Sony logs record full-year sales but net profit dips / Photo: © AFP
RIO
-1.0800
The Fort Worth Press - Sony logs record full-year sales but net profit dips
USD
-
AED 3.672498
AFN 66.135424
ALL 82.428003
AMD 381.697608
ANG 1.790403
AOA 917.000333
ARS 1440.719298
AUD 1.503556
AWG 1.8
AZN 1.698617
BAM 1.6671
BBD 2.013298
BDT 122.155689
BGN 1.666095
BHD 0.376959
BIF 2954.536737
BMD 1
BND 1.290974
BOB 6.906898
BRL 5.403152
BSD 0.999616
BTN 90.396959
BWP 13.244683
BYN 2.94679
BYR 19600
BZD 2.010374
CAD 1.37658
CDF 2240.000343
CHF 0.795735
CLF 0.023238
CLP 911.629427
CNY 7.054505
CNH 7.041445
COP 3801.6
CRC 500.023441
CUC 1
CUP 26.5
CVE 93.988535
CZK 20.66805
DJF 178.007927
DKK 6.35678
DOP 63.547132
DZD 129.654932
EGP 47.449851
ERN 15
ETB 156.189388
EUR 0.850931
FJD 2.253797
FKP 0.748248
GBP 0.74691
GEL 2.70203
GGP 0.748248
GHS 11.474844
GIP 0.748248
GMD 73.000007
GNF 8692.206077
GTQ 7.656114
GYD 209.124811
HKD 7.78223
HNL 26.31718
HRK 6.410897
HTG 131.023872
HUF 327.803501
IDR 16673.45
ILS 3.20699
IMP 0.748248
INR 90.72575
IQD 1309.438063
IRR 42122.494452
ISK 126.299846
JEP 0.748248
JMD 160.047735
JOD 0.708952
JPY 154.966501
KES 128.950385
KGS 87.449685
KHR 4002.062831
KMF 419.501996
KPW 899.999687
KRW 1464.35502
KWD 0.30682
KYD 0.833039
KZT 521.320349
LAK 21670.253798
LBP 89512.817781
LKR 308.871226
LRD 176.427969
LSL 16.864406
LTL 2.95274
LVL 0.60489
LYD 5.429826
MAD 9.19607
MDL 16.897807
MGA 4428.248732
MKD 52.4169
MMK 2099.265884
MNT 3545.865278
MOP 8.015428
MRU 40.004433
MUR 45.950131
MVR 15.398937
MWK 1733.36743
MXN 17.978805
MYR 4.0925
MZN 63.910031
NAD 16.864406
NGN 1451.530241
NIO 36.789996
NOK 10.13585
NPR 144.638557
NZD 1.725615
OMR 0.384498
PAB 0.999595
PEN 3.365397
PGK 4.308177
PHP 58.924995
PKR 280.140733
PLN 3.59277
PYG 6714.401398
QAR 3.643004
RON 4.335502
RSD 99.943984
RUB 79.121636
RWF 1454.886417
SAR 3.752081
SBD 8.176752
SCR 14.658273
SDG 601.499594
SEK 9.28439
SGD 1.288906
SHP 0.750259
SLE 24.125013
SLL 20969.503664
SOS 570.259558
SRD 38.547979
STD 20697.981008
STN 20.880385
SVC 8.746351
SYP 11056.681827
SZL 16.85874
THB 31.431503
TJS 9.186183
TMT 3.51
TND 2.922143
TOP 2.40776
TRY 42.701498
TTD 6.783302
TWD 31.318031
TZS 2482.490189
UAH 42.236116
UGX 3552.752147
UYU 39.226383
UZS 12042.534149
VES 267.43975
VND 26320
VUV 121.127634
WST 2.775483
XAF 559.141627
XAG 0.015656
XAU 0.00023
XCD 2.70255
XCG 1.801522
XDR 0.695393
XOF 559.141627
XPF 101.655763
YER 238.499715
ZAR 16.776101
ZMK 9001.197187
ZMW 23.065809
ZWL 321.999592
- Trapped, starving and afraid in besieged Sudan city
- Showdown looms as EU-Mercosur deal nears finish line
- Messi mania peaks in India's pollution-hit capital
- Wales captains Morgan and Lake sign for Gloucester
- Serbian minister indicted over Kushner-linked hotel plan
- Eurovision 2026 will feature 35 countries: organisers
- Cambodia says Thailand bombs province home to Angkor temples
- US-Ukrainian talks resume in Berlin with territorial stakes unresolved
- Small firms join charge to boost Europe's weapon supplies
- Driver behind Liverpool football parade 'horror' warned of long jail term
Sony logs record full-year sales but net profit dips
Sony on Tuesday reported its best-ever sales in the financial year to March thanks to strong results in movies, electronics and music, while net profit dipped 14 percent from the previous year's record high.
A lockdown-fuelled gaming boom has slowed, but the Japanese giant has seen success in other entertainment sectors, with "Spider-Man: No Way Home" overtaking "Avatar" as North America's third-highest-grossing film.
Demand for sensors used in smartphone cameras has continued to soar, and Sony Music also scored a winner with Adele's latest album "30" and strong licence revenue in its popular anime business.
The conglomerate reported full-year sales for 2021-22 of 9.9 trillion yen ($76 billion) and net profit of 882 billion yen.
In 2020-21, Sony logged a record net profit of more than a trillion yen, partly thanks to tax gains and the explosion in popularity of video games during Covid-19 lockdowns.
The 10 percent increase in sales from 8.99 trillion yen in 2020-21 "was mainly due to significant increases in sales in the pictures, electronics products and solutions and music segments", Sony said.
Hideki Yasuda, senior analyst at Toyo Securities, said Sony would likely benefit from the fall of the yen, which has hit 20-year lows against the dollar this year.
He said the conglomerate is now succeeding in a broader range of sectors with favourable business environments, such as music and movies.
"Sony is really turning into a content company now, from its previous status as an electronics manufacturer."
- PlayStation 5 supply woes -
For the current financial year to March 2023, Sony predicts sales will rise 15 percent to 11.4 trillion yen, while net profit is projected to slip six percent to 830 billion yen.
Sony has faced challenges rolling out its PlayStation 5 console, which remains difficult to get hold of 18 months after its November 2021 launch -- in part due to supply chain disruption including the global chip shortage.
The company "could have sold so many more PS5s if they were able to produce more", according to Serkan Toto, an analyst at Kantan Games in Tokyo.
"I don't see any kind of problem for Sony in the gaming world or in the gaming market, except for the supply chain issues: it's impossible to get a PlayStation 5. It's ridiculous," he told AFP.
Even then, Sony has released a stream of popular games from "Ratchet and Clank" to "Gran Turismo 7", Toto said.
H.Carroll--TFWP
