By Kosaku Narioka

Sony Group said Chief Operating Officer Hiroki Totoki, who has led the company's growth in entertainment content, would become chief executive on April 1.

The Japanese entertainment and electronics company said Wednesday that Lin Tao, who currently serves as senior vice president for finance at videogame unit Sony Interactive Entertainment, would become the group's new chief financial officer.

Totoki also currently serves as chief financial officer.

Chairman and Chief Executive Kenichiro Yoshida will continue as chairman, the company said.

Yoshida said Totoki has led the company's growth strategies such as investments in entertainment content and semiconductors over the years. Yoshida said he would support Totoki as he leads the new management.

Earlier this month, Sony Group acquired an additional stake in Japanese publishing house Kadokawa for more than $300 million to strengthen its ability to create entertainment content. Sony Group now holds a 10% stake in Kadokawa, which publishes books and magazines and produces videogames, movies and animation.

Sony has spent billions of dollars in acquisitions in recent years to boost its entertainment content creation. The entertainment businesses, such as games, music and movies, accounted for nearly 60% of overall revenue in its latest fiscal year, up from about 30% a decade earlier.

Earlier Wednesday, Sony Group shares hit a new intraday record high. In December, the stock climbed to an all-time high since the height of the dot-com bubble in 2000, driven by growing hopes for its games segment and other entertainment businesses. The stock has since maintained its upward trend.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

January 28, 2025 22:00 ET (03:00 GMT)

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