Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | SONY GROUP CORPORATION |
Entity Central Index Key | 0000313838 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Transition Report | false |
Document Annual Report | true |
Document Shell Company Report | false |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Registration Statement | false |
Entity File Number | 1-6439 |
Entity Incorporation, State or Country Code | M0 |
Entity Address, Address Line One | 7-1, KONAN 1-CHOME |
Entity Address, City or Town | MINATO-KU |
Entity Address, Postal Zip Code | 108-0075 |
Entity Address, Country | JP |
Document Accounting Standard | U.S. GAAP |
ICFR Auditor Attestation Flag | true |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | J. Justin Hill, Senior Vice President, Finance & Investor Relations |
Entity Address, Address Line One | 25 Madison Avenue, 26th Floor |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10010-8601 |
Local Phone Number | 833-6722 |
City Area Code | 212 |
American depositary shares | |
Document Information [Line Items] | |
Trading Symbol | SONY |
Entity Common Stock, Shares Outstanding | 118,979,394 |
Security Exchange Name | NYSE |
Title of 12(b) Security | American Depositary Shares |
Common stock | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 1,239,227,575 |
Security Exchange Name | NONE |
Title of 12(b) Security | Common Stock |
No Trading Symbol Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | ¥ 1,786,982 | ¥ 1,512,357 |
Marketable securities (including assets pledged that secured parties are permitted to sell or repledge of 17,521 million yen and 48,899 million yen in 2020 and 2021) | 2,902,438 | 1,847,772 |
Notes and accounts receivable, trade and contract assets | 1,099,300 | 1,028,793 |
Allowance for credit losses | (29,406) | (25,873) |
Inventories | 637,391 | 589,969 |
Other receivables | 283,499 | 188,106 |
Prepaid expenses and other current assets | 538,540 | 594,021 |
Total current assets | 7,218,744 | 5,735,145 |
Film costs | 459,426 | 427,336 |
Investments and advances: | ||
Affiliated companies | 226,218 | 207,922 |
Securities investments and other (including assets pledged that secured parties are permitted to sell or repledge of 930,882 million yen and 1,751,452 million yen in 2020 and 2021) | 14,046,196 | 12,526,210 |
Allowance for credit losses | (8,419) | |
Long-term Investments, Total | 14,263,995 | 12,734,132 |
Property, plant and equipment: | ||
Land | 79,557 | 81,482 |
Buildings | 683,249 | 659,556 |
Machinery and equipment | 1,748,961 | 1,725,720 |
Construction in progress | 100,728 | 76,391 |
Property, Plant and Equipment, Gross, Total | 2,612,495 | 2,543,149 |
Less - Accumulated depreciation | 1,627,061 | 1,634,505 |
Property, plant and equipment, net | 985,434 | 908,644 |
Other assets: | ||
Operating lease right-of-use assets | 337,322 | 359,510 |
Finance lease right-of-use assets | 39,772 | 33,100 |
Intangibles, net | 996,305 | 906,310 |
Goodwill | 827,149 | 783,888 |
Deferred insurance acquisition costs | 657,420 | 600,901 |
Deferred income taxes | 207,470 | 210,372 |
Other | 361,803 | 340,005 |
Other noncurrent assets | 3,427,241 | 3,234,086 |
Total assets | 26,354,840 | 23,039,343 |
Current liabilities: | ||
Short-term borrowings | 1,187,868 | 810,176 |
Current portion of long-term debt | 131,699 | 29,807 |
Current portion of long-term operating lease liabilities | 73,362 | 68,942 |
Notes and accounts payable, trade | 599,569 | 380,810 |
Accounts payable, other and accrued expenses | 1,756,833 | 1,630,197 |
Accrued income and other taxes | 165,406 | 145,996 |
Deposits from customers in the banking business | 2,773,885 | 2,440,783 |
Other | 1,126,802 | 733,732 |
Total current liabilities | 7,815,424 | 6,240,443 |
Long-term debt | 773,294 | 634,966 |
Long-term operating lease liabilities | 290,259 | 314,836 |
Accrued pension and severance costs | 254,103 | 324,655 |
Deferred income taxes | 366,761 | 549,538 |
Future insurance policy benefits and other | 6,599,977 | 6,246,047 |
Policyholders' account in the life insurance business | 4,331,065 | 3,642,271 |
Other | 294,302 | 289,285 |
Total liabilities | 20,725,185 | 18,242,041 |
Redeemable noncontrolling interest | 8,179 | 7,767 |
Commitments and contingent liabilities | ||
Sony Group Corporation's stockholders' equity: | ||
Common stock, no par value — 2020 — Shares authorized: 3,600,000,000; shares issued: 1,261,058,781 2021 — Shares authorized: 3,600,000,000; shares issued: 1,261,058,781 | 880,214 | 880,214 |
Additional paid-in capital | 1,486,721 | 1,289,719 |
Retained earnings | 3,857,152 | 2,768,856 |
Accumulated other comprehensive income - | ||
Unrealized gains on securities, net | 101,305 | 161,191 |
Unrealized gains on derivative instruments, net | 2,761 | 1,248 |
Pension liability adjustment | (223,468) | (235,520) |
Foreign currency translation adjustments | (404,529) | (509,872) |
Debt valuation adjustments | (89) | 1,973 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total | (524,020) | (580,980) |
Treasury stock, at cost Common stock 2020 — 40,898,841 shares 2021 — 21,831,206 shares | (124,228) | (232,503) |
Stockholders' Equity Attributable to Parent, Total | 5,575,839 | 4,125,306 |
Noncontrolling interests | 45,637 | 664,229 |
Total equity | 5,621,476 | 4,789,535 |
Total liabilities and equity | ¥ 26,354,840 | ¥ 23,039,343 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Marketable securities current pledged with secured parties | ¥ 48,899 | ¥ 17,521 |
Investment securities pledged with secured parties | ¥ 1,751,452 | ¥ 930,882 |
Common stock, par value | ||
Common stock, shares authorized | 3,600,000,000 | 3,600,000,000 |
Common stock, shares issued | 1,261,058,781 | 1,261,058,781 |
Treasury stock, common stock shares | 21,831,206 | 40,898,841 |
Consolidated Statements of Inco
Consolidated Statements of Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Sales and operating revenue: | |||
Revenue | ¥ 8,999,360 | ¥ 8,259,885 | ¥ 8,665,687 |
Costs and expenses: | |||
Cost of sales | 5,072,596 | 4,753,174 | 5,150,750 |
Selling, general and administrative | 1,469,955 | 1,502,625 | 1,576,825 |
Financial services expenses | 1,488,963 | 1,171,875 | 1,112,446 |
Other operating (income) expense, net | 7,468 | (3,611) | (71,568) |
Costs and Expenses, Total | 8,038,982 | 7,424,063 | 7,768,453 |
Equity in net income (loss) of affiliated companies | 11,487 | 9,637 | (2,999) |
Operating income | 971,865 | 845,459 | 894,235 |
Other income: | |||
Interest and dividends | 10,457 | 19,278 | 21,618 |
Gain on equity securities, net | 247,026 | 118,677 | |
Other | 6,752 | 2,671 | 4,440 |
Other income, Total | 264,235 | 21,949 | 144,735 |
Other expenses: | |||
Interest | 12,185 | 11,090 | 12,467 |
Loss on equity securities, net | 20,180 | ||
Foreign exchange loss, net | 16,056 | 26,789 | 11,279 |
Net periodic benefit costs other than service costs | 8,811 | 4,572 | |
Other | 6,678 | 5,327 | 3,576 |
Other expenses, Total | 43,730 | 67,958 | 27,322 |
Income before income taxes | 1,192,370 | 799,450 | 1,011,648 |
Income taxes: | |||
Current | 154,422 | 172,391 | 166,748 |
Deferred | (153,427) | 4,799 | (121,650) |
Income tax expense, Total | 995 | 177,190 | 45,098 |
Net income | 1,191,375 | 622,260 | 966,550 |
Less — Net income attributable to noncontrolling interests | 19,599 | 40,069 | 50,279 |
Net income attributable to Sony Group Corporation's stockholders | ¥ 1,171,776 | ¥ 582,191 | ¥ 916,271 |
Net income attributable to Sony Group Corporation's stockholders | |||
— Basic | ¥ 952.29 | ¥ 471.64 | ¥ 723.41 |
— Diluted | ¥ 936.90 | ¥ 461.23 | ¥ 707.74 |
Product and Service | |||
Sales and operating revenue: | |||
Revenue | ¥ 7,252,766 | ¥ 6,856,090 | ¥ 7,306,235 |
Financial services revenue | |||
Sales and operating revenue: | |||
Revenue | 1,661,520 | 1,299,847 | 1,274,708 |
Other Operating Revenue | |||
Sales and operating revenue: | |||
Revenue | ¥ 85,074 | ¥ 103,948 | ¥ 84,744 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | ¥ 1,191,375 | ¥ 622,260 | ¥ 966,550 |
Other comprehensive income, net of tax — | |||
Unrealized gains (losses) on securities | (102,492) | 40,390 | 33,285 |
Unrealized gains on derivative instruments | 1,513 | 1,267 | 1,223 |
Pension liability adjustment | 12,965 | 74,971 | (13,960) |
Foreign currency translation adjustments | 106,826 | (75,888) | 8,444 |
Debt valuation adjustments | (3,120) | 3,032 | |
Total comprehensive income | 1,207,067 | 666,032 | 995,542 |
Less — Comprehensive income attributable to noncontrolling interests | 8,231 | 54,151 | 57,669 |
Comprehensive income attributable to Sony Group Corporation's stockholders | ¥ 1,198,836 | ¥ 611,881 | ¥ 937,873 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities: | |||
Net income | ¥ 1,191,375 | ¥ 622,260 | ¥ 966,550 |
Adjustments to reconcile net income to net cash provided by operating activities - | |||
Depreciation and amortization, including amortization of deferred insurance acquisition costs and contract costs | 390,693 | 416,642 | 374,026 |
Amortization of film costs | 273,044 | 329,809 | 348,493 |
Accrual for pension and severance costs, less payments | (42,936) | 8,948 | (33,631) |
Other operating (income) expense, net | 7,468 | (3,611) | (71,568) |
(Gain) loss on securities investments, net (other than financial services business) | (247,033) | 20,177 | (118,630) |
(Gain) loss on marketable securities and securities investments held in the financial services business, net | (478,321) | 93,088 | (66,383) |
Deferred income taxes | (153,427) | 4,799 | (121,650) |
Equity in net (income) loss of affiliated companies, net of dividends | (4,948) | (5,114) | 7,947 |
Changes in assets and liabilities: | |||
(Increase) decrease in notes and accounts receivable, trade and contract assets | (37,779) | 62,654 | 1,144 |
(Increase) decrease in inventories | (57,007) | 40,315 | 30,455 |
Increase in film costs | (280,541) | (361,194) | (410,994) |
Increase (decrease) in notes and accounts payable, trade | 211,939 | (91,435) | 18,534 |
Increase (decrease) in accrued income and other taxes | 80,165 | (40,144) | (20,039) |
Increase in future insurance policy benefits and other | 905,343 | 520,683 | 544,179 |
Increase in deferred insurance acquisition costs | (102,289) | (99,433) | (88,807) |
Increase in marketable securities held in the life insurance business | (156,132) | (124,270) | (64,034) |
(Increase) decrease in other current assets | (102,400) | (37,286) | 16,576 |
Increase (decrease) in other current liabilities | 62,619 | (27,083) | 56,723 |
Other | (109,683) | 19,940 | (110,153) |
Net cash provided by operating activities | 1,350,150 | 1,349,745 | 1,258,738 |
Cash flows from investing activities: | |||
Payments for purchases of fixed assets | (512,239) | (439,761) | (312,644) |
Proceeds from sales of fixed assets | 15,823 | 18,758 | 17,585 |
Payment for EMI Music Publishing acquisition, net of cash acquired | (244,197) | ||
Proceeds from sales of businesses | 3,151 | 12,816 | |
Other | (23,481) | (14,729) | (30,821) |
Net cash used in investing activities | (1,781,516) | (1,352,278) | (1,307,445) |
Cash flows from financing activities: | |||
Proceeds from issuance of long-term debt | 406,857 | 118,447 | 94,351 |
Payments of long-term debt | (98,134) | (198,055) | (382,671) |
Increase in short-term borrowings, net | 355,536 | 193,332 | 123,979 |
Increase in deposits from customers in the financial services business, net | 467,286 | 258,720 | 246,945 |
Dividends paid | (61,288) | (49,574) | (38,067) |
Payments for purchase of treasury stock | (366) | (200,211) | (100,177) |
Other | (6,226) | (17,107) | (35,203) |
Net cash provided by (used in) financing activities | 666,967 | 65,658 | (122,884) |
Effect of exchange rate changes on cash and cash equivalents, including restricted | 36,668 | (21,643) | 52,465 |
Net increase (decrease) in cash and cash equivalents, including restricted | 272,269 | 41,482 | (119,126) |
Cash and cash equivalents, including restricted, at beginning of the fiscal year | 1,515,295 | 1,473,813 | 1,592,939 |
Cash and cash equivalents, including restricted, at end of the fiscal year | 1,787,564 | 1,515,295 | 1,473,813 |
Less - Restricted cash and cash equivalents, included in other current assets and other assets | 582 | 2,938 | 3,740 |
Cash and cash equivalents at end of the fiscal year | 1,786,982 | 1,512,357 | 1,470,073 |
Cash paid during the fiscal year for - | |||
Income taxes | 119,084 | 216,922 | 210,499 |
Interest | 8,491 | 10,000 | 10,882 |
Non-cash investing and financing activities - | |||
Conversion of convertible bonds | 78,342 | 430 | 16 |
Obtaining assets by entering into finance leases | 9,597 | 6,478 | 32,541 |
Financial Services Business | |||
Cash flows from investing activities: | |||
Payments for investments and advances | (1,631,017) | (1,319,062) | (1,078,250) |
Proceeds from sales or return of investments and collections of advances | 449,081 | 343,740 | 309,498 |
Other than financial service business | |||
Cash flows from investing activities: | |||
Payments for investments and advances | (103,143) | (48,853) | (53,525) |
Proceeds from sales or return of investments and collections of advances | 20,309 | 14,456 | 2,442 |
Nile Acquisition LLC | |||
Cash flows from financing activities: | |||
Payment for purchase of noncontrolling interest | (32,041) | ||
Spotify Technology SA | |||
Cash flows from investing activities: | |||
Proceeds to sale of shares | ¥ 82,467 | ||
Olympus Corporation | |||
Cash flows from investing activities: | |||
Proceeds to sale of shares | 80,357 | ||
Game Show Network LLC | |||
Cash flows from financing activities: | |||
Payment for purchase of noncontrolling interest | ¥ (39,894) | ||
Sony Financial Holdings Inc | |||
Cash flows from financing activities: | |||
Proceeds from issuance of short-term borrowings in connection with payment for purchase of noncontrolling interest in Sony Financial Holdings Inc. | 396,500 | ||
Payments of short-term borrowings in connection with payment for purchase of noncontrolling interest in Sony Financial Holdings Inc. | (396,500) | ||
Payment for purchase of noncontrolling interest | ¥ (396,698) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - JPY (¥) ¥ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common stock | Additional paid-in capital | Retained earnings | Retained earningsCumulative Effect, Period of Adoption, Adjustment [Member] | Accumulated other comprehensive income | Treasury stock, at cost | Sony Group Corporation's stockholders' equity | Sony Group Corporation's stockholders' equityCumulative Effect, Period of Adoption, Adjustment [Member] | Noncontrolling interests | Noncontrolling interestsCumulative Effect, Period of Adoption, Adjustment [Member] |
Beginning Balance at Mar. 31, 2018 | ¥ 3,647,157 | ¥ 865,678 | ¥ 1,282,577 | ¥ 1,440,387 | ¥ (616,746) | ¥ (4,530) | ¥ 2,967,366 | ¥ 679,791 | ||||
Cumulative effect of newly adopted ASUs | (2,118) | 7,976 | (15,526) | (7,550) | 5,432 | |||||||
Issuance of new shares | 862 | 431 | 431 | 862 | ||||||||
Exercise of stock acquisition rights | 16,348 | 8,174 | 8,174 | 16,348 | ||||||||
Conversion of convertible bonds | 16 | 8 | 8 | 16 | ||||||||
Stock-based compensation | 1,159 | 1,159 | 1,159 | |||||||||
Comprehensive income: | ||||||||||||
Net income | 966,550 | 916,271 | 916,271 | 50,279 | ||||||||
Other comprehensive income, net of tax - | ||||||||||||
Unrealized gains on securities | 33,285 | 24,370 | 24,370 | 8,915 | ||||||||
Unrealized gains on derivative instruments | 1,223 | 1,223 | 1,223 | |||||||||
Pension liability adjustment | (13,960) | (14,013) | (14,013) | 53 | ||||||||
Foreign currency translation adjustments | 8,444 | 10,022 | 10,022 | (1,578) | ||||||||
Total comprehensive income | 995,542 | 937,873 | 57,669 | |||||||||
Stock issue costs, net of tax | (147) | (147) | (147) | |||||||||
Dividends declared | (73,009) | (44,048) | (44,048) | (28,961) | ||||||||
Purchase of treasury stock | (100,177) | (100,177) | (100,177) | |||||||||
Reissuance of treasury stock | 4 | 1 | 3 | 4 | ||||||||
Transactions with noncontrolling interests shareholders and other | (48,947) | (25,329) | (25,329) | (23,618) | ||||||||
Ending Balance at Mar. 31, 2019 | 4,436,690 | ¥ (7,472) | 874,291 | 1,266,874 | 2,320,586 | ¥ (7,472) | (610,670) | (104,704) | 3,746,377 | ¥ (7,472) | 690,313 | |
Issuance of new shares | 1,058 | 529 | 529 | 1,058 | ||||||||
Exercise of stock acquisition rights | 10,359 | 5,179 | 5,180 | 10,359 | ||||||||
Conversion of convertible bonds | 430 | 215 | 215 | 430 | ||||||||
Stock-based compensation | 1,980 | 1,980 | 1,980 | |||||||||
Comprehensive income: | ||||||||||||
Net income | 622,260 | 582,191 | 582,191 | 40,069 | ||||||||
Other comprehensive income, net of tax - | ||||||||||||
Unrealized gains on securities | 40,390 | 26,156 | 26,156 | 14,234 | ||||||||
Unrealized gains on derivative instruments | 1,267 | 1,267 | 1,267 | |||||||||
Pension liability adjustment | 74,971 | 74,937 | 74,937 | 34 | ||||||||
Foreign currency translation adjustments | (75,888) | (74,643) | (74,643) | (1,245) | ||||||||
Debt valuation adjustments | 3,032 | 1,973 | 1,973 | 1,059 | ||||||||
Total comprehensive income | 666,032 | 611,881 | 54,151 | |||||||||
Stock issue costs, net of tax | (80) | (80) | (80) | |||||||||
Dividends declared | (80,996) | (55,111) | (55,111) | (25,885) | ||||||||
Purchase of treasury stock | (200,211) | (200,211) | (200,211) | |||||||||
Reissuance of treasury stock | 2 | 0 | 2 | 2 | ||||||||
Cancellation of treasury stock | (1,072) | (71,338) | 72,410 | |||||||||
Transactions with noncontrolling interests shareholders and other | (38,257) | 16,093 | 16,093 | (54,350) | ||||||||
Ending Balance at Mar. 31, 2020 | 4,789,535 | ¥ (5,055) | 880,214 | 1,289,719 | 2,768,856 | ¥ (3,669) | (580,980) | (232,503) | 4,125,306 | ¥ (3,669) | 664,229 | ¥ (1,386) |
Exercise of stock acquisition rights | 16,985 | (354) | (735) | 18,074 | 16,985 | |||||||
Conversion of convertible bonds | 78,342 | (11,060) | 89,402 | 78,342 | ||||||||
Stock-based compensation | 1,577 | 1,577 | 1,577 | |||||||||
Comprehensive income: | ||||||||||||
Net income | 1,191,375 | 1,171,776 | 1,171,776 | 19,599 | ||||||||
Other comprehensive income, net of tax - | ||||||||||||
Unrealized gains on securities | (102,492) | (90,521) | (90,521) | (11,971) | ||||||||
Unrealized gains on derivative instruments | 1,513 | 1,513 | 1,513 | |||||||||
Pension liability adjustment | 12,965 | 12,962 | 12,962 | 3 | ||||||||
Foreign currency translation adjustments | 106,826 | 105,643 | 105,643 | 1,183 | ||||||||
Debt valuation adjustments | (3,120) | (2,537) | (2,537) | (583) | ||||||||
Total comprehensive income | 1,207,067 | 1,198,836 | 8,231 | |||||||||
Dividends declared | (81,012) | (68,016) | (68,016) | (12,996) | ||||||||
Purchase of treasury stock | (366) | (366) | (366) | |||||||||
Reissuance of treasury stock | 1,519 | 354 | 1,165 | 1,519 | ||||||||
Transactions with noncontrolling interests shareholders and other | (387,116) | 195,425 | 29,900 | 225,325 | (612,441) | |||||||
Ending Balance at Mar. 31, 2021 | ¥ 5,621,476 | ¥ 880,214 | ¥ 1,486,721 | ¥ 3,857,152 | ¥ (524,020) | ¥ (124,228) | ¥ 5,575,839 | ¥ 45,637 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - ¥ / shares | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends declared, per share | ¥ 55 | ¥ 45 | ¥ 35 |
Nature of operations
Nature of operations | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of operations | 1. Nature of operations Sony Corporation changed its name to “Sony Group Corporation”, effective as of April 1, 2021. Sony Group Corporation and its consolidated subsidiaries (hereinafter collectively referred to as “Sony” or “Sony Group”) are engaged in the development, design, production, manufacture, offer and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets such as network services, home gaming consoles and software, televisions, audio and video recorders and players, still and video cameras, smartphones, and image sensors. Sony’s primary manufacturing facilities are located in Asia including Japan. Sony also utilizes third-party contract manufacturers for certain products. Sony’s products and services are marketed throughout the world by sales subsidiaries and unaffiliated distributors as well as direct sales and offers via the internet. Sony is engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as production and distribution of animation titles, including game applications based on the animation titles. Sony is also engaged in the production, acquisition and distribution of motion pictures and television programming and the operation of television and digital networks. Further, Sony is also engaged in various financial services businesses, including life and non-life |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 2. Summary of significant accounting policies The accompanying consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform with U.S. GAAP. These adjustments were not recorded in the statutory books and records as Sony Group Corporation and its subsidiaries in Japan maintain their records and prepare their statutory financial statements in accordance with accounting principles generally accepted in Japan, while its foreign subsidiaries maintain their records and prepare their financial statements in conformity with accounting principles generally accepted in the countries of their domicile. (1) Significant accounting policies Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of Sony Group Corporation and its majority-owned subsidiary companies, general partnerships and other entities in which Sony has a controlling interest, and variable interest entities (“VIEs”) for which Sony is the primary beneficiary. All intercompany transactions and accounts are eliminated. Investments in business entities in which Sony does not have control, but has the ability to exercise significant influence over operating and financial policies, generally through 20-50% 3-5% On occasion, a consolidated subsidiary or an affiliated company accounted for by the equity method may issue its shares to third parties in either a public or private offering or upon conversion of convertible debt to common stock at amounts per share in excess of or less than Sony’s average per share carrying value. With respect to such transactions, the resulting gains or losses arising from the change in ownership interest are recorded in earnings within the fiscal year in which the change in interest transactions occurs. Gains or losses that result from a loss of a controlling financial interest in a subsidiary are recorded in earnings along with fair value remeasurement gains or losses on any retained investment in the entity, while a change in interest in a consolidated subsidiary that does not result in a change in control is accounted for as a capital transaction and no gains or losses are recorded in earnings. The excess of the cost over the underlying net equity of investments in consolidated subsidiaries and affiliated companies accounted for on an equity basis is allocated to identifiable tangible and intangible assets and liabilities based on fair values at the date of acquisition. The unassigned residual value of the excess of the cost over Sony’s underlying net equity is recognized as goodwill as a component of the investment balance. Use of estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining the valuation of investment securities, valuation of inventories, fair values of long-lived assets, fair values of goodwill and other intangible assets, fair values of assets and liabilities assumed in business combinations, product warranty liability, pension and severance plans, valuation of deferred tax assets, uncertain tax positions, film costs, and insurance related liabilities. Actual results could significantly differ from those estimates. The timing and extent to which the spread of COVID-19 Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at appropriate fiscal year end exchange rates and all income and expense accounts are translated at exchange rates that approximate those rates prevailing at the time of the transactions. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income. Upon remeasurement of a previously held equity interest in accordance with the accounting guidance for business combinations achieved in stages, accumulated translation adjustments, if any, are included in earnings. Monetary assets and liabilities denominated in foreign currencies are translated at appropriate fiscal year end exchange rates and the resulting translation gains or losses are recognized into income. Cash, cash equivalents and restricted cash - Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. Sony includes restricted cash within cash and cash equivalents in the statement of cash flows. Marketable debt and equity securities - Debt securities designated as available-for-sale held-to-maturity available-for-sale held-to-maturity Debt securities designated as available-for-sale The assessment on the risk of credit losses for debt securities designated as held-to-maturity Equity securities that do not have readily determinable fair values - Equity securities that do not have readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. If indicators for impairment are present for equity securities that do not have readily determinable fair values, Sony evaluates whether any such equity security is impaired. If any such security is judged to be impaired, Sony recognizes the impairment of the investment and the carrying value is adjusted to its fair value. Determination of impairment is based on the consideration of several factors, including operating results, business plans and estimated future cash flows. Fair value is determined through the use of various methodologies such as discounted cash flows, valuation of recent financings and comparable valuations of similar companies. Allowance for credit losses - Sony estimates expected credit losses and recognizes loss allowances for specific financial assets. The loss allowance for not e The loss allowance for securities investments and other is primarily recognized for debt securities classified as available-for-sale held-to-maturity past-due Sony also writes off the gross carrying amount of the financial assets when it cannot reasonably expect to recover all or part of the assets. For the loss allowance for debt securities classified as available-for-sale held-to-maturity, Marketable debt and equity securities” Inventories - Inventories in the Game & Network Services (“G&NS”), Music, Pictures, Electronics Products & Solutions (“EP&S”) and Imaging & Sensing Solutions (“I&SS”) segments are valued at cost, not in excess of the net realizable value – i.e., estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal, cost being determined on the “average cost” basis. Other receivables - Other receivables include receivables which relate to arrangements with certain component manufacturers whereby Sony procures goods, including product components, for these component manufacturers and is reimbursed for the related purchases. No revenue or profit is recognized on these transfers. Sony will repurchase the inventory at a later date from the component manufacturers as either finished goods inventory or as partially assembled product. Film costs - Film costs, including direct production costs, production overhead and acquisition costs, are stated at the lower of unamortized cost or estimated fair value and classified as noncurrent assets. Film costs of content predominantly monetized individually are amortized, and the estimated liabilities for residuals and participations are accrued using an individual-film-forecast method based on the ratio of current period actual revenues to the estimated remaining total revenues. Film costs also include broadcasting rights, which are recognized when the license period begins and the program is available for use and consist of acquired programming to be aired on Sony’s worldwide channel network. Film costs of content predominantly monetized with other content, including broadcasting rights, are amortized based on estimated usage or on a straight-line basis over the useful life, as appropriate, although broadcasting rights licensed under multi-year live-event sports programming agreements are generally amortized based on the ratio of the current period’s actual advertising revenue and an allocation of subscription fee revenue to the estimated total remaining attributable revenues. Estimates used in calculating the fair value of film costs are based upon assumptions about future demand and market conditions and are reviewed on a periodic basis. Content produced by Television Productions and Motion Pictures in the Pictures segment is predominantly monetized individually. Substantially all content within Media Networks is predominantly monetized with other content. Property, plant and equipment and depreciation - Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method. Useful lives for depreciation range from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment. Significant renewals and additions are capitalized at cost. Maintenance and repairs, and minor renewals and betterments are charged to income as incurred. Leases - When entering into a contract, Sony determines whether an arrangement contains a lease at its inception. An arrangement contains a lease if it conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease right-of-use right-of-use Right-of-use Right-of-use Right-of-use non-lease right-of-use As of April 1, 2019, Sony adopted Accounting Standards Update (“ASU”) 2016-02, which amends leasing guidance, on a modified retrospective basis with no restatement of comparative periods. Prior to the adoption of ASU 2016-02 on April 1, 2019, right-of-use assets and lease liabilities for operating leases were not recognized in Sony’s consolidated balance sheets. Goodwill and other intangible assets - Goodwill and indefinite lived intangible assets are tested annually for impairment during the fourth quarter of the fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. Such an event or change in circumstances would include unfavorable variances from established business plans, significant changes in forecasted results or volatility inherent to external markets and industries, which are periodically reviewed by Sony’s management. In the fourth quarter of the fiscal year ended March 31, 2021, Sony elected not to perform an optional qualitative assessment of goodwill and instead proceeded directly to a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. Reporting units are Sony’s operating segments or one level below the operating segments. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the total amount of goodwill allocated to the reporting unit. Indefinite lived intangible assets are tested for impairment by comparing the fair value of the intangible asset with its carrying value, and if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of a reporting unit or indefinite lived intangible asset is generally determined using a discounted cash flow analysis. This approach uses significant estimates and assumptions, including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates, earnings multiples, the determination of appropriate comparable entities and the determination of whether a premium or discount should be applied to comparables. Consideration is also given to Sony’s market capitalization in relation to the sum of the calculated fair values of the reporting units, including reporting units with no goodwill, and taking into account corporate level assets and liabilities not assigned to individual reporting units as well as a reasonable control premium. The assumptions used for projected future cash flows and the timing of such cash flows are based on the forecast and mid-range e When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Management believes that the assumptions used to estimate the fair value in the goodwill impairment tests are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. Intangible assets with finite useful lives mainly consist of patent rights, know-how, internal-use know-how, internal-use Capitalized software - The costs related to establishing the technological feasibility of software to be sold, leased or otherwise marketed are expensed as incurred as a part of research and development in cost of sales. Costs that are incurred to produce the finished product after technological feasibility is established are capitalized and amortized to cost of sales over the estimated economic life, which is generally three years. The technological feasibility of game software is established when the product master is completed. Consideration to capitalize game software development costs before this point is limited to the development costs of games for which technological feasibility can be proven at an earlier stage. At each balance sheet date, Sony performs reviews to ensure that unamortized capitalized software costs remain recoverable from future profits of the related software products. The costs incurred for internal-use Deferred insurance acquisition costs - Costs that vary with and are directly related to the acquisition or renewal of insurance policies are deferred as long as they are recoverable. The deferred insurance acquisition costs include such items as commissions, medical examination costs and inspection report fees, and are subject to recoverability testing at least annually to ensure that the capitalized amounts do not exceed the present value of anticipated gross profits or premiums less benefits and maintenance expenses, as applicable. The deferred insurance acquisition costs for traditional life insurance contracts are amortized over the premium-paying period of the related insurance policies using assumptions consistent with those used in computing policy reserves. The deferred insurance acquisition costs for non-traditional Product warranty - Sony provides for the estimated cost of product warranties at the time revenue is recognized. The product warranty is calculated based upon product sales, estimated probability of failure and estimated cost per claim. The variables used in the calculation of the provision are reviewed on a periodic basis. Future insurance policy benefits - Liabilities for future insurance policy benefits are primarily comprised of the present value of estimated future payments to policyholders. These liabilities are computed by the net level premium method based upon the assumptions as to future investment yield, morbidity, mortality, withdrawals and other factors. These assumptions are reviewed on a periodic basis. Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. As discussed below in “ Fair value measurement Policyholders’ account in the life insurance business - Liabilities for policyholders’ account in the life insurance business represent the contract value that has accrued to the benefit of the policyholders as of the balance sheet date. This liability is generally equal to the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balances. Liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. As discussed below in “ Fair value measurement Impairment of long-lived assets - Sony reviews the recoverability of the carrying value of its long-lived assets held and used, other than goodwill and intangible assets with indefinite lives, and assets to be disposed of, whenever events or changes in circumstances indicate that the individual carrying amount of an asset or asset group may not be recoverable. Long-lived assets to be held and used are reviewed for impairment by comparing the carrying value of the asset or asset group with their estimated undiscounted future cash flows. If the cash flows are determined to be less than the carrying value of the asset or asset group, an impairment loss would be recognized during the period for the amount by which the carrying value of the asset or asset group exceeds estimated fair value. Long-lived assets that are to be disposed of other than by sale are considered held and used until they are disposed of. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less cost to sell and are not depreciated. Fair value is determined using the present value of estimated net cash flows or comparable market values. This approach uses significant estimates and assumptions including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates applied to determine terminal values, determination of appropriate market comparables and the determination of whether a premium or discount should be applied to comparables. Management believes that the estimates of future cash flows and fair values are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. Fair value measurement - Sony measures fair value as an exit price, or the amount that would be received to sell an asset or paid to transfer a liability elected the fair value option in the banking business for certain foreign securities. The election was made to mitigate accounting mismatches related to fluctuations of foreign exchange rates by allowing the gains and losses on the translation of these securities to be included in current earnings. Sony has also elected the fair value option for certain future insurance policy benefits and policyholders’ account in the life insurance business which are not normally measured at fair value. The election was made to mitigate accounting mismatches related to the changes in the fair value between liabilities for those future insurance policy benefits and policyholders’ account due to changes in the minimum guarantee risk of contracts of variable annuities with minimum guarantee benefits, and the underlying investment managed for policyholders and derivatives. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the certain subsidiary’s current credit spreads, and are recognized in other comprehensive income, net of tax. The accounting guidance for fair value measurements specifies a hierarchy of inputs to valuation techniques based on the extent to which inputs used in measuring fair value are observable in the market. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect Sony’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Observable market data is used if such data is available without undue cost and effort. Each fair value measurement is reported in one of three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 — Inputs are unadjusted quoted prices for identical assets and liabilities in active markets. Level 2 — Inputs are based on observable inputs other than level 1 prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 — One or more significant inputs are unobservable. When available, Sony uses unadjusted quoted market prices in active markets to measure fair value and classifies such items within level 1. If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency rates and option volatilities. Items valued using internally generated models are classified according to the lowest level input that is significant to the valuation. For certain financial assets and liabilities, Sony determines fair value using third-party information such as indicative quotes from dealers and quantitative input from investment advisors following Sony’s established valuation procedures including validation against internally developed prices. Additionally, Sony considers both counterparty credit risk and Sony’s own creditworthiness in determining fair value. Sony attempts to mitigate credit risk to third parties by entering into netting agreements and actively monitoring the creditworthiness of counterparties and its exposure to credit risk through the use of credit limits and by selecting major international banks and financial institutions as counterparties. Derivative financial instruments - All derivatives are recognized as either assets or liabilities in the consolidated balance sheets at fair value on a gross basis. Changes in the fair value of derivative financial instruments are either recognized periodically in income or stockholders’ equity (as a component of accumulated other comprehensive income), depending on whether the derivative financial instrument qualifies as a hedge and the derivative is being used to hedge changes in fair value or cash flows. The accounting guidance for hybrid financial instruments permits an entity to elect fair value remeasurement for any hybrid financial instrument if the hybrid instrument contains an embedded derivative that would otherwise be required to be bifurcated and accounted for separately under accounting guidance for derivative instruments and hedging activities. The election to measure the hybrid instrument at fair value is made on an instrument-by-instrument In accordance with accounting guidance for derivative instruments and hedging activities, various derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Changes in the fair value of derivatives designated as fair value hedges for recognized assets or liabilities or unrecognized firm commitments are recognized in earnings as offsets to changes in the fair value of the related hedged assets or liabilities. Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the accumulated amount recognized in earnings on a straight-line basis is recognized in other comprehensive income. Derivatives not designated as hedges Changes in the fair value of derivatives that are not designated as hedges are recognized immediately in earnings. Assessment of hedges When applying hedge accounting, Sony formally documents all hedging relationships between the derivatives designated as hedges and the hedged items, as well as its risk management objectives and strategies for undertaking various hedging activities. Sony links all hedges that are designated as fair value or cash flow hedges to specific assets or liabilities on the consolidated balance sheets or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an on-going Stock-based compensation - Sony accounts for stock-based compensation using the fair value-based method and the expense is mainly included in selling, general and administrative expenses. Sony accounts for its stock acquisition rights plan using the fair value measured on the date of grant using the Black-Scholes option-pricing model. The stock acquisition rights plan is recognized, net of an estimated forfeiture rate, over the requisite service period using the accelerated method of amortization for grants with graded vesting. The estimated forfeiture rate is based on Sony’s historical experience in the stock acquisition rights plans where the majority of the vesting terms have b e Revenue recognition - Sony recognizes revenue in an amount that reflects the consideration Sony expects in exchange for satisfying performance obligations to transfer the goods or services promised in contracts with customers. This is in accordance with the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) Sony satisfies a performance obligation. Sony owns a variety of intellectual property throughout its segments and recognizes revenue through the licensing of such intellectual property. Sony has both functional and symbolic intellectual property. The licensing of functional intellectual property grants a customer a right to use Sony’s intellectual property as it exists at a point in time, and Sony satisfies its performance obligation at the point in time when the customer obtains control and is entitled to benefit from the license. The licensing of symbolic intellectual property grants a customer a right to access Sony’s intellectual property over time, and Sony satisfies its performance obligation over the license period as S o Incremental costs of obtaining a contract and costs to fulfill a contract are recognized as assets when Sony expects to recover these costs. The incremental costs of obtaining a contract are those costs that would not have been incurred if the contract had not been obtained. Costs to fulfill a contract are those costs that are directly related to a contract or to an anticipated contract and that generate or enhance resources for Sony to satisfy its performance obligations. Sony applies a practical expedient and recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Performance obligations in contracts for the EP&S and I&SS segments are primarily to deliver various kinds of electronic equipment, instruments and devices to customers. Revenues from these performance obligations are generally recognized when a promised good is delivered to a customer. However, if the sales contract contains a customer acceptance provision, then revenues are recognized when the customer accepts the promised good or when a deemed acceptance occurs by the lapse of time. Revenues are also recognized over time, primarily from the provision of internet broadband network services to subscribers over the subscription period. Revenues are recognized net of anticipated returns and sales incentives. Within the G&NS segment, revenues from hardware, peripherals and software discs are recognized when performance obligations are satisfied by transferring control to the retailer/distributor, net of anticipated returns, sales incentives and cooperative advertising obligations. Revenues from platform licensing to publishers are recognized when physical software discs are delivered. Revenues from digital game content, which is licensed functional intellectual property, are recognized when the digital content is made available for use by the licensee via an online platform, net of anticipated sales incentives and credit card chargebacks. Revenues from digital game content involving multiple performance obligations, such as obligations to make content available on future dates, are allocated to each performance obligation based on the relative standalone selling prices that are observable in the market or Sony’s best estimate. Revenues from subscription fees for digital subscription services are recognized over the subscription period. Within the Music segment, Sony licenses intellectual property that transfer to a customer either a right to use Sony’s intellectual property as it exists at the point in time in which the license is granted, or a right to access Sony’s intellectual property as it exists throughout the license period. Revenues are recognized when the customer has the right to use or access the intellectual property and obtains control of the use or access of that license. Digital revenues include revenues from contracts with digital streaming services typically recognized as a single performance obligation, which is ongoing access to intellectual property in an evolving library of content over the contract term, predicated on: (1) the business practice and contractual ability to remove specific content without a requirement to replace the content and without impact to minimum royalty guarantees and (2) the contracts not containing a specific listing of content subject to the license. For these contracts, revenues are recognized on the basis of sales and usage royalties, except where there is an amount of a minimum royalty guarantee that is not expected to be recouped, or a fixed fee, which is recognized on a straight-line basis over the term of the contract. Revenues from the sale of physical product such as CDs, net of anticipated returns and sales incentives, are recognized when delivery has occurred and the product is available for sale to the public. Within the Pictures segment, revenues from the theatrical exhibition of motion pictures are recognized as the customer exhibits the film. Revenues from the licensing of motion picture and television programming for pay and free television exhibition and other markets are recognized when the product is available for use by the licensee. Revenues for motion picture and television program licensing arrangements involving multiple performance obligations, for example a fee for multiple titles, territories or availability dates, are allocated based on the relative standalone selling price of each performance obligation using Sony’s best estimate based on available information such as market conditions and internal pricing guidelines. Each individual motion picture or television programming product delivered generally represents a separate performance obligation. Licensing revenue associated with certain renewals or extensions of existing agreements for motion pictures and television programming is recognized when the licensee can use and benefit from the content under the renewal or extension. Licensing revenue associated with minimum guarantees for symbolic intellectual property is recognized ratably over the license term. For home entertainment distribution, revenues from the sale of physical product such as DVDs and Blu-ray TM delivery has occurred and the product is available for sale to the public. Revenues from electronic sell-through and video-on-demand p |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | 3. Inventories Inventories are comprised of the following: Yen in millions March 31 2020 2021 Finished products 345,231 398,478 Work in process 149,969 133,560 Raw materials, purchased components and supplies 94,769 105,353 Inventories 589,969 637,391 |
Film costs
Film costs | 12 Months Ended |
Mar. 31, 2021 | |
Other Industries [Abstract] | |
Film costs | 4. Film costs Film costs are comprised of the following: Yen in millions March 31 2020 2021 Motion picture productions: Released 99,482 68,302 Completed and not released 18,776 20,148 In production and development 67,199 141,268 Television productions: Released 186,344 126,236 In production and development 25,093 33,712 Film costs for content predominantly monetized individually 396,894 389,666 Film costs for Media Networks content*1 61,959 69,760 Less: current portion of broadcasting rights included in inventories *2 (31,517 ) — Film costs 427,336 459,426 *1 Substantially all of Sony’s film costs for Media Networks content are broadcasting rights and predominantly monetized with other content. *2 Sony adopted ASU 2019-02 effective as of April 1, 2020, and as a result, broadcasting rights in the Pictures segment and animation film production costs in the Music segment were reclassified from inventories to film costs. The amortization of film costs is recorded in cost of sales. Amortization expense of film costs of content predominantly monetized individually was million yen and million yen during the fiscal years ended March 31, 2020, and 2021, respectively. Amortization expense of film costs of content predominantly monetized as part of a film group was million yen and million yen during the fiscal years ended March 31, 2020, and 2021, respectively. 67% of film costs for completed and not released content is expected to be amortized in the next twelve months. Unamortized film costs for released content and Media Networks content at March 31, 2021 are expected to be amortized as follows: Fiscal year ending March 31 Film costs for released content Film costs for 2022 77 % 42 % 2023 11 % 24 % 2024 3 % 14 % Total 91 % 80 % Approximately 167 billion yen of accrued participation liabilities included in accounts payable, other and accrued expenses are expected to be paid during the next twelve months. |
Investments in affiliated compa
Investments in affiliated companies | 12 Months Ended |
Mar. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in affiliated companies | 5. Investments in affiliated companies The summarized combined financial information that is based on information provided by the equity investees including information for significant equity affiliates and the reconciliation of such information to the consolidated financial statements is shown below: Balance Sheets Yen in millions March 31 2020 2021 Current assets 389,195 435,910 Noncurrent assets 164,852 172,795 Current liabilities 194,219 208,306 Noncurrent liabilities and noncontrolling interests 60,469 61,232 Percentage of ownership in equity investees 20%-50 % 20%-50 % Statements of Income Yen in millions Fiscal year ended March 31 2019 2020 2021 Net revenues 390,457 387,678 414,934 Operating income 53,920 58,431 78,096 Net income attributable to controlling interests 5,539 34,916 46,914 Percentage of ownership in equity investees 20%-50 % 20%-50 % 20%-50 % On November 14, 2018, Sony Corporation of America (“SCA”), Sony’s wholly-owned subsidiary, completed the acquisition of the entirety of the approximately equity interest held by the investor consortium led by the Mubadala Investment Company in DH Publishing, L.P. (“EMI”), which owned and managed EMI Music Publishing. As a result of this acquisition, EMI became a wholly-owned subsidiary of Sony as described in Note 24. The carrying value of Sony’s investment in M3, Inc. (“M3”) exceeded its proportionate share in the underlying net assets of M3 by 65,541 million yen at March 31, 2021. The excess i web-portal. With the exception of M3 as described above, there was no significant difference between Sony’s proportionate share in the underlying net assets of the investees and the carrying value of investments in affiliated companies at March 31, 2020 and 2021. On December 19, 2019, SRE Holdings Corporation (“SRE”), Sony’s consolidated subsidiary, became a publicly listed company on the Tokyo Stock Exchange Mothers market (the “Listing”). Upon the Listing, Sony sold a portion of its shares of SRE, and shares issued by SRE were publicly offered (collectively, the “Sale”). Sony’s ownership of SRE’s total shares, which was 56.3% before the Sale, has decreased to 44.5% after the Sale. As a result, SRE has become an affiliate accounted for under the equity method of Sony. In connection with the Sale, Sony recorded a gain of 17,266 million yen, which consisted of both a remeasurement gain based on fair value for the shares Sony continues to hold after the Sale, and a realized gain for the sold shares, in other operating (income) loss, net in the consolidated statements of income for the fiscal year ended March 31, 2020. On January 29, 2020, Sony Life Insurance Co., Ltd.(“Sony Life”), Sony’s consolidated subsidiary, completed the acquisition of the entirety of 50% equity interest held by AEGON International B.V. in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. (collectively, the “JVs”). As a result of this acquisition, the JVs became consolidated subsidiaries of Sony as described in Note 24. AEGON Sony Life Insurance Co., Ltd. changed its name to “Sony Life With Insurance Co., Ltd.,” as of April 1, 2020, and Sony Life With Insurance Co., Ltd., was subsequently merged with Sony Life as of April 1, 2021. Several affiliated companies are listed on the Tokyo Stock Exchange and Sony’s investments in these companies have an aggregate carrying value and fair value of 150,339 million yen and 1,785,481 million yen, respectively, as of March 31, 2021. The number of affiliated companies accounted for under the equity method as of March 31, 2020 and 2021 were 140 and 135, respectively. Account balances and transactions with affiliated companies accounted for under the equity method are presented below. There are no other material transactions or account balances with any other related parties. Yen in millions March 31 2020 2021 Accounts receivable, trade 12,030 5,814 Other receivables 1,589 3,014 Other current assets 9,757 16,097 Accounts payable, trade 1,497 1,409 Short-term borrowings 31,557 21,367 Finance lease liabilities and other 34,564 48,018 Operating lease liabilities 2,393 2,730 Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales 41,437 35,951 32,372 Purchases 5,584 3,479 3,058 Sony entered into sale and leaseback transactions regarding certain machinery and equipment with SFI Leasing Company, Limited (“SFIL”), a leasing company in Japan, in the fiscal year ended March 31, 2019. SFIL is accounted for under the equity method and is 34% owned by Sony. MITSUI-SOKO Supply Chain Solutions, Inc. is accounted for under the equity method and is 34% owned by Sony as a result of the sale of the logistics business on April 1, 2015. As of the fiscal years ended March 31, 2020 and 2021, account balances with MITSUI-SOKO Supply Chain Solutions, Inc. and its subsidiaries were 1,181 million yen and 1,649 million yen, respectively, which are mainly included in accrued expenses. For the fiscal years ended March 31, 2020 and 2021, transactions were 6,069 million yen and 7,139 million yen, respectively, which are mainly included in general and administrative expenses. Dividends from affiliated companies accounted for under the equity method for the fiscal years ended March 31, 2019, 2020 and 2021 were 4,948 million yen, 4,523 million yen and 6,539 million yen, respectively. |
Transfer of financial assets
Transfer of financial assets | 12 Months Ended |
Mar. 31, 2021 | |
Transfers and Servicing [Abstract] | |
Transfer of financial assets | 6. Transfer of financial assets Sony has established several accounts receivable sales programs mainly within the EP&S segment. Through these programs, Sony can sell receivables to a commercial bank or a special purpose entity associated with a sponsor bank. Total receivables sold during the fiscal years ended March 31, 2019, 2020 and 2021 were 81,947 million yen, 65,214 million yen and 36,664 million yen, respectively. These transactions are accounted for as sales in accordance with the accounting guidance for transfers of financial assets, because Sony has relinquished control of the receivables. Sony includes the sales proceeds from these receivables as cash flows within operating activities in the consolidated statement of cash flows because the receivables are the result of operating activities and are short term in nature. Gains and losses from these transactions were insignificant. Although Sony continues servicing the receivables subsequent to being sold or contributed, no servicing assets or liabilities are recorded as the costs of collection of the sold receivables and the income from servicing such receivables are insignificant. Certain accounts rec e |
Marketable securities and secur
Marketable securities and securities investments | 12 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable securities and securities investments | 7. Marketable securities and securities investments Marketable securities and securities investments, primarily held in the Financial Services segment, include debt securities for which the aggregate cost, gross unrealized gains and losses and fair value pertaining to available-for-sale held-to-maturity Yen in millions March 31, 2020 March 31, 2021 Cost Gross Gross Fair value Cost Gross Gross Fair value Debt securities: Available-for-sale Japanese national government bonds 1,552,036 210,459 (566 ) 1,761,929 2,301,995 159,880 (18,609 ) 2,443,266 Japanese local government bonds 69,132 73 (33 ) 69,172 73,989 94 (20 ) 74,063 Japanese corporate bonds 202,164 19,112 (567 ) 220,709 259,932 13,356 (1,475 ) 271,813 Foreign government bonds 198,777 81,014 (14 ) 279,777 323,557 23,118 (20,819 ) 325,856 Foreign corporate bonds 361,422 507 (2,179 ) 359,750 382,231 1,102 (459 ) 382,874 Securitized products 205,223 0 — 205,223 198,593 — — 198,593 Other 14,398 1,867 (12 ) 16,253 42,469 3,492 (140 ) 45,821 2,603,152 313,032 (3,371 ) 2,912,813 3,582,766 201,042 (41,522 ) 3,742,286 Held-to-maturity Japanese national government bonds 6,204,505 2,098,885 (1,397 ) 8,301,993 6,244,125 1,650,057 (13,390 ) 7,880,792 Japanese local government bonds 2,504 331 — 2,835 1,716 294 — 2,010 Japanese corporate bonds 482,050 61,176 (4,754 ) 538,472 543,870 36,071 (14,919 ) 565,022 Foreign government bonds 723,937 302,297 — 1,026,234 850,740 51,494 (25,277 ) 876,957 Foreign corporate bonds 98 7 — 105 27,392 572 (109 ) 27,855 Securitized products 5,418 — (421 ) 4,997 69,062 65 (4 ) 69,123 7,418,512 2,462,696 (6,572 ) 9,874,636 7,736,905 1,738,553 (53,699 ) 9,421,759 Total 10,021,664 2,775,728 (9,943 ) 12,787,449 11,319,671 1,939,595 (95,221 ) 13,164,045 The following table presents the cost and fair value of debt securities classified as available-for-sale held-to-maturity Yen in millions March 31, 2021 Available-for-sale Held-to-maturity Cost Fair value Cost Fair value Due in one year or less 568,574 568,625 6,680 6,757 Due after one year through five years 419,311 434,470 288,952 307,127 Due after five years through ten years 650,929 725,747 252,897 284,725 Due after ten years 1,943,952 2,013,444 7,188,376 8,823,150 Total 3,582,766 3,742,286 7,736,905 9,421,759 Proceeds from sales of available-for-sale Marketable securities classified as trading securities, which are held primarily in the Financial Services segment, totaled 270,120 million yen and 288,895 million yen as of March 31, 2020 and 2021, respectively. Sony recorded net unrealized gains of 3,610 million yen, net unrealized gains of 1,705 million yen, and net unrealized losses of 1,055 million yen for the fiscal years ended March 31, 2019, 2020 and 2021, respectively. Changes in the fair value of trading securities are primarily recognized in financial services revenue in the consolidated statements of income. The following tables present the gross unrealized losses on, and fair value of, Sony’s investment securities with unrealized losses, aggregated by investment category and the length of time that individual investment securities have been in a continuous unrealized loss position, at March 31, 2020 and 2021. Yen in millions March 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale Japanese national government bonds 51,746 (539 ) 2,032 (27 ) 53,778 (566 ) Japanese local government bonds 25,010 (10 ) 16,340 (23 ) 41,350 (33 ) Japanese corporate bonds 62,118 (548 ) 10,694 (19 ) 72,812 (567 ) Foreign government bonds — — 1,537 (14 ) 1,537 (14 ) Foreign corporate bonds 86,220 (2,133 ) 18,896 (46 ) 105,116 (2,179 ) Securitized products — — — — — — Other 12,055 (12 ) — — 12,055 (12 ) Total 237,149 (3,242 ) 49,499 (129 ) 286,648 (3,371 ) Yen in millions March 31, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale Japanese national government bonds 485,941 (18,418 ) 29,424 (191 ) 515,365 (18,609 ) Japanese local government bonds 20,421 (8 ) 15,256 (12 ) 35,677 (20 ) Japanese corporate bonds 73,238 (925 ) 42,310 (550 ) 115,548 (1,475 ) Foreign government bonds 128,085 (20,800 ) 1,522 (19 ) 129,607 (20,819 ) Foreign corporate bonds 29,651 (302 ) 12,026 (157 ) 41,677 (459 ) Securitized products — — — — — — Other 1,162 (140 ) — — 1,162 (140 ) Total 738,498 (40,593 ) 100,538 (929 ) 839,036 (41,522 ) At March 31, 2021, Sony determined that the decline in value for securities with unrealized losses shown in the above table has not resulted from credit losses. For the fiscal y On April 3, 2018, Spotify was publicly listed for trading on the New York Stock Exchange. Sony owned 5.707% of Spotify’s shares at the time of the public listing. During the fiscal year ended March 31, 2019, Sony sold a portion of the Spotify shares that it owned for aggregate consideration of 82,616 million yen (768 million U.S. dollars) in cash proceeds. The sale of such shares, offset by costs to be paid to Sony’s artists and distributed labels and other transaction costs which directly related to the gains recognized from the sale of Spotify shares, resulted in a net pre-tax The remaining Spotify shares retained as of March 31, 2019 had a gross fair value of 78,947 million yen (711 million U.S. dollars), and the revaluation of such shares resulted in a pre-tax recorded in gain on equity securities, net in the consolidated statement of income for the fiscal year ended March 31, 2019. During the fiscal year ended March 31, 2020, Sony did not sell any portion of the Spotify shares that it owned. The revaluation of the remaining Spotify shares retained as of March 31, 2020 resulted in a pre-tax recorded in loss on equity securities, net in the consolidated statements of income for the fiscal year ended March 31, 2020. During the fiscal year ended March 31, 2021, Sony did not sell any portion of the Spotify shares that it owned. The revaluation of the remaining Spotify shares retained as of March 31, 2021 resulted in a pre-tax recorded in gain on equity securities, net in the consolidated statements of income for the fiscal year ended March 31, 2021. The aggregate carrying amounts of securities that do not have readily determinable fair values as of March 31, 2020 and 2021 totaled 30,120 million yen and 82,744 million yen, respectively. Sony recorded no upward adjustments for securities that do not have readily determinable fair values for the fiscal year ended March 31, 2019, and upward adjustments of million yen for securities that do not have readily determinable fair values for the fiscal years ended March 31, 2020 and 2021, respectively. The upward adjustments primarily resulted from new stock issuances by investees which were deemed to be observable price changes and the adjustments were calculated based on the price of such issuances. Sony recorded downward adjustments (including impairments) of million yen for securities that do not have readily determinable fair values for the fiscal years ended March 31, 2019, 2020 and 2021, respectively. The following table presents the cost of debt securities classified as held-to-maturity securities by a credit quality indicator based on a ratings system, which is primarily a composite of external ratings at March These debt securities held primarily in the Financial Services segment are substantially all composed of investment grade securities. Yen in millions March 31 2020 2021 Debt securities: Held-to-maturity AAA 5,516 69,161 AA 1,193,053 1,465,168 A 6,219,943 6,202,576 BBB — — Other — — Total 7,418,512 7,736,905 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Leases | 8. Leases Sony leases certain communication and commercial equipment, plant, office space, warehouses, employees’ residential facilities and other assets under both finance and operating leases. (1) Lease cost The components of lease cost are as follows: Yen in millions Fiscal year ended March 31 2020 2021 Finance Lease cost Amortization of right-of-use 10,077 7,795 Interest on lease liabilities 1,266 863 Total finance lease cost 11,343 8,658 Operating lease cost 76,863 80,309 Short-term lease cost 20,620 17,805 Variable lease cost 141 108 Sublease income (3,860 ) (2,256 ) Total lease cost 105,107 104,624 (2) Supplemental consolidated balance sheet information related to leases Supplemental consolidated balance sheet information related to leases is as follows: Yen in millions March 31 2020 2021 Finance leases Current portion of long-term debt 9,240 7,382 Long-term debt 29,843 43,684 Total finance lease liabilities 39,083 51,066 March 31 2020 2021 Weighted average remaining lease term Operating leases 8.61 years 8.08 years Finance leases 9.91 years 16.85 years March 31 2020 2021 Weighted average discount rate Operating leases 2.338 % 2.119 % Finance leases 3.147 % 1.776 % (3) Maturities of lease liabilities Maturities of lease liabilities as of March 31, 2021 are as follows: Yen in millions Fiscal year ending March 31 Operating leases Finance leases 2022 79,980 8,309 2023 65,595 6,909 2024 55,127 5,067 2025 36,893 4,306 2026 29,850 2,941 Later fiscal years 130,838 33,869 Total lease payments 398,283 61,401 Less imputed interest 34,662 10,335 Total 363,621 51,066 (4) Other information Other information related to leases is as follows: Yen in millions Fiscal year ended 2020 2021 Cash paid for amounts included in the measurement of lease liabilities Payments for operating leases, included in cash flows from operating activities 71,612 75,907 Payments for finance leases, included in cash flows from financing activities 33,088 9,311 Right-of-use 124,380 46,710 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | 9. Goodwill and other intangible assets Intangible assets other than goodwill acquired during the fiscal year ended March 31, 2021 totaled 187,596 million yen, which are subject to amortization, and are comprised of the following: Intangible assets acquired during the fiscal year Weighted-average Yen in millions Years Patent rights, know-how 14,131 5 Software to be sold, leased or otherwise marketed 17,255 3 Internal-use 87,788 5 Music catalogs 61,341 19 Other 7,081 3 In the fiscal year ended March 31, 2021, additions to internal-use Intangible assets subject to amortization are comprised of the following: Yen in millions March 31, 2020 March 31, 2021 Gross carrying Accumulated Gross carrying Accumulated Patent rights, know-how 173,800 (154,772 ) 180,379 (143,448 ) Customer relationships 16,104 (12,467 ) 18,681 (13,962 ) Trademarks 11,115 (6,079 ) 11,177 (6,394 ) Software to be sold, leased or otherwise marketed 141,111 (110,663 ) 156,820 (124,819 ) Internal-use 594,109 (384,236 ) 660,133 (437,438 ) Music catalogs 612,266 (124,787 ) 708,320 (151,568 ) Artist contracts 41,764 (29,017 ) 42,902 (30,425 ) Television carriage contracts (broadcasting agreements) 53,266 (21,645 ) 55,752 (27,162 ) Other 56,769 (42,631 ) 63,102 (57,001 ) Total 1,700,304 (886,297 ) 1,897,266 (992,217 ) The aggregate amortization expense for intangible assets for the fiscal years ended March 31, 2019, 2020 and 2021 was 109,452 million yen, 110,819 million yen and 118,260 million yen, respectively. The estimated aggregate amortization expense for intangible assets for the next five fiscal years is as follows: Fiscal year ending March 31 Yen in millions 2022 102,884 2023 88,057 2024 66,244 2025 48,197 2026 33,799 Total carrying amount of intangible assets having an indefinite life is comprised of the following: Yen in millions March 31 2020 2021 Trademarks 69,975 70,265 Distribution agreements 18,834 18,834 Other 3,494 2,157 Total 92,303 91,256 The changes in the carrying amount of goodwill by segment for the fiscal years ended March 31, 2020 and 2021 are as follows: G&NS Music Pictures EP&S I&SS Financial All Other Total Balance, March 31, 2019: Goodwill — gross 153,955 403,676 252,262 194,416 46,564 7,931 28,570 1,087,374 Accumulated impairments — (306 ) (106,778 ) (182,462 ) — (706 ) (28,570 ) (318,822 ) Goodwill 153,955 403,370 145,484 11,954 46,564 7,225 — 768,552 Increase (decrease) due to: Acquisitions 17,945 2,956 14,889 364 — 3,609 — 39,763 Sales and dispositions — — (609 ) — — — — (609 ) Impairments — — — — — — — — Translation adjustments (926 ) (13,802 ) (5,410 ) (129 ) (372 ) — — (20,639 ) Other — (1,199 ) (1,980 ) — — — — (3,179 ) Balance, March 31, 2020: Goodwill — gross 170,974 391,631 257,074 194,635 46,192 11,540 28,269 1,100,315 Accumulated impairments — (306 ) (104,700 ) (182,446 ) — (706 ) (28,269 ) (316,427 ) Goodwill 170,974 391,325 152,374 12,189 46,192 10,834 — 783,888 Increase (decrease) due to: Acquisitions — 1,791 13,007 5,156 — — — 19,954 Sales and dispositions — (902 ) (392 ) — — — — (1,294 ) Impairments — — — — — — — — Translation adjustments 1,386 16,609 6,026 267 318 — — 24,606 Other — — 1,467 (1,472 ) — — — (5 ) Balance, March 31, 2021: Goodwill — gross 172,360 409,129 278,991 198,600 46,510 11,540 28,526 1,145,656 Accumulated impairments — (306 ) (106,509 ) (182,460 ) — (706 ) (28,526 ) (318,507 ) Goodwill 172,360 408,823 172,482 16,140 46,510 10,834 — 827,149 |
Insurance-related accounts
Insurance-related accounts | 12 Months Ended |
Mar. 31, 2021 | |
Insurance [Abstract] | |
Insurance-related accounts | 10. Insurance-related accounts Sony’s Financial Services segment subsidiaries in Japan maintain their accounting records as described in Note 2 in accordance with the accounting principles and practices generally accepted in Japan, which vary in some respects from U.S. GAAP. Those differences are mainly that insurance acquisition costs for life and non-life (1) Insurance policies Life insurance policies that subsidiaries in the Financial Services segment underwrite, most of which are categorized as long-duration contracts, mainly consist of whole life, term life and accident and health insurance contracts. The life insurance revenues for the fiscal years ended March 31, 2019, 2020 and 2021 were 910,011 million yen, 1,052,316 million yen and 913,361 million yen, respectively. Property and casualty insurance policies that a subsidiary in the Financial Services segment underwrites are primarily automotive insurance contracts, which are categorized as short-duration contracts. The non-life (2) Deferred insurance acquisition costs Amortization of deferred insurance acquisition costs charged to income for the fiscal years ended March 31, 2019, 2020 and 2021 amounted to 79,906 million yen, 93,734 million yen and 44,738 million yen, respectively. At March 31, 2020 and 2021, the balances of deferred insurance acquisition costs of non-traditional (3) Future insurance policy benefits Liabilities for future insurance policy benefits, except the portion of liabilities for minimum guarantee benefits which is described below, which mainly relate to individual life insurance policies, are established in amounts adequate to meet the estimated future obligations of policies in force. These liabilities, which require significant management judgment and estimates, are computed by the net level premium method based upon the assumptions as to future investment yield, morbidity, mortality, withdrawals and other factors. Future policy benefits are computed using interest rates ranging from 0.5% to 4.5% and are based on factors such as market conditions and expected investment returns. Morbidity, mortality and withdrawal assumptions for all policies are based on either the subsidiary’s own experience or various actuarial tables. Generally these assumptions are locked-in Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. The details regarding the minimum guarantee benefits are presented in (5) below. Sony elected the fair value option for certain of these liabilities for future insurance policy benefits. Refer to Note 13. At March 31, 2020 and 2021, future insurance policy benefits amounted to 6,237,048 million yen and 6,592,763 million yen, respectively. (4) Policyholders’ account in the life insurance business Policyholders’ account in the life insurance business represents an accumulation of account deposits plus credited interest less withdrawals, expenses and mortality charges. Policyholders’ account includes universal life insurance and investment contracts. Universal life insurance includes interest sensitive whole life contracts and variable life insurance contracts. The credited rates associated with interest sensitive whole life contracts range from 1.7% to 2.0%. For variable life insurance contracts, policy values are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. Investment contracts mainly include single payment endowment contracts, single payment educational endowment contracts, individual variable annuities and policies after the start of annuity payments. The credited rates associated with investment contracts, except for individual variable annuities, range from 0.01% to 6.3%. For individual variable annuities, policy values are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. Sony elected the fair value option for certain of these liabilities for policyholders’ account in the life insurance business. Refer to Note 13. At March 31, 2020 and 2021, policyholders’ account in the life insurance business is comprised of the following: Yen in millions March 31 2020 2021 Universal life insurance 2,611,577 3,067,791 Investment contracts 885,690 1,103,785 Other 145,004 159,489 Total 3,642,271 4,331,065 (5) Minimum guarantee benefit for variable annuities and variable life insurance contracts Regarding variable annuities and variable life insurance contracts, minimum guarantee benefits (minimum death benefit, minimum accumulation benefit, etc.) are provided, and Sony bears the risk of fulfilling the minimum guarantee benefits prescribed in the contracts to policyholders. The fair value option is applied to the portion of the liability for variable annuity contracts with minimum guarantee benefits. Refer to Note 13. Excluding the portion of the liability measured at fair value, the liability for the minimum guarantee benefit is calculated based on the ratio of the present value of expected total excess payments divided by the present value of expected total assessments over the life of the contract. Mortality rates, lapse rates, discount rates and investment yield are used as significant assumptions for this calculation. The policyholders’ account value, net amount at risk, liability for the minimum guarantee benefit, and average attained age at March 31, 2020 and 2021 are as follows. Yen in millions March 31, 2020 Variable annuities Variable life Total Policyholders’ account value 464,093 1,096,935 1,561,028 Net amount at risk 71,685 4,564,214 4,635,899 Liability for minimum guarantee benefit 64,045 79,860 143,905 Age March 31 2020 Variable annuities Variable life Average attained age 60 45 Yen in millions March 31, 2021 Variable annuities Variable life Total Policyholders’ account value 490,152 1,486,001 1,976,153 Net amount at risk 50,861 5,074,637 5,125,498 Liability for minimum guarantee benefit 42,309 58,246 100,555 Age March 31 2021 Variable annuities Variable life Average attained age 61 45 |
Short-term borrowings and long-
Short-term borrowings and long-term debt | 12 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Short-term borrowings and long-term debt | 11. Short-term borrowings and long-term debt Short-term borrowings are comprised of the following: Yen in millions March 31 2020 2021 Unsecured loans: with a weighted-average interest rate of 0.86% 91,725 with a weighted-average interest rate of 0.77% 58,659 Repurchase agreement: with a weighted-average interest rate of 0.93% 567,194 with a weighted-average interest rate of 0.06% 917,792 Call money: with a weighted-average interest rate of 0.13% 151,257 with a weighted-average interest rate of -0.03% 211,417 810,176 1,187,868 At March 31, 2021, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 787,977 million yen as collateral for 917,792 million yen of short-term repurchase agreements. The repurchase agreement provides for net settlement upon a termination event. At March 31, 2021, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 68,863 million yen as collateral for 59,500 million yen of secured call money. In addition to the above, at March 31, 2021, certain subsidiaries in the Financial Services segment entered into securities-for-securities lending transactions, pursuant to which they pledged securities investments with a value of million yen as collateral and received marketable securities with a value of million yen as collateral. The amount of this received collateral was recorded in other current liabilities of the consolidated balance sheets for the debt of these transactions. The collateral received is permitted to be sold or repledged as collateral, but was not sold or pledged as of March 31, 2021. Furthermore, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with an aggregate book value of Long-term debt is comprised of the following: Yen in millions March 31 2020 2021 Unsecured loans, representing obligations principally to banks: Due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum 17,880 Due 2021 to 2030, with interest rates ranging from 0.01 % to 5.10 % per annum 238,196 Unsecured 0.23% bonds, due 2021 89,894 89,969 Unsecured 0.11% bonds, due 2022 10,000 10,000 Unsecured 1.41% bonds, due 2022 10,000 10,000 Unsecured 0.28% bonds, due 2023 15,000 15,000 Unsecured 0.13% bonds, due 2024 29,886 29,911 Unsecured 0.15% bonds, due 2024 9,971 Unsecured 0.22% bonds, due 2025 10,000 10,000 Unsecured 0.18% bonds, due 2026 10,000 10,000 Unsecured 0.20% bonds, due 2026 19,943 Unsecured 0.42% bonds, due 2026 24,923 24,935 Unsecured 0.30% bonds, due 2029 59,738 59,760 Unsecured zero coupon convertible bonds, due 2022: Conversion price 4,996.0 yen per common share 119,531 Conversion price 4,982.5 yen per common share 41,189 Secured 0.00% loans, due 2022 to 2023 201,205 Secured 0.00% loans, due 2021 to 2026 240,019 Finance lease liabilities and other: Due 2020 to 2050, with interest rates ranging from 0.01% to 12.59% per annum 56,350 Due 2021 to 2051, with interest rates ranging from 0.01% to 5.45% per annum 85,564 Guarantee deposits received 10,366 10,536 664,773 904,993 Less — Portion due within one year 29,807 131,699 634,966 773,294 At March 31, 2021, certain subsidiaries in the Financial Services segment pledged marketable securities and securities investments with a book value of 54,624 million yen and housing loans with a book value of 562,731 million yen as collateral for a 240,000 million yen long-term secured loan. On July 21, 2015, Sony issued 120,000 million yen of 130% callable unsecured zero coupon convertible bonds with stock acquisition rights due 2022 (the “Zero Coupon Convertible Bonds”). The bondholders are entitled to stock acquisition rights effective from September 1, 2015 to events yen per common share per fiscal year. The conversion price has been adjusted to yen per common share since May 10, 2021 because the payment of the total annual dividend per common share for the fiscal year ended March 31, 2021 was yen, which is in excess of yen. If each of the closing sales prices per share of Sony Group Corporation’s common stock on the Tokyo Stock Exchange for 20 consecutive trading days is or more of the conversion price of the Zero Coupon Convertible Bonds applicable on those trading days, subject to a public announcement of specified information within 15 days from the last day of those trading days Sony was not required to bifurcate any of the embedded features contained in the Zero Coupon Convertible Bonds for accounting Sony borrowed 322.5 billion yen in July 2020, and 74.0 billion yen in October 2020 from a Japanese private bank, in order to procure the funds necessary to acquire the common shares and the related stock acquisition rights not held by Sony of Sony Financial Holdings Inc. (“SFH”), a consolidated subsidiary of Sony, with the aim of making SFH a wholly-owned subsidiary of Sony. Sony fully repaid the outstanding balance of 396.5 billion yen by the end of March 2021. In July 2020, in order to enhance liquidity, Sony executed an approximate 2 billion U.S. dollar bank loan from a group of lenders with eight ten maturity terms in connection with Sony’s November 2018 acquisition of the remaining approximately equity interest in DH Publishing, L.P., which owns EMI Music Publishing. This bank loan utilizes the Japan Bank for International Cooperation (“JBIC”) Facility, which was established to facilitate overseas mergers and acquisitions by Japanese companies. Approximately There are no significant adverse debt covenants or cross-default provisions related to the other short-term borrowings and long-term debt. Aggregate amounts of annual maturities of long-term debt are as follows: Fiscal year ending March 31 Yen in millions 2022 131,699 2023 106,626 2024 95,016 2025 188,572 2026 26,867 Later fiscal years 356,213 Total 904,993 At March 31, 2021, Sony had unused committed lines of credit amounting to 580,453 million yen and can generally borrow up to 180 days from the banks with whom Sony has committed line contracts. Furthermore, at March 31, 2021, Sony had commercial paper programs totaling 1,053,550 million yen. Sony can issue commercial paper for a period generally not in excess of 270 days up to the size of the programs. |
Housing loans and deposits from
Housing loans and deposits from customers in the banking business | 12 Months Ended |
Mar. 31, 2021 | |
Banking And Thrifts [Abstract] | |
Housing loans and deposits from customers in the banking business | 12. Housing loans and deposits from customers in the banking business (1) Housing loans in the banking business Sony acquires and holds certain financial receivables in the normal course of business. The majority of financing receivables held by Sony consists of housing loans in the banking business and no other significant financial receivables exist. A subsidiary in the banking business monitors the credit quality of housing loans based on the credit ratings of debtors which are classified by the financial conditions and the past due status of individual obligors. Past due status is monitored on a daily basis and the credit ratings of debtors is reviewed on a quarterly basis. The allowance for the credit losses is established based on the credit ratings of debtors and the evaluation of collateral. The amount of housing loans in the banking business and the corresponding allowance for credit losses as of March 31, 2020 were 1,927,054 million yen and 780 million yen, respectively, and as of March 31, 2021 were 2,354,546 million yen and 1,004 million yen, respectively. During the fiscal years ended March 31, 2020 and 2021, charge-offs on housing loans in the banking business and changes in the allowance for credit losses were not significant. The balance of housing loans placed on nonaccrual status or past due status were not significant as of March 31, 2020 and 2021. The following table presents the amortized cost of housing loans in the banking business by credit quality indicator based on the credit ratings of debtors as of March 31, 2020. Yen in millions March 31, 2020 Housing loans by the credit ratings of debtors: Normal* 1,923,648 Other than normal 3,406 Total 1,927,054 * Normal is defined as borrowers who do not have particular problems with their financial position. The following table presents the amortized cost of housing loans in the banking business by both credit quality indicator based on the credit ratings of debtors and year of origination as of March 31, 2021. Yen in millions March 31, 2021 Amortized Cost by Origination Year Fiscal year ended March 31 2021 2020 2019 2018 2017 Prior Total Housing loans by the credit ratings of debtors: Normal* 547,133 349,334 252,609 158,546 269,450 772,072 2,349,144 Other than normal 212 136 358 265 218 4,213 5,402 Total assets 547,345 349,470 252,967 158,811 269,668 776,285 2,354,546 * Normal is defined as borrowers who do not have particular problems with their financial position. (2) Deposits from customers in the banking business All deposits from customers in the banking business within the Financial Services segment are interest bearing deposits. At March 31, 2020 and 2021, the balances of time deposits and thrift saving deposits issued in amounts of 10 million yen or more were million yen and million yen, respectively. These amounts have been classified as current liabilities mainly due to the ability of the customers to make withdrawals prior to maturity. At March 31, 2021, aggregate amounts of annual maturities of time deposits and thrift saving deposits with a remaining term of more than one year are as follows: Fiscal year ending March 31 Yen in millions 2023 36,586 2024 19,643 2025 3,135 2026 3,159 2027 400 Later fiscal years 28,805 Total 91,728 |
Fair value measurements
Fair value measurements | 12 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | 13. Fair value measurements As discussed in Note 2, assets and liabilities subject to the accounting guidance for fair value measurements held by Sony are classified and accounted for as described below. (1) Assets and liabilities that are measured at fair value on a recurring basis The following section describes the valuation techniques used by Sony to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Debt securities, equity securities, and other investments Where quoted prices are available in an active market, securities are classified in level 1 of the fair value hierarchy. Level 1 securities include exchange-traded equities. If quoted market prices are not available for the specific security or the market is inactive, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows and mainly classified in level 2 of the hierarchy. Level 2 securities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments, such as the majority of government bonds and corporate bonds. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within level 3 of the fair value hierarchy. Level 3 securities primarily include certain securitized products, certain hybrid financial instruments, certain private equity investments, and certain domestic and foreign corporate bonds not classified within level 1 or level 2. Derivatives Exchange-traded derivatives valued using quoted prices are classified within level 1 of the fair value hierarchy. However, few classes of derivative contracts are listed on an exchange; thus, the majority of Sony’s derivative positions are valued using internally developed models that use as their basis readily observable market parameters – i.e., parameters that are actively quoted and can be validated to external sources, including industry pricing services. Depending on the types and contractual terms of derivatives, fair value can be modeled using a series of techniques, such as the Black-Scholes option pricing model, which are consistently applied. Where derivative products have been established for some time, Sony uses models that are widely accepted in the financial services industry. These models reflect the contractual terms of the derivatives, including the period to maturity, and market-based parameters such as interest rates, volatility, and the credit rating of the counterparty. Further, many of these models do not contain a high level of subjectivity as the techniques used in the models do not require significant judgment, and inputs to the model are readily observable from actively quoted markets. Such instruments are generally classified within level 2 of the fair value hierarchy. In determining the fair value of Sony’s interest rate swap derivatives, Sony uses the present value of expected cash flows based on market observable interest rate yield curves commensurate with the term of each instrument. For foreign currency derivatives, Sony’s approach is to use forward contract and option valuation models employing market observable inputs, such as spot currency rates, time value and option volatilities. These derivatives are classified within level 2 since Sony primarily uses observable inputs in its valuation of its derivative assets and liabilities. Future insurance policy benefits and policyholders’ account in the life insurance business In determining the fair value of future insurance policy benefits and policyholders’ account in the life insurance business to which Sony applies the fair value option, Sony uses the present value of future expected cash flows based on mortality rates, lapse rates, discount rates, investment yield and various actuarial assumptions. These are classified within level 3 since Sony primarily uses unobservable inputs in its valuation. In determining the fair value of liability for the minimum guarantee benefits of variable annuities, Sony uses mortality rates (0.004%~44.865%, weighted average 0.896%), lapse rates (1.000%~7.500%, weighted average 4.312%), and discount rates (-0.046%~3.379%, as significant unobservable inputs. The weighted average rates of mortality and lapse are calculated by weighting the balance of the asset portfolio related to variable annuity contracts to the rates of mortality and lapse at the end of the fiscal year in accordance with the age of each contract, moneyness and other relevant factors. The weighted average discount rates are The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis at March , and are as follows. Yen in millions March 31, 2020 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 24,330 245,790 — 270,120 270,120 — — — Available-for-sale Japanese national government bonds — 1,761,929 — 1,761,929 10,011 1,751,918 — — Japanese local government bonds — 69,172 — 69,172 15,334 53,838 — — Japanese corporate bonds — 220,679 30 220,709 14,774 205,935 — — Foreign government bonds *1 — 279,777 — 279,777 2,690 277,087 — — Foreign corporate bonds *2 — 343,980 15,770 359,750 94,156 265,594 — — Securitized products *3 — 33,383 171,840 205,223 — 205,223 — — Other — 4,152 12,101 16,253 — 16,253 — — Equity securities 950,744 581,642 — 1,532,386 1,434,612 97,774 — — Other investments *4 7,162 816 9,242 17,220 — 17,220 — — Derivative assets *5 1,310 41,073 — 42,383 — — 40,784 1,599 Total assets 983,546 3,582,393 208,983 4,774,922 1,841,697 2,890,842 40,784 1,599 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future Policyholders’ Other Other Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 532,191 532,191 64,045 468,146 — — Derivative liabilities *5 2,077 33,789 — 35,866 — — 16,814 19,052 Total liabilities 2,077 33,789 532,191 568,057 64,045 468,146 16,814 19,052 Yen in millions March 31, 2021 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 30,164 258,731 — 288,895 288,895 — — — Available-for-sale Japanese national government bonds — 2,443,266 — 2,443,266 394,295 2,048,971 — — Japanese local government bonds — 74,063 — 74,063 29,624 44,439 — — Japanese corporate bonds — 264,644 7,169 271,813 24,980 246,833 — — Foreign government bonds *1 — 325,856 — 325,856 — 325,856 — — Foreign corporate bonds *2 — 365,029 17,845 382,874 117,209 265,665 — — Securitized products *3 — 44,104 154,489 198,593 — 198,593 — — Other — 21,466 24,355 45,821 — 45,821 — — Equity securities 1,757,134 704,214 — 2,461,348 2,044,763 416,585 — — Other investments *4 7,544 4,128 9,326 20,998 — 20,998 — — Derivative assets *5 261 28,476 — 28,737 — — 14,412 14,325 Total assets 1,795,103 4,533,977 213,184 6,542,264 2,899,766 3,613,761 14,412 14,325 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future Policyholders’ Other Other Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 536,189 536,189 42,309 493,880 — — Derivative liabilities *5 1,116 39,238 — 40,354 — — 26,086 14,268 Total liabilities 1,116 39,238 536,189 576,543 42,309 493,880 26,086 14,268 *1 7,771 million yen and 15,654 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021. In the consolidated balance sheets, 2,386 million yen are included as marketable securities for the fiscal years ended March 31, 2020 and 5,385 million yen and 15,654 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. *2 188,426 million yen and 228,761 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021, respectively. In the consolidated balance sheets, 34,502 million yen and 52,637 million yen are included as marketable securities and 153,924 million yen and 176,124 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. *3 193,430 million yen and 192,451 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2020 and 2021, respectively, and are included in the consolidated balance sheets as securities investments and other. *4 Other investments include certain hybrid financial instruments and certain private equity investments. *5 Derivative assets and liabilities are recognized and disclosed on a gross basis. *6 Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. 7 Net loss of 12,408 million yen and net gains of 4,645 million yen arising from assets and liabilities for which the fair value option has been elected are included in financial services revenue and financial services expense in the consolidated statements of income for the fiscal years ended March 31, 2020 and 2021, respectively. The changes in fair value of level 3 assets and liabilities for the fiscal years ended March 31, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31, 2020 Assets Liabilities Debt securities Future Available-for-sale Japanese Foreign Securitized Other Other Beginning balance — 22,704 165,083 — 6,918 — Acquisition of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. *1 — — — — — 547,190 Total realized and unrealized gains (losses): Included in earnings (loss) *2 — 311 (18,151 ) — (500 ) 12,500 Included in other comprehensive income (loss) *3 — (73 ) 1 — — 3,032 Purchases and Issuances 30 13,597 40,175 12,101 4,711 5,295 Sales — — — — (9 ) — Settlements — (20,867 ) (12,967 ) — (1,878 ) (4,762 ) Transfers into level 3 *4 — 3,374 — — — — Transfers out of level 3 *5 — (3,276 ) (2,301 ) — — — Ending balance 30 15,770 171,840 12,101 9,242 532,191 Changes in unrealized gains (losses) relating to instruments still held at reporting date: Included in earnings (loss) *2 — (94 ) (16,507 ) — (376 ) 10,273 Yen in millions Fiscal year ended March 31, 2021 Assets Liabilities Debt securities Future Available-for-sale Japanese Foreign Securitized Other Other Beginning balance 30 15,770 171,840 12,101 9,242 532,191 Total realized and unrealized gains (losses): Included in earnings (loss)* 2 — 1,465 14,000 5,703 772 (16,475 ) Included in other comprehensive income (loss)* 3 (461 ) 73 — (11 ) — (3,120 ) Purchases and Issuances 7,600 5,441 — 11,215 28 1,996 Sales — — — — (2 ) — Settlements — (7,835 ) (34,488 ) (4,681 ) (825 ) (17,593 ) Other — (1,613 ) 1,014 28 111 Transfers into level 3* 4 — 4,544 2,123 — — — Ending balance 7,169 17,845 154,489 24,355 9,326 536,189 Changes in unrealized gains (losses) Included in earnings (loss)* 2 — 600 17,419 — (77 ) (29,205 ) Included in other comprehensive income (loss)* 3 (461 ) 14 — (17 ) — (3,120 ) *1 Refer to Note 24. *2 Earning effects are included in financial services revenue and financial services expense in the consolidated statements of income. *3 Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale *4 Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. *5 Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. Level 3 assets include certain securitized products, certain private equity investments, and certain domestic and foreign corporate bonds for which quoted prices are not available in a market and where there is less transparency around inputs. In determining the fair value of such assets, Sony uses third-party information such as indicative quotes from dealers without adjustment. Level 3 liabilities include future insurance policy benefits and policyholders’ account in the life insurance business whose underlying figures are unobservable, and whose fair value is calculated in-house. (2) Assets and liabilities that are measured at fair value on a nonrecurring basis Sony also has assets and liabilities that are required to be remeasured to fair value on a nonrecurring basis when certain circumstances occur. During the fiscal years ended March 31, 2020 and 2021, such remeasurements to fair value related primarily to the following: During the fiscal year ended March 31, 2020 Estimated fair value Amounts included Level 1 Level 2 Level 3 Assets: Remeasurement of retained investment in SRE 15,911 — — 13,347 Long-lived assets impairments — — 8,155 (36,003 ) (22,656 ) During the fiscal year ended March 31, 2021 Estimated fair value Amounts included Level 1 Level 2 Level 3 Assets: Long-lived assets impairments — — 32,033 (25,685 ) (25,685 ) Long-lived assets impairments Sony recorded an impairment loss of 19,172 million yen and 12,714 million yen for the fiscal years ended March 31, 2019 and 2020, respectively, included within the EP&S segment, related to long-lived a Sony recorded an impairment loss of 12,858 million yen for the fiscal year ended March 31, 2019, included within All Other, related to long-lived assets and goodwill in the storage media business asset group. As a result of conducting a strategic review of the business and evolving market trends, Sony reduced the corresponding estimated future cash flows of this business and the estimated ability to recover the entire carrying amount of the long-lived assets and goodwill within the period applicable to the impairment determination, resulting in an impairment charge for the fiscal year ended March 31, 2019. These measurements are classified as level 3 because significant unobservable inputs, such as the condition of the assets or projections of future cash flows, the timing of such cash flows and the discount rate reflecting the risk inherent in future cash flows, were considered in the fair value measurements. For the fiscal year ended March 31, 2019, a discount rate of 8.5% and projected revenue growth rates ranging from (26)% to 24% were used in the fair value measurements related to the long-lived assets for the smartphone business. For the fiscal year ended March 31, 2020, a discount rate of 10.6% and projected revenue growth rates ranging from (10)% to 70% were used in the fair value measurements related to the long-lived assets for the smartphone business. For the fiscal year ended March 31, 2019, a discount rate of 8.9% and projected revenue growth rates ranging from (34)% to 21% were used in the fair value measurements related to the long-lived assets and goodwill for the storage media business. Except as described above, no other impairment losses were individually material for the fiscal year ended March 31, 2020. The other impairment losses were primarily related to the impairment losses in asset groups within Media Networks in the Pictures segment related to a review of the channel portfolio for the fiscal year ended March 31, 2020. There was no individually material impairment loss for the fiscal year ended March 31, 2021. Remeasurement of retained investment in SRE During the fiscal year ended March 31, 2020, Sony sold part of its shares in SRE and remeasured the remaining shares to fair value. This measurement is classified as level 1 because a quoted price for the shares of SRE is available on the Tokyo Stock Exchange. Refer to Note 5. Remeasurement of previously owned equity interest in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. During the fiscal year ended March 31, 2020, Sony remeasured to fair value the previously owned equity interests in AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. (collectively, the “JVs”) in connection with acquisition of the JVs. The measurement is classified as level 3 because significant unobservable inputs, such as projections of future cash flows and market comparables of similar transactions and companies, were considered in the fair value measurements. AEGON Sony Life Insurance Co., Ltd. changed its name to “Sony Life With Insurance Co., Ltd.,” as of April 1, 2020, and Sony Life With Insurance Co., Ltd., was subsequently merged with Sony Life as of April 1, 2021. Refer to Note 24. (3) Financial instruments The estimated fair values by fair value hierarchy level of certain financial instruments that are not reported at fair value are summarized as follows: Yen in millions March 31, 2020 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 2,161,432 — 2,161,432 1,927,054 Total assets — 2,161,432 — 2,161,432 1,927,054 Liabilities: Long-term debt including the current portion — 699,358 — 699,358 664,773 Investment contracts included in policyholders’ account in the life insurance business — 969,464 — 969,464 885,690 Total liabilities — 1,668,822 — 1,668,822 1,550,463 Yen in millions March 31, 2021 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — — 2,559,073 2,559,073 2,354,546 Total assets — — 2,559,073 2,559,073 2,354,546 Liabilities: Long-term debt including the current portion — 911,885 39,989 951,874 904,993 Investment contracts included in policyholders’ account in the life insurance business — 1,159,195 — 1,159,195 1,103,785 Total liabilities — 2,071,080 39,989 2,111,069 2,008,778 The summary excludes cash and cash equivalents, call loans, time deposits, notes and accounts receivable, trade, call money, short-term borrowings, notes and accounts payable, trade and deposits from customers in the banking business because the carrying values of these financial instruments approximated their fair values due to their short-term nature. The summary also excludes held-to-maturity Cash and cash equivalents, call loans and call money are classified in level 1. Time deposits, short-term borrowings, deposits from customers in the banking business are classified in level 2. Held-to-maturity . |
Derivative instruments and hedg
Derivative instruments and hedging activities | 12 Months Ended |
Mar. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative instruments and hedging activities | 14. Derivative instruments and hedging activities Sony has certain financial instruments including financial assets and liabilities acquired in the normal course of business. Such financial instruments are exposed to market risk arising from the changes in foreign currency exchange rates and interest rates. In applying a consistent risk management strategy for the purpose of reducing such risk, Sony uses derivative financial instruments, which include foreign exchange forward contracts, foreign currency option contracts, and interest rate swap agreements (including interest rate and currency swap agreements). Certain other derivative financial instruments are entered into in the Financial Services segment for asset-liability management (“ALM”) purposes. These instruments are executed with creditworthy financial institutions, and virtually all foreign currency contracts are denominated in U.S. dollars, euros and other currencies of major countries. These derivatives generally mature or expire within six months after the balance sheet date. Other than derivatives utilized in the Financial Services segment for ALM, Sony does not use derivative financial instruments for trading or speculative purposes. These derivative transactions utilized for ALM in the Financial Services segment are executed within certain limits in accordance with an internal risk management policy. Derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Both the derivatives designated as fair value hedges and the hedged items are reflected at fair value in the consolidated balance sheets. Changes in the fair value of the derivatives designated as fair value hedges, as well as offsetting changes in the carrying value of the underlying hedged items, are recognized in income. For the fiscal years ended March 31, 2019, 2020 and 2021, there were no amounts excluded from the assessment of hedge effectiveness of fair value hedges. Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges are initially recorded in other comprehensive income (“OCI”) and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the accumulated amount recognized in earnings on a straight-line basis is recognized in OCI. Derivatives not designated as hedges Changes in the fair value of derivatives not designated as hedges are recognized in income. A description of the purpose and classification of the derivative financial instruments held by Sony is as follows: Foreign exchange forward contracts and foreign currency option contracts Foreign exchange forward contracts and purchased and written foreign currency option contracts are utilized primarily to limit the exposure affected by changes in foreign currency exchange rates on cash flows generated or anticipated by Sony’s transactions and accounts receivable and payable denominated in foreign currencies. The majority of written foreign currency option contracts are a part of range forward contract arrangements and expire in the same month with the corresponding purchased foreign currency option contracts. Sony also entered into foreign exchange forward contracts and foreign exchange range forward contracts which effectively fixed the cash flows from certain forecasted purchase and sale transactions denominated in foreign currencies for the fiscal years ended March 31, 2019, 2020 and 2021. Accordingly, these derivatives have been designated as cash flow hedges. Foreign exchange forward contracts and foreign currency option contracts that do not qualify as hedges are marked-to-market Foreign exchange forward contracts, foreign currency option contracts and currency swap agreements held by certain subsidiaries in the Financial Services segment are marked-to-market Interest rate swap agreements (including interest rate and currency swap agreements Interest rate swap agreements are utilized primarily to lower funding costs, to diversify sources of funding and to limit Sony’s exposure associated with underlying borrowings and available-for-sale Interest rate swap agreements entered into in the Financial Services segment are used for reducing the risk arising from the changes in the fair value of fixed rate available-for-sale available-for-sale Certain subsidiaries in the Financial Services segment have interest rate swap agreements as part of their ALM, which are marked-to-market Any other interest rate swap agreements that do not qualify as hedges, which are used for reducing the risk arising from changes of variable rate debt, are marked-to-market Other agreements Certain subsidiaries in the Financial Services segment have equity future contracts, equity swap agreements, bond future contracts, commodity future contracts, interest rate swaption agreements, other currency contracts and hybrid financial instruments as part of their ALM, which are marked-to-market The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows: Derivatives designated as hedging Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2020 2021 Liability derivatives 2020 2021 Interest rate contracts Prepaid expenses and other current assets 9 — Current liabilities: Other 183 286 Interest rate contracts Other assets: Other 27 10,921 Liabilities: Other 8,177 6,064 Foreign exchange contracts Prepaid expenses and other current assets 1,799 8 Current liabilities: Other — 6,000 1,835 10,929 8,360 12,350 Derivatives not designated as Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2020 2021 Liability derivatives 2020 2021 Interest rate contracts Prepaid expenses and other current assets 44 50 Current liabilities: Other 200 408 Interest rate contracts Other assets: Other 1,523 1,817 Liabilities: Other 9,120 8,204 Foreign exchange contracts Prepaid expenses and other current assets 19,655 14,097 Current liabilities: Other 14,580 14,233 Foreign exchange contracts Other assets: Other 49 1,587 Liabilities: Other 1,755 — Equity contracts Prepaid expenses and other current assets 18,886 240 Current liabilities: Other 1,476 5,157 Bond contracts Prepaid expenses and other current assets 306 17 Current liabilities: Other 290 2 Commodity contracts Prepaid expenses and other current assets 85 — Current liabilities: Other 85 0 40,548 17,808 27,506 28,004 Total derivatives 42,383 28,737 35,866 40,354 Presented below are the effects of derivative instruments on the consolidated statements of income and the consolidated statements of comprehensive income for the fiscal years ended March 31, 2019, 2020 and 2021. Derivatives under fair value hedging relationships Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2019 2020 2021 Interest rate contracts Financial services revenue (1,835 ) (3,925 ) (1,189 ) Total (1,835 ) (3,925 ) (1,189 ) Yen in millions Derivatives under cash flow hedging relationships Fiscal year ended March 31 2019 2020 2021 Amounts recognized in unrealized gains (losses) on derivative Interest rate contracts: Components included in — — 10,153 Foreign exchange contracts: Components included in 2,315 1,712 (2,210 ) Components excluded from — 1,087 263 Total 2,315 2,799 8,206 Yen in millions Derivatives under cash flow hedging relationships Affected line item in consolidated statements of income Fiscal year ended March 31 2019 2020 2021 Amounts reclassified from unrealized Interest rate contracts: Components included in Interest — — 285 Foreign exchange contracts: — Components included in Cost of sales (1,093 ) — — Components included in Net sales — 106 (5,382 ) Components excluded from Net sales — (1,087 ) (263 ) Total (1,093 ) (981 ) (5,360 ) Derivatives not designated as Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2019 2020 2021 Interest rate contracts Financial services revenue (3,192 ) 1,190 (9,603 ) Foreign exchange contracts Financial services revenue (8,198 ) 2,473 (10,730 ) Foreign exchange contracts Foreign exchange loss, net (7,437 ) 10,184 (8,454 ) Equity contracts Financial services revenue (7,649 ) 15,438 (85,118 ) Bond contracts Financial services revenue — (2,954 ) 99 Commodity contracts Financial services revenue — 110 4,790 Total (26,476 ) 26,441 (109,016 ) Presented below are the amortized cost of hedged items, which are available-for-sale Derivatives under fair value hedging relationships Yen in millions Balance sheet location of March 31, 2020 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 15,255 — Interest rate contracts Securities investments and other 91,080 — Total 106,335 — Derivatives under fair value hedging relationships Yen in millions Balance sheet location of March 31, 2021 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 30,167 — Interest rate contracts Securities investments and other 74,872 — Total 105,039 — The following table summarizes additional information, including notional amounts, for each type of derivative: Yen in millions March 31, 2020 March 31, 2021 Notional Fair value Notional Fair value Foreign exchange contracts: Foreign exchange forward contracts* 989,966 3,201 1,176,589 (5,420 ) Currency option contracts purchased 473 7 36,234 15 Currency option contracts written 460 (5 ) 36,164 (1,790 ) Currency swap agreements 893,874 (1,006 ) 612,813 490 Other currency contracts* 62,080 2,971 68,663 2,164 Interest rate contracts: Interest rate swap agreements 994,133 (16,019 ) 979,554 (1,969 ) Interest rate swaption agreements 18,700 (58 ) 38,700 (205 ) Equity contracts: Equity future contracts 63,354 (871 ) 129,526 (746 ) Equity swap agreements 103,409 18,281 117,055 (4,171 ) Bond contracts: Bond future contracts 56,546 16 169,441 15 Commodity contracts: Commodity future contracts 1,465 0 2,957 (0 ) * Revision has been made to correct the notional amount of foreign exchange forward contracts and the presentation of fair values of foreign exchange forward contracts and other currency contracts as of March 31, 2020. All derivatives are recognized as either assets or liabilities in the consolidated balance sheets on a gross basis, but certain subsidiaries have entered into master netting agreements or other similar agreements, which are mainly International Swaps and Derivatives Association (ISDA) Master Agreements. An ISDA Master Agreement is an agreement between two counterparties that may have multiple derivative contracts with each other, and such ISDA Master Agreement may provide for the net settlement of all or a specified group of these derivative contracts, through a single payment, in a single currency, in the event of a default on or affecting any one derivative contract, or a termination event affecting all or a specified group of derivative contracts. Yen in millions As of March 31, 2020 Gross amounts Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 38,281 12,614 20,545 5,122 Derivative assets not subject to master netting agreements 4,102 4,102 Total assets 42,383 12,614 20,545 9,224 Derivative liabilities subject to master netting agreements 31,896 7,086 23,873 937 Derivative liabilities not subject to master netting agreements 3,970 3,970 Repurchase, securities lending and similar arrangements 567,194 564,874 — 2,320 Total liabilities 603,060 571,960 23,873 7,227 Yen in millions As of March 31, 2021 Gross amounts Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 15,159 10,666 2,008 2,485 Derivative assets not subject to master netting agreements 13,578 13,578 Securities borrowing and securities lending transactions 326,156 326,156 — Total assets 354,893 336,822 2,008 16,063 Derivative liabilities subject to master netting agreements 38,966 11,052 16,225 11,689 Derivative liabilities not subject to master netting agreements 1,388 1,388 Repurchase, securities lending and similar arrangements 917,792 911,881 — 5,911 Total liabilities 958,146 922,933 16,225 18,988 |
Pension and severance plans
Pension and severance plans | 12 Months Ended |
Mar. 31, 2021 | |
Retirement Benefits [Abstract] | |
Pension and severance plans | 15. Pension and severance plans (1) Defined benefit and severance plans Upon terminating employment, employees of Sony Group Corporation and its subsidiaries in Japan are entitled, under most circumstances, to lump-sum Under the plans, in general, the defined benefits cover 65% of the indemnities under existing regulations to employees. The remaining indemnities are covered by severance payments b lump-sum From April 1, 2012, Sony Group Corporation and substantially all of its subsidiaries in Japan have modified existing defined benefit pension plans such that life annuities will no longer accrue additional service benefits, with those participants instead accruing fixed-term annuities. The defined benefit pension plans were closed to new participants and a defined contribution plan was also introduced. From October 1, 2019, Sony Group Corporation and substantially all of its subsidiaries in Japan have amended their defined benefit pension plans and have implemented defined contribution plans for all employees other than those employees that had retired before the amendments. As a result, accrued pension and severance costs decreased 74,872 million yen and accumulated other comprehensive income increased 81,230 million yen in the consolidated balance sheets as of the fiscal year ended March 31, 2020. In addition, a loss on the pension plan amendment of 6,358 million yen was recorded in other expenses in the consolidated statements of income for the fiscal year ended March 31, 2020. In addition, several of Sony’s foreign subsidiaries have defined benefit pension plans or severance indemnity plans, which cover substantially all of their employees. Under such plans, the related cost of benefits is currently funded or accrued. Benefits awarded under these plans are based primarily on the current rate of pay and length of service. The components of net periodic benefit costs for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Japanese plans: Yen in millions Fiscal year ended March 31 2019 2020 2021 Service cost 23,128 17,948 12,763 Interest cost 7,020 4,162 3,684 Expected return on plan assets (16,695 ) (17,040 ) (10,802 ) Recognized actuarial loss 15,365 12,969 8,852 Amortization of prior service costs (7,864 ) (4,294 ) (343 ) Losses on curtailments and settlements — 6,358 — Net periodic benefit costs 20,954 20,103 14,154 Foreign plans: Yen in millions Fiscal year ended March 31 2019 2020 2021 Service cost 2,780 3,616 2,767 Interest cost 10,083 9,212 6,509 Expected return on plan assets (11,797 ) (10,916 ) (6,395 ) Recognized actuarial loss 2,656 2,606 3,614 Amortization of prior service costs (269 ) 2 1,058 Losses on curtailments and settlements 1,804 68 2,128 Net periodic benefit costs 5,257 4,588 9,681 The changes in the benefit obligation and plan assets as well as the funded status and composition of amounts recognized in the consolidated balance sheets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Change in benefit obligation: Benefit obligation at beginning of the fiscal year 1,034,954 658,863 351,918 359,811 Service cost 17,948 12,763 3,616 2,767 Interest cost 4,162 3,684 9,212 6,509 Plan participants’ contributions — — 487 269 Plan amendments — — 10,210 157 Actuarial (gain) loss (3,330 ) 271 19,776 32,432 Foreign currency exchange rate changes — — (16,919 ) 29,486 Curtailments and settlements (359,205 ) — (4,434 ) (14,587 ) Other 2 43 — — Benefits paid (35,668 ) (35,563 ) (14,055 ) (18,555 ) Benefit obligation at end of the fiscal year 658,863 640,061 359,811 398,289 Change in plan assets: Fair value of plan assets at beginning of the fiscal year 742,204 437,206 274,749 281,110 Actual return on plan assets 2,942 59,536 26,738 (596 ) Foreign currency exchange rate changes — — (14,904 ) 25,433 Employer contribution 7,453 2,333 9,916 38,169 Plan participants’ contributions — — 487 269 Curtailments and settlements (284,333 ) — (3,146 ) (11,927 ) Benefits paid (31,060 ) (22,664 ) (12,730 ) (16,967 ) Fair value of plan assets at end of the fiscal year 437,206 476,411 281,110 315,491 Funded status at end of the fiscal year (221,657 ) (163,650 ) (78,701 ) (82,798 ) Amounts recognized in the consolidated balance sheets consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Noncurrent assets 3,391 5,746 24,777 13,660 Current liabilities — — (4,355 ) (12,364 ) Noncurrent liabilities (225,048 ) (169,396 ) (99,123 ) (84,094 ) Ending balance (221,657 ) (163,650 ) (78,701 ) (82,798 ) Amounts recognized in accumulated other comprehensive income, excluding tax effects, consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Prior service cost (credit) (369 ) (26 ) 10,058 9,350 Net actuarial loss 223,354 163,401 66,326 102,821 Ending balance 222,985 163,375 76,384 112,171 The accumulated benefit obligations for all defined benefit pension plans were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Accumulated benefit obligations 654,209 635,285 354,100 392,375 The accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Accumulated benefit obligations 640,890 621,296 226,080 200,020 Fair value of plan assets 420,497 456,662 130,955 109,468 The projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Projected benefit obligations 645,544 626,057 234,652 205,915 Fair value of plan assets 420,497 456,662 131,546 109,468 Weighted-average assumptions used to determine benefit obligations as of March 31, 2020 and 2021 were as follows: Japanese plans Foreign plans March 31 March 31 2020 2021 2020 2021 Discount rate 0.6 % 0.6 % 2.0 % 1.4 % Interest crediting rate 3.4 3.4 4.8 4.8 Rate of compensation increase * * 2.2 2.5 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Weighted-average assumptions used to determine the net periodic benefit costs for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2019 2020 2021 2019 2020 2021 Discount rate 0.8 % 0.6 % 0.6 % 2.9 % 2.8 % 2.0 % Expected return on plan assets 2.6 2.6 2.5 4.4 4.2 2.3 Interest crediting rate 3.5 3.5 3.4 4.8 4.8 4.8 Rate of compensation increase * * * 2.6 2.3 2.2 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Sony reviews these assumptions for changes in circumstances. The weighted-average rate of compensation increase is calculated based only on the pay-related The mortality rate assumptions are based on life expectancy and death rates for different types of participants. To determine the expected long-term rate of return on pension plan assets, Sony considers the current and expected asset allocations, as well as the historical and expected long-term rates of returns on various categories of plan assets. Sony’s pension investment policy recognizes the expected growth and the variability risk associated with the long-term nature of pension liabilities, the returns and risks of diversification across asset classes, and the correlation a The investment objectives of Sony’s plan assets are designed to generate returns that will enable the plans to meet their future obligations. The precise amount for which these obligations will be settled depends on future events, including the retirement dates and life expectancy of the plans’ participants. The obligations are estimated using actuarial assumptions, based on the current economic environment and other pertinent factors. Sony’s investment strategy balances the requirement to generate returns, using potentially higher yielding assets such as equity securities, with the need to control risk in the portfolio with less volatile assets, such as fixed-income securities. Risks include, among others, inflation, volatility in equity values and changes in interest rates that could negatively impact the funding level of the plans, thereby increasing their dependence on contributions from Sony. To mitigate any potential concentration risk, thorough consideration is given to balancing the portfolio among industry sectors and geographies, taking into account interest rate sensitivity, dependence on economic growth, currency and other factors that affect investment returns. The target allocations as of March 31, 2021, are, as a result of Sony’s asset liability management, 20% of equity securities, 51% of fixed income securities and 29% of other investments for the pension plans of Sony Group Corporation and most of its subsidiaries in Japan, and, on a weighted average basis, 6% of equity securities, 29% of fixed income securities and 65% of other investments for the pension plans of foreign subsidiaries. The fair values of the assets held by Japanese and foreign plans, which are classified in accordance with the fair value hierarchy described in Note 2, are as follows: Japanese plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 24,851 24,851 — — Equity: Equity securities *1 50,646 47,308 3,338 — Fixed income: Government bonds *2 107,478 1,087 106,391 — Corporate bonds *3 71,192 20 71,172 — Asset-backed securities *4 1,090 — 1,090 — Commingled funds *5 58,740 — 58,740 — Commodity funds *6 21,823 — 21,823 — Private equity *7 30,191 — — 30,191 Hedge funds *8 48,410 — — 48,410 Real estate and other *9 22,785 — (2,586 ) 25,371 Total 437,206 73,266 259,968 103,972 Japanese plans Yen in millions Fair value at March 31, 2021 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 53,298 53,298 — — Equity: Equity securities *1 63,927 59,946 3,981 — Fixed income: Government bonds *2 116,687 1,149 115,538 — Corporate bonds *3 30,348 19 30,329 — Asset-backed securities *4 1,029 — 1,029 — Commingled funds *5 89,281 — 89,281 — Commodity funds *6 22,283 — 22,283 — Private equity *7 29,153 — — 29,153 Hedge funds *8 47,384 — — 47,384 Real estate and other *9 23,021 — (2,488 ) 25,509 Tota l 476,411 114,412 259,953 102,046 *1 Includes approximately 37 42 63 58 *2 Includes approximately 36 64 *3 Includes debt securities issued by Japanese and foreign corporation and government related agencies. *4 Includes primarily mortgage-backed securities. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 54 45 43 5 3 *6 Represents commodity futures funds. *7 Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. *8 Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. *9 Includes primarily private real estate investment trusts. Foreign plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,632 4,632 — — Equity: Equity securities *1 18,380 17,762 618 — Fixed income: Government bonds *2 93,826 — 93,826 — Corporate bonds *3 31,769 — 31,769 — Asset-backed securities 1,320 — 1,320 — Insurance contracts *4 19,334 — 7,156 12,178 Commingled funds *5 78,280 — 78,280 — Real estate and other *6 33,569 — 11,272 22,297 Total 281,110 22,394 224,241 34,475 Foreign plans Yen in millions Fair value at March 31, 2021 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 5,914 5,914 — — Equity: Equity securities *1 11,349 10,631 718 — Fixed income: Government bonds *2 18,843 — 18,843 — Corporate bonds *3 59,071 — 59,071 — Asset-backed securities 120 — 120 — Insurance contracts *4 156,567 — 7,480 149,087 Commingled funds *5 59,867 — 59,867 — Other 3,760 — 69 3,691 Total 315,491 16,545 146,168 152,778 *1 Includes primarily foreign equity securities. *2 Includes primarily foreign government debt securities. *3 Includes primarily foreign corporate debt securities. *4 Includes annuity contracts with or without profit sharing and bulk insurance contracts. *5 Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. *6 Includes primarily private real estate investment trusts. Each level in the fair value hierarchy, in which each plan asset is classified, is determined based on inputs used to measure the fair values of the asset, and does not necessarily indicate the risks or rating of the asset. The following is a description of the valuation techniques used to measure Japanese and foreign plan assets at fair value. The valuation techniques are applied consistently from period to period. Equity securities are valued at the closing price reported in the active market in which the individual securities are traded. These assets are generally classified as level 1. The fair value of fixed income s The fair value of annuity contracts with or without profit sharing is estimated using the valuation techniques for fixed income securities explained above. These assets are generally classified as level 2. Bulk insurance contracts are valued based on actuarial estimates of the market price of the contracts, whose underlying figures are unobservable. These assets are generally classified as level 3. Commingled funds are typically measured using the valuation provided by the administrator of the fund and reviewed by Sony. The valuation is based on Sony’s interest in the value of the underlying assets owned by the fund minus liabilities. These assets are classified as level 1, level 2 or level 3 depending on availability of quoted market prices. Commodity funds are valued using inputs that are derived principally from or corroborated by observable market data. These assets are generally classified as level 2. Private equity and private real estate investment trust valuations require significant judgment due to the absence of quoted market prices, the inherent lack of liquidity and the long-term nature of such assets. These assets are initially valued at cost and are reviewed periodically utilizing available and relevant market data to determine if the carrying value of these assets should be adjusted. These investments are classified as level 3. Hedge funds are measured using the valuation provided by the administrator or custodian of the fund and reviewed by Sony. The valuation is based on Sony’s interest in the value of the underlying assets owned by the fund minus liabilities. These investments are classified as level 3. The following table sets forth a summary of changes in the fair values of Japanese and foreign plans’ level 3 assets for the fiscal years ended March 31, 2020 and 2021 : Japanese plans Yen in millions Fair value measurement using significant unobservable inputs Private equity Hedge funds Real estate and other Total Beginning balance at April 1, 2019 27,956 71,606 21,392 120,954 Return on assets held at end of year 2,649 (648 ) 418 2,419 Purchases, sales, and settlements, net (414 ) (22,548 ) 3,561 (19,401 ) Ending balance at March 31, 2020 30,191 48,410 25,371 103,972 Return on assets held at end of year 7,793 4,199 1,558 13,550 Purchases, sales, and settlements, net (1,083 ) (4,182 ) 178 (5,087 ) Transfers, net (7,748 ) (1,043 ) (1,598 ) (10,389 ) Ending balance at March 31, 2021 29,153 47,384 25,509 102,046 Foreign plans Yen in millions Fair value measurement using significant Insurance Real estate and other Total Beginning balance at April 1, 2019 12,494 22,089 34,583 Return on assets held at end of year 559 132 691 Purchases, sales, and settlements, net (373 ) 755 382 Other * (502 ) (679 ) (1,181 ) Ending balance at March 31, 2020 12,178 22,297 34,475 Return on assets held at end of year (3,904 ) (402 ) (4,306 ) Purchases, sales, and settlements, net 139,769 (19,605 ) 120,164 Other * 1,044 1,401 2,445 Ending balance at March 31, 2021 149,087 3,691 152,778 * Primarily consists of translation adjustments. Sony makes contributions to appropriate foreign The expected future benefit payments are as follows: Japanese plans Foreign plans Fiscal year ending March 31 Yen in millions Yen in millions 2022 38,662 106,434 2023 36,885 12,742 2024 38,468 13,063 2025 37,414 13,633 2026 37,947 13,735 2027 — 2031 183,084 76,482 (2) Defined contribution plans Total defined contribution expenses for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Japanese plans 3,353 6,925 10,992 Foreign plans 11,602 10,313 9,639 |
Stockholders' equity
Stockholders' equity | 12 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Stockholders' equity | 16. Stockholders’ equity (1) Common stock Changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2019, 2020 and 2021 have resulted from the following: Number of shares Balance at March 31, 2018 1,266,552,149 Issuance of new shares 149,900 Exercise of stock acquisition rights 4,525,300 Conversion of convertible bonds 2,992 Balance at March 31, 2019 1,271,230,341 Issuance of new shares 184,900 Exercise of stock acquisition rights 2,294,900 Conversion of convertible bonds 86,040 Cancellation of treasury stock (12,737,400 ) Balance at March 31, 2020 1,261,058,781 Balance at March 31, 2021 1,261,058,781 At March 31, 2021, 22,289,133 shares of common stock would be issued upon the conversion or exercise of all convertible bonds and stock acquisition rights outstanding . Conversions of convertible bonds into common stock are accounted for in accordance with the provisions of the Companies Act of Japan (Kaishaho) and related regulations (collectively the “Companies Act”) by crediting approximately one-half paid-in Sony Group Corporation may purchase its own shares at any time by a resolution of the Board of Directors up to the retained earnings available for dividends to shareholders, in accordance with the Companies Act. Sony Group Corporation’s Board of Directors resolved and authorized the repurchase of shares of its own common stock pursuant to the Companies Act and Sony Group Corporation’s Articles of Incorporation at the meeting of the Board of Directors held on May 16, 2019. During the year ended March 31, 2020, Sony Group Corporation repurchased shares of its common stock for an amount of million yen under the above resolution. Based on the resolution of Sony Group Corporation’s Representative Corporate Executive Officer delegated by the Board of Directors, Sony Group Corporation canceled 12,737,400 shares of its common stock held as treasury stock on March 26, 2020. Although Sony Group Corporation approved on August 4, 2020 by resolution of the Board of Directors the setting of parameters for the repurchase of its own common stock pursuant to the Companies Act and Sony Group Corporation’s Articles of Incorporation, no common stock was acquired based on these parameters during the fiscal year ended March 31, 2021. (2) Retained earnings The amount of statutory retained earnings of Sony Group Corporation available for dividends to shareholders as of March 31, 2021 was 913,889 million yen. The appropriation of retained earnings for the fiscal year ended March 31, 2021, including cash dividends for the six-month period ended March 31, 2021, has been incorporated in the consolidated financial statements. This appropriation of retained earnings was approved at the meeting of the Board of Directors of Sony Group Corporation held on April 28, 2021 and was then recorded in the statutory books of account, in accordance with the Companies Act. Retained earnings include Sony’s equity in undistributed earnings of affiliated companies accounted for by the equity method in the amount of 61,226 million yen and 71,417 million yen at March 31, 2020 and 2021, respectively. (3) Other comprehensive income Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Unrealized Unrealized Pension liability Foreign Total Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Cumulative effect of ASU (15,526 ) — — — (15,526 ) Other comprehensive income before reclassifications 33,124 2,316 (23,448 ) 10,071 22,063 Amounts reclassified out of accumulated other comprehensive income * 161 (1,093 ) 9,488 (1,627 ) 6,929 Net other comprehensive income 33,285 1,223 (13,960 ) 8,444 28,992 Less: Other comprehensive income attributable to noncontrolling interests 8,915 — 53 (1,578 ) 7,390 Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) (610,670 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) — (610,670 ) Other comprehensive income before reclassifications 40,334 1,193 (17,519 ) (75,814 ) 3,032 (48,774 ) Amounts reclassified out of accumulated other comprehensive income * 56 74 92,490 (74 ) — 92,546 Net other comprehensive income 40,390 1,267 74,971 (75,888 ) 3,032 43,772 Less: Other comprehensive income attributable to noncontrolling interests 14,234 — 34 (1,245 ) 1,059 14,082 Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) Other comprehensive income before reclassifications (102,588 ) 5,571 2,358 107,661 (3,081 ) 9,921 Amounts reclassified out of accumulated other comprehensive income * 96 (4,058 ) 10,607 (835 ) (39 ) 5,771 Net other comprehensive income (102,492 ) 1,513 12,965 106,826 (3,120 ) 15,692 Less: Other comprehensive income attributable to noncontrolling interests (11,971 ) — 3 1,183 (583 ) (11,368 ) Transactions with noncontrolling interests shareholders and other 30,635 — (910 ) (300 ) 475 29,900 Balance at March 31, 2021 101,305 2,761 (223,468 ) (404,529 ) (89 ) (524,020 ) * Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. Reclassifications out of accumulated other comprehensive income for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Comprehensive income components Amounts reclassified from Affected line items in consolidated statements of income 2019 2020 2021 Unrealized gains (losses) on securities 235 82 130 Financial services revenue Tax expense or (benefit) (74 ) (26 ) (34 ) Net of tax 161 56 96 Unrealized gains (losses) on derivative instruments (1,093 ) — — Cost of sales — 106 (5,382 ) Net sales — — 285 Interest Total before tax (1,093 ) 106 (5,097 ) Tax expense or (benefit) — (32 ) 1,039 Net of tax (1,093 ) 74 (4,058 ) Pension liability adjustment 9,891 92,514 13,181 * Tax expense or (benefit) (403 ) (24 ) (2,574 ) Net of tax 9,488 92,490 10,607 Foreign currency translation adjustments (1,627 ) (74 ) (835 ) Foreign exchange loss, net, other operating (income) expense, net and other income: other Tax expense or (benefit) — — — Net of tax (1,627 ) (74 ) (835 ) Debt valuation adjustments — — (39 ) Financial services expenses Tax expense or (benefit) — — — Net of tax — — (39 ) Total amounts reclassified out of accumulated other comprehensive income, net of tax 6,929 92,546 5,771 * The amortization of pension and postretirement benefit components is included in the computation of net periodic pension cost. Refer to Note 15. (4) Equity transactions with noncontrolling interests Net income attributable to Sony Group Corporation’s stockholders and transfers (to) from the noncontrolling interests for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Net income attributable to Sony Group Corporation’s stockholders 916,271 582,191 1,171,776 Transfers (to) from the noncontrolling interests: Increase (decrease) in additional paid-in (22,775 ) 16,372 196,002 Change from net income attributable to Sony Group Corporation’s stockholders and transfers (to) from the noncontrolling interests 893,496 598,563 1,367,778 During the fiscal year ended March 31, 2019, Sony acquired from the Estate of Michael Jackson (the “Estate”) the 25.1% interest in Nile Acquisition LLC (“Nile”) held by the Estate. A total of 287.5 million U.S. dollars was paid to the Estate for the acquisition. The difference between the cash consideration paid and the carrying amount of the noncontrolling interests was recognized as a decrease to additional paid-in . During the fiscal year ended March 31, 2020, Sony, through a wholly-owned subsidiary in the Pictures segment, acquired AT&T Inc.’s (“AT&T”) 42% equity interest in Game Show Network, LLC (“Game Show Network”), a U.S.-based media network subsidiary. As a result of this acquisition, Game Show Network has become a wholly-owned subsidiary of Sony. Sony paid 53,992 million yen (496 million U.S. dollars) to AT&T, including 129 million U.S. dollars of dividends Sony distributed to AT&T prior to the acquisition. The difference between the cash paid and the carrying amount of the noncontrolling interests was recognized as an increase to additional paid-in During the fiscal year ended March 31, 2021, Sony Group Corporation acquired all the common shares and the related stock acquisition rights not held by Sony Group Corporation of SFH, a consolidated subsidiary of Sony Group Corporation, and SFH has become a wholly-owned subsidiary of Sony Group Corporation. Consideration for this acquisition was paid-in |
Stock-based compensation plans
Stock-based compensation plans | 12 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-based compensation plans | 17. Stock-based compensation plans The stock-based compensation expense for the fiscal years ended March 31, 2019, 2020 and 2021 was 5,499 million yen, 5,958 million yen and 8,927 million yen, respectively. Sony has a stock-based compensation incentive plan for selected directors, corporate executive officers and employees in the form of a stock acquisition rights plan. The stock acquisition rights generally have three year graded vesting schedules and are exercisable up to ten years from the date of grant. The total cash received from exercises under all of the stock acquisition rights plans during the fiscal years ended March 31, 2019, 2020 and 2021 was 12,757 million yen, 7,560 million yen and 12,430 million yen, respectively. Sony issued new shares of common stock or disposed of treasury stock upon exercise of these rights. The weighted-average fair value per share at the date of grant of stock acquisition rights granted during the fiscal years ended March , , and was yen, yen and yen, respectively. Fiscal year ended March 31 2019 2020 2021 Weighted-average assumptions Risk-free interest rate 1.37 % 0.70 % 0.17 % Expected lives 5.98 years 5.73 years 5.41 years Expected volatility * 32.52 % 29.30 % 26.97 % Expected dividends 0.35 % 0.32 % 0.34 % * Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. A summary of the activities regarding the stock acquisition rights plan during the fiscal year ended March 31, 2021 is as follows: Fiscal year ended March 31, 2021 Number of Weighted- Weighted- Total intrinsic value Yen Years Yen in millions Outstanding at beginning of the fiscal year 12,876,700 4,982 Granted 4,534,600 9,221 Exercised 3,178,300 3,911 Forfeited or expired 210,600 6,280 Outstanding at end of the fiscal year 14,022,400 6,653 7.80 68,218 Exercisable at end of the fiscal year 5,800,700 4,535 6.34 38,794 The total intrinsic value of shares exercised under the stock acquisition rights plan during the fiscal years ended March 31, 2019, 2020 and 2021 was 13,325 million yen, 7,575 million yen and 15,202 million yen, respectively. As of March 31, 2021, there was 9,119 million yen of total unrecognized compensation expense related to nonvested stock acquisition rights. This expense is expected to be recognized over a weighted-average period of 2.06 years. |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 18. Revenue (1) Contract balances Receivables from contracts with customers, contract assets and contract liabilities are comprised of the following: Yen in millions March 31, 2020 March 31, 2021 Receivables from contracts with customers *1 1,126,597 1,176,828 Contract assets *1 13,985 12,204 Contract liabilities *2 271,286 294,911 *1 Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. *2 Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. Contract liabilities principally relate to customer advances received prior to performance. Revenues of 204,265 million yen and million yen were recognized during the fiscal years ended March 31, 2020 and 2021, which were included in the balances of contract liabilities at March 31, 2019 and 2020, respectively. Revenues of 61,706 million yen and million yen were recognized during the fiscal years ended March 31, 2020 and 2021 from performance obligations satisfied prior to March 31, 2019 and 2020, respectively. (2) Performance obligations Remaining (unsatisfied or partially unsatisfied) performance obligations represent future revenues not yet recorded for firm orders that have not yet been performed. Sony applies practical expedients to exclude certain information about the remaining performance obligations, primarily related to contracts with an expected original duration of less than one year, and sales-based or usage-based royalty revenue on licenses of intellectual property. The following table shows the summary of the transaction prices allocated to remaining performance obligations that are unsatisfied at March 31, 2021, of which more than half are expected to be recognized within one year and substantially all within three years. Yen in millions March 31, 2021 Pictures — Motion Pictures and Television Productions *1 644,569 Pictures — Media Networks 20,346 Music *2 57,904 Others 47,211 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. (3) Contract costs Contract costs are comprised as follows: Yen in millions March 31, 2020 March 31, 2021 Incremental costs of obtaining a contract 7,464 8,348 Sony applies practical expedients to recognize the incremental costs of obtaining a contract as an expense if the amortization period of the asset that otherwise would have been recognized is one year or less. The amortization of 6,420 million yen and million yen was recognized during the fiscal years ended March 31, 2020 and 2021, respectively. The incremental costs of obtaining a contract are primarily recognized in the EP&S segment for the internet-related service business and amortized to expense over the contract period. (4) Disaggregation of revenue For the breakdown of sales and operating revenue by segments, product categories and geographies, refer to Note 27. |
Restructuring charges
Restructuring charges | 12 Months Ended |
Mar. 31, 2021 | |
Restructuring and Related Activities [Abstract] | |
Restructuring charges | 19. Restructuring charges As part of its effort to improve the performance of the various businesses, Sony has undertaken a number of restructuring initiatives. Sony defines restructuring initiatives as activities initiated by Sony, which are designed to generate a positive impact on future profitability. These activities include exiting a business or product category, implementing a headcount reduction program, realignment of its manufacturing sites to low-cost areas, utilizing the services of third-party original equipment and design manufacturers (OEMs and ODMs), a review of its development and design structure, and the streamlining of its sales and administrative functions. The restructuring activities are generally short term in nature and are generally completed within one year of initiation. The changes in the accrued restructuring charges for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Employee Non-cash * Other Total Balance at March 31, 2018 19,486 — 4,188 23,674 Restructuring costs 24,449 2,731 5,825 33,005 Non-cash — (2,731 ) — (2,731 ) Cash payments (19,150 ) — (2,555 ) (21,705 ) Adjustments 955 — (357 ) 598 Balance at March 31, 2019 25,740 — 7,101 32,841 Restructuring costs 22,957 100 1,653 24,710 Non-cash — (100 ) — (100 ) Cash payments (23,385 ) — (6,703 ) (30,088 ) Adjustments (674 ) — (131 ) (805 ) Balance at March 31, 2020 24,638 — 1,920 26,558 Restructuring costs 19,669 2,806 3,240 25,715 Non-cash — (2,806 ) — (2,806 ) Cash payments (24,246 ) — (3,152 ) (27,398 ) Adjustments (891 ) — 144 (747 ) Balance at March 31, 2021 19,170 — 2,152 21,322 * Significant asset impairments excluded from restructuring charges are described in Note 13. Total costs incurred in connection with these restructuring programs by segment for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31, 2019 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 2,991 201 3,192 — 3,192 Pictures 4,795 — 4,795 — 4,795 Electronics Products & Solutions 11,437 4,574 16,011 86 16,097 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 5,226 3,781 9,007 — 9,007 Total 24,449 8,556 33,005 86 33,091 Yen in millions Fiscal year ended March 31, 2020 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 3,179 6 3,185 — 3,185 Pictures 545 — 545 — 545 Electronics Products & Solutions 14,500 227 14,727 — 14,727 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 4,733 1,520 6,253 256 6,509 Total 22,957 1,753 24,710 256 24,966 Yen in millions Fiscal year ended March 31, 2021 Employee Other associated * Total net Depreciation Total Game & Network Services 3,524 553 4,077 13 4,090 Music (1,139 ) 96 (1,043 ) — (1,043 ) Pictures 1,519 54 1,573 — 1,573 Electronics Products & Solutions 11,466 4,205 15,671 — 15,671 Imaging & Sensing Solutions 1,362 — 1,362 — 1,362 Financial Services — — — — — All Other and Corporate 2,937 1,138 4,075 148 4,223 Total 19,669 6,046 25,715 161 25,876 * Other associated costs includes non-cash Depreciation associated with restructured assets as used in the context of the disclosures regarding restructuring activities refers to the increase in depreciation expense caused by revising the useful life and the salvage value of depreciable fixed assets under an approved restructuring plan. Any impairment of the assets is recognized immediately in the period it is identified. Retirement programs Sony has undergone several headcount reduction programs to further reduce operating costs primarily in an effort to improve the performance of certain segments related t EP&S In an effort to improve the performance of each business in the EP&S segment, Sony has implemented a number of restructuring initiatives targeting profitability improvement. These activities resulted in restructuring charges mainly overseas totaling 16,011 million yen, 14,727 million yen and 15,671 million yen for the fiscal years ended March 31, 2019, 2020 and 2021, respectively. |
Supplemental consolidated state
Supplemental consolidated statements of income information | 12 Months Ended |
Mar. 31, 2021 | |
Other Income and Expenses [Abstract] | |
Supplemental consolidated statements of income information | 20. Supplemental consolidated statements of income information (1) Other operating (income) expense, net Sony records transactions in other operating (income) expense, net due to either the nature of the transaction or in consideration of factors including the relationship to Sony’s core operations. Other operating (income) expense, net is comprised of the following: Yen in millions March 31 2019 2020 2021 Gain on remeasurement of EMI shares *1 (116,939 ) — — Gain on remeasurement and sale of SRE shares *2 — (17,266 ) — Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares *3 — (1,827 ) — (Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net (1,557 ) (12,801 ) (16,895 ) (Gain) loss on sale, disposal or impairment of assets, net* 4 46,928 29,778 23,835 Other — (1,495 ) 528 (71,568 ) (3,611 ) 7,468 *1 Refer to Notes 5 and 24. *2 Refer to Note 5. *3 Refer to Notes 5 and 24. *4 Refer to Notes 9, 13 and 19. (2) Research and development costs Research and development costs charged to cost of sales for the fiscal years ended March 31, 2019, 2020 and 2021 were 481,202 million yen, 499,290 million yen and 525,175 million yen, respectively. (3) Advertising costs Advertising costs included in selling, general and administrative expenses for the fiscal years ended March 31, 2019, 2020 and 2021 were 385,500 million yen, 359,458 million yen and 260,068 million yen, respectively. (4) Shipping and handling costs Shipping and handling costs for finished goods included in selling, general and administrative expenses for the fiscal years ended March 31, 2019, 2020 and 2021 were 51,757 million yen, 46,196 million yen and 82,708 million yen, respectively, which included the internal transportation costs of finished goods. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 21. Income taxes Domestic and foreign components of income before income taxes and the provision for current and deferred income taxes attributable to such income are summarized as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Income before income taxes: Sony Group Corporation and all subsidiaries in Japan 310,020 466,253 488,738 Foreign subsidiaries 701,628 333,197 703,632 1,011,648 799,450 1,192,370 Income taxes — Current: Sony Group Corporation and all subsidiaries in Japan 82,081 105,755 81,706 Foreign subsidiaries 84,667 66,636 72,716 166,748 172,391 154,422 Income taxes — Deferred: Sony Group Corporation and all subsidiaries in Japan 17,907 9,421 (172,095 ) Foreign subsidiaries (139,557 ) (4,622 ) 18,668 (121,650 ) 4,799 (153,427 ) Total income tax expense 45,098 177,190 995 A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: Fiscal year ended March 31 2019 2020 2021 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.7 0.3 0.1 Income tax credits (1.6 ) (1.7 ) (1.2 ) Change in statutory tax rate and law (0.3 ) (0.4 ) (0.1 ) Change in valuation allowances (other than the reversal of valuation allowance in U.S. and Japan national tax below) 2.3 (8.1 ) (5.0 ) The reversal of valuation allowances in the U.S. (15.3 ) — (5.5 ) The reversal of valuation allowances relating to the national tax of Sony Group Corporation and its national tax filing group in Japan — — (18.0 ) Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures (0.1 ) 0.2 0.7 Lower tax rate applied to life and non-life (0.5 ) (0.6 ) (0.4 ) Foreign income tax differential (6.4 ) (2.4 ) (5.0 ) Adjustments to tax reserves (0.3 ) 0.9 (0.3 ) The remeasurement gain for the equity interest in EMI (2.4 ) — — Japan controlled foreign company taxation 0.0 5.3 2.5 Other (3.1 ) (2.8 ) 0.8 Effective income tax rat e 4.5 % 22.2 % 0.1 % On December 22, 2017, the U.S. Tax Reform Act was signed into law, making significant changes to the U.S. tax rules. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning January 1, 2018 and the transition of U.S. international taxation from a worldwide tax system to a modified territorial system, with a one-time In addition to lowering the statutory corporate tax rate from 35% to 21%, the U.S. Tax Reform Act also eliminated certain deductions, included new restrictions on the deduction for interest, introduced a new tax regime called the Base Erosion Anti-Abuse Tax or “BEAT”, and changed how foreign earnings of the U.S. group are subject to tax. The U.S. Tax Reform Act also enhanced and extended the option to claim accelerated depreciation and amortization deductions by allowing full expensing of qualified property, including film costs, through 2022. The U.S. Tax Reform Act also provided for beneficial treatment of certain income derived by a U.S. entity from outside the United States (referred to as Foreign Derived Intangible Income or “FDII”). The BEAT creates a minimum tax on multinational corporations by requiring companies subject to the BEAT to pay the greater of their regular tax liability (less certain credits, including foreign tax credits) or 10% for taxable years beginning in 2019 (6.25% for the fiscal year ended March 31, 2019) of a modified tax base which adds back certain related party payments. The BEAT comparison to regular tax must be done each year if the taxpayer’s “base erosion” related party payments exceed Sony provides a valuation allowance for its d As of December 31, 2018, SCA and its U.S. consolidated tax filing group continued its profitable trend, primarily as a result of the G&NS segment and the Music segment. Based on an assessment of the available positive and negative evidence, in the quarter ended December 31, 2018, Sony reversed the valuation allowances established against a significant portion of the deferred tax assets in the United States, primarily for net operating losses, temporary differences and certain tax credits, and recorded a tax benefit of 154,201 million yen. During the fiscal year ended March 31, 2021, Sony reversed additional valuation allowances against general business tax credits and foreign tax credits in the United States. As of September 30, 2020, despite the COVID-19, expected million yen in the quarter ended September 30, 2020. Valuation allowances continue to be recorded on the remaining deferred tax assets in Japan, primarily foreign tax credits, due to restrictions on the use of such assets and their relatively short remaining carryforward periods. The significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31 2020 2021 Deferred tax assets: Operating loss carryforwards for tax purposes 348,714 302,647 Accrued pension and severance costs 77,559 59,608 Amortization including film costs 65,349 45,506 Lease liabilities 100,720 91,186 Warranty reserves and accrued expenses 116,234 138,413 Future insurance policy benefits 42,056 44,023 Inventories 15,512 28,086 Depreciation 39,085 45,096 Tax credit carryforwards 94,900 63,590 Loss on equity securities 11,815 — Allowance for credit losses 9,090 7,958 Impairment of investments 6,029 1,821 Deferred revenue 24,420 24,502 Other 122,591 167,255 Gross deferred tax assets 1,074,074 1,019,691 Less: Valuation allowance (608,243 ) (276,382 ) Total deferred tax assets 465,831 743,309 Deferred tax liabilities: Insurance acquisition costs (170,868 ) (187,155 ) Future insurance policy benefits (193,315 ) (196,045 ) Unbilled accounts receivable in the Pictures segment (26,214 ) (7,894 ) Right-of-use (96,970 ) (85,244 ) Unrealized gains on securities (92,791 ) (51,147 ) Gain on equity securities — (109,218 ) Intangible assets acquired through stock exchange offerings (23,949 ) (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (89,909 ) (93,481 ) Undistributed earnings of foreign subsidiaries and corporate joint ventures (25,359 ) (41,515 ) Investment in M3 (38,303 ) (41,347 ) Other (47,319 ) (65,605 ) Gross deferred tax liabilities (804,997 ) (902,600 ) Net deferred tax liabilities (339,166 ) (159,291 ) Based on the weight of the available positive and negative evidence, for the fiscal year ended March 31, 2021, Sony continued to maintain valuation allowances against the deferred tax assets at certain subsidiaries in Japan, as well as at Sony Mobile Communications in Sweden, Sony Europe B.V. in the United Kingdom, certain subsidiaries in Brazil, and certain subsidiaries in other tax jurisdictions. As of March 31, 2021, Sony Group Corporation and its national tax filing group in Japan recorded a valuation allowance es The net changes in the total valuation allowance were decreases of 176,721 million yen, 114,871 million yen and 331,861 million yen for the fiscal years ended March 31, 2019, 2020 and 2021, respectively. The decrease in the valuation allowances during the fiscal year ended March 31, 2019 was mainly due to the reversal of the valuation allowances on significant deferred tax assets in SCA and its U.S. consolidated tax filing group and the use of net operating loss carryforwards and other deferred tax assets in the national tax filing group in Japan and other jurisdictions. The decrease in the valuation allowances during the fiscal year ended March 31, 2020 was mainly due to the use of net operating loss carryforwards and other deferred tax assets in the national tax filing group in Japan and the use of foreign tax credits and certain research and development credits in the consolidated tax filing group in the United States. The decrease in the valuation allowances during the fiscal year ended March 31, 2021 was mainly due to the reversal of the valuation allowances on significant deferred tax assets in Sony Group Corporation and its national tax filing group in Japan and general business tax credits and foreign tax credits in the consolidated tax At March 31, 2021, 14,573 million yen of deferred income taxes have not been provided on undistributed earnings of certain foreign subsidiaries and corporate joint ventures not expected to be remitted in the foreseeable future totaling 910,802 million yen. In addition, deferred income taxes have not been provided on the gain on the book/tax basis difference in subsidiaries, including a gain of 61,544 million yen on a subsidiary’s sale of stock arising from the issuance of common stock of Sony Music Entertainment (Japan) Inc. in a public offering to third parties in November 1991 and the remeasurement gain for the equity interest in EMI recorded in the fiscal year ended March 31, 2019 (Refer to Note 24). Sony does not anticipate any significant tax consequences on the possible future disposition of these investments based on its tax planning strategies. At March 31, 2021, Sony had net operating loss carryforwards, the tax effect of which totaled 302,647 million yen, which may be available as an offset against future taxable income on tax returns to be filed in various tax jurisdictions. With the exception of 107,935 million yen with no expiration period, substantially all of the total net operating loss carryforwards expire at various dates between the fiscal years ending March 31, 2022 and 2024 Tax credit carryforwards at March 31, 2021 amounted to 63,590 million yen. With the exception of 17,742 million yen with no expiration period, substantially all of the total available tax credit carryforwards expire at various dates between the fiscal years ending March 31, 2022 and 2031 A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows: Yen in millions March 31 2019 2020 2021 Balance at beginning of the fiscal year 95,425 50,577 41,268 Reductions for tax positions of prior years (31,396 ) (331 ) (761 ) Additions for tax positions of prior years 3,094 162 52 Additions based on tax positions related to the current year 2,594 8,074 8,267 Settlements (4,235 ) (13,240 ) (4,467 ) Lapse in statute of limitations (14,824 ) (1,251 ) (1,095 ) Foreign currency translation adjustments (81 ) (2,723 ) 2,476 Balance at end of the fiscal year 50,577 41,268 45,740 Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate 35,004 29,539 33,126 The major changes in the total gross amount of unrecognized tax benefit balances relate to transfer pricing adjustments, including as a result of the Advance Pricing Agreements (“APAs”) and competent authority requests filed for certain subsidiaries in the G&NS, EP&S and I&SS segments and All Other, with respect to the intercompany cross-border transactions. The APAs include agreements between Sony and the relevant taxing authorities under the authority of the mutual agreement procedure specified in income tax treaties. Sony reviews its estimated tax expense based on the progress made in these procedures, and the progress of transfer pricing audits generally, and makes adjustments to its estimates as necessary. In addition, the APAs are government to government negotiations, and therefore it is possible that the final outcomes of the agreements may differ from Sony’s current assessment of the more-likely-than-not During the fiscal year ended March 31, 2019, Sony reversed 1,479 million yen of interest expense and recorded 218 million yen of penalties. At March 31, 2019, Sony had recorded liabilities of 9,309 million yen and 4,855 million yen for the payments of interest and penalties, respectively. During the fiscal year ended March 31, 2020, Sony reversed 1,276 million yen of interest expense and recorded 117 million yen of penalties. At March 31, 2020, Sony had recorded liabilities of 8,033 million yen and 4,971 million yen for the payments of interest and penalties, respectively. During the fiscal year ended March 31, 2021, Sony Sony operates in multiple jurisdictions throughout the world, and its tax returns are periodically audited by Japanese and foreign taxing authorities. As a result of audit settlements, the conclusion of current examinations, the expiration of the statute of limitations in several jurisdictions and other reevaluations of Sony’s tax positions, it is expected that the amount of unrecognized tax benefits will change in the next twelve months. Accordingly, Sony believes it is reasonably possible that its existing unrecognized tax benefits may be reduced by an amount up to 1,522 million yen within the next twelve months. Sony remains subject to examinations by Japanese taxing authorities for tax years from 2011 through 2020, and by the U.S. tax authorities for tax years from 2017 through 2020 and other material foreign taxing authorities for tax years from 2006 through 2020. |
Reconciliation of the differenc
Reconciliation of the differences between basic and diluted EPS | 12 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Reconciliation of the differences between basic and diluted EPS | 22. Reconciliation of the differences between basic and diluted EPS Reconciliation of the differences between basic and diluted EPS for the fiscal years ended March 31, 2019, 2020 and 2021 is as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation 916,271 582,191 1,171,776 Thousands of shares Weighted-average shares outstanding 1,266,592 1,234,408 1,230,480 Effect of dilutive securities: Stock acquisition rights 4,088 3,853 4,820 Zero coupon convertible bonds 23,966 23,994 15,392 Weighted-average shares for diluted EPS computation 1,294,646 1,262,255 1,250,692 Yen Basic EPS 723.41 471.64 952.29 Diluted EPS 707.74 461.23 936.90 Potential shares of common stock which were excluded from the computation of diluted EPS for the fiscal years ended March 31, 2019 and 2020 were 5,731 thousand shares, 3,212 thousand shares, respectively. Potential shares of common stock were not excluded from the computation of diluted EPS for the fiscal year ended March 31, 2021. Potential shares related to stock acquisition rights were excluded as anti-dilutive for the fiscal years ended March 31, 2019 and 2020 when the exercise price for those shares was in excess of the average market value of Sony’s common stock for those fiscal years. The zero coupon convertible if-converted method upon |
Variable interest entities
Variable interest entities | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable interest entities | 23. Variable interest entities Sony has entered into various arrangements with VIEs. (1) Consolidated VIEs Certain of Sony’s VIEs are (2) Unconsolidated VIEs As described in Note 6, certain accounts receivable sales programs also involve VIEs. These VIEs are all special purpose entities associated with the sponsor banks. Based on a qualitative assessment, Sony is not the primary beneficiary and therefore does not consolidate these entities as Sony does not have the power to direct the activities, an obligation to absorb losses, or the right to receive the residual returns of these VIEs. Sony’s maximum exposure to losses from these VIEs is considered insignificant. In the Financial Services segment, Sony has variable interests in VIEs where Sony is not the primary beneficiary. Sony’s variable interests in such VIEs include equity securities, securitized products, foreign corporate bonds and other investments. The following tables present the carrying value of the variable interests of unconsolidated VIEs in the Financial Services segment, the presentation in the consolidated balance sheet, and the maximum exposure to loss associated with these variable interests as of March 31, 2020 and 2021. Maximum exposure to loss does not reflect Sony’s estimate of the actual losses that could result from adverse changes, nor does it reflect the economic hedges Sony enters into to reduce its exposure. The risks associated with VIEs in which Sony is involved are limited to the amount recorded in the consolidated balance sheets and the amount of commitments. Yen in millions March 31, 2020 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid Equity securities *1 579,773 6,229 — 587,602 Securitized products — 210,641 — 210,641 Foreign corporate bonds *2 41,452 41,036 — 82,488 Other investments — 16,253 21,000 43,719 Total 621,225 274,159 21,000 924,450 Yen in millions March 31, 2021 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid Equity securities *1 681,201 6,698 — 688,428 Securitized products — 270,818 — 270,818 Foreign corporate bonds *2 49,011 31,026 — 80,037 Other investments 101 42,525 21,000 83,659 Total 730,313 351,067 21,000 1,122,942 *1 Equity securities include Investment funds. *2 Foreign corporate bonds include repackaged bonds. |
Acquisitions
Acquisitions | 12 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
Acquisitions | 24. Acquisitions (1) EMI Music Publishing acquisition On November 14, 2018, Sony Corporation of America, Sony’s wholly-owned subsidiary, completed the acquisition of the entirety of the approximately 60% equity interest held by the investor consortium led by the Mubadala Investment Company in DH Publishing, L.P. (“EMI”), which owned and managed EMI Music Publishing, for the equity purchase price of 257,168 million yen (2,269 million U.S. dollars), which includes payments related to warrants and management equity plans. Sony paid all the consideration in cash upon the acquisition. As a result of this acquisition, EMI has become a wholly-owned subsidiary of Sony. This acquisition allows Sony to build upon its music publishing library by providing the Company with full ownership of the EMI Music Publishing catalog which was being administered by Sony’s wholly-owned music publishing subsidiary, Sony/ATV Music Publishing. Sony’s consolidated income statements for the fiscal year ended March 31, 2019 include revenue and operating income of 28,871 million yen (260 million U.S. dollars) and 6,432 million yen (58 million U.S. dollars), respectively, attributable to EMI since the date of acquisition. Sony’s consolidated income statements for the three months ended March 31, 2019 include revenue and operating income of 18,420 million yen (167 million U.S. dollars) and 4,522 million yen (41 million U.S. dollars), respectively, attributable to EMI. Prior to the acquisition, Sony’s interest in EMI was accounted for under the equity method of accounting. As a result of Sony obtaining a controlling interest in EMI, Sony consolidated EMI using the acquisition method of accounting and recorded the fair value of the identifiable assets, liabilities assumed and residual goodwill of EMI. Sony remeasured the approximately 40% equity interest in EMI that Sony already owned prior to the acquisition at a fair value of 141,141 million yen (1,245 million U.S. dollars) which resulted in the recognition of a non-cash The following table summarizes the preliminary and final fair values assigned to the assets and liabilities of EMI that were recorded in the Music segment. Certain areas of the purchase price allocation were not yet finalized as of the fiscal year ended March 31, 2019, including the valuation of income taxes and residual goodwill. Yen in millions Acquired assets (Preliminary) Measurement Acquired assets (Final) Cash and cash equivalents 12,971 12,971 Notes and accounts receivable, trade and contract assets 32,287 32,287 Prepaid expenses and other current assets 10,220 (98 ) 10,122 Securities investments and other 1,476 1,476 Intangibles, net 420,534 420,534 Goodwill 237,271 (1,206 ) 236,065 Other 10,023 10,023 Total assets 724,782 (1,304 ) 723,478 Notes and accounts payable, trade 1,731 1,731 Accounts payable, other and accrued expenses 70,675 70,675 Accrued income and other taxes 3,082 (69 ) 3,013 Long-term debt 148,621 148,621 Accrued pension and severance costs 1,947 1,947 Deferred income taxes 94,849 (1,235 ) 93,614 Other 5,564 5,564 Total liabilities 326,469 (1,304 ) 325,165 Intangibles mainly consists of music publishing catalogs with weighted average amortization periods of 43 years. Goodwill represents unidentifiable intangible assets, such as future growth from new revenue streams and synergies with existing Sony assets and businesses, and is calculated as the excess of the purchase price over the estimated fair value of the tangible and intangible assets acquired and is not deductible for tax purposes. The goodwill recorded in connection with this acquisition is included in the Music segment. The following unaudited supplemental pro forma financial information presents the combined results of operations of Sony and EMI as though the acquisition had occurred as of the beginning of the fiscal year ended March 31, 2018: Yen in millions, Yen per share amounts Fiscal year ended March 31 2019 Net sales 8,738,209 Operating income 801,973 Net income attributable to Sony Group Corporation’s stockholders 817,629 Per share data: — Basic EPS 645.53 — Diluted EPS 631.55 The unaudited supplemental pro forma financial information is based on estimates and assumptions, which Sony believes are reasonable, and is not intended to represent or be indicative of what Sony’s consolidated net income attributable to Sony Group Corporation’s stockholders would have been had the acquisition been completed at the beginning of the fiscal year ended March 31, 2018 and should not be taken as indicative of Sony’s future consolidated net income attributable to Sony Group Corporation’s stockholders. The unaudited supplemental pro forma financial information includes the elimination of equity in net income and consolidation of EMI, the adjustment of the gain from the remeasurement of the previously owned equity interest, incremental intangible asset amortization, net of the related tax effects and the adjustments of expenses incurred in relation to warrants and management equity plans . (2) Insomniac Games, Inc. acquisition On November 15, 2019, Sony Interactive Entertainment LLC, a wholly-owned subsidiary in the G&NS segment of Sony, completed the acquisition of Insomniac Games, Inc. (“Insomniac Games”), a game developer. The consideration for this acquisition of 24,895 million yen (229 million U.S. dollars) was mainly paid in cash. As a result of this acquisition, Insomniac Games has become a wholly-owned subsidiary of Sony. As a result of this acquisition, Sony recorded 17,945 million yen (164 million U.S. dollars) of goodwill and 6,794 million yen (62 million U.S. dollars) of intangible assets. The cash consideration paid in this transaction, net of cash received, is included within Other in the investing activities section of the consolidated statements of cash flows. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (3) Silvergate Media acquisition On December 9, 2019, Sony, through a wholly-owned subsidiary in the Pictures segment, acquired Silvergate Media Group (“Silvergate”), a company focused on developing, producing and licensing children’s animation. The consideration for this acquisition of 21,017 million yen (192 million U.S. dollars) was paid in cash. As a result of this acquisition, Sony owns (1) 100% of Silvergate Topco Limited, which holds all assets of Silvergate other than certain rights held by Silvergate BP Bidco Limited, and (2) 31% of Silvergate BP Bidco Limited, the entity through which Silvergate produces its Peter Rabbit television series, and Sony recorded 11,431 million yen (106 million U.S. dollars) of goodwill and 3,387 million yen (32 million U.S. dollars) of intangible assets. The cash consideration paid in this transaction, net of cash received, is included within Other in the investing activities section of the consolidated statements of cash flows. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (4) Acquisition of equity interests in joint ventures in the life insurance business On January 29, 2020, Sony Life subsidiaries know-how Prior to the acquisition, Sony’s interest in the JVs was accounted for under the equity method of accounting. As a result of Sony obtaining a controlling interest in the JVs, Sony consolidated the JVs using the acquisition method of accounting and recorded the fair value of the identifiable assets, liabilities assumed and residual goodwill of the JVs. Sony remeasured the 50% equity interest in the JVs that Sony already owned prior to the acquisition at a fair value of 13,932 million yen which resulted in the recognition of a non-cash The following table summarizes the fair values assigned to the assets and liabilities of the JVs that were recorded in the Financial Services segment. Yen in millions Cash and cash equivalents 27,380 Marketable securities 530,851 Prepaid expenses and other current assets 21,933 Securities investments and other 15,329 Goodwill 3,609 Other 406 Total assets 599,508 Future insurance policy benefits and other 66,599 Policyholders’ account in the life insurance business 495,248 Other 4,979 Total liabilities 566,826 Goodwill represents the expected improvement of profitability due to business integration with Sony Life and operational efficiency, and is calculated as the excess of the purchase price over the estimated fair value of the tangible and intangible assets acquired and is not deductible for tax purposes. The goodwill recorded in connection with this acquisition is included in the Financial Services segment. Pro forma results of operations have not been presented because the effect of the acquisition was not material. (5) Other acquisitions During the fiscal year ended March 31, 2019, Sony completed other acquisitions for total consideration of 7,743 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 5,773 million yen of goodwill and 4,422 million yen of intangible assets. During the fiscal year ended March 31, 2020, Sony completed other acquisitions for total consideration of 6,853 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 6,778 million yen of goodwill and 2,301 million yen of intangible assets. During the fiscal year ended March 31, 2021, Sony completed other acquisitions for total consideration of 21,674 million yen which were paid for primarily in cash and there was no material contingent consideration subject to future change. As a result of these acquisitions, Sony recorded 19,954 million yen of goodwill and 6,237 million yen of intangible assets. No significant amounts have been allocated to in-process . |
Collaborative arrangements
Collaborative arrangements | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Collaborative arrangements | 25. Collaborative arrangements Sony’s collaborative arrangements primarily relate to arrangements entered into, through subsidiaries in the Pictures segment, with one or more active participants to jointly finance, produce and/or distribute motion pictures or television programming under which both the subsidiaries and the other active participants share in the risks and rewards of ownership. These arrangements are referred to as co-production Sony typically records an asset for only the portion of the motion pictures or television programming it owns and finances. Sony and the other participants typically distribute the product in different media or markets. Revenues earned and expenses incurred for the media or markets in which Sony distributes the product are typically recorded on a gross basis. Sony typically does not record revenues earned and expenses incurred when the other participants distribute the product. Sony and the other participants typically share in the profits from the distribution of the product in all media or markets. For motion pictures, if Sony is a net receiver of (1) Sony’s share of the profits from the media or markets distributed by the other participants less (2) the other participants’ share of the profits from the media or markets distributed by Sony then the net amount is recorded as net sales. If Sony is a net payer then the net amount is recorded in cost of sales. For television programming, Sony records its share of the profits from the media or markets distributed by the other participants as sales, and the other participants’ share of the profits from the media or markets distributed by Sony as cost of sales. For the fiscal years ended March 31, 2019, 2020 and 2021, 42,343 million yen, 33,921 million yen and 19,944 million yen, respectively, were recorded as net sales for amounts due from the other participants and 22,702 million yen, 21,052 million yen and 24,853 million yen, respectively, were recorded as cost of sales for amounts owed to the other participants in these collaborative arrangements . |
Commitments, contingent liabili
Commitments, contingent liabilities and other | 12 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, contingent liabilities and other | 26. Commitments, contingent liabilities and other (1) Loan commitments Subsidiaries in the Financial Services segment have lines of credit in accordance with loan agreements with their customers. As of March 31, 2021, the total unused portion of the lines of credit extended under these contracts was 37,322 million yen. Based upon the information currently available, it is not possible to estimate the aggregate amounts of future year-by-year (2) Purchase commitments and other Purchase commitments and other outstanding as of March 31, 2021 amounted to 811,400 million yen. The major components of these commitments are as follows: Certain subsidiaries in the Pictures segment have entered into agreements with creative talent for the development and production of motion pictures and television programming as well as agreements with third parties to acquire completed motion pictures, or certain rights therein, and to acquire the rights to broadcast certain live action sporting events. These agreements cover various periods mainly within three years. As of March 31, 2021, these subsidiaries were committed to make payments under such contracts of 105,921 million yen. Certain subsidiaries in the Music segment have entered into contracts with recording artists, songwriters and companies for the future production, distribution and/or licensing of music product. These contracts cover various periods mainly within five years. As of March 31, 2021, these subsidiaries were committed to make payments of 149,021 million yen under such contracts. In December 2020, Funimation Global Group, LLC, a joint venture between a subsidiary in the Pictures segment and a subsidiary in the Music segment, entered into a definitive agreement to acquire 100% of the equity interest in Ellation Holdings, Inc., a subsidiary of AT&T Inc., which operates the anime business Crunchyroll. The purchase price of this transaction is 1,175 million U.S. dollars subject to customary working capital and other adjustments. This transaction is subject to customary closing conditions, including regulatory approvals. For the Acquisition of certain businesses of Kobalt Music Group Limited, refer to Note 28. Certain subsidiaries in the G&NS segment have entered into long-term contracts for the development, distribution and publishing of game software. These contracts cover various periods mainly within seven years. As of March 31, 2021, these subsidiaries were committed to make payments of 32,959 million yen under such contracts. Sony has entered into purchase contracts for fixed assets. As of March 31, 2021, Sony has committed to make payments of 135,297 million yen under such contracts. Sony has entered into purchase contracts for materials. As of March 31, 2021, Sony has committed to make payments of 96,589 million yen under such contracts. Sony has entered into sponsorship contracts related to advertising and promotional rights. These contracts cover various periods mainly within one year. As of March 31, 2021, Sony has committed to make payments of 5,396 million yen under such contracts. The schedule of the aggregate amounts of year-by-year Fiscal year ending March 31 Yen in millions 2022 519,953 2023 112,975 2024 66,939 2025 53,358 2026 13,786 Later fiscal years 44,389 Total 811,400 (3) Litigation Sony Group Corporation and certain of its subsidiaries are defendants or otherwise involved in pending legal and regulatory proceedings. However, based upon the information currently available, Sony believes that the outcome from such legal and regulatory proceedings would not have a material impact on Sony’s results of operations and financial position. (4) Guarantees Sony has issued guarantees that contingently require payments to guaranteed parties if certain specified events or conditions occur. The maximum potential amount of future payments under these guarantees as of March 31, 2021 amounted to 529 million yen. In addition to the above, Sony also issues contractual product warranties under which it generally guarantees the performance of products delivered and services rendered for a certain period or term. The changes in the product warranty liability for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Balance at beginning of the fiscal year 44,717 33,005 31,807 Additional liabilities for warranties 23,041 21,448 19,560 Settlements (in cash or in kind) (26,326 ) (21,491 ) (19,666 ) Changes in estimate for pre-existing (7,370 ) (562 ) (860 ) Translation adjustments (1,057 ) (593 ) 2,010 Balance at end of the fiscal year 33,005 31,807 32,851 The consideration received for extended warranty service, which is not a significant portion of the warranty activities provided by Sony, is excluded from the amounts in the table above. |
Business segment information
Business segment information | 12 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Business segment information | 27. Business segment information The reportable segments presented below are the segments of Sony for which separate financial information is available and for which operating profit or loss amounts are evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM does not evaluate segments using discrete asset information. Sony’s CODM is its Chairman, President and Chief Executive Officer. The G&NS segment includes network services businesses, the manufacture and sales of home gaming products and production and sales of software. The Music segment includes the Recorded Music, Music Publishing and Visual Media and Platform businesses. The Pictures segment includes the Motion Pictures, Television Productions and Media Networks businesses. The EP&S segment includes the Televisions business, the Audio and Video business, the Still and Video Cameras business, the smartphone business and internet-related service business. The I&SS segment includes the image sensors business. The Financial Services segment primarily represents individual life insurance and non-life Segment sales and operating revenue: Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Game & Network Services — Customers 2,224,622 1,919,760 2,604,713 Intersegment 86,250 57,791 51,565 Total 2,310,872 1,977,551 2,656,278 Music — Customers 795,025 838,592 927,250 Intersegment 12,464 11,317 12,617 Total 807,489 849,909 939,867 Pictures — Customers 985,270 1,010,714 757,580 Intersegment 1,603 1,140 1,187 Total 986,873 1,011,854 758,767 Electronics Products & Solutions — Customers 2,303,167 1,969,880 1,902,887 Intersegment 17,461 21,388 17,843 Total 2,320,628 1,991,268 1,920,730 Imaging & Sensing Solutions — Customers 770,622 985,259 937,859 Intersegment 108,708 85,317 74,638 Total 879,330 1,070,576 1,012,497 Financial Services — Customers 1,274,708 1,299,847 1,661,520 Intersegment 7,831 7,901 7,401 Total 1,282,539 1,307,748 1,668,921 All Other — Customers 299,806 214,999 196,517 Intersegment 45,931 36,421 32,736 Total 345,737 251,420 229,253 Corporate and elimination (267,781 ) (200,441 ) (186,953 ) Consolidated total 8,665,687 8,259,885 8,999,360 G&NS intersegment amounts primarily consist of transactions with All Other. I&SS intersegment amounts primarily consist of transactions with the G&NS segment and the EP&S segment. All Other intersegment amounts primarily consist of transactions with the G&NS segment, the Music segment and the Pictures segment. Corporate and elimination includes certain brand and patent royalty income. Segment profit or loss: Yen in millions Fiscal year ended March 31 2019 2020 2021 Operating income (loss): Game & Network Services 311,092 238,400 342,192 Music 232,487 142,345 188,056 Pictures 54,599 68,157 80,478 Electronics Products & Solutions 76,508 87,276 139,180 Imaging & Sensing Solutions 143,874 235,584 145,876 Financial Services 161,477 129,597 164,582 All Other (11,127 ) 16,288 11,368 Total 968,910 917,647 1,071,732 Corporate and elimination (74,675 ) (72,188 ) (99,867 ) Consolidated operating income 894,235 845,459 971,865 Other income 144,735 21,949 264,235 Other expenses (27,322 ) (67,958 ) (43,730 ) Consolidated income before income taxes 1,011,648 799,450 1,192,370 Operating income (loss) is sales and operating revenue less costs and expenses, and includes equity in net income (loss) of affiliated companies. Other significant items: Yen in millions Fiscal year ended March 31 2019 2020 2021 Equity in net income (loss) of affiliated companies: Game & Network Services — — — Music (6,915 ) 4,239 570 Pictures 106 (629 ) 123 Electronics Products & Solutions (38 ) 136 (36 ) Imaging & Sensing Solutions — 0 (123 ) Financial Services (682 ) (104 ) — All Other 4,530 5,995 10,953 Consolidated total (2,999 ) 9,637 11,487 Depreciation and amortization: Game & Network Services 29,023 29,135 38,707 Music 21,259 29,137 30,666 Pictures 24,081 21,665 19,330 Electronics Products & Solutions 61,749 63,291 62,145 Imaging & Sensing Solutions 110,746 134,035 152,380 Financial Services, including deferred insurance acquisition costs 91,179 106,667 59,885 All Other 4,940 5,095 4,363 Total 342,977 389,025 367,476 Corporate 31,049 27,617 23,217 Consolidated total 374,026 416,642 390,693 The following table is a breakdown of sales and operating revenue to external customers by product category for each segment. Sony management views each segment as a single operating segment. Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Game & Network Services Digital Software and Add-on 1,102,231 1,010,296 1,454,654 Network Services 326,524 337,265 382,950 Hardware and Others 795,867 572,199 767,109 Total 2,224,622 1,919,760 2,604,713 Music Recorded Music — Streaming 227,513 276,039 337,100 Recorded Music — Others 199,413 191,114 179,167 Music Publishing 106,666 157,478 156,862 Visual Media and Platform 261,433 213,961 254,121 Total 795,025 838,592 927,250 Pictures Motion Pictures 436,017 475,061 271,081 Television Productions 288,816 301,224 267,123 Media Networks 260,437 234,429 219,376 Total 985,270 1,010,714 757,580 Electronics Products & Solutions Televisions 788,423 646,513 709,007 Audio and Video 362,580 346,060 313,975 Still and Video Cameras 421,506 384,142 338,694 Mobile Communications 487,330 362,144 358,580 Other 243,328 231,021 182,631 Total 2,303,167 1,969,880 1,902,887 Imaging & Sensing Solutions 770,622 985,259 937,859 Financial Services 1,274,708 1,299,847 1,661,520 All Other 299,806 214,999 196,517 Corporate 12,467 20,834 11,034 Consolidated total 8,665,687 8,259,885 8,999,360 Sony has realigned its product category configuration in regard to the new EP&S segment from the first quarter of the fiscal year ended March 31, 2020. Sony has also realigned its product category configuration in the Music segment with a more detailed breakdown in Recorded Music from the fourth quarter of the fiscal year ended March 31, 2020. In connection with these realignments, all prior period sales amounts by product category in the table above have been reclassified to conform to the current presentation. In the G&NS segment, Digital Software and Add-on add-on Television Productions includes the production, acquisition and distribution of television programming; Media Networks includes the operation of television and digital networks worldwide. In the EP&S segment, Televisions includes LCD and OLED televisions; Audio and Video includes Blu-ray Within the EP&S segment, the operating income (loss) of Mobile Communications for the fiscal years ended March 31, 2019, 2020 and 2021 was (97,136) million yen, (21,057) million yen and 27,671 million yen, respectively . Geographic Information: Sales and operating revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2019, 2020 and 2021 and property, plant and equipment, net and right-of-use Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Japan 2,591,784 2,472,479 2,962,465 United States 1,982,135 1,864,390 2,153,466 Europe 1,862,166 1,697,791 1,816,244 China 770,416 845,235 762,766 Asia-Pacific 912,193 892,026 861,623 Other Areas 546,993 487,964 442,796 Total 8,665,687 8,259,885 8,999,360 Yen in millions March 31 2020 2021 Property, plant and equipment, net and right-of-use Japan 946,922 999,280 United States 214,226 211,109 Europe 67,799 74,313 China 17,996 16,976 Asia-Pacific 46,932 48,515 Other Areas 7,379 12,335 Total 1,301,254 1,362,528 Major countries and areas in each geographic segment excluding Japan, United States and China are as follows: (1) Europe: United Kingdom, France, Germany, Russia, Spain and Sweden (2) Asia-Pacific: India, South Korea, Oceania, Thailand and Malaysia (3) Other Areas: The Middle East/Africa, Brazil, Mexico and Canada There are no individually material countries with respect to sales and operating revenue or property, plant and equipment, net and right-of-use Transfers between reportable business segments or geographic areas are made at individually negotiated prices that are intended to reflect a market-based transfer price. There were no sales and operating revenue with any single major external customer for the fiscal years ended March 31, 2019, 2020 and 2021. |
Subsequent events
Subsequent events | 12 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent events | 28. Subsequent events (1) Setting of parameters for repurchase of shares of its own common stock Sony Group Corporation approved the setting of the following parameters for repurchase of its own common stock pursuant to the Companies Act of Japan and Sony Group Corporation’s Articles of Incorporation at the meeting of its Board of Directors held on April 28, 2021: 1. Total number of shares for repurchase: 25 million shares (maximum) 2. Total purchase price for repurchase of shares: 200 billion yen (maximum) 3. Period of repurchase: April 30, 2021 to April 28, 2022 (2) Acquisition of certain businesses of Kobalt Music Group Limited On May 18, 2021, Sony Music Entertainment, a wholly-owned subsidiary of Sony, acquired 100% of the shares and related assets of certain subsidiaries of Kobalt Music Group Limited (“Kobalt”) relating to AWAL, Kobalt’s music distribution business mainly for independent recording artists, and Kobalt Neighbouring Rights, Kobalt’s music neighboring rights management business. The consideration for this acquisition of 49,794 million yen (456 million U.S. dollars) was paid in cash. Prior to the closing of the acquisition, the U.K. Competition and Markets Authority (“CMA”) initiated a review of the transaction, and Sony continues to cooperate with such review. The accounting treatment for the acquisition, which is currently under review by the CMA, has not yet been determined as of the date of this report. |
SCHEDULE II VALUATION AND QUALI
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Mar. 31, 2021 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS SONY GROUP CORPORATION AND CONSOLIDATED SUBSIDIARIES Yen in millions Balance Beginning (Note 1) Additions Deductions Other Balance at end of period Fiscal year ended March 31, 2019: Allowance for doubtful accounts 48,663 (25,114 ) 7,112 (5,532 ) 311 25,440 Fiscal year ended March 31, 2020: Allowance for doubtful accounts 25,440 — 9,006 (6,908 ) (1,665 ) 25,873 Fiscal year ended March 31, 2021: Allowance for credit losses (Note 2) 25,873 6,621 12,133 (8,115 ) 1,313 37,825 Notes: 1. Sony adopted ASU 2014-09 from April 1, 2018, and as a result, sales returns are presented as a liability instead of as a contra-asset allowance. Accordingly, Sony changed the presentation from “Allowance for doubtful accounts and sales returns” to “ Allowance Sony also adopted ASU 2016-13 from April 1, 2020, and as a result, the loss allowance is measured at an amount equal to expected credit losses over the contractual term. Accordingly, Sony changed the presentation from “Allowance for doubtful accounts” to “Allowance for credit losses” for the fiscal year ended March 31, 2021. 2. Allowance for credit losses shows the total amounts of loss allowances for both “Notes and accounts receivable, trade and contract assets” and “Securities investments and other” in the consolidated balance sheets. 3. Deductions mainly include both reversals and write-offs. 4. Other mainly includes translation adjustments. Yen in millions Balance Additions Deductions (Note 1) Other Balance at end of period Fiscal year ended March 31, 2019: Valuation allowance — Deferred tax assets 899,835 116,938 (309,226 ) 15,567 723,114 Fiscal year ended March 31, 2020: Valuation allowance — Deferred tax assets 723,114 53,245 (161,547 ) (6,569 ) 608,243 Fiscal year ended March 31, 2021: Valuation allowance — Deferred tax assets 608,243 41,816 (379,661 ) 5,984 276,382 Note: 1. Deductions mainly include the reversal of valuation allowances in Japan and the U.S. for the fiscal year ended March 31, 2021. 2. Translation adjustments and the effect of change in statutory tax rate. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of consolidation and accounting for investments in affiliated companies | Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of Sony Group Corporation and its majority-owned subsidiary companies, general partnerships and other entities in which Sony has a controlling interest, and variable interest entities (“VIEs”) for which Sony is the primary beneficiary. All intercompany transactions and accounts are eliminated. Investments in business entities in which Sony does not have control, but has the ability to exercise significant influence over operating and financial policies, generally through 20-50% 3-5% On occasion, a consolidated subsidiary or an affiliated company accounted for by the equity method may issue its shares to third parties in either a public or private offering or upon conversion of convertible debt to common stock at amounts per share in excess of or less than Sony’s average per share carrying value. With respect to such transactions, the resulting gains or losses arising from the change in ownership interest are recorded in earnings within the fiscal year in which the change in interest transactions occurs. Gains or losses that result from a loss of a controlling financial interest in a subsidiary are recorded in earnings along with fair value remeasurement gains or losses on any retained investment in the entity, while a change in interest in a consolidated subsidiary that does not result in a change in control is accounted for as a capital transaction and no gains or losses are recorded in earnings. The excess of the cost over the underlying net equity of investments in consolidated subsidiaries and affiliated companies accounted for on an equity basis is allocated to identifiable tangible and intangible assets and liabilities based on fair values at the date of acquisition. The unassigned residual value of the excess of the cost over Sony’s underlying net equity is recognized as goodwill as a component of the investment balance. |
Use of estimates | Use of estimates - The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates include those used in determining the valuation of investment securities, valuation of inventories, fair values of long-lived assets, fair values of goodwill and other intangible assets, fair values of assets and liabilities assumed in business combinations, product warranty liability, pension and severance plans, valuation of deferred tax assets, uncertain tax positions, film costs, and insurance related liabilities. Actual results could significantly differ from those estimates. The timing and extent to which the spread of COVID-19 |
Translation of foreign currencies | Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliates are translated into Japanese yen at appropriate fiscal year end exchange rates and all income and expense accounts are translated at exchange rates that approximate those rates prevailing at the time of the transactions. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income. Upon remeasurement of a previously held equity interest in accordance with the accounting guidance for business combinations achieved in stages, accumulated translation adjustments, if any, are included in earnings. Monetary assets and liabilities denominated in foreign currencies are translated at appropriate fiscal year end exchange rates and the resulting translation gains or losses are recognized into income. |
Cash, cash equivalents and restricted cash | Cash, cash equivalents and restricted cash - Cash and cash equivalents include all highly liquid investments, with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. Sony includes restricted cash within cash and cash equivalents in the statement of cash flows. |
Marketable debt and equity securities | Marketable debt and equity securities - Debt securities designated as available-for-sale held-to-maturity available-for-sale held-to-maturity Debt securities designated as available-for-sale held-to-maturity |
Equity securities that do not have readily determinable fair values | Equity securities that do not have readily determinable fair values - Equity securities that do not have readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. If indicators for impairment are present for equity securities that do not have readily determinable fair values, Sony evaluates whether any such equity security is impaired. If any such security is judged to be impaired, Sony recognizes the impairment of the investment and the carrying value is adjusted to its fair value. Determination of impairment is based on the consideration of several factors, including operating results, business plans and estimated future cash flows. Fair value is determined through the use of various methodologies such as discounted cash flows, valuation of recent financings and comparable valuations of similar companies. |
Allowance for credit losses | Allowance for credit losses - Sony estimates expected credit losses and recognizes loss allowances for specific financial assets. The loss allowance for not e The loss allowance for securities investments and other is primarily recognized for debt securities classified as available-for-sale held-to-maturity past-due Sony also writes off the gross carrying amount of the financial assets when it cannot reasonably expect to recover all or part of the assets. For the loss allowance for debt securities classified as available-for-sale held-to-maturity, Marketable debt and equity securities” |
Inventories | Inventories - Inventories in the Game & Network Services (“G&NS”), Music, Pictures, Electronics Products & Solutions (“EP&S”) and Imaging & Sensing Solutions (“I&SS”) segments are valued at cost, not in excess of the net realizable value – i.e., estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal, cost being determined on the “average cost” basis. |
Other receivables | Other receivables - Other receivables include receivables which relate to arrangements with certain component manufacturers whereby Sony procures goods, including product components, for these component manufacturers and is reimbursed for the related purchases. No revenue or profit is recognized on these transfers. Sony will repurchase the inventory at a later date from the component manufacturers as either finished goods inventory or as partially assembled product. |
Film costs | Film costs - Film costs, including direct production costs, production overhead and acquisition costs, are stated at the lower of unamortized cost or estimated fair value and classified as noncurrent assets. Film costs of content predominantly monetized individually are amortized, and the estimated liabilities for residuals and participations are accrued using an individual-film-forecast method based on the ratio of current period actual revenues to the estimated remaining total revenues. Film costs also include broadcasting rights, which are recognized when the license period begins and the program is available for use and consist of acquired programming to be aired on Sony’s worldwide channel network. Film costs of content predominantly monetized with other content, including broadcasting rights, are amortized based on estimated usage or on a straight-line basis over the useful life, as appropriate, although broadcasting rights licensed under multi-year live-event sports programming agreements are generally amortized based on the ratio of the current period’s actual advertising revenue and an allocation of subscription fee revenue to the estimated total remaining attributable revenues. Estimates used in calculating the fair value of film costs are based upon assumptions about future demand and market conditions and are reviewed on a periodic basis. Content produced by Television Productions and Motion Pictures in the Pictures segment is predominantly monetized individually. Substantially all content within Media Networks is predominantly monetized with other content. |
Property, plant and equipment and depreciation | Property, plant and equipment and depreciation - Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method. Useful lives for depreciation range from 2 to 50 years for buildings and from 2 to 10 years for machinery and equipment. Significant renewals and additions are capitalized at cost. Maintenance and repairs, and minor renewals and betterments are charged to income as incurred. |
Leases | Leases - When entering into a contract, Sony determines whether an arrangement contains a lease at its inception. An arrangement contains a lease if it conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease right-of-use right-of-use Right-of-use Right-of-use Right-of-use non-lease right-of-use As of April 1, 2019, Sony adopted Accounting Standards Update (“ASU”) 2016-02, which amends leasing guidance, on a modified retrospective basis with no restatement of comparative periods. Prior to the adoption of ASU 2016-02 on April 1, 2019, right-of-use assets and lease liabilities for operating leases were not recognized in Sony’s consolidated balance sheets. |
Goodwill and other intangible assets | Goodwill and other intangible assets - Goodwill and indefinite lived intangible assets are tested annually for impairment during the fourth quarter of the fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. Such an event or change in circumstances would include unfavorable variances from established business plans, significant changes in forecasted results or volatility inherent to external markets and industries, which are periodically reviewed by Sony’s management. In the fourth quarter of the fiscal year ended March 31, 2021, Sony elected not to perform an optional qualitative assessment of goodwill and instead proceeded directly to a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. Reporting units are Sony’s operating segments or one level below the operating segments. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, not to exceed the total amount of goodwill allocated to the reporting unit. Indefinite lived intangible assets are tested for impairment by comparing the fair value of the intangible asset with its carrying value, and if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of a reporting unit or indefinite lived intangible asset is generally determined using a discounted cash flow analysis. This approach uses significant estimates and assumptions, including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates, earnings multiples, the determination of appropriate comparable entities and the determination of whether a premium or discount should be applied to comparables. Consideration is also given to Sony’s market capitalization in relation to the sum of the calculated fair values of the reporting units, including reporting units with no goodwill, and taking into account corporate level assets and liabilities not assigned to individual reporting units as well as a reasonable control premium. The assumptions used for projected future cash flows and the timing of such cash flows are based on the forecast and mid-range e When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Management believes that the assumptions used to estimate the fair value in the goodwill impairment tests are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. Intangible assets with finite useful lives mainly consist of patent rights, know-how, internal-use know-how, internal-use |
Capitalized software | Capitalized software - The costs related to establishing the technological feasibility of software to be sold, leased or otherwise marketed are expensed as incurred as a part of research and development in cost of sales. Costs that are incurred to produce the finished product after technological feasibility is established are capitalized and amortized to cost of sales over the estimated economic life, which is generally three years. The technological feasibility of game software is established when the product master is completed. Consideration to capitalize game software development costs before this point is limited to the development costs of games for which technological feasibility can be proven at an earlier stage. At each balance sheet date, Sony performs reviews to ensure that unamortized capitalized software costs remain recoverable from future profits of the related software products. The costs incurred for internal-use |
Deferred insurance acquisition costs | Deferred insurance acquisition costs - Costs that vary with and are directly related to the acquisition or renewal of insurance policies are deferred as long as they are recoverable. The deferred insurance acquisition costs include such items as commissions, medical examination costs and inspection report fees, and are subject to recoverability testing at least annually to ensure that the capitalized amounts do not exceed the present value of anticipated gross profits or premiums less benefits and maintenance expenses, as applicable. The deferred insurance acquisition costs for traditional life insurance contracts are amortized over the premium-paying period of the related insurance policies using assumptions consistent with those used in computing policy reserves. The deferred insurance acquisition costs for non-traditional |
Product warranty | Product warranty - Sony provides for the estimated cost of product warranties at the time revenue is recognized. The product warranty is calculated based upon product sales, estimated probability of failure and estimated cost per claim. The variables used in the calculation of the provision are reviewed on a periodic basis. |
Future insurance policy benefits | Future insurance policy benefits - Liabilities for future insurance policy benefits are primarily comprised of the present value of estimated future payments to policyholders. These liabilities are computed by the net level premium method based upon the assumptions as to future investment yield, morbidity, mortality, withdrawals and other factors. These assumptions are reviewed on a periodic basis. Liabilities for future policy benefits includes the liabilities for the minimum guarantee benefits of variable annuities and variable life insurance contracts. As discussed below in “ Fair value measurement |
Policyholders' account in the life insurance business | Policyholders’ account in the life insurance business - Liabilities for policyholders’ account in the life insurance business represent the contract value that has accrued to the benefit of the policyholders as of the balance sheet date. This liability is generally equal to the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balances. Liabilities for policyholders’ account in the life insurance business includes the liabilities related to the variable annuities and variable life insurance contracts with minimum guarantee benefits. As discussed below in “ Fair value measurement |
Impairment of long-lived assets | Impairment of long-lived assets - Sony reviews the recoverability of the carrying value of its long-lived assets held and used, other than goodwill and intangible assets with indefinite lives, and assets to be disposed of, whenever events or changes in circumstances indicate that the individual carrying amount of an asset or asset group may not be recoverable. Long-lived assets to be held and used are reviewed for impairment by comparing the carrying value of the asset or asset group with their estimated undiscounted future cash flows. If the cash flows are determined to be less than the carrying value of the asset or asset group, an impairment loss would be recognized during the period for the amount by which the carrying value of the asset or asset group exceeds estimated fair value. Long-lived assets that are to be disposed of other than by sale are considered held and used until they are disposed of. Long-lived assets that are to be disposed of by sale are reported at the lower of their carrying value or fair value less cost to sell and are not depreciated. Fair value is determined using the present value of estimated net cash flows or comparable market values. This approach uses significant estimates and assumptions including projected future cash flows, the timing of such cash flows, discount rates reflecting the risk inherent in future cash flows, perpetual growth rates applied to determine terminal values, determination of appropriate market comparables and the determination of whether a premium or discount should be applied to comparables. Management believes that the estimates of future cash flows and fair values are reasonable, including, but not limited to, the potential impacts arising from the spread of COVID-19. |
Fair value measurement | Fair value measurement - Sony measures fair value as an exit price, or the amount that would be received to sell an asset or paid to transfer a liability elected the fair value option in the banking business for certain foreign securities. The election was made to mitigate accounting mismatches related to fluctuations of foreign exchange rates by allowing the gains and losses on the translation of these securities to be included in current earnings. Sony has also elected the fair value option for certain future insurance policy benefits and policyholders’ account in the life insurance business which are not normally measured at fair value. The election was made to mitigate accounting mismatches related to the changes in the fair value between liabilities for those future insurance policy benefits and policyholders’ account due to changes in the minimum guarantee risk of contracts of variable annuities with minimum guarantee benefits, and the underlying investment managed for policyholders and derivatives. Changes in fair value resulting from changes in instrument-specific credit risk were estimated by incorporating the certain subsidiary’s current credit spreads, and are recognized in other comprehensive income, net of tax. The accounting guidance for fair value measurements specifies a hierarchy of inputs to valuation techniques based on the extent to which inputs used in measuring fair value are observable in the market. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect Sony’s assumptions about the assumptions that market participants would use in pricing the asset or liability. Observable market data is used if such data is available without undue cost and effort. Each fair value measurement is reported in one of three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 — Inputs are unadjusted quoted prices for identical assets and liabilities in active markets. Level 2 — Inputs are based on observable inputs other than level 1 prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. Level 3 — One or more significant inputs are unobservable. When available, Sony uses unadjusted quoted market prices in active markets to measure fair value and classifies such items within level 1. If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency rates and option volatilities. Items valued using internally generated models are classified according to the lowest level input that is significant to the valuation. For certain financial assets and liabilities, Sony determines fair value using third-party information such as indicative quotes from dealers and quantitative input from investment advisors following Sony’s established valuation procedures including validation against internally developed prices. Additionally, Sony considers both counterparty credit risk and Sony’s own creditworthiness in determining fair value. Sony attempts to mitigate credit risk to third parties by entering into netting agreements and actively monitoring the creditworthiness of counterparties and its exposure to credit risk through the use of credit limits and by selecting major international banks and financial institutions as counterparties. |
Derivative financial instruments | Derivative financial instruments - All derivatives are recognized as either assets or liabilities in the consolidated balance sheets at fair value on a gross basis. Changes in the fair value of derivative financial instruments are either recognized periodically in income or stockholders’ equity (as a component of accumulated other comprehensive income), depending on whether the derivative financial instrument qualifies as a hedge and the derivative is being used to hedge changes in fair value or cash flows. The accounting guidance for hybrid financial instruments permits an entity to elect fair value remeasurement for any hybrid financial instrument if the hybrid instrument contains an embedded derivative that would otherwise be required to be bifurcated and accounted for separately under accounting guidance for derivative instruments and hedging activities. The election to measure the hybrid instrument at fair value is made on an instrument-by-instrument In accordance with accounting guidance for derivative instruments and hedging activities, various derivative financial instruments held by Sony are classified and accounted for as described below. Fair value hedges Changes in the fair value of derivatives designated as fair value hedges for recognized assets or liabilities or unrecognized firm commitments are recognized in earnings as offsets to changes in the fair value of the related hedged assets or liabilities. Cash flow hedges Changes in the fair value of derivatives designated as cash flow hedges for forecasted transactions or exposures associated with recognized assets or liabilities are initially recorded in other comprehensive income and reclassified into earnings when the hedged transaction affects earnings. The time value component of the fair value of option contracts is excluded from the assessment of hedge effectiveness and recognized in earnings on a straight-line basis over the life of the hedging instruments. Any difference between the change in fair value of the excluded component and the accumulated amount recognized in earnings on a straight-line basis is recognized in other comprehensive income. Derivatives not designated as hedges Changes in the fair value of derivatives that are not designated as hedges are recognized immediately in earnings. Assessment of hedges When applying hedge accounting, Sony formally documents all hedging relationships between the derivatives designated as hedges and the hedged items, as well as its risk management objectives and strategies for undertaking various hedging activities. Sony links all hedges that are designated as fair value or cash flow hedges to specific assets or liabilities on the consolidated balance sheets or to the specific forecasted transactions. Sony also assesses, both at the inception of the hedge and on an on-going |
Stock-based compensation | Stock-based compensation - Sony accounts for stock-based compensation using the fair value-based method and the expense is mainly included in selling, general and administrative expenses. Sony accounts for its stock acquisition rights plan using the fair value measured on the date of grant using the Black-Scholes option-pricing model. The stock acquisition rights plan is recognized, net of an estimated forfeiture rate, over the requisite service period using the accelerated method of amortization for grants with graded vesting. The estimated forfeiture rate is based on Sony’s historical experience in the stock acquisition rights plans where the majority of the vesting terms have b e |
Revenue recognition | Revenue recognition - Sony recognizes revenue in an amount that reflects the consideration Sony expects in exchange for satisfying performance obligations to transfer the goods or services promised in contracts with customers. This is in accordance with the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) Sony satisfies a performance obligation. Sony owns a variety of intellectual property throughout its segments and recognizes revenue through the licensing of such intellectual property. Sony has both functional and symbolic intellectual property. The licensing of functional intellectual property grants a customer a right to use Sony’s intellectual property as it exists at a point in time, and Sony satisfies its performance obligation at the point in time when the customer obtains control and is entitled to benefit from the license. The licensing of symbolic intellectual property grants a customer a right to access Sony’s intellectual property over time, and Sony satisfies its performance obligation over the license period as S o Incremental costs of obtaining a contract and costs to fulfill a contract are recognized as assets when Sony expects to recover these costs. The incremental costs of obtaining a contract are those costs that would not have been incurred if the contract had not been obtained. Costs to fulfill a contract are those costs that are directly related to a contract or to an anticipated contract and that generate or enhance resources for Sony to satisfy its performance obligations. Sony applies a practical expedient and recognizes the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that would have been recognized is one year or less. Performance obligations in contracts for the EP&S and I&SS segments are primarily to deliver various kinds of electronic equipment, instruments and devices to customers. Revenues from these performance obligations are generally recognized when a promised good is delivered to a customer. However, if the sales contract contains a customer acceptance provision, then revenues are recognized when the customer accepts the promised good or when a deemed acceptance occurs by the lapse of time. Revenues are also recognized over time, primarily from the provision of internet broadband network services to subscribers over the subscription period. Revenues are recognized net of anticipated returns and sales incentives. Within the G&NS segment, revenues from hardware, peripherals and software discs are recognized when performance obligations are satisfied by transferring control to the retailer/distributor, net of anticipated returns, sales incentives and cooperative advertising obligations. Revenues from platform licensing to publishers are recognized when physical software discs are delivered. Revenues from digital game content, which is licensed functional intellectual property, are recognized when the digital content is made available for use by the licensee via an online platform, net of anticipated sales incentives and credit card chargebacks. Revenues from digital game content involving multiple performance obligations, such as obligations to make content available on future dates, are allocated to each performance obligation based on the relative standalone selling prices that are observable in the market or Sony’s best estimate. Revenues from subscription fees for digital subscription services are recognized over the subscription period. Within the Music segment, Sony licenses intellectual property that transfer to a customer either a right to use Sony’s intellectual property as it exists at the point in time in which the license is granted, or a right to access Sony’s intellectual property as it exists throughout the license period. Revenues are recognized when the customer has the right to use or access the intellectual property and obtains control of the use or access of that license. Digital revenues include revenues from contracts with digital streaming services typically recognized as a single performance obligation, which is ongoing access to intellectual property in an evolving library of content over the contract term, predicated on: (1) the business practice and contractual ability to remove specific content without a requirement to replace the content and without impact to minimum royalty guarantees and (2) the contracts not containing a specific listing of content subject to the license. For these contracts, revenues are recognized on the basis of sales and usage royalties, except where there is an amount of a minimum royalty guarantee that is not expected to be recouped, or a fixed fee, which is recognized on a straight-line basis over the term of the contract. Revenues from the sale of physical product such as CDs, net of anticipated returns and sales incentives, are recognized when delivery has occurred and the product is available for sale to the public. Within the Pictures segment, revenues from the theatrical exhibition of motion pictures are recognized as the customer exhibits the film. Revenues from the licensing of motion picture and television programming for pay and free television exhibition and other markets are recognized when the product is available for use by the licensee. Revenues for motion picture and television program licensing arrangements involving multiple performance obligations, for example a fee for multiple titles, territories or availability dates, are allocated based on the relative standalone selling price of each performance obligation using Sony’s best estimate based on available information such as market conditions and internal pricing guidelines. Each individual motion picture or television programming product delivered generally represents a separate performance obligation. Licensing revenue associated with certain renewals or extensions of existing agreements for motion pictures and television programming is recognized when the licensee can use and benefit from the content under the renewal or extension. Licensing revenue associated with minimum guarantees for symbolic intellectual property is recognized ratably over the license term. For home entertainment distribution, revenues from the sale of physical product such as DVDs and Blu-ray TM delivery has occurred and the product is available for sale to the public. Revenues from electronic sell-through and video-on-demand p Within the Financial Services segment, traditional life insurance policies that the life insurance subsidiary underwrites, most of which are categorized as long-duration contracts, mainly consist of whole life, term life and accident and health insurance contracts. Premiums from these policies are reported as revenue when due from policyholders. Amounts received as payment for non-traditional non-life Revenue is recognized net of any taxes collected fr o |
Cost of sales | Cost of sales - Costs classified as cost of sales relate to the producing and manufacturing of products and include items such as material cost, subcontractor cost, depreciation of fixed assets, amortization of intangible assets, personnel expenses, research and development costs, and amortization of film costs related to motion picture and television productions. |
Research and development costs | Research and development costs - Research and development costs, included in cost of sales, include items such as salaries, personnel expenses and other direct and indirect expenses associated with research and product development. Research and development costs are expensed as incurred. |
Selling, general and administrative | Selling, general and administrative - Costs classified as selling expenses relate to promoting and selling products and include items such as advertising, promotion, shipping and warranty expenses. General and administrative expenses include operating items such as officers’ salaries, personnel expenses, depreciation of fixed assets, office rental for sales, marketing and administrative divisions, allowance for credit losses and amortization of intangible assets. |
Financial services expenses | Financial services expenses - Financial services expenses include a provision for policy reserves and amortization of deferred insurance acquisition costs, and all other operating costs, such as personnel expenses, depreciation of fixed assets, and office rental of subsidiaries, in the Financial Services segment. |
Advertising costs | Advertising costs - Advertising costs are expensed when the advertisement or commercial appears in the selected media. |
Shipping and handling costs | Shipping and handling costs - The majority of shipping and handling, warehousing and internal transfer costs for finished goods are included in selling, general and administrative expenses. An exception to this is in the Pictures segment where such costs are charged to cost of sales as they are an integral part of producing and distributing motion pictures and television programming. All other costs related to Sony’s distribution network are included in cost of sales, including inbound freight charges, purchasing and receiving costs, inspection costs and warehousing costs for raw materials and in-process |
Income taxes | Income taxes - The provision for income t Carrying amounts of deferred tax assets require a reduction by a valuation allowance if, based on the available evidence, it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is assessed periodically with appropriate consideration given to all positive and negative evidence related to the realization of the deferred tax assets. Management’s judgments related to this assessment consider, among other matters, the nature, frequency and severity of current and cumulative losses on an individual tax jurisdiction basis, forecasts of future profitability after consideration of uncertain tax positions, excess of appreciated asset value over the tax basis of net assets, the duration of statutory carryforward periods, the past utilization of net operating loss carryforwards prior to expiration, as well as prudent and feasible tax planning strategies which would be employed by Sony to prevent net operating loss and tax credit carryforwards from expiring unutilized. Sony records assets and liabilities for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. Sony continues to recognize interest and penalties, if any, with respect to income taxes, including unrecognized tax benefits, as interest expense and as income tax expense, respectively, in the consolidated statements of income. The amount of income taxes Sony pays is subject to ongoing audits by various taxing authorities, which may result in proposed assessments. In addition, several significant items related to intercompany transfer pricing are currently the subject of negotiations between taxing authorities in different jurisdictions as a result of pending advance pricing agreement applications and competent authority requests. Sony’s estimate for the potential outcome for any uncertain tax issues is judgmental and requires significant estimates. Sony assesses its income tax positions and records tax benefits for all years subject to examinations based upon the evaluation of the facts, circumstances and information available at that reporting date. For those tax positions for which it is more likely than not that a tax benefit will be sustained, Sony records the amount that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. If Sony does not believe that it is more likely than not that a tax benefit will be sustained, no tax benefit is recognized. However, Sony’s future results may include favorable or unfavorable adjustments to Sony’s estimated tax liabilities due to closure of income tax examinations, the outcome of negotiations between taxing authorities in different jurisdictions, new regulatory or judicial pronouncements or other relevant events. As a result, the amount of unrecognized tax benefits, and the effective tax rate, may fluctuate significantly. The U.S. Tax Cuts and Jobs Act of 2017 (the “U.S. Tax Reform Act”) subjects a U.S. entity to tax on Global Intangible Low Tax Income (“GILTI”) earned by its foreign subsidiaries. Sony has elected to account for GILTI as a current period expense when incurred. |
Net income (loss) attributable to Sony Group Corporation's stockholders per share ("EPS") | Net income (loss) attributable to Sony Group Corporation’s stockholders per share (“EPS”) - Basic EPS is computed based on the weighted-average number of shares of common stock outstanding during each period. The computation of diluted EPS reflects the maximum possible dilution from conversion, exercise, or contingent issuance of securities. All potentially dilutive securities are excluded from the calculation in a situation where there is a net loss attributable to Sony Group Corporation’s stockholders. |
Recently adopted accounting pronouncements | (2) Recently adopted accounting pronouncements Measurement of credit losses on financial instruments - In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, Improvements to Accounting for Costs of Films and License Agreements for Program Materials - In March 2019, the FASB issued ASU 2019-02, title-by-title Changes to the opening balances resulting from the adoption of the above ASUs were as follows: Yen in millions March 31, 2020 Impact of Adoption April 1, 2020 ASU 2016-13 ASU 2019-02 Total ASSETS Current assets: Notes and accounts receivable, trade and contract assets 1,028,793 — — — 1,028,793 Allowance for credit losses * (25,873 ) (280 ) — (280 ) (26,153 ) Inventories 589,969 — (31,517 ) (31,517 ) 558,452 Other receivables 188,106 (30 ) — (30 ) 188,076 Prepaid expenses and other current assets 594,021 (12 ) — (12 ) 594,009 Total current assets 5,735,145 (322 ) (31,517 ) (31,839 ) 5,703,306 Film costs 427,336 — 31,517 31,517 458,853 Investments and advances: Securities investments and other 12,526,210 780 — 780 12,526,990 Allowance for credit losses — (6,341 ) — (6,341 ) (6,341 ) Total investments and advances 12,734,132 (5,561 ) — (5,561 ) 12,728,571 Other assets: Deferred income taxes 210,372 45 — 45 210,417 Other 340,005 (721 ) — (721 ) 339,284 Total other assets 3,234,086 (676 ) — (676 ) 3,233,410 Total assets 23,039,343 (6,559 ) — (6,559 ) 23,032,784 LIABILITIES Deferred income taxes 549,538 (1,504 ) — (1,504 ) 548,034 Total liabilities 18,242,041 (1,504 ) — (1,504 ) 18,240,537 EQUITY Sony Group Corporation’s stockholders’ equity: Retained earnings 2,768,856 (3,669 ) — (3,669 ) 2,765,187 Total Sony Group Corporation’s stockholders’ equity 4,125,306 (3,669 ) — (3,669 ) 4,121,637 Noncontrolling interests 664,229 (1,386 ) — (1,386 ) 662,843 Total equity 4,789,535 (5,055 ) — (5,055 ) 4,784,480 Total liabilities and equity 23,039,343 (6,559 ) — (6,559 ) 23,032,784 * Under ASU 2016-13, Disclosures for Fair Value Measurement - In August 2018, the FASB issued ASU 2018-13, Disclosures for Defined Benefit Plans - In August 2018, the FASB issued ASU 2018-14, |
Recent accounting pronouncements not yet adopted | (3) Recent accounting pronouncements not yet adopted On February 3, 2021, Sony announced that its Board of Directors approved the voluntary adoption of International Financial Reporting Standards (“IFRS”) for its consolidated financial statements, in lieu of the currently applied U.S. GAAP. This decision was made with the goal of further streamlining and maintaining the quality of Sony’s financial and management reporting systems over the mid- s |
Reclassifications | (4) Reclassifications Certain reclassifications of the financial statements and accompanying footnotes for the fiscal years ended March 31, 2019 and 2020 have been made to conform to the presentation for the fiscal year ended March 31, 2021. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of New Accounting Pronouncement Balance Sheet | Changes to the opening balances resulting from the adoption of the above ASUs were as follows: Yen in millions March 31, 2020 Impact of Adoption April 1, 2020 ASU 2016-13 ASU 2019-02 Total ASSETS Current assets: Notes and accounts receivable, trade and contract assets 1,028,793 — — — 1,028,793 Allowance for credit losses * (25,873 ) (280 ) — (280 ) (26,153 ) Inventories 589,969 — (31,517 ) (31,517 ) 558,452 Other receivables 188,106 (30 ) — (30 ) 188,076 Prepaid expenses and other current assets 594,021 (12 ) — (12 ) 594,009 Total current assets 5,735,145 (322 ) (31,517 ) (31,839 ) 5,703,306 Film costs 427,336 — 31,517 31,517 458,853 Investments and advances: Securities investments and other 12,526,210 780 — 780 12,526,990 Allowance for credit losses — (6,341 ) — (6,341 ) (6,341 ) Total investments and advances 12,734,132 (5,561 ) — (5,561 ) 12,728,571 Other assets: Deferred income taxes 210,372 45 — 45 210,417 Other 340,005 (721 ) — (721 ) 339,284 Total other assets 3,234,086 (676 ) — (676 ) 3,233,410 Total assets 23,039,343 (6,559 ) — (6,559 ) 23,032,784 LIABILITIES Deferred income taxes 549,538 (1,504 ) — (1,504 ) 548,034 Total liabilities 18,242,041 (1,504 ) — (1,504 ) 18,240,537 EQUITY Sony Group Corporation’s stockholders’ equity: Retained earnings 2,768,856 (3,669 ) — (3,669 ) 2,765,187 Total Sony Group Corporation’s stockholders’ equity 4,125,306 (3,669 ) — (3,669 ) 4,121,637 Noncontrolling interests 664,229 (1,386 ) — (1,386 ) 662,843 Total equity 4,789,535 (5,055 ) — (5,055 ) 4,784,480 Total liabilities and equity 23,039,343 (6,559 ) — (6,559 ) 23,032,784 * Under ASU 2016-13, |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories are comprised of the following: Yen in millions March 31 2020 2021 Finished products 345,231 398,478 Work in process 149,969 133,560 Raw materials, purchased components and supplies 94,769 105,353 Inventories 589,969 637,391 |
Film costs (Tables)
Film costs (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Other Industries [Abstract] | |
Summary of Film Costs | Film costs are comprised of the following: Yen in millions March 31 2020 2021 Motion picture productions: Released 99,482 68,302 Completed and not released 18,776 20,148 In production and development 67,199 141,268 Television productions: Released 186,344 126,236 In production and development 25,093 33,712 Film costs for content predominantly monetized individually 396,894 389,666 Film costs for Media Networks content*1 61,959 69,760 Less: current portion of broadcasting rights included in inventories *2 (31,517 ) — Film costs 427,336 459,426 *1 Substantially all of Sony’s film costs for Media Networks content are broadcasting rights and predominantly monetized with other content. *2 Sony adopted ASU 2019-02 effective as of April 1, 2020, and as a result, broadcasting rights in the Pictures segment and animation film production costs in the Music segment were reclassified from inventories to film costs. |
Summary of Unamortized Film Costs | Unamortized film costs for released content and Media Networks content at March 31, 2021 are expected to be amortized as follows: Fiscal year ending March 31 Film costs for released content Film costs for 2022 77 % 42 % 2023 11 % 24 % 2024 3 % 14 % Total 91 % 80 % |
Investments in affiliated com_2
Investments in affiliated companies (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Summarized Combined Financial Information Provided by Equity Investees | The summarized combined financial information that is based on information provided by the equity investees including information for significant equity affiliates and the reconciliation of such information to the consolidated financial statements is shown below: Balance Sheets Yen in millions March 31 2020 2021 Current assets 389,195 435,910 Noncurrent assets 164,852 172,795 Current liabilities 194,219 208,306 Noncurrent liabilities and noncontrolling interests 60,469 61,232 Percentage of ownership in equity investees 20%-50 % 20%-50 % Statements of Income Yen in millions Fiscal year ended March 31 2019 2020 2021 Net revenues 390,457 387,678 414,934 Operating income 53,920 58,431 78,096 Net income attributable to controlling interests 5,539 34,916 46,914 Percentage of ownership in equity investees 20%-50 % 20%-50 % 20%-50 % |
Account Balances and Transactions with Affiliated Companies Accounted for under Equity Method | Account balances and transactions with affiliated companies accounted for under the equity method are presented below. There are no other material transactions or account balances with any other related parties. Yen in millions March 31 2020 2021 Accounts receivable, trade 12,030 5,814 Other receivables 1,589 3,014 Other current assets 9,757 16,097 Accounts payable, trade 1,497 1,409 Short-term borrowings 31,557 21,367 Finance lease liabilities and other 34,564 48,018 Operating lease liabilities 2,393 2,730 Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales 41,437 35,951 32,372 Purchases 5,584 3,479 3,058 |
Marketable securities and sec_2
Marketable securities and securities investments (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value Pertaining to Available-for-Sale Securities and Held-to-Maturity Securities | Marketable securities and securities investments, primarily held in the Financial Services segment, include debt securities for which the aggregate cost, gross unrealized gains and losses and fair value pertaining to available-for-sale held-to-maturity Yen in millions March 31, 2020 March 31, 2021 Cost Gross Gross Fair value Cost Gross Gross Fair value Debt securities: Available-for-sale Japanese national government bonds 1,552,036 210,459 (566 ) 1,761,929 2,301,995 159,880 (18,609 ) 2,443,266 Japanese local government bonds 69,132 73 (33 ) 69,172 73,989 94 (20 ) 74,063 Japanese corporate bonds 202,164 19,112 (567 ) 220,709 259,932 13,356 (1,475 ) 271,813 Foreign government bonds 198,777 81,014 (14 ) 279,777 323,557 23,118 (20,819 ) 325,856 Foreign corporate bonds 361,422 507 (2,179 ) 359,750 382,231 1,102 (459 ) 382,874 Securitized products 205,223 0 — 205,223 198,593 — — 198,593 Other 14,398 1,867 (12 ) 16,253 42,469 3,492 (140 ) 45,821 2,603,152 313,032 (3,371 ) 2,912,813 3,582,766 201,042 (41,522 ) 3,742,286 Held-to-maturity Japanese national government bonds 6,204,505 2,098,885 (1,397 ) 8,301,993 6,244,125 1,650,057 (13,390 ) 7,880,792 Japanese local government bonds 2,504 331 — 2,835 1,716 294 — 2,010 Japanese corporate bonds 482,050 61,176 (4,754 ) 538,472 543,870 36,071 (14,919 ) 565,022 Foreign government bonds 723,937 302,297 — 1,026,234 850,740 51,494 (25,277 ) 876,957 Foreign corporate bonds 98 7 — 105 27,392 572 (109 ) 27,855 Securitized products 5,418 — (421 ) 4,997 69,062 65 (4 ) 69,123 7,418,512 2,462,696 (6,572 ) 9,874,636 7,736,905 1,738,553 (53,699 ) 9,421,759 Total 10,021,664 2,775,728 (9,943 ) 12,787,449 11,319,671 1,939,595 (95,221 ) 13,164,045 |
Cost and Fair Value of Debt Securities Classified as Available-for-Sale Securities and Held-to-Maturity Securities by Contractual Maturity | The following table presents the cost and fair value of debt securities classified as available-for-sale held-to-maturity Yen in millions March 31, 2021 Available-for-sale Held-to-maturity Cost Fair value Cost Fair value Due in one year or less 568,574 568,625 6,680 6,757 Due after one year through five years 419,311 434,470 288,952 307,127 Due after five years through ten years 650,929 725,747 252,897 284,725 Due after ten years 1,943,952 2,013,444 7,188,376 8,823,150 Total 3,582,766 3,742,286 7,736,905 9,421,759 |
Gross Unrealized Losses and Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time in Continuous Unrealized Loss Position | The following tables present the gross unrealized losses on, and fair value of, Sony’s investment securities with unrealized losses, aggregated by investment category and the length of time that individual investment securities have been in a continuous unrealized loss position, at March 31, 2020 and 2021. Yen in millions March 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale Japanese national government bonds 51,746 (539 ) 2,032 (27 ) 53,778 (566 ) Japanese local government bonds 25,010 (10 ) 16,340 (23 ) 41,350 (33 ) Japanese corporate bonds 62,118 (548 ) 10,694 (19 ) 72,812 (567 ) Foreign government bonds — — 1,537 (14 ) 1,537 (14 ) Foreign corporate bonds 86,220 (2,133 ) 18,896 (46 ) 105,116 (2,179 ) Securitized products — — — — — — Other 12,055 (12 ) — — 12,055 (12 ) Total 237,149 (3,242 ) 49,499 (129 ) 286,648 (3,371 ) Yen in millions March 31, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Debt securities: Available-for-sale Japanese national government bonds 485,941 (18,418 ) 29,424 (191 ) 515,365 (18,609 ) Japanese local government bonds 20,421 (8 ) 15,256 (12 ) 35,677 (20 ) Japanese corporate bonds 73,238 (925 ) 42,310 (550 ) 115,548 (1,475 ) Foreign government bonds 128,085 (20,800 ) 1,522 (19 ) 129,607 (20,819 ) Foreign corporate bonds 29,651 (302 ) 12,026 (157 ) 41,677 (459 ) Securitized products — — — — — — Other 1,162 (140 ) — — 1,162 (140 ) Total 738,498 (40,593 ) 100,538 (929 ) 839,036 (41,522 ) |
Summary of Debt Securities Classified as Held to Maturity by Credit Quality Indicator | These debt securities held primarily in the Financial Services segment are substantially all composed of investment grade securities. Yen in millions March 31 2020 2021 Debt securities: Held-to-maturity AAA 5,516 69,161 AA 1,193,053 1,465,168 A 6,219,943 6,202,576 BBB — — Other — — Total 7,418,512 7,736,905 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Components of lease cost | The components of lease cost are as follows: Yen in millions Fiscal year ended March 31 2020 2021 Finance Lease cost Amortization of right-of-use 10,077 7,795 Interest on lease liabilities 1,266 863 Total finance lease cost 11,343 8,658 Operating lease cost 76,863 80,309 Short-term lease cost 20,620 17,805 Variable lease cost 141 108 Sublease income (3,860 ) (2,256 ) Total lease cost 105,107 104,624 |
Summary of Supplemental consolidated balance sheet information related to leases | Supplemental consolidated balance sheet information related to leases is as follows: Yen in millions March 31 2020 2021 Finance leases Current portion of long-term debt 9,240 7,382 Long-term debt 29,843 43,684 Total finance lease liabilities 39,083 51,066 March 31 2020 2021 Weighted average remaining lease term Operating leases 8.61 years 8.08 years Finance leases 9.91 years 16.85 years March 31 2020 2021 Weighted average discount rate Operating leases 2.338 % 2.119 % Finance leases 3.147 % 1.776 % |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities as of March 31, 2021 are as follows: Yen in millions Fiscal year ending March 31 Operating leases Finance leases 2022 79,980 8,309 2023 65,595 6,909 2024 55,127 5,067 2025 36,893 4,306 2026 29,850 2,941 Later fiscal years 130,838 33,869 Total lease payments 398,283 61,401 Less imputed interest 34,662 10,335 Total 363,621 51,066 |
Summary of other information related to leases | Other information related to leases is as follows: Yen in millions Fiscal year ended 2020 2021 Cash paid for amounts included in the measurement of lease liabilities Payments for operating leases, included in cash flows from operating activities 71,612 75,907 Payments for finance leases, included in cash flows from financing activities 33,088 9,311 Right-of-use 124,380 46,710 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets other than Goodwill and Weighted-Average Amortization Period | Intangible assets other than goodwill acquired during the fiscal year ended March 31, 2021 totaled 187,596 million yen, which are subject to amortization, and are comprised of the following: Intangible assets acquired during the fiscal year Weighted-average Yen in millions Years Patent rights, know-how 14,131 5 Software to be sold, leased or otherwise marketed 17,255 3 Internal-use 87,788 5 Music catalogs 61,341 19 Other 7,081 3 |
Intangible Assets Subject to Amortization | Intangible assets subject to amortization are comprised of the following: Yen in millions March 31, 2020 March 31, 2021 Gross carrying Accumulated Gross carrying Accumulated Patent rights, know-how 173,800 (154,772 ) 180,379 (143,448 ) Customer relationships 16,104 (12,467 ) 18,681 (13,962 ) Trademarks 11,115 (6,079 ) 11,177 (6,394 ) Software to be sold, leased or otherwise marketed 141,111 (110,663 ) 156,820 (124,819 ) Internal-use 594,109 (384,236 ) 660,133 (437,438 ) Music catalogs 612,266 (124,787 ) 708,320 (151,568 ) Artist contracts 41,764 (29,017 ) 42,902 (30,425 ) Television carriage contracts (broadcasting agreements) 53,266 (21,645 ) 55,752 (27,162 ) Other 56,769 (42,631 ) 63,102 (57,001 ) Total 1,700,304 (886,297 ) 1,897,266 (992,217 ) |
Estimated Aggregate Amortization Expense for Intangible Assets | The estimated aggregate amortization expense for intangible assets for the next five fiscal years is as follows: Fiscal year ending March 31 Yen in millions 2022 102,884 2023 88,057 2024 66,244 2025 48,197 2026 33,799 |
Total Carrying Amount of Intangible Assets having Indefinite Life | Total carrying amount of intangible assets having an indefinite life is comprised of the following: Yen in millions March 31 2020 2021 Trademarks 69,975 70,265 Distribution agreements 18,834 18,834 Other 3,494 2,157 Total 92,303 91,256 |
Changes in Carrying Amount of Goodwill by Segment | The changes in the carrying amount of goodwill by segment for the fiscal years ended March 31, 2020 and 2021 are as follows: G&NS Music Pictures EP&S I&SS Financial All Other Total Balance, March 31, 2019: Goodwill — gross 153,955 403,676 252,262 194,416 46,564 7,931 28,570 1,087,374 Accumulated impairments — (306 ) (106,778 ) (182,462 ) — (706 ) (28,570 ) (318,822 ) Goodwill 153,955 403,370 145,484 11,954 46,564 7,225 — 768,552 Increase (decrease) due to: Acquisitions 17,945 2,956 14,889 364 — 3,609 — 39,763 Sales and dispositions — — (609 ) — — — — (609 ) Impairments — — — — — — — — Translation adjustments (926 ) (13,802 ) (5,410 ) (129 ) (372 ) — — (20,639 ) Other — (1,199 ) (1,980 ) — — — — (3,179 ) Balance, March 31, 2020: Goodwill — gross 170,974 391,631 257,074 194,635 46,192 11,540 28,269 1,100,315 Accumulated impairments — (306 ) (104,700 ) (182,446 ) — (706 ) (28,269 ) (316,427 ) Goodwill 170,974 391,325 152,374 12,189 46,192 10,834 — 783,888 Increase (decrease) due to: Acquisitions — 1,791 13,007 5,156 — — — 19,954 Sales and dispositions — (902 ) (392 ) — — — — (1,294 ) Impairments — — — — — — — — Translation adjustments 1,386 16,609 6,026 267 318 — — 24,606 Other — — 1,467 (1,472 ) — — — (5 ) Balance, March 31, 2021: Goodwill — gross 172,360 409,129 278,991 198,600 46,510 11,540 28,526 1,145,656 Accumulated impairments — (306 ) (106,509 ) (182,460 ) — (706 ) (28,526 ) (318,507 ) Goodwill 172,360 408,823 172,482 16,140 46,510 10,834 — 827,149 |
Insurance-related accounts (Tab
Insurance-related accounts (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Insurance [Abstract] | |
Policyholders' Account in Life Insurance Business | At March 31, 2020 and 2021, policyholders’ account in the life insurance business is comprised of the following: Yen in millions March 31 2020 2021 Universal life insurance 2,611,577 3,067,791 Investment contracts 885,690 1,103,785 Other 145,004 159,489 Total 3,642,271 4,331,065 |
Schedule of Net Amount of Risk by Product and Guarantee | The policyholders’ account value, net amount at risk, liability for the minimum guarantee benefit, and average attained age at March 31, 2020 and 2021 are as follows. Yen in millions March 31, 2020 Variable annuities Variable life Total Policyholders’ account value 464,093 1,096,935 1,561,028 Net amount at risk 71,685 4,564,214 4,635,899 Liability for minimum guarantee benefit 64,045 79,860 143,905 Age March 31 2020 Variable annuities Variable life Average attained age 60 45 Yen in millions March 31, 2021 Variable annuities Variable life Total Policyholders’ account value 490,152 1,486,001 1,976,153 Net amount at risk 50,861 5,074,637 5,125,498 Liability for minimum guarantee benefit 42,309 58,246 100,555 Age March 31 2021 Variable annuities Variable life Average attained age 61 45 |
Short-term borrowings and lon_2
Short-term borrowings and long-term debt (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | Short-term borrowings are comprised of the following: Yen in millions March 31 2020 2021 Unsecured loans: with a weighted-average interest rate of 0.86% 91,725 with a weighted-average interest rate of 0.77% 58,659 Repurchase agreement: with a weighted-average interest rate of 0.93% 567,194 with a weighted-average interest rate of 0.06% 917,792 Call money: with a weighted-average interest rate of 0.13% 151,257 with a weighted-average interest rate of -0.03% 211,417 810,176 1,187,868 |
Long-Term Debt | Long-term debt is comprised of the following: Yen in millions March 31 2020 2021 Unsecured loans, representing obligations principally to banks: Due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum 17,880 Due 2021 to 2030, with interest rates ranging from 0.01 % to 5.10 % per annum 238,196 Unsecured 0.23% bonds, due 2021 89,894 89,969 Unsecured 0.11% bonds, due 2022 10,000 10,000 Unsecured 1.41% bonds, due 2022 10,000 10,000 Unsecured 0.28% bonds, due 2023 15,000 15,000 Unsecured 0.13% bonds, due 2024 29,886 29,911 Unsecured 0.15% bonds, due 2024 9,971 Unsecured 0.22% bonds, due 2025 10,000 10,000 Unsecured 0.18% bonds, due 2026 10,000 10,000 Unsecured 0.20% bonds, due 2026 19,943 Unsecured 0.42% bonds, due 2026 24,923 24,935 Unsecured 0.30% bonds, due 2029 59,738 59,760 Unsecured zero coupon convertible bonds, due 2022: Conversion price 4,996.0 yen per common share 119,531 Conversion price 4,982.5 yen per common share 41,189 Secured 0.00% loans, due 2022 to 2023 201,205 Secured 0.00% loans, due 2021 to 2026 240,019 Finance lease liabilities and other: Due 2020 to 2050, with interest rates ranging from 0.01% to 12.59% per annum 56,350 Due 2021 to 2051, with interest rates ranging from 0.01% to 5.45% per annum 85,564 Guarantee deposits received 10,366 10,536 664,773 904,993 Less — Portion due within one year 29,807 131,699 634,966 773,294 |
Aggregate Amounts of Annual Maturities of Long-Term Debt | Aggregate amounts of annual maturities of long-term debt are as follows: Fiscal year ending March 31 Yen in millions 2022 131,699 2023 106,626 2024 95,016 2025 188,572 2026 26,867 Later fiscal years 356,213 Total 904,993 |
Housing loans and deposits fr_2
Housing loans and deposits from customers in the banking business (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Banking And Thrifts [Abstract] | |
Summary of Amortized Cost of Housing Loans in the Banking Business by Both Credit Quality Indicator Based On The Credit Ratings of Debtors and Year of Origination | The following table presents the amortized cost of housing loans in the banking business by credit quality indicator based on the credit ratings of debtors as of March 31, 2020. Yen in millions March 31, 2020 Housing loans by the credit ratings of debtors: Normal* 1,923,648 Other than normal 3,406 Total 1,927,054 * Normal is defined as borrowers who do not have particular problems with their financial position. The following table presents the amortized cost of housing loans in the banking business by both credit quality indicator based on the credit ratings of debtors and year of origination as of March 31, 2021. Yen in millions March 31, 2021 Amortized Cost by Origination Year Fiscal year ended March 31 2021 2020 2019 2018 2017 Prior Total Housing loans by the credit ratings of debtors: Normal* 547,133 349,334 252,609 158,546 269,450 772,072 2,349,144 Other than normal 212 136 358 265 218 4,213 5,402 Total assets 547,345 349,470 252,967 158,811 269,668 776,285 2,354,546 * Normal is defined as borrowers who do not have particular problems with their financial position. |
Aggregate Amounts of Annual Maturities of Time Deposits and Thrift Saving Deposits with Remaining Term of More Than One Year | At March 31, 2021, aggregate amounts of annual maturities of time deposits and thrift saving deposits with a remaining term of more than one year are as follows: Fiscal year ending March 31 Yen in millions 2023 36,586 2024 19,643 2025 3,135 2026 3,159 2027 400 Later fiscal years 28,805 Total 91,728 |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured on Recurring Basis | The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis at March , and are as follows. Yen in millions March 31, 2020 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 24,330 245,790 — 270,120 270,120 — — — Available-for-sale Japanese national government bonds — 1,761,929 — 1,761,929 10,011 1,751,918 — — Japanese local government bonds — 69,172 — 69,172 15,334 53,838 — — Japanese corporate bonds — 220,679 30 220,709 14,774 205,935 — — Foreign government bonds *1 — 279,777 — 279,777 2,690 277,087 — — Foreign corporate bonds *2 — 343,980 15,770 359,750 94,156 265,594 — — Securitized products *3 — 33,383 171,840 205,223 — 205,223 — — Other — 4,152 12,101 16,253 — 16,253 — — Equity securities 950,744 581,642 — 1,532,386 1,434,612 97,774 — — Other investments *4 7,162 816 9,242 17,220 — 17,220 — — Derivative assets *5 1,310 41,073 — 42,383 — — 40,784 1,599 Total assets 983,546 3,582,393 208,983 4,774,922 1,841,697 2,890,842 40,784 1,599 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future Policyholders’ Other Other Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 532,191 532,191 64,045 468,146 — — Derivative liabilities *5 2,077 33,789 — 35,866 — — 16,814 19,052 Total liabilities 2,077 33,789 532,191 568,057 64,045 468,146 16,814 19,052 Yen in millions March 31, 2021 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Marketable Securities Other Other Assets: Debt securities Trading securities 30,164 258,731 — 288,895 288,895 — — — Available-for-sale Japanese national government bonds — 2,443,266 — 2,443,266 394,295 2,048,971 — — Japanese local government bonds — 74,063 — 74,063 29,624 44,439 — — Japanese corporate bonds — 264,644 7,169 271,813 24,980 246,833 — — Foreign government bonds *1 — 325,856 — 325,856 — 325,856 — — Foreign corporate bonds *2 — 365,029 17,845 382,874 117,209 265,665 — — Securitized products *3 — 44,104 154,489 198,593 — 198,593 — — Other — 21,466 24,355 45,821 — 45,821 — — Equity securities 1,757,134 704,214 — 2,461,348 2,044,763 416,585 — — Other investments *4 7,544 4,128 9,326 20,998 — 20,998 — — Derivative assets *5 261 28,476 — 28,737 — — 14,412 14,325 Total assets 1,795,103 4,533,977 213,184 6,542,264 2,899,766 3,613,761 14,412 14,325 Presentation in the consolidated balance sheets Level 1 Level 2 Level 3 Total Future Policyholders’ Other Other Liabilities: Future insurance policy benefits and policyholders’ account in the life insurance business *6 — — 536,189 536,189 42,309 493,880 — — Derivative liabilities *5 1,116 39,238 — 40,354 — — 26,086 14,268 Total liabilities 1,116 39,238 536,189 576,543 42,309 493,880 26,086 14,268 *1 7,771 million yen and 15,654 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021. In the consolidated balance sheets, 2,386 million yen are included as marketable securities for the fiscal years ended March 31, 2020 and 5,385 million yen and 15,654 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. *2 188,426 million yen and 228,761 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021, respectively. In the consolidated balance sheets, 34,502 million yen and 52,637 million yen are included as marketable securities and 153,924 million yen and 176,124 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. *3 193,430 million yen and 192,451 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2020 and 2021, respectively, and are included in the consolidated balance sheets as securities investments and other. *4 Other investments include certain hybrid financial instruments and certain private equity investments. *5 Derivative assets and liabilities are recognized and disclosed on a gross basis. *6 Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. 7 Net loss of 12,408 million yen and net gains of 4,645 million yen arising from assets and liabilities for which the fair value option has been elected are included in financial services revenue and financial services expense in the consolidated statements of income for the fiscal years ended March 31, 2020 and 2021, respectively. |
Changes in Fair Value of Level Three Assets and Liabilities | The changes in fair value of level 3 assets and liabilities for the fiscal years ended March 31, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31, 2020 Assets Liabilities Debt securities Future Available-for-sale Japanese Foreign Securitized Other Other Beginning balance — 22,704 165,083 — 6,918 — Acquisition of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. *1 — — — — — 547,190 Total realized and unrealized gains (losses): Included in earnings (loss) *2 — 311 (18,151 ) — (500 ) 12,500 Included in other comprehensive income (loss) *3 — (73 ) 1 — — 3,032 Purchases and Issuances 30 13,597 40,175 12,101 4,711 5,295 Sales — — — — (9 ) — Settlements — (20,867 ) (12,967 ) — (1,878 ) (4,762 ) Transfers into level 3 *4 — 3,374 — — — — Transfers out of level 3 *5 — (3,276 ) (2,301 ) — — — Ending balance 30 15,770 171,840 12,101 9,242 532,191 Changes in unrealized gains (losses) relating to instruments still held at reporting date: Included in earnings (loss) *2 — (94 ) (16,507 ) — (376 ) 10,273 Yen in millions Fiscal year ended March 31, 2021 Assets Liabilities Debt securities Future Available-for-sale Japanese Foreign Securitized Other Other Beginning balance 30 15,770 171,840 12,101 9,242 532,191 Total realized and unrealized gains (losses): Included in earnings (loss)* 2 — 1,465 14,000 5,703 772 (16,475 ) Included in other comprehensive income (loss)* 3 (461 ) 73 — (11 ) — (3,120 ) Purchases and Issuances 7,600 5,441 — 11,215 28 1,996 Sales — — — — (2 ) — Settlements — (7,835 ) (34,488 ) (4,681 ) (825 ) (17,593 ) Other — (1,613 ) 1,014 28 111 Transfers into level 3* 4 — 4,544 2,123 — — — Ending balance 7,169 17,845 154,489 24,355 9,326 536,189 Changes in unrealized gains (losses) Included in earnings (loss)* 2 — 600 17,419 — (77 ) (29,205 ) Included in other comprehensive income (loss)* 3 (461 ) 14 — (17 ) — (3,120 ) *1 Refer to Note 24. *2 Earning effects are included in financial services revenue and financial services expense in the consolidated statements of income. *3 Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale *4 Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. *5 Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. |
Assets and Liabilities Remeasured at Fair Value on a Nonrecurring Basis | During the fiscal years ended March 31, 2020 and 2021, such remeasurements to fair value related primarily to the following: During the fiscal year ended March 31, 2020 Estimated fair value Amounts included Level 1 Level 2 Level 3 Assets: Remeasurement of retained investment in SRE 15,911 — — 13,347 Long-lived assets impairments — — 8,155 (36,003 ) (22,656 ) During the fiscal year ended March 31, 2021 Estimated fair value Amounts included Level 1 Level 2 Level 3 Assets: Long-lived assets impairments — — 32,033 (25,685 ) (25,685 ) |
Estimated Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments not Reported at Fair Value | The estimated fair values by fair value hierarchy level of certain financial instruments that are not reported at fair value are summarized as follows: Yen in millions March 31, 2020 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — 2,161,432 — 2,161,432 1,927,054 Total assets — 2,161,432 — 2,161,432 1,927,054 Liabilities: Long-term debt including the current portion — 699,358 — 699,358 664,773 Investment contracts included in policyholders’ account in the life insurance business — 969,464 — 969,464 885,690 Total liabilities — 1,668,822 — 1,668,822 1,550,463 Yen in millions March 31, 2021 Estimated fair value Carrying Level 1 Level 2 Level 3 Total Total Assets: Housing loans in the banking business — — 2,559,073 2,559,073 2,354,546 Total assets — — 2,559,073 2,559,073 2,354,546 Liabilities: Long-term debt including the current portion — 911,885 39,989 951,874 904,993 Investment contracts included in policyholders’ account in the life insurance business — 1,159,195 — 1,159,195 1,103,785 Total liabilities — 2,071,080 39,989 2,111,069 2,008,778 |
Derivative instruments and he_2
Derivative instruments and hedging activities (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Estimated Fair Values of Outstanding Derivative Instruments | The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows: Derivatives designated as hedging Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2020 2021 Liability derivatives 2020 2021 Interest rate contracts Prepaid expenses and other current assets 9 — Current liabilities: Other 183 286 Interest rate contracts Other assets: Other 27 10,921 Liabilities: Other 8,177 6,064 Foreign exchange contracts Prepaid expenses and other current assets 1,799 8 Current liabilities: Other — 6,000 1,835 10,929 8,360 12,350 Derivatives not designated as Yen in millions Balance sheet location Fair value Balance sheet location Fair value March 31 March 31 Asset derivatives 2020 2021 Liability derivatives 2020 2021 Interest rate contracts Prepaid expenses and other current assets 44 50 Current liabilities: Other 200 408 Interest rate contracts Other assets: Other 1,523 1,817 Liabilities: Other 9,120 8,204 Foreign exchange contracts Prepaid expenses and other current assets 19,655 14,097 Current liabilities: Other 14,580 14,233 Foreign exchange contracts Other assets: Other 49 1,587 Liabilities: Other 1,755 — Equity contracts Prepaid expenses and other current assets 18,886 240 Current liabilities: Other 1,476 5,157 Bond contracts Prepaid expenses and other current assets 306 17 Current liabilities: Other 290 2 Commodity contracts Prepaid expenses and other current assets 85 — Current liabilities: Other 85 0 40,548 17,808 27,506 28,004 Total derivatives 42,383 28,737 35,866 40,354 |
Effects of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income | Presented below are the effects of derivative instruments on the consolidated statements of income and the consolidated statements of comprehensive income for the fiscal years ended March 31, 2019, 2020 and 2021. Derivatives under fair value hedging relationships Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2019 2020 2021 Interest rate contracts Financial services revenue (1,835 ) (3,925 ) (1,189 ) Total (1,835 ) (3,925 ) (1,189 ) Yen in millions Derivatives under cash flow hedging relationships Fiscal year ended March 31 2019 2020 2021 Amounts recognized in unrealized gains (losses) on derivative Interest rate contracts: Components included in — — 10,153 Foreign exchange contracts: Components included in 2,315 1,712 (2,210 ) Components excluded from — 1,087 263 Total 2,315 2,799 8,206 Yen in millions Derivatives under cash flow hedging relationships Affected line item in consolidated statements of income Fiscal year ended March 31 2019 2020 2021 Amounts reclassified from unrealized Interest rate contracts: Components included in Interest — — 285 Foreign exchange contracts: — Components included in Cost of sales (1,093 ) — — Components included in Net sales — 106 (5,382 ) Components excluded from Net sales — (1,087 ) (263 ) Total (1,093 ) (981 ) (5,360 ) Derivatives not designated as Yen in millions Location of gains or (losses) recognized Amounts of gains or (losses) recognized Fiscal year ended March 31 2019 2020 2021 Interest rate contracts Financial services revenue (3,192 ) 1,190 (9,603 ) Foreign exchange contracts Financial services revenue (8,198 ) 2,473 (10,730 ) Foreign exchange contracts Foreign exchange loss, net (7,437 ) 10,184 (8,454 ) Equity contracts Financial services revenue (7,649 ) 15,438 (85,118 ) Bond contracts Financial services revenue — (2,954 ) 99 Commodity contracts Financial services revenue — 110 4,790 Total (26,476 ) 26,441 (109,016 ) Presented below are the amortized cost of hedged items, which are available-for-sale Derivatives under fair value hedging relationships Yen in millions Balance sheet location of March 31, 2020 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 15,255 — Interest rate contracts Securities investments and other 91,080 — Total 106,335 — Derivatives under fair value hedging relationships Yen in millions Balance sheet location of March 31, 2021 Amortized cost Cumulative effect to carrying amount of hedged items by fair value hedges Interest rate contracts Marketable securities 30,167 — Interest rate contracts Securities investments and other 74,872 — Total 105,039 — |
Summary of Derivatives Additional Information Including Notional Amounts | The following table summarizes additional information, including notional amounts, for each type of derivative: Yen in millions March 31, 2020 March 31, 2021 Notional Fair value Notional Fair value Foreign exchange contracts: Foreign exchange forward contracts* 989,966 3,201 1,176,589 (5,420 ) Currency option contracts purchased 473 7 36,234 15 Currency option contracts written 460 (5 ) 36,164 (1,790 ) Currency swap agreements 893,874 (1,006 ) 612,813 490 Other currency contracts* 62,080 2,971 68,663 2,164 Interest rate contracts: Interest rate swap agreements 994,133 (16,019 ) 979,554 (1,969 ) Interest rate swaption agreements 18,700 (58 ) 38,700 (205 ) Equity contracts: Equity future contracts 63,354 (871 ) 129,526 (746 ) Equity swap agreements 103,409 18,281 117,055 (4,171 ) Bond contracts: Bond future contracts 56,546 16 169,441 15 Commodity contracts: Commodity future contracts 1,465 0 2,957 (0 ) * Revision has been made to correct the notional amount of foreign exchange forward contracts and the presentation of fair values of foreign exchange forward contracts and other currency contracts as of March 31, 2020. |
Summary of Effects of Offsetting Derivative Assets, Derivative Liabilities, Financial Assets and Financial Liabilities | Yen in millions As of March 31, 2020 Gross amounts Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 38,281 12,614 20,545 5,122 Derivative assets not subject to master netting agreements 4,102 4,102 Total assets 42,383 12,614 20,545 9,224 Derivative liabilities subject to master netting agreements 31,896 7,086 23,873 937 Derivative liabilities not subject to master netting agreements 3,970 3,970 Repurchase, securities lending and similar arrangements 567,194 564,874 — 2,320 Total liabilities 603,060 571,960 23,873 7,227 Yen in millions As of March 31, 2021 Gross amounts Gross amounts not offset in the Financial Cash collateral Net amounts Derivative assets subject to master netting agreements 15,159 10,666 2,008 2,485 Derivative assets not subject to master netting agreements 13,578 13,578 Securities borrowing and securities lending transactions 326,156 326,156 — Total assets 354,893 336,822 2,008 16,063 Derivative liabilities subject to master netting agreements 38,966 11,052 16,225 11,689 Derivative liabilities not subject to master netting agreements 1,388 1,388 Repurchase, securities lending and similar arrangements 917,792 911,881 — 5,911 Total liabilities 958,146 922,933 16,225 18,988 |
Pension and severance plans (Ta
Pension and severance plans (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Costs | The components of net periodic benefit costs for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Japanese plans: Yen in millions Fiscal year ended March 31 2019 2020 2021 Service cost 23,128 17,948 12,763 Interest cost 7,020 4,162 3,684 Expected return on plan assets (16,695 ) (17,040 ) (10,802 ) Recognized actuarial loss 15,365 12,969 8,852 Amortization of prior service costs (7,864 ) (4,294 ) (343 ) Losses on curtailments and settlements — 6,358 — Net periodic benefit costs 20,954 20,103 14,154 Foreign plans: Yen in millions Fiscal year ended March 31 2019 2020 2021 Service cost 2,780 3,616 2,767 Interest cost 10,083 9,212 6,509 Expected return on plan assets (11,797 ) (10,916 ) (6,395 ) Recognized actuarial loss 2,656 2,606 3,614 Amortization of prior service costs (269 ) 2 1,058 Losses on curtailments and settlements 1,804 68 2,128 Net periodic benefit costs 5,257 4,588 9,681 |
Changes in Benefit Obligation and Plan Assets as well as Funded Status and Composition of Amounts Recognized in Consolidated Balance Sheets | The changes in the benefit obligation and plan assets as well as the funded status and composition of amounts recognized in the consolidated balance sheets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Change in benefit obligation: Benefit obligation at beginning of the fiscal year 1,034,954 658,863 351,918 359,811 Service cost 17,948 12,763 3,616 2,767 Interest cost 4,162 3,684 9,212 6,509 Plan participants’ contributions — — 487 269 Plan amendments — — 10,210 157 Actuarial (gain) loss (3,330 ) 271 19,776 32,432 Foreign currency exchange rate changes — — (16,919 ) 29,486 Curtailments and settlements (359,205 ) — (4,434 ) (14,587 ) Other 2 43 — — Benefits paid (35,668 ) (35,563 ) (14,055 ) (18,555 ) Benefit obligation at end of the fiscal year 658,863 640,061 359,811 398,289 Change in plan assets: Fair value of plan assets at beginning of the fiscal year 742,204 437,206 274,749 281,110 Actual return on plan assets 2,942 59,536 26,738 (596 ) Foreign currency exchange rate changes — — (14,904 ) 25,433 Employer contribution 7,453 2,333 9,916 38,169 Plan participants’ contributions — — 487 269 Curtailments and settlements (284,333 ) — (3,146 ) (11,927 ) Benefits paid (31,060 ) (22,664 ) (12,730 ) (16,967 ) Fair value of plan assets at end of the fiscal year 437,206 476,411 281,110 315,491 Funded status at end of the fiscal year (221,657 ) (163,650 ) (78,701 ) (82,798 ) |
Amounts Recognized in Consolidated Balance Sheets | Amounts recognized in the consolidated balance sheets consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Noncurrent assets 3,391 5,746 24,777 13,660 Current liabilities — — (4,355 ) (12,364 ) Noncurrent liabilities (225,048 ) (169,396 ) (99,123 ) (84,094 ) Ending balance (221,657 ) (163,650 ) (78,701 ) (82,798 ) |
Amounts Recognized in Accumulated Other Comprehensive Income, Excluding Tax Effect | Amounts recognized in accumulated other comprehensive income, excluding tax effects, consist of: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Prior service cost (credit) (369 ) (26 ) 10,058 9,350 Net actuarial loss 223,354 163,401 66,326 102,821 Ending balance 222,985 163,375 76,384 112,171 |
Accumulated Benefit Obligations for All Defined Benefit Pension Plans | The accumulated benefit obligations for all defined benefit pension plans were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Accumulated benefit obligations 654,209 635,285 354,100 392,375 |
Accumulated Benefit Obligations and Fair Value of Plan Assets for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets | The accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Accumulated benefit obligations 640,890 621,296 226,080 200,020 Fair value of plan assets 420,497 456,662 130,955 109,468 |
Summary of the projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets | The projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets were as follows: Japanese plans Foreign plans Yen in millions Yen in millions March 31 March 31 2020 2021 2020 2021 Projected benefit obligations 645,544 626,057 234,652 205,915 Fair value of plan assets 420,497 456,662 131,546 109,468 |
Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs | Weighted-average assumptions used to determine benefit obligations as of March 31, 2020 and 2021 were as follows: Japanese plans Foreign plans March 31 March 31 2020 2021 2020 2021 Discount rate 0.6 % 0.6 % 2.0 % 1.4 % Interest crediting rate 3.4 3.4 4.8 4.8 Rate of compensation increase * * 2.2 2.5 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. Weighted-average assumptions used to determine the net periodic benefit costs for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Japanese plans Foreign plans Fiscal year ended March 31 Fiscal year ended March 31 2019 2020 2021 2019 2020 2021 Discount rate 0.8 % 0.6 % 0.6 % 2.9 % 2.8 % 2.0 % Expected return on plan assets 2.6 2.6 2.5 4.4 4.2 2.3 Interest crediting rate 3.5 3.5 3.4 4.8 4.8 4.8 Rate of compensation increase * * * 2.6 2.3 2.2 * Substantially all of Sony’s Japanese pension plans were point-based. Point-based plans do not incorporate a measure of compensation rate increases. |
Fair Values of Assets Held by Japanese and Foreign Plans | The fair values of the assets held by Japanese and foreign plans, which are classified in accordance with the fair value hierarchy described in Note 2, are as follows: Japanese plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 24,851 24,851 — — Equity: Equity securities *1 50,646 47,308 3,338 — Fixed income: Government bonds *2 107,478 1,087 106,391 — Corporate bonds *3 71,192 20 71,172 — Asset-backed securities *4 1,090 — 1,090 — Commingled funds *5 58,740 — 58,740 — Commodity funds *6 21,823 — 21,823 — Private equity *7 30,191 — — 30,191 Hedge funds *8 48,410 — — 48,410 Real estate and other *9 22,785 — (2,586 ) 25,371 Total 437,206 73,266 259,968 103,972 Japanese plans Yen in millions Fair value at March 31, 2021 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 53,298 53,298 — — Equity: Equity securities *1 63,927 59,946 3,981 — Fixed income: Government bonds *2 116,687 1,149 115,538 — Corporate bonds *3 30,348 19 30,329 — Asset-backed securities *4 1,029 — 1,029 — Commingled funds *5 89,281 — 89,281 — Commodity funds *6 22,283 — 22,283 — Private equity *7 29,153 — — 29,153 Hedge funds *8 47,384 — — 47,384 Real estate and other *9 23,021 — (2,488 ) 25,509 Tota l 476,411 114,412 259,953 102,046 *1 Includes approximately 37 42 63 58 *2 Includes approximately 36 64 *3 Includes debt securities issued by Japanese and foreign corporation and government related agencies. *4 Includes primarily mortgage-backed securities. *5 Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 54 45 43 5 3 *6 Represents commodity futures funds. *7 Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. *8 Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. *9 Includes primarily private real estate investment trusts. Foreign plans Yen in millions Fair value at March 31, 2020 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 4,632 4,632 — — Equity: Equity securities *1 18,380 17,762 618 — Fixed income: Government bonds *2 93,826 — 93,826 — Corporate bonds *3 31,769 — 31,769 — Asset-backed securities 1,320 — 1,320 — Insurance contracts *4 19,334 — 7,156 12,178 Commingled funds *5 78,280 — 78,280 — Real estate and other *6 33,569 — 11,272 22,297 Total 281,110 22,394 224,241 34,475 Foreign plans Yen in millions Fair value at March 31, 2021 Fair value measurements using inputs considered as Asset class Level 1 Level 2 Level 3 Cash and cash equivalents 5,914 5,914 — — Equity: Equity securities *1 11,349 10,631 718 — Fixed income: Government bonds *2 18,843 — 18,843 — Corporate bonds *3 59,071 — 59,071 — Asset-backed securities 120 — 120 — Insurance contracts *4 156,567 — 7,480 149,087 Commingled funds *5 59,867 — 59,867 — Other 3,760 — 69 3,691 Total 315,491 16,545 146,168 152,778 *1 Includes primarily foreign equity securities. *2 Includes primarily foreign government debt securities. *3 Includes primarily foreign corporate debt securities. *4 Includes annuity contracts with or without profit sharing and bulk insurance contracts. *5 Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. *6 Includes primarily private real estate investment trusts. |
Summary of Changes in Fair Values of Japanese and Foreign Plans' Level Three Assets | The following table sets forth a summary of changes in the fair values of Japanese and foreign plans’ level 3 assets for the fiscal years ended March 31, 2020 and 2021 : Japanese plans Yen in millions Fair value measurement using significant unobservable inputs Private equity Hedge funds Real estate and other Total Beginning balance at April 1, 2019 27,956 71,606 21,392 120,954 Return on assets held at end of year 2,649 (648 ) 418 2,419 Purchases, sales, and settlements, net (414 ) (22,548 ) 3,561 (19,401 ) Ending balance at March 31, 2020 30,191 48,410 25,371 103,972 Return on assets held at end of year 7,793 4,199 1,558 13,550 Purchases, sales, and settlements, net (1,083 ) (4,182 ) 178 (5,087 ) Transfers, net (7,748 ) (1,043 ) (1,598 ) (10,389 ) Ending balance at March 31, 2021 29,153 47,384 25,509 102,046 Foreign plans Yen in millions Fair value measurement using significant Insurance Real estate and other Total Beginning balance at April 1, 2019 12,494 22,089 34,583 Return on assets held at end of year 559 132 691 Purchases, sales, and settlements, net (373 ) 755 382 Other * (502 ) (679 ) (1,181 ) Ending balance at March 31, 2020 12,178 22,297 34,475 Return on assets held at end of year (3,904 ) (402 ) (4,306 ) Purchases, sales, and settlements, net 139,769 (19,605 ) 120,164 Other * 1,044 1,401 2,445 Ending balance at March 31, 2021 149,087 3,691 152,778 |
Expected Future Benefit Payments | The expected future benefit payments are as follows: Japanese plans Foreign plans Fiscal year ending March 31 Yen in millions Yen in millions 2022 38,662 106,434 2023 36,885 12,742 2024 38,468 13,063 2025 37,414 13,633 2026 37,947 13,735 2027 — 2031 183,084 76,482 |
Total Defined Contribution Expenses | Total defined contribution expenses for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Japanese plans 3,353 6,925 10,992 Foreign plans 11,602 10,313 9,639 |
Stockholders' equity (Tables)
Stockholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Changes in Number of Shares of Common Stock Issued and Outstanding | Changes in the number of shares of common stock issued and outstanding during the fiscal years ended March 31, 2019, 2020 and 2021 have resulted from the following: Number of shares Balance at March 31, 2018 1,266,552,149 Issuance of new shares 149,900 Exercise of stock acquisition rights 4,525,300 Conversion of convertible bonds 2,992 Balance at March 31, 2019 1,271,230,341 Issuance of new shares 184,900 Exercise of stock acquisition rights 2,294,900 Conversion of convertible bonds 86,040 Cancellation of treasury stock (12,737,400 ) Balance at March 31, 2020 1,261,058,781 Balance at March 31, 2021 1,261,058,781 |
Changes in Accumulated Other Comprehensive Income, Net of Tax | Changes in accumulated other comprehensive income, net of tax, by component for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Unrealized Unrealized Pension liability Foreign Total Balance at March 31, 2018 126,191 (1,242 ) (296,444 ) (445,251 ) (616,746 ) Cumulative effect of ASU (15,526 ) — — — (15,526 ) Other comprehensive income before reclassifications 33,124 2,316 (23,448 ) 10,071 22,063 Amounts reclassified out of accumulated other comprehensive income * 161 (1,093 ) 9,488 (1,627 ) 6,929 Net other comprehensive income 33,285 1,223 (13,960 ) 8,444 28,992 Less: Other comprehensive income attributable to noncontrolling interests 8,915 — 53 (1,578 ) 7,390 Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) (610,670 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2019 135,035 (19 ) (310,457 ) (435,229 ) — (610,670 ) Other comprehensive income before reclassifications 40,334 1,193 (17,519 ) (75,814 ) 3,032 (48,774 ) Amounts reclassified out of accumulated other comprehensive income * 56 74 92,490 (74 ) — 92,546 Net other comprehensive income 40,390 1,267 74,971 (75,888 ) 3,032 43,772 Less: Other comprehensive income attributable to noncontrolling interests 14,234 — 34 (1,245 ) 1,059 14,082 Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) Yen in millions Unrealized Unrealized Pension Foreign Debt Total Balance at March 31, 2020 161,191 1,248 (235,520 ) (509,872 ) 1,973 (580,980 ) Other comprehensive income before reclassifications (102,588 ) 5,571 2,358 107,661 (3,081 ) 9,921 Amounts reclassified out of accumulated other comprehensive income * 96 (4,058 ) 10,607 (835 ) (39 ) 5,771 Net other comprehensive income (102,492 ) 1,513 12,965 106,826 (3,120 ) 15,692 Less: Other comprehensive income attributable to noncontrolling interests (11,971 ) — 3 1,183 (583 ) (11,368 ) Transactions with noncontrolling interests shareholders and other 30,635 — (910 ) (300 ) 475 29,900 Balance at March 31, 2021 101,305 2,761 (223,468 ) (404,529 ) (89 ) (524,020 ) * Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. |
Reclassifications Out of Accumulated Other Comprehensive Income | Reclassifications out of accumulated other comprehensive income for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Comprehensive income components Amounts reclassified from Affected line items in consolidated statements of income 2019 2020 2021 Unrealized gains (losses) on securities 235 82 130 Financial services revenue Tax expense or (benefit) (74 ) (26 ) (34 ) Net of tax 161 56 96 Unrealized gains (losses) on derivative instruments (1,093 ) — — Cost of sales — 106 (5,382 ) Net sales — — 285 Interest Total before tax (1,093 ) 106 (5,097 ) Tax expense or (benefit) — (32 ) 1,039 Net of tax (1,093 ) 74 (4,058 ) Pension liability adjustment 9,891 92,514 13,181 * Tax expense or (benefit) (403 ) (24 ) (2,574 ) Net of tax 9,488 92,490 10,607 Foreign currency translation adjustments (1,627 ) (74 ) (835 ) Foreign exchange loss, net, other operating (income) expense, net and other income: other Tax expense or (benefit) — — — Net of tax (1,627 ) (74 ) (835 ) Debt valuation adjustments — — (39 ) Financial services expenses Tax expense or (benefit) — — — Net of tax — — (39 ) Total amounts reclassified out of accumulated other comprehensive income, net of tax 6,929 92,546 5,771 * The amortization of pension and postretirement benefit components is included in the computation of net periodic pension cost. Refer to Note 15. |
Net Income Attributable to Sony Corporation's Stockholders and Transfers (to) from Noncontrolling Interests | Net income attributable to Sony Group Corporation’s stockholders and transfers (to) from the noncontrolling interests for the fiscal years ended March 31, 2019, 2020 and 2021 were as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Net income attributable to Sony Group Corporation’s stockholders 916,271 582,191 1,171,776 Transfers (to) from the noncontrolling interests: Increase (decrease) in additional paid-in (22,775 ) 16,372 196,002 Change from net income attributable to Sony Group Corporation’s stockholders and transfers (to) from the noncontrolling interests 893,496 598,563 1,367,778 |
Stock-based compensation plans
Stock-based compensation plans (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Weighted-Average Assumptions used to Determine Fair Value of Stock Acquisition Rights Granted | The fair value of stock acquisition rights granted on the date of grant and used to recognize compensation expense for the fiscal years ended March 31, 2019, 2020 and 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Fiscal year ended March 31 2019 2020 2021 Weighted-average assumptions Risk-free interest rate 1.37 % 0.70 % 0.17 % Expected lives 5.98 years 5.73 years 5.41 years Expected volatility * 32.52 % 29.30 % 26.97 % Expected dividends 0.35 % 0.32 % 0.34 % * Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. |
Summary of Activities Regarding Stock Acquisition Rights Plan | A summary of the activities regarding the stock acquisition rights plan during the fiscal year ended March 31, 2021 is as follows: Fiscal year ended March 31, 2021 Number of Weighted- Weighted- Total intrinsic value Yen Years Yen in millions Outstanding at beginning of the fiscal year 12,876,700 4,982 Granted 4,534,600 9,221 Exercised 3,178,300 3,911 Forfeited or expired 210,600 6,280 Outstanding at end of the fiscal year 14,022,400 6,653 7.80 68,218 Exercisable at end of the fiscal year 5,800,700 4,535 6.34 38,794 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Receivables from contracts with customers, Contract Assets and Contract Liabilities | Receivables from contracts with customers, contract assets and contract liabilities are comprised of the following: Yen in millions March 31, 2020 March 31, 2021 Receivables from contracts with customers *1 1,126,597 1,176,828 Contract assets *1 13,985 12,204 Contract liabilities *2 271,286 294,911 *1 Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. *2 Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. |
Summary of Remaining Performance Obligations that are Unsatisfied | The following table shows the summary of the transaction prices allocated to remaining performance obligations that are unsatisfied at March 31, 2021, of which more than half are expected to be recognized within one year and substantially all within three years. Yen in millions March 31, 2021 Pictures — Motion Pictures and Television Productions *1 644,569 Pictures — Media Networks 20,346 Music *2 57,904 Others 47,211 *1 For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. *2 Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. |
Schedule of Contract Costs | Contract costs are comprised as follows: Yen in millions March 31, 2020 March 31, 2021 Incremental costs of obtaining a contract 7,464 8,348 |
Restructuring charges (Tables)
Restructuring charges (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Restructuring and Related Activities [Abstract] | |
Changes in Accrued Restructuring Charges | The changes in the accrued restructuring charges for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Employee Non-cash * Other Total Balance at March 31, 2018 19,486 — 4,188 23,674 Restructuring costs 24,449 2,731 5,825 33,005 Non-cash — (2,731 ) — (2,731 ) Cash payments (19,150 ) — (2,555 ) (21,705 ) Adjustments 955 — (357 ) 598 Balance at March 31, 2019 25,740 — 7,101 32,841 Restructuring costs 22,957 100 1,653 24,710 Non-cash — (100 ) — (100 ) Cash payments (23,385 ) — (6,703 ) (30,088 ) Adjustments (674 ) — (131 ) (805 ) Balance at March 31, 2020 24,638 — 1,920 26,558 Restructuring costs 19,669 2,806 3,240 25,715 Non-cash — (2,806 ) — (2,806 ) Cash payments (24,246 ) — (3,152 ) (27,398 ) Adjustments (891 ) — 144 (747 ) Balance at March 31, 2021 19,170 — 2,152 21,322 * Significant asset impairments excluded from restructuring charges are described in Note 13. |
Total Costs Incurred in Connection with Restructuring Programs by Segment | Total costs incurred in connection with these restructuring programs by segment for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31, 2019 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 2,991 201 3,192 — 3,192 Pictures 4,795 — 4,795 — 4,795 Electronics Products & Solutions 11,437 4,574 16,011 86 16,097 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 5,226 3,781 9,007 — 9,007 Total 24,449 8,556 33,005 86 33,091 Yen in millions Fiscal year ended March 31, 2020 Employee Other associated * Total net Depreciation Total Game & Network Services — — — — — Music 3,179 6 3,185 — 3,185 Pictures 545 — 545 — 545 Electronics Products & Solutions 14,500 227 14,727 — 14,727 Imaging & Sensing Solutions — — — — — Financial Services — — — — — All Other and Corporate 4,733 1,520 6,253 256 6,509 Total 22,957 1,753 24,710 256 24,966 Yen in millions Fiscal year ended March 31, 2021 Employee Other associated * Total net Depreciation Total Game & Network Services 3,524 553 4,077 13 4,090 Music (1,139 ) 96 (1,043 ) — (1,043 ) Pictures 1,519 54 1,573 — 1,573 Electronics Products & Solutions 11,466 4,205 15,671 — 15,671 Imaging & Sensing Solutions 1,362 — 1,362 — 1,362 Financial Services — — — — — All Other and Corporate 2,937 1,138 4,075 148 4,223 Total 19,669 6,046 25,715 161 25,876 * Other associated costs includes non-cash |
Supplemental consolidated sta_2
Supplemental consolidated statements of income information (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Other Income and Expenses [Abstract] | |
Components of Other Operating (Income) Expense, Net | Other operating (income) expense, net is comprised of the following: Yen in millions March 31 2019 2020 2021 Gain on remeasurement of EMI shares *1 (116,939 ) — — Gain on remeasurement and sale of SRE shares *2 — (17,266 ) — Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares *3 — (1,827 ) — (Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net (1,557 ) (12,801 ) (16,895 ) (Gain) loss on sale, disposal or impairment of assets, net* 4 46,928 29,778 23,835 Other — (1,495 ) 528 (71,568 ) (3,611 ) 7,468 *1 Refer to Notes 5 and 24. *2 Refer to Note 5. *3 Refer to Notes 5 and 24. *4 Refer to Notes 9, 13 and 19. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Components of Domestic and Foreign Income and Provision for Current and Deferred Income Taxes | Domestic and foreign components of income before income taxes and the provision for current and deferred income taxes attributable to such income are summarized as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Income before income taxes: Sony Group Corporation and all subsidiaries in Japan 310,020 466,253 488,738 Foreign subsidiaries 701,628 333,197 703,632 1,011,648 799,450 1,192,370 Income taxes — Current: Sony Group Corporation and all subsidiaries in Japan 82,081 105,755 81,706 Foreign subsidiaries 84,667 66,636 72,716 166,748 172,391 154,422 Income taxes — Deferred: Sony Group Corporation and all subsidiaries in Japan 17,907 9,421 (172,095 ) Foreign subsidiaries (139,557 ) (4,622 ) 18,668 (121,650 ) 4,799 (153,427 ) Total income tax expense 45,098 177,190 995 |
Reconciliation of Statutory Tax Rate and Effective Tax Rate | A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: Fiscal year ended March 31 2019 2020 2021 Statutory tax rate 31.5 % 31.5 % 31.5 % Non-deductible 0.7 0.3 0.1 Income tax credits (1.6 ) (1.7 ) (1.2 ) Change in statutory tax rate and law (0.3 ) (0.4 ) (0.1 ) Change in valuation allowances (other than the reversal of valuation allowance in U.S. and Japan national tax below) 2.3 (8.1 ) (5.0 ) The reversal of valuation allowances in the U.S. (15.3 ) — (5.5 ) The reversal of valuation allowances relating to the national tax of Sony Group Corporation and its national tax filing group in Japan — — (18.0 ) Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures (0.1 ) 0.2 0.7 Lower tax rate applied to life and non-life (0.5 ) (0.6 ) (0.4 ) Foreign income tax differential (6.4 ) (2.4 ) (5.0 ) Adjustments to tax reserves (0.3 ) 0.9 (0.3 ) The remeasurement gain for the equity interest in EMI (2.4 ) — — Japan controlled foreign company taxation 0.0 5.3 2.5 Other (3.1 ) (2.8 ) 0.8 Effective income tax rat e 4.5 % 22.2 % 0.1 % |
Components of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31 2020 2021 Deferred tax assets: Operating loss carryforwards for tax purposes 348,714 302,647 Accrued pension and severance costs 77,559 59,608 Amortization including film costs 65,349 45,506 Lease liabilities 100,720 91,186 Warranty reserves and accrued expenses 116,234 138,413 Future insurance policy benefits 42,056 44,023 Inventories 15,512 28,086 Depreciation 39,085 45,096 Tax credit carryforwards 94,900 63,590 Loss on equity securities 11,815 — Allowance for credit losses 9,090 7,958 Impairment of investments 6,029 1,821 Deferred revenue 24,420 24,502 Other 122,591 167,255 Gross deferred tax assets 1,074,074 1,019,691 Less: Valuation allowance (608,243 ) (276,382 ) Total deferred tax assets 465,831 743,309 Deferred tax liabilities: Insurance acquisition costs (170,868 ) (187,155 ) Future insurance policy benefits (193,315 ) (196,045 ) Unbilled accounts receivable in the Pictures segment (26,214 ) (7,894 ) Right-of-use (96,970 ) (85,244 ) Unrealized gains on securities (92,791 ) (51,147 ) Gain on equity securities — (109,218 ) Intangible assets acquired through stock exchange offerings (23,949 ) (23,949 ) Intangible assets derived from EMI Music Publishing acquisition (89,909 ) (93,481 ) Undistributed earnings of foreign subsidiaries and corporate joint ventures (25,359 ) (41,515 ) Investment in M3 (38,303 ) (41,347 ) Other (47,319 ) (65,605 ) Gross deferred tax liabilities (804,997 ) (902,600 ) Net deferred tax liabilities (339,166 ) (159,291 ) |
Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits | A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows: Yen in millions March 31 2019 2020 2021 Balance at beginning of the fiscal year 95,425 50,577 41,268 Reductions for tax positions of prior years (31,396 ) (331 ) (761 ) Additions for tax positions of prior years 3,094 162 52 Additions based on tax positions related to the current year 2,594 8,074 8,267 Settlements (4,235 ) (13,240 ) (4,467 ) Lapse in statute of limitations (14,824 ) (1,251 ) (1,095 ) Foreign currency translation adjustments (81 ) (2,723 ) 2,476 Balance at end of the fiscal year 50,577 41,268 45,740 Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate 35,004 29,539 33,126 |
Reconciliation of the differe_2
Reconciliation of the differences between basic and diluted EPS (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Reconciliation of Differences between Basic and Diluted EPS | Reconciliation of the differences between basic and diluted EPS for the fiscal years ended March 31, 2019, 2020 and 2021 is as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Net income attributable to Sony Group Corporation’s stockholders for basic and diluted EPS computation 916,271 582,191 1,171,776 Thousands of shares Weighted-average shares outstanding 1,266,592 1,234,408 1,230,480 Effect of dilutive securities: Stock acquisition rights 4,088 3,853 4,820 Zero coupon convertible bonds 23,966 23,994 15,392 Weighted-average shares for diluted EPS computation 1,294,646 1,262,255 1,250,692 Yen Basic EPS 723.41 471.64 952.29 Diluted EPS 707.74 461.23 936.90 Potential shares of common stock which were excluded from the computation of diluted EPS for the fiscal years ended March 31, 2019 and 2020 were 5,731 thousand shares, 3,212 thousand shares, respectively. Potential shares of common stock were not excluded from the computation of diluted EPS for the fiscal year ended March 31, 2021. Potential shares related to stock acquisition rights were excluded as anti-dilutive for the fiscal years ended March 31, 2019 and 2020 when the exercise price for those shares was in excess of the average market value of Sony’s common stock for those fiscal years. The zero coupon convertible if-converted method upon |
Variable interest entities (Tab
Variable interest entities (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of the Carrying Value of the Variable Interests | Yen in millions March 31, 2020 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid Equity securities *1 579,773 6,229 — 587,602 Securitized products — 210,641 — 210,641 Foreign corporate bonds *2 41,452 41,036 — 82,488 Other investments — 16,253 21,000 43,719 Total 621,225 274,159 21,000 924,450 Yen in millions March 31, 2021 Presentation in the consolidated balance Maximum Marketable securities Securities investments and other Prepaid Equity securities *1 681,201 6,698 — 688,428 Securitized products — 270,818 — 270,818 Foreign corporate bonds *2 49,011 31,026 — 80,037 Other investments 101 42,525 21,000 83,659 Total 730,313 351,067 21,000 1,122,942 *1 Equity securities include Investment funds. *2 Foreign corporate bonds include repackaged bonds. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Business Acquisition [Line Items] | |
Summary of Purchase Price Allocation | The following table summarizes the preliminary and final fair values assigned to the assets and liabilities of EMI that were recorded in the Music segment. Certain areas of the purchase price allocation were not yet finalized as of the fiscal year ended March 31, 2019, including the valuation of income taxes and residual goodwill. Yen in millions Acquired assets (Preliminary) Measurement Acquired assets (Final) Cash and cash equivalents 12,971 12,971 Notes and accounts receivable, trade and contract assets 32,287 32,287 Prepaid expenses and other current assets 10,220 (98 ) 10,122 Securities investments and other 1,476 1,476 Intangibles, net 420,534 420,534 Goodwill 237,271 (1,206 ) 236,065 Other 10,023 10,023 Total assets 724,782 (1,304 ) 723,478 Notes and accounts payable, trade 1,731 1,731 Accounts payable, other and accrued expenses 70,675 70,675 Accrued income and other taxes 3,082 (69 ) 3,013 Long-term debt 148,621 148,621 Accrued pension and severance costs 1,947 1,947 Deferred income taxes 94,849 (1,235 ) 93,614 Other 5,564 5,564 Total liabilities 326,469 (1,304 ) 325,165 |
Unaudited Supplemental Pro Forma Financial Information | The following unaudited supplemental pro forma financial information presents the combined results of operations of Sony and EMI as though the acquisition had occurred as of the beginning of the fiscal year ended March 31, 2018: Yen in millions, Yen per share amounts Fiscal year ended March 31 2019 Net sales 8,738,209 Operating income 801,973 Net income attributable to Sony Group Corporation’s stockholders 817,629 Per share data: — Basic EPS 645.53 — Diluted EPS 631.55 |
Acquisition of equity interests in joint ventures in the life insurance business | |
Business Acquisition [Line Items] | |
Summary of Purchase Price Allocation | The following table summarizes the fair values assigned to the assets and liabilities of the JVs that were recorded in the Financial Services segment. Yen in millions Cash and cash equivalents 27,380 Marketable securities 530,851 Prepaid expenses and other current assets 21,933 Securities investments and other 15,329 Goodwill 3,609 Other 406 Total assets 599,508 Future insurance policy benefits and other 66,599 Policyholders’ account in the life insurance business 495,248 Other 4,979 Total liabilities 566,826 |
Commitments, contingent liabi_2
Commitments, contingent liabilities and other (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Aggregate Amounts of Year-by-Year Payment of Purchase Commitments | The schedule of the aggregate amounts of year-by-year Fiscal year ending March 31 Yen in millions 2022 519,953 2023 112,975 2024 66,939 2025 53,358 2026 13,786 Later fiscal years 44,389 Total 811,400 |
Changes in Product Warranty Liability | The changes in the product warranty liability for the fiscal years ended March 31, 2019, 2020 and 2021 are as follows: Yen in millions Fiscal year ended March 31 2019 2020 2021 Balance at beginning of the fiscal year 44,717 33,005 31,807 Additional liabilities for warranties 23,041 21,448 19,560 Settlements (in cash or in kind) (26,326 ) (21,491 ) (19,666 ) Changes in estimate for pre-existing (7,370 ) (562 ) (860 ) Translation adjustments (1,057 ) (593 ) 2,010 Balance at end of the fiscal year 33,005 31,807 32,851 |
Business segment information (T
Business segment information (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Components of Segment Sales and Operating Revenue | Segment sales and operating revenue: Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Game & Network Services — Customers 2,224,622 1,919,760 2,604,713 Intersegment 86,250 57,791 51,565 Total 2,310,872 1,977,551 2,656,278 Music — Customers 795,025 838,592 927,250 Intersegment 12,464 11,317 12,617 Total 807,489 849,909 939,867 Pictures — Customers 985,270 1,010,714 757,580 Intersegment 1,603 1,140 1,187 Total 986,873 1,011,854 758,767 Electronics Products & Solutions — Customers 2,303,167 1,969,880 1,902,887 Intersegment 17,461 21,388 17,843 Total 2,320,628 1,991,268 1,920,730 Imaging & Sensing Solutions — Customers 770,622 985,259 937,859 Intersegment 108,708 85,317 74,638 Total 879,330 1,070,576 1,012,497 Financial Services — Customers 1,274,708 1,299,847 1,661,520 Intersegment 7,831 7,901 7,401 Total 1,282,539 1,307,748 1,668,921 All Other — Customers 299,806 214,999 196,517 Intersegment 45,931 36,421 32,736 Total 345,737 251,420 229,253 Corporate and elimination (267,781 ) (200,441 ) (186,953 ) Consolidated total 8,665,687 8,259,885 8,999,360 |
Components of Segment Profit or Loss | Segment profit or loss: Yen in millions Fiscal year ended March 31 2019 2020 2021 Operating income (loss): Game & Network Services 311,092 238,400 342,192 Music 232,487 142,345 188,056 Pictures 54,599 68,157 80,478 Electronics Products & Solutions 76,508 87,276 139,180 Imaging & Sensing Solutions 143,874 235,584 145,876 Financial Services 161,477 129,597 164,582 All Other (11,127 ) 16,288 11,368 Total 968,910 917,647 1,071,732 Corporate and elimination (74,675 ) (72,188 ) (99,867 ) Consolidated operating income 894,235 845,459 971,865 Other income 144,735 21,949 264,235 Other expenses (27,322 ) (67,958 ) (43,730 ) Consolidated income before income taxes 1,011,648 799,450 1,192,370 |
Components of Other Significant Items | Other significant items: Yen in millions Fiscal year ended March 31 2019 2020 2021 Equity in net income (loss) of affiliated companies: Game & Network Services — — — Music (6,915 ) 4,239 570 Pictures 106 (629 ) 123 Electronics Products & Solutions (38 ) 136 (36 ) Imaging & Sensing Solutions — 0 (123 ) Financial Services (682 ) (104 ) — All Other 4,530 5,995 10,953 Consolidated total (2,999 ) 9,637 11,487 Depreciation and amortization: Game & Network Services 29,023 29,135 38,707 Music 21,259 29,137 30,666 Pictures 24,081 21,665 19,330 Electronics Products & Solutions 61,749 63,291 62,145 Imaging & Sensing Solutions 110,746 134,035 152,380 Financial Services, including deferred insurance acquisition costs 91,179 106,667 59,885 All Other 4,940 5,095 4,363 Total 342,977 389,025 367,476 Corporate 31,049 27,617 23,217 Consolidated total 374,026 416,642 390,693 |
Sales and Operating Revenue to External Customers by Product Category | The following table is a breakdown of sales and operating revenue to external customers by product category for each segment. Sony management views each segment as a single operating segment. Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Game & Network Services Digital Software and Add-on 1,102,231 1,010,296 1,454,654 Network Services 326,524 337,265 382,950 Hardware and Others 795,867 572,199 767,109 Total 2,224,622 1,919,760 2,604,713 Music Recorded Music — Streaming 227,513 276,039 337,100 Recorded Music — Others 199,413 191,114 179,167 Music Publishing 106,666 157,478 156,862 Visual Media and Platform 261,433 213,961 254,121 Total 795,025 838,592 927,250 Pictures Motion Pictures 436,017 475,061 271,081 Television Productions 288,816 301,224 267,123 Media Networks 260,437 234,429 219,376 Total 985,270 1,010,714 757,580 Electronics Products & Solutions Televisions 788,423 646,513 709,007 Audio and Video 362,580 346,060 313,975 Still and Video Cameras 421,506 384,142 338,694 Mobile Communications 487,330 362,144 358,580 Other 243,328 231,021 182,631 Total 2,303,167 1,969,880 1,902,887 Imaging & Sensing Solutions 770,622 985,259 937,859 Financial Services 1,274,708 1,299,847 1,661,520 All Other 299,806 214,999 196,517 Corporate 12,467 20,834 11,034 Consolidated total 8,665,687 8,259,885 8,999,360 |
Sales and Operating Revenue Attributed to Countries and Areas Based on Location of External Customers and Long-Lived Assets | Sales and operating revenue attributed to countries and areas based on location of external customers for the fiscal years ended March 31, 2019, 2020 and 2021 and property, plant and equipment, net and right-of-use Yen in millions Fiscal year ended March 31 2019 2020 2021 Sales and operating revenue: Japan 2,591,784 2,472,479 2,962,465 United States 1,982,135 1,864,390 2,153,466 Europe 1,862,166 1,697,791 1,816,244 China 770,416 845,235 762,766 Asia-Pacific 912,193 892,026 861,623 Other Areas 546,993 487,964 442,796 Total 8,665,687 8,259,885 8,999,360 Yen in millions March 31 2020 2021 Property, plant and equipment, net and right-of-use Japan 946,922 999,280 United States 214,226 211,109 Europe 67,799 74,313 China 17,996 16,976 Asia-Pacific 46,932 48,515 Other Areas 7,379 12,335 Total 1,301,254 1,362,528 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2021 | |
Software to be sold, leased or otherwise marketed | |
Summary Of Significant Accounting Policies [Line Items] | |
Amortization period of intangible assets | 3 years |
Minimum | Buildings | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful lives for depreciation | 2 years |
Minimum | Machinery, equipment and others | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful lives for depreciation | 2 years |
Minimum | Patent rights; know-how; license agreements; trademarks; software to be sold, leased or otherwise marketed, and internal-use software | |
Summary Of Significant Accounting Policies [Line Items] | |
Amortization period of intangible assets | 3 years |
Minimum | Customer relationships, music catalogs, artist contracts and television carriage contracts (broadcasting agreements) | |
Summary Of Significant Accounting Policies [Line Items] | |
Amortization period of intangible assets | 10 years |
Maximum | Buildings | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful lives for depreciation | 50 years |
Maximum | Machinery, equipment and others | |
Summary Of Significant Accounting Policies [Line Items] | |
Useful lives for depreciation | 10 years |
Maximum | Patent rights; know-how; license agreements; trademarks; software to be sold, leased or otherwise marketed, and internal-use software | |
Summary Of Significant Accounting Policies [Line Items] | |
Amortization period of intangible assets | 10 years |
Maximum | Customer relationships, music catalogs, artist contracts and television carriage contracts (broadcasting agreements) | |
Summary Of Significant Accounting Policies [Line Items] | |
Amortization period of intangible assets | 44 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of New Accounting Pronouncement Balance Sheet (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Current assets: | |||||||
Notes and accounts receivable, trade and contract assets | ¥ 1,099,300 | ¥ 1,028,793 | ¥ 1,028,793 | ||||
Allowance for credit losses | (29,406) | (26,153) | [1] | (25,873) | |||
Inventories | 637,391 | 558,452 | 589,969 | ||||
Other receivables | 283,499 | 188,076 | 188,106 | ||||
Prepaid expenses and other current assets | 538,540 | 594,009 | 594,021 | ||||
Total current assets | 7,218,744 | 5,703,306 | 5,735,145 | ||||
Film costs | 459,426 | 458,853 | 427,336 | ||||
Investments and advances: | |||||||
Securities investments and other | 14,046,196 | 12,526,990 | 12,526,210 | ||||
Allowance for credit losses | (8,419) | (6,341) | |||||
Long-term Investments, Total | 14,263,995 | 12,728,571 | 12,734,132 | ||||
Other assets: | |||||||
Deferred income taxes | 207,470 | 210,417 | 210,372 | ||||
Other | 361,803 | 339,284 | 340,005 | ||||
Other noncurrent assets | 3,427,241 | 3,233,410 | 3,234,086 | ||||
Total assets | 26,354,840 | 23,032,784 | 23,039,343 | ||||
Current liabilities: | |||||||
Deferred income taxes | 366,761 | 548,034 | 549,538 | ||||
Total liabilities | 20,725,185 | 18,240,537 | 18,242,041 | ||||
EQUITY | |||||||
Retained earnings | 3,857,152 | 2,765,187 | 2,768,856 | ||||
Stockholders' Equity Attributable to Parent, Total | 5,575,839 | 4,121,637 | 4,125,306 | ||||
Noncontrolling interests | 45,637 | 662,843 | 664,229 | ||||
Total equity | 5,621,476 | 4,784,480 | 4,789,535 | ¥ 4,436,690 | ¥ 3,647,157 | ||
Total liabilities and equity | ¥ 26,354,840 | ¥ 23,032,784 | 23,039,343 | ||||
As previously reported | |||||||
Current assets: | |||||||
Notes and accounts receivable, trade and contract assets | 1,028,793 | ||||||
Allowance for credit losses | [1] | (25,873) | |||||
Inventories | 589,969 | ||||||
Other receivables | 188,106 | ||||||
Prepaid expenses and other current assets | 594,021 | ||||||
Total current assets | 5,735,145 | ||||||
Film costs | 427,336 | ||||||
Investments and advances: | |||||||
Securities investments and other | 12,526,210 | ||||||
Long-term Investments, Total | 12,734,132 | ||||||
Other assets: | |||||||
Deferred income taxes | 210,372 | ||||||
Other | 340,005 | ||||||
Other noncurrent assets | 3,234,086 | ||||||
Total assets | 23,039,343 | ||||||
Current liabilities: | |||||||
Deferred income taxes | 549,538 | ||||||
Total liabilities | 18,242,041 | ||||||
EQUITY | |||||||
Retained earnings | 2,768,856 | ||||||
Stockholders' Equity Attributable to Parent, Total | 4,125,306 | ||||||
Noncontrolling interests | 664,229 | ||||||
Total equity | 4,789,535 | ||||||
Total liabilities and equity | 23,039,343 | ||||||
Accounting Standards Update, Adjustment | |||||||
Current assets: | |||||||
Allowance for credit losses | [1] | (280) | |||||
Inventories | (31,517) | ||||||
Other receivables | (30) | ||||||
Prepaid expenses and other current assets | (12) | ||||||
Total current assets | (31,839) | ||||||
Film costs | 31,517 | ||||||
Investments and advances: | |||||||
Securities investments and other | 780 | ||||||
Allowance for credit losses | (6,341) | ||||||
Long-term Investments, Total | (5,561) | ||||||
Other assets: | |||||||
Deferred income taxes | 45 | ||||||
Other | (721) | ||||||
Other noncurrent assets | (676) | ||||||
Total assets | (6,559) | ||||||
Current liabilities: | |||||||
Deferred income taxes | (1,504) | ||||||
Total liabilities | (1,504) | ||||||
EQUITY | |||||||
Retained earnings | (3,669) | ||||||
Stockholders' Equity Attributable to Parent, Total | (3,669) | ||||||
Noncontrolling interests | (1,386) | ||||||
Total equity | (5,055) | ||||||
Total liabilities and equity | (6,559) | ||||||
Accounting Standards Update 2016-13 | |||||||
Current assets: | |||||||
Allowance for credit losses | [1] | (280) | |||||
Other receivables | (30) | ||||||
Prepaid expenses and other current assets | (12) | ||||||
Total current assets | (322) | ||||||
Investments and advances: | |||||||
Securities investments and other | 780 | ||||||
Allowance for credit losses | (6,341) | ||||||
Long-term Investments, Total | (5,561) | ||||||
Other assets: | |||||||
Deferred income taxes | 45 | ||||||
Other | (721) | ||||||
Other noncurrent assets | (676) | ||||||
Total assets | (6,559) | ||||||
Current liabilities: | |||||||
Deferred income taxes | (1,504) | ||||||
Total liabilities | (1,504) | ||||||
EQUITY | |||||||
Retained earnings | (3,669) | ||||||
Stockholders' Equity Attributable to Parent, Total | (3,669) | ||||||
Noncontrolling interests | (1,386) | ||||||
Total equity | (5,055) | ||||||
Total liabilities and equity | (6,559) | ||||||
Accounting Standards Update 2019-02 | |||||||
Current assets: | |||||||
Inventories | (31,517) | ||||||
Total current assets | (31,517) | ||||||
Film costs | ¥ 31,517 | ||||||
[1] | Under ASU 2016-13, Sony changed the presentation from “Allowance for doubtful accounts” to “Allowance for credit losses” on the consolidated balance sheets. |
Inventories (Summary of Invento
Inventories (Summary of Inventories) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 |
Inventory Disclosure [Abstract] | |||
Finished products | ¥ 398,478 | ¥ 345,231 | |
Work in process | 133,560 | 149,969 | |
Raw materials, purchased components and supplies | 105,353 | 94,769 | |
Inventories | ¥ 637,391 | ¥ 558,452 | ¥ 589,969 |
Film Costs (Summary of Film Cos
Film Costs (Summary of Film Costs) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 | |
Motion picture productions: | ||||
Released | ¥ 68,302 | ¥ 99,482 | ||
Completed and not released | 20,148 | 18,776 | ||
In production and development | 141,268 | 67,199 | ||
Television productions: | ||||
Released | 126,236 | 186,344 | ||
In production and development | 33,712 | 25,093 | ||
Film costs for content predominantly monetized individually | 389,666 | 396,894 | ||
Film costs for Media Networks content | [1] | 69,760 | 61,959 | |
Less: current portion of broadcasting rights included in inventories | [2] | (31,517) | ||
Film costs | ¥ 459,426 | ¥ 458,853 | ¥ 427,336 | |
[1] | Substantially all of Sony’s film costs for Media Networks content are broadcasting rights and predominantly monetized with other content. | |||
[2] | Sony adopted ASU 2019-02 from April 1, 2020, and as a result, broadcasting rights in the Pictures segment and animation film production costs in the Music segment were reclassified from inventories to film costs. |
Film Costs - Additional Informa
Film Costs - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Film Costs [Abstract] | ||
Percentage of unamortized film costs | 67.00% | |
Accrued participation liabilities expected to be paid in next twelve months | ¥ 167,000 | |
Amortization of film costs monetized individually | 209,674 | ¥ 276,902 |
Amortization of film costs monetized as a film group | ¥ 63,370 | ¥ 52,907 |
Film Costs (Summary of Unamorti
Film Costs (Summary of Unamortized Film Costs) (Detail) | Mar. 31, 2021 |
Film costs for released content predominantly monetized individually | |
Entertainment Industry [Line Items] | |
2022 | 77.00% |
2023 | 11.00% |
2024 | 3.00% |
Total | 91.00% |
Film costs for Media Networks content | |
Entertainment Industry [Line Items] | |
2022 | 42.00% |
2023 | 24.00% |
2024 | 14.00% |
Total | 80.00% |
Investments in Affiliated Com_3
Investments in Affiliated Companies (Summarized Combined Financial Information Provided by Equity Investees) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Apr. 01, 2020 | Jan. 29, 2020 | Dec. 31, 2019 | Dec. 19, 2019 | |
Schedule of Equity Method Investments [Line Items] | |||||||
Current assets | ¥ 7,218,744 | ¥ 5,735,145 | ¥ 5,703,306 | ||||
Noncurrent assets | 172,795 | 164,852 | |||||
Current liabilities | 7,815,424 | 6,240,443 | |||||
Noncurrent liabilities and noncontrolling interests | 61,232 | 60,469 | |||||
Percentage of ownership in equity investees | 50.00% | 44.50% | 56.30% | ||||
Net income attributable to controlling interests | 1,191,375 | 622,260 | ¥ 966,550 | ||||
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Current assets | 435,910 | 389,195 | |||||
Current liabilities | 208,306 | 194,219 | |||||
Net revenues | 414,934 | 387,678 | 390,457 | ||||
Operating income | 78,096 | 58,431 | 53,920 | ||||
Net income attributable to controlling interests | ¥ 46,914 | ¥ 34,916 | ¥ 5,539 | ||||
Minimum | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Percentage of ownership in equity investees | 20.00% | 20.00% | 20.00% | ||||
Maximum | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Percentage of ownership in equity investees | 50.00% | 50.00% | 50.00% |
Investments in Affiliated Com_4
Investments in Affiliated Companies - Additional Information (Detail) ¥ in Millions | 12 Months Ended | |||||||
Mar. 31, 2021JPY (¥)Entity | Mar. 31, 2020JPY (¥)Entity | Mar. 31, 2019JPY (¥) | Jan. 29, 2020 | Dec. 31, 2019 | Dec. 19, 2019 | Nov. 14, 2018 | Apr. 01, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | 44.50% | 56.30% | |||||
Gain Loss on remeasurement or sale of shares | ¥ 17,266 | |||||||
Aggregate carrying value of investments in several affiliated companies | ¥ 150,339 | |||||||
Fair value of investments in several affiliated companies | ¥ 1,785,481 | |||||||
Number of affiliated companies accounted for under the equity method | Entity | 135 | 140 | ||||||
Dividends received from affiliated companies | ¥ 6,539 | ¥ 4,523 | ¥ 4,948 | |||||
DH Publishing, L.P. | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 60.00% | |||||||
Sony Life Insurance Co Ltd | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | |||||||
SA Reinsurance Ltd | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 50.00% | |||||||
M3, Inc. | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Difference between carrying value and underlying net assets | ¥ 65,541 | |||||||
Difference between carrying value and underlying net assets, accounting treatment for amounts allocated to intangible assets | The amounts allocated to intangible assets are amortized net of the related tax effects to equity in net income (loss) of affiliated companies over their respective estimated useful lives, principally 10 years, using the straight-line method. | |||||||
SFI Leasing Company, Limited | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 34.00% | |||||||
MITSUI-SOKO Supply Chain Solutions, Inc | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage of equity interest | 34.00% | |||||||
MITSUI-SOKO Supply Chain Solutions, Inc | General and Administrative Expenses | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Related party transaction, amounts of transaction | ¥ 7,139 | 6,069 | ||||||
MITSUI-SOKO Supply Chain Solutions, Inc | Accrued Expenses | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Related party transaction, account balances | ¥ 1,649 | ¥ 1,181 |
Investments in Affiliated Com_5
Investments in Affiliated Companies (Account Balances and Transactions with Affiliated Companies Accounted for under Equity Method) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Schedule of Equity Method Investments [Line Items] | |||
Short-term borrowings | ¥ 1,187,868 | ¥ 810,176 | |
Finance lease liabilities and other | 51,066 | 39,083 | |
Operating lease liabilities | 363,621 | ||
Equity Method Investee | |||
Schedule of Equity Method Investments [Line Items] | |||
Accounts receivable, trade | 5,814 | 12,030 | |
Other receivables | 3,014 | 1,589 | |
Other current assets | 16,097 | 9,757 | |
Accounts payable, trade | 1,409 | 1,497 | |
Short-term borrowings | 21,367 | 31,557 | |
Finance lease liabilities and other | 48,018 | 34,564 | |
Operating lease liabilities | 2,730 | 2,393 | |
Sales | 32,372 | 35,951 | ¥ 41,437 |
Purchases | ¥ 3,058 | ¥ 3,479 | ¥ 5,584 |
Transfer of Financial Assets -
Transfer of Financial Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Transfers and Servicing [Abstract] | |||
Trade accounts receivable sold | ¥ 36,664 | ¥ 65,214 | ¥ 81,947 |
Marketable Securities and Sec_3
Marketable Securities and Securities Investments (Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value Pertaining to Available-for-Sale Securities and Held-to-Maturity Securities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | ¥ 7,736,905 | ¥ 7,418,512 |
Held-to-maturity securities, Gross unrealized gains | 1,738,553 | 2,462,696 |
Held-to-maturity securities, Gross unrealized losses | (53,699) | (6,572) |
Held-to-maturity securities, Fair value | 9,421,759 | 9,874,636 |
Marketable securities and securities investments, Cost | 11,319,671 | 10,021,664 |
Marketable securities and securities investments, Gross unrealized gains | 1,939,595 | 2,775,728 |
Marketable securities and securities investments, Gross unrealized losses | (95,221) | (9,943) |
Marketable securities and securities investments, Fair value | 13,164,045 | 12,787,449 |
Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 3,582,766 | 2,603,152 |
Available-for-Sale securities, Gross unrealized gains | 201,042 | 313,032 |
Available-for-Sale securities, Gross unrealized losses | (41,522) | (3,371) |
Available-for-Sale securities, Fair value | 3,742,286 | 2,912,813 |
Japanese national government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 6,244,125 | 6,204,505 |
Held-to-maturity securities, Gross unrealized gains | 1,650,057 | 2,098,885 |
Held-to-maturity securities, Gross unrealized losses | (13,390) | (1,397) |
Held-to-maturity securities, Fair value | 7,880,792 | 8,301,993 |
Japanese national government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 2,301,995 | 1,552,036 |
Available-for-Sale securities, Gross unrealized gains | 159,880 | 210,459 |
Available-for-Sale securities, Gross unrealized losses | (18,609) | (566) |
Available-for-Sale securities, Fair value | 2,443,266 | 1,761,929 |
Japanese local government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 1,716 | 2,504 |
Held-to-maturity securities, Gross unrealized gains | 294 | 331 |
Held-to-maturity securities, Fair value | 2,010 | 2,835 |
Japanese local government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 73,989 | 69,132 |
Available-for-Sale securities, Gross unrealized gains | 94 | 73 |
Available-for-Sale securities, Gross unrealized losses | (20) | (33) |
Available-for-Sale securities, Fair value | 74,063 | 69,172 |
Japanese corporate bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 543,870 | 482,050 |
Held-to-maturity securities, Gross unrealized gains | 36,071 | 61,176 |
Held-to-maturity securities, Gross unrealized losses | (14,919) | (4,754) |
Held-to-maturity securities, Fair value | 565,022 | 538,472 |
Japanese corporate bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 259,932 | 202,164 |
Available-for-Sale securities, Gross unrealized gains | 13,356 | 19,112 |
Available-for-Sale securities, Gross unrealized losses | (1,475) | (567) |
Available-for-Sale securities, Fair value | 271,813 | 220,709 |
Foreign government bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 850,740 | 723,937 |
Held-to-maturity securities, Gross unrealized gains | 51,494 | 302,297 |
Held-to-maturity securities, Gross unrealized losses | (25,277) | |
Held-to-maturity securities, Fair value | 876,957 | 1,026,234 |
Foreign government bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 323,557 | 198,777 |
Available-for-Sale securities, Gross unrealized gains | 23,118 | 81,014 |
Available-for-Sale securities, Gross unrealized losses | (20,819) | (14) |
Available-for-Sale securities, Fair value | 325,856 | 279,777 |
Foreign corporate bonds | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 27,392 | 98 |
Held-to-maturity securities, Gross unrealized gains | 572 | 7 |
Held-to-maturity securities, Gross unrealized losses | (109) | |
Held-to-maturity securities, Fair value | 27,855 | 105 |
Foreign corporate bonds | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 382,231 | 361,422 |
Available-for-Sale securities, Gross unrealized gains | 1,102 | 507 |
Available-for-Sale securities, Gross unrealized losses | (459) | (2,179) |
Available-for-Sale securities, Fair value | 382,874 | 359,750 |
Securitized products | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Cost | 69,062 | 5,418 |
Held-to-maturity securities, Gross unrealized gains | 65 | |
Held-to-maturity securities, Gross unrealized losses | (4) | (421) |
Held-to-maturity securities, Fair value | 69,123 | 4,997 |
Securitized products | Debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 198,593 | 205,223 |
Available-for-Sale securities, Gross unrealized gains | 0 | |
Available-for-Sale securities, Fair value | 198,593 | 205,223 |
Other | ||
Schedule of Investments [Line Items] | ||
Available-for-Sale securities, Cost | 42,469 | 14,398 |
Available-for-Sale securities, Gross unrealized gains | 3,492 | 1,867 |
Available-for-Sale securities, Gross unrealized losses | (140) | (12) |
Available-for-Sale securities, Fair value | ¥ 45,821 | ¥ 16,253 |
Marketable Securities and Sec_4
Marketable Securities and Securities Investments (Cost and Fair Value of Debt Securities Classified as Available-for-Sale Securities and Held-to-Maturity Securities by Contractual Maturity) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Available for Sale Securities, Cost | ||
Due in one year or less | ¥ 568,574 | |
Due after one year through five years | 419,311 | |
Due after five years through ten years | 650,929 | |
Due after ten years | 1,943,952 | |
Total | 3,582,766 | |
Available-for-sale securities, Fair value | ||
Due in one year or less | 568,625 | |
Due after one year through five years | 434,470 | |
Due after five years through ten years | 725,747 | |
Due after ten years | 2,013,444 | |
Total | 3,742,286 | |
Held-to-maturity securities, Cost | ||
Due in one year or less | 6,680 | |
Due after one year through five years | 288,952 | |
Due after five years through ten years | 252,897 | |
Due after ten years | 7,188,376 | |
Held-to-maturity securities, Cost | 7,736,905 | ¥ 7,418,512 |
Held-to-maturity securities, Fair value | ||
Due in one year or less | 6,757 | |
Due after one year through five years | 307,127 | |
Due after five years through ten years | 284,725 | |
Due after ten years | 8,823,150 | |
Total | ¥ 9,421,759 | ¥ 9,874,636 |
Marketable Securities and Sec_5
Marketable Securities and Securities Investments - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||||
Mar. 31, 2021JPY (¥) | Mar. 31, 2021USD ($) | Mar. 31, 2020JPY (¥) | Mar. 31, 2020USD ($) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Apr. 03, 2018 | |
Investment Holdings [Line Items] | ||||||||
Proceeds from sales of available-for-sale securities | ¥ 60,188 | ¥ 84,362 | ¥ 66,906 | |||||
Gross realized gains from available-for-sale securities | 358 | 354 | 240 | |||||
Gross realized losses from available-for-sale securities | 145 | 128 | 475 | |||||
Marketable securities classified as trading securities | 288,895 | 270,120 | ||||||
Net unrealized gains on trading securities | 1,705 | 3,610 | ||||||
Net unrealized losses on trading securities | (1,055) | |||||||
Net realized gains on sale of equity securities | 44,372 | 20,176 | ||||||
Net unrealized gains on revaluation of equity securities | 682,650 | 134,831 | ||||||
Gain or loss on sale of shares in security investments | 61,544 | |||||||
Investment in non public companies | 82,744 | 30,120 | ||||||
Equity securities without readily determinable fair value, downward price adjustment | 4,826 | 9,075 | 4,285 | |||||
Equity securities without readily determinable fair value, upward price adjustment | 20,921 | 1,070 | ||||||
Spotify Technology SA | ||||||||
Investment Holdings [Line Items] | ||||||||
Ownership percentage | 5.707% | |||||||
Proceed from sale of shares | 82,616 | $ (768) | ||||||
Gain or loss on sale of shares in security investments | 0 | 0 | 54,179 | (504) | ||||
Gross fair value of retained shares | 78,947 | $ 711 | ||||||
Gain (loss) on equity securities, net | ¥ (51,310) | $ (480) | ¥ (6,063) | $ 57 | ¥ 47,543 | $ (449) |
Marketable Securities and Sec_6
Marketable Securities and Securities Investments (Gross Unrealized Losses and Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time of Continuous Unrealized Loss Position) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | ¥ 738,498 | ¥ 237,149 |
Available-for-sale securities, less than 12 months, unrealized losses | (40,593) | (3,242) |
Available-for-sale securities, 12 months or more, fair value | 100,538 | 49,499 |
Available-for-sale securities, 12 months or more, unrealized losses | (929) | (129) |
Available-for-sale securities, fair value, total | 839,036 | 286,648 |
Available-for-sale securities, unrealized losses, total | (41,522) | (3,371) |
Japanese national government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 485,941 | 51,746 |
Available-for-sale securities, less than 12 months, unrealized losses | (18,418) | (539) |
Available-for-sale securities, 12 months or more, fair value | 29,424 | 2,032 |
Available-for-sale securities, 12 months or more, unrealized losses | (191) | (27) |
Available-for-sale securities, fair value, total | 515,365 | 53,778 |
Available-for-sale securities, unrealized losses, total | (18,609) | (566) |
Japanese local government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 20,421 | 25,010 |
Available-for-sale securities, less than 12 months, unrealized losses | (8) | (10) |
Available-for-sale securities, 12 months or more, fair value | 15,256 | 16,340 |
Available-for-sale securities, 12 months or more, unrealized losses | (12) | (23) |
Available-for-sale securities, fair value, total | 35,677 | 41,350 |
Available-for-sale securities, unrealized losses, total | (20) | (33) |
Japanese corporate bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 73,238 | 62,118 |
Available-for-sale securities, less than 12 months, unrealized losses | (925) | (548) |
Available-for-sale securities, 12 months or more, fair value | 42,310 | 10,694 |
Available-for-sale securities, 12 months or more, unrealized losses | (550) | (19) |
Available-for-sale securities, fair value, total | 115,548 | 72,812 |
Available-for-sale securities, unrealized losses, total | (1,475) | (567) |
Foreign government bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 128,085 | |
Available-for-sale securities, less than 12 months, unrealized losses | (20,800) | |
Available-for-sale securities, 12 months or more, fair value | 1,522 | 1,537 |
Available-for-sale securities, 12 months or more, unrealized losses | (19) | (14) |
Available-for-sale securities, fair value, total | 129,607 | 1,537 |
Available-for-sale securities, unrealized losses, total | (20,819) | (14) |
Foreign corporate bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 29,651 | 86,220 |
Available-for-sale securities, less than 12 months, unrealized losses | (302) | (2,133) |
Available-for-sale securities, 12 months or more, fair value | 12,026 | 18,896 |
Available-for-sale securities, 12 months or more, unrealized losses | (157) | (46) |
Available-for-sale securities, fair value, total | 41,677 | 105,116 |
Available-for-sale securities, unrealized losses, total | (459) | (2,179) |
Other | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale securities, less than 12 months, fair value | 1,162 | 12,055 |
Available-for-sale securities, less than 12 months, unrealized losses | (140) | (12) |
Available-for-sale securities, fair value, total | 1,162 | 12,055 |
Available-for-sale securities, unrealized losses, total | ¥ (140) | ¥ (12) |
Marketable Securities and Sec_7
Marketable Securities and Securities Investments (Summary of Debt Securities Classified as Held to Maturity by Credit Quality Indicator) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items] | ||
Held-to-maturity securities | ¥ 7,736,905 | ¥ 7,418,512 |
AAA | ||
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items] | ||
Held-to-maturity securities | 69,161 | 5,516 |
AA | ||
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items] | ||
Held-to-maturity securities | 1,465,168 | 1,193,053 |
A | ||
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items] | ||
Held-to-maturity securities | ¥ 6,202,576 | ¥ 6,219,943 |
Leases-Components of lease cost
Leases-Components of lease cost (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Lease, Cost [Abstract] | ||
Amortization of right-of-use assets | ¥ 7,795 | ¥ 10,077 |
Interest on lease liabilities | 863 | 1,266 |
Total finance lease cost | 8,658 | 11,343 |
Operating lease cost | 80,309 | 76,863 |
Short-term lease cost | 17,805 | 20,620 |
Variable lease cost | 108 | 141 |
Sublease income | (2,256) | (3,860) |
Total lease cost | ¥ 104,624 | ¥ 105,107 |
Leases-Summary of Supplemental
Leases-Summary of Supplemental consolidated balance sheet information related to leases (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Finance Lease [Abstract] | ||
Current portion of long-term debt | ¥ 7,382 | ¥ 9,240 |
Long-term debt | 43,684 | 29,843 |
Total | ¥ 51,066 | ¥ 39,083 |
Weighted average remaining lease term | ||
Operating leases | 8 years 29 days | 8 years 7 months 9 days |
Finance leases | 16 years 10 months 6 days | 9 years 10 months 28 days |
Weighted average discount rate | ||
Operating leases | 2.119% | 2.338% |
Finance leases | 1.776% | 3.147% |
Leases-Summary of Maturities of
Leases-Summary of Maturities of Lease Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Operating Leases [Abstract] | ||
2022 | ¥ 79,980 | |
2023 | 65,595 | |
2024 | 55,127 | |
2025 | 36,893 | |
2026 | 29,850 | |
Later fiscal years | 130,838 | |
Total lease payments | 398,283 | |
Less imputed interest | 34,662 | |
Total | 363,621 | |
Finance Leases [Abstract] | ||
2022 | 8,309 | |
2023 | 6,909 | |
2024 | 5,067 | |
2025 | 4,306 | |
2026 | 2,941 | |
Later fiscal years | 33,869 | |
Total lease payments | 61,401 | |
Less imputed interest | 10,335 | |
Total | ¥ 51,066 | ¥ 39,083 |
Leases-Summary of other informa
Leases-Summary of other information related to leases (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities | ||
Payments for operating leases, included in cash flows from operating activities | ¥ 75,907 | ¥ 71,612 |
Payments for finance leases, included in cash flows from financing activities | 9,311 | 33,088 |
Right-of-use assets obtained in exchange for new operating lease liabilities | ¥ 46,710 | ¥ 124,380 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Line Items] | |||
Finite and indefinite lived intangible assets acquired | ¥ 187,596 | ||
Aggregate amortization expense for intangible assets | ¥ 118,260 | ¥ 110,819 | ¥ 109,452 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets (Acquired Intangible Assets and Weighted-Average Amortization Period) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2021JPY (¥) | |
Patent rights, know-how and license agreements | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 14,131 |
Weighted-average amortization period | 5 years |
Software to be sold, leased or otherwise marketed | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 17,255 |
Weighted-average amortization period | 3 years |
Internal-use software | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 87,788 |
Weighted-average amortization period | 5 years |
Music catalogs | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 61,341 |
Weighted-average amortization period | 19 years |
Other | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Intangible assets acquired | ¥ 7,081 |
Weighted-average amortization period | 3 years |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Intangible Assets Subject to Amortization) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | ¥ 1,897,266 | ¥ 1,700,304 |
Accumulated amortization | (992,217) | (886,297) |
Patent rights, know-how and license agreements | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 180,379 | 173,800 |
Accumulated amortization | (143,448) | (154,772) |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 18,681 | 16,104 |
Accumulated amortization | (13,962) | (12,467) |
Trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 11,177 | 11,115 |
Accumulated amortization | (6,394) | (6,079) |
Software to be sold, leased or otherwise marketed | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 156,820 | 141,111 |
Accumulated amortization | (124,819) | (110,663) |
Internal-use software | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 660,133 | 594,109 |
Accumulated amortization | (437,438) | (384,236) |
Music catalogs | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 708,320 | 612,266 |
Accumulated amortization | (151,568) | (124,787) |
Artist contracts | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 42,902 | 41,764 |
Accumulated amortization | (30,425) | (29,017) |
Television carriage contracts (broadcasting agreements) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 55,752 | 53,266 |
Accumulated amortization | (27,162) | (21,645) |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 63,102 | 56,769 |
Accumulated amortization | ¥ (57,001) | ¥ (42,631) |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Estimated Aggregate Amortization Expense for Intangible Assets) (Detail) ¥ in Millions | Mar. 31, 2021JPY (¥) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2022 | ¥ 102,884 |
2023 | 88,057 |
2024 | 66,244 |
2025 | 48,197 |
2026 | ¥ 33,799 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets (Total Carrying Amount of Intangible Assets Having Indefinite Life) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | ¥ 91,256 | ¥ 92,303 |
Trademarks | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | 70,265 | 69,975 |
Distribution agreements | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | 18,834 | 18,834 |
Other | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Carrying amount of intangible assets having an indefinite life | ¥ 2,157 | ¥ 3,494 |
Goodwill and Other Intangible_8
Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill by Segment) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Goodwill [Line Items] | |||
Goodwill - gross | ¥ 1,100,315 | ¥ 1,087,374 | |
Accumulated impairments | (316,427) | (318,822) | |
Goodwill | 783,888 | 768,552 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 19,954 | 39,763 |
Sales and dispositions | (1,294) | (609) | |
Translation adjustments | 24,606 | (20,639) | |
Other | (5) | (3,179) | |
Goodwill - gross | 1,145,656 | 1,100,315 | |
Accumulated impairments | (318,507) | (316,427) | |
Goodwill | 827,149 | 783,888 | |
Game & Network Services | |||
Goodwill [Line Items] | |||
Goodwill - gross | 170,974 | 153,955 | |
Goodwill | 170,974 | 153,955 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 17,945 | |
Translation adjustments | 1,386 | (926) | |
Goodwill - gross | 172,360 | 170,974 | |
Goodwill | 172,360 | 170,974 | |
Music | |||
Goodwill [Line Items] | |||
Goodwill - gross | 391,631 | 403,676 | |
Accumulated impairments | (306) | (306) | |
Goodwill | 391,325 | 403,370 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 1,791 | 2,956 |
Sales and dispositions | (902) | ||
Translation adjustments | 16,609 | (13,802) | |
Other | (1,199) | ||
Goodwill - gross | 409,129 | 391,631 | |
Accumulated impairments | (306) | (306) | |
Goodwill | 408,823 | 391,325 | |
Pictures | |||
Goodwill [Line Items] | |||
Goodwill - gross | 257,074 | 252,262 | |
Accumulated impairments | (104,700) | (106,778) | |
Goodwill | 152,374 | 145,484 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 13,007 | 14,889 |
Sales and dispositions | (392) | (609) | |
Translation adjustments | 6,026 | (5,410) | |
Other | 1,467 | (1,980) | |
Goodwill - gross | 278,991 | 257,074 | |
Accumulated impairments | (106,509) | (104,700) | |
Goodwill | 172,482 | 152,374 | |
Electronics Products & Solutions | |||
Goodwill [Line Items] | |||
Goodwill - gross | 194,635 | 194,416 | |
Accumulated impairments | (182,446) | (182,462) | |
Goodwill | 12,189 | 11,954 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 5,156 | 364 |
Translation adjustments | 267 | (129) | |
Other | (1,472) | ||
Goodwill - gross | 198,600 | 194,635 | |
Accumulated impairments | (182,460) | (182,446) | |
Goodwill | 16,140 | 12,189 | |
Imaging & Sensing Solutions | |||
Goodwill [Line Items] | |||
Goodwill - gross | 46,192 | 46,564 | |
Goodwill | 46,192 | 46,564 | |
Increase (decrease) due to: | |||
Translation adjustments | 318 | (372) | |
Goodwill - gross | 46,510 | 46,192 | |
Goodwill | 46,510 | 46,192 | |
Financial Services | |||
Goodwill [Line Items] | |||
Goodwill - gross | 11,540 | 7,931 | |
Accumulated impairments | (706) | (706) | |
Goodwill | 10,834 | 7,225 | |
Increase (decrease) due to: | |||
Acquisitions | [1] | 3,609 | |
Goodwill - gross | 11,540 | 11,540 | |
Accumulated impairments | (706) | (706) | |
Goodwill | 10,834 | 10,834 | |
All Other | |||
Goodwill [Line Items] | |||
Goodwill - gross | 28,269 | 28,570 | |
Accumulated impairments | (28,269) | (28,570) | |
Increase (decrease) due to: | |||
Goodwill - gross | 28,526 | 28,269 | |
Accumulated impairments | ¥ (28,526) | ¥ (28,269) | |
[1] | Acquisitions for the fiscal year ended March 31, 2021 primarily related to the acquisition of PureFlix in the Pictures segment. Refer to Note 25. |
Insurance-Related Accounts - Ad
Insurance-Related Accounts - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Combined amounts of statutory net equity of insurance subsidiaries which is not measured in accordance with U.S. GAAP | ¥ 573,430 | ¥ 586,983 | |
Life insurance revenues | 913,361 | 1,052,316 | ¥ 910,011 |
Non-life insurance revenues | 123,574 | 115,730 | 111,392 |
Amortization of deferred insurance acquisition costs charged to income | 44,738 | 93,734 | ¥ 79,906 |
Future insurance policy benefits | 6,592,763 | 6,237,048 | |
Nontraditional Life Insurance Contracts [Member] | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Deferred insurance acquisition costs of non-traditional life insurance contracts | ¥ 253,687 | ¥ 206,363 | |
Minimum | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Interest rates for future policy benefit based on market conditions and expected investment returns | 0.50% | ||
Minimum | Interest Sensitive Whole Life Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 1.70% | ||
Minimum | Investments Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 0.01% | ||
Maximum | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Interest rates for future policy benefit based on market conditions and expected investment returns | 4.50% | ||
Maximum | Interest Sensitive Whole Life Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 2.00% | ||
Maximum | Investments Contracts | |||
Liability for Future Policy Benefit, by Product Segment [Line Items] | |||
Credited interest rates associated with policyholder contract deposits | 6.30% |
Insurance-Related Accounts (Pol
Insurance-Related Accounts (Policyholders' Account in Life Insurance Business) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | ¥ 4,331,065 | ¥ 3,642,271 |
Universal Life Insurance | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | 3,067,791 | 2,611,577 |
Investments Contracts | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | 1,103,785 | 885,690 |
Other | ||
Policyholders Account In Life Insurance Business [Abstract] | ||
Policyholders' account in the life insurance business | ¥ 159,489 | ¥ 145,004 |
Insurance-Related Accounts (Net
Insurance-Related Accounts (Net Amount at Risk, Liability for the Minimum Guaranteed Benefit) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | ¥ 1,976,153 | ¥ 1,561,028 |
Net amount at risk | 5,125,498 | 4,635,899 |
Liability for minimum guarantee benefit | 100,555 | 143,905 |
Variable annuities | ||
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | 490,152 | 464,093 |
Net amount at risk | 50,861 | 71,685 |
Liability for minimum guarantee benefit | ¥ 42,309 | ¥ 64,045 |
Average attained age | 61 years | 60 years |
Variable life insurance contracts | ||
Net Amount at Risk by Product and Guarantee [Line Items] | ||
Policyholder's account value | ¥ 1,486,001 | ¥ 1,096,935 |
Net amount at risk | 5,074,637 | 4,564,214 |
Liability for minimum guarantee benefit | ¥ 58,246 | ¥ 79,860 |
Average attained age | 45 years | 45 years |
Short-Term Borrowings and Lon_3
Short-Term Borrowings and Long-Term Debt (Short-Term Borrowings) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 1,187,868 | ¥ 810,176 |
Unsecured Loans Weighted Average Interest Rate 0.86% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 91,725 | |
Unsecured Loans Weighted Average Interest Rate 0.77% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 58,659 | |
Repurchase agreement, weighted average interest rate 0.93% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 567,194 | |
Repurchase agreement, weighted average interest rate 0.06% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 917,792 | |
Call Money Weighted Average Interest Rate 0.13% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 151,257 | |
Call Money Weighted Average Interest Rate -0.03% | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | ¥ 211,417 |
Short-Term Borrowings and Lon_4
Short-Term Borrowings and Long-Term Debt (Short-Term Borrowings) (Parenthetical) (Detail) | Mar. 31, 2021 | Mar. 31, 2020 |
Unsecured Loans Weighted Average Interest Rate 0.86% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.86% | |
Unsecured Loans Weighted Average Interest Rate 0.77% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.77% | |
Repurchase agreement, weighted average interest rate 0.93% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.93% | |
Repurchase agreement, weighted average interest rate 0.06% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.06% | |
Call Money Weighted Average Interest Rate 0.13% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | 0.13% | |
Call Money Weighted Average Interest Rate -0.03% | ||
Short-term Debt [Line Items] | ||
Debt weighted-average interest rate | (0.03%) |
Short-Term Borrowings and Lon_5
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions, $ in Billions | Oct. 31, 2020JPY (¥) | Jul. 31, 2020JPY (¥) | Jul. 21, 2015JPY (¥)TradingDay¥ / shares | Mar. 31, 2021JPY (¥)¥ / shares | May 10, 2021¥ / shares | Jul. 31, 2020USD ($) | Mar. 31, 2020JPY (¥)¥ / shares |
Debt Instrument [Line Items] | |||||||
Short-term borrowings | ¥ 1,187,868 | ¥ 810,176 | |||||
Long-term debt including current portion | 904,993 | 664,773 | |||||
Aggregate principal amount newly issued for repayment of borrowings and debt | $ | $ 2 | ||||||
JBIC Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal amount newly issued for repayment of borrowings and debt | $ | 1.2 | ||||||
Percentage of debt borrowed in USD | 60.00% | ||||||
Japanese Private Banks [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Aggregate principal amount newly issued for repayment of borrowings and debt | ¥ 86,000 | $ 0.8 | |||||
Percentage of debt borrowed in JPY | 40.00% | ||||||
DH Publishing, LP [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Percentage of equity interest acquired | 60.00% | 60.00% | |||||
Sony Financial Holdings Inc [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Borrowing from bank | ¥ 74,000 | ¥ 322,500 | 396,500 | ||||
Repaid outstanding balance | 396,500 | ||||||
Securities Pledged As Collaterals | |||||||
Debt Instrument [Line Items] | |||||||
Marketable securities pledged as collateral | 54,624 | ||||||
Pledged housing loans, book value | 562,731 | ||||||
Long-term secured loan | 240,000 | ||||||
Investments Pledged As Collaterals | |||||||
Debt Instrument [Line Items] | |||||||
Marketable securities pledged as collateral | 326,156 | ||||||
Investments Pledged As Collaterals | Other Current Liabilities | |||||||
Debt Instrument [Line Items] | |||||||
Short-term borrowings | 373,274 | ||||||
Minimum | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Term | 8 years | 8 years | |||||
Maximum | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Term | 10 years | 10 years | |||||
Committed Lines of Credit | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit facility, remaining borrowing capacity | ¥ 580,453 | ||||||
Line of credit facility, period up to which company can borrow | 180 days | ||||||
Commercial Paper Programs | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit facility, remaining borrowing capacity | ¥ 1,053,550 | ||||||
Line of credit facility, period up to which company can borrow | 270 days | ||||||
Cash settlements, variation margins of futures markets and certain other purposes | |||||||
Debt Instrument [Line Items] | |||||||
Marketable securities and securities investments pledged as collateral, book value | ¥ 12,769 | ||||||
Repurchase agreement, weighted average interest rate of 0.06% | |||||||
Debt Instrument [Line Items] | |||||||
Short-term borrowings | 917,792 | ||||||
Marketable securities pledged as collateral | 787,977 | ||||||
Repurchase agreement, weighted average interest rate of 0.06% | Securities Pledged As Collaterals | |||||||
Debt Instrument [Line Items] | |||||||
Short-term borrowings | 917,792 | ||||||
Call Money Weighted Average Interest Rate -0.03% | |||||||
Debt Instrument [Line Items] | |||||||
Short-term borrowings | 211,417 | ||||||
Call Money Weighted Average Interest Rate -0.03% | Securities Pledged As Collaterals | |||||||
Debt Instrument [Line Items] | |||||||
Short-term borrowings | 59,500 | ||||||
Marketable securities and securities investments pledged as collateral, book value | 68,863 | ||||||
Unsecured zero coupon convertible bonds, due 2022 | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt including current portion | ¥ 120,000 | ¥ 41,189 | ¥ 119,531 | ||||
Debt instrument interest rate | 130.00% | ||||||
Stock acquisition rights, start date | Sep. 1, 2015 | ||||||
Stock acquisition rights, end date | Sep. 28, 2022 | ||||||
Conversion price per common share | ¥ / shares | ¥ 5,008 | ¥ 4,982.5 | ¥ 4,969.2 | ¥ 4,996 | |||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | ¥ 25 | ||||||
Debt instrument outstanding percentage | 100.00% | ||||||
Debt instrument redeemable date | Jul. 21, 2020 | ||||||
Debt instrument conversion price percentage on consecutive trading days | 130.00% | ||||||
Debt instrument, convertible, consecutive trading days | TradingDay | 20 | ||||||
Basis for conversion bonds outstanding | If each of the closing sales prices per share of Sony Group Corporation’s common stock on the Tokyo Stock Exchange for 20 consecutive trading days is 130% or more of the conversion price of the Zero Coupon Convertible Bonds applicable on those trading days, subject to a public announcement of specified information within 15 days from the last day of those trading days | ||||||
Unsecured zero coupon convertible bonds, due 2022 | Minimum | |||||||
Debt Instrument [Line Items] | |||||||
Conversion price per common share | ¥ / shares | ¥ 3,526.5 | ||||||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | 25 | ||||||
Unsecured zero coupon convertible bonds, due 2022 | Maximum | |||||||
Debt Instrument [Line Items] | |||||||
Conversion price per common share | ¥ / shares | ¥ 5,008 | ||||||
Amount in excess of dividends for which conversion price is adjusted | ¥ / shares | ¥ 55 |
Short-Term Borrowings and Lon_6
Short-Term Borrowings and Long-Term Debt (Long-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | Jul. 21, 2015 |
Debt Instrument [Line Items] | |||
Long-term debt including current portion | ¥ 904,993 | ¥ 664,773 | |
Less - Portion due within one year | 131,699 | 29,807 | |
Total | 773,294 | 634,966 | |
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 17,880 | ||
Unsecured loans, due 2021 to 2030, with interest rates ranging from 0.01 % to 5.10 % per annum | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 238,196 | ||
Unsecured 0.23% bonds, due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 89,969 | 89,894 | |
Unsecured 0.11% bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 10,000 | 10,000 | |
Unsecured 1.41% bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 10,000 | 10,000 | |
Unsecured 0.28% bonds, due 2023 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 15,000 | 15,000 | |
Unsecured 0.13% bonds, due 2024 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 29,911 | 29,886 | |
Unsecured 0.15% bonds, due 2024 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 9,971 | ||
Unsecured 0.22% bonds, due 2025 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 10,000 | 10,000 | |
Unsecured 0.18% bonds, due 2026 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 10,000 | 10,000 | |
Unsecured 0.20% bonds, due 2026 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 19,943 | ||
Unsecured 0.30% bonds, due 2029 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 59,760 | 59,738 | |
Unsecured 0.42% bonds, due 2026 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 24,935 | 24,923 | |
Unsecured zero coupon convertible bonds, due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 41,189 | 119,531 | ¥ 120,000 |
Secured 0.00% loans, due 2022 to 2023 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 201,205 | ||
Secured 0.00% loans, due 2021 to 2026 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 240,019 | ||
Finance lease liabilities and other, due 2020 to 2050 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 56,350 | ||
Finance lease liabilities and other, due 2021 to 2051 | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | 85,564 | ||
Guarantee deposits received | |||
Debt Instrument [Line Items] | |||
Long-term debt including current portion | ¥ 10,536 | ¥ 10,366 |
Short-Term Borrowings and Lon_7
Short-Term Borrowings and Long-Term Debt (Long-Term Debt) (Parenthetical) (Detail) - ¥ / shares | May 10, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Jul. 21, 2015 |
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.01% | |||
Unsecured loans, due 2020 to 2029, with interest rates ranging from 0.01 % to 5.10 % per annum | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 5.10% | |||
Unsecured loans, due 2021 to 2030, with interest rates ranging from 0.01 % to 5.10 % per annum | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.01% | |||
Unsecured loans, due 2021 to 2030, with interest rates ranging from 0.01 % to 5.10 % per annum | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 5.10% | |||
Unsecured 0.23% bonds, due 2021 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.23% | 0.23% | ||
Unsecured 0.11% bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.11% | 0.11% | ||
Unsecured 1.41% bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 1.41% | 1.41% | ||
Unsecured 0.28% bonds, due 2023 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.28% | 0.28% | ||
Unsecured 0.13% bonds, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.13% | 0.13% | ||
Unsecured 0.15% bonds, due 2024 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.15% | 0.15% | ||
Unsecured 0.22% bonds, due 2025 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.22% | 0.22% | ||
Unsecured 0.18% bonds, due 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.18% | 0.18% | ||
Unsecured 0.20% bonds, due 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.20% | 0.20% | ||
Unsecured 0.42% bonds, due 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.42% | 0.42% | ||
Unsecured 0.30% bonds, due 2029 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.30% | 0.30% | ||
Unsecured zero coupon convertible bonds, due 2022 | ||||
Debt Instrument [Line Items] | ||||
Conversion price per common share | ¥ 4,969.2 | ¥ 4,982.5 | ¥ 4,996 | ¥ 5,008 |
Unsecured zero coupon convertible bonds, due 2022 | Minimum | ||||
Debt Instrument [Line Items] | ||||
Conversion price per common share | 3,526.5 | |||
Unsecured zero coupon convertible bonds, due 2022 | Maximum | ||||
Debt Instrument [Line Items] | ||||
Conversion price per common share | ¥ 5,008 | |||
Secured 0.00% loans, due 2022 to 2023 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.00% | |||
Secured 0.00% loans, due 2021 to 2026 | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.00% | 0.00% | ||
Finance lease liabilities and other, due 2020 to 2050 | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.01% | |||
Finance lease liabilities and other, due 2020 to 2050 | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 12.59% | |||
Finance lease liabilities and other, due 2021 to 2051 | Minimum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 0.01% | |||
Finance lease liabilities and other, due 2021 to 2051 | Maximum | ||||
Debt Instrument [Line Items] | ||||
Debt instrument interest rate | 5.45% |
Short-Term Borrowings and Lon_8
Short-Term Borrowings and Long-Term Debt (Aggregate Amounts of Annual Maturities of Long-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Debt Disclosure [Abstract] | ||
2022 | ¥ 131,699 | |
2023 | 106,626 | |
2024 | 95,016 | |
2025 | 188,572 | |
2026 | 26,867 | |
Later fiscal years | 356,213 | |
Total | ¥ 904,993 | ¥ 664,773 |
Housing Loans and Deposits fr_3
Housing Loans and Deposits from Customers in the Banking Business - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Housing Loans And Deposits From Customers [Abstract] | ||
Housing loans in the banking business, Carrying amount | ¥ 2,354,546 | ¥ 1,927,054 |
Allowance for credit losses of housing loans in the banking business | 1,004 | 780 |
Balance of time deposits and thrift saving deposits issued in amounts of 10 million yen or more | ¥ 391,442 | ¥ 320,351 |
Housing Loans and Deposits fr_4
Housing Loans and Deposits from Customers in the Banking Business (Summary of Amortized Cost of Housing Loans in the Banking Business by Both Credit Quality Indicator Based On The Credit Ratings of Debtors and Year of Origination) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | ||
2021 | ¥ 547,345 | |||
2020 | 349,470 | |||
2019 | 252,967 | |||
2018 | 158,811 | |||
2017 | 269,668 | |||
Prior | 776,285 | |||
Total | 2,354,546 | ¥ 1,927,054 | ||
Normal | Home Equity Loan | ||||
2021 | [1] | 547,133 | ||
2020 | [1] | 349,334 | ||
2019 | [1] | 252,609 | ||
2018 | [1] | 158,546 | ||
2017 | [1] | 269,450 | ||
Prior | [1] | 772,072 | ||
Total | 2,349,144 | [1] | 1,923,648 | |
Other than normal | Home Equity Loan | ||||
2021 | 212 | |||
2020 | 136 | |||
2019 | 358 | |||
2018 | 265 | |||
2017 | 218 | |||
Prior | 4,213 | |||
Total | ¥ 5,402 | ¥ 3,406 | ||
[1] | Normal is defined as borrowers who do not have particular problems with their financial position. |
Housing Loans and Deposits fr_5
Housing Loans and Deposits from Customers in the Banking Business (Aggregate Amounts of Annual Maturities of Time Deposits and Thrift Saving Deposits with Remaining Term of More Than One Year) (Detail) ¥ in Millions | Mar. 31, 2021JPY (¥) |
Interest-bearing Deposit Liabilities [Abstract] | |
2023 | ¥ 36,586 |
2024 | 19,643 |
2025 | 3,135 |
2026 | 3,159 |
2027 | 400 |
Later fiscal years | 28,805 |
Total | ¥ 91,728 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | ¥ 288,895 | ¥ 270,120 | |
Derivative assets | 28,737 | 42,383 | |
Derivative liabilities | 40,354 | 35,866 | |
Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 45,821 | 16,253 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 288,895 | 270,120 | |
Other investments | [1] | 20,998 | 17,220 |
Derivative assets | [2] | 28,737 | 42,383 |
Total assets | 6,542,264 | 4,774,922 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 536,189 | 532,191 |
Derivative liabilities | [2] | 40,354 | 35,866 |
Total liabilities | 576,543 | 568,057 | |
Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 2,443,266 | 1,761,929 | |
Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 74,063 | 69,172 | |
Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 271,813 | 220,709 | |
Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 325,856 | 279,777 |
Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 382,874 | 359,750 |
Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 198,593 | 205,223 |
Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 2,461,348 | 1,532,386 | |
Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 45,821 | 16,253 | |
Marketable securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 288,895 | 270,120 | |
Other investments | [1] | 0 | |
Derivative assets | [2] | 0 | |
Total assets | 2,899,766 | 1,841,697 | |
Derivative liabilities | [2] | 0 | |
Total liabilities | 42,309 | 64,045 | |
Marketable securities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 394,295 | 10,011 | |
Marketable securities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 29,624 | 15,334 | |
Marketable securities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 24,980 | 14,774 | |
Marketable securities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | 2,690 |
Marketable securities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 117,209 | 94,156 |
Marketable securities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Marketable securities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 2,044,763 | 1,434,612 | |
Marketable securities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Securities investments and other | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 20,998 | 17,220 |
Derivative assets | [2] | 0 | |
Total assets | 3,613,761 | 2,890,842 | |
Derivative liabilities | [2] | 0 | |
Total liabilities | 493,880 | 468,146 | |
Securities investments and other | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 2,048,971 | 1,751,918 | |
Securities investments and other | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 44,439 | 53,838 | |
Securities investments and other | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 246,833 | 205,935 | |
Securities investments and other | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 325,856 | 277,087 |
Securities investments and other | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 265,665 | 265,594 |
Securities investments and other | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 198,593 | 205,223 |
Securities investments and other | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 416,585 | 97,774 | |
Securities investments and other | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 45,821 | 16,253 | |
Future insurance policy benefits | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 42,309 | 64,045 |
Policyholders' account | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 493,880 | 468,146 |
Other current assets and liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 0 | |
Derivative assets | [2] | 14,412 | 40,784 |
Total assets | 14,412 | 40,784 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 26,086 | 16,814 |
Total liabilities | 26,086 | 16,814 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Other current assets and liabilities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other current assets and liabilities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 0 | |
Derivative assets | [2] | 14,325 | 1,599 |
Total assets | 14,325 | 1,599 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 14,268 | 19,052 |
Total liabilities | 14,268 | 19,052 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Other noncurrent assets and liabilities | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 30,164 | 24,330 | |
Other investments | [1] | 7,544 | 7,162 |
Derivative assets | [2] | 261 | 1,310 |
Total assets | 1,795,103 | 983,546 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 1,116 | 2,077 |
Total liabilities | 1,116 | 2,077 | |
Level 1 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 1 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 0 | |
Level 1 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,757,134 | 950,744 | |
Level 1 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 2 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 258,731 | 245,790 | |
Other investments | [1] | 4,128 | 816 |
Derivative assets | [2] | 28,476 | 41,073 |
Total assets | 4,533,977 | 3,582,393 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 0 | |
Derivative liabilities | [2] | 39,238 | 33,789 |
Total liabilities | 39,238 | 33,789 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 2,443,266 | 1,761,929 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 74,063 | 69,172 | |
Level 2 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 264,644 | 220,679 | |
Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 325,856 | 279,777 |
Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 365,029 | 343,980 |
Level 2 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 44,104 | 33,383 |
Level 2 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 704,214 | 581,642 | |
Level 2 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 21,466 | 4,152 | |
Level 3 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading securities | 0 | ||
Other investments | [1] | 9,326 | 9,242 |
Derivative assets | [2] | 0 | |
Total assets | 213,184 | 208,983 | |
Future insurance policy benefits and policyholders' account in the life insurance business | [3] | 536,189 | 532,191 |
Derivative liabilities | [2] | 0 | |
Total liabilities | 536,189 | 532,191 | |
Level 3 | Fair Value, Measurements, Recurring | Japanese national government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Japanese local government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Japanese corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 7,169 | 30 | |
Level 3 | Fair Value, Measurements, Recurring | Foreign government bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [4] | 0 | |
Level 3 | Fair Value, Measurements, Recurring | Foreign corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [5] | 17,845 | 15,770 |
Level 3 | Fair Value, Measurements, Recurring | Securitized products | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | [6] | 154,489 | 171,840 |
Level 3 | Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 0 | ||
Level 3 | Fair Value, Measurements, Recurring | Other | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | ¥ 24,355 | ¥ 12,101 | |
[1] | Other investments include certain hybrid financial instruments and certain private equity investments. | ||
[2] | Derivative assets and liabilities are recognized and disclosed on a gross basis. | ||
[3] | Future insurance policy benefits and policyholders’ account in the life insurance business are those for which the fair value option has been elected. | ||
[4] | 7,771 million yen and 15,654 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021. In the consolidated balance sheets, 2,386 million yen are included as marketable securities for the fiscal years ended March 31, 2020 and 5,385 million yen and 15,654 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. | ||
[5] | 188,426 million yen and 228,761 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2020 and 2021, respectively. In the consolidated balance sheets, 34,502 million yen and 52,637 million yen are included as marketable securities and 153,924 million yen and 176,124 million yen are included as securities investment and other for the fiscal years ended March 31, 2020 and 2021, respectively. | ||
[6] | 193,430 million yen and 192,451 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2020 and 2021, respectively, and are included in the consolidated balance sheets as securities investments and other. |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Net gains from financial instruments for which fair value option has been elected | ¥ 4,645 | ¥ (12,408) |
Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 15,654 | 7,771 |
Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 228,761 | 188,426 |
Marketable securities | Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 2,386 | |
Marketable securities | Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 52,637 | 34,502 |
Securities investments and other | Level 2 | Fair Value, Measurements, Recurring | Foreign government bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 15,654 | 5,385 |
Securities investments and other | Level 2 | Fair Value, Measurements, Recurring | Foreign corporate bonds: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 176,124 | 153,924 |
Securities investments and other | Level 3 | Fair Value, Measurements, Recurring | Other: foreign securities for which fair value option has been elected | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | ¥ 192,451 | ¥ 193,430 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021Years | Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Dec. 31, 2019 | |
Minimum | Measurement Input, Mortality Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Minimum guaranteed benefits variable annuity | 0.004% | |||
Minimum | Measurement Input, Lapse Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Minimum guaranteed benefits variable annuity | 1.00% | |||
Minimum | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Minimum guaranteed benefits variable annuity | (0.046%) | |||
Maximum | Measurement Input, Mortality Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Maximum guaranteed benefits variable annuity | 44.865% | |||
Maximum | Measurement Input, Lapse Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Maximum guaranteed benefits variable annuity | 7.50% | |||
Maximum | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Maximum guaranteed benefits variable annuity | 3.379% | |||
Weighted Average | Measurement Input, Mortality Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Weighted average guaranteed benefits variable annuity | 0.896% | |||
Weighted Average | Measurement Input, Lapse Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Weighted average guaranteed benefits variable annuity | 4.312% | |||
Weighted Average | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Weighted average guaranteed benefits variable annuity | 0.967% | |||
Fair value measurements | Years | 50 | |||
Electronics Products & Solutions | Smartphone Business Asset Group | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impairment of long-lived assets | ¥ 12,714 | ¥ 19,172 | ||
Electronics Products & Solutions | Smartphone Business Asset Group | Level 3 | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | 10.6 | 8.5 | ||
Electronics Products & Solutions | Smartphone Business Asset Group | Minimum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | (10) | (26) | ||
Electronics Products & Solutions | Smartphone Business Asset Group | Maximum | Level 3 | Measurement Input, Long-term Revenue Growth Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | 70 | 24 | ||
All Other | Storage Media Business Asset Group | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impairment of long-lived assets | ¥ 12,858 | |||
All Other | Storage Media Business Asset Group | Level 3 | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | 8.9 | |||
All Other | Storage Media Business Asset Group | Minimum | Level 3 | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | (34) | |||
All Other | Storage Media Business Asset Group | Maximum | Level 3 | Measurement Input, Discount Rate [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value measurements | 21 |
Fair Value Measurements (Change
Fair Value Measurements (Changes in Fair Value of Level Three Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Japanese corporate bonds | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Purchases and Issuances | ¥ 7,600 | ¥ 30 | |
Foreign corporate bonds | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Purchases and Issuances | 5,441 | 13,597 | |
Securitized products | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Purchases and Issuances | 0 | 40,175 | |
Other | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 12,101 | ||
Purchases and Issuances | 11,215 | 12,101 | |
Sales | 0 | ||
Settlements | (4,681) | ||
Other | 28 | ||
Ending balance | 12,101 | ||
Other Investments | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 9,242 | 6,918 | |
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | 772 | |
Purchases and Issuances | 28 | 4,711 | |
Sales | (2) | (9) | |
Settlements | (825) | (1,878) | |
Other | 111 | ||
Ending balance | 9,326 | 9,242 | |
Future insurance policy benefits and Policyholders' account | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 532,191 | ||
Acquisition of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. | [2] | 547,190 | |
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | (16,475) | 12,500 |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | (3,120) | 3,032 |
Purchases and Issuances | 1,996 | 5,295 | |
Sales | 0 | 0 | |
Settlements | (17,593) | (4,762) | |
Transfers into level 3 | [4] | 0 | 0 |
Transfers out of level 3 | [5] | 0 | |
Ending balance | 536,189 | 532,191 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | (3,120) | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | (29,205) | 10,273 |
Available-for-sale securities | Japanese corporate bonds | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 30 | 0 | |
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | 0 | 0 |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | (461) | 0 |
Sales | 0 | 0 | |
Settlements | 0 | 0 | |
Other | 0 | ||
Transfers into level 3 | [4] | 0 | 0 |
Transfers out of level 3 | [5] | 0 | |
Ending balance | 7,169 | 30 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | (461) | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | 0 | 0 |
Available-for-sale securities | Foreign corporate bonds | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 15,770 | 22,704 | |
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | 1,465 | 311 |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | 73 | (73) |
Sales | 0 | 0 | |
Settlements | (7,835) | (20,867) | |
Other | (1,613) | ||
Transfers into level 3 | [4] | 4,544 | 3,374 |
Transfers out of level 3 | [5] | (3,276) | |
Ending balance | 17,845 | 15,770 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | 14 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | 600 | (94) |
Available-for-sale securities | Securitized products | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 171,840 | 165,083 | |
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | 14,000 | (18,151) |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | 0 | 1 |
Sales | 0 | 0 | |
Settlements | (34,488) | (12,967) | |
Other | 1,014 | ||
Transfers into level 3 | [4] | 2,123 | 0 |
Transfers out of level 3 | [5] | (2,301) | |
Ending balance | 154,489 | 171,840 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | 0 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | 17,419 | (16,507) |
Available-for-sale securities | Other | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | 5,703 | |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | (11) | |
Transfers into level 3 | [4] | 0 | |
Ending balance | 24,355 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | (17) | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | 0 | |
Available-for-sale securities | Other Investments | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | 9,242 | ||
Total realized and unrealized gains (losses), included in earnings (loss) | [1] | (500) | |
Total realized and unrealized gains (losses), included in other comprehensive income (loss) | [3] | 0 | 0 |
Transfers into level 3 | [4] | 0 | 0 |
Transfers out of level 3 | [5] | 0 | |
Ending balance | 9,242 | ||
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in other comprehensive income (loss) | [3] | 0 | |
Changes in unrealized gains (losses) relating to instruments still held at reporting date included in earnings (loss) | [1] | (77) | (376) |
Available-for-sale securities | Future insurance policy benefits and Policyholders' account | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | ¥ 532,191 | ||
Ending balance | ¥ 532,191 | ||
[1] | Earning effects are included in financial services revenue and financial services expense in the consolidated statements of income. | ||
[2] | Refer to Note 24. | ||
[3] | Unrealized gains (losses) are included in unrealized gains (losses) on securities, net for available-for-sale securities and included in debt valuation adjustments for future insurance policy benefits and policyholders’ account in the consolidated statements of comprehensive income. | ||
[4] | Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased. | ||
[5] | Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available. |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Remeasured At Fair Value on a Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | ¥ (25,685) | ¥ (22,656) |
Fair Value, Measurements, Nonrecurring | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Remeasurement of retained investment in SRE | 15,911 | |
Long-lived assets, Estimated fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-lived assets, Estimated fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-lived assets, Estimated fair value | 32,033 | 8,155 |
Remeasurement Of Retained Investment in SRE [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | 13,347 | |
Long-lived assets impairments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Nonrecurring changes in fair value, Amounts included in earnings | ¥ (25,685) | ¥ (36,003) |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments not Reported at Fair Value) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Housing loans in the banking business, Carrying amount | ¥ 2,354,546 | ¥ 1,927,054 | |
Total assets, Carrying amount | 26,354,840 | ¥ 23,032,784 | 23,039,343 |
Long-term debt including the current portion, Carrying amount | 904,993 | 664,773 | |
Total liabilities | 20,725,185 | ¥ 18,240,537 | 18,242,041 |
Estimated fair value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Housing loans in the banking business, Estimated fair value | 2,559,073 | 2,161,432 | |
Total assets, Estimated fair value | 2,559,073 | 2,161,432 | |
Long-term debt including the current portion, Estimated fair value | 951,874 | 699,358 | |
Investment contracts included in policyholders' account in the life insurance business, Estimated fair value | 1,159,195 | 969,464 | |
Total liabilities, Estimated fair value | 2,111,069 | 1,668,822 | |
Carrying amount | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Housing loans in the banking business, Carrying amount | 2,354,546 | 1,927,054 | |
Total assets, Carrying amount | 2,354,546 | 1,927,054 | |
Long-term debt including the current portion, Carrying amount | 904,993 | 664,773 | |
Investment contracts included in policyholders' account in the life insurance business, Carrying amount | 1,103,785 | 885,690 | |
Total liabilities | 2,008,778 | 1,550,463 | |
Level 2 | Estimated fair value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Housing loans in the banking business, Estimated fair value | 0 | 2,161,432 | |
Total assets, Estimated fair value | 0 | 2,161,432 | |
Long-term debt including the current portion, Estimated fair value | 911,885 | 699,358 | |
Investment contracts included in policyholders' account in the life insurance business, Estimated fair value | 1,159,195 | 969,464 | |
Total liabilities, Estimated fair value | 2,071,080 | ¥ 1,668,822 | |
Level 3 | Estimated fair value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Housing loans in the banking business, Carrying amount | 2,559,073 | ||
Total assets, Carrying amount | 2,559,073 | ||
Long-term debt including the current portion, Carrying amount | 39,989 | ||
Total liabilities | ¥ 39,989 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Estimated Fair Values of Outstanding Derivative Instruments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets | ¥ 28,737 | ¥ 42,383 |
Derivative liabilities | 40,354 | 35,866 |
Designated as hedging instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 10,929 | 1,835 |
Derivative liabilities | 12,350 | 8,360 |
Designated as hedging instrument | Interest rate contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 286 | 183 |
Designated as hedging instrument | Interest rate contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 6,064 | 8,177 |
Designated as hedging instrument | Interest rate contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 9 | |
Designated as hedging instrument | Interest rate contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 10,921 | 27 |
Designated as hedging instrument | Foreign exchange contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 6,000 | |
Designated as hedging instrument | Foreign exchange contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 8 | 1,799 |
Not designated as hedging instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 17,808 | 40,548 |
Derivative liabilities | 28,004 | 27,506 |
Not designated as hedging instrument | Interest rate contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 408 | 200 |
Not designated as hedging instrument | Interest rate contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 8,204 | 9,120 |
Not designated as hedging instrument | Interest rate contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 50 | 44 |
Not designated as hedging instrument | Interest rate contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,817 | 1,523 |
Not designated as hedging instrument | Foreign exchange contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 14,233 | 14,580 |
Not designated as hedging instrument | Foreign exchange contracts | Liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0 | 1,755 |
Not designated as hedging instrument | Foreign exchange contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 14,097 | 19,655 |
Not designated as hedging instrument | Foreign exchange contracts | Other assets: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 1,587 | 49 |
Not designated as hedging instrument | Equity Contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 5,157 | 1,476 |
Not designated as hedging instrument | Equity Contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 240 | 18,886 |
Not designated as hedging instrument | Bond contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 2 | 290 |
Not designated as hedging instrument | Bond contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 17 | 306 |
Not designated as hedging instrument | Commodity contracts | Current liabilities: Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0 | 85 |
Not designated as hedging instrument | Commodity contracts | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | ¥ 0 | ¥ 85 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Derivative [Line Items] | |||
Gain (Loss) from components excluded from assessment of fair value hedge effectiveness, net | ¥ 0 | ¥ 0 | ¥ 0 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities (Effects of Derivative Instruments on Consolidated Statements of Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | ¥ (1,189) | ¥ (3,925) | ¥ (1,835) |
Derivative assets | 28,737 | 42,383 | |
Not designated as hedging instrument | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (109,016) | 26,441 | (26,476) |
Derivative assets | 17,808 | 40,548 | |
Not designated as hedging instrument | Interest rate contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (9,603) | 1,190 | (3,192) |
Not designated as hedging instrument | Foreign exchange contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (10,730) | 2,473 | (8,198) |
Not designated as hedging instrument | Foreign exchange contracts | Foreign exchange loss, net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (8,454) | 10,184 | (7,437) |
Not designated as hedging instrument | Equity Contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (85,118) | 15,438 | (7,649) |
Not designated as hedging instrument | Bond contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 99 | (2,954) | |
Not designated as hedging instrument | Commodity contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | 4,790 | 110 | |
Amortized Cost | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 105,039 | 106,335 | |
Amortized Cost | Interest rate contracts | Marketable securities | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 30,167 | 15,255 | |
Amortized Cost | Interest rate contracts | Securities investments and other | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 74,872 | 91,080 | |
Fair Value Hedging | Interest rate contracts | Financial services revenue | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in income on derivative | (1,189) | (3,925) | (1,835) |
Cash Flow Hedging | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in OCI on derivative | (5,360) | (981) | (1,093) |
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | (5,360) | (981) | (1,093) |
Unrealized gain (loss) on cash flow hedging instruments | 8,206 | 2,799 | 2,315 |
Cash Flow Hedging | Interest rate contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Components included in the assessment of hedge effectiveness | 10,153 | 0 | 0 |
Cash Flow Hedging | Interest rate contracts | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in OCI on derivative | 285 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | 285 | 0 | 0 |
Cash Flow Hedging | Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in OCI on derivative | (2,210) | 1,712 | 2,315 |
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | (2,210) | 1,712 | 2,315 |
Gain (loss) from unrealized gains (losses) | 263 | 1,087 | 0 |
Cash Flow Hedging | Foreign exchange contracts | Cost of Sales | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gain or (loss) recognized in OCI on derivative | 0 | (1,093) | |
Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion) | 0 | (1,093) | |
Cash Flow Hedging | Foreign exchange contracts | Net sales | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) from unrealized gains (losses) | (263) | (1,087) | |
Components included in the assessment of hedge effectiveness | (5,382) | ¥ 106 | ¥ 0 |
Cumulative effect to carrying amount of hedged items by fair value hedges | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 0 | ||
Cumulative effect to carrying amount of hedged items by fair value hedges | Interest rate contracts | Marketable securities | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | 0 | ||
Cumulative effect to carrying amount of hedged items by fair value hedges | Interest rate contracts | Securities investments and other | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative assets | ¥ 0 |
Derivative Instruments and He_6
Derivative Instruments and Hedging Activities (Summary of Derivatives Additional Information Including Notional Amounts) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | |
Foreign exchange forward contracts | |||
Derivative [Line Items] | |||
Notional amount | [1] | ¥ 1,176,589 | ¥ 989,966 |
Fair value | [1] | (5,420) | 3,201 |
Currency option contracts purchased | |||
Derivative [Line Items] | |||
Notional amount | 36,234 | 473 | |
Fair value | 15 | 7 | |
Currency option contracts written | |||
Derivative [Line Items] | |||
Notional amount | 36,164 | 460 | |
Fair value | (1,790) | (5) | |
Currency swap agreements | |||
Derivative [Line Items] | |||
Notional amount | 612,813 | 893,874 | |
Fair value | 490 | (1,006) | |
Other currency contracts | |||
Derivative [Line Items] | |||
Notional amount | [1] | 68,663 | 62,080 |
Fair value | [1] | 2,164 | 2,971 |
Interest rate swap agreements | |||
Derivative [Line Items] | |||
Notional amount | 979,554 | 994,133 | |
Fair value | (1,969) | (16,019) | |
Interest rate swaption agreements | |||
Derivative [Line Items] | |||
Notional amount | 38,700 | 18,700 | |
Fair value | (205) | (58) | |
Equity future contracts | |||
Derivative [Line Items] | |||
Notional amount | 129,526 | 63,354 | |
Fair value | (746) | (871) | |
Equity swap agreements | |||
Derivative [Line Items] | |||
Notional amount | 117,055 | 103,409 | |
Fair value | (4,171) | 18,281 | |
Bond future contracts | |||
Derivative [Line Items] | |||
Notional amount | 169,441 | 56,546 | |
Fair value | 15 | 16 | |
Commodity future contracts | |||
Derivative [Line Items] | |||
Notional amount | 2,957 | 1,465 | |
Fair value | ¥ 0 | ¥ 0 | |
[1] | Revision has been made to correct the notional amount of foreign exchange forward contracts and the presentation of fair values of foreign exchange forward contracts and other currency contracts as of March 31, 2020. |
Derivative Instruments and He_7
Derivative Instruments and Hedging Activities (Summary of Effects of Offsetting Derivative Assets, Derivative Liabilities, Financial Assets and Financial Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Total asset | ¥ 28,737 | ¥ 42,383 |
Gross amounts presented in consolidated balance sheet, Total asset | 354,893 | 42,383 |
Financial instruments, Total asset | 336,822 | 12,614 |
Cash collateral, Total asset | 2,008 | 20,545 |
Net amounts, Total asset | 16,063 | 9,224 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 40,354 | 35,866 |
Cash collateral, Derivative liability | 0 | |
Gross amounts presented in the consolidated balance sheet, Repurchase, securities lending and similar arrangements | 917,792 | 567,194 |
Financial instruments, Repurchase, securities lending and similar arrangements | 911,881 | 564,874 |
Net amounts, Repurchase, securities lending and similar arrangements | 5,911 | 2,320 |
Gross amounts presented in the consolidated balance sheet, Total liabilities | 958,146 | 603,060 |
Financial instruments, Total liabilities | 922,933 | 571,960 |
Cash collateral, Total liabilities | 16,225 | 23,873 |
Net amounts, Total liabilities | 18,988 | 7,227 |
Gross amounts presented in the consolidated balance sheet, Securities borrowing and Securities Lending Transactions | 326,156 | |
Financial instruments, Securities borrowing and Securities Lending Transactions | 326,156 | |
Subject to master netting arrangement | ||
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Total asset | 15,159 | 38,281 |
Financial instruments, Total asset | 10,666 | 12,614 |
Cash collateral, Total asset | 2,008 | 20,545 |
Net amounts, Total asset | 2,485 | 5,122 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 38,966 | 31,896 |
Financial instruments, Derivative liability | 11,052 | 7,086 |
Cash collateral, Derivative liability | 16,225 | 23,873 |
Net amounts, Derivative liability | 11,689 | 937 |
Not subject to master netting arrangement | ||
Offsetting Asset and Liabilities [Line Items] | ||
Gross amounts presented in consolidated balance sheet, Total asset | 13,578 | 4,102 |
Net amounts, Total asset | 13,578 | 4,102 |
Gross amounts presented in the consolidated balance sheet, Derivative liability | 1,388 | 3,970 |
Net amounts, Derivative liability | ¥ 1,388 | ¥ 3,970 |
Pension and Severance Plans - A
Pension and Severance Plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of the indemnities under existing regulations to employees covered by defined benefits | 65.00% | |||
Increase Decrease in accumulated other comprehensive income | ¥ 81,230 | |||
Loss on the pension plan amendment | 6,358 | |||
Increase Decrease in accrued pension and severance costs | 74,872 | |||
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contribution in defined benefit pension plans | ¥ 2,000 | |||
Loss on the pension plan amendment | 6,358 | |||
Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 20.00% | |||
Japan | Fixed income funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 51.00% | |||
Japan | Other investment funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 29.00% | |||
Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contribution in defined benefit pension plans | ¥ 12,000 | |||
Loss on the pension plan amendment | ¥ 2,128 | ¥ 68 | ¥ 1,804 | |
Foreign plans | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 29.00% | |||
Foreign plans | Fixed income funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 6.00% | |||
Foreign plans | Other investment funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percentage of investments in equity securities for the pension plans | 65.00% |
Pension and Severance Plans (Co
Pension and Severance Plans (Components of Net Periodic Benefit Costs) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Losses on curtailments and settlements | ¥ 6,358 | ||
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | ¥ 12,763 | 17,948 | ¥ 23,128 |
Interest cost | 3,684 | 4,162 | 7,020 |
Expected return on plan assets | (10,802) | (17,040) | (16,695) |
Recognized actuarial loss | 8,852 | 12,969 | 15,365 |
Amortization of prior service costs | (343) | (4,294) | (7,864) |
Losses on curtailments and settlements | 6,358 | ||
Net periodic benefit costs | 14,154 | 20,103 | 20,954 |
Foreign plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 2,767 | 3,616 | 2,780 |
Interest cost | 6,509 | 9,212 | 10,083 |
Expected return on plan assets | (6,395) | (10,916) | (11,797) |
Recognized actuarial loss | 3,614 | 2,606 | 2,656 |
Amortization of prior service costs | 1,058 | 2 | (269) |
Losses on curtailments and settlements | 2,128 | 68 | 1,804 |
Net periodic benefit costs | ¥ 9,681 | ¥ 4,588 | ¥ 5,257 |
Pension and Severance Plans (Ch
Pension and Severance Plans (Changes in Benefit Obligation and Plan Assets as well as Funded Status and Composition of Amounts Recognized in Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Japan | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of the fiscal year | ¥ 658,863 | ¥ 1,034,954 | |
Service cost | 12,763 | 17,948 | ¥ 23,128 |
Interest cost | 3,684 | 4,162 | 7,020 |
Plan participants' contributions | 0 | ||
Actuarial (gain) loss | 271 | (3,330) | |
Curtailments and settlements | 0 | (359,205) | |
Other | 43 | 2 | |
Benefits paid | (35,563) | (35,668) | |
Benefit obligation at end of the fiscal year | 640,061 | 658,863 | 1,034,954 |
Change in plan assets: | |||
Fair value of plan assets at beginning of the fiscal year | 437,206 | 742,204 | |
Actual return on plan assets | 59,536 | 2,942 | |
Foreign currency exchange rate changes | 0 | ||
Employer contribution | 2,333 | 7,453 | |
Plan participants' contributions | 0 | ||
Curtailments and settlements | 0 | (284,333) | |
Benefits paid | (22,664) | (31,060) | |
Fair value of plan assets at end of the fiscal year | 476,411 | 437,206 | 742,204 |
Funded status at end of the fiscal year | (163,650) | (221,657) | |
Foreign plans | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of the fiscal year | 359,811 | 351,918 | |
Service cost | 2,767 | 3,616 | 2,780 |
Interest cost | 6,509 | 9,212 | 10,083 |
Plan participants' contributions | 269 | 487 | |
Plan amendments | 157 | 10,210 | |
Actuarial (gain) loss | 32,432 | 19,776 | |
Foreign currency exchange rate changes | 29,486 | (16,919) | |
Curtailments and settlements | (14,587) | (4,434) | |
Effect of changes in consolidated subsidiaries | 0 | ||
Benefits paid | (18,555) | (14,055) | |
Benefit obligation at end of the fiscal year | 398,289 | 359,811 | 351,918 |
Change in plan assets: | |||
Fair value of plan assets at beginning of the fiscal year | 281,110 | 274,749 | |
Actual return on plan assets | (596) | 26,738 | |
Foreign currency exchange rate changes | 25,433 | (14,904) | |
Employer contribution | 38,169 | 9,916 | |
Plan participants' contributions | 269 | 487 | |
Curtailments and settlements | (11,927) | (3,146) | |
Benefits paid | (16,967) | (12,730) | |
Fair value of plan assets at end of the fiscal year | 315,491 | 281,110 | ¥ 274,749 |
Funded status at end of the fiscal year | ¥ (82,798) | ¥ (78,701) |
Pension and Severance Plans (Am
Pension and Severance Plans (Amounts Recognized in Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | ¥ 5,746 | ¥ 3,391 |
Noncurrent liabilities | (169,396) | (225,048) |
Ending balance | (163,650) | (221,657) |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent assets | 13,660 | 24,777 |
Current liabilities | (12,364) | (4,355) |
Noncurrent liabilities | (84,094) | (99,123) |
Ending balance | ¥ (82,798) | ¥ (78,701) |
Pension and Severance Plans (_2
Pension and Severance Plans (Amounts Recognized in Accumulated Other Comprehensive Income, Excluding Tax Effects) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost (credit) | ¥ (26) | ¥ (369) |
Net actuarial loss | 163,401 | 223,354 |
Ending balance | 163,375 | 222,985 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost (credit) | 9,350 | 10,058 |
Net actuarial loss | 102,821 | 66,326 |
Ending balance | ¥ 112,171 | ¥ 76,384 |
Pension and Severance Plans (Ac
Pension and Severance Plans (Accumulated Benefit Obligations for All Defined Benefit Pension Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 635,285 | ¥ 654,209 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 392,375 | ¥ 354,100 |
Pension and Severance Plans (_3
Pension and Severance Plans (Accumulated Benefit Obligations and Fair Value of Plan Assets for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 621,296 | ¥ 640,890 |
Fair value of plan assets | 456,662 | 420,497 |
Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 200,020 | 226,080 |
Fair value of plan assets | ¥ 109,468 | ¥ 130,955 |
Pension and severance plans (Pr
Pension and severance plans (Projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
JAPAN | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | ¥ 626,057 | ¥ 645,544 |
Fair value of plan assets | 456,662 | 420,497 |
Foreign Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | 205,915 | 234,652 |
Fair value of plan assets | ¥ 109,468 | ¥ 131,546 |
Pension and Severance Plans (We
Pension and Severance Plans (Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs) (Detail) | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Japan | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 0.60% | 0.60% | |
Interest crediting rate | 3.40% | 3.40% | |
Rate of compensation increase | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 0.60% | 0.60% | 0.80% |
Expected return on plan assets | 2.50% | 2.60% | 2.60% |
Interest crediting rate | 3.40% | 3.50% | 3.50% |
Rate of compensation increase | |||
Foreign plans | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 1.40% | 2.00% | |
Interest crediting rate | 4.80% | 4.80% | |
Rate of compensation increase | 2.50% | 2.20% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 2.00% | 2.80% | 2.90% |
Expected return on plan assets | 2.30% | 4.20% | 4.40% |
Interest crediting rate | 4.80% | 4.80% | 4.80% |
Rate of compensation increase | 2.20% | 2.30% | 2.60% |
Pension and Severance Plans (Fa
Pension and Severance Plans (Fair Values of Assets Held by Japanese and Foreign Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |||
Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | ¥ 476,411 | ¥ 437,206 | ¥ 742,204 | |||
Japan | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 53,298 | 24,851 | ||||
Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 63,927 | 50,646 | |||
Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 116,687 | 107,478 | |||
Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 30,348 | 71,192 | |||
Japan | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [4] | 1,029 | 1,090 | |||
Japan | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [5] | 89,281 | 58,740 | |||
Japan | Commodity Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [6] | 22,283 | 21,823 | |||
Japan | Private equity | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [7] | 29,153 | 30,191 | |||
Japan | Hedge funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [8] | 47,384 | 48,410 | |||
Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 23,021 | 22,785 | |||
Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 315,491 | 281,110 | 274,749 | |||
Foreign plans | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 5,914 | 4,632 | ||||
Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 11,349 | 18,380 | |||
Foreign plans | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [11] | 18,843 | 93,826 | |||
Foreign plans | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [12] | 59,071 | 31,769 | |||
Foreign plans | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 120 | 1,320 | ||||
Foreign plans | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [13] | 59,867 | 78,280 | |||
Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 3,760 | 33,569 | |||
Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [14] | 156,567 | 19,334 | |||
Level 1 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 114,412 | 73,266 | ||||
Level 1 | Japan | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 53,298 | 24,851 | ||||
Level 1 | Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 59,946 | 47,308 | |||
Level 1 | Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 1,149 | 1,087 | |||
Level 1 | Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 19 | 20 | |||
Level 1 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 16,545 | 22,394 | ||||
Level 1 | Foreign plans | Cash and cash equivalents | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 5,914 | 4,632 | ||||
Level 1 | Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 10,631 | 17,762 | |||
Level 2 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 259,953 | 259,968 | ||||
Level 2 | Japan | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [1] | 3,981 | 3,338 | |||
Level 2 | Japan | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [2] | 115,538 | 106,391 | |||
Level 2 | Japan | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [3] | 30,329 | 71,172 | |||
Level 2 | Japan | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [4] | 1,029 | 1,090 | |||
Level 2 | Japan | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [5] | 89,281 | 58,740 | |||
Level 2 | Japan | Commodity Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [6] | 22,283 | 21,823 | |||
Level 2 | Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | (2,488) | (2,586) | |||
Level 2 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 146,168 | 224,241 | ||||
Level 2 | Foreign plans | Equity securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [10] | 718 | 618 | |||
Level 2 | Foreign plans | Government bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [11] | 18,843 | 93,826 | |||
Level 2 | Foreign plans | Corporate bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [12] | 59,071 | 31,769 | |||
Level 2 | Foreign plans | Asset-backed securities | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 120 | 1,320 | ||||
Level 2 | Foreign plans | Commingled funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [13] | 59,867 | 78,280 | |||
Level 2 | Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [9] | 69 | 11,272 | |||
Level 2 | Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | [14] | 7,480 | 7,156 | |||
Level 3 | Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 102,046 | 103,972 | 120,954 | |||
Level 3 | Japan | Private equity | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 29,153 | [7] | 30,191 | [7] | 27,956 | |
Level 3 | Japan | Hedge funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 47,384 | [8] | 48,410 | [8] | 71,606 | |
Level 3 | Japan | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 25,509 | [9] | 25,371 | [9] | 21,392 | |
Level 3 | Foreign plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 152,778 | 34,475 | 34,583 | |||
Level 3 | Foreign plans | Real estate and other | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | 3,691 | [9] | 22,297 | [9] | 22,089 | |
Level 3 | Foreign plans | Insurance contracts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair values of the assets held | ¥ 149,087 | [14] | ¥ 12,178 | [14] | ¥ 12,494 | |
[1] | Includes approximately 37 percent and 42 percent of Japanese equity securities, and 63 percent and 58 percent of foreign equity securities for the fiscal years ended March 31, 2020 and 2021, respectively. | |||||
[2] | Includes approximately 36 percent of debt securities issued by Japanese national and local governments, and 64 percent of debt securities issued by foreign national and local governments for the fiscal years ended March 31, 2020 and 2021. | |||||
[3] | Includes debt securities issued by Japanese and foreign corporation and government related agencies. | |||||
[4] | Includes primarily mortgage-backed securities. | |||||
[5] | Commingled funds represent pooled institutional investments, including primarily investment trusts. They include approximately 50 percent and 54 percent of investments in equity, 45 percent and 43 percent of investments in fixed income, and 5 percent and 3 percent of investments in other for the fiscal years ended March 31, 2020 and 2021, respectively. | |||||
[6] | Represents commodity futures funds. | |||||
[7] | Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. | |||||
[8] | Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. | |||||
[9] | Includes primarily private real estate investment trusts. | |||||
[10] | Includes primarily foreign equity securities. | |||||
[11] | Includes primarily foreign government debt securities. | |||||
[12] | Includes primarily foreign corporate debt securities. | |||||
[13] | Commingled funds represent pooled institutional investments including mutual funds, common trust funds, and collective investment funds. They are primarily comprised of foreign equities and fixed income investments. | |||||
[14] | Represents annuity contracts with or without profit sharing. |
Pension and Severance Plans (_4
Pension and Severance Plans (Fair Values of Assets Held by Japanese and Foreign Plans) (Parenthetical) (Detail) | Mar. 31, 2021 | Mar. 31, 2020 |
Commingled funds | Equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 54.00% | 50.00% |
Commingled funds | Fixed Income Securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 43.00% | 45.00% |
Commingled funds | Other investment funds | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 3.00% | 5.00% |
Japanese equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 42.00% | 37.00% |
Foreign equity securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 58.00% | 63.00% |
Japanese National and Local Government Debt Securities | Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 36.00% | |
Foreign National and Local Government Debt Securities | Foreign plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of investments | 64.00% |
Pension and Severance Plans (Su
Pension and Severance Plans (Summary of Changes in Fair Values of Japanese and Foreign Plans' Level Three Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | |||
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | ¥ 437,206 | ¥ 742,204 | ||
Fair value of plan assets at end of the fiscal year | 476,411 | 437,206 | ||
Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [1] | 30,191 | ||
Fair value of plan assets at end of the fiscal year | [1] | 29,153 | 30,191 | |
Japan | Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [2] | 48,410 | ||
Fair value of plan assets at end of the fiscal year | [2] | 47,384 | 48,410 | |
Japan | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [3] | 22,785 | ||
Fair value of plan assets at end of the fiscal year | [3] | 23,021 | 22,785 | |
Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 281,110 | 274,749 | ||
Fair value of plan assets at end of the fiscal year | 315,491 | 281,110 | ||
Foreign plans | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [3] | 33,569 | ||
Fair value of plan assets at end of the fiscal year | [3] | 3,760 | 33,569 | |
Foreign plans | Insurance contracts | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | [4] | 19,334 | ||
Fair value of plan assets at end of the fiscal year | [4] | 156,567 | 19,334 | |
Level 3 | Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 103,972 | 120,954 | ||
Return on assets held at end of year | 13,550 | 2,419 | ||
Purchases, sales, and settlements, net | (5,087) | (19,401) | ||
Transfers, net | (10,389) | |||
Fair value of plan assets at end of the fiscal year | 102,046 | 103,972 | ||
Level 3 | Japan | Private equity | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 30,191 | [1] | 27,956 | |
Return on assets held at end of year | 7,793 | 2,649 | ||
Purchases, sales, and settlements, net | (1,083) | (414) | ||
Transfers, net | (7,748) | |||
Fair value of plan assets at end of the fiscal year | [1] | 29,153 | 30,191 | |
Level 3 | Japan | Hedge funds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 48,410 | [2] | 71,606 | |
Return on assets held at end of year | 4,199 | (648) | ||
Purchases, sales, and settlements, net | (4,182) | (22,548) | ||
Transfers, net | (1,043) | |||
Fair value of plan assets at end of the fiscal year | [2] | 47,384 | 48,410 | |
Level 3 | Japan | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 25,371 | [3] | 21,392 | |
Return on assets held at end of year | 1,558 | 418 | ||
Purchases, sales, and settlements, net | 178 | 3,561 | ||
Transfers, net | (1,598) | |||
Fair value of plan assets at end of the fiscal year | [3] | 25,509 | 25,371 | |
Level 3 | Foreign plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 34,475 | 34,583 | ||
Return on assets held at end of year | (4,306) | 691 | ||
Purchases, sales, and settlements, net | 120,164 | 382 | ||
Other | [5] | 2,445 | (1,181) | |
Fair value of plan assets at end of the fiscal year | 152,778 | 34,475 | ||
Level 3 | Foreign plans | Real estate and other | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 22,297 | [3] | 22,089 | |
Return on assets held at end of year | (402) | 132 | ||
Purchases, sales, and settlements, net | (19,605) | 755 | ||
Other | [5] | 1,401 | (679) | |
Fair value of plan assets at end of the fiscal year | [3] | 3,691 | 22,297 | |
Level 3 | Foreign plans | Insurance contracts | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets at beginning of the fiscal year | 12,178 | [4] | 12,494 | |
Return on assets held at end of year | (3,904) | 559 | ||
Purchases, sales, and settlements, net | 139,769 | (373) | ||
Other | [5] | 1,044 | (502) | |
Fair value of plan assets at end of the fiscal year | [4] | ¥ 149,087 | ¥ 12,178 | |
[1] | Includes multiple private equity funds of funds that primarily invest in venture, buyout, and distressed markets in the United States and Europe. | |||
[2] | Includes primarily funds that invest in a portfolio of a broad range of hedge funds to diversify the risks and reduce the volatilities associated with a single hedge fund. | |||
[3] | Includes primarily private real estate investment trusts. | |||
[4] | Represents annuity contracts with or without profit sharing. | |||
[5] | Primarily consists of translation adjustments. |
Pension and Severance Plans (Ex
Pension and Severance Plans (Expected Future Benefit Payments) (Detail) ¥ in Millions | Mar. 31, 2021JPY (¥) |
Japan | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | ¥ 38,662 |
2023 | 36,885 |
2024 | 38,468 |
2025 | 37,414 |
2026 | 37,947 |
2027 - 2031 | 183,084 |
Foreign plans | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | 106,434 |
2023 | 12,742 |
2024 | 13,063 |
2025 | 13,633 |
2026 | 13,735 |
2027 - 2031 | ¥ 76,482 |
Pension and Severance Plans (To
Pension and Severance Plans (Total Defined Contribution Expenses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Japan | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution expenses | ¥ 10,992 | ¥ 6,925 | ¥ 3,353 |
Foreign plans | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Defined contribution expenses | ¥ 9,639 | ¥ 10,313 | ¥ 11,602 |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Number of Shares of Common Stock Issued and Outstanding) (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Equity [Abstract] | |||
Common stock, shares issued, beginning balance | 1,261,058,781 | 1,271,230,341 | 1,266,552,149 |
Issuance of new shares | 184,900 | 149,900 | |
Exercise of stock acquisition rights | 2,294,900 | 4,525,300 | |
Conversion of convertible bonds | 86,040 | 2,992 | |
Cancellation of treasury stock | (12,737,400) | ||
Common stock, shares issued, ending balance | 1,261,058,781 | 1,261,058,781 | 1,271,230,341 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2021JPY (¥)shares | Mar. 31, 2020JPY (¥)shares | Mar. 31, 2020USD ($)shares | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 26, 2020shares | |
Stockholders Equity Note [Line Items] | ||||||
Common stock shares would be issued upon conversion or exercise of all convertible bonds and stock acquisition rights outstanding | shares | 22,289,133 | |||||
Number of shares repurchased | shares | 33,059,200 | 33,059,200 | ||||
Stock repurchase amount | ¥ 199,999 | |||||
Retained earnings available for dividends to shareholders | ¥ 913,889 | |||||
Undistributed earnings of affiliated companies accounted for by equity method | 71,417 | 61,226 | ||||
Cash consideration for acquisition | 366 | ¥ 200,211 | ¥ 100,177 | |||
Sony Financial Holdings Inc [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Cash consideration for acquisition | 396,698 | |||||
Decrease in the carrying amount of the noncontrolling interests due to acquisition | 622,364 | |||||
Increase in accumulated other comprehensive income due to acquisition | 30,203 | |||||
Increase to additional paid-in capital due to acquisition | ¥ 195,463 | |||||
Treasury Stock [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Number of treasury stocks retired during the period | shares | 12,737,400 | |||||
Nile Acquisition LLC | ||||||
Stockholders Equity Note [Line Items] | ||||||
Percentage of equity ownership | 25.10% | 25.10% | ||||
Businesses acquisition payment of cash consideration | $ | $ 287.5 | |||||
Decrease to additional paid-in capital resulting from difference between cash consideration paid and decrease in noncontrolling interests | $ | $ 295.9 | |||||
Game Show Network, LLC [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Percentage of equity ownership | 42.00% | |||||
Businesses acquisition payment of cash consideration | ¥ 53,992 | $ 496 | ||||
Dividends distributed | $ | $ 129 |
Stockholders' Equity (Changes_2
Stockholders' Equity (Changes in Accumulated Other Comprehensive Income, Net of Tax) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | ¥ 4,789,535 | ¥ 4,436,690 | ¥ 3,647,157 | |
Cumulative effect of ASU 2016-01 | (2,118) | |||
Other comprehensive income before reclassifications | 9,921 | (48,774) | 22,063 | |
Net other comprehensive income | 15,692 | 43,772 | 28,992 | |
Less: Other comprehensive income attributable to noncontrolling interests | (11,368) | 14,082 | 7,390 | |
Transactions with noncontrolling interests shareholders and other | (387,116) | (38,257) | (48,947) | |
Ending Balance | 5,621,476 | 4,789,535 | 4,436,690 | |
Accumulated other comprehensive income (loss) | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (580,980) | (610,670) | (616,746) | |
Cumulative effect of ASU 2016-01 | (15,526) | |||
Amounts reclassified out of accumulated other comprehensive income | [1] | 5,771 | 92,546 | 6,929 |
Transactions with noncontrolling interests shareholders and other | 29,900 | |||
Ending Balance | (524,020) | (580,980) | (610,670) | |
Unrealized gains (losses) on securities | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 161,191 | 135,035 | 126,191 | |
Cumulative effect of ASU 2016-01 | (15,526) | |||
Other comprehensive income before reclassifications | (102,588) | 40,334 | 33,124 | |
Amounts reclassified out of accumulated other comprehensive income | [1] | 96 | 56 | 161 |
Net other comprehensive income | (102,492) | 40,390 | 33,285 | |
Less: Other comprehensive income attributable to noncontrolling interests | (11,971) | 14,234 | 8,915 | |
Transactions with noncontrolling interests shareholders and other | 30,635 | |||
Ending Balance | 101,305 | 161,191 | 135,035 | |
Pension liability adjustment | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (235,520) | (310,457) | (296,444) | |
Other comprehensive income before reclassifications | 2,358 | (17,519) | (23,448) | |
Amounts reclassified out of accumulated other comprehensive income | [1] | 10,607 | 92,490 | 9,488 |
Net other comprehensive income | 12,965 | 74,971 | (13,960) | |
Less: Other comprehensive income attributable to noncontrolling interests | 3 | 34 | 53 | |
Transactions with noncontrolling interests shareholders and other | (910) | |||
Ending Balance | (223,468) | (235,520) | (310,457) | |
Foreign currency translation adjustments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (509,872) | (435,229) | (445,251) | |
Other comprehensive income before reclassifications | 107,661 | (75,814) | 10,071 | |
Amounts reclassified out of accumulated other comprehensive income | [1] | (835) | (74) | (1,627) |
Net other comprehensive income | 106,826 | (75,888) | 8,444 | |
Less: Other comprehensive income attributable to noncontrolling interests | 1,183 | (1,245) | (1,578) | |
Transactions with noncontrolling interests shareholders and other | (300) | |||
Ending Balance | (404,529) | (509,872) | (435,229) | |
Unrealized gains (losses) on derivative instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 1,248 | (19) | (1,242) | |
Other comprehensive income before reclassifications | 5,571 | 1,193 | 2,316 | |
Amounts reclassified out of accumulated other comprehensive income | [1] | (4,058) | 74 | (1,093) |
Net other comprehensive income | 1,513 | 1,267 | 1,223 | |
Transactions with noncontrolling interests shareholders and other | 475 | |||
Ending Balance | 2,761 | 1,248 | ¥ (19) | |
Debt valuation adjustments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 1,973 | |||
Other comprehensive income before reclassifications | (3,081) | 3,032 | ||
Amounts reclassified out of accumulated other comprehensive income | [1] | (39) | ||
Net other comprehensive income | (3,120) | 3,032 | ||
Less: Other comprehensive income attributable to noncontrolling interests | (583) | 1,059 | ||
Ending Balance | ¥ (89) | ¥ 1,973 | ||
[1] | Foreign currency translation adjustments were transferred from accumulated other comprehensive income to net income as a result of a complete or substantially complete liquidation or sale of certain foreign subsidiaries and affiliates. |
Stockholders' Equity (Reclassif
Stockholders' Equity (Reclassifications Out of Accumulated Other Comprehensive Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Cost of sales | ¥ (5,072,596) | ¥ (4,753,174) | ¥ (5,150,750) | |
Interest | 12,185 | 11,090 | 12,467 | |
Income before income taxes | 1,192,370 | 799,450 | 1,011,648 | |
Tax expense or (benefit) | (995) | (177,190) | (45,098) | |
Net income attributable to Sony Group Corporation's stockholders | 1,171,776 | 582,191 | 916,271 | |
Amount reclassified from accumulated other comprehensive income (loss) | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income attributable to Sony Group Corporation's stockholders | 5,771 | 92,546 | 6,929 | |
Amount reclassified from accumulated other comprehensive income (loss) | Unrealized gains (losses) on securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Financial services revenue | 130 | 82 | 235 | |
Income before income taxes | (5,097) | 106 | (1,093) | |
Tax expense or (benefit) | (34) | (26) | (74) | |
Net income attributable to Sony Group Corporation's stockholders | 96 | 56 | 161 | |
Amount reclassified from accumulated other comprehensive income (loss) | Unrealized gains (losses) on derivative instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Cost of sales | (1,093) | |||
Net sales | (5,382) | 106 | ||
Interest | 285 | |||
Tax expense or (benefit) | 1,039 | (32) | ||
Net income attributable to Sony Group Corporation's stockholders | (4,058) | 74 | (1,093) | |
Amount reclassified from accumulated other comprehensive income (loss) | Pension liability adjustment | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pension liability adjustment | [1] | 13,181 | 92,514 | 9,891 |
Tax expense or (benefit) | (2,574) | (24) | (403) | |
Net income attributable to Sony Group Corporation's stockholders | 10,607 | 92,490 | 9,488 | |
Amount reclassified from accumulated other comprehensive income (loss) | Foreign currency translation adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Foreign currency translation adjustments | (835) | (74) | (1,627) | |
Net income attributable to Sony Group Corporation's stockholders | (835) | ¥ (74) | ¥ (1,627) | |
Amount reclassified from accumulated other comprehensive income (loss) | Debt Valuation Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Debt valuation adjustments | (39) | |||
Net income attributable to Sony Group Corporation's stockholders | ¥ (39) | |||
[1] | The amortization of pension and postretirement benefit components is included in the computation of net periodic pension cost. Refer to Note 15. |
Stockholders' Equity (Net Incom
Stockholders' Equity (Net Income Attributable to Sony Corporation's Stockholders and Transfers (to) from Noncontrolling Interests) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Equity [Abstract] | |||
Net income attributable to Sony Group Corporation's stockholders | ¥ 1,171,776 | ¥ 582,191 | ¥ 916,271 |
Transfers (to) from the noncontrolling interests: | |||
Increase (decrease) in additional paid-in capital for purchase of additional shares in consolidated subsidiaries | 196,002 | 16,372 | (22,775) |
Change from net income attributable to Sony Group Corporation's stockholders and transfers (to) from the noncontrolling interests | ¥ 1,367,778 | ¥ 598,563 | ¥ 893,496 |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plans - Additional Information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | ¥ 8,927 | ¥ 5,958 | ¥ 5,499 |
Total cash received from exercise of stock acquisition rights plans | ¥ 12,430 | ¥ 7,560 | ¥ 12,757 |
Stock Acquisition Rights Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation plan, vesting period | 3 years | ||
Weighted-average fair value per share of stock acquisition rights granted | ¥ 2,207 | ¥ 1,864 | ¥ 1,593 |
Total intrinsic value of shares exercised under stock acquisition rights plan | ¥ 15,202 | ¥ 7,575 | ¥ 13,325 |
Total unrecognized compensation expense | ¥ 9,119 | ||
Total unrecognized compensation expense, weighted-average period to be recognized | 2 years 21 days | ||
Stock Acquisition Rights Plan | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation plan, expiration period | 10 years |
Stock-Based Compensation Plan_3
Stock-Based Compensation Plans (Weighted-Average Assumptions used to Determine Fair Value of Stock Acquisition Rights Granted) (Detail) | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Share-based Payment Arrangement [Abstract] | ||||
Risk-free interest rate | 0.17% | 0.70% | 1.37% | |
Expected lives | 5 years 4 months 28 days | 5 years 8 months 23 days | 5 years 11 months 23 days | |
Expected volatility | [1] | 26.97% | 29.30% | 32.52% |
Expected dividends | 0.34% | 0.32% | 0.35% | |
[1] | Expected volatility was based on the historical volatilities of Sony Group Corporation’s common stock over the expected life of the stock acquisition rights. |
Stock-Based Compensation Plan_4
Stock-Based Compensation Plans (Summary of Activities Regarding Stock Acquisition Rights Plan) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Number of shares | |||
Exercised | 2,294,900 | 4,525,300 | |
Stock Acquisition Rights Plan | |||
Number of shares | |||
Outstanding at beginning of the fiscal year | 12,876,700 | ||
Granted | 4,534,600 | ||
Exercised | 3,178,300 | ||
Forfeited or expired | 210,600 | ||
Outstanding at end of the fiscal year | 14,022,400 | 12,876,700 | |
Exercisable at end of the fiscal year | 5,800,700 | ||
Weighted average exercise price | |||
Outstanding at beginning of the fiscal year | ¥ 4,982 | ||
Granted | 9,221 | ||
Exercised | 3,911 | ||
Forfeited or expired | 6,280 | ||
Outstanding at end of the fiscal year | 6,653 | ¥ 4,982 | |
Exercisable at end of the fiscal year | ¥ 4,535 | ||
Weighted-average remaining life | |||
Outstanding at end of the fiscal year | 7 years 9 months 18 days | ||
Exercisable at end of the fiscal year | 6 years 4 months 2 days | ||
Total intrinsic Value | |||
Outstanding at end of the fiscal year | ¥ 68,218 | ||
Exercisable at end of the fiscal year | ¥ 38,794 |
Revenue - Schedule of Receivabl
Revenue - Schedule of Receivables, Contract Assets and Contract Liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | |
Contract with customer, asset and liability | |||
Receivables from contracts with customers | [1] | ¥ 1,176,828 | ¥ 1,126,597 |
Contract assets | [1] | 12,204 | 13,985 |
Contract liabilities | [2] | ¥ 294,911 | ¥ 271,286 |
[1] | Receivables from contracts with customers and contract assets are included in the consolidated balance sheets as “Notes and accounts receivable, trade and contract assets” and “Other”, non-current. | ||
[2] | Contract liabilities are included in the consolidated balance sheets as “Other”, both current and non-current. |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue From Contract With Customers [Line Items] | ||
Revenue recognized related to contract liability | ¥ 216,931 | ¥ 204,265 |
Revenue recognized related to performance obligation satisfied in previous period | ¥ 76,405 | 61,706 |
Remaining performance obligation expected timing of satisfaction, description | Remaining (unsatisfied or partially unsatisfied) performance obligations represent future revenues not yet recorded for firm orders that have not yet been performed. Sony applies practical expedients to exclude certain information about the remaining performance obligations, primarily related to contracts with an expected original duration of less than one year, and sales-based or usage-based royalty revenue on licenses of intellectual property. | |
Remaining performance obligation expected timing of satisfaction, explanation | more than half are expected to be recognized within one year and substantially all within three years. | |
Amortization of contract costs | ¥ 7,271 | ¥ 6,420 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-31 | Minimum | ||
Revenue From Contract With Customers [Line Items] | ||
Remaining performance obligation expected timing of satisfaction | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-31 | Maximum | ||
Revenue From Contract With Customers [Line Items] | ||
Remaining performance obligation expected timing of satisfaction | 3 years |
Revenue - Summary of Remaining
Revenue - Summary of Remaining Performance Obligations that are Unsatisfied (Detail) ¥ in Millions | Mar. 31, 2021JPY (¥) | |
Music | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | ¥ 57,904 | [1] |
Others | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | 47,211 | |
Motion Pictures and Television Productions | Pictures | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | 644,569 | [2] |
Media Networks | Pictures | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation | ¥ 20,346 | |
[1] | Amount included in the Music segment primarily consists of minimum royalty guarantees or fixed fees in contracts related to license revenue for ongoing access to an evolving library of content. These contracts also include the potential for sales-based or usage-based royalties to exceed the minimum guarantees, and these additional royalties are excluded from the amount above, of which substantially all are recognized as revenue within three years. | |
[2] | For Motion Pictures and Television Productions in the Pictures segment, Sony has included all contracts regardless of duration. |
Revenue - Schedule of Contract
Revenue - Schedule of Contract Costs (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Obtaining Contract | ||
Capitalized Contract Cost [Line Items] | ||
Capitalized contract cost | ¥ 8,348 | ¥ 7,464 |
Restructuring Charges - Additio
Restructuring Charges - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Restructuring Charges [Line Items] | |||
Restructuring and related activities, term description | The restructuring activities are generally short term in nature and are generally completed within one year of initiation. | ||
Restructuring costs | ¥ 25,715 | ¥ 24,710 | ¥ 33,005 |
Electronics Products & Solutions | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | 15,671 | 14,727 | 16,011 |
Manufacturing Sites and Sales Offices Overseas | Electronics Products & Solutions | |||
Restructuring Charges [Line Items] | |||
Restructuring costs | ¥ 15,671 | ¥ 14,727 | ¥ 16,011 |
Restructuring Charges (Changes
Restructuring Charges (Changes in Accrued Restructuring Charges) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | ¥ 26,558 | ¥ 32,841 | ¥ 23,674 | |
Restructuring costs | 25,715 | 24,710 | 33,005 | |
Non-cash charges | (2,806) | (100) | (2,731) | |
Cash payments | (27,398) | (30,088) | (21,705) | |
Adjustments | (747) | (805) | 598 | |
Accrued restructuring charges, ending balance | 21,322 | 26,558 | 32,841 | |
Employee termination benefits | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | 24,638 | 25,740 | 19,486 | |
Restructuring costs | 19,669 | 22,957 | 24,449 | |
Cash payments | (24,246) | (23,385) | (19,150) | |
Adjustments | (891) | (674) | 955 | |
Accrued restructuring charges, ending balance | 19,170 | 24,638 | 25,740 | |
Non-cash write-downs and disposals, net | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 2,806 | 100 | 2,731 |
Non-cash charges | [1] | (2,806) | (100) | (2,731) |
Other associated costs | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrued restructuring charges, beginning balance | 1,920 | 7,101 | 4,188 | |
Restructuring costs | 3,240 | 1,653 | 5,825 | |
Cash payments | (3,152) | (6,703) | (2,555) | |
Adjustments | 144 | (131) | (357) | |
Accrued restructuring charges, ending balance | ¥ 2,152 | ¥ 1,920 | ¥ 7,101 | |
[1] | Significant asset impairments excluded from restructuring charges are described in Note 13. |
Restructuring Charges (Total Co
Restructuring Charges (Total Costs Incurred in Connection with Restructuring Programs by Segment) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | ¥ 25,715 | ¥ 24,710 | ¥ 33,005 | |
Depreciation associated with restructured assets | 161 | 256 | 86 | |
Total | 25,876 | 24,966 | 33,091 | |
Game & Network Services | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 4,077 | |||
Depreciation associated with restructured assets | 13 | |||
Total | 4,090 | |||
Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | (1,043) | 3,185 | 3,192 | |
Total | (1,043) | 3,185 | 3,192 | |
Pictures | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 1,573 | 545 | 4,795 | |
Total | 1,573 | 545 | 4,795 | |
Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 15,671 | 14,727 | 16,011 | |
Depreciation associated with restructured assets | 86 | |||
Total | 15,671 | 14,727 | 16,097 | |
Imaging & Sensing Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 1,362 | |||
Total | 1,362 | |||
All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 4,075 | 6,253 | 9,007 | |
Depreciation associated with restructured assets | 148 | 256 | ||
Total | 4,223 | 6,509 | 9,007 | |
Employee termination benefits | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 19,669 | 22,957 | 24,449 | |
Employee termination benefits | Game & Network Services | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 3,524 | |||
Employee termination benefits | Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | (1,139) | 3,179 | 2,991 | |
Employee termination benefits | Pictures | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 1,519 | 545 | 4,795 | |
Employee termination benefits | Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 11,466 | 14,500 | 11,437 | |
Employee termination benefits | Imaging & Sensing Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 1,362 | |||
Employee termination benefits | All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | 2,937 | 4,733 | 5,226 | |
Other associated costs | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 6,046 | 1,753 | 8,556 |
Other associated costs | Game & Network Services | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 553 | ||
Other associated costs | Music | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 96 | 6 | 201 |
Other associated costs | Pictures | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 54 | ||
Other associated costs | Electronics Products & Solutions | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | 4,205 | 227 | 4,574 |
Other associated costs | All Other and Corporate | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring costs | [1] | ¥ 1,138 | ¥ 1,520 | ¥ 3,781 |
[1] | Other associated costs includes non-cash write-downs and disposals, net. |
Supplemental Consolidated Sta_3
Supplemental Consolidated Statements of Income Information (Components of Other Operating (Income) Expense, Net) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Component Of Other Operating Income And Expense [Line Items] | ||||
(Gain) loss on purchase/sale of interests in subsidiaries and affiliates, net | ¥ (16,895) | ¥ (12,801) | ¥ (1,557) | |
(Gain) loss on sale, disposal or impairment of assets, net | [1] | 23,835 | 29,778 | 46,928 |
Other | 528 | (1,495) | ||
Other operating (income) expense, net | ¥ 7,468 | (3,611) | (71,568) | |
AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement of AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd. shares | [2] | (1,827) | ||
EMI Music Publishing | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement of EMI shares | [2] | ¥ (116,939) | ||
SRE shares [Member] | ||||
Component Of Other Operating Income And Expense [Line Items] | ||||
Gain on remeasurement and sale of SRE shares | [3] | ¥ (17,266) | ||
[1] | Refer to Notes 9, 13 and 19. | |||
[2] | Refer to Notes 5 and 24. | |||
[3] | Refer to Note 5. |
Supplemental Consolidated Sta_4
Supplemental Consolidated Statements of Income Information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Components of Other Income (Expense) [Line Items] | |||
Research and development costs | ¥ 525,175 | ¥ 499,290 | ¥ 481,202 |
Advertising costs included in selling general and administrative expenses | 260,068 | 359,458 | 385,500 |
Selling, general and administrative expenses | 1,469,955 | 1,502,625 | 1,576,825 |
Shipping and Handling [Member] | |||
Components of Other Income (Expense) [Line Items] | |||
Selling, general and administrative expenses | ¥ 82,708 | ¥ 46,196 | ¥ 51,757 |
Income Taxes (Components of Dom
Income Taxes (Components of Domestic and Foreign Income and Provision for Current and Deferred Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income before income taxes: | |||
Sony Group Corporation and all subsidiaries in Japan | ¥ 488,738 | ¥ 466,253 | ¥ 310,020 |
Foreign subsidiaries | 703,632 | 333,197 | 701,628 |
Income before income taxes | 1,192,370 | 799,450 | 1,011,648 |
Income taxes — Current: | |||
Sony Group Corporation and all subsidiaries in Japan | 81,706 | 105,755 | 82,081 |
Foreign subsidiaries | 72,716 | 66,636 | 84,667 |
Current | 154,422 | 172,391 | 166,748 |
Income taxes — Deferred: | |||
Sony Group Corporation and all subsidiaries in Japan | (172,095) | 9,421 | 17,907 |
Foreign subsidiaries | 18,668 | (4,622) | (139,557) |
Deferred | (153,427) | 4,799 | (121,650) |
Total income tax expense | ¥ 995 | ¥ 177,190 | ¥ 45,098 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Statutory Tax Rate and Effective Tax Rate) (Detail) | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Reconciliation of Effective Income Tax Rate [Line Items] | |||
Statutory tax rate | 31.50% | 31.50% | 31.50% |
Non-deductible expenses | 0.10% | 0.30% | 0.70% |
Income tax credits | (1.20%) | (1.70%) | (1.60%) |
Change in statutory tax rate and law | (0.10%) | (0.40%) | (0.30%) |
Change in valuation allowances (other than the reversal of valuation allowance in U.S. and Japan national tax below) | (5.00%) | (8.10%) | 2.30% |
The reversal of valuation allowances in the U.S. | (5.50%) | (15.30%) | |
The reversal of valuation allowances relating to the national tax of Sony Group Corporation and its national tax filing group in Japan | (18.00%) | ||
Change in deferred tax liabilities on undistributed earnings of foreign subsidiaries and corporate joint ventures | 0.70% | 0.20% | (0.10%) |
Lower tax rate applied to life and non-life insurance business in Japan | (0.40%) | (0.60%) | (0.50%) |
Foreign income tax differential | (5.00%) | (2.40%) | (6.40%) |
Adjustments to tax reserves | (0.30%) | 0.90% | (0.30%) |
The remeasurement gain for the equity interest in EMI | (2.40%) | ||
Japan controlled foreign company taxation | 2.50% | 5.30% | 0.00% |
Other | 0.80% | (2.80%) | (3.10%) |
Effective income tax rate | 0.10% | 22.20% | 4.50% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 12 Months Ended | 20 Months Ended | 27 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2017 | Mar. 31, 2020 | |
Income Taxes [Line Items] | |||||||
Statutory tax rate | 31.50% | 31.50% | 31.50% | ||||
Minimum base erosion anti abuse tax | 10.00% | (6.25%) | |||||
Beat threshold percentage | 3.00% | 3.00% | 3.00% | ||||
Net increase (decrease) in total valuation allowance | ¥ 214,900 | ¥ 154,201 | ¥ 331,861 | ¥ 114,871 | ¥ 176,721 | ||
Valuation allowance | 276,382 | 608,243 | ¥ 608,243 | ||||
Undistributed earnings of foreign subsidiaries and corporate joint ventures not expected to be remitted, for which deferred income taxes have not been provided | 910,802 | ||||||
Deferred tax liabilities not accounted for undistributed earnings | 14,573 | ||||||
Gain on sale of subsidiary stock | 61,544 | ||||||
Operating loss carryforwards for tax purposes | 302,647 | 348,714 | 348,714 | ||||
Operating loss carryforwards for tax purposes with no expiration period | 107,935 | ||||||
Tax credit carryforwards | 63,590 | 94,900 | 94,900 | ||||
Tax credit carryforwards with no expiration period | 17,742 | ||||||
Interest expense recorded | 2,150 | 1,276 | 1,479 | ||||
Penalties recorded | 514 | 117 | 218 | ||||
Liabilities recorded for the payments of interest | 10,183 | 8,033 | 9,309 | 8,033 | |||
Liabilities recorded for the payments of penalties | 4,458 | ¥ 4,971 | ¥ 4,855 | ¥ 4,971 | |||
Maximum unrecognized tax benefits expected reduction within the next 12 months | ¥ 1,522 | ||||||
U.S. [Member] | |||||||
Income Taxes [Line Items] | |||||||
Statutory tax rate | 21.00% | 21.00% | 35.00% | 21.00% | |||
Japan Tax Autority [Member] | National Taxes | JAPAN | |||||||
Income Taxes [Line Items] | |||||||
Valuation allowance | ¥ 13,549 | ||||||
Japan Tax Autority [Member] | Local Taxes | JAPAN | |||||||
Income Taxes [Line Items] | |||||||
Valuation allowance | ¥ 126,631 | ||||||
Earliest Tax Year | |||||||
Income Taxes [Line Items] | |||||||
Total net operating loss carryforwards expiration date | Mar. 31, 2022 | ||||||
Tax credit carryforwards expiration date | Mar. 31, 2022 | ||||||
Earliest Tax Year | Domestic country | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2011 | ||||||
Earliest Tax Year | Foreign country | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2006 | ||||||
Earliest Tax Year | Us Tax Authority [Member] | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2017 | ||||||
Latest Tax Year | |||||||
Income Taxes [Line Items] | |||||||
Total net operating loss carryforwards expiration date | Mar. 31, 2024 | ||||||
Tax credit carryforwards expiration date | Mar. 31, 2030 | ||||||
Latest Tax Year | Domestic country | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2020 | ||||||
Latest Tax Year | Foreign country | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2020 | ||||||
Latest Tax Year | Us Tax Authority [Member] | |||||||
Income Taxes [Line Items] | |||||||
Tax years subject to examinations | 2020 |
Income Taxes (Components of Def
Income Taxes (Components of Deferred Tax Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 |
Deferred tax assets: | ||
Operating loss carryforwards for tax purposes | ¥ 302,647 | ¥ 348,714 |
Accrued pension and severance costs | 59,608 | 77,559 |
Amortization including film costs | 45,506 | 65,349 |
Lease liabilities | 91,186 | 100,720 |
Warranty reserves and accrued expenses | 138,413 | 116,234 |
Future insurance policy benefits | 44,023 | 42,056 |
Inventories | 28,086 | 15,512 |
Depreciation | 45,096 | 39,085 |
Tax credit carryforwards | 63,590 | 94,900 |
Loss on equity securities | 0 | 11,815 |
Allowance for credit losses | 7,958 | 9,090 |
Impairment of investments | 1,821 | 6,029 |
Deferred revenue | 24,502 | 24,420 |
Other | 167,255 | 122,591 |
Gross deferred tax assets | 1,019,691 | 1,074,074 |
Less: Valuation allowance | (276,382) | (608,243) |
Total deferred tax assets | 743,309 | 465,831 |
Deferred tax liabilities: | ||
Insurance acquisition costs | (187,155) | (170,868) |
Future insurance policy benefits | (196,045) | (193,315) |
Right-of-use assets | (85,244) | (96,970) |
Unrealized gains on securities | (51,147) | (92,791) |
Gain on equity securities | (109,218) | 0 |
Intangible assets acquired through stock exchange offerings | (23,949) | (23,949) |
Undistributed earnings of foreign subsidiaries and corporate joint ventures | (41,515) | (25,359) |
Investment in M3 | (41,347) | (38,303) |
Other | (65,605) | (47,319) |
Gross deferred tax liabilities | (902,600) | (804,997) |
Net deferred tax liabilities | (159,291) | (339,166) |
Pictures | ||
Deferred tax liabilities: | ||
Unbilled accounts receivable in the Pictures segment | (7,894) | (26,214) |
EMI Music Publishing | ||
Deferred tax liabilities: | ||
Intangible assets acquired through stock exchange offerings | ¥ (93,481) | ¥ (89,909) |
Income Taxes (Reconciliation _2
Income Taxes (Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of the fiscal year | ¥ 41,268 | ¥ 50,577 | ¥ 95,425 |
Reductions for tax positions of prior years | (761) | (331) | (31,396) |
Additions for tax positions of prior years | 52 | 162 | 3,094 |
Additions based on tax positions related to the current year | 8,267 | 8,074 | 2,594 |
Settlements | (4,467) | (13,240) | (4,235) |
Lapse in statute of limitations | (1,095) | (1,251) | (14,824) |
Foreign currency translation adjustments | 2,476 | (2,723) | (81) |
Balance at end of the fiscal year | 45,740 | 41,268 | 50,577 |
Total net amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate | ¥ 33,126 | ¥ 29,539 | ¥ 35,004 |
Reconciliation of the Differe_3
Reconciliation of the Differences between Basic and Diluted EPS (Reconciliation of the Differences between Basic and Diluted EPS) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |||
Net income attributable to Sony Group Corporation's stockholders for basic and diluted EPS computation | ¥ 1,171,776 | ¥ 582,191 | ¥ 916,271 |
Weighted-average shares outstanding | 1,230,480 | 1,234,408 | 1,266,592 |
Effect of dilutive securities: | |||
Stock acquisition rights | 4,820 | 3,853 | 4,088 |
Zero coupon convertible bonds | 15,392 | 23,994 | 23,966 |
Weighted-average shares for diluted EPS computation | 1,250,692 | 1,262,255 | 1,294,646 |
Basic EPS | ¥ 952.29 | ¥ 471.64 | ¥ 723.41 |
Diluted EPS | ¥ 936.90 | ¥ 461.23 | ¥ 707.74 |
Reconciliation of the Differe_4
Reconciliation of the Differences between Basic and Diluted EPS - Additional Information (Detail) - shares shares in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |||
Potential shares of common stock upon the exercise of stock acquisition rights and convertible bonds excluded from the computation of diluted EPS | 3,212 | 5,731 | |
Antidilutive securities not excluded from computation of earnings per share amount | 0 |
Variable Interest Entities (Sum
Variable Interest Entities (Summary of the Carrying Value of the Variable Interests) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Apr. 01, 2020 | Mar. 31, 2020 | |
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | ¥ 26,354,840 | ¥ 23,032,784 | ¥ 23,039,343 | |
Maximum exposure to loss | 1,122,942 | 924,450 | ||
Equity securities | ||||
Variable Interest Entity [Line Items] | ||||
Maximum exposure to loss | [1] | 688,428 | 587,602 | |
Securitized Products | ||||
Variable Interest Entity [Line Items] | ||||
Maximum exposure to loss | 270,818 | 210,641 | ||
Foreign Corporate Bonds | ||||
Variable Interest Entity [Line Items] | ||||
Maximum exposure to loss | [2] | 80,037 | 82,488 | |
Other investments | ||||
Variable Interest Entity [Line Items] | ||||
Maximum exposure to loss | 83,659 | 43,719 | ||
Marketable securities | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 730,313 | 621,225 | ||
Marketable securities | Equity securities | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | [1] | 681,201 | 579,773 | |
Marketable securities | Foreign Corporate Bonds | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | [2] | 49,011 | 41,452 | |
Marketable securities | Other investments | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 101 | |||
Securities investments and other | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 351,067 | 274,159 | ||
Securities investments and other | Equity securities | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | [1] | 6,698 | 6,229 | |
Securities investments and other | Securitized Products | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 270,818 | 210,641 | ||
Securities investments and other | Foreign Corporate Bonds | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | [2] | 31,026 | 41,036 | |
Securities investments and other | Other investments | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 42,525 | 16,253 | ||
Prepaid expenses and other current assets | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | 21,000 | 21,000 | ||
Prepaid expenses and other current assets | Other investments | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Carrying Amount, Assets | ¥ 21,000 | ¥ 21,000 | ||
[1] | Equity securities include Investment funds. | |||
[2] | Foreign corporate bonds include repackaged bonds. |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) ¥ in Millions, $ in Millions | Jan. 29, 2020JPY (¥) | Dec. 09, 2019JPY (¥) | Dec. 09, 2019USD ($) | Nov. 15, 2019JPY (¥) | Nov. 15, 2019USD ($) | Nov. 14, 2018JPY (¥) | Nov. 14, 2018USD ($) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2021JPY (¥) | Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Mar. 31, 2019USD ($) | Dec. 31, 2019 | Dec. 19, 2019 | Dec. 09, 2019USD ($) | Nov. 15, 2019USD ($) | Nov. 14, 2018USD ($) |
Business Acquisition [Line Items] | ||||||||||||||||||
Goodwill | ¥ 768,552 | ¥ 827,149 | ¥ 783,888 | ¥ 768,552 | ||||||||||||||
Revenue | 8,999,360 | 8,259,885 | 8,665,687 | |||||||||||||||
Operating income | 971,865 | 845,459 | 894,235 | |||||||||||||||
Percentage of equity interest | 50.00% | 44.50% | 56.30% | |||||||||||||||
Other acquisitions | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business acquisition total consideration | 21,674 | 6,853 | 7,743 | |||||||||||||||
Goodwill | 5,773 | 19,954 | 6,778 | 5,773 | ||||||||||||||
Intangible assets acquired | 4,422 | ¥ 6,237 | ¥ 2,301 | 4,422 | ||||||||||||||
EMI Music Publishing | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 257,168 | $ 2,269 | ||||||||||||||||
Step acquisition, percentage of equity interest acquired | 60.00% | 60.00% | ||||||||||||||||
Revenue | 18,420 | $ 167 | 28,871 | $ 260 | ||||||||||||||
Operating income | ¥ 4,522 | $ 41 | 6,432 | 58 | ||||||||||||||
Step acquisition, percentage of equity ownership immediately before additional acquisition | 40.00% | 40.00% | ||||||||||||||||
Equity interest owned prior to acquisition at fair value | 141,141 | 1,245 | ||||||||||||||||
Recognized gain on remeasured equity interest | ¥ 116,939 | $ 1,032 | ||||||||||||||||
Interest bearing debt amount | ¥ 148,621 | $ 1,311 | ||||||||||||||||
Debt repayment | ¥ 108,942 | $ 961 | ||||||||||||||||
Weighted average amortization period | 43 years | 43 years | ||||||||||||||||
Insomniac Games, Inc | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business acquisition total consideration | ¥ 24,895 | $ 229 | ||||||||||||||||
Goodwill | 17,945 | $ 164 | ||||||||||||||||
Intangible assets acquired | ¥ 6,794 | $ 62 | ||||||||||||||||
Silvergate Media Group | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 21,017 | $ 192 | ||||||||||||||||
Goodwill | 11,431 | $ 106 | ||||||||||||||||
Intangible assets acquired | ¥ 3,387 | $ 32 | ||||||||||||||||
Silvergate Topco Limited | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Step acquisition, percentage of equity interest acquired | 100.00% | 100.00% | ||||||||||||||||
Silvergate BP Bidco Limited | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Step acquisition, percentage of equity interest acquired | 31.00% | 31.00% | ||||||||||||||||
Acquisition of equity interests in joint ventures in the life insurance business | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Cash consideration for acquisition | ¥ 18,750 | |||||||||||||||||
Step acquisition, percentage of equity interest acquired | 50.00% | |||||||||||||||||
Equity interest owned prior to acquisition at fair value | ¥ 13,932 | |||||||||||||||||
Recognized gain on remeasured equity interest | ¥ 1,827 | |||||||||||||||||
Percentage of equity interest | 100.00% |
Acquisitions - Summary of Purch
Acquisitions - Summary of Purchase Price Allocation (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Business Combination, Transactions [Line Items] | |||
Goodwill | ¥ 827,149 | ¥ 783,888 | ¥ 768,552 |
Measurement Period Adjustments [Member] | |||
Business Combination, Transactions [Line Items] | |||
Prepaid expenses and other current assets | (98) | ||
Goodwill | (1,206) | ||
Total assets | (1,304) | ||
Accrued income and other taxes | (69) | ||
Deferred income taxes | (1,235) | ||
Total liabilities | (1,304) | ||
Previously Reported [Member] | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 12,971 | ||
Notes and accounts receivable, trade and contract assets | 32,287 | ||
Prepaid expenses and other current assets | 10,220 | ||
Securities investments and other | 1,476 | ||
Intangibles, net | 420,534 | ||
Goodwill | 237,271 | ||
Other | 10,023 | ||
Total assets | 724,782 | ||
Notes and accounts payable, trade | 1,731 | ||
Accounts payable, other and accrued expenses | 70,675 | ||
Accrued income and other taxes | 3,082 | ||
Long-term debt | 148,621 | ||
Accrued pension and severance costs | 1,947 | ||
Deferred income taxes | 94,849 | ||
Other | 5,564 | ||
Total liabilities | 326,469 | ||
Acquired Assets and Liabilities at Fair Value Final [Member] | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 12,971 | ||
Notes and accounts receivable, trade and contract assets | 32,287 | ||
Prepaid expenses and other current assets | 10,122 | ||
Securities investments and other | 1,476 | ||
Intangibles, net | 420,534 | ||
Goodwill | 236,065 | ||
Other | 10,023 | ||
Total assets | 723,478 | ||
Notes and accounts payable, trade | 1,731 | ||
Accounts payable, other and accrued expenses | 70,675 | ||
Accrued income and other taxes | 3,013 | ||
Long-term debt | 148,621 | ||
Accrued pension and severance costs | 1,947 | ||
Deferred income taxes | 93,614 | ||
Other | 5,564 | ||
Total liabilities | ¥ 325,165 | ||
AEGON Sony Life Insurance Co., Ltd. and SA Reinsurance Ltd | |||
Business Combination, Transactions [Line Items] | |||
Cash and cash equivalents | 27,380 | ||
Marketable securities | 530,851 | ||
Prepaid expenses and other current assets | 21,933 | ||
Securities investments and other | 15,329 | ||
Goodwill | 3,609 | ||
Other | 406 | ||
Total assets | 599,508 | ||
Future insurance policy benefits and other | 66,599 | ||
Policyholders' account in the life insurance business | 495,248 | ||
Other | 4,979 | ||
Total liabilities | ¥ 566,826 |
Acquisitions - Unaudited Supple
Acquisitions - Unaudited Supplemental Pro Forma Financial Information (Detail) - EMI Music Publishing ¥ / shares in Units, ¥ in Millions | 12 Months Ended |
Mar. 31, 2019JPY (¥)¥ / shares | |
Net sales | ¥ 8,738,209 |
Operating income | 801,973 |
Net income attributable to Sony Group Corporation's stockholders | ¥ 817,629 |
- Basic EPS | ¥ / shares | ¥ 645.53 |
- Diluted EPS | ¥ / shares | ¥ 631.55 |
Collaborative Arrangements - Ad
Collaborative Arrangements - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Cost of sales | ¥ 5,072,596 | ¥ 4,753,174 | ¥ 5,150,750 |
Net sales | 8,999,360 | 8,259,885 | 8,665,687 |
Pictures | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Net sales | ¥ 757,580 | 1,010,714 | 985,270 |
Pictures | Collaborative Arrangements, Co-production and Distribution Arrangements | |||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |||
Collaborative arrangement, income statement classification description | Sony and the other participants typically share in the profits from the distribution of the product in all media or markets. For motion pictures, if Sony is a net receiver of (1) Sony’s share of the profits from the media or markets distributed by the other participants less (2) the other participants’ share of the profits from the media or markets distributed by Sony then the net amount is recorded as net sales. If Sony is a net payer then the net amount is recorded in cost of sales. For television programming, Sony records its share of the profits from the media or markets distributed by the other participants as sales, and the other participants’ share of the profits from the media or markets distributed by Sony as cost of sales. | ||
Cost of sales | ¥ 19,944 | 33,921 | 42,343 |
Net sales | ¥ 24,853 | ¥ 21,052 | ¥ 22,702 |
Commitments, Contingent Liabi_3
Commitments, Contingent Liabilities and Other - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |
Mar. 31, 2021JPY (¥) | Dec. 31, 2020USD ($) | |
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 811,400 | |
Maximum potential amount of future payments under guarantees | 529 | |
Ellation Holdings Inc [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Percentage of equity interest acquired | 100.00% | |
Contractual obligation | $ | $ 1,175 | |
Financial Services | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Unused portion of lines of credit extended to customers | 37,322 | |
Pictures | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 105,921 | |
Purchase commitments and other outstanding, term | 3 years | |
Music | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 149,021 | |
Purchase commitments and other outstanding, term | 5 years | |
Game & Network Services | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 32,959 | |
Purchase commitments and other outstanding, term | 7 years | |
Advertising and Promotional Rights | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 5,396 | |
Purchase commitments and other outstanding, term | 1 year | |
Fixed Assets | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 135,297 | |
Materials | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Purchase commitments and other outstanding | ¥ 96,589 |
Commitments, Contingent Liabi_4
Commitments, Contingent Liabilities and Other (Schedule of Aggregate Amounts of Year-by-Year Payment of Purchase Commitments) (Detail) ¥ in Millions | Mar. 31, 2021JPY (¥) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2022 | ¥ 519,953 |
2023 | 112,975 |
2024 | 66,939 |
2025 | 53,358 |
2026 | 13,786 |
Later fiscal years | 44,389 |
Total | ¥ 811,400 |
Commitments, Contingent Liabi_5
Commitments, Contingent Liabilities and Other (Changes in Product Warranty Liability) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | |||
Balance at beginning of the fiscal year | ¥ 31,807 | ¥ 33,005 | ¥ 44,717 |
Additional liabilities for warranties | 19,560 | 21,448 | 23,041 |
Settlements (in cash or in kind) | (19,666) | (21,491) | (26,326) |
Changes in estimate for pre-existing warranty reserve | (860) | (562) | (7,370) |
Translation adjustments | 2,010 | (593) | (1,057) |
Balance at end of the fiscal year | ¥ 32,851 | ¥ 31,807 | ¥ 33,005 |
Business Segment Information (C
Business Segment Information (Components of Segment Sales and Operating Revenue) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,999,360 | ¥ 8,259,885 | ¥ 8,665,687 |
Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 2,604,713 | 1,919,760 | 2,224,622 |
Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 927,250 | 838,592 | 795,025 |
Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 757,580 | 1,010,714 | 985,270 |
Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,902,887 | 1,969,880 | 2,303,167 |
Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 937,859 | 985,259 | 770,622 |
Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,661,520 | 1,299,847 | 1,274,708 |
All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 196,517 | 214,999 | 299,806 |
Intersegment | Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 51,565 | 57,791 | 86,250 |
Intersegment | Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 12,617 | 11,317 | 12,464 |
Intersegment | Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,187 | 1,140 | 1,603 |
Intersegment | Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 17,843 | 21,388 | 17,461 |
Intersegment | Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 74,638 | 85,317 | 108,708 |
Intersegment | Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 7,401 | 7,901 | 7,831 |
Intersegment | All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 32,736 | 36,421 | 45,931 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 2,656,278 | 1,977,551 | 2,310,872 |
Operating Segments | Music | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 939,867 | 849,909 | 807,489 |
Operating Segments | Pictures | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 758,767 | 1,011,854 | 986,873 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,920,730 | 1,991,268 | 2,320,628 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,012,497 | 1,070,576 | 879,330 |
Operating Segments | Financial Services | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 1,668,921 | 1,307,748 | 1,282,539 |
Operating Segments | All Other | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | 229,253 | 251,420 | 345,737 |
Corporate and Eliminations | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Sales and operating revenue, Total | ¥ (186,953) | ¥ (200,441) | ¥ (267,781) |
Business Segment Information _2
Business Segment Information (Components of Segment Profit or Loss) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | ¥ 971,865 | ¥ 845,459 | ¥ 894,235 |
Other income | 264,235 | 21,949 | 144,735 |
Other expenses | (43,730) | (67,958) | (27,322) |
Consolidated income before income taxe | 1,192,370 | 799,450 | 1,011,648 |
Operating Segments | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 1,071,732 | 917,647 | 968,910 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 342,192 | 238,400 | 311,092 |
Operating Segments | Music | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 188,056 | 142,345 | 232,487 |
Operating Segments | Pictures | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 80,478 | 68,157 | 54,599 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 139,180 | 87,276 | 76,508 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 145,876 | 235,584 | 143,874 |
Operating Segments | Financial Services | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 164,582 | 129,597 | 161,477 |
Operating Segments | All Other | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | 11,368 | 16,288 | (11,127) |
Corporate and Eliminations | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Operating income (loss) | ¥ (99,867) | ¥ (72,188) | ¥ (74,675) |
Business Segment Information -
Business Segment Information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Operating income (loss) | ¥ 971,865 | ¥ 845,459 | ¥ 894,235 |
Electronics Products & Solutions | Mobile Communications | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | ¥ 27,671 | ¥ (21,057) | ¥ (97,136) |
Business Segment Information _3
Business Segment Information (Components of Other Significant Items) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | ¥ 11,487 | ¥ 9,637 | ¥ (2,999) |
Depreciation and amortization | 390,693 | 416,642 | 374,026 |
Corporate | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Depreciation and amortization | 23,217 | 27,617 | 31,049 |
Operating Segments | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Depreciation and amortization | 367,476 | 389,025 | 342,977 |
Operating Segments | Game & Network Services | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 0 | ||
Depreciation and amortization | 38,707 | 29,135 | 29,023 |
Operating Segments | Music | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 570 | 4,239 | (6,915) |
Depreciation and amortization | 30,666 | 29,137 | 21,259 |
Operating Segments | Pictures | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 123 | (629) | 106 |
Depreciation and amortization | 19,330 | 21,665 | 24,081 |
Operating Segments | Electronics Products & Solutions | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | (36) | 136 | (38) |
Depreciation and amortization | 62,145 | 63,291 | 61,749 |
Operating Segments | Imaging & Sensing Solutions | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | (123) | 0 | |
Depreciation and amortization | 152,380 | 134,035 | 110,746 |
Operating Segments | Financial Services | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 0 | (104) | (682) |
Depreciation and amortization | 59,885 | 106,667 | 91,179 |
Operating Segments | All Other | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Equity in net income (loss) of affiliated companies | 10,953 | 5,995 | 4,530 |
Depreciation and amortization | ¥ 4,363 | ¥ 5,095 | ¥ 4,940 |
Business Segment Information (S
Business Segment Information (Sales and Operating Revenue to External Customers by Product Category) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,999,360 | ¥ 8,259,885 | ¥ 8,665,687 |
Game & Network Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 2,604,713 | 1,919,760 | 2,224,622 |
Game & Network Services | Digital Software and Add-on Content [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,454,654 | 1,010,296 | 1,102,231 |
Game & Network Services | Network Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 382,950 | 337,265 | 326,524 |
Game & Network Services | Hardware and Others [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 767,109 | 572,199 | 795,867 |
Music | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 927,250 | 838,592 | 795,025 |
Music | Recorded Music — Streaming [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 337,100 | 276,039 | 227,513 |
Music | Recorded Music — Others [Member] | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 179,167 | 191,114 | 199,413 |
Music | Music Publishing | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 156,862 | 157,478 | 106,666 |
Music | Visual Media and Platform | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 254,121 | 213,961 | 261,433 |
Pictures | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 757,580 | 1,010,714 | 985,270 |
Pictures | Motion Pictures | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 271,081 | 475,061 | 436,017 |
Pictures | Television Productions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 267,123 | 301,224 | 288,816 |
Pictures | Media Networks | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 219,376 | 234,429 | 260,437 |
Electronics Products & Solutions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,902,887 | 1,969,880 | 2,303,167 |
Electronics Products & Solutions | Televisions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 709,007 | 646,513 | 788,423 |
Electronics Products & Solutions | Audio and Video | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 313,975 | 346,060 | 362,580 |
Electronics Products & Solutions | Other Products and Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 182,631 | 231,021 | 243,328 |
Electronics Products & Solutions | Still and Video Cameras | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 338,694 | 384,142 | 421,506 |
Electronics Products & Solutions | Mobile Communications | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 358,580 | 362,144 | 487,330 |
Imaging & Sensing Solutions | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 937,859 | 985,259 | 770,622 |
Financial Services | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,661,520 | 1,299,847 | 1,274,708 |
All Other | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 196,517 | 214,999 | 299,806 |
Corporate | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 11,034 | ¥ 20,834 | ¥ 12,467 |
Business Segment Information _4
Business Segment Information (Sales and Operating Revenue Attributed to Countries Based on Location of Customers and Long-Lived Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | ¥ 8,999,360 | ¥ 8,259,885 | ¥ 8,665,687 |
Property, plant and equipment, net and right-of-use assets | 1,362,528 | 1,301,254 | |
Japan | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 2,962,465 | 2,472,479 | 2,591,784 |
Property, plant and equipment, net and right-of-use assets | 999,280 | 946,922 | |
United States | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 2,153,466 | 1,864,390 | 1,982,135 |
Property, plant and equipment, net and right-of-use assets | 211,109 | 214,226 | |
Europe | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 1,816,244 | 1,697,791 | 1,862,166 |
Property, plant and equipment, net and right-of-use assets | 74,313 | 67,799 | |
China | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 762,766 | 845,235 | 770,416 |
Property, plant and equipment, net and right-of-use assets | 16,976 | 17,996 | |
Asia Pacific | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 861,623 | 892,026 | 912,193 |
Property, plant and equipment, net and right-of-use assets | 48,515 | 46,932 | |
Other Areas | |||
Revenue from External Customer [Line Items] | |||
Sales and operating revenue, Total | 442,796 | 487,964 | ¥ 546,993 |
Property, plant and equipment, net and right-of-use assets | ¥ 12,335 | ¥ 7,379 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent event ¥ in Millions, shares in Millions, $ in Millions | May 18, 2021JPY (¥) | May 18, 2021USD ($) | Apr. 28, 2021JPY (¥)shares |
Subsequent Event [Line Items] | |||
Number of shares for repurchase | shares | 25 | ||
Total purchase price for repurchase | ¥ | ¥ 200,000 | ||
Sony Music Entertainment [Member] | |||
Subsequent Event [Line Items] | |||
Percentage of equity interest acquired | 100.00% | 100.00% | |
Business acquisition total consideration | ¥ 49,794 | $ 456 | |
Minimum | |||
Subsequent Event [Line Items] | |||
Period of repurchase | Apr. 30, 2021 | ||
Maximum | |||
Subsequent Event [Line Items] | |||
Period of repurchase | Apr. 28, 2022 |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Allowance for doubtful accounts | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | ¥ 25,873 | ¥ 25,440 | ¥ 48,663 |
Beginning adjustment | 6,621 | (25,114) | |
Additions | 12,133 | 9,006 | 7,112 |
Deductions | (8,115) | (6,908) | (5,532) |
Other | 1,313 | (1,665) | 311 |
Balance at end of period | 37,825 | 25,873 | 25,440 |
Valuation allowance - Deferred tax assets | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | 608,243 | 723,114 | 899,835 |
Additions | 41,816 | 53,245 | 116,938 |
Deductions | (379,661) | (161,547) | (309,226) |
Other | 5,984 | (6,569) | 15,567 |
Balance at end of period | ¥ 276,382 | ¥ 608,243 | ¥ 723,114 |