SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of August 2024

Commission File Number: 001-06439

SONY GROUP CORPORATION

(Translation of registrant’s name into English)

1-7-1 KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN

(Address of principal executive offices)

The registrant files annual reports under cover of Form 20-F.

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F,

Form 20-F x Form 40-F ¨

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SONY GROUP CORPORATION (Registrant)
By:	/s/ Hiroki Totoki
	(Signature)
Hiroki Totoki
President, Chief Operating Officer and
Chief Financial Officer

Date: August 7, 2024

List of Materials

Documents attached hereto:

Consolidated Financial Summary for the First Quarter Ended June 30, 2024

Consolidated Financial Summary for the First Quarter Ended June 30, 2024

(In accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”))

August 7, 2024
Company name	: Sony Group Corporation
Stock exchange listing	: Tokyo Stock Exchange (“TSE”)
Securities code	: 6758
URL	: https://www.sony.com/en/SonyInfo/IR/
Representative	: Kenichiro Yoshida, Representative Corporate Executive Officer
Contact person	: Sadahiko Hayakawa, Senior Vice President
Telephone	: +81-3-6748-2111
Scheduled date to commence dividend payment	: -
Preparation of supplementary materials on financial results	: Yes
Holding of financial results briefing	: Yes (for investors and analysts)

(Amounts are rounded to the nearest million yen, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)

(1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

Consolidated	Sales and financial services revenue		Operating income		Income before income taxes		Net income		Net income attributable to Sony Group Corporation’s stockholders
Three months ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
June 30, 2024	3,011,649	1.6	279,106	10.3	316,867	14.8	235,828	8.2	231,638	6.5
June 30, 2023	2,963,652	32.9	253,042	-30.6	276,034	-21.0	217,942	-16.6	217,545	-16.7

Consolidated	Total comprehensive income		Adjusted OIBDA*		Adjusted EBITDA*		Basic earnings per share	Diluted earnings per share
Three months ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen	Yen
June 30, 2024	377,881	-15.2	454,682	14.8	461,256	13.5	189.90	189.43
June 30, 2023	445,459	0.5	396,122	-19.0	406,221	-18.2	176.26	175.67

For all segments excluding Financial Services*	Sales and financial services revenue		Operating income		Income before income taxes		Net income attributable to Sony Group Corporation’s stockholders		Adjusted OIBDA*		Adjusted EBITDA*
Three months ended	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
June 30, 2024	2,567,436	12.3	249,124	25.5	286,885	5.6	210,025	-8.3	417,870	24.9	424,444	7.5
June 30, 2023	2,285,789	13.3	198,531	-12.0	271,559	8.0	229,126	13.0	334,696	-2.5	394,831	0.6

(2) Consolidated financial position

	Total assets	Total equity	Equity attributable to Sony Group Corporation’s stockholders	Ratio of equity attributable to Sony Group Corporation’s stockholders to total assets
As of	Yen in millions	Yen in millions	Yen in millions	%
June 30, 2024	34,677,809	8,148,959	7,857,452	22.7
March 31, 2024	34,107,490	7,756,105	7,587,177	22.2

2. Dividends

	Annual dividends per share
	First quarter-end	Second quarter-end	Third quarter-end	Year-end	Total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended March 31, 2024	-	40.00	-	45.00	85.00
Fiscal year ending March 31, 2025	-
Fiscal year ending March 31, 2025 (Forecast)*1		50.00	-	10.00	-

Note: Revisions to the forecast of dividends most recently announced: No

*1 Sony Group Corporation decided at the Board of Directors meeting held on May 14, 2024 to conduct a stock split, scheduled to be effective on October 1, 2024 with a record date of September 30, 2024. Each share of Sony Group Corporation’s common stock will be split into five (5) shares per share. The above year-end dividend per share forecast for the fiscal year ending March 31, 2025 is based on a number of shares taking into account the stock split. The total annual dividend per share forecast for the fiscal year ending March 31, 2025 is not presented because the total of the interim dividend and the year-end dividend cannot be calculated due to the effect of the stock split. Without taking the stock split into account, the year-end dividend per share forecast for the fiscal year ending March 31, 2025 would be 50 yen and the total annual dividend per share forecast for the fiscal year ending March 31, 2025 would be 100 yen.

3. Forecast for Consolidated Results for the Fiscal Year Ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

(Percentages indicate year-on-year changes.)

Fiscal year ending March 31, 2025	Sales and financial services revenue		Operating income		Income before income taxes		Net income attributable to Sony Group Corporation’s stockholders		Adjusted OIBDA*		Adjusted EBITDA*
	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%	Yen in millions	%
Consolidated	12,610,000	-3.2	1,310,000	8.4	1,335,000	5.2	980,000	1.0	1,990,000	9.0	1,990,000	9.5
For all segments excluding Financial Services*	11,700,000	3.9	1,165,000	12.5	1,190,000	3.9	875,000	-2.4	1,820,000	10.7	1,820,000	7.9

Note: Revisions to the forecast for the fiscal year ending March 31, 2025 most recently announced: Yes

* Adjusted OIBDA (Operating Income Before Depreciation and Amortization), Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) and figures for all segments excluding Financial Services are not measures in accordance with IFRS Accounting Standards. However, Sony Group Corporation believes that these disclosures may be useful information to investors. Adjusted OIBDA and Adjusted EBITDA are calculated by the following formulas, respectively. For the reconciliations for Adjusted OIBDA and Adjusted EBITDA, please refer to “Q1 FY2024 Consolidated Financial Results” (the presentation material for the earnings announcement) disclosed on the same date as this document on the Timely Disclosure Network (“TDnet”) of the TSE, the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) system of the U.S. Securities and Exchange Commission (“SEC”) and the website of Sony Group Corporation.

Adjusted OIBDA = Operating income + Depreciation and amortization expense excluding amortization for film costs and broadcasting rights, as well as for internally developed game content and master recordings included in Content assets - the profit and loss amount that Sony deems non-recurring.

Adjusted EBITDA = Net income attributable to Sony Group Corporation’s stockholders + Net income attributable to noncontrolling interests + Income taxes + Interest expenses, net, recorded in Financial income and Financial expense - Gain on revaluation of equity instruments, net, recorded in Financial income and Financial expense + Depreciation and amortization expense excluding amortization for film costs and broadcasting rights, as well as for internally developed game content and master recordings included in Content assets - the profit and loss amount that Sony deems non-recurring.

For details about the preparation of the Financial Statements for all segments excluding Financial Services, please refer to page 12 of the Appendix.

* Notes

(1)	Significant changes in scope of consolidation during the period		: No
(2)	Changes in accounting policies and changes in accounting estimates:
	(i)	Changes in accounting policies required by IFRS Accounting Standards	: Yes
	(ii)	Changes in accounting policies due to other reasons	: No
	(iii)	Changes in accounting estimates	: No

(3) Number of issued shares (common stock):

(i)  Total number of issued shares at the end of the period (including treasury stock)

As of June 30, 2024	1,248,619,589	shares
As of March 31, 2024	1,261,231,889	shares

(ii) Number of shares of treasury stock at the end of the period

As of June 30, 2024	30,868,630	shares
As of March 31, 2024	39,783,003	shares

(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2024	1,219,769,683	shares
Three months ended June 30, 2023	1,234,242,212	shares

Note: Please refer to “Notes to Condensed Quarterly Consolidated Financial Statements - Accounting Policy and Other Information (Net Income Attributable to Sony Group Corporation’s Stockholders and Weighted-average Number of Outstanding Shares Used for the Computation of EPS of Common Stock)” for number of shares used as basis for calculating consolidated per share data.

* Review of the attached condensed quarterly consolidated financial statements by certified public accountants or an audit firm: No

* Proper use of earnings forecasts, and other special matters:

Please refer to “Cautionary Statement” on page 17 of the Appendix for assumptions and other matters related to the forecast of financial results.

Supplementary materials on financial results including the presentation material for the earnings announcement are available on Sony Group Corporation’s website along with this document.

(Appendix)

Table of Contents for Appendix

Condensed Quarterly Consolidated Financial Statements (Unaudited)	2
Condensed Quarterly Consolidated Statements of Financial Position	2
Condensed Quarterly Consolidated Statements of Income (Three months ended June 30)	4
Condensed Quarterly Consolidated Statements of Comprehensive Income (Three months ended June 30)	5
Condensed Quarterly Consolidated Statements of Changes in Stockholders’ Equity (Three months ended June 30)	6
Condensed Quarterly Consolidated Statements of Cash Flows (Three months ended June 30)	7
Notes to Condensed Quarterly Consolidated Financial Statements	9
-      Business Segment Information	9
-      Going Concern Assumption	15
-      Accounting Policy and Other Information	15
Overview of Operating Results	17
Cautionary Statement	17

All financial information is presented on the basis of IFRS Accounting Standards.

Sony Group Corporation and its consolidated subsidiaries are together referred to as “Sony” or “Sony Group.”

- 1 -

(Unaudited)

Condensed Quarterly Consolidated Financial Statements

Condensed Quarterly Consolidated Statements of Financial Position

	Yen in millions
	March 31, 2024		June 30, 2024		Change from March 31, 2024
ASSETS
Current assets:
Cash and cash equivalents		1,907,113		1,477,098		(430,015	)
Investments and advances in the Financial Services segment		398,153		412,275		14,122
Trade and other receivables, and contract assets		2,158,196		2,080,143		(78,053	)
Inventories		1,518,644		1,692,709		174,065
Other financial assets		125,365		127,656		2,291
Other current assets		669,335		765,856		96,521
Total current assets		6,776,806		6,555,737		(221,069	)
Non-current assets:
Investments accounted for using the equity method		423,744		429,128		5,384
Investments and advances in the Financial Services segment		18,939,794		18,959,272		19,478
Property, plant and equipment		1,522,640		1,596,690		74,050
Right-of-use assets		503,395		576,710		73,315
Goodwill		1,487,100		1,583,088		95,988
Content assets		1,928,113		2,317,397		389,284
Other intangible assets		615,602		663,731		48,129
Deferred tax assets		499,550		507,971		8,421
Other financial assets		897,341		945,587		48,246
Other non-current assets		513,405		542,498		29,093
Total non-current assets		27,330,684		28,122,072		791,388
Total assets		34,107,490		34,677,809		570,319

(Continued on the following page.)

- 2 -

Condensed Quarterly Consolidated Statements of Financial Position (Continued)

	Yen in millions
	March 31, 2024			June 30, 2024			Change from March 31, 2024
LIABILITIES
Current liabilities:
Short-term borrowings		1,812,605			1,823,419			10,814
Current portion of long-term debt		217,711			214,847			(2,864	)
Trade and other payables		2,064,905			2,252,860			187,955
Deposits from customers in the banking business		3,670,567			3,690,958			20,391
Income taxes payables		152,074			91,243			(60,831	)
Participation and residual liabilities in the Pictures segment		251,743			264,049			12,306
Other financial liabilities		116,044			130,321			14,277
Other current liabilities		1,906,396			1,899,211			(7,185	)
Total current liabilities		10,192,045			10,366,908			174,863
Non-current liabilities:
Long-term debt		2,058,117			2,134,844			76,727
Defined benefit liabilities		247,583			252,354			4,771
Deferred tax liabilities		166,424			179,817			13,393
Insurance contract liabilities		12,931,995			12,776,766			(155,229	)
Participation and residual liabilities in the Pictures segment		206,081			220,842			14,761
Other financial liabilities		386,761			415,208			28,447
Other non-current liabilities		162,379			182,111			19,732
Total non-current liabilities		16,159,340			16,161,942			2,602
Total liabilities		26,351,385			26,528,850			177,465
EQUITY
Sony Group Corporation’s stockholders’ equity:
Common stock		881,357			881,357			-
Additional paid-in capital		1,483,410			1,484,449			1,039
Retained earnings		6,002,407			6,025,362			22,955
Accumulated other comprehensive income		(376,063	)		(209,524	)		166,539
Treasury stock, at cost		(403,934	)		(324,192	)		79,742
Equity attributable to Sony Group Corporation’s stockholders		7,587,177			7,857,452			270,275
Noncontrolling interests		168,928			291,507			122,579
Total equity		7,756,105			8,148,959			392,854
Total liabilities and equity		34,107,490			34,677,809			570,319

- 3 -

Condensed Quarterly Consolidated Statements of Income

	Yen in millions
	Three months ended June 30
	2023			2024			Change
Sales and financial services revenue:
Sales		2,284,543			2,565,361			280,818
Financial services revenue
Insurance revenue		142,750			152,912			10,162
Other financial services revenue		536,359			293,376			(242,983	)
Total financial services revenue		679,109			446,288			(232,821	)
Total sales and financial services revenue		2,963,652			3,011,649			47,997
Costs and expenses:
Cost of sales		1,624,510			1,784,389			159,879
Selling, general and administrative		474,939			543,414			68,475
Financial services expenses
Insurance service expenses		97,366			110,813			13,447
Insurance finance expenses (income)		489,352			261,480			(227,872	)
Other financial services expenses		37,825			43,961			6,136
Total financial services expenses		624,543			416,254			(208,289	)
Other operating (income) expense, net		(8,742	)		(9,820	)		(1,078	)
Total costs and expenses		2,715,250			2,734,237			18,987
Share of profit (loss) of investments accounted for using the equity method		4,640			1,694			(2,946	)
Operating income		253,042			279,106			26,064
Financial income		31,912			53,230			21,318
Financial expenses		8,920			15,469			6,549
Income before income taxes		276,034			316,867			40,833
Income taxes		58,092			81,039			22,947
Net income		217,942			235,828			17,886
Net income attributable to
Sony Group Corporation’s stockholders		217,545			231,638			14,093
Noncontrolling interests		397			4,190			3,793

	Yen
	Three months ended June 30
	2023		2024		Change
Per share data:
Net income attributable to Sony Group Corporation’s stockholders
- Basic		176.26		189.90		13.64
- Diluted		175.67		189.43		13.76

- 4 -

Condensed Quarterly Consolidated Statements of Comprehensive Income

	Yen in millions
	Three months ended June 30
	2023			2024			Change
Net income		217,942			235,828			17,886
Other comprehensive income, net of tax -
Items that will not be reclassified to profit or loss
Changes in equity instruments measured at fair value through other comprehensive income		(6,917	)		(15,062	)		(8,145	)
Remeasurement of defined benefit pension plans		(425	)		(787	)		(362	)
Share of other comprehensive income of investments accounted for using the equity method		139			(1,140	)		(1,279	)
Items that may be reclassified subsequently to profit or loss
Changes in debt instruments measured at fair value through other comprehensive income		(72,542	)		(432,256	)		(359,714	)
Cash flow hedges		(2,230	)		(2,277	)		(47	)
Insurance finance income (expenses)		20,517			350,402			329,885
Exchange differences on translating foreign operations		285,771			239,701			(46,070	)
Share of other comprehensive income of investments accounted for using the equity method		3,150			3,811			661
Other		54			(339	)		(393	)
Total other comprehensive income, net of tax		227,517			142,053			(85,464	)
Comprehensive income		445,459			377,881			(67,578	)
Comprehensive income attributable to
Sony Group Corporation’s stockholders		443,428			372,839			(70,589	)
Noncontrolling interests		2,031			5,042			3,011

- 5 -

Condensed Quarterly Consolidated Statements of Changes in Stockholders’ Equity

	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Accumulated other comprehensive income			Treasury stock, at cost			Sony Group Corporation’s stockholders’ equity			Noncontrolling interests			Total equity
Balance at April 1, 2023		880,365		1,463,807			5,092,442			(614,570	)		(223,507	)		6,598,537			58,613			6,657,150
Comprehensive income:
Net income							217,545									217,545			397			217,942
Other comprehensive income, net of tax										225,883						225,883			1,634			227,517
Total comprehensive income							217,545			225,883						443,428			2,031			445,459
Transfer to retained earnings							1,152			(1,152	)					-						-
Transactions with stockholders and other:
Exercise of stock acquisition rights				(1	)		(144	)					4,600			4,455						4,455
Stock-based compensation				3,127												3,127						3,127
Dividends declared							(49,380	)								(49,380	)		(1,604	)		(50,984	)
Purchase of treasury stock													(10,150	)		(10,150	)					(10,150	)
Reissuance of treasury stock				1									2			3						3
Transactions with noncontrolling interests shareholders and other				12,968												12,968			16,550			29,518
Balance at June 30, 2023		880,365		1,479,902			5,261,615			(389,839	)		(229,055	)		7,002,988			75,590			7,078,578

	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Accumulated other comprehensive income			Treasury stock, at cost			Sony Group Corporation’s stockholders’ equity			Noncontrolling interests			Total equity
Balance at April 1, 2024		881,357		1,483,410			6,002,407			(376,063	)		(403,934	)		7,587,177			168,928			7,756,105
Comprehensive income:
Net income							231,638									231,638			4,190			235,828
Other comprehensive income, net of tax										141,201						141,201			852			142,053
Total comprehensive income							231,638			141,201						372,839			5,042			377,881
Transfer to retained earnings							(25,338	)		25,338						-						-
Transactions with stockholders and other:
Exercise of stock acquisition rights and other				(1	)		(642	)					2,417			1,774						1,774
Stock-based compensation				5,504												5,504						5,504
Dividends declared							(54,965	)								(54,965	)		(2,076	)		(57,041	)
Purchase of treasury stock													(51,255	)		(51,255	)					(51,255	)
Reissuance of treasury stock				1									3			4						4
Cancellation of treasury stock				(839	)		(127,738	)					128,577			-						-
Transactions with noncontrolling interests shareholders and other				(3,626	)											(3,626	)		119,613			115,987
Balance at June 30, 2024		881,357		1,484,449			6,025,362			(209,524	)		(324,192	)		7,857,452			291,507			8,148,959

- 6 -

Condensed Quarterly Consolidated Statements of Cash Flows

	Yen in millions
	Three months ended June 30
	2023			2024
Cash flows from operating activities:
Income before income taxes		276,034			316,867
Adjustments to reconcile income before income taxes to net cash used in operating activities:
Depreciation and amortization, including amortization of contract costs		251,767			268,504
Other operating (income) expense, net		(8,742	)		(9,820	)
Gain on securities, net (other than Financial Services segment)		(14,189	)		(31,406	)
Share of loss of investments accounted for using the equity method, net of dividends		2,275			5,122
Changes in assets and liabilities:
(Increase) decrease in trade receivables and contract assets		(11,342	)		165,792
Increase in inventories		(283,152	)		(123,840	)
Increase in investments and advances in the Financial Services segment		(560,038	)		(633,041	)
Increase in content assets		(137,465	)		(257,588	)
Increase in trade payables		174,512			132,780
Increase in insurance contract liabilities, net of insurance contract assets		561,732			341,752
Increase in deposits from customers in the banking business		144,119			35,540
Decrease in borrowings in the life insurance business and the banking business		(54,691	)		(41,126	)
Increase (decrease) in taxes payable other than income taxes, net		20,014			(3,893	)
Increase in other financial assets and other current assets		(34,283	)		(41,010	)
Decrease in other financial liabilities and other current liabilities		(130,303	)		(113,984	)
Income taxes paid		(121,147	)		(109,918	)
Other		(87,770	)		(27,016	)
Net cash used in operating activities		(12,669	)		(126,285	)

(Continued on the following page.)

- 7 -

Condensed Quarterly Consolidated Statements of Cash Flows (Continued)

	Yen in millions
	Three months ended June 30
	2023			2024
Cash flows from investing activities:
Payments for property, plant and equipment and other intangible assets		(130,501	)		(211,780	)
Proceeds from sales of property, plant and equipment and other intangible assets		6,235			5,619
Payments for investments and advances (other than Financial Services segment)		(21,319	)		(15,747	)
Proceeds from sales or return of investments and collections of advances (other than Financial Services segment)		4,410			30,896
Payments for purchases of businesses and other		(59,480	)		(169,794	)
Proceeds from sales of businesses		-			1,609
Other		2,008			75
Net cash used in investing activities		(198,647	)		(359,122	)
Cash flows from financing activities:
Increase in short-term borrowings, net		294,039			24,983
Proceeds from issuance of long-term debt		5,599			6,276
Payments of long-term debt		(28,414	)		(30,091	)
Dividends paid		(48,955	)		(54,451	)
Payments for purchases of treasury stock		(10,150	)		(51,255	)
Capital contribution from non-controlling interests		-			109,527
Other		1,748			(3,457	)
Net cash provided by financing activities		213,867			1,532
Effect of exchange rate changes on cash and cash equivalents		48,648			53,860
Net increase (decrease) in cash and cash equivalents		51,199			(430,015	)
Cash and cash equivalents at beginning of the fiscal year		1,480,900			1,907,113
Cash and cash equivalents at end of the period		1,532,099			1,477,098

- 8 -

Notes to Condensed Quarterly Consolidated Financial Statements

Business Segment Information

(Business Segments)

Segment sales and financial services revenue

	Yen in millions
	Three months ended June 30
	2023			2024			Change
Sales and financial services revenue:
Game & Network Services -
Customers		755,003			844,288			89,285
Intersegment		16,877			20,623			3,746
Total		771,880			864,911			93,031
Music -
Customers		355,756			435,726			79,970
Intersegment		2,473			6,296			3,823
Total		358,229			442,022			83,793
Pictures -
Customers		320,178			336,556			16,378
Intersegment		188			790			602
Total		320,366			337,346			16,980
Entertainment, Technology & Services -
Customers		563,292			594,179			30,887
Intersegment		8,491			6,736			(1,755	)
Total		571,783			600,915			29,132
Imaging & Sensing Solutions -
Customers		270,476			333,308			62,832
Intersegment		22,264			20,172			(2,092	)
Total		292,740			353,480			60,740
Financial Services -
Customers		679,109			446,288			(232,821	)
Intersegment		2,302			2,307			5
Total		681,411			448,595			(232,816	)
All Other -
Customers		16,402			18,933			2,531
Intersegment		3,091			2,157			(934	)
Total		19,493			21,090			1,597
Corporate and elimination		(52,250	)		(56,710	)		(4,460	)
Consolidated total		2,963,652			3,011,649			47,997

Game & Network Services (“G&NS”) intersegment amounts primarily consist of transactions with the Entertainment, Technology & Services (“ET&S”) segment. ET&S intersegment amounts primarily consist of transactions with the G&NS segment. Imaging & Sensing Solutions (“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.

- 9 -

Segment profit (loss)

	Yen in millions
	Three months ended June 30
	2023			2024			Change
Operating income (loss):
Game & Network Services		49,160			65,209			16,049
Music		73,380			85,893			12,513
Pictures		15,971			11,308			(4,663	)
Entertainment, Technology & Services		55,646			64,083			8,437
Imaging & Sensing Solutions		12,731			36,647			23,916
Financial Services		54,514			29,985			(24,529	)
All Other		2,475			1,275			(1,200	)
Total		263,877			294,400			30,523
Corporate and elimination		(10,835	)		(15,294	)		(4,459	)
Consolidated operating income		253,042			279,106			26,064

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.

- 10 -

(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
	Three months ended June 30
Sales and financial services revenue:	2023		2024		Change
Game & Network Services
Digital Software and Add-on Content		365,346		432,752		67,406
Network Services		124,499		159,346		34,847
Hardware and Others		265,158		252,190		(12,968	)
Total		755,003		844,288		89,285
Music
Recorded Music - Streaming		164,887		196,663		31,776
Recorded Music - Others		72,885		102,616		29,731
Music Publishing		75,139		96,676		21,537
Visual Media and Platform		42,845		39,771		(3,074	)
Total		355,756		435,726		79,970
Pictures
Motion Pictures		125,504		133,034		7,530
Television Productions		104,231		94,285		(9,946	)
Media Networks		90,443		109,237		18,794
Total		320,178		336,556		16,378
Entertainment, Technology & Services
Televisions		135,982		129,124		(6,858	)
Audio and Video		89,149		97,321		8,172
Still and Video Cameras		161,874		192,453		30,579
Mobile Communications		87,362		81,041		(6,321	)
Other		88,925		94,240		5,315
Total		563,292		594,179		30,887
Imaging & Sensing Solutions		270,476		333,308		62,832
Financial Services		679,109		446,288		(232,821	)
All Other		16,402		18,933		2,531
Corporate		3,436		2,371		(1,065	)
Consolidated total		2,963,652		3,011,649		47,997

In the G&NS segment, Digital Software and Add-on Content includes distribution of software titles and add-on content through the network; Network Services includes network services relating to game, video and music content; Hardware and Others includes home gaming consoles, packaged software, game software sold bundled with home gaming consoles, peripheral devices and first-party software for third-party platforms. In the Music segment, Recorded Music - Streaming includes the distribution of digital recorded music by streaming; Recorded Music - Others includes the distribution of recorded music by physical media and digital download as well as revenue derived from artists’ live performances and merchandising; Music Publishing includes the management and licensing of the words and music of songs; Visual Media and Platform includes the production and distribution of animation titles and game applications, and various service offerings for music and visual products. In the Pictures segment, Motion Pictures includes the worldwide production, acquisition and distribution of live-action and animated motion pictures; Television Productions includes the production, acquisition and distribution of television programming; Media Networks includes the operation of television networks and direct-to-consumer streaming services worldwide. In the ET&S segment, Televisions includes LCD and OLED televisions; Audio and Video includes Blu-ray disc players and recorders, home audio, headphones and memory-based portable audio devices; Still and Video Cameras includes interchangeable lens cameras, compact digital cameras, consumer video cameras and video cameras for broadcast; Mobile Communications includes smartphones and an internet-related service business; Other includes display products such as projectors and medical equipment.

- 11 -

(Condensed Quarterly Financial Services Financial Statements)

The following schedules show unaudited condensed quarterly financial statements for the Financial Services segment and all other segments excluding Financial Services. These presentations are not in accordance with IFRS Accounting Standards, which is used by Sony to prepare its condensed quarterly consolidated financial statements. However, because the Financial Services segment is different in nature from Sony’s other segments, Sony believes that a comparative presentation may be useful in understanding and analyzing Sony’s condensed quarterly consolidated financial statements. Both financial statements include transactions between the Financial Services segment and Sony without the Financial Services segment. The figures shown in the respective presentations for the Financial Services segment and Sony without the Financial Services segment are prior to the elimination and/or offset of such transactions and deferred tax assets and deferred tax liabilities of each. The consolidated column is presented net of the elimination and/or offset of such intercompany balances and deferred tax assets and liabilities.

Condensed Quarterly Statements of Financial Position

	Yen in millions
	Financial Services				Sony without Financial Services				Consolidated
	March 31, 2024		June 30, 2024		March 31, 2024		June 30, 2024		March 31, 2024		June 30, 2024
ASSETS
Current assets:
Cash and cash equivalents	¥	913,815	¥	630,317	¥	993,298	¥	846,781	¥	1,907,113	¥	1,477,098
Investments and advances in the Financial Services segment		398,153		412,275		-		-		398,153		412,275
Trade and other receivables, and contract assets		127,016		148,274		2,033,170		1,934,878		2,158,196		2,080,143
Inventories		-		-		1,518,644		1,692,709		1,518,644		1,692,709
Other financial assets		57,254		51,275		68,111		76,382		125,365		127,656
Other current assets		50,487		64,444		625,539		709,232		669,335		765,856
Total current assets		1,546,725		1,306,585		5,238,762		5,259,982		6,776,806		6,555,737
Non-current assets:
Investments accounted for using the equity method		4,905		4,943		418,839		424,185		423,744		429,128
Investments and advances in the Financial Services segment		18,939,794		18,959,272		-		-		18,939,794		18,959,272
Investments in Financial Services, at cost		-		-		550,483		550,483		-		-
Property, plant and equipment		14,162		13,898		1,508,151		1,582,466		1,522,640		1,596,690
Right-of-use assets		76,288		78,259		428,224		499,555		503,395		576,710
Goodwill and intangible assets, including content assets		77,323		76,924		3,953,492		4,487,292		4,030,815		4,564,216
Deferred tax assets		-		-		520,613		511,748		499,550		507,971
Other financial assets		52,882		53,981		848,599		895,754		897,341		945,587
Other non-current assets		165,049		165,158		421,258		450,075		513,405		542,498
Total non-current assets		19,330,403		19,352,435		8,649,659		9,401,558		27,330,684		28,122,072
Total assets	¥	20,877,128	¥	20,659,020	¥	13,888,421	¥	14,661,540	¥	34,107,490	¥	34,677,809
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings	¥	1,802,337	¥	1,774,775	¥	227,979	¥	263,491	¥	2,030,316	¥	2,038,266
Trade and other payables		61,153		78,329		2,005,112		2,177,276		2,064,905		2,252,860
Deposits from customers in the banking business		3,670,567		3,690,958		-		-		3,670,567		3,690,958
Income taxes payables		10,050		2,973		142,024		88,270		152,074		91,243
Participation and residual liabilities in the Pictures segment		-		-		251,743		264,049		251,743		264,049
Other financial liabilities		77,523		79,926		38,522		50,395		116,044		130,321
Other current liabilities		209,555		216,797		1,704,158		1,690,500		1,906,396		1,899,211
Total current liabilities		5,831,185		5,843,758		4,369,538		4,533,981		10,192,045		10,366,908
Non-current liabilities:
Long-term debt		703,106		691,697		1,355,011		1,443,147		2,058,117		2,134,844
Defined benefit liabilities		39,284		39,221		208,299		213,133		247,583		252,354
Deferred tax liabilities		36,368		18,599		165,877		179,880		166,424		179,817
Insurance contract liabilities		12,931,995		12,776,766		-		-		12,931,995		12,776,766
Participation and residual liabilities in the Pictures segment		-		-		206,081		220,842		206,081		220,842
Other financial liabilities		214,414		228,456		175,263		189,688		386,761		415,208
Other non-current liabilities		7,607		7,557		176,767		196,356		162,379		182,111
Total non-current liabilities		13,932,774		13,762,296		2,287,298		2,443,046		16,159,340		16,161,942
Total liabilities		19,763,959		19,606,054		6,656,836		6,977,027		26,351,385		26,528,850
Equity:
Stockholders’ equity of Financial Services		1,113,169		1,052,966		-		-		-		-
Stockholders’ equity of Sony without Financial Services		-		-		7,062,657		7,393,006		-		-
Sony Group Corporation’s stockholders’ equity		-		-		-		-		7,587,177		7,857,452
Noncontrolling interests		-		-		168,928		291,507		168,928		291,507
Total equity		1,113,169		1,052,966		7,231,585		7,684,513		7,756,105		8,148,959
Total liabilities and equity	¥	20,877,128	¥	20,659,020	¥	13,888,421	¥	14,661,540	¥	34,107,490	¥	34,677,809

- 12 -

Condensed Quarterly Statements of Income

	Yen in millions
	Three months ended June 30
	Financial Services				Sony without Financial Services						Consolidated
	2023		2024		2023			2024			2023			2024
Sales	¥	-	¥	-	¥	2,285,789		¥	2,567,436		¥	2,284,543		¥	2,565,361
Financial services revenue		681,411		448,595		-			-			679,109			446,288
Total sales and financial services revenue		681,411		448,595		2,285,789			2,567,436			2,963,652			3,011,649
Cost of sales		-		-		1,627,562			1,786,603			1,624,510			1,784,389
Selling, general and administrative		-		-		473,129			543,274			474,939			543,414
Financial services expenses		626,846		418,561		-			-			624,543			416,254
Other operating (income) expense, net		51		87		(8,793	)		(9,909	)		(8,742	)		(9,820	)
Total costs and expenses		626,897		418,648		2,091,898			2,319,968			2,715,250			2,734,237
Share of profit (loss) of investments accounted for using the equity method		-		38		4,640			1,656			4,640			1,694
Operating income		54,514		29,985		198,531			249,124			253,042			279,106
Financial income (expenses), net		-		-		73,028			37,761			22,992			37,761
Income before income taxes		54,514		29,985		271,559			286,885			276,034			316,867
Income taxes		15,905		8,500		42,187			72,670			58,092			81,039
Net income		38,609		21,485		229,372			214,215			217,942			235,828
Net income of Financial Services	¥	38,458	¥	21,485	¥	-		¥	-		¥	-		¥	-
Net income of Sony without Financial Services	¥	-	¥	-	¥	229,126		¥	210,025		¥	-		¥	-
Net income attributable to Sony Group Corporation’s stockholders	¥	-	¥	-	¥	-		¥	-		¥	217,545		¥	231,638
Net income attributable to noncontrolling interests	¥	151	¥	-	¥	246		¥	4,190		¥	397		¥	4,190

- 13 -

Condensed Quarterly Statements of Cash Flows

	Yen in millions
	Three months ended June 30
	Financial Services						Sony without Financial Services						Consolidated
	2023			2024			2023			2024			2023			2024
Cash flows from operating activities:
Income (loss) before income taxes	¥	54,514		¥	29,985		¥	271,559		¥	286,885		¥	276,034		¥	316,867
Adjustments to reconcile income (loss) before income taxes to net cash provided by (used in) operating activities:
Depreciation and amortization, including amortization of contract costs		6,915			6,830			244,852			261,674			251,767			268,504
Other operating (income) expense, net		51			87			(8,793	)		(9,909	)		(8,742	)		(9,820	)
(Gain) loss on securities, net (other than Financial Services segment)		-			-			(14,189	)		(31,406	)		(14,189	)		(31,406	)
Changes in assets and liabilities:
(Increase) decrease in trade receivables and contract assets		(21,911	)		(21,258	)		13,650			186,030			(11,342	)		165,792
(Increase) decrease in inventories		-			-			(283,152	)		(123,840	)		(283,152	)		(123,840	)
(Increase) decrease in investments and advances in the Financial Services segment		(560,038	)		(633,041	)		-			-			(560,038	)		(633,041	)
(Increase) decrease in content assets		-			-			(137,465	)		(257,588	)		(137,465	)		(257,588	)
Increase (decrease) in trade payables		(3,391	)		21,238			174,965			112,972			174,512			132,780
Increase (decrease) in insurance contract liabilities, net of insurance contract assets		561,732			341,752			-			-			561,732			341,752
Increase (decrease) in deposits from customers in the banking business		144,119			35,540			-			-			144,119			35,540
Increase (decrease) in borrowings in the life insurance business and the banking business		(54,691	)		(41,126	)		-			-			(54,691	)		(41,126	)
Increase (decrease) in taxes payable other than income taxes, net		27,995			73			(7,981	)		(3,966	)		20,014			(3,893	)
Other		(37,230	)		(13,287	)		(334,115	)		(273,888	)		(371,228	)		(286,806	)
Net cash provided by (used in) operating activities		118,065			(273,207	)		(80,669	)		146,964			(12,669	)		(126,285	)
Cash flows from investing activities:
Payments for property, plant and equipment and other intangible assets		(5,602	)		(7,613	)		(124,929	)		(204,212	)		(130,501	)		(211,780	)
Payments for investments and advances (other than Financial Services segment)		-			-			(21,319	)		(15,747	)		(21,319	)		(15,747	)
Proceeds from sales or return of investments and collections of advances (other than Financial Services segment)		-			-			4,410			30,896			4,410			30,896
Other		1			(182	)		(51,238	)		(162,309	)		(51,237	)		(162,491	)
Net cash provided by (used in) investing activities		(5,601	)		(7,795	)		(193,076	)		(351,372	)		(198,647	)		(359,122	)
Cash flows from financing activities:
Increase (decrease) in borrowings, net		(2,671	)		(2,614	)		273,895			3,783			271,224			1,168
Dividends paid		(50,037	)		-			(48,955	)		(54,451	)		(48,955	)		(54,451	)
Other		(1	)		118			(8,399	)		54,699			(8,402	)		54,815
Net cash provided by (used in) financing activities		(52,709	)		(2,496	)		216,541			4,031			213,867			1,532
Effect of exchange rate changes on cash and cash equivalents		-			-			48,648			53,860			48,648			53,860
Net increase (decrease) in cash and cash equivalents		59,755			(283,498	)		(8,556	)		(146,517	)		51,199			(430,015	)
Cash and cash equivalents at beginning of the fiscal year		756,493			913,815			724,407			993,298			1,480,900			1,907,113
Cash and cash equivalents at end of the period	¥	816,248		¥	630,317		¥	715,851		¥	846,781		¥	1,532,099		¥	1,477,098

- 14 -

Going Concern Assumption

Not Applicable

Accounting Policy and Other Information

(Changes in accounting policies)

Sony newly adopted the following accounting standards from the fiscal year ending March 31, 2025:

Amendments to IAS 1 “Presentation of Financial Statements”

In January 2020, the International Accounting Standards Board (“IASB”) issued “Classification of Liabilities as Current or Non-current (Amendments to IAS 1).” The amendments clarify the right of a company to defer settlement of a liability, which is one of the existing requirements when classifying a liability to current or non-current. In addition, in October 2022, the IASB issued “A Non-current Liability with Covenants (Amendments to IAS 1).” The amendments require companies to disclose information about covenants in order for investors to understand the risk that such non-current debt with covenants could become repayable within twelve months. Both of these amendments were effective for Sony as of April 1, 2024. The adoption of these amendments has no material impact on Sony’s results of operations and financial position.

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 require companies to disclose information about supplier finance arrangements and were effective for Sony as of April 1, 2024. Since these amendments only affect disclosures, they have no impact on Sony’s results of operations and financial position.

(Net Income Attributable to Sony Group Corporation’s Stockholders and Weighted-average Number of Outstanding Shares Used for the Computation of EPS of Common Stock)

	Yen in millions
	Three months ended June 30
	2023		2024
Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation		217,545		231,638

	Thousands of shares
	Three months ended June 30
	2023		2024
Weighted-average shares outstanding for basic EPS computation		1,234,242		1,219,770
Effect of dilutive securities:
Stock options		3,909		2,787
Restricted stock units		212		249
Weighted-average shares for diluted EPS computation		1,238,363		1,222,806

(Segmentation)

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 insurance businesses and the banking business in Japan. All Other consists of various operating activities, including the disc manufacturing and recording media businesses. Sony’s products and services are generally unique to a single operating segment.

- 15 -

(Supplemental cash flow information)

During the three months ended June 30, 2024, Sony established a new joint venture in the Music segment with a third party partner, which acquired interests in companies that own certain music and other assets (the “target companies”), and Sony also acquired music assets directly from other rights holders. Sony consolidated the joint venture through Sony’s majority interest and reflected the consideration of 133,064 million yen for the acquisition of the interests in the target companies in cash flows from investing activities as “Payments for purchases of businesses and other.” Sony primarily recognized 116,289 million yen of content assets (music catalogs) and 11,501 million yen of other intangible assets from the acquisition of the interests in the target companies. The acquisition of the interests in the target companies is accounted for as an acquisition of a group of assets that does not constitute a business. The content assets (music catalogs) directly acquired from other rights holders were recorded in cash flows from operating activities as “Increase in content assets.”

(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 July 31, 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 three months ended June 30, 2023, would be as follows.

	Yen
	Three months ended June 30
	2023		2024
Basic net income attributable to Sony Group Corporation’s stockholders per share		35.25		37.98
Diluted net income attributable to Sony Group Corporation’s stockholders per share		35.13		37.89

- 16 -

Overview of Operating Results

For the overview of operating results for the three months ended June 30, 2024, including the forecast for the fiscal year ending March 31, 2025, please refer to “Q1 FY2024 Consolidated Financial Results” (the presentation material for the earnings announcement) disclosed on the same date as this document on the TDnet of the TSE, the EDGAR system of the U.S. SEC and the website of Sony Group Corporation.

Cautionary Statement

Statements made in this material with respect to Sony’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. Forward-looking statements include, but are not limited to, those statements using words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “forecast,” “estimate,” “project,” “anticipate,” “aim,” “intend,” “seek,” “may,” “might,” “could” or “should,” and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management’s assumptions, judgments and beliefs in light of the information currently available to it. Sony cautions investors that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore investors should not place undue reliance on them. Investors also should not rely on any obligation of Sony to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Sony disclaims any such obligation. Risks and uncertainties that might affect Sony include, but are not limited to:

(i)	Sony’s ability to maintain product quality and customer satisfaction with its products and services;
(ii)	Sony’s ability to continue to design and develop and win acceptance of, as well as achieve sufficient cost reductions for, its products and services, including image sensors, game and network platforms, smartphones and televisions, which are offered in highly competitive markets characterized by severe price competition and continual new product and service introductions, rapid development in technology and subjective and changing customer preferences;
(iii)	Sony’s ability to implement successful hardware, software, and content integration strategies, and to develop and implement successful sales and distribution strategies in light of new technologies and distribution platforms;
(iv)	the effectiveness of Sony’s strategies and their execution, including but not limited to the success of Sony’s acquisitions, joint ventures, investments, capital expenditures, restructurings and other strategic initiatives;
(v)	changes in laws, regulations and government policies in the markets in which Sony and its third-party suppliers, service providers and business partners operate, including those related to taxation, as well as growing consumer focus on corporate social responsibility;
(vi)	Sony’s continued ability to identify the products, services and market trends with significant growth potential, to devote sufficient resources to research and development, to prioritize investments and capital expenditures correctly and to recoup its investments and capital expenditures, including those required for technology development and product capacity;
(vii)	Sony’s reliance on external business partners, including for the procurement of parts, components, software and network services for its products or services, the manufacturing, marketing and distribution of its products, and its other business operations;
(viii)	the global economic and political environment in which Sony operates and the economic and political conditions in Sony’s markets, particularly levels of consumer spending;
(ix)	Sony’s ability to meet operational and liquidity needs as a result of significant volatility and disruption in the global financial markets or a ratings downgrade;
(x)	Sony’s ability to forecast demands, manage timely procurement and control inventories;
(xi)	foreign exchange rates, particularly between the yen and the U.S. dollar, the euro and other currencies in which Sony makes significant sales and incurs production costs, or in which Sony’s assets, liabilities and operating results are denominated;
(xii)	Sony’s ability to recruit, retain and maintain productive relations with highly skilled personnel;
(xiii)	Sony’s ability to prevent unauthorized use or theft of intellectual property rights, to obtain or renew licenses relating to intellectual property rights and to defend itself against claims that its products or services infringe the intellectual property rights owned by others;
(xiv)	the impact of changes in interest rates and unfavorable conditions or developments (including market fluctuations or volatility) in the equity and bond markets on the revenue and operating income of the Financial Services segment;
(xv)	shifts in customer demand for financial services such as life insurance and Sony’s ability to conduct successful asset liability management in the Financial Services segment;
(xvi)	risks related to catastrophic disasters, geopolitical conflicts, pandemic disease or similar events;
(xvii)	the ability of Sony, its third-party service providers or business partners to anticipate and manage cybersecurity risk, including the risk of unauthorized access to Sony’s business information and the personally identifiable information of its employees and customers, potential business disruptions or financial losses; and
(xviii)	the outcome of pending and/or future legal and/or regulatory proceedings.

Risks and uncertainties also include the impact of any future events with material adverse impact. The continued impact of developments relating to the situations in Ukraine and Russia and in the Middle East could heighten many of the risks and uncertainties noted above. Important information regarding risks and uncertainties is also set forth in Sony’s most recent Form 20-F, which is on file with the U.S. Securities and Exchange Commission.

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