philip lelyveld The world of entertainment technology

Sony will invest $18bn to grow entertainment and sensor businesses

Sony Group plans to spend 2 trillion yen ($18 billion) during the next three years to secure a dominant position as a gaming and anime provider and to expand its sensor business.

Sony expects to make 2 trillion yen or more in strategic investments through March 2024, according to its midterm business plan. That represents an increase of more than 40% compared to the past three years. The investments will be funded by 3.1 trillion yen in consolidated operating cash flow that the group, excluding its financial services segment, expects to generate during the same period. It also plans to increase capital expenditure by 25% to 1.5 trillion yen.

Jim Ryan, president and CEO of gaming unit Sony Interactive Entertainment, said 10 projects are currently in development.

Sony will also spend more to lure subscribers to its gaming services as well as to its anime and music platforms.

In addition, its entertainment subsidiaries will be expected to deepen their cooperation and collaborate more with outside partners.

Meanwhile, some news outlets have reported that the Japanese government wants Taiwan Semiconductor Manufacturing Co. and Sony Group to invest 1 trillion yen to build Japan's first 20-nanometer chip plant.

See the full story here: https://asia.nikkei.com/Business/Media-Entertainment/Sony-will-invest-18bn-to-grow-entertainment-and-sensor-businesses