Clean Break: the company completely halting Russian engagements or exiting Russia
Leave Withdrawal
Sony Group Corporation is a Japanese multinational conglomerate corporation. As a major technology company, it operates as one of the world's largest manufacturers of consumer and professional electronic products, the largest video game console company and the largest video game publisher.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalAll over Russia, the remaining LG, Bosch and Sony specialty stores began to close. In technical support, it is specified that some stores will work until the summer, until they sell out the remaining goods. So far, retail partners of foreign manufacturers have not closed stores to avoid fines from landlords, market participants say. In place of the stores of the companies that left, sales points of suppliers from Turkey and China are already opening.
The company stops supplies of technology, software and movies distribution. Cameras of the Japanese brands Canon, Fujifilm, Sony and batteries of the American Duracell will be included in the list of parallel imports. Revenue of JSC "SONY ELECTRONICS" in Russia significantly (-82%) dropped in 2023 vs 2022. Disney and Sony received £13.5m in payments from Russian joint venture after Ukraine invasion despite suspension of operations in the country. The Moscow-based company responsible for marketing and distributing films in Russia made by the two studios paid out £13.1m in dividends in March 2022, a month after Russia invaded Ukraine. An analysis of recently filed accounts shows a further £440,000 was paid between July and December 2023. The money was paid by Moscow-based Walt Disney Studios Sony Pictures Releasing (WDSSPR) to Eastern European Holdings (EEH), a joint venture between Disney and Sony’s London-based Columbia Pictures unit. Revenue significantly (by more than -70%) decreased in 2024 vs 2023.