Sony forecasts 13 pc rise in full-year net profit

TOKYO: Japanese electronics giant Sony on Friday forecast a 13% rise in net profit for the year to next March, boosted by its video games operations.

The projection of a 1.2 trillion yen ($7.7 billion) profit came as the firm revealed that net income fell 3% to 1.0 trillion yen in the 2025-26 fiscal year.

Revenue rose 4% to 12.5 trillion yen and operating income climbed 13% to 1.5 trillion yen, it said in a statement.

Sony projected revenue for the 2026-27 fiscal year of 12.3 trillion yen and said operating income would rise to 1.6 trillion yen.

The company said its game division benefited from foreign exchange movements and increased sales from network services, but saw falling hardware sales.

Sony sold 16 million PlayStation 5 units in the past fiscal year, down from 18.5 million in the previous 12 months.

"Even though costs to streamline risk assets and strengthen the business foundation increased, business performance remained solid," it said in the statement.

For the year to March 2027, the game division is expected to enjoy higher profits despite falling sales.

The firm also reiterated that it did not expect to struggle to secure enough chips to produce PS5 hardware.

By RSS/AFP