Investment Recovery Through the Partial Sale of M3 Shares
First written in FY2017-Q3. 1 of 6 entries say "Achieved", first in FY2017. Latest entry: FY2023-Q3.
- FY2023-Q3Continued decline in M3,Inc. equity-method investment incomeAnnual report
「Equity in net earnings (losses) of affiliates included in operating income decreased by ¥1.5 billion year on year to income of ¥18.6 billion. This decrease was mainly due to a decline in M3,Inc.'s equity in net earnings of affiliates, despite an increase in equity in net earnings of affiliates in the music segment.」
Equity in net earnings of affiliates decreased by ¥1.5 billion year on year to ¥18.6 billion. Although the music segment improved, the main impact was a decline in M3,Inc.'s equity in net earnings of affiliates. - FY2023-Q1Decrease in M3,Inc. equity-method investment incomeAnnual report
「Equity-method investment income (loss) included in operating income increased by ¥1.0 billion year on year to income of ¥5.3 billion. Although equity-method investment income from M3,Inc. decreased, the increase was mainly due to an improvement in equity-method investment results in the Music segment.」
M3,Inc.'s equity in net earnings of affiliates declined, but overall equity in net earnings of affiliates increased as equity in net earnings of affiliates in the music segment improved. - FY2022-Q2Recognition of gain from change in M3,Inc. ownership interestAnnual report
「¥5.1 billion in equity-method investment income related to the gain from a change in ownership interest recognized by M3,Inc. as a result of a related company of M3,Inc. issuing new shares in connection with its listing (Other segment)」
The company recognized ¥5.1 billion in equity-method investment income related to a gain from a change in ownership interest resulting from a related company of M3,Inc. issuing new shares in connection with its listing. - FY2020-Q1Subscription to M3,Inc.'s third-party allotmentAnnual report
「This was due in part to an increase in payments for purchases of property, plant and equipment during the quarter and Sony's subscription to a third-party allotment by M3,Inc.」
Following the partial sale of M3,Inc. shares, Sony subscribed to the company's third-party allotment during the quarter. - FY2017AchievedAnnual report
「On 30 January 2017, Sony completed the sale to a third party, for cash consideration of ¥51,968 million, of 17,302,700 of its 127,381,600 shares in M3,Inc., an equity-method affiliate.」
Sony completed the partial sale of M3,Inc. shares, reducing its ownership stake from 39.35% to 34.0%. - FY2017-Q3First statedAnnual report
「On 2 February 2017, Sony transferred 17,302,700 common shares of M3,Inc. to a third party, representing part of its 127,381,600 shares in M3,Inc. In connection with the transfer, Sony expects to recognize a gain on disposal of ¥37,167 million in other operating loss (income), net, in the fourth quarter of fiscal 2016. Sony plans to continue accounting for M3,Inc. as an equity-method affiliate after the transfer.」
On 2 February 2017, Sony transferred 17,302,700 shares of M3,Inc. and expects to recognize a gain on disposal of ¥37,167 million in the fourth quarter of fiscal 2016. M3,Inc. is expected to remain an equity-method affiliate after the transfer.