Sony logs 18% annual net profit jump, forecast cautious

Sony's euphony part has a roster that includes Beyonce. Photo: Jamie McCarthy / GETTY IMAGES NORTH AMERICA/Getty Images via AFP
Source: AFP

Japanese entertainment and electronics elephantine Sony connected Wednesday reported an 18 percent leap successful yearly nett net but issued a cautious forecast for the existent fiscal year.

The steadfast logged a nett net of 1.14 trillion yen ($7.7 billion) for the 2024-25 fiscal year, but said it expects that to autumn 13 percent to 930 cardinal yen successful 2025-26.

It comes arsenic US President Donald Trump's sweeping, on-and-off tariffs endanger the bottommost enactment of companies worldwide.

"We are responding rapidly to the further US tariffs that person already been implemented and are considering responses to aggregate imaginable aboriginal scenarios," the institution said successful a enactment alongside its nett forecasts.

"We presently expect to beryllium capable to negociate the interaction connected the profitability to astir 100 cardinal yen, oregon little than 10 percent of the operating income forecast."

Sony had successful February hiked its yearly forecasts, pursuing robust income of games, music and different products successful the October-December vacation buying season.

Its "video game, euphony and movie businesses are showing dependable performance", Rakuten Securities main expert Yasuo Imanaka said successful a enactment past month.

For the cardinal gaming sector, "the adjacent fiscal twelvemonth to March 2026 is besides expected to spot dependable growth", helium added.

"Regarding the emergence successful US tariffs, (Sony) volition apt beryllium capable to woody with it for the clip being arsenic it has stockpiled inventory successful the United States," Imanaka said.

"But if precocious tariffs continue, the longer word interaction is unclear," helium warned.

Sony successful April said it had hiked the terms of immoderate PlayStation 5 consoles successful prime markets, but not the United States, due to the fact that of "challenging" planetary economical conditions.

But it has not touched the outgo of the higher-priced, higher-spec PS5 Pro console, which deed shelves successful November.

Masahiro Wakasugi of Bloomberg Intelligence besides said up of Wednesday's net that "tariffs are apt to beryllium a headwind adjacent year".

But "the euphony and representation division's net can besides grow powerfully acknowledgment to the precocious popularity of its streaming euphony and movies".

Music streaming is simply a money-spinner for Sony, which has an awesome backmost catalogue and a existent roster that includes artists specified arsenic Beyonce and Lil Nas X.

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Source: AFP