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    Nakane san • Mizuho Securities

    Nakane san's questions to Sony Group Corp (SONY) leadership

    Nakane san's questions to Sony Group Corp (SONY) leadership • Q1 2025

    Question

    Nakane san from Mizuho Securities inquired about the progress of improving the asset over-hedge in the Financial Services segment and asked about the game 'Marathon,' including its impact on forecasts, launch timing, Bungie's governance, and potential impairment risk.

    Answer

    Toshihide Endo, President and CEO of Sony Financial Group, explained that the company accelerated bond sales in Q1, which improved the ESR by three percentage points and helped maintain stability despite rising interest rates. Lin Tao, Corporate Executive Officer and CFO, added that 'Marathon' is expected to launch within the fiscal year with a small sales impact, Bungie is becoming more integrated into PlayStation Studios, and an impairment is not currently expected.

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    Nakane san's questions to Sony Group Corp (SONY) leadership • Q1 2025

    Question

    Nakane san from Mizuho Securities asked about the Q1 progress of improving the asset over-hedge in the Financial Services segment and questioned the Gaming segment on the profit impact of the Marathon game delay, Bungie's governance structure, and potential impairment risks.

    Answer

    Toshihide Endo, President and CEO of Sony Financial Group, explained that accelerated bond sales in Q1 improved the ESR, keeping it within the target range despite interest rate pressures. CFO Lin Tao stated that Marathon is expected to launch within the fiscal year, with an update in the autumn. She also clarified that Bungie is becoming more integrated with PlayStation Studios and an impairment charge is not currently anticipated.

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