Sony Group Corporation (TSE: 6758) reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under IFRS. On a continuing-operations basis — excluding the financial business that was partial-spin-off as Sony Financial Group, Inc. ("SFGI") on October 1, 2025 — revenue rose 3.7% to ¥12,479,620 million and operating profit climbed 13.4% to ¥1,447,507 million. Pre-tax profit rose 5.9% to ¥1,422,374 million, while net profit slipped 2.8% to ¥1,055,266 million and net profit attributable to shareholders eased 3.4% to ¥1,030,893 million. Basic EPS from continuing operations was ¥172.51 (¥176.45 prior year), and the continuing-operations operating margin expanded to 11.6% from 10.6%. ROE on continuing operations was 12.6% (13.5% prior).
SFGI partial spin-off: the defining transaction of FY26
On October 1, 2025, Sony executed a partial spin-off of Sony Financial Group, Inc. (SFGI) — distributing one SFGI share for every Sony Group common share held on the September 30, 2025 record date, valued at a book amount of ¥463,885,829,967 (¥77.61 per share). From the first quarter of FY3/2026, the financial business has been classified as a discontinued operation under IFRS, with comparatives restated. The financial business contributed a loss from discontinued operations of ¥1,357,758 million for the year, driven primarily by the ¥1,377,795 million reclassification of accumulated other comprehensive income tied to the financial business at the time of deconsolidation — a within-equity transfer with no impact on cash flow, total equity, or continuing-operations earnings. On an including-discontinued basis, net profit attributable to shareholders was -¥326,865 million and basic EPS was -¥54.70.
Balance sheet shrinks ¥19.6 trillion; equity ratio more than doubles
The spin-off radically transformed the balance sheet. Total assets fell from ¥35,293,173 million to ¥15,683,490 million — a ¥19.6 trillion reduction reflecting the removal of SFGI-related investments, loans, contract assets, customer deposits, insurance contract liabilities, and 68 consolidated subsidiaries. Shareholders' equity was essentially unchanged at ¥8,119,011 million (¥8,179,745 million prior), but the equity ratio surged to 51.8% from 23.2%. Book value per share rose to ¥1,374.32 from ¥1,357.63. Cash and equivalents — including discontinued operations through the year — ended at ¥2,208,879 million (vs ¥2,980,956 million).
Cash flow heavy on M&A and shareholder returns
Operating cash flow (including discontinued operations) totaled ¥1,945,617 million vs ¥2,321,675 million, investing cash flow was a heavy outflow of ¥1,970,542 million (vs ¥930,120 million prior), and financing cash flow was -¥842,761 million (vs -¥298,243 million). Sony repurchased treasury shares as part of capital returns and saw the treasury-share count nearly double to 242,143,391 from 124,806,850.
Dividend lifted to ¥25; FY27 guides ¥1.6 trillion operating profit
The FY3/2026 annual cash dividend was set at ¥25.00 per share (¥12.50 interim + ¥12.50 year-end) — up from ¥20.00 on a split-adjusted basis — with a payout ratio of 14.5% on continuing-operations EPS. The dividend is on top of the in-kind SFGI share distribution. For FY3/2027, management guides another step up to ¥35.00 annual (¥17.50 interim + ¥17.50 year-end). Full-year FY3/2027 guidance points to revenue of ¥12,300,000 million (-1.4%), operating profit of ¥1,600,000 million (+10.5%), pre-tax profit of ¥1,615,000 million (+13.5%), and net profit attributable to shareholders of ¥1,160,000 million (+12.5%). With no discontinued-operations contribution expected in FY27, continuing and consolidated earnings will converge.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 12,479.6 | 12,034.9 | +3.7% |
| Operating profit (¥ billion) | 1,447.5 | 1,276.6 | +13.4% |
| Pre-tax profit (¥ billion) | 1,422.4 | 1,343.2 | +5.9% |
| Net profit attrib. to shareholders (¥ billion) | 1,030.9 | 1,067.4 | -3.4% |
| Basic EPS, continuing ops (¥) | 172.51 | 176.45 | -2.2% |
| Operating margin | 11.6% | 10.6% | +1.0pp |
| ROE, continuing ops | 12.6% | 13.5% | -0.9pp |
| Total assets (¥ billion) | 15,683.5 | 35,293.2 | -55.6% |
| Equity ratio | 51.8% | 23.2% | +28.6pp |
| Annual dividend (¥) | 25.00 | 20.00 | +25.0% |
| FY27 operating profit guidance (¥ billion) | 1,600.0 | — | +10.5% |
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