v3.25.2
Derivative instruments and hedging activities (Tables)
 12 Months Ended
Mar. 31, 2025
Derivative Instruments And Hedging Activities [Abstract]  
Summary of Outstanding Derivative Instruments
The estimated fair values of Sony’s outstanding derivative instruments are summarized as follows:

 
  
Yen in millions
 
 
  
March 31, 2024
 
  
March 31, 2025
 
 
  
Asset

derivatives
 
  
Liability

derivatives
 
  
Asset

derivatives
 
  
Liability

derivatives
 
Interest rate contracts
            
Interest rate swap agreements
      49,347        3,876        65,075        12,674  
Interest rate swaptions agreements
      272        2,574        358        3,161  
  
 
 
     
 
 
     
 
 
     
 
 
  
Foreign exchange contracts
            
Foreign exchange forward contracts
      6,951        11,088        4,173        10,542  
Swap agreements
      7,442        4,066        5,743        3,117  
Currency option contracts purchased
      74        791        782        671  
Currency option contracts written
      -        4        -        3  
Other currency contracts
      5,958        1,544        4,557        1,445  
  
 
 
     
 
 
     
 
 
     
 
 
  
Equity contracts
            
Equity future contracts
      -        3,428        910        514  
Equity swap agreements
      -        1,916        911        -  
Option contracts
      2,379        -        2,346        118,606  
Bond contracts
                              
 
 
 
Bond forward contracts written
      -        -       
1,286
        3,793  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivatives
      72,423        29,287        86,141        154,526  
  
 
 
     
 
 
     
 
 
     
 
 
  
Summary of Estimated Fair Values and Maturity Analysis for Notional Amounts of Sony's Outstanding Derivative Instruments
The estimated fair values and maturity analysis for notional amounts of Sony’s outstanding derivative instruments which are designated as hedging instruments are summarized as follows:
 
   
Yen in millions
  
   
March 31, 2024
  
   
Notional amounts
    
Fair Value
  
   
Within 1
Year
    
Over 1
Year
    
Total
    
Asset
derivatives
    
Liability
derivatives
    
Presentation in the
consolidated statements of
financial position
  
Cash flow hedging relationships
            
Foreign exchange forward contracts
     92,973       -       92,973       -       1,580       Current liabilities: Other
financial liabilities		  
 
Average rate (JPY/USD)
     145.7       -          
Currency option bought contracts
     17,224       -       17,224       70       -       Current assets: Other
financial assets		  
 
Average rate (JPY/USD)
     140.0       -          
Currency option sold
contracts
     17,554       -       17,554       -       791       Current liabilities: Other
financial liabilities		  
 
Average rate (JPY/USD)
     142.7       -          
Interest rate swap agreements
     -       181,704       181,704       33,098       -      
Non-current
assets:
Other financial assets		  
 
Average rate
     -       1.5 %         
 
 
 
Yen in millions
 
 
 
March 31, 2025
 
 
 
Notional amounts
 
 
Fair Value
 
 
 
Within 1
Year
 
 
Over 1
Year
 
 
Total
 
 
Asset
derivatives
 
 
Liability
derivatives
 
 
Presentation in the
consolidated statements of
financial position
 
Cash flow hedging relationships
 
 
 
 
 
 
Foreign exchange forward contracts
 
 
14,292
 
 
 
-
 
 
 
14,292
 
 
 
178
 
 
 
-
 
 
 
Current assets: Other
financial assets
 
 
Average rate (JPY/USD)
 
 
150.4
 
 
 
-
 
 
 
 
 
Currency option bought
contracts
 
 
43,144
 
 
 
-
 
 
 
43,144
 
 
 
777
 
 
 
-
 
 
 
Current assets: Other
financial assets
 
 
Average rate (JPY/USD)
 
 
145.8
 
 
 
-
 
 
 
 
 
Currency option sold
contracts
 
 
44,365
 
 
 
-
 
 
 
44,365
 
 
 
-
 
 
 
671
 
 
 
Current liabilities:
 
Other
financial
 
liabilities
 
 
Average rate (JPY/USD)
 
 
149.9
 
 
 
-
 
 
 
 
 
Interest rate swap agreements
 
 
-
 
 
 
179,232
 
 
 
179,232
 
 
 
25,139
 
 
 
-
 
 
 
Non-current
assets:
Other financial assets
 
 
Average rate
 
 
-
 
 
 
1.5
% 
 
 
 
 
 
F-84
 
 
  
Yen in millions
 
 
  
March 31, 2025
 
 
  
Notional amounts
 
  
Fair Value
 
 
  
Within 1
Year
 
  
Over 1

Year
 
 
Total
 
  
Asset
derivatives
 
  
Liability
derivatives
 
  
Presentation in the
consolidated statements of
financial position
 
Fair value hedging relationships
  
  
 
  
  
  
Bond futures contracts written
  
 
124,401
 
  
 
-
 
 
 
124,401
 
  
 
-
 
  
 
2,509
 
  
 
 Current liabilities:
Other financial liabilities
 
 
Average unit price
  
 
119.8
 
  
 
-
 
 
  
  
  
Interest rate swap agreements
  
 
-
 
  
 
411,204
 
 
 
411,204
 
  
 
15,029
 
  
 
1,567
 
  
 
Non-current assets:
Other
financial assets / Non-current

liabilities: Other financial
liabilities
 
 
 
Average rate
  
 
-
 
  
 
3.0
% 
 
  
  
  
Summary Of Changes in Fair Value Of Hedging Instruments Related to Cash Flow Hedges Recorded In Accumulated Other Comprehensive Income Changes in the fair value of hedging instruments related to cash flow hedges recorded in accumulated other comprehensive income for the fiscal years ended March 31, 2024 and 2025 are summarized as follows:

 
  
Yen in millions
 
  
Foreign exchange
contracts
 
 
Interest rate
contracts
 
 
Total
 
Balance as of April 1, 2023
      (36 )      18,449       18,413  
  
 
 
    
 
 
    
 
 
  
Changes in
fair value of hedging
instruments recognized in other comprehensive income
      (28,288 )      13,256       (15,032 ) 
Reclassification adjustments to profit (loss) for the year
*1*2
      25,862       (8,880 )      16,982  
Deferred tax
      742       (1,340 )      (598 ) 
  
 
 
    
 
 
    
 
 
  
Balance as of March 31, 2024
      (1,720 )      21,485       19,765  
  
 
 
    
 
 
    
 
 
  
Changes in fair value of hedging instruments recognized in other comprehensive income
   
 
(6,238
)
  
 
854
 
  
 
(5,384
)
Reclassification adjustments to profit (loss) for the year
*1*2
   
 
8,824
 
  
 
(8,391
)
  
 
433
 
Deferred tax
   
 
(791
)
  
 
1,447
 
  
 
656
 
  
 
 
    
 
 
    
 
 
  
Balance as of March 31, 2025
   
 
75
 
  
 
15,395
 
  
 
15,470
 
  
 
 
    
 
 
    
 
 
  
 
*1
In the consolidated statements of income, the amount reclassified to profit (loss) is included in sales for hedges of foreign exchange contracts and in financial expenses for hedges of interest rate contracts.
*2
For the fiscal years ended March 31, 2024 and 2025, hedge ineffectiveness recognized in profit or loss was not material.
Summary of Fair Value Hedges
The carrying amounts of hedged items classified as fair value hedges and the accumulative fair value hedge adjustments during the fiscal year ended March 31, 2025 are as follows:
 
 
  
Yen in millions
 
  
March 31, 2025
 
  
Carrying amount of hedged
items
 
  
Accumulative fair value hedge
adjustments
 
  
Presentation in the
consolidated statements of
financial position
 
  
Asset
 
  
Liability
 
  
Asset
 
 
Liability
 
Fixed rate bonds
  
 
485,960
 
  
 
-
 
  
 
(3,330
) 
 
 
-
 
  
Investments and advances
in the Financial Services
segment (Non-current)