Sony Group stocks fell sharply, temporarily dropping 6.7% from the previous day to 12,115 yen, the lowest intraday price since April 26. Some analysts focused on negative factors related to the semiconductor and movie businesses in the April-June (first quarter) financial results announced on the 9th.
Kota Ezawa, an analyst at Citigroup Securities, said that operating income landed near consensus, but that profits from movies and semiconductors fell sharply, giving a negative impression as a financial result. Assuming a short-term stock price of 12,000 to 13,000 yen.
The company announced consolidated operating profit for the April-June period of 253 billion yen, down 31% year-on-year. The slump in the financial business, the movie business, and the semiconductor business had an impact. This exceeded the 242.3 billion yen average forecast of 15 analysts compiled by Bloomberg.
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Tomoki Komiya, Senior Analyst at Mitsubishi UFJ Morgan Stanley Securities, said that although the results for the April-June quarter were in line with consensus, higher profits in music, entertainment, technology and services covered the decline in profits in games, movies, semiconductors and finance. said he couldn’t.
The slump in the movie business was due to factors such as an increase in expenses related to theatrical release. Mr. Komiya said that while the recovery of the smartphone market will be delayed until the beginning of 2025, the customer’s uptake of parts is slow and the inventory is somewhat high, and this situation is likely to continue in the second quarter.
2023-08-10 00:15:15
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