Kadokawa's shares jumped 16% in early Tokyo trading on Wednesday, a day after Reuters reported Sony was in talks to acquire the publishing, anime and gaming powerhouse.
Sony is in talks to acquire Kadokawa , the Japanese media powerhouse behind the "Elden Ring" game, two sources familiar with the matter said, as the technology giant looks to add to its entertainment portfolio.
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Sony Group Corporation reported robust Q2 '24 earnings, driving shares up 12%, despite management guidance for e2h24 showing more moderate growth trends. Management is expecting growth to slow due to no major game releases and Pictures segment delays after the Hollywood strikes in 2023. Sony's Gaming and Music segments showed strong performance, with strong PlayStation Plus attachment and a 20% share of the Spotify top 100.
Sony Group Corporation (NYSE:SONY ) Q2 2024 Results Conference Call November 8, 2024 2:00 AM ET Company Participants Hiroki Totoki - President, COO, CFO Naomi Matsuoka - Senior Vice President in Charge of Corporate Planning and Control Sadahiko Hayakawa - SVP, Finance, IR Kazuhiro Yamada - Sony Financial Group Inc. Corporate Executive Officer and CFO Conference Call Participants Hayato Umegaki - Toyo Keizai Hisashi Iwato - Nikkei Business Ryo Sato - Nikkei Ryosuke Katsura - SMBC Nikko Securities Junya Ayada - JPMorgan Chase Kota Ezawa - Citigroup Kenji Yasui - UBS Yasuo Nakane - Mizuho Securities Unidentified Company Representative Okay. It is time to start Sony Group Corporation's consolidated financial results announcement session.
Investors rewarded the company's latest piece of news by snapping up its shares.
SONY' fiscal second-quarter performance benefits from steady momentum across G&NS, Music and I&SS segments amid softness in the financial services business.
Sony revised its fiscal 2025 revenue target up slightly to 12.7 trillion yen ($83 billion) — it was previously targeting 12.6 billion yen in sales. The tech giant reported better-than-expected profit for the September quarter, with operating income jumping 73% year over year.
Sony shares rose in premarket trade Friday after the company reported booming profit growth in the fiscal second quarter.
Japanese entertainment conglomerate Sony Group Corp (NYSE:SONY) reported strong year-on-year growth in its gaming and music segments, partially offset by a downturn in the film and TV department, in its first-half results. Although physical PlayStation sales were down, Sony's PlayStation Plus digital network subscriptions offset this.
The Japanese company raised its annual revenue forecast after delivering a second-quarter profit beat.