 124,241 | 112,557 |
Music catalogs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 752,294 | 704,790 |
Changes in carrying amount: | ||
Additions | 20,842 | 27,839 |
Acquisitions through business combinations | 607 | |
Acquisitions through business combinations and other | 229,884 | |
Amortization | (43,779) | (31,686) |
Impairment losses | (236) | |
Translation adjustment | 106,777 | 50,980 |
Total changes | 313,724 | 47,504 |
Ending Balance | 1,066,018 | 752,294 |
Artist contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 15,986 | 15,243 |
Changes in carrying amount: | ||
Additions | 3,061 | 942 |
Acquisitions through business combinations and other | 15,075 | |
Disposals or classified as held for sale | (224) | |
Amortization | (1,394) | (1,285) |
Impairment losses | (16) | |
Translation adjustment | 3,168 | 1,086 |
Total changes | 19,670 | 743 |
Ending Balance | 35,656 | 15,986 |
Music distribution rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 33,449 | 34,061 |
Changes in carrying amount: | ||
Additions | 146 | 35 |
Acquisitions through business combinations | 1,171 | |
Acquisitions through business combinations and other | 2,627 | |
Amortization | (3,146) | (2,755) |
Translation adjustment | 2,045 | 937 |
Total changes | 1,672 | (612) |
Ending Balance | 35,121 | 33,449 |
Game content [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 74,666 | 33,257 |
Changes in carrying amount: | ||
Additions | 83,757 | 10,725 |
Acquisitions through business combinations | 46,079 | |
Disposals or classified as held for sale | (227) | (7) |
Amortization | (31,594) | (15,820) |
Impairment losses | (1,064) | (152) |
Translation adjustment | 10,063 | 294 |
Other | 290 | |
Total changes | 60,935 | 41,409 |
Ending Balance | 135,601 | 74,666 |
Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 5,923,847 | 4,978,980 |
Changes in carrying amount: | ||
Ending Balance | 7,423,874 | 5,923,847 |
Gross carrying amount [member] | Film costs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 4,320,022 | 3,549,934 |
Changes in carrying amount: | ||
Ending Balance | 5,216,247 | 4,320,022 |
Gross carrying amount [member] | Broadcasting rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 419,025 | 395,045 |
Changes in carrying amount: | ||
Ending Balance | 528,970 | 419,025 |
Gross carrying amount [member] | Music catalogs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,008,942 | 914,418 |
Changes in carrying amount: | ||
Ending Balance | 1,401,970 | 1,008,942 |
Gross carrying amount [member] | Artist contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 32,484 | 30,278 |
Changes in carrying amount: | ||
Ending Balance | 54,131 | 32,484 |
Gross carrying amount [member] | Music distribution rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 45,988 | 43,219 |
Changes in carrying amount: | ||
Ending Balance | 52,498 | 45,988 |
Gross carrying amount [member] | Game content [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 97,386 | 46,086 |
Changes in carrying amount: | ||
Ending Balance | 170,058 | 97,386 |
Accumulated amortization and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (4,361,965) | (3,636,934) |
Changes in carrying amount: | ||
Ending Balance | (5,495,761) | (4,361,965) |
Accumulated amortization and impairment losses [member] | Film costs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (3,747,092) | (3,096,457) |
Changes in carrying amount: | ||
Ending Balance | (4,684,771) | (3,747,092) |
Accumulated amortization and impairment losses [member] | Broadcasting rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (306,468) | (293,827) |
Changes in carrying amount: | ||
Ending Balance | (404,729) | (306,468) |
Accumulated amortization and impairment losses [member] | Music catalogs [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (256,648) | (209,628) |
Changes in carrying amount: | ||
Ending Balance | (335,952) | (256,648) |
Accumulated amortization and impairment losses [member] | Artist contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (16,498) | (15,035) |
Changes in carrying amount: | ||
Ending Balance | (18,475) | (16,498) |
Accumulated amortization and impairment losses [member] | Music distribution rights [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (12,539) | (9,158) |
Changes in carrying amount: | ||
Ending Balance | (17,377) | (12,539) |
Accumulated amortization and impairment losses [member] | Game content [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (22,720) | (12,829) |
Changes in carrying amount: | ||
Ending Balance | ¥ (34,457) | ¥ (22,720) |
Goodwill and intangible asset_5
Goodwill and intangible assets - Summary of Other Changes In Other Intangible Assets (Detail) - Other intangible assets [member] - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | ¥ 563,842 | ¥ 450,103 |
Changes in carrying amount: | ||
Additions | 160,427 | 126,791 |
Acquisitions through business combinations | 4,397 | 92,640 |
Internal development | 20,096 | 19,835 |
Disposals or classified as held for sale | (8,182) | (3,170) |
Amortization | (153,890) | (135,220) |
Impairment losses | (595) | (509) |
Translation adjustment | 27,283 | 9,659 |
Other | 2,224 | 3,713 |
Total changes | 51,760 | 113,739 |
Ending Balance | 615,602 | 563,842 |
Patent rights, know-how and license agreements [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 19,022 | 19,667 |
Changes in carrying amount: | ||
Additions | 8,854 | 6,432 |
Acquisitions through business combinations | 371 | 2,056 |
Disposals or classified as held for sale | (16) | (8) |
Amortization | (8,838) | (8,152) |
Impairment losses | (16) | (8) |
Translation adjustment | 444 | 156 |
Other | 97 | (1,121) |
Total changes | 896 | (645) |
Ending Balance | 19,918 | 19,022 |
Customer relationships [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 22,321 | 21,085 |
Changes in carrying amount: | ||
Acquisitions through business combinations | 2,003 | 9,237 |
Disposals or classified as held for sale | (1,697) | (112) |
Amortization | (10,166) | (9,437) |
Impairment losses | (93) | |
Translation adjustment | 2,472 | 1,483 |
Other | 158 | |
Total changes | (7,388) | 1,236 |
Ending Balance | 14,933 | 22,321 |
Trademarks [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 39,213 | 24,630 |
Changes in carrying amount: | ||
Additions | 20 | 17 |
Acquisitions through business combinations | 1,887 | 16,655 |
Disposals or classified as held for sale | (616) | (14) |
Amortization | (5,874) | (4,290) |
Translation adjustment | 5,094 | 1,516 |
Other | (104) | 699 |
Total changes | 407 | 14,583 |
Ending Balance | 39,620 | 39,213 |
Software [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 347,072 | 273,976 |
Changes in carrying amount: | ||
Additions | 145,515 | 117,019 |
Acquisitions through business combinations | 13 | 26,298 |
Internal development | 20,096 | 19,835 |
Disposals or classified as held for sale | (5,576) | (2,907) |
Amortization | (110,296) | (94,821) |
Impairment losses | (8) | (342) |
Translation adjustment | 10,981 | 3,715 |
Other | 2,193 | 4,299 |
Total changes | 62,918 | 73,096 |
Ending Balance | 409,990 | 347,072 |
Television carriage contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 26,280 | 28,058 |
Changes in carrying amount: | ||
Disposals or classified as held for sale | (33) | |
Amortization | (4,129) | (3,954) |
Translation adjustment | 3,329 | 2,176 |
Total changes | (833) | (1,778) |
Ending Balance | 25,447 | 26,280 |
Other intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 109,934 | 82,687 |
Changes in carrying amount: | ||
Additions | 6,038 | 3,323 |
Acquisitions through business combinations | 123 | 38,394 |
Disposals or classified as held for sale | (244) | (129) |
Amortization | (14,587) | (14,566) |
Impairment losses | (571) | (66) |
Translation adjustment | 4,963 | 613 |
Other | 38 | (322) |
Total changes | (4,240) | 27,247 |
Ending Balance | 105,694 | 109,934 |
Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,631,220 | 1,474,330 |
Changes in carrying amount: | ||
Ending Balance | 1,825,767 | 1,631,220 |
Gross carrying amount [member] | Patent rights, know-how and license agreements [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 201,243 | 213,649 |
Changes in carrying amount: | ||
Ending Balance | 212,000 | 201,243 |
Gross carrying amount [member] | Customer relationships [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 66,593 | 58,427 |
Changes in carrying amount: | ||
Ending Balance | 70,560 | 66,593 |
Gross carrying amount [member] | Trademarks [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 51,747 | 32,683 |
Changes in carrying amount: | ||
Ending Balance | 59,377 | 51,747 |
Gross carrying amount [member] | Software [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,045,743 | 952,153 |
Changes in carrying amount: | ||
Ending Balance | 1,196,266 | 1,045,743 |
Gross carrying amount [member] | Television carriage contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 66,583 | 61,939 |
Changes in carrying amount: | ||
Ending Balance | 75,716 | 66,583 |
Gross carrying amount [member] | Other intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 199,311 | 155,479 |
Changes in carrying amount: | ||
Ending Balance | 211,848 | 199,311 |
Accumulated depreciation and impairment losses [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (1,067,378) | (1,024,227) |
Changes in carrying amount: | ||
Ending Balance | (1,210,165) | (1,067,378) |
Accumulated depreciation and impairment losses [member] | Patent rights, know-how and license agreements [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (182,221) | (193,982) |
Changes in carrying amount: | ||
Ending Balance | (192,082) | (182,221) |
Accumulated depreciation and impairment losses [member] | Customer relationships [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (44,272) | (37,342) |
Changes in carrying amount: | ||
Ending Balance | (55,627) | (44,272) |
Accumulated depreciation and impairment losses [member] | Trademarks [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (12,534) | (8,053) |
Changes in carrying amount: | ||
Ending Balance | (19,757) | (12,534) |
Accumulated depreciation and impairment losses [member] | Software [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (698,671) | (678,177) |
Changes in carrying amount: | ||
Ending Balance | (786,276) | (698,671) |
Accumulated depreciation and impairment losses [member] | Television carriage contracts [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (40,303) | (33,881) |
Changes in carrying amount: | ||
Ending Balance | (50,269) | (40,303) |
Accumulated depreciation and impairment losses [member] | Other intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (89,377) | (72,792) |
Changes in carrying amount: | ||
Ending Balance | ¥ (106,154) | ¥ (89,377) |
Goodwill and intangible asset_6
Goodwill and intangible assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | Mar. 31, 2022 |
Statements [Line Items] | ||||
Goodwill | ¥ 1,487,100 | ¥ 1,275,112 | ¥ 952,895 | ¥ 952,895 |
Growth rate | 3.50% | 3.50% | ||
Game & Network Services [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 465,647 | ¥ 407,121 | ||
Intangible assets with indefinite useful life | ¥ 57,438 | ¥ 57,409 | ||
Growth rate | 1.50% | 1.50% | ||
Pre-tax discount rate | 9.60% | 10.80% | ||
Music [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 710,888 | ¥ 579,969 | ||
Music [member] | Worldwide Recorded Music Cash Generating Unit [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 342,653 | ¥ 255,834 | ||
Growth rate | 1% | 1% | ||
Pre-tax discount rate | 12.50% | 12.80% | ||
Music [member] | Music Publishing Cash Generating Unit [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 330,240 | ¥ 290,833 | ||
Growth rate | 3% | 3% | ||
Pre-tax discount rate | 11.40% | 11.10% | ||
Pictures [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 279,949 | ¥ 259,055 | ||
Pictures [member] | Animation Cash Generating Unit [member] | ||||
Statements [Line Items] | ||||
Goodwill | ¥ 141,155 | ¥ 124,265 | ||
Pre-tax discount rate | 15.90% | 16.20% | ||
Pictures [member] | Animation Cash Generating Unit [member] | Maximum [Member] | ||||
Statements [Line Items] | ||||
Growth rate | 12% | 15% | ||
Pictures [member] | Animation Cash Generating Unit [member] | Minimum [Member] | ||||
Statements [Line Items] | ||||
Growth rate | 5% | 5% |
Impairment of non-financial a_2
Impairment of non-financial assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |||
Impairment of non-financial assets | ¥ 0 | ¥ 0 | ¥ 0 |
Insurance contracts in the fi_3
Insurance contracts in the financial services segment - Summary of methods and main inputs used to measure insurance contracts (Detail) | Mar. 31, 2024 | Mar. 31, 2023 |
Mortailty Rate [Member] | ||
Disclosure of inputs to methods used to measure contracts within scope of IFRS 17 [line items] | ||
Weighted Average Percentage To Measure Insurance Contracts | 1.02% | 1.03% |
Lapse And Surrender Rate [Member] | ||
Disclosure of inputs to methods used to measure contracts within scope of IFRS 17 [line items] | ||
Weighted Average Percentage To Measure Insurance Contracts | 3.57% | 3.15% |
Insurance contracts in the fi_4
Insurance contracts in the financial services segment - Summary of cash flows of insurance contracts for major currencies (Detail) | Mar. 31, 2024 | Mar. 31, 2023 |
1 year [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 0.06% | (0.10%) |
1 year [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 5.11% | 4.73% |
5 years [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 0.38% | 0.11% |
5 years [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 4.25% | 3.65% |
10 years [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 0.77% | 0.40% |
10 years [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 4.25% | 3.54% |
20 years [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 1.58% | 1.10% |
20 years [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 4.63% | 4% |
30 years [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 1.95% | 1.36% |
30 years [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 4.37% | 3.71% |
40 years [member] | JPY [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 2.14% | 1.50% |
40 years [member] | USD [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Yield used to discount cash flows that do not vary based on returns on underlying items | 4.07% | 3.54% |
Insurance contracts in the fi_5
Insurance contracts in the financial services segment - Summary of remaining coverage and liabilities for incurred claims (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Insurance service expenses | ||
Insurance finance expenses (income) | ¥ 57,995 | ¥ 69,528 |
Other | 76 | (309) |
Insurance contracts issued remaining coverage and incurred claim [member] | ||
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | ||
Insurance contract assets, Beginning | (60,751) | (55,330) |
Insurance contract liabilities, Beginning | 12,510,030 | 13,184,671 |
Net amounts, Beginning | 12,449,279 | 13,129,341 |
Insurance revenue | (586,115) | (554,570) |
Insurance service expenses | ||
Incurred claims and other insurance service expenses | 273,088 | 268,750 |
Amortization of insurance acquisition cash flows | 124,518 | 113,433 |
Changes in liabilities for incurred claims | 5,008 | 632 |
Losses and reversals of losses on onerous contracts | 4,592 | (602) |
Total insurance service expenses | 407,206 | 382,213 |
Insurance service result | (178,909) | (172,357) |
Insurance finance expenses (income) | 247,205 | (925,318) |
Total amounts recognized in comprehensive income | 68,296 | (1,097,675) |
Premiums received | 1,886,124 | 1,609,362 |
Insurance acquisition cash flows | (153,410) | (145,272) |
Claims and other insurance service expenses paid | (1,212,518) | (1,045,529) |
Total cash flows | 520,196 | 418,561 |
Other | (407) | (948) |
Insurance contract assets, Ending | (56,975) | (60,751) |
Insurance contracts liabilities, Ending | 13,094,339 | 12,510,030 |
Net amounts, Ending | 13,037,364 | 12,449,279 |
Net liabilities or assets for remaining coverage excluding loss component [member] | Insurance contracts issued remaining coverage and incurred claim [member] | ||
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | ||
Insurance contract assets, Beginning | (93,283) | (84,000) |
Insurance contract liabilities, Beginning | 12,331,738 | 13,004,073 |
Net amounts, Beginning | 12,238,455 | 12,920,073 |
Insurance revenue | (586,115) | (554,570) |
Insurance service expenses | ||
Amortization of insurance acquisition cash flows | 124,518 | 113,433 |
Total insurance service expenses | 124,518 | 113,433 |
Insurance service result | (461,597) | (441,137) |
Insurance finance expenses (income) | 244,793 | (927,674) |
Total amounts recognized in comprehensive income | (216,804) | (1,368,811) |
Investment component excluded from insurance revenue and insurance service expenses | (944,520) | (776,575) |
Premiums received | 1,886,124 | 1,609,362 |
Insurance acquisition cash flows | (153,410) | (145,272) |
Total cash flows | 1,732,714 | 1,464,090 |
Other | (199) | (322) |
Insurance contract assets, Ending | (90,377) | (93,283) |
Insurance contracts liabilities, Ending | 12,900,023 | 12,331,738 |
Net amounts, Ending | 12,809,646 | 12,238,455 |
Loss component [member] | Insurance contracts issued remaining coverage and incurred claim [member] | ||
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | ||
Insurance contract liabilities, Beginning | 51,840 | 53,820 |
Net amounts, Beginning | 51,840 | 53,820 |
Insurance service expenses | ||
Incurred claims and other insurance service expenses | (3,721) | (3,493) |
Losses and reversals of losses on onerous contracts | 4,592 | (602) |
Total insurance service expenses | 871 | (4,095) |
Insurance service result | 871 | (4,095) |
Insurance finance expenses (income) | 2,663 | 2,048 |
Total amounts recognized in comprehensive income | 3,534 | (2,047) |
Other | (41) | 67 |
Insurance contracts liabilities, Ending | 55,333 | 51,840 |
Net amounts, Ending | 55,333 | 51,840 |
Liabilities for incurred claims [member] | Insurance contracts issued remaining coverage and incurred claim [member] | ||
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | ||
Insurance contract assets, Beginning | 32,532 | 28,670 |
Insurance contract liabilities, Beginning | 126,452 | 126,778 |
Net amounts, Beginning | 158,984 | 155,448 |
Insurance service expenses | ||
Incurred claims and other insurance service expenses | 276,809 | 272,243 |
Changes in liabilities for incurred claims | 5,008 | 632 |
Total insurance service expenses | 281,817 | 272,875 |
Insurance service result | 281,817 | 272,875 |
Insurance finance expenses (income) | (251) | 308 |
Total amounts recognized in comprehensive income | 281,566 | 273,183 |
Investment component excluded from insurance revenue and insurance service expenses | 944,520 | 776,575 |
Claims and other insurance service expenses paid | (1,212,518) | (1,045,529) |
Total cash flows | (1,212,518) | (1,045,529) |
Other | (167) | (693) |
Insurance contract assets, Ending | 33,402 | 32,532 |
Insurance contracts liabilities, Ending | 138,983 | 126,452 |
Net amounts, Ending | ¥ 172,385 | ¥ 158,984 |
Insurance contracts in the fi_6
Insurance contracts in the financial services segment - Summary of remaining coverage and liabilities for incurred claims (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |||
Insurance contract liabilities current | ¥ 162,344 | ¥ 145,057 | ¥ 141,796 |
Insurance contract liabilities non-current | ¥ 12,931,995 | ¥ 12,364,973 | ¥ 13,042,875 |
Insurance contracts in the fi_7
Insurance contracts in the financial services segment - Summary of Changes in insurance contract liabilities from insurance contracts not measured under the PAA by measurement component (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Changes that relate to future service | ||
Effect of contracts initially recognized during the period | ¥ 2,116 | ¥ 2,645 |
Total changes that relate to future service | 149,241 | 167,351 |
Changes that relate to current service | ||
Total changes that relate to current service | (151,841) | (151,483) |
Insurance finance expenses (income) | 57,995 | 69,528 |
Cash flows | ||
Other | 76 | (309) |
Estimates of present value of future cash flows [member] | ||
Changes that relate to future service | ||
Effect of contracts initially recognized during the period | 2,268,072 | 1,828,156 |
Risk adjustment for non-financial risk [member] | ||
Changes that relate to future service | ||
Effect of contracts initially recognized during the period | 40,912 | 28,042 |
CSM [member] | ||
Changes that relate to future service | ||
Effect of contracts initially recognized during the period | 364,328 | 293,310 |
Insurance contracts not measured under PAA [member] | ||
Disclosure of reconciliation of changes in insurance contracts by components [line items] | ||
Insurance contract assets, Beginning | (60,751) | (55,330) |
Insurance contract liabilities, Beginning | 12,411,184 | 13,088,949 |
Net amounts, Beginning | 12,350,433 | 13,033,619 |
Changes that relate to future service | ||
Changes in estimates that do not adjust the CSM | 2,476 | (3,247) |
Effect of contracts initially recognized during the period | 2,116 | 2,645 |
Total changes that relate to future service | 4,592 | (602) |
Changes that relate to current service | ||
CSM recognized in profit or loss for the services provided | (151,841) | (151,483) |
Change in risk adjustment for non-financial risk due to release of risk | (26,899) | (23,466) |
Experience adjustments | 5,076 | 21,622 |
Total changes that relate to current service | (173,664) | (153,327) |
Changes that relate to past service | 253 | (651) |
Insurance service result | (168,819) | (154,580) |
Insurance finance expenses (income) | 247,205 | (925,318) |
Total amounts recognized in comprehensive income | 78,386 | (1,079,898) |
Cash flows | ||
Premiums received | 1,748,139 | 1,479,110 |
Insurance acquisition cash flows | (138,544) | (130,221) |
Claims and other insurance service expenses paid | (1,107,850) | (951,330) |
Total cash flows | 501,745 | 397,559 |
Other | (706) | (847) |
Insurance contract assets, Ending | (56,975) | (60,751) |
Insurance contracts liabilities, Ending | 12,986,833 | 12,411,184 |
Net amounts, Ending | 12,929,858 | 12,350,433 |
Insurance contracts not measured under PAA [member] | Estimates of present value of future cash flows [member] | ||
Disclosure of reconciliation of changes in insurance contracts by components [line items] | ||
Insurance contract assets, Beginning | (341,096) | (222,149) |
Insurance contract liabilities, Beginning | 10,217,895 | 10,842,043 |
Net amounts, Beginning | 9,876,799 | 10,619,894 |
Changes that relate to future service | ||
Changes in estimates that adjust the CSM | 233,415 | 155,005 |
Changes in estimates that do not adjust the CSM | 6,008 | (735) |
Effect of contracts initially recognized during the period | (403,124) | (318,707) |
Total changes that relate to future service | (163,701) | (164,437) |
Changes that relate to current service | ||
Experience adjustments | 5,076 | 21,622 |
Total changes that relate to current service | 5,076 | 21,622 |
Changes that relate to past service | 255 | (628) |
Insurance service result | (158,370) | (143,443) |
Insurance finance expenses (income) | 185,948 | (996,203) |
Total amounts recognized in comprehensive income | 27,578 | (1,139,646) |
Cash flows | ||
Premiums received | 1,748,139 | 1,479,110 |
Insurance acquisition cash flows | (138,544) | (130,221) |
Claims and other insurance service expenses paid | (1,107,850) | (951,330) |
Total cash flows | 501,745 | 397,559 |
Other | (834) | (1,008) |
Insurance contract assets, Ending | (291,878) | (341,096) |
Insurance contracts liabilities, Ending | 10,697,166 | 10,217,895 |
Net amounts, Ending | 10,405,288 | 9,876,799 |
Insurance contracts not measured under PAA [member] | Risk adjustment for non-financial risk [member] | ||
Disclosure of reconciliation of changes in insurance contracts by components [line items] | ||
Insurance contract assets, Beginning | 39,067 | 10,092 |
Insurance contract liabilities, Beginning | 381,950 | 436,103 |
Net amounts, Beginning | 421,017 | 446,195 |
Changes that relate to future service | ||
Changes in estimates that adjust the CSM | (18,328) | (29,046) |
Changes in estimates that do not adjust the CSM | (3,532) | (2,512) |
Effect of contracts initially recognized during the period | 40,912 | 28,042 |
Total changes that relate to future service | 19,052 | (3,516) |
Changes that relate to current service | ||
Change in risk adjustment for non-financial risk due to release of risk | (26,899) | (23,466) |
Total changes that relate to current service | (26,899) | (23,466) |
Changes that relate to past service | (2) | (23) |
Insurance service result | (7,849) | (27,005) |
Insurance finance expenses (income) | 3,262 | 1,357 |
Total amounts recognized in comprehensive income | (4,587) | (25,648) |
Cash flows | ||
Other | 52 | 470 |
Insurance contract assets, Ending | 27,824 | 39,067 |
Insurance contracts liabilities, Ending | 388,658 | 381,950 |
Net amounts, Ending | 416,482 | 421,017 |
Insurance contracts not measured under PAA [member] | CSM [member] | ||
Disclosure of reconciliation of changes in insurance contracts by components [line items] | ||
Insurance contract assets, Beginning | 241,278 | 156,727 |
Insurance contract liabilities, Beginning | 1,811,339 | 1,810,803 |
Net amounts, Beginning | 2,052,617 | 1,967,530 |
Changes that relate to future service | ||
Changes in estimates that adjust the CSM | (215,087) | (125,959) |
Effect of contracts initially recognized during the period | 364,328 | 293,310 |
Total changes that relate to future service | 149,241 | 167,351 |
Changes that relate to current service | ||
CSM recognized in profit or loss for the services provided | (151,841) | (151,483) |
Total changes that relate to current service | (151,841) | (151,483) |
Insurance service result | (2,600) | 15,868 |
Insurance finance expenses (income) | 57,995 | 69,528 |
Total amounts recognized in comprehensive income | 55,395 | 85,396 |
Cash flows | ||
Other | 76 | (309) |
Insurance contract assets, Ending | 207,079 | 241,278 |
Insurance contracts liabilities, Ending | 1,901,009 | 1,811,339 |
Net amounts, Ending | ¥ 2,108,088 | ¥ 2,052,617 |
Insurance contracts in the fi_8
Insurance contracts in the financial services segment - Summary of effect of insurance contracts initially recognized (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | ¥ 2,116 | ¥ 2,645 |
Claims and other insurance service expenses [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,122,195 | 1,681,886 |
Insurance acquisition cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 145,877 | 146,270 |
Estimates of present value of future cash outflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,268,072 | 1,828,156 |
Estimates of present value of future cash inflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | (2,671,196) | (2,146,863) |
Estimates of present value of future cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | (403,124) | (318,707) |
Risk adjustment for non-financial risk [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 40,912 | 28,042 |
CSM [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 364,328 | 293,310 |
Profitable Contracts Issued [Member] | Claims and other insurance service expenses [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,117,351 | 1,675,615 |
Profitable Contracts Issued [Member] | Insurance acquisition cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 143,674 | 144,128 |
Profitable Contracts Issued [Member] | Estimates of present value of future cash outflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,261,025 | 1,819,743 |
Profitable Contracts Issued [Member] | Estimates of present value of future cash inflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | (2,666,256) | (2,141,084) |
Profitable Contracts Issued [Member] | Estimates of present value of future cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | (405,231) | (321,341) |
Profitable Contracts Issued [Member] | Risk adjustment for non-financial risk [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 40,903 | 28,031 |
Profitable Contracts Issued [Member] | CSM [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 364,328 | 293,310 |
Onerous Contract Issued [Member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,116 | 2,645 |
Onerous Contract Issued [Member] | Claims and other insurance service expenses [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 4,844 | 6,271 |
Onerous Contract Issued [Member] | Insurance acquisition cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,203 | 2,142 |
Onerous Contract Issued [Member] | Estimates of present value of future cash outflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 7,047 | 8,413 |
Onerous Contract Issued [Member] | Estimates of present value of future cash inflows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | (4,940) | (5,779) |
Onerous Contract Issued [Member] | Estimates of present value of future cash flows [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | 2,107 | 2,634 |
Onerous Contract Issued [Member] | Risk adjustment for non-financial risk [member] | ||
Disclosure of effect of insurance contracts initially recognised [line items] | ||
Effect of contracts initially recognized in the year | ¥ 9 | ¥ 11 |
Insurance contracts in the fi_9
Insurance contracts in the financial services segment - Summary of breakdown of insurance revenue (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of analysis of insurance revenue [line items] | ||
Insurance revenue | ¥ 586,115 | ¥ 554,570 |
Insurance contracts to which premium allocation approach has not been applied [member] | ||
Disclosure of analysis of insurance revenue [line items] | ||
Expected incurred claims and insurance service expenses | 163,182 | 152,732 |
Changes in risk adjustments for non-financial risk due to release of risk | 26,899 | 23,466 |
CSM recognized in profit or loss for services provided | 151,841 | 151,483 |
Total amounts relating to the changes in the liability for remaining coverage | 341,922 | 327,681 |
Recovery of insurance acquisition cash flows | 109,824 | 98,234 |
Insurance revenue | 451,746 | 425,915 |
Insurance contracts to which premium allocation approach has been applied [member] | ||
Disclosure of analysis of insurance revenue [line items] | ||
Insurance revenue | ¥ 134,369 | ¥ 128,655 |
Insurance contracts in the f_10
Insurance contracts in the financial services segment - Summary of timing of when the CSM (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | ¥ 2,108,088 | ¥ 2,052,617 | ¥ 1,967,530 |
Not later than one year [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 125,233 | 120,412 | |
Later than one year and not later than two years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 117,663 | 112,562 | |
Later than two years and not later than three years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 109,776 | 105,060 | |
Later than three years and not later than four years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 100,912 | 97,082 | |
Later than four years and not later than five years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 92,671 | 89,903 | |
Later than five years and not later than ten years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | 376,011 | 367,009 | |
Later than ten years [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual service margin | ¥ 1,185,822 | ¥ 1,160,589 |
Insurance contracts in the f_11
Insurance contracts in the financial services segment - Summary of Insurance Finance Income or Expenses and investment returns on Assets Recognized in Profit or Loss (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | ||||
Disclosure of adjustments made when entity changed basis of disaggregation of insurance finance income (expenses) between profit or loss and other comprehensive income for contracts with direct participation features [line items] | ||||||
Financial assets measured at FVPL | [1] | ¥ 715,388 | ¥ (59,193) | |||
Interest income from debt instruments required to be measured at FVOCI | [1] | 180,822 | 179,207 | |||
Currency exchange differences | [1] | 156,970 | 93,858 | |||
Other | [1] | (35,463) | (12,374) | |||
Total net investment returns | [1] | 1,017,717 | 201,498 | |||
Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks | [2] | 685,726 | (176,328) | |||
Interest accreted | [2] | 183,188 | 174,107 | |||
Currency exchange differences | [2] | 173,230 | 103,391 | |||
Other | [2] | (12,444) | (15,771) | |||
Total insurance finance expenses (income) | [2] | 1,029,700 | 85,399 | |||
Amounts recognized in profit or loss | (11,983) | 116,099 | ||||
Underlying assets | (969,774) | (1,131,508) | ||||
Total net investment returns | (969,774) | (1,131,508) | ||||
Effect of changes in interest rates and other financial risks | [2] | (782,495) | (1,010,761) | |||
Other | [2] | 44 | ||||
Total insurance finance expenses (income) | (782,495) | [2] | (1,010,717) | [2] | ¥ (807) | |
Amounts recognized in other comprehensive income | (187,279) | (120,791) | ||||
Total net investment returns and insurance finance income or expenses | ¥ (199,262) | ¥ (4,692) | ||||
[1]Included in other financial services revenue in the consolidated statements of income.[2]Expenses are presented as positive and income is presented as negative. |
Insurance contracts in the f_12
Insurance contracts in the financial services segment - Summary of Underlying Items of Insurance Contracts Measured Under The Variable Fee Approach and their fair values (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | ¥ 2,232,501 | ¥ 1,329,954 |
Cash and cash equivalents [member] | ||
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | 19,411 | 23,723 |
Japanese national/local government bonds and corporate bonds [member] | ||
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | 42,349 | 40,143 |
Foreign national/local government bonds and corporate bonds [member] | ||
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | 312,919 | 157,724 |
Equity securities [member] | ||
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | 1,855,432 | 1,107,400 |
Other [member] | ||
Disclosure In Tabular Form Of Underlying Items Of Contracts Measured Under The Variable Fee Approach [Line Items] | ||
Total fair values of the underlying items of insurance contracts measured under the variable fee approach | ¥ 2,390 | ¥ 964 |
Insurance contracts in the f_13
Insurance contracts in the financial services segment - Summary of Insurance revenue and the CSM by transition approach (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure In Tabular Form Of Insurance Revenue And Changes In Contractual Service Margin By Transition Approach [Line Items] | ||
Insurance revenue | ¥ 586,115 | ¥ 554,570 |
Beginning balance | 2,052,617 | 1,967,530 |
Changes that relate to future service | 149,241 | 167,351 |
Changes that relate to current service | (151,841) | (151,483) |
Insurance finance expense (income) | 57,995 | 69,528 |
Other | 76 | (309) |
Ending balance | 2,108,088 | 2,052,617 |
Contracts measured under the modified retrospective approach at transition [member] | ||
Disclosure In Tabular Form Of Insurance Revenue And Changes In Contractual Service Margin By Transition Approach [Line Items] | ||
Insurance revenue | 185,731 | 190,199 |
Beginning balance | 864,530 | 912,623 |
Changes that relate to future service | (61,165) | (2,007) |
Changes that relate to current service | (66,827) | (74,984) |
Insurance finance expense (income) | 26,954 | 29,352 |
Other | 177 | (454) |
Ending balance | 763,669 | 864,530 |
Contracts measured under the fair value approach at transition [member] | ||
Disclosure In Tabular Form Of Insurance Revenue And Changes In Contractual Service Margin By Transition Approach [Line Items] | ||
Insurance revenue | 27,079 | 26,988 |
Beginning balance | 58,008 | 26,938 |
Changes that relate to future service | 32,341 | 34,088 |
Changes that relate to current service | (5,834) | (3,778) |
Insurance finance expense (income) | 1,673 | 1,107 |
Other | 83 | (347) |
Ending balance | 86,271 | 58,008 |
New contracts and contracts measured under the full retrospective approach at transition [member] | ||
Disclosure In Tabular Form Of Insurance Revenue And Changes In Contractual Service Margin By Transition Approach [Line Items] | ||
Insurance revenue | 373,305 | 337,383 |
Beginning balance | 1,130,079 | 1,027,969 |
Changes that relate to future service | 178,065 | 135,270 |
Changes that relate to current service | (79,180) | (72,721) |
Insurance finance expense (income) | 29,368 | 39,069 |
Other | (184) | 492 |
Ending balance | ¥ 1,258,148 | ¥ 1,130,079 |
Insurance contracts in the f_14
Insurance contracts in the financial services segment - Summary of disclosure of changes in accumulated other comprehensive income for financial assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of reserve of gains and losses on financial assets measured at fair value through other comprehensive income related to insurance contracts to which paragraphs C18(b), C19(b), C24(b) and C24(c) of IFRS 17 have been applied [abstract] | ||
Beginning balance of the fiscal year | ¥ (448,390) | ¥ (878,774) |
Net change in fair value | 618,978 | 590,737 |
Net amount reclassified to profit or loss | 16,903 | 7,018 |
Related income tax | (178,046) | (167,371) |
Ending balance of the fiscal year | ¥ 9,445 | ¥ (448,390) |
Insurance contracts in the f_15
Insurance contracts in the financial services segment - Summary of Redesignation of Financial Assets (Detail) ¥ in Millions | Apr. 01, 2023 JPY (¥) |
Japanese National Local Government Bonds And Corporate Bonds [Member] | Financial assets at fair value through profit or loss, category [member] | |
Disclosure of redesignation of financial assets at date of initial application of IFRS 17 [line items] | |
Before application carrying amount | ¥ 1,277,090 |
After application carrying amount | 1,277,090 |
Japanese National Local Government Bonds And Corporate Bonds [Member] | Financial assets at fair value through other comprehensive income, category [member] | |
Disclosure of redesignation of financial assets at date of initial application of IFRS 17 [line items] | |
Before application carrying amount | 84,651 |
After application carrying amount | 88,497 |
Foreign National Local Government Bonds and Corporate Bonds [Member] | Financial assets at fair value through profit or loss, category [member] | |
Disclosure of redesignation of financial assets at date of initial application of IFRS 17 [line items] | |
Before application carrying amount | 20,570 |
After application carrying amount | ¥ 20,570 |
Insurance contracts in the f_16
Insurance contracts in the financial services segment - Summary of Changing the Underlying Assumptions of MCEV (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Apr. 01, 2022 | Mar. 31, 2021 | |
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | ¥ 1,268,662 | ¥ 1,274,496 | ¥ 1,117,503 | ||
Equity | 7,756,105 | 6,657,150 | ¥ 7,197,249 | ¥ 5,706,582 | ¥ 6,724,339 |
Interest rates, measurement input [member] | 50bp decrease [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 12,949 | 3,470 | |||
Equity | 153,000 | 123,869 | |||
Interest rates, measurement input [member] | 50bp decrease [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (152,232) | (215,660) | |||
Equity | (653,432) | (822,046) | |||
Interest rates, measurement input [member] | 50bp decrease [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 165,181 | 219,130 | |||
Equity | 806,432 | 945,915 | |||
Interest rates, measurement input [member] | 50bp increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (30,632) | (19,319) | |||
Equity | (156,740) | (132,895) | |||
Interest rates, measurement input [member] | 50bp increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 112,418 | 168,357 | |||
Equity | 548,289 | 689,356 | |||
Interest rates, measurement input [member] | 50bp increase [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (143,050) | (187,676) | |||
Equity | (705,029) | (822,251) | |||
Fair value of stocks [Member] | 10% decrease [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (2,362) | (3,194) | |||
Equity | (2,161) | (2,649) | |||
Fair value of stocks [Member] | 10% decrease [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 339,421 | 210,057 | |||
Equity | 244,383 | 151,241 | |||
Fair value of stocks [Member] | 10% decrease [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (341,783) | (213,251) | |||
Equity | (246,544) | (153,890) | |||
Fair value of stocks [Member] | 10% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (3,138) | (571) | |||
Equity | (1,799) | (62) | |||
Fair value of stocks [Member] | 10% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (344,921) | (213,822) | |||
Equity | (248,343) | (153,952) | |||
Fair value of stocks [Member] | 10% increase [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 341,783 | 213,251 | |||
Equity | 246,544 | 153,890 | |||
Foreign exchange rates [Member] | 10% appreciation of the Yen [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (1,601) | (19,604) | |||
Equity | 27,485 | 2,083 | |||
Foreign exchange rates [Member] | 10% appreciation of the Yen [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 468,851 | 319,330 | |||
Equity | 315,357 | 213,577 | |||
Foreign exchange rates [Member] | 10% appreciation of the Yen [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (470,452) | (338,934) | |||
Equity | (287,872) | (211,494) | |||
Foreign exchange rates [Member] | 10% depreciation of the Yen [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (5,037) | 16,432 | |||
Equity | (32,264) | (4,367) | |||
Foreign exchange rates [Member] | 10% depreciation of the Yen [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (475,489) | (322,502) | |||
Equity | (320,136) | (215,861) | |||
Foreign exchange rates [Member] | 10% depreciation of the Yen [member] | Financial instruments [Member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 470,452 | 338,934 | |||
Equity | 287,872 | 211,494 | |||
Maintenance expenses rates [Member] | 10% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (4,780) | (3,934) | |||
Equity | (8,024) | (7,028) | |||
Maintenance expenses rates [Member] | 10% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (4,780) | (3,934) | |||
Equity | (8,024) | (7,028) | |||
Lapse and surrender rates [Member] | 10% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (13,351) | 596 | |||
Equity | (13,140) | 16,398 | |||
Lapse and surrender rates [Member] | 10% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (13,351) | 596 | |||
Equity | (13,140) | 16,398 | |||
Mortality rates (death protection) [Member] | 5% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (4,892) | (6,395) | |||
Equity | (5,501) | (6,443) | |||
Mortality rates (death protection) [Member] | 5% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (4,892) | (6,395) | |||
Equity | (5,501) | (6,443) | |||
Mortality rates (third sector / annuity products) [Member] | 5% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 1,382 | 1,941 | |||
Equity | 2,054 | 4,629 | |||
Mortality rates (third sector / annuity products) [Member] | 5% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | 1,382 | 1,941 | |||
Equity | 2,054 | 4,629 | |||
Morbidity rates [Member] | 5% increase [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (8,239) | (9,373) | |||
Equity | (11,700) | (18,197) | |||
Morbidity rates [Member] | 5% increase [member] | Insurance contracts [member] | |||||
Disclosure Of Changes in Underlying Assumptions Of Market Consistent Embedded value [Line Items] | |||||
Income before income taxes | (8,239) | (9,373) | |||
Equity | ¥ (11,700) | ¥ (18,197) |
Insurance contracts in the f_17
Insurance contracts in the financial services segment - Summary of the Remaining Undiscounted Net Cash Flows (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | ¥ 19,173,131 | ¥ 16,809,194 |
Securities held in the insurance business | 20,808,629 | 19,640,244 |
Indefinite Term [Member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Securities held in the insurance business | 3,687,375 | 2,408,401 |
Not later than one year [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 60,673 | (75,482) |
Securities held in the insurance business | 780,798 | 636,352 |
Later than one year and not later than two years [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 86,008 | (44,017) |
Securities held in the insurance business | 341,277 | 367,283 |
Later than two years and not later than three years [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 127,079 | 9,281 |
Securities held in the insurance business | 355,062 | 345,113 |
Later than three years and not later than four years [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 175,412 | 54,108 |
Securities held in the insurance business | 374,354 | 322,176 |
Later than four years and not later than five years [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 248,021 | 102,498 |
Securities held in the insurance business | 305,612 | 428,997 |
Later than five years [member] | ||
Disclosure Of Remaining Undiscounted Cash Flows From Insurance Contracts Liabilities And Marketable Securities And Security Investments [Line Items] | ||
Insurance contract liabilities and investment contract liabilities | 18,475,938 | 16,762,806 |
Securities held in the insurance business | ¥ 14,964,151 | ¥ 15,131,922 |
Insurance contracts in the f_18
Insurance contracts in the financial services segment - Summary of Amounts payable on demand (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of types of insurance contract [Abstract] | ||
Amounts payable on demand | ¥ 12,580,674 | ¥ 11,016,303 |
Carrying amount | ¥ 12,870,195 | ¥ 12,290,369 |
Insurance contracts in the f_19
Insurance contracts in the financial Services segment - Additional Information (Detail) | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Forward rate | 3.50% | 3.50% |
Confidence level | 99.50% | 99.50% |
Weighted average cost of capital, measurement input [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Confidence level, Risk exposure to non-financial risk | 3% | 3% |
Cost approach [member] | ||
Disclosure of yield curve used to discount cash flows that do not vary based on returns on underlying items [line items] | ||
Confidence level, Risk exposure to non-financial risk | 84.10% | 86% |
Short-term borrowings and lon_3
Short-term borrowings and long-term debt - Summary of Short-Term Borrowings and Long-Term Debt (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | |
Disclosure of detailed information about borrowings [line items] | |||
Short-term borrowings | ¥ 1,812,605 | ¥ 1,914,934 | ¥ 1,976,553 |
Long-term debt | |||
Long-term loans | 1,160,024 | 1,074,060 | |
Unsecured bonds | 544,078 | 349,332 | |
Lease liabilities | 571,726 | 532,246 | |
Total | 2,275,828 | 1,955,638 | |
Less — Portion due within one year | 217,711 | 187,942 | 171,409 |
Non-current portion of non-current borrowings | ¥ 2,058,117 | ¥ 1,767,696 | ¥ 1,203,646 |
Short-term borrowings [member] | Weighted average [member] | |||
Long-term debt | |||
Borrowings, interest rate | 2.64% | 1.89% | |
Long-term loans [member] | Bottom of range [member] | |||
Long-term debt | |||
Borrowings, maturity | 2024 | 2023 | |
Long-term loans [member] | Top of range [member] | |||
Long-term debt | |||
Borrowings, maturity | 2058 | 2056 | |
Long-term loans [member] | Weighted average [member] | |||
Long-term debt | |||
Borrowings, interest rate | 1.90% | 1.70% | |
Unsecured Bonds [Member] | Bottom of range [member] | |||
Long-term debt | |||
Borrowings, maturity | 2024 | 2023 | |
Unsecured Bonds [Member] | Top of range [member] | |||
Long-term debt | |||
Borrowings, maturity | 2034 | 2029 | |
Unsecured Bonds [Member] | Weighted average [member] | |||
Long-term debt | |||
Borrowings, interest rate | 0.41% | 0.30% | |
Lease liabilities [member] | Weighted average [member] | |||
Long-term debt | |||
Borrowings, interest rate | 2.53% | 2.35% |
Short-term borrowings and lon_4
Short-term borrowings and long-term debt - Summary of Pledged Assets as Collateral (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Certain Assets Pledged As Collateral For Short Term Borrowings And Long Term Debt [Line Items] | ||
Securities | ¥ 4,728 | |
Securities | ¥ 77,524 | 80,328 |
Securities [member] | ||
Certain Assets Pledged As Collateral For Short Term Borrowings And Long Term Debt [Line Items] | ||
Financial assets pledged as collateral for liabilities or contingent liabilities | 1,597,034 | 1,678,553 |
Housing Loans in The Banking Business [member] | ||
Certain Assets Pledged As Collateral For Short Term Borrowings And Long Term Debt [Line Items] | ||
Financial assets pledged as collateral for liabilities or contingent liabilities | ¥ 883,882 | ¥ 829,659 |
Short-term borrowings and lon_5
Short-term borrowings and long-term debt - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2024 JPY (¥) | |
Corporate Bonds Issued December Two Thousand And Twenty Four [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Borrowings notional amount | ¥ 150,000 |
Commercial Paper [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Repayments of current borrowings | ¥ 80,000 |
Derivative instruments and he_3
Derivative instruments and hedging activities - Summary of outstanding derivative instruments (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | ¥ 72,423 | ¥ 70,144 |
Derivative financial liabilities | 29,287 | 34,123 |
Interest rate swap agreements [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 49,347 | 43,464 |
Derivative financial liabilities | 3,876 | 3,139 |
Interest rate swaptions agreements [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 272 | 380 |
Derivative financial liabilities | 2,574 | 2,517 |
Foreign exchange forward contracts [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 6,951 | 12,496 |
Derivative financial liabilities | 11,088 | 12,257 |
Swap agreements [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 7,442 | 3,774 |
Derivative financial liabilities | 4,066 | 5,781 |
Currency option contracts purchased [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 74 | 508 |
Derivative financial liabilities | 791 | 835 |
Currency option contracts written [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial liabilities | 4 | 5 |
Other currency contracts [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 5,958 | 4,540 |
Derivative financial liabilities | 1,544 | 998 |
Equity future contracts [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | 290 | |
Derivative financial liabilities | 3,428 | 3,321 |
Equity swap agreements [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial liabilities | 1,916 | 5,270 |
Option contracts purchased [member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial assets | ¥ 2,379 | ¥ 4,692 |
Derivative instruments and he_4
Derivative instruments and hedging activities - Summary of estimated fair values and maturity analysis for notional amounts of sony's outstanding derivative instruments (Detail) - Cash flow hedges [member] ¥ in Millions, yen in Millions | Mar. 31, 2024 JPY (¥) yen | Mar. 31, 2023 JPY (¥) yen |
Foreign exchange forward contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Asset derivatives | ¥ | ¥ 458 | |
Liability derivatives | ¥ | ¥ 1,580 | |
Nominal amount of hedging instrument | 92,973 | 70,125 |
Currency option contracts purchased [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Asset derivatives | ¥ | ¥ 70 | ¥ 502 |
Nominal amount of hedging instrument | 17,224 | 45,789 |
Currency option sold contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Liability derivatives | ¥ | ¥ 791 | ¥ 835 |
Nominal amount of hedging instrument | 17,554 | 47,995 |
Interest rate swap agreements [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Asset derivatives | ¥ | ¥ 33,098 | ¥ 28,513 |
Nominal amount of hedging instrument | 181,704 | 159,918 |
Within 1Year [member] | Foreign exchange forward contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amount of hedging instrument | 92,973 | 70,125 |
Average rate (JPY/USD): | 145.7 | 131.3 |
Within 1Year [member] | Currency option contracts purchased [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amount of hedging instrument | 17,224 | 45,789 |
Average rate (JPY/USD): | 140 | 125.8 |
Within 1Year [member] | Currency option sold contracts [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amount of hedging instrument | 17,554 | 47,995 |
Average rate (JPY/USD): | 142.7 | 131.9 |
Later than one year [member] | Interest rate swap agreements [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amount of hedging instrument | 181,704 | 159,918 |
Average rate | 1.50% | 1.50% |
Derivative instruments and he_5
Derivative instruments and hedging activities - Summary of changes in fair value of hedging instruments related to cash flow hedges recorded in accumulated other comprehensive income (Detail) - Cash Flow Hedges [member] - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Disclosure Of Information About Change In Fair Value Of Hedging Instruments Related To Cash Flow Hedges Recorded In Accumulated Other Comprehensive Income [Line Items] | |||
Balance at the beginning | ¥ 18,413 | ¥ 6,034 | |
Changes in fair value of hedging instruments recognized in other comprehensive income | (15,032) | (12,975) | |
Reclassification adjustments to profit(loss) for the year | [1],[2] | 16,982 | 30,813 |
Deffered Tax | (598) | (5,459) | |
Balance at the end | 19,765 | 18,413 | |
Foreign Exchange Contract [Member] | |||
Disclosure Of Information About Change In Fair Value Of Hedging Instruments Related To Cash Flow Hedges Recorded In Accumulated Other Comprehensive Income [Line Items] | |||
Balance at the beginning | (36) | (5,503) | |
Changes in fair value of hedging instruments recognized in other comprehensive income | (28,288) | (26,950) | |
Reclassification adjustments to profit(loss) for the year | [1],[2] | 25,862 | 34,825 |
Deffered Tax | 742 | (2,408) | |
Balance at the end | (1,720) | (36) | |
Interest Rate Contracts [Member] | |||
Disclosure Of Information About Change In Fair Value Of Hedging Instruments Related To Cash Flow Hedges Recorded In Accumulated Other Comprehensive Income [Line Items] | |||
Balance at the beginning | 18,449 | 11,537 | |
Changes in fair value of hedging instruments recognized in other comprehensive income | 13,256 | 13,975 | |
Reclassification adjustments to profit(loss) for the year | [1],[2] | (8,880) | (4,012) |
Deffered Tax | (1,340) | (3,051) | |
Balance at the end | ¥ 21,485 | ¥ 18,449 | |
[1]For the fiscal years ended March 31, 2023 and 2024, hedge ineffectiveness recognized in profit or loss was not material.[2]In the consolidated statements of income, the amount reclassified to profit (loss) is included in sales for hedges of foreign exchange contracts and in financial expenses for hedges of interest rate contracts. |
Offsetting of financial asset_3
Offsetting of financial assets and financial liabilities - Summary of Offsetting Financial Assets and Financial Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | ¥ 82,586 | ¥ 210,254 | |
Gross financial liabilities set off against financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 47,550 | 174,930 | |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 35,036 | 35,324 | |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | 12,098 | 16,430 | |
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets | 17,878 | 13,852 | |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 5,060 | 5,042 | |
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 1,602,436 | 1,870,944 | |
Gross financial assets set off against financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 47,550 | 174,930 | |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 1,554,886 | 1,696,014 | |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | 1,516,608 | 1,578,295 | |
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | 6,522 | 5,216 | |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 31,756 | 112,503 | |
Derivative Liabilities [member] | |||
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [1] | 28,107 | 31,997 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | [1] | 28,107 | 31,997 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | [1] | 13,153 | 21,700 |
Cash collateral pledged subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | [1] | 6,522 | 5,216 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [1] | 8,432 | 5,081 |
Trade Payables [member] | |||
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | 69,436 | 281,295 |
Gross financial assets set off against financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | 47,550 | 174,930 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | [2] | 21,886 | 106,365 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | 21,886 | 106,365 |
Short-term borrowings [member] | |||
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [3] | 1,504,893 | 1,557,652 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | [3] | 1,504,893 | 1,557,652 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | [3] | 1,503,455 | 1,556,595 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | [3] | 1,438 | 1,057 |
Derivative Assets [member] | |||
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | [1] | 33,661 | 34,382 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | [1] | 33,661 | 34,382 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | [1] | 12,098 | 16,430 |
Cash collateral received subject to enforceable master netting arrangement or similar agreement not set off against financial assets | [1] | 17,878 | 13,852 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | [1] | 3,685 | 4,100 |
Trade receivables [member] | |||
Disclosure of detailed information about offsetting of financial assets and financial liabilities. [Line Items] | |||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | 48,925 | 175,872 |
Gross financial liabilities set off against financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | 47,550 | 174,930 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | [2] | 1,375 | 942 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | [2] | ¥ 1,375 | ¥ 942 |
[1]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. Master netting agreements create a right of set off, but the master netting agreements do not automatically provide for such set off.[2]Amounts offset in the consolidated statements of financial position are related to repurchase agreements of products.[3]Short-term borrowings relate to bond lending transactions and repurchase agreements (repos). |
Employee benefits - Additional
Employee benefits - Additional Information (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of defined benefit plans [line items] | ||
Percentage of indemnities cover under defined benefits plan | 65% | |
Defined Benefit Plan Equity Securities [Member] | Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 18% | 15% |
Defined Benefit Plan Equity Securities [Member] | Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 2% | 1% |
Defined Benefit Plan Fixed Income Securities [Member] | Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 51% | 53% |
Defined Benefit Plan Fixed Income Securities [Member] | Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 13% | 28% |
Defined Benefit Plan Other Investments [Member] | Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 31% | 32% |
Defined Benefit Plan Other Investments [Member] | Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan percentage of amount contributed to fair value of plan assets | 85% | 71% |
Defined Benefit Plan Securities [Member] | Plan assets [member] | Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected contributions to plan assets by employer during the next fiscal year | ¥ 2 | |
Defined Benefit Plan Securities [Member] | Plan assets [member] | Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected contributions to plan assets by employer during the next fiscal year | ¥ 5 |
Employee benefits - Summary of
Employee benefits - Summary of Amounts Recognized in Relation to Net Defined Benefit Liability Asset in Statements of Financial Position (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Present value of defined benefit obligations | ¥ 543,292 | ¥ 573,143 |
Fair value of plan assets | (464,376) | (447,747) |
The impact of minimum funding requirement and asset ceiling | 9,837 | 6,897 |
Net defined benefit asset | (69,208) | (28,334) |
Net defined benefit liability | 157,961 | 160,627 |
Net amount | 88,753 | 132,293 |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Present value of defined benefit obligations | 126,987 | 124,702 |
Fair value of plan assets | (47,893) | (56,987) |
The impact of minimum funding requirement and asset ceiling | 3,457 | 3,455 |
Net defined benefit asset | (2,328) | (1,775) |
Net defined benefit liability | 84,879 | 72,945 |
Net amount | ¥ 82,551 | ¥ 71,170 |
Employee benefits - Summary o_2
Employee benefits - Summary of Changes in the Defined Benefit Obligations Present Value of Defined Benefit Obligations (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | ¥ 132,293 | |
Remeasurements: | ||
Ending balance of the fiscal year | 88,753 | ¥ 132,293 |
Japanese Defined Benefit Plans [Member] | Present value of defined benefit obligation [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 573,143 | 614,763 |
Current service cost | 12,078 | 12,660 |
Past service cost | 11 | 5 |
Interest cost | 6,534 | 4,367 |
Remeasurements: | ||
Change in demographic assumptions | 4,399 | 2,974 |
Change in financial assumptions | (16,568) | (27,314) |
Other | 1,677 | (569) |
Benefits paid | (37,787) | (33,741) |
Other | (195) | (2) |
Ending balance of the fiscal year | 543,292 | 573,143 |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 71,170 | |
Remeasurements: | ||
Ending balance of the fiscal year | 82,551 | 71,170 |
Foreign Defined Benefit Plan [Member] | Present value of defined benefit obligation [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 124,702 | 277,903 |
Current service cost | 1,783 | 2,319 |
Past service cost | 142 | (365) |
Interest cost | 5,349 | 4,623 |
Remeasurements: | ||
Change in demographic assumptions | (385) | (458) |
Change in financial assumptions | 1,170 | (60,179) |
Other | 632 | (940) |
Translation adjustments | 16,068 | 11,213 |
Plan participants' contributions | 565 | 516 |
Benefits paid | (11,198) | (9,798) |
Curtailments and settlements | (11,841) | (100,132) |
Ending balance of the fiscal year | ¥ 126,987 | ¥ 124,702 |
Employee benefits - Summary o_3
Employee benefits - Summary of Weighted Average Duration of Defined Benefit Obligations (Detail) | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 10 years 10 months 24 days | 11 years 2 months 12 days |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligations | 12 years 6 months | 12 years 2 months 12 days |
Employee benefits - Summary o_4
Employee benefits - Summary of Weighted-Average Actuarial Assumptions Used to Determine the Present Value of Defined Benefit Obligations (Detail) | Mar. 31, 2024 | Mar. 31, 2023 |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of significant weighted average actuarial assumptions used to determine the present value of defined benefit obligations explanatory [Line Items] | ||
Actuarial assumption of discount rates | 1.40% | 1.10% |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of significant weighted average actuarial assumptions used to determine the present value of defined benefit obligations explanatory [Line Items] | ||
Actuarial assumption of discount rates | 4.10% | 4.30% |
Employee benefits - Summary o_5
Employee benefits - Summary of Sensitivity of the Defined Benefit Obligations (Detail) - Actuarial assumption of discount rates [member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease in significant weighted-average | ¥ 14,362 | ¥ 16,042 |
Increase in significant weighted-average | (12,077) | (13,201) |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Decrease in significant weighted-average | 3,657 | 3,487 |
Increase in significant weighted-average | ¥ (3,493) | ¥ (3,316) |
Employee benefits - Summary o_6
Employee benefits - Summary of Changes in the Plan Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Japanese Defined Benefit Plans [Member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance of the fiscal year | ¥ 132,293 | ||
Remeasurements: | |||
Ending balance of the fiscal year | 88,753 | ¥ 132,293 | |
Foreign Defined Benefit Plan [Member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance of the fiscal year | 71,170 | ||
Remeasurements: | |||
Ending balance of the fiscal year | 82,551 | 71,170 | |
Plan assets [member] | Japanese Defined Benefit Plans [Member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance of the fiscal year | 447,747 | 474,933 | |
Interest income | 5,424 | 3,649 | |
Remeasurements: | |||
Return on plan assets excluding interest income | 32,764 | (13,378) | |
Employer contribution | 2,316 | 5,650 | |
Benefits paid | (23,875) | (23,107) | |
Ending balance of the fiscal year | 464,376 | 447,747 | |
Plan assets [member] | Foreign Defined Benefit Plan [Member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Beginning balance of the fiscal year | 56,987 | 198,791 | |
Interest income | 2,592 | 2,804 | |
Remeasurements: | |||
Return on plan assets excluding interest income | (2,485) | (43,173) | |
Translation adjustments | 7,521 | 5,760 | |
Employer contribution | 5,381 | 3,444 | |
Plan participants' contributions | 585 | 516 | |
Benefits paid | (10,603) | (8,240) | |
Curtailments and settlements | [1] | (12,085) | (102,915) |
Ending balance of the fiscal year | ¥ 47,893 | ¥ 56,987 | |
[1]Curtailments and settlements of the foreign plans for the fiscal year ended March 31, 2023 relate mainly to the termination of the defined benefit pension plan at certain U.K. subsidiaries. |
Employee benefits - Summary o_7
Employee benefits - Summary of Fair Value of Plan Assets Japanese Plans (Detail) - Japanese Defined Benefit Plans [Member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of fair value of plan assets [line items] | |||
Cash and cash equivalents | ¥ 8,390 | ¥ 18,060 | |
Equity securities | [1] | 56,122 | 37,562 |
Fixed income: | |||
Government bonds | [2] | 11,211 | 10,369 |
Corporate bonds | [3] | 5,403 | 4,587 |
Commingled funds | [4] | 297,828 | 287,978 |
Private equity | 40,017 | 40,612 | |
Hedge funds | 45,405 | 48,579 | |
Total | 464,376 | 447,747 | |
Quoted Market Prices in Active Market [Member] | |||
Disclosure of fair value of plan assets [line items] | |||
Cash and cash equivalents | 8,390 | 18,060 | |
Equity securities | [1] | 50,656 | 33,335 |
Fixed income: | |||
Government bonds | [2] | 1 | 975 |
Corporate bonds | [3] | 25 | |
Total | 59,047 | 52,395 | |
Unquoted Market Prices in Active Market [Member] | |||
Disclosure of fair value of plan assets [line items] | |||
Equity securities | [1] | 5,466 | 4,227 |
Fixed income: | |||
Government bonds | [2] | 11,210 | 9,394 |
Corporate bonds | [3] | 5,403 | 4,562 |
Commingled funds | [4] | 297,828 | 287,978 |
Private equity | 40,017 | 40,612 | |
Hedge funds | 45,405 | 48,579 | |
Total | ¥ 405,329 | ¥ 395,352 | |
[1]Represents primarily Japanese equity securities.[2]Includes approximately 85% and 84% of debt securities issued by Japanese national and local governments, and 15% and 16% of debt securities issued by foreign national and local governments as of the fiscal years ended March 31, 2023 and 2024, respectively.[3]Includes debt securities issued by Japanese and foreign corporations and government related agencies.[4]Commingled funds represent pooled institutional investments, including primarily investment trusts. |
Employee benefits - Summary o_8
Employee benefits - Summary of Fair Value of Plan Assets Japanese Plans (Parenthetical) (Detail) - Japanese Defined Benefit Plans [Member] | Mar. 31, 2024 | Mar. 31, 2023 |
Defined Benefit Plan Japanese National and local Governments Debt Securities [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Defined Benefit Plan Percentage of Amount Contributed To Fair Value Of Plan Assets | 84% | 85% |
Defined Benefit Plan Foreign National and Local Governments Debt Securities [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Defined Benefit Plan Percentage of Amount Contributed To Fair Value Of Plan Assets | 16% | 15% |
Employee benefits - Summary o_9
Employee benefits - Summary of Fair Value of Plan Assets Foreign Defined Benefit Plans (Detail) - Foreign Defined Benefit Plan [Member] - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of fair value of plan assets [line items] | |||
Cash and cash equivalents | ¥ 4,692 | ¥ 2,403 | |
Equity securities | [1] | 84 | 65 |
Fixed income securities contributed to fair value of plan assets [Abstract] | |||
Government bonds | [2] | 1,152 | 2,135 |
Corporate bonds | [3] | 160 | 12,052 |
Asset-backed securities | 36 | 61 | |
Insurance contracts | [4] | 21,736 | 19,401 |
Commingled funds | [5] | 16,682 | 18,113 |
Real estate and other | 3,351 | 2,757 | |
Total | 47,893 | 56,987 | |
Quoted Market Prices in Active Market [Member] | |||
Disclosure of fair value of plan assets [line items] | |||
Cash and cash equivalents | 4,692 | 2,403 | |
Equity securities | [1] | 84 | 65 |
Fixed income securities contributed to fair value of plan assets [Abstract] | |||
Insurance contracts | [4] | 359 | 341 |
Real estate and other | 10 | 8 | |
Total | 5,145 | 2,817 | |
Unquoted Market Prices in Active Market [Member] | |||
Fixed income securities contributed to fair value of plan assets [Abstract] | |||
Government bonds | [2] | 1,152 | 2,135 |
Corporate bonds | [3] | 160 | 12,052 |
Asset-backed securities | 36 | 61 | |
Insurance contracts | [4] | 21,377 | 19,060 |
Commingled funds | [5] | 16,682 | 18,113 |
Real estate and other | 3,341 | 2,749 | |
Total | ¥ 42,748 | ¥ 54,170 | |
[1]Represents 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 and bulk insurance contracts.[5]Commingled funds represent pooled institutional investments, including primarily investment trusts. |
Employee benefits - Summary _10
Employee benefits - Summary of Changes in the Defined Benefit Obligations Impact of Minimum Funding Requirement and Asset Ceiling (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Japanese Defined Benefit Plans [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | ¥ 132,293 | |
Remeasurements: | ||
Ending balance of the fiscal year | 88,753 | ¥ 132,293 |
Foreign Defined Benefit Plan [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 71,170 | |
Remeasurements: | ||
Ending balance of the fiscal year | 82,551 | 71,170 |
Effect of asset ceiling [member] | Japanese Defined Benefit Plans [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 6,897 | 4,870 |
Interest income | 83 | 39 |
Remeasurements: | ||
Change in asset ceiling excluding interest income | 2,857 | 1,988 |
Ending balance of the fiscal year | 9,837 | 6,897 |
Effect of asset ceiling [member] | Foreign Defined Benefit Plan [Member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance of the fiscal year | 3,455 | 2,491 |
Interest income | 186 | 65 |
Remeasurements: | ||
Change in asset ceiling excluding interest income | (728) | 811 |
Translation adjustments | 544 | 88 |
Ending balance of the fiscal year | ¥ 3,457 | ¥ 3,455 |
Employee benefits - Summary _11
Employee benefits - Summary of Defined Contribution Expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Japanese Plans [Member] | |||
Disclosure of Detailed Information About Defined Contribution Plans Explanatory [Line Items] | |||
Total defined contribution expenses | ¥ 11,662 | ¥ 11,461 | ¥ 11,137 |
Foreign Plans [Member] | |||
Disclosure of Detailed Information About Defined Contribution Plans Explanatory [Line Items] | |||
Total defined contribution expenses | ¥ 16,137 | ¥ 17,271 | ¥ 11,154 |
Employee benefits - Summary _12
Employee benefits - Summary of Employee Benefit Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of Detailed Information About Employee Benefits Expense [Line Items] | |||
Total employee benefits expenses | ¥ 1,743,936 | ¥ 1,539,965 | ¥ 1,253,148 |
Participation and residual li_3
Participation and residual liabilities in the Pictures segment - Summary of Detailed Information on Participation and Residual Liabilities Explanatory (Detail) - Pictures Segment [Member] ¥ in Millions | 12 Months Ended |
Mar. 31, 2024 JPY (¥) | |
Disclosure Of Detailed Information On Participation And Residual Liabilities [Line Items] | |
Balance at beginning of the fiscal year | ¥ 423,175 |
Current portion | 230,223 |
Non-current portion | 192,952 |
Additional participation and residual liabilities | 213,572 |
Amounts paid during the year | (215,967) |
Unpaid amounts reversed during the year | (20,212) |
Translation adjustment | 57,256 |
Balance at end of the fiscal year | 457,824 |
Current portion | 251,743 |
Non-current portion | ¥ 206,081 |
Other assets and other liabil_3
Other assets and other liabilities - Summary of Other Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 |
Miscellaneous assets [abstract] | |||
Advance payments and prepaid expenses | ¥ 606,389 | ¥ 481,080 | |
Income taxes receivable and other taxes receivable | 253,267 | 243,569 | |
Insurance contract assets | 56,975 | 60,751 | |
Other | 266,109 | 197,302 | |
Total | 1,182,740 | 982,702 | |
Current assets | 669,335 | 563,334 | ¥ 428,522 |
Non-current assets | ¥ 513,405 | ¥ 419,368 | ¥ 379,137 |
Other assets and other liabil_4
Other assets and other liabilities - Summary of Other Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | |
Miscellaneous liabilities [abstract] | ||||
Contract liabilities | [1] | ¥ 534,432 | ¥ 508,454 | ¥ 366,227 |
Accrued short-term employee benefits | 477,737 | 394,948 | ||
Refund liabilities | 218,465 | 197,836 | ||
Taxes payable other than income taxes | 167,244 | 185,230 | ||
Accrued expenses | 244,784 | 171,345 | ||
Insurance contract liabilities | 162,344 | 145,057 | ||
Other long-term employee benefit obligations | 91,251 | 64,684 | ||
Product warranties | 24,753 | 26,167 | ||
Other | 147,765 | 127,252 | ||
Total | 2,068,775 | 1,820,973 | ||
Current liabilities | 1,906,396 | 1,693,380 | 1,465,326 | |
Non-current liabilities | ¥ 162,379 | ¥ 127,593 | ¥ 106,481 | |
[1]Contract liabilities are included in the consolidated statements of financial position as “Other current liabilities” and “Other non-current liabilities.” |
Other assets and other liabil_5
Other assets and other liabilities - Summary of Changes in Product Warranties (Detail) - Warranty provision [member] ¥ in Millions | 12 Months Ended |
Mar. 31, 2024 JPY (¥) | |
Disclosure of other provisions [line items] | |
Balance at beginning of the fiscal year | ¥ 26,167 |
Additional product warranties | 21,824 |
Amounts used during the year | (20,469) |
Unused amounts reversed during the year | (5,238) |
Translation adjustment | 2,469 |
Balance at end of the fiscal year | ¥ 24,753 |
Stockholders' equity - Summary
Stockholders' equity - Summary of Dividends (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure Of Dividends [Line Items] | ||
Type of shares | Common stock | Common stock |
Total amount of dividends | ¥ 54,965 | ¥ 49,380 |
Source of dividends | Retained earnings | Retained earnings |
Dividends per share | ¥ 45 | ¥ 40 |
Record date | Mar. 31, 2024 | Mar. 31, 2023 |
Effective date | Jun. 10, 2024 | Jun. 05, 2023 |
Stockholders' equity - Summar_2
Stockholders' equity - Summary of Classes of Share Capital (Detail) - shares | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2022 | |
Disclosure of classes of share capital [line items] | ||
Balance at beginning of the fiscal year | 1,261,081,781 | 1,261,058,781 |
Issuance of new shares | 150,108 | 23,000 |
Balance at end of the fiscal year | 1,261,231,889 | 1,261,081,781 |
Stockholders' equity - Summar_3
Stockholders' equity - Summary of Changes in Accumulated Other Comprehensive Income by Item Explanatory (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | ¥ (614,570) | ||
Ending Balance | (376,063) | ¥ (614,570) | |
Changes in equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (9,152) | 27,412 | ¥ 139,622 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | (53,814) | (36,862) | (106,426) |
Transfer to retained earnings | (12,326) | 298 | (5,784) |
Ending Balance | (75,292) | (9,152) | 27,412 |
Changes in equity instruments measured at fair value through other comprehensive income [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 27,412 | ||
Ending Balance | 27,412 | ||
Changes in equity instruments measured at fair value through other comprehensive income [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 27,412 | ||
Ending Balance | 27,412 | ||
Changes in debt instruments measured at fair value through other comprehensive income [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 39,845 | 847,833 | 1,264,737 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | (704,636) | (819,192) | (416,904) |
Ending Balance | (664,791) | 39,845 | 847,833 |
Changes in debt instruments measured at fair value through other comprehensive income [member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 11,204 | ||
Ending Balance | 11,204 | ||
Changes in debt instruments measured at fair value through other comprehensive income [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 847,833 | ||
Ending Balance | 847,833 | ||
Changes in debt instruments measured at fair value through other comprehensive income [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 859,037 | ||
Ending Balance | 859,037 | ||
Cash flow hedges [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 18,413 | 6,034 | 1,299 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | 1,352 | 12,379 | 4,735 |
Ending Balance | 19,765 | 18,413 | 6,034 |
Cash flow hedges [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 6,034 | ||
Ending Balance | 6,034 | ||
Cash flow hedges [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 6,034 | ||
Ending Balance | 6,034 | ||
Remeasurement of defined benefit pension plans [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other comprehensive income attributable to Sony Group Corporation's stockholders | 25,875 | 18,891 | 33,641 |
Transfer to retained earnings | (25,875) | (18,891) | (33,641) |
Exchange differences on translating foreign operations [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 513,203 | 337,678 | 113,901 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | 439,490 | 175,525 | 223,777 |
Ending Balance | 952,693 | 513,203 | 337,678 |
Exchange differences on translating foreign operations [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 337,678 | ||
Ending Balance | 337,678 | ||
Exchange differences on translating foreign operations [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 337,678 | ||
Ending Balance | 337,678 | ||
Insurance finance income (expenses) [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (1,183,634) | 511 | (88) |
Other comprehensive income attributable to Sony Group Corporation's stockholders | 563,396 | 727,716 | 599 |
Ending Balance | (620,238) | (1,183,634) | 511 |
Insurance finance income (expenses) [member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (1,911,861) | ||
Ending Balance | (1,911,861) | ||
Insurance finance income (expenses) [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 511 | ||
Ending Balance | 511 | ||
Insurance finance income (expenses) [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (1,911,350) | ||
Ending Balance | (1,911,350) | ||
Share of other comprehensive income of investments accounted for using the equity method [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 6,563 | 2,864 | 786 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | 5,348 | 3,699 | 2,078 |
Transfer to retained earnings | (20) | ||
Ending Balance | 11,891 | 6,563 | 2,864 |
Share of other comprehensive income of investments accounted for using the equity method [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 2,864 | ||
Ending Balance | 2,864 | ||
Share of other comprehensive income of investments accounted for using the equity method [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 2,864 | ||
Ending Balance | 2,864 | ||
Other [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 192 | ||
Other comprehensive income attributable to Sony Group Corporation's stockholders | (283) | (144) | |
Ending Balance | (91) | 192 | |
Other [member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 336 | ||
Ending Balance | 336 | ||
Other [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 336 | ||
Ending Balance | 336 | ||
Accumulated other comprehensive income [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (614,570) | 1,222,332 | 1,520,257 |
Other comprehensive income attributable to Sony Group Corporation's stockholders | 276,728 | 82,012 | (258,500) |
Transfer to retained earnings | (38,221) | (18,593) | (39,425) |
Ending Balance | ¥ (376,063) | (614,570) | 1,222,332 |
Accumulated other comprehensive income [member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | (1,900,321) | ||
Ending Balance | (1,900,321) | ||
Accumulated other comprehensive income [member] | Previously stated [member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | 1,222,332 | ||
Ending Balance | 1,222,332 | ||
Accumulated other comprehensive income [member] | Restated [Member] | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning Balance | ¥ (677,989) | ||
Ending Balance | ¥ (677,989) |
Stockholders' equity - Addition
Stockholders' equity - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statements [Line Items] | |||
Number of shares of common stock authorized | 3,600,000,000 | 3,600,000,000 | 3,600,000,000 |
Number of shares of treasury stock | 39,783,003 | 26,584,221 | 24,078,136 |
Percentage of cash dividends from retained earnings appropriated as a capital reserve or a legal reserve | 10% | 10% | 10% |
Percentage of ordinary shares used to obtain aggregated amount of capital reserve and legal reserve | 25% | 25% | 25% |
Minimum threshold percentage of additional paid in capital or proceeds from issuance of shares incorporated in common stock specified by The Companies Act of Japan | 50% | 50% | 50% |
Tranche One [Member] | |||
Statements [Line Items] | |||
Number of shares repurchased | 806,300 | 7,400,600 | |
Stock repurchase amount | ¥ 9,100 | ¥ 88,281 | |
Tranche Two [Member] | |||
Statements [Line Items] | |||
Number of shares repurchased | 798,000 | 8,545,600 | |
Stock repurchase amount | ¥ 10,000 | ¥ 89,118 | |
Tranche Three [Member] | |||
Statements [Line Items] | |||
Number of shares repurchased | 14,869,300 | ||
Stock repurchase amount | ¥ 192,532 |
Stockholders' equity - Summar_4
Stockholders' equity - Summary of Analysis of Other Comprehensive Income by Item (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |||
Changes in equity instruments measured at fair value through other comprehensive income | |||||
Amount incurred during the year | ¥ (70,838) | ¥ (45,708) | ¥ (139,511) | ||
Total before tax | (70,838) | (45,708) | (139,511) | ||
Tax expense or (benefit) | 17,024 | 8,846 | 33,085 | ||
Net of tax | (53,814) | (36,862) | (106,426) | ||
Remeasurement of defined benefit pension plans | |||||
Amount incurred during the year | 37,225 | 27,136 | 43,134 | ||
Total before tax | 37,225 | 27,136 | 43,134 | ||
Tax expense or (benefit) | (11,350) | (8,245) | (9,493) | ||
Net of tax | 25,875 | 18,891 | 33,641 | ||
Share of other comprehensive income of investments accounted for using the equity method | |||||
Amount incurred during the year | 704 | 197 | 869 | ||
Total before tax | 704 | 197 | 869 | ||
Tax expense or (benefit) | (91) | (52) | (292) | ||
Net of tax | 613 | 145 | 577 | ||
Total | (27,326) | (17,826) | (72,208) | ||
Changes in debt instruments measured at fair value through other comprehensive income | |||||
Amount incurred during the year | (973,877) | (1,132,497) | (572,692) | ||
Reclassification to profit or loss | (4,713) | (5,300) | (6,408) | ||
Total before tax | (978,590) | (1,137,797) | (579,100) | ||
Tax expense or (benefit) | 273,954 | 318,605 | 162,196 | ||
Net of tax | (704,636) | (819,192) | (416,904) | ||
Cash flow hedges | |||||
Amount incurred during the year | (15,032) | (12,975) | (7,703) | ||
Reclassification to profit or loss | 16,982 | 30,813 | 14,529 | ||
Total before tax | 1,950 | 17,838 | 6,826 | ||
Tax expense or (benefit) | (598) | (5,459) | (2,091) | ||
Net of tax | 1,352 | 12,379 | 4,735 | ||
Insurance finance income (expenses) | |||||
Amount incurred during the year | 782,495 | [1] | 1,010,717 | [1] | 807 |
Reclassification to profit or loss | (10) | ||||
Total before tax | 782,495 | 1,010,717 | 797 | ||
Tax expense or (benefit) | (219,099) | (283,001) | (198) | ||
Net of tax | 563,396 | 727,716 | 599 | ||
Exchange differences on translating foreign operations | |||||
Amount incurred during the year | 441,943 | 177,645 | 227,017 | ||
Reclassification to profit or loss | 463 | 630 | (742) | ||
Total before tax | 442,406 | 178,275 | 226,275 | ||
Net of tax | 442,406 | 178,275 | 226,275 | ||
Share of other comprehensive income of investments accounted for using the equity method | |||||
Amount incurred during the year | 4,735 | 3,554 | 1,501 | ||
Total before tax | 4,735 | 3,554 | 1,501 | ||
Net of tax | 4,735 | 3,554 | 1,501 | ||
Other | |||||
Amount incurred during the year | (393) | (200) | |||
Total before tax | (393) | (200) | |||
Tax expense or (benefit) | 110 | 56 | |||
Net of tax | (283) | (144) | |||
Total | 306,970 | 102,588 | (183,794) | ||
Total other comprehensive income, net of tax | ¥ 279,644 | ¥ 84,762 | ¥ (256,002) | ||
[1]Expenses are presented as positive and income is presented as negative. |
Stock-based compensation plan_2
Stock-based compensation plans - Additional Information (Detail) - JPY (¥) | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statements [Line Items] | |||
Weighted average fair value per share | ¥ 3,665 | ¥ 3,123 | ¥ 2,994 |
Expense from share-based payment transactions with employees | ¥ 21,657,000,000 | ¥ 15,781,000,000 | ¥ 11,105,000,000 |
Description of vesting requirements for share-based payment arrangement | The stock acquisition rights granted under the stock option plan primarily have a three-year vesting schedule | The stock acquisition rights granted under the stock option plan primarily have a three-year vesting schedule | The stock acquisition rights granted under the stock option plan primarily have a three-year vesting schedule |
Description of maximum term of options granted for share-based payment arrangement | exercisable up to 10 years from the date of grant. | exercisable up to 10 years from the date of grant. | exercisable up to 10 years from the date of grant. |
Weighted-average stock price at the time when the stock acquisition rights were exercised during the fiscal years | ¥ 13,146 | ¥ 11,404 | ¥ 12,627 |
Stock-based compensation plan_3
Stock-based compensation plans - Summary of the Black Scholes Option Pricing Model (Detail) | 12 Months Ended | |||
Mar. 31, 2024 yr ¥ / shares | Mar. 31, 2023 yr ¥ / shares | Mar. 31, 2022 yr ¥ / shares | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share price at the grant date | ¥ / shares | ¥ 12,898 | ¥ 11,389 | ¥ 14,361 | |
Risk-free interest rate | 2.23% | 1.88% | 0.60% | |
Expected lives | yr | 5.61 | 5.46 | 5.33 | |
Expected volatility | [1] | 27.25% | 26.55% | 22.47% |
Expected dividends | 0.49% | 0.47% | 0.29% | |
[1]Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. |
Stock-based compensation plan_4
Stock-based compensation plans - Summary of the Stock Option Plan (Detail) | 12 Months Ended | ||
Mar. 31, 2024 shares ¥ / shares | Mar. 31, 2023 shares ¥ / shares | Mar. 31, 2022 shares ¥ / shares | |
Disclosure of number and weighted average exercise prices of share options [Abstract] | |||
Beginning | shares | 19,691,500 | 16,544,300 | 14,022,400 |
Number of shares, Granted | shares | 2,438,100 | 4,744,300 | 4,876,400 |
Number of shares, Exercised | shares | 2,121,700 | 1,260,800 | 1,944,900 |
Number of shares, Forfited or expired | shares | 446,000 | 336,300 | 409,600 |
Ending | shares | 19,561,900 | 19,691,500 | 16,544,300 |
Number of shares, Exercisable | shares | 11,881,900 | 9,683,000 | 7,044,700 |
Beginning | ¥ / shares | ¥ 10,312 | ¥ 9,397 | ¥ 6,653 |
Weighted average exercise price, Granted | ¥ / shares | 12,663 | 10,979 | 14,188 |
Weighted average exercise price, Exercised | ¥ / shares | 6,795 | 5,565 | 5,313 |
Weighted average exercise price, Forfieted or expired | ¥ / shares | 13,301 | 12,654 | 9,484 |
Ending | ¥ / shares | 11,652 | 10,312 | 9,397 |
Weighted average exercise price, Exercisable | ¥ / shares | ¥ 10,831 | ¥ 8,033 | ¥ 5,883 |
Stock-based compensation plan_5
Stock-based compensation plans - Summary of Unexercised Stock Acquisition Rights (Detail) | 12 Months Ended | ||||
Mar. 31, 2024 shares ¥ / shares | Mar. 31, 2023 shares | Mar. 31, 2022 shares | Mar. 31, 2024 shares $ / shares | Mar. 31, 2021 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Exercise term | exercisable up to 10 years from the date of grant. | exercisable up to 10 years from the date of grant. | exercisable up to 10 years from the date of grant. | ||
Number of share options outstanding in share-based payment arrangement | 19,561,900 | 19,691,500 | 16,544,300 | 19,561,900 | 14,022,400 |
Series 24th date of options Granted on December 4, 2012 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | December 4, 2012 | ||||
Exercise term | December 4, 2013 to December 3, 2022 | ||||
Exercise price | ¥ / shares | ¥ 932 | ||||
Number of share options outstanding in share-based payment arrangement | 14,700 | ||||
Series 25th date of options Granted on December 4, 2012 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | December 4, 2012 | ||||
Exercise term | December 4, 2013 to December 3, 2022 | ||||
Exercise price | $ / shares | $ 11.23 | ||||
Number of share options outstanding in share-based payment arrangement | 77,900 | ||||
Series 26th date of options Granted on November20, 2013 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2013 | ||||
Exercise term | November 20, 2014 to November 19, 2023 | ||||
Exercise price | ¥ / shares | ¥ 2,007 | ||||
Number of share options outstanding in share-based payment arrangement | 14,400 | 47,000 | |||
Series 27th date of options Granted on November20, 2013 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2013 | ||||
Exercise term | November 20, 2014 to November 19, 2023 | ||||
Exercise price | $ / shares | $ 20.01 | ||||
Number of share options outstanding in share-based payment arrangement | 110,700 | 127,300 | |||
Series 28th date of options Granted on November20, 2014 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2014 | ||||
Exercise term | November 20, 2015 to November 19, 2024 | ||||
Exercise price | ¥ / shares | ¥ 2,410.5 | ||||
Number of share options outstanding in share-based payment arrangement | 83,500 | 132,500 | 190,900 | 83,500 | |
Series 29th date of options Granted on November20, 2014 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2014 | ||||
Exercise term | November 20, 2015 to November 19, 2024 | ||||
Exercise price | $ / shares | $ 20.67 | ||||
Number of share options outstanding in share-based payment arrangement | 122,700 | 135,500 | 154,100 | 122,700 | |
Series 30th date of options Granted on November19, 2015 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 19, 2015 | ||||
Exercise term | November 19, 2016 to November 18, 2025 | ||||
Exercise price | ¥ / shares | ¥ 3,404 | ||||
Number of share options outstanding in share-based payment arrangement | 89,000 | 186,900 | 252,600 | 89,000 | |
Series 31st date of options Granted on November19, 2015 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 19, 2015 | ||||
Exercise term | November 19, 2016 to November 18, 2025 | ||||
Exercise price | $ / shares | $ 27.51 | ||||
Number of share options outstanding in share-based payment arrangement | 131,300 | 148,200 | 170,800 | 131,300 | |
Series 32nd date of options Granted on November22, 2016 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 22, 2016 | ||||
Exercise term | November 22, 2017 to November 21, 2026 | ||||
Exercise price | ¥ / shares | ¥ 3,364 | ||||
Number of share options outstanding in share-based payment arrangement | 231,400 | 390,400 | 516,300 | 231,400 | |
Series 33rd date of options Granted on November22, 2016 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 22, 2016 | ||||
Exercise term | November 22, 2017 to November 21, 2026 | ||||
Exercise price | $ / shares | $ 31.06 | ||||
Number of share options outstanding in share-based payment arrangement | 286,100 | 330,500 | 367,900 | 286,100 | |
Series 34th date of options Granted on November21, 2017 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 21, 2017 | ||||
Exercise term | November 21, 2018 to November 20, 2027 | ||||
Exercise price | ¥ / shares | ¥ 5,231 | ||||
Number of share options outstanding in share-based payment arrangement | 280,200 | 434,200 | 572,500 | 280,200 | |
Series 35th date of options Granted on November21, 2017 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 21, 2017 | ||||
Exercise term | November 21, 2018 to November 20, 2027 | ||||
Exercise price | $ / shares | $ 45.73 | ||||
Number of share options outstanding in share-based payment arrangement | 505,700 | 620,500 | 676,400 | 505,700 | |
Series 36th date of options Granted on February28, 2018 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | February 28, 2018 | ||||
Exercise term | February 28, 2019 to February 27, 2028 | ||||
Exercise price | ¥ / shares | ¥ 5,442 | ||||
Number of share options outstanding in share-based payment arrangement | 1,500 | 3,900 | 4,500 | 1,500 | |
Series 38th date of options Granted on November20, 2018 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2018 | ||||
Exercise term | November 20, 2019 to November 19, 2028 | ||||
Exercise price | ¥ / shares | ¥ 6,440 | ||||
Number of share options outstanding in share-based payment arrangement | 596,700 | 839,900 | 977,800 | 596,700 | |
Series 39th date of options Granted on November20, 2018 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2018 | ||||
Exercise term | November 20, 2019 to November 19, 2028 | ||||
Exercise price | $ / shares | $ 56.22 | ||||
Number of share options outstanding in share-based payment arrangement | 654,300 | 760,500 | 826,800 | 654,300 | |
Series 40th date of options Granted on November20, 2019 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2019 | ||||
Exercise term | November 20, 2020 to November 19, 2029 | ||||
Exercise price | ¥ / shares | ¥ 6,705 | ||||
Number of share options outstanding in share-based payment arrangement | 874,600 | 1,210,100 | 1,389,700 | 874,600 | |
Series 41st date of options Granted on November20, 2019 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 20, 2019 | ||||
Exercise term | November 20, 2020 to November 19, 2029 | ||||
Exercise price | $ / shares | $ 60.99 | ||||
Number of share options outstanding in share-based payment arrangement | 916,400 | 1,076,300 | 1,190,800 | 916,400 | |
Series 42nd date of options Granted on April17, 2020 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | April 17, 2020 | ||||
Exercise term | April 17, 2021 to April 16, 2030 | ||||
Exercise price | $ / shares | $ 63.75 | ||||
Number of share options outstanding in share-based payment arrangement | 13,300 | 13,300 | |||
Series 43rd date of options Granted on November18, 2020 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 18, 2020 | ||||
Exercise term | November 18, 2021 to November 17, 2030 | ||||
Exercise price | ¥ / shares | ¥ 9,237 | ||||
Number of share options outstanding in share-based payment arrangement | 1,654,000 | 2,060,400 | 2,193,000 | 1,654,000 | |
Series 44th date of options Granted on November18, 2020 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 18, 2020 | ||||
Exercise term | November 18, 2021 to November 17, 2030 | ||||
Exercise price | $ / shares | $ 87.48 | ||||
Number of share options outstanding in share-based payment arrangement | 1,714,600 | 1,862,100 | 1,974,800 | 1,714,600 | |
Series 45th date of options Granted on November 18 2021 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 18, 2021 | ||||
Exercise term | November 18, 2022 to November 17, 2031 | ||||
Exercise price | ¥ / shares | ¥ 14,350 | ||||
Number of share options outstanding in share-based payment arrangement | 2,331,200 | 2,367,500 | 2,399,100 | 2,331,200 | |
Series 46th date of options Granted on November 18 2021 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 18, 2021 | ||||
Exercise term | November 18, 2022 to November 17, 2031 | ||||
Exercise price | $ / shares | $ 124.9 | ||||
Number of share options outstanding in share-based payment arrangement | 2,137,800 | 2,277,100 | 2,391,100 | 2,137,800 | |
Series 47th date of options Granted on November 16 2022 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 16, 2022 | ||||
Exercise term | November 16, 2023 to November 15, 2032 | ||||
Exercise price | ¥ / shares | ¥ 11,390 | ||||
Number of share options outstanding in share-based payment arrangement | 2,401,200 | 2,427,100 | 2,401,200 | ||
Series 48th date of options Granted on November 16 2022 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 16, 2022 | ||||
Exercise term | November 16, 2023 to November 15, 2032 | ||||
Exercise price | $ / shares | $ 77.89 | ||||
Number of share options outstanding in share-based payment arrangement | 2,124,000 | 2,289,500 | 2,124,000 | ||
Series 49th date of options Granted on November 27 2023 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 27, 2023 | ||||
Exercise term | November 27, 2024 to November 26, 2033 | ||||
Exercise price | ¥ / shares | ¥ 12,942 | ||||
Number of share options outstanding in share-based payment arrangement | 1,294,200 | 1,294,200 | |||
Series 50th date of options Granted on November 27 2023 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Date of grant | November 27, 2023 | ||||
Exercise term | November 27, 2024 to November 26, 2033 | ||||
Exercise price | $ / shares | $ 85.5 | ||||
Number of share options outstanding in share-based payment arrangement | 1,131,500 | 1,131,500 |
Revenue - Summary of Contract A
Revenue - Summary of Contract Assets and Contract liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | |
Receivables from contracts with customers [abstract] | ||||
Receivables from contracts with customers | [1] | ¥ 1,931,631 | ¥ 1,679,106 | ¥ 1,382,377 |
Contract assets | [2] | 17,820 | 19,355 | 16,785 |
Contract liabilities | [3] | ¥ 534,432 | ¥ 508,454 | ¥ 366,227 |
[1]Receivables from contracts with customers are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other financial assets,” non-current.[2]Contract assets are included in the consolidated statements of financial position as “Trade and other receivables, and contract assets” and “Other non-current assets.”[3]Contract liabilities are included in the consolidated statements of financial position as “Other current liabilities” and “Other non-current liabilities.” |
Revenue - Summary of the Amount
Revenue - Summary of the Amount of Cumulative Revenue (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Motion Pictures and Television Productions [Member] | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Transaction price allocated to remaining performance obligations | [1] | ¥ 813,790 | ¥ 796,690 |
Media Networks [Member] | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Transaction price allocated to remaining performance obligations | 10,027 | 8,120 | |
Music [Member] | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Transaction price allocated to remaining performance obligations | [2] | 112,609 | 140,842 |
Others [Member] | |||
Disclosure of transaction price allocated to remaining performance obligations [line items] | |||
Transaction price allocated to remaining performance obligations | ¥ 58,717 | ¥ 68,708 | |
[1]For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration.[2]The 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. |
Revenue - Summary of Contract C
Revenue - Summary of Contract Costs (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Costs to obtain contracts with customers [member] | ||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | ||
Assets recognised from costs to obtain or fulfil contracts with customers | ¥ 6,882 | ¥ 6,110 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statements [Line Items] | |||
Revenue from contracts with customers | ¥ 444,964 | ¥ 303,779 | ¥ 231,274 |
Amortisation, assets recognised from costs incurred to obtain or fulfil contracts with customers | ¥ 4,562 | ¥ 4,686 | ¥ 6,917 |
Bottom of range [member] | |||
Statements [Line Items] | |||
Remaining performance obligation expected timing of satisfaction | 1 year | 1 year | |
Top of range [member] | |||
Statements [Line Items] | |||
Remaining performance obligation expected timing of satisfaction | 3 years | 3 years |
Supplemental consolidated sta_3
Supplemental consolidated statements of income information - Summary of other operating expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Statements [Line Items] | ||||
Gain on transfer of a portion of shares of Sony Payment Services | [1] | ¥ (19,763) | ||
(Gain) loss on purchase/sale of interests in subsidiaries and associates, net | (6,905) | ¥ (4,318) | ¥ (4,593) | |
(Gain) loss on sale, disposal or impairment of assets, net | [2] | (4,675) | (417) | 8,316 |
Other | 1,939 | (7,286) | 803 | |
Total | ¥ (29,404) | ¥ (12,021) | (65,494) | |
GSN Games Shares [member] | ||||
Statements [Line Items] | ||||
Gain on transfer of GSN Games shares | [3] | ¥ (70,020) | ||
[1]Refer to Note 8.[2]Refer to Notes 9 and 11.[3]Refer to Note 31. |
Supplemental consolidated sta_4
Supplemental consolidated statements of income information - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Material income and expense [abstract] | |||
Research and development expense | ¥ 742,772 | ¥ 735,698 | ¥ 618,368 |
Advertising expense | 422,655 | 391,131 | 347,709 |
Shipping and handling costs for finished goods | ¥ 85,108 | ¥ 95,208 | ¥ 70,858 |
Financial income and expense -
Financial income and expense - Summary of financial income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Disclosure of Detailed Information about Financial Income [Abstract] | ||||
Interest income, Financial assets measured at AC | ¥ 37,580 | ¥ 22,399 | ¥ 6,996 | |
Dividends, Financial assets measured at FVOCI | 1,138 | 3,488 | 2,792 | |
Gain on revaluation of equity instruments, Financial assets measured at FVPL | [1] | 71,385 | ||
Other | 15,494 | 5,171 | 9,516 | |
Total financial services revenue | ¥ 125,597 | ¥ 31,058 | ¥ 19,304 | |
[1]Shares of Spotify Technology S.A. (“Spotify”) held by Sony are classified as equity securities required to be measured at fair value through profit or loss. The revaluation of the Spotify shares, net of costs to be paid to Sony’s artists and distributed labels, owned as of March 31, 2022, 2023 and 2024 resulted in an unrealized loss of 45,017 million yen (395 million U.S. dollars), an unrealized loss of 7,787 million yen (58 million U.S. dollars), and an unrealized gain of 64,764 million yen (440 million U.S. dollars), respectively. |
Financial income and expense _2
Financial income and expense - Summary of financial expenses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Disclosure of Detailed Information about Financial Expense [Abstract] | ||||
Interest expense, Financial liabilities measured at AC | ¥ 28,163 | ¥ 16,016 | ¥ 6,377 | |
Interest expense, Other | 12,833 | 10,382 | 8,223 | |
Foreign exchange loss, net | [1] | 6,989 | 14,489 | 1,612 |
Loss on revaluation of equity instruments, Financial assets measured at FVPL | [2] | 4,623 | 66,177 | |
Other | 17,781 | 13,441 | 21,751 | |
Total | ¥ 65,766 | ¥ 58,951 | ¥ 104,140 | |
[1]Foreign exchange loss, net includes gains or losses from foreign exchange contracts.[2]Shares of Spotify Technology S.A. (“Spotify”) held by Sony are classified as equity securities required to be measured at fair value through profit or loss. The revaluation of the Spotify shares, net of costs to be paid to Sony’s artists and distributed labels, owned as of March 31, 2022, 2023 and 2024 resulted in an unrealized loss of 45,017 million yen (395 million U.S. dollars), an unrealized loss of 7,787 million yen (58 million U.S. dollars), and an unrealized gain of 64,764 million yen (440 million U.S. dollars), respectively. |
Financial income and expense _3
Financial income and expense - Summary of financial income and expenses (Parenthetical) (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2024 JPY (¥) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 JPY (¥) | Mar. 31, 2022 USD ($) | |
Spotify Technology S A [Member] | ||||||
Disclosure of offsetting of financial liabilities [line items] | ||||||
Pre-tax unrealized gain, net of costs resulted from revaluation of the Spotify shares owned | ¥ 64,764 | $ 440 | ¥ (7,787) | $ (58) | ¥ (45,017) | $ (395) |
Income taxes - Additional Infor
Income taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Apr. 01, 2022 | |
Statements [Line Items] | ||||
Unused tax credits for which no deferred tax asset recognised | ¥ 16,869 | ¥ 18,853 | ||
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | 1,122,164 | 560,888 | ||
Undistributed earnings | 6,002,407 | 5,092,442 | ¥ 4,170,417 | |
Deferred tax expense (income) recognised in profit or loss | 61,544 | |||
Remeasurement gain for the pre-owned equity interest | 116,939 | |||
Deferred tax assets | 499,550 | 393,107 | 300,924 | |
Deferred tax liabilities | 166,424 | 117,621 | ¥ 120,582 | |
Tax expense (income) | 288,168 | 262,723 | ¥ 229,097 | |
Country of domicile [member] | ||||
Statements [Line Items] | ||||
Tax expense (income) | 169,821 | 157,745 | 88,016 | |
Foreign countries [member] | ||||
Statements [Line Items] | ||||
Tax expense (income) | ¥ 118,347 | 104,978 | ¥ 141,081 | |
No Expiration Period [Member] | ||||
Statements [Line Items] | ||||
Unused tax credits for which no deferred tax asset recognised | 1,047 | |||
Unused tax credits [member] | ||||
Statements [Line Items] | ||||
Description of expiry date of deductible temporary differences, unused tax losses and unused tax credits | As of March 31, 2023 and 2024, the expected expiration period of the tax credit carryforwards for which no deferred tax asset is recognized was mostly within 5 years except for the amount with no expiration period. The amount of tax credit carryforwards with no expiration date as of March 31, 2023 was 1,047 million yen. | |||
Undistributed Earnings Of Foreign Subsidiaries And Corporate Joint Ventures [Member] | ||||
Statements [Line Items] | ||||
Undistributed earnings | ¥ 17,955 | 8,974 | ||
Unrealised foreign exchange gains (losses) [member] | ||||
Statements [Line Items] | ||||
Deferred tax assets | 275,810 | 181,037 | ||
Deferred tax liabilities | ¥ 1,228,503 | ¥ 694,240 |
Income taxes - Summary of Incom
Income taxes - Summary of Income (Loss) Before Income Taxes and the Provision for Current and Deferred Income Taxes Attributable (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure Of Profit Loss Before Tax And Major Components Of Tax Expense Income [Abstract] | |||
Income (loss) before income taxes: | ¥ 1,268,662 | ¥ 1,274,496 | ¥ 1,117,503 |
Income tax expenses | |||
Current | 271,045 | 304,881 | 238,602 |
Deferred | 17,123 | (42,158) | (9,505) |
Income tax expense, Total | ¥ 288,168 | ¥ 262,723 | ¥ 229,097 |
Income taxes - Summary a Reconc
Income taxes - Summary a Reconciliation of the Differences Between the Japanese Statutory Tax Rate and the Effective Tax Rate (Detail) | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Statutory tax rate | 3,150% | 3,150% | 3,150% |
Non-deductible expenses | 30% | 20% | 20% |
Income tax credits | (330.00%) | (300.00%) | (190.00%) |
Change in statutory tax rate | 10% | (10.00%) | (20.00%) |
Change in unrecognized deferred tax assets | (2.10%) | (1.00%) | (3.70%) |
Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and affiliates | 0.90% | 1.50% | 1% |
Lower tax rate applied to life and non-life insurance business in Japan | (40.00%) | (90.00%) | (40.00%) |
Foreign income tax differential | (490.00%) | (600.00%) | (550.00%) |
Recording or reversal of liabilities for uncertain tax positions | 0.10% | (0.30%) | 0.80% |
Controlled Foreign Company taxation in Japan | 0% | (200.00%) | (180.00%) |
Other | 50% | 70% | 50% |
Effective income tax rate | 2,270% | 2,060% | 2,050% |
Income taxes - Summary the Sche
Income taxes - Summary the Schedules of Deferred Tax Assets and Liabilities by Major Because of their Occurrence (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized in profit or loss | ¥ 61,544 | ||
Deferred Tax Assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 858,063 | ¥ 950,010 | |
Recognized in profit or loss | 174,452 | 594,770 | |
Recognized in other comprehensive income | 279,236 | (723,692) | |
Changes accompanying business combination | (3,901) | 11,174 | |
Recognized directly in equity | (1,618) | (2,866) | |
Other | [1] | 75,686 | 28,667 |
Deferred tax liability (asset) | 1,381,918 | 858,063 | |
Deferred Tax Assets [Member] | Unused tax losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 81,088 | 71,087 | |
Recognized in profit or loss | (11,765) | (5,756) | |
Changes accompanying business combination | 460 | 10,157 | |
Other | [1] | 7,758 | 5,600 |
Deferred tax liability (asset) | 77,541 | 81,088 | |
Deferred Tax Assets [Member] | Defined Benefit Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 67,135 | 72,562 | |
Recognized in profit or loss | 16,287 | 5,826 | |
Recognized in other comprehensive income | (11,350) | (8,245) | |
Changes accompanying business combination | (28) | ||
Recognized directly in equity | (613) | (1,881) | |
Other | [1] | 4,088 | (1,099) |
Deferred tax liability (asset) | 75,547 | 67,135 | |
Deferred Tax Assets [Member] | Amortization Including Content Assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 2,217 | 26,759 | |
Recognized in profit or loss | 14,293 | (1,675) | |
Changes accompanying business combination | (25,695) | ||
Other | [1] | 3,109 | 2,828 |
Deferred tax liability (asset) | 19,619 | 2,217 | |
Deferred Tax Assets [Member] | Lease liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 118,847 | 101,430 | |
Recognized in profit or loss | 17,154 | 12,818 | |
Changes accompanying business combination | 221 | ||
Other | [1] | (271) | 4,378 |
Deferred tax liability (asset) | 135,730 | 118,847 | |
Deferred Tax Assets [Member] | Warranty Reserves And Accrued Expenses [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 149,982 | 141,670 | |
Recognized in profit or loss | 7,918 | 4,070 | |
Changes accompanying business combination | 1,599 | ||
Other | [1] | 9,502 | 2,643 |
Deferred tax liability (asset) | 167,402 | 149,982 | |
Deferred Tax Assets [Member] | Insurance Contract Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 179,620 | ||
Recognized in profit or loss | 561,000 | ||
Recognized in other comprehensive income | (740,620) | ||
Deferred Tax Assets [Member] | Inventories [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 44,723 | 29,546 | |
Recognized in profit or loss | 2,892 | 15,479 | |
Other | [1] | 1,192 | (302) |
Deferred tax liability (asset) | 48,807 | 44,723 | |
Deferred Tax Assets [Member] | Depreciation [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 40,052 | 43,189 | |
Recognized in profit or loss | (663) | (3,566) | |
Other | [1] | 2,214 | 429 |
Deferred tax liability (asset) | 41,603 | 40,052 | |
Deferred Tax Assets [Member] | Tax Credit Carryforwards [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 36,224 | 38,884 | |
Recognized in profit or loss | 11,698 | (12,297) | |
Changes accompanying business combination | 2,991 | 5,792 | |
Other | [1] | 6,733 | 3,845 |
Deferred tax liability (asset) | 57,646 | 36,224 | |
Deferred Tax Assets [Member] | Allowance for credit losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 6,150 | 7,748 | |
Recognized in profit or loss | 3,525 | (1,857) | |
Other | [1] | 1,066 | 259 |
Deferred tax liability (asset) | 10,741 | 6,150 | |
Deferred Tax Assets [Member] | Impairment Of Investments [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 6,052 | 9,816 | |
Recognized in profit or loss | 2,279 | (3,709) | |
Other | [1] | (551) | (55) |
Deferred tax liability (asset) | 7,780 | 6,052 | |
Deferred Tax Assets [Member] | Deferred Revenue [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 53,440 | 31,185 | |
Recognized in profit or loss | (11,697) | 22,076 | |
Changes accompanying business combination | (2,299) | ||
Other | [1] | 6,711 | 2,478 |
Deferred tax liability (asset) | 48,454 | 53,440 | |
Deferred Tax Assets [Member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 224,572 | 196,514 | |
Recognized in profit or loss | 47,828 | 2,361 | |
Recognized in other comprehensive income | (598) | (2,408) | |
Changes accompanying business combination | (7,352) | 21,427 | |
Recognized directly in equity | (1,005) | (985) | |
Other | [1] | 25,836 | 7,663 |
Deferred tax liability (asset) | 289,281 | 224,572 | |
Deferred Tax Assets [Member] | Equity Securities Measured At FVPL [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Recognized in other comprehensive income | 17,230 | ||
Other | [1] | 2,010 | |
Deferred tax liability (asset) | 19,240 | ||
Deferred Tax Assets [Member] | Debt Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 27,581 | ||
Recognized in profit or loss | 74,703 | ||
Recognized in other comprehensive income | 273,954 | 27,581 | |
Other | [1] | 6,289 | |
Deferred tax liability (asset) | 382,527 | 27,581 | |
Deferred Tax Assets [Member] | Previously stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 708,817 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Unused tax losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 71,087 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Defined Benefit Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 72,565 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Amortization Including Content Assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 26,759 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Lease liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 96,100 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Warranty Reserves And Accrued Expenses [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 141,344 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Inventories [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 29,546 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Depreciation [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 43,189 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Tax Credit Carryforwards [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 38,884 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Allowance for credit losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 7,748 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Impairment Of Investments [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 9,816 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Deferred Revenue [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 31,185 | ||
Deferred Tax Assets [Member] | Previously stated [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 140,594 | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 241,193 | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | Defined Benefit Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (3) | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | Lease liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 5,330 | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | Warranty Reserves And Accrued Expenses [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 326 | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | Insurance Contract Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 179,620 | ||
Deferred Tax Assets [Member] | Cumulative effects of the application of new accounting standards [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 55,920 | ||
Deferred Tax Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (582,577) | (769,668) | |
Recognized in profit or loss | (191,575) | (552,612) | |
Recognized in other comprehensive income | (219,286) | 757,437 | |
Changes accompanying business combination | (5,295) | (3,328) | |
Recognized directly in equity | (20) | (159) | |
Other | [1] | (50,039) | (14,247) |
Deferred tax liability (asset) | (1,048,792) | (582,577) | |
Deferred Tax Liabilities [Member] | Insurance Contract Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (203,719) | ||
Recognized in profit or loss | (79,827) | (667,224) | |
Recognized in other comprehensive income | (219,099) | 457,619 | |
Other | [1] | 2,936 | 5,886 |
Deferred tax liability (asset) | (499,709) | (203,719) | |
Deferred Tax Liabilities [Member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (7,012) | (80,852) | |
Recognized in profit or loss | (65,932) | 84,297 | |
Recognized in other comprehensive income | 19 | (52) | |
Changes accompanying business combination | (5,295) | (3,120) | |
Recognized directly in equity | (20) | (159) | |
Other | [1] | (26,753) | (7,126) |
Deferred tax liability (asset) | (104,993) | (7,012) | |
Deferred Tax Liabilities [Member] | Right-of-use assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (96,069) | (64,896) | |
Recognized in profit or loss | (16,775) | (24,637) | |
Changes accompanying business combination | (208) | ||
Other | [1] | (396) | (6,328) |
Deferred tax liability (asset) | (113,240) | (96,069) | |
Deferred Tax Liabilities [Member] | Equity Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (4,377) | (15,969) | |
Recognized in profit or loss | 4,389 | 923 | |
Recognized in other comprehensive income | (206) | 8,846 | |
Other | [1] | 194 | 1,823 |
Deferred tax liability (asset) | (4,377) | ||
Deferred Tax Liabilities [Member] | Equity Securities Measured At FVPL [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (24,567) | (53,139) | |
Recognized in profit or loss | (24,753) | 31,952 | |
Other | [1] | (3,014) | (3,380) |
Deferred tax liability (asset) | (52,334) | (24,567) | |
Deferred Tax Liabilities [Member] | Debt Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (330,546) | ||
Recognized in profit or loss | 39,764 | ||
Recognized in other comprehensive income | 291,024 | ||
Other | [1] | (242) | |
Deferred Tax Liabilities [Member] | Intangible Assets Acquired Through Stock Exchange Offerings [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (23,949) | (23,949) | |
Deferred tax liability (asset) | (23,949) | (23,949) | |
Deferred Tax Liabilities [Member] | Intangible Assets Derived From EMI Music Publishing Acquisition [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (105,956) | (101,594) | |
Recognized in profit or loss | 3,466 | 2,277 | |
Other | [1] | (14,501) | (6,639) |
Deferred tax liability (asset) | (116,991) | (105,956) | |
Deferred Tax Liabilities [Member] | Undistributed Earnings Of Foreign Subsidiaries And Affiliates [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (69,590) | (56,031) | |
Recognized in profit or loss | (6,856) | (15,318) | |
Other | [1] | (8,505) | 1,759 |
Deferred tax liability (asset) | (84,951) | (69,590) | |
Deferred Tax Liabilities [Member] | Investment in M3, Inc. [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (47,338) | (42,692) | |
Recognized in profit or loss | (5,287) | (4,646) | |
Deferred tax liability (asset) | ¥ (52,625) | (47,338) | |
Deferred Tax Liabilities [Member] | Previously stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (1,106,720) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Insurance Contract Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (167,337) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (67,610) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Insurance Acquisition Costs [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (191,474) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Right-of-use assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (59,566) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Equity Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (15,969) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Equity Securities Measured At FVPL [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (53,139) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Debt Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (327,359) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Intangible Assets Acquired Through Stock Exchange Offerings [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (23,949) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Intangible Assets Derived From EMI Music Publishing Acquisition [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (101,594) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Undistributed Earnings Of Foreign Subsidiaries And Affiliates [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (56,031) | ||
Deferred Tax Liabilities [Member] | Previously stated [member] | Investment in M3, Inc. [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (42,692) | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 337,052 | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | Insurance Contract Liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 167,337 | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (13,242) | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | Insurance Acquisition Costs [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 191,474 | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | Right-of-use assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (5,330) | ||
Deferred Tax Liabilities [Member] | Cumulative effects of the application of new accounting standards [member] | Debt Securities Measured At FVOCI [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | ¥ (3,187) | ||
[1]Other mainly consists of exchange differences on translating foreign operations. |
Income taxes - Summary of the d
Income taxes - Summary of the deductible temporary differences, operating loss carryforwards and tax credit carryforwards (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deductible temporary differences | ¥ 134,602 | ¥ 126,406 |
Operating loss carryforwards | 1,424,553 | 1,384,658 |
Tax credit carryforwards | ¥ 16,869 | ¥ 18,853 |
Income taxes - Summary of the e
Income taxes - Summary of the expected expiration period of the operating loss carryforwards for which no deferred tax asset (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | ¥ 1,424,553 | ¥ 1,384,658 |
Within 5 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | 494,989 | 602,799 |
Over 5 years to 10 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | 274,044 | 250,587 |
Over 10 years to 15 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | 28,601 | 25,786 |
Over 15 years [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | 15,592 | 13,245 |
No expiration period [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused Tax Losses With No Expiration Period For Which No Deferred Tax Asset Recognised | ¥ 611,327 | ¥ 492,241 |
Reconciliation of the differe_3
Reconciliation of the differences between basic and diluted EPS - Summary of Potential Shares of Common Stock (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings per share [abstract] | |||
Net income attributable to Sony Group Corporation's stockholders | ¥ 970,573 | ¥ 1,005,277 | ¥ 882,178 |
Adjustment amount to net income attributable to Sony Group Corporation's stockholders for diluted EPS computation: | |||
Zero coupon convertible bonds | 51 | 163 | |
Net income attributable to Sony Group Corporation's stockholders for diluted EPS computation | ¥ 970,573 | ¥ 1,005,328 | ¥ 882,341 |
Weighted-average shares outstanding for basic EPS computation | 1,231,242 | 1,235,701 | 1,239,299 |
Stock options | 3,680 | 3,617 | 5,470 |
Restricted stock units | 409 | 29 | |
Zero coupon convertible bonds | 2,030 | 6,491 | |
Weighted-average shares for diluted EPS computation | 1,235,331 | 1,241,377 | 1,251,260 |
Basic EPS | ¥ 788.29 | ¥ 813.53 | ¥ 711.84 |
Diluted EPS | ¥ 785.68 | ¥ 809.85 | ¥ 705.16 |
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, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statements [Line Items] | |||
Anti dilutive securities excluded from the computation of diluted earnings per share | 6,895 | 11,223 | 4,790 |
Supplemental cash flow inform_3
Supplemental cash flow information - Summary of Interest and Dividends (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Interest Received [Abstract] | |||
— Financial services revenue | ¥ 244,292 | ¥ 224,137 | ¥ 208,170 |
— Financial income | 36,295 | 20,872 | 6,988 |
Dividends Received [Abstract] | |||
— Financial services revenue | 52,760 | 23,409 | 27,075 |
— Financial income | 1,138 | 3,488 | 2,800 |
Interest Paid [Abstract] | |||
— Financial services expenses | 74,857 | 27,352 | 6,607 |
— Financial expenses | ¥ 22,667 | ¥ 11,663 | ¥ 8,843 |
Supplemental cash flow inform_4
Supplemental cash flow information - Summary of Reconciliation of Liabilities Arising From Financing Activities (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Short-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Balance at beginning of year | ¥ 92,646 | ¥ 56,091 | ¥ 52,537 |
Net cash flows from financing activities | (18,370) | 32,391 | 408 |
Acquisitions through business combinations | 796 | ||
Non-cash items: | |||
Translation adjustment | 12,097 | 4,533 | 1,659 |
Other | 1,133 | (369) | 1,487 |
Total changes | (4,344) | 36,555 | 3,554 |
Balance at ending of year | 88,302 | 92,646 | 56,091 |
Long-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Balance at beginning of year | 1,322,327 | 951,233 | 969,044 |
Net cash flows from financing activities | 97,026 | 229,578 | (163,104) |
Acquisitions through business combinations | 853 | 32,009 | 8,346 |
Non-cash items: | |||
Conversion of convertible bonds | (26,563) | (14,597) | |
Obtaining assets by entering into lease contracts | 101,039 | 127,322 | 121,937 |
Translation adjustment | 76,168 | 22,684 | 35,652 |
Other | (11,400) | (13,936) | (6,045) |
Total changes | 263,686 | 371,094 | (17,811) |
Balance at ending of year | ¥ 1,586,013 | ¥ 1,322,327 | ¥ 951,233 |
Supplemental cash flow inform_5
Supplemental cash flow information - Summary of Components of Cash and Cash Equivalents (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Apr. 01, 2022 | Mar. 31, 2022 | Mar. 31, 2021 |
Supplementary Cash Flow Information [Abstract] | |||||
Cash and demand deposits | ¥ 1,535,476 | ¥ 1,227,541 | ¥ 1,824,912 | ||
Time deposits with original maturities of three months or less | 63,169 | 76,452 | 72,270 | ||
Money market funds | 219,559 | 116,607 | 71,554 | ||
Call loans | 88,909 | 60,300 | 80,900 | ||
Total | ¥ 1,907,113 | ¥ 1,480,900 | ¥ 2,049,636 | ¥ 2,049,636 | ¥ 1,786,982 |
Supplemental cash flow inform_6
Supplemental cash flow information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Apr. 01, 2022 | |
Supplementary Cash Flow Information [Line Items] | ||||
Payments for purchases of businesses and other | ¥ 199,255 | ¥ 283,402 | ¥ 277,618 | |
Noncontrolling interests | 168,928 | ¥ 58,613 | ¥ 52,778 | |
Music [Member] | ||||
Supplementary Cash Flow Information [Line Items] | ||||
Payments for purchases of businesses and other | 90,968 | |||
Noncontrolling interests | 90,968 | |||
Content assets [member] | Music [Member] | ||||
Supplementary Cash Flow Information [Line Items] | ||||
Content assets | ¥ 182,689 |
Structured entities - Additiona
Structured entities - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure Of Structured Entities [Line Items] | ||
Assets in structured entities | ¥ 22,506,844 | ¥ 21,266,159 |
Fair value of assets transferred to structured entities at the end of current year | 167,071 | 170,695 |
Fair value of associated financial liabilities | 166,321 | 169,931 |
Consolidated structured entities [member] | ||
Disclosure Of Structured Entities [Line Items] | ||
Assets in structured entities | 3,653,520 | 2,486,836 |
Securitization Transaction For Some Housing Loans [Member] | Long-term borrowings [member] | ||
Disclosure Of Structured Entities [Line Items] | ||
Liabilities occurred from the securitization transactions | 166,024 | 169,500 |
Securitization Transaction For Some Housing Loans [Member] | SONY Investments And Advances In The Financial Services Segment [Member] | ||
Disclosure Of Structured Entities [Line Items] | ||
Assets that entity continues to recognise | ¥ 164,799 | ¥ 168,173 |
Structured entities - Summary o
Structured entities - Summary of Unconsolidated Structured Entities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of unconsolidated structured entities [line items] | |||
Maximum exposure to loss | ¥ 1,182,927 | ¥ 941,402 | |
Investments And Advances In The Financial Services Segment Current [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | 11,365 | 20,806 | |
Investments And Advances In The Financial Services Segment Noncurrent [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | 1,124,584 | 874,586 | |
Other Current Financial Assets [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | 24,836 | 25,464 | |
Securitized Products [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Maximum exposure to loss | 461,309 | 401,642 | |
Securitized Products [Member] | Investments And Advances In The Financial Services Segment Noncurrent [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | 461,309 | 401,642 | |
Foreign Corporate Bonds [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Maximum exposure to loss | [1] | 217,935 | 207,684 |
Foreign Corporate Bonds [Member] | Investments And Advances In The Financial Services Segment Current [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | [1] | 11,365 | 20,806 |
Foreign Corporate Bonds [Member] | Investments And Advances In The Financial Services Segment Noncurrent [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | [1] | 206,570 | 186,878 |
Investment funds [member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Maximum exposure to loss | [2] | 503,683 | 332,076 |
Investment funds [member] | Investments And Advances In The Financial Services Segment Noncurrent [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | [2] | 456,705 | 286,066 |
Investment funds [member] | Other Current Financial Assets [Member] | |||
Disclosure of unconsolidated structured entities [line items] | |||
Assets recognised in entity's financial statements in relation to structured entities | [2] | ¥ 24,836 | ¥ 25,464 |
[1]Foreign corporate bonds primarily include repackaged bonds.[2]Other investments primarily include investment funds. |
Subsidiaries - Summary of Major
Subsidiaries - Summary of Major Consolidated Subsidiaries (Detail) | 12 Months Ended |
Mar. 31, 2024 | |
Sony Interactive Entertainment Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Interactive Entertainment Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Music Entertainment (Japan) Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Music Entertainment (Japan) Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Corporation |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Global Manufacturing & Operations Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Global Manufacturing & Operations Corporation |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Network Communications Inc. [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Network Communications Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Marketing Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Marketing Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Semiconductor Solutions Corporation [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Semiconductor Solutions Corporation |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Semiconductor Manufacturing Corporation [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Semiconductor Manufacturing Corporation |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Storage Media Solutions Corporation [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Storage Media Solutions Corporation |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Financial Group Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Financial Group Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Life Insurance Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Life Insurance Co., Ltd. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Bank Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Bank Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Assurance Inc. [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Assurance Inc. |
Country of incorporation/residence | Japan |
Percentage owned | 100% |
Sony Corporation of America [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Corporation of America |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Interactive Entertainment LLC [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Interactive Entertainment LLC |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Music Entertainment [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Music Entertainment |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Music Publishing LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Music Publishing LLC |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Pictures Entertainment Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Pictures Entertainment Inc. |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Electronics Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Electronics Inc. |
Country of incorporation/residence | U.S.A. |
Percentage owned | 100% |
Sony Interactive Entertainment Europe Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Interactive Entertainment Europe Ltd. |
Country of incorporation/residence | U.K. |
Percentage owned | 100% |
Sony Europe B.V. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Europe B.V. |
Country of incorporation/residence | U.K. |
Percentage owned | 100% |
Sony Global Treasury Services Plc [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Global Treasury Services Plc |
Country of incorporation/residence | U.K. |
Percentage owned | 100% |
Sony Overseas Holding B.V. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Overseas Holding B.V. |
Country of incorporation/residence | Netherlands |
Percentage owned | 100% |
Sony (China) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony (China) Limited |
Country of incorporation/residence | China |
Percentage owned | 100% |
Sony EMCS (Malaysia) Sdn. Bhd. [Member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony EMCS (Malaysia) Sdn. Bhd. |
Country of incorporation/residence | Malaysia |
Percentage owned | 100% |
Sony Electronics (Singapore) Pte. Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Name of company | Sony Electronics (Singapore) Pte. Ltd. |
Country of incorporation/residence | Singapore |
Percentage owned | 100% |
Acquisitions - Summary Of Purch
Acquisitions - Summary Of Purchase Price Allocation (Detail) - JPY (¥) ¥ in Millions | Jul. 15, 2022 | Aug. 09, 2021 |
Ellation Holdings, Inc [Member] | ||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | ||
Cash and cash equivalents | ¥ 8,379 | |
Trade and other receivables, and contract assets | 3,714 | |
Inventories | 3,295 | |
Right-of-use assets | 4,962 | |
Goodwill | 81,250 | |
Content assets | 36,266 | |
Other intangible assets | 35,697 | |
Other | 2,512 | |
Total assets | 176,075 | |
Trade and other payables | 17,365 | |
Other current liabilities | 7,723 | |
Long-term debt | 4,386 | |
Deferred tax liabilities | 9,408 | |
Other | 659 | |
Total liabilities | ¥ 39,541 | |
Bungie, Inc. [Member] | ||
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract] | ||
Cash and cash equivalents | ¥ 37,800 | |
Trade and other receivables, and contract assets | 5,093 | |
Other current assets | 3,412 | |
Property, plant and equipment | 7,481 | |
Right-of-use assets | 15,540 | |
Goodwill | 193,801 | |
Content assets | 45,512 | |
Other intangible assets | 66,257 | |
Deferred tax assets | 7,297 | |
Other | 3,564 | |
Total assets | 385,757 | |
Trade and other payables | 3,060 | |
Other current liabilities | 12,195 | |
Long-term debt | 30,944 | |
Other | 5,699 | |
Total liabilities | ¥ 51,898 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||||
Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2024 JPY (¥) | Jul. 15, 2022 JPY (¥) | Jul. 15, 2022 USD ($) | Mar. 31, 2022 JPY (¥) | Aug. 09, 2021 JPY (¥) | Aug. 09, 2021 USD ($) | |
Other Acquisitions [member] | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Consideration transferred, acquisition-date fair value | ¥ 92,743 | ¥ 111,669 | ¥ 175,878 | |||||
Contingent consideration recognised | 0 | 0 | 0 | |||||
Goodwill recognised | 80,698 | 70,791 | 116,394 | |||||
Identifiable intangible assets recognised | 29,154 | ¥ 69,294 | ¥ 64,348 | |||||
Ellation Holdings, Inc [Member] | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Consideration transferred, acquisition-date fair value | ¥ 135,938 | $ 1,237 | ||||||
Goodwill recognised | ¥ 81,250 | |||||||
Percentage of voting equity interests acquired | 100% | 100% | ||||||
Bungie, Inc. [Member] | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Consideration transferred, acquisition-date fair value | ¥ 333,859 | $ 2,421 | ||||||
Contingent consideration recognised | 41,938 | $ 304 | ||||||
Goodwill recognised | ¥ 193,801 | |||||||
Percentage of voting equity interests acquired | 100% | 100% | ||||||
Consideration, acquisition-date undiscounted value | ¥ 347,768 | $ 2,522 | ||||||
Upfront cash consideration | 207,511 | 1,505 | ||||||
Deferred consideration payable | 84,410 | 612 | ||||||
Profit (loss) of acquiree since acquisition date | ¥ 47,420 | $ 338 | ||||||
Deferred payments of committed employee incentives | 162,691 | 1,179 | ||||||
Total consideration of business combination, inclusive of purchase price and committed employee incentives | ¥ 510,459 | $ 3,701 |
Divestiture - Additional Inform
Divestiture - Additional Information (Detail) - Dec. 06, 2021 - Game Show Network, LLC [Member] ¥ in Millions, $ in Millions | JPY (¥) | USD ($) | USD ($) |
Disclosure of Divestiture [Line Items] | |||
Consideration received, transfer-date fair value | ¥ 115,054 | $ 1,011 | |
Proceeds from sales of business affiliate | 58,131 | 511 | |
Gains (losses) recognized when control of subsidiary is lost | 70,020 | $ 615 | |
Preferred stock [Member] | |||
Disclosure of Divestiture [Line Items] | |||
Preferred stock received from sales of business affiliate | ¥ 56,923 | $ 500 |
Related party transactions - Su
Related party transactions - Summary of Account Balances and Transactions with Associates and Joint Ventures Accounted for Under the Equity Method (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of transactions between related parties [line items] | |||
Trade and other accounts receivables | ¥ 23,270 | ¥ 14,105 | |
Other current assets | 8,195 | 7,747 | |
Accounts payable, trade | 1,262 | 1,653 | |
Short-term borrowings | 29,454 | 28,342 | |
Lease liabilities and other | 78,102 | 74,955 | |
Accounts payable for property, plant and equipment | 16 | 12,050 | |
Sales | 48,414 | 45,260 | ¥ 47,759 |
Purchases | 7,108 | 5,099 | 4,056 |
Lease payments and other | 15,467 | 13,720 | 11,180 |
Payments for property, plant and equipment | 16 | 20,553 | 12,052 |
Associates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Trade and other accounts receivables | 19,357 | 7,779 | |
Other current assets | 8,195 | 7,747 | |
Accounts payable, trade | 997 | 1,425 | |
Short-term borrowings | 3,070 | 3,124 | |
Lease liabilities and other | 78,102 | 74,955 | |
Accounts payable for property, plant and equipment | 16 | 12,050 | |
Sales | 14,215 | 15,040 | 20,385 |
Purchases | 6,385 | 4,450 | 3,271 |
Lease payments and other | 15,467 | 13,720 | 11,180 |
Payments for property, plant and equipment | 16 | 20,553 | 12,052 |
Joint ventures [member] | |||
Disclosure of transactions between related parties [line items] | |||
Trade and other accounts receivables | 3,913 | 6,326 | |
Accounts payable, trade | 265 | 228 | |
Short-term borrowings | 26,384 | 25,218 | |
Sales | 34,199 | 30,220 | 27,374 |
Purchases | ¥ 723 | ¥ 649 | ¥ 785 |
Related party transactions - Ad
Related party transactions - Additional information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of transactions between related parties [abstract] | ||
Investment commitments amount, related party transactions | ¥ 5,905 | ¥ 39,047 |
Related party transactions - _2
Related party transactions - Summary of Compensation for Key Management Personnel (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure Of Key Management Personnel Compensation [Abstract] | |||
Short-term employee benefits | ¥ 1,660 | ¥ 1,831 | ¥ 1,480 |
Stock-based compensation | 2,917 | 1,928 | 1,597 |
Total | ¥ 4,577 | ¥ 3,759 | ¥ 3,077 |
Purchase commitments, conting_2
Purchase commitments, contingent liabilities and other - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statements [Line Items] | ||
Loan commitments | ¥ 50,965 | ¥ 35,831 |
Contractual commitments for acquisition of property, plant and equipment and intangible assets | 160,919 | 292,975 |
Contractual commitments for purchase of material | 211,930 | 288,260 |
Contingent liability for guarantees [member] | ||
Statements [Line Items] | ||
Estimated contingent liability | ¥ 410 | 458 |
Pictures [Member] | ||
Statements [Line Items] | ||
Contractual commitments, Term | 3 years | |
Contractual obligation to make payments | ¥ 188,592 | 137,291 |
Music [Member] | ||
Statements [Line Items] | ||
Contractual commitments, Term | 5 years | |
Contractual obligation to make payments | ¥ 272,297 | 203,167 |
Game And Network Services [Member] | ||
Statements [Line Items] | ||
Contractual commitments, Term | 5 years | |
Contractual obligation to make payments | ¥ 33,436 | ¥ 38,116 |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) - JPY (¥) ¥ in Billions | Oct. 01, 2024 | May 14, 2024 | Apr. 10, 2024 |
Shares Repurchased [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares for repurchase | 30,000,000 | ||
Total purchase price for repurchase | ¥ 250 | ||
Period of repurchase start date | May 15, 2024 | ||
Period of repurchase end date | May 14, 2025 | ||
Repurchase of shares | 150,000,000 | ||
Share Cancellation [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares cancelled | 12,612,300 | ||
Stock cancellation date | Apr. 10, 2024 | ||
Implementation of stock split of common stock [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Total number of authorized shares following stock split | 18,000,000,000 | ||
Implementation of stock split of common stock [member] | Bottom of range [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Total number of authorized shares following stock split | 3,600,000,000 | ||
Implementation of stock split of common stock [member] | Top of range [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Total number of authorized shares following stock split | 18,000,000,000 |
Subsequent events - Summary of
Subsequent events - Summary of Number of Shares to be Increased by Stock Split (Detail) - Implementation of stock split of common stock [member] | May 14, 2024 shares |
Disclosure of non-adjusting events after reporting period [line items] | |
Total number of issued shares before stock split | 1,248,619,589 |
Number of shares to be increased by stock split | 4,994,478,356 |
Total number of issued shares following stock split | 6,243,097,945 |
Total number of authorized shares following stock split | 18,000,000,000 |
Subsequent events - Schedule of
Subsequent events - Schedule of Stock Split (Detail) - Implementation of stock split of common stock [member] | May 14, 2024 |
Disclosure of non-adjusting events after reporting period [line items] | |
Public notice of record date | Sep. 13, 2024 |
Record date | Sep. 30, 2024 |
Effective date | Oct. 01, 2024 |
Subsequent events - Summary o_2
Subsequent events - Summary of Impact on Per Share Information (Detail) - ¥ / shares | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of non-adjusting events after reporting period [line items] | |||
Basic net income attributable to Sony Group Corporation's stockholders per share | ¥ 788.29 | ¥ 813.53 | ¥ 711.84 |
Diluted net income attributable to Sony Group Corporation's stockholders per share | 785.68 | 809.85 | 705.16 |
Implementation of stock split of common stock [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Basic net income attributable to Sony Group Corporation's stockholders per share | 157.66 | 162.71 | 142.37 |
Diluted net income attributable to Sony Group Corporation's stockholders per share | ¥ 157.14 | ¥ 161.97 | ¥ 141.03 |