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    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
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UK Competition Watchdog to Investigate Sony's AWAL Acquisition

09/16/2021 | 05:35am EDT

By Adam Clark

The U.K. Competition and Markets Authority said Thursday that it will launch an in-depth investigation into Sony Group Corp.'s acquisition of music distributor AWAL.

The CMA said earlier in September that its Phase 1 investigation found that, if the deal hadn't gone ahead, Sony and AWAL could have competed more strongly against each other in the future, benefiting artists in their deals with distributors.

On Thursday, it said that Sony had decided not to offer any undertakings to the CMA in respect to its competition concerns so it will launch a Phase 2 investigation.

The Japanese entertainment and electronics company agreed to buy AWAL, Kobalt Music Group Ltd.'s business that distributes independent recording artists' music and manages rights, in February for $430 million.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

09-16-21 0735ET

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Analyst Recommendations on SONY GROUP CORPORATION
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Financials
Sales 2022 9 774 B 85 933 M 85 933 M
Net income 2022 778 B 6 843 M 6 843 M
Net cash 2022 787 B 6 917 M 6 917 M
P/E ratio 2022 21,4x
Yield 2022 0,46%
Capitalization 16 254 B 142 B 143 B
EV / Sales 2022 1,58x
EV / Sales 2023 1,45x
Nbr of Employees 109 700
Free-Float 98,2%
Chart SONY GROUP CORPORATION
Duration : Period :
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 13 410,00 JPY
Average target price 15 345,00 JPY
Spread / Average Target 14,4%
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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