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    Kota Ezawa

    Director and Senior Analyst at Citigroup Inc.

    Kota Ezawa is a Director and Senior Analyst at Citigroup Global Markets Japan Inc., specializing in equity research with a focus on Japan’s leading internet and consumer goods companies. He regularly covers major firms including Sony, Fujitsu, and Panasonic, and stands out for his exceptional performance with an 84.62% success rate on recommendations and an average return of 32.2%, consistently ranking as a top analyst on platforms such as TipRanks. Ezawa was appointed as Citigroup’s first dedicated internet sector analyst in March 2025, having joined the firm after previous roles in Japan’s financial sector and establishing himself as a key figure in market strategy briefings with institutional investors. He holds pertinent professional credentials and securities licenses in Japan, including registration with the Japan Securities Dealers Association, and is frequently engaged in conferences and investor dialogues with C-level executives.

    Kota Ezawa's questions to Sony Group (SONY) leadership

    Kota Ezawa's questions to Sony Group (SONY) leadership • Q3 2025

    Question

    Kota Ezawa from Citigroup Inc. noted that Sony's 23% profit growth in the first nine months significantly outpaced the mid-range plan's 10% target. He asked if this was incidental or if the initial forecast was conservative, and whether the mid-range plan should be updated sooner.

    Answer

    Executive Hiroki Totoki responded that it is premature to update the three-year mid-range plan after only the first year. He acknowledged the strong performance but pointed to external uncertainties and natural fluctuations. He affirmed the goal is to achieve the three-year target by leveraging tailwinds and managing risks to ensure stable growth.

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