Yoshihiko Nakane

Yoshihiko Nakane inquired about the rationale behind expanding the share buyback facility before fully utilizing the previous one, seeking insights into board discussions and the message Sony intends to convey. He also asked about the handling of sales for the home entertainment separation and potential ET&S structural reform adjustments for the next fiscal year.

Answer

Corporate Executive Officer and CFO Lin Tao explained that the share buyback expansion reflects better-than-anticipated business results and cash flow, aiming to increase shareholder returns and convey confidence in Sony's earnings momentum and fundamentals. She clarified that ET&S will continue to operate with its budget next fiscal year, with the joint venture starting in fiscal 2027, and portfolio optimization remains an ongoing management mission.

Yoshihiko Nakane asked about the expansion of Sony's share buyback facility, the discussions held in the board meeting, and the message conveyed by this expansion. He also inquired about the handling of sales for the home entertainment separation (JV with TCL) for the next fiscal year and the possibility of adjustments to ET&S structural reform.

Answer

Lin Tao, Corporate Executive Officer and CFO, explained the share buyback expansion was due to better-than-anticipated business results and cash flow, aiming to increase shareholder returns, and conveys confidence in the company's earnings momentum and fundamentals. Regarding the home entertainment separation, Ms. Tao clarified that ET&S will continue to operate with its budget for next fiscal year, as the JV is set to start from April 2027. She added that portfolio optimization is an ongoing management mission, but nothing specific has been decided regarding additional structural reforms.