Financial Results and Earnings Forecast: Q1 FY25
IFRS
Group consolidated adjusted net income (IFRS)*1 and FY25 Financial results forecast (IFRS)
- Consolidated adjusted net income for Q1 FY25 was 20.3 billion yen (increased 0.3 billion yen compared to the same quarter of the previous fiscal year (“year-on-year”)), mainly due to decrease in auto insurance loss in the non-life insurance business
- In the life insurance business, adjusted net income decreased mainly due to an increase in risk adjustments*2 to prepare for mass lapse risk*3 with rising interest rates.
- Adjusted net income forecast for FY25 has been downwardly revised (from ¥107.5 billion to ¥98.0 billion), incorporating the recognition of accounting liabilities for increasing mass lapse risk with increased interest rate through the end of July.
(Billions of yen)
|
FY2025 (Forecast) |
FY2025 1Q |
Achievement |
| Adjusted net income |
98.0 |
20.3 |
20.8% |
Note1 SFGI consolidated net income － Adjustments for each entity
※
※Adjustments for each entity (post-tax) Sony Life: ①Investment income (net) related to variable insurance and foreign currency translation differences (excluding the equivalent of hedge costs) , ②Unrealized gains/losses related to variable insurance within insurance finance expenses (income) and foreign currency translation differences, ③Gains/losses on sales of securities, ④Other one-time gains/losses
SFGI, Sony Assurance, Sony Bank, Other entities ：One-time gains/losses
Note2: Risk adjustment for non-financial risk. This is a liability recorded as a provision for uncertainty in insurance contract cash flows, and is recorded in revenue over time. Mass lapse risk is part of the risk adjustment for non-financial risk.
Note3: Estimate of the economic value of policies in force (the difference between insurance liabilities and surrender value) that would be lost if 30% of all policies in force were surrendered at once.
J-GAAP
Financial Results Overview
Consolidated ordinary revenues decreased 19.4% compared with the same period of the previous fiscal year (year-on-year), to ¥732.4 billion, due to a decrease in ordinary revenues from the life insurance business, whereas ordinary revenues from the nonlife insurance and the banking businesses increased. Consolidated ordinary loss was ¥58.6 billion, compared to an ordinary loss of ¥15.4 billion during the same period of the previous fiscal year, due to a decrease in ordinary profit from the life insurance and the banking businesses, whereas ordinary profit from the non-life insurance business increased. Loss attributable to owners of the parent was ¥43.5 billion, compared to the loss of ¥12.2 billion during the same period of the previous fiscal year.
Financial Position Overview
As of June 30, 2025, total assets amounted to ¥23,484.5 billion, increased 0.5% from March 31, 2025. Among major components of assets, securities, mostly government bonds, amounted to ¥17,780.6 billion, increased 1.4% from March 31, 2025. Loans amounted to ¥3,899.0 billion, increased 0.0%.
Total liabilities were ¥22,854.7 billion, increased 0.7% from March 31, 2025. Major components of liabilities included policy reserves and others of ¥16,085.4 billion, increased 1.6%, and deposits totaled ¥4,267.7 billion, increased 0.6%.
Total net assets were ¥629.8 billion, decreased 6.0% from March 31, 2025. This included net unrealized gains (losses) on available for-sale securities, net of taxes, which increased by ¥3.7 billion, to ¥(69.3) billion.
Future Outlook
|
FY2025 (Forecast) |
FY2025 1Q |
Achievement |
| Ordinary Profit (Loss) |
122.0 billion yen |
(58.6) billion yen |
- |
| Profit (loss) attributable to owners of the parent |
82.0 billion yen |
(43.5) billion yen |
- |
| Basic earnings per share |
11.47 yen |
(6.10) yen |
- |