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  HOME | Business & Economy (Click here for more)

Sony Posts Net Income of $1.87 Billion during April-September

TOKYO – Sony posted a record net income of 211.7 billion yen ($1.87 billion) in the first six months of Japan’s 2017 fiscal year (April-September), an eight-fold jump over the same period last year, thanks to its semiconductor and video games divisions.

The Japanese multinational’s operating income was 361.839 billion yen during the same period, a 255 percent year-on-year increase over the same period in 2016, the company said in a statement Tuesday.

The company’s operating revenue rose 18.7 percent year-on-year to 3.92 trillion yen while sales and operating revenue in the company’s game and network services jumped 35.4 percent.

The Tokyo-based company attributed the jump in sales mainly to an increase in PlayStation®4 (“PS4”) software sales including the sales through the network, the impact of foreign exchange rates, and an increase in PS4 hardware sales.

In the semiconductor segment, the tech giant managed to see profit after offsetting the negative impact of a decrease in production of image sensors on account of the 2016 Kumamoto earthquakes.

Sales of semiconductors in the second quarter of 2017 increased 17.9 percent year-on-year to 228.4 billion yen.

Sales and operating revenue in its music and movie divisions also climbed 37.5 percent and 27 percent respectively.

Sony’s motion pictures sales “increased significantly due to the strong worldwide theatrical performance of Spider-Man: Homecoming” while media networks sales “increased significantly primarily due to higher advertising and subscription revenues from TEN Sports Network,” according to the company.

In view of its solid half-yearly and quarterly performance, Sony raised its forecast for the 2017 fiscal year, in which it expects a net income of 380 billion yen, 49 percent more than its previous estimate in August.

The Japanese multinational also revised upward its forecast for operating income to 630 billion yen and predicted sales and revenues of around 8.5 trillion yen, 2.4 percent more than its earlier estimate.

 

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