Sony Financial Group (8729) Q1 2025 earnings summary

Executive summary

• Ordinary revenues for the three months ended June 30, 2024, decreased 11.9% year-over-year to ¥908.8 billion, mainly due to lower revenues from the life insurance business despite growth in non-life insurance and banking.

• The group posted an ordinary loss of ¥15.4 billion, reversing from an ordinary profit of ¥12.4 billion in the same period last year, driven by deteriorating profits across all business segments.

• Loss attributable to owners of the parent was ¥12.2 billion, compared to a profit of ¥7.8 billion a year earlier, primarily due to temporary losses on securities sales at Sony Life.

Financial highlights

• Ordinary revenues: ¥908.8 billion, down 11.9% year-over-year.

• Ordinary loss: ¥15.4 billion, compared to a profit of ¥12.4 billion last year.

• Loss attributable to owners of the parent: ¥12.2 billion, versus a profit of ¥7.8 billion last year.

• Total assets increased to ¥22,532.6 billion as of June 30, 2024, from ¥22,083.8 billion at March 31, 2024.

• Shareholders’ equity decreased to ¥651.9 billion from ¥664.2 billion at the previous fiscal year-end.

Outlook and guidance

• The loss in the quarter was attributed to temporary factors, particularly the deterioration of gains/losses on sale of securities at Sony Life, while insurance product sales remain on a growth trajectory.