Reminder: Sony authorized to spend $18 billion on investments

Microsoft's rich coffers are paying for its $68.7 billion Activision-Blizzard buyout, but Sony only has a fraction of that to spend on acquisitions.

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Following Microsoft's huge Activision-Blizzard buyout, now is a good time to remind everyone about Sony's current trajectory. Sony's board of directors and shareholders have authorized the expenditure of only 2 trillion yen, or $18 billion USD, for strategic investments across a three year period. This is part of Sony's Fourth Mid-Range plan that lasts until FY23.

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The spending plan includes buyouts and acquisitions of video game, entertainment, and software companies, as well as share buyback repurchases and capital investments in companies like Epic Games.

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To date, Sony has already spent an estimated $6 billion on share repurchases, leaving approximately $12 billion left for buyouts, as per SEC filings. This is a stark contrast to Microsoft's net cash offer for Activision-Blizzard that equates to nearly $69 billion.

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Sony is still aggressively spending on its games business and plans to spend an extra $184 million on development throughout the period.

Sony's current net cash position is $44 billion as of FY2021.