Sony’s So-net to Remove DeNA from Consolidated Accounts

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Sony Corp. group Internet service company So-net Entertainment Corp. will remove DeNA Co., which operates major cellular phone Internet sites, from its list of equity-method affiliates as of July 1. The move coincides with the scheduled departure at month’s end of a director So-net sent to DeNA, and the subsequent loss of its influence in the affiliate’s operations. So-net will remain the top shareholder, with its stake unchanged at 16.9 percent.

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DeNA added slightly more than 1.3 billion yen (US$13.5 million) to So-net’s consolidated profit in the year ended March 31. For the current year, So-net’s projection as of May 12 shows a 17 percent increase in group pretax profit to 7.8 billion yen (US$82 million). This figure is believed to have already excluded any profit contribution from DeNA.

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