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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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Sony : to sell online gaming division to U.S. game company for $1 bil.

10/19/2021 | 02:08am EST

Sony Group Corp. said Tuesday an online gaming division under the wing of its U.S. unit Sony Pictures Entertainment Inc. will be sold to American mobile game company Scopely Inc. for $1 billion.

Sony Pictures Entertainment decided to sell GSN Games Inc., known for its free-to-play mobile and online casino games, given that the gaming division was not expected to provide synergy effects to other Sony businesses, according to the Japanese electronics and entertainment giant.

GSN Games is a part of U.S. cable television channel Game Show Network LLC, a wholly owned subsidiary of Sony Pictures Entertainment. Half of the $1 billion transaction will be paid in cash and the remainder in preferred equity, but the timeline of the deal has yet to be decided, Sony said.

The Japanese company said it is checking whether there will be any impact from the division's sale on its earnings forecast for the year through March 2022.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 9 855 B 86 916 M 86 916 M
Net income 2022 782 B 6 898 M 6 898 M
Net cash 2022 942 B 8 304 M 8 304 M
P/E ratio 2022 22,1x
Yield 2022 0,45%
Capitalization 17 140 B 151 B 151 B
EV / Sales 2022 1,64x
EV / Sales 2023 1,51x
Nbr of Employees 109 700
Free-Float 98,2%
Chart SONY GROUP CORPORATION
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Sony Group Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY GROUP CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Last Close Price 13 825,00 JPY
Average target price 15 849,00 JPY
Spread / Average Target 14,6%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
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