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Sony Group Corp yesterday upgraded its full-year sales and profit forecast, saying it expected strong performances in the music, movie and electronics sectors.
The optimistic outlook came despite a lackluster second quarter, with net profit down more than half compared with its extraordinary results in the same period last year.
The Japanese conglomerate, which this year acquired top online anime library Crunchyroll for US$1.2 billion, said it expected the purchase to boost sales and profit in its key movie division.
Several factors, including “license revenue in the anime business,” are also projected to lift music sales, as Sony enjoys steady growth in its
Sony upgrades annual profit outlook on strong Q1 performance Today 06:00 am JST Today | 07:58 am JST TOKYO
Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese conglomerate said solid earnings in its music and consumer electronics businesses offset a first-quarter operating profit decline in the gaming sector.
A box-office triumph for the anime epic Demon Slayer , distributed by Sony s animation unit Aniplex, also boosted its better-than-expected quarterly results.
Sony Group now predicts a net profit of 700 billion yen ($6.4 billion) for the fiscal year to March 2022, up from its earlier estimate of 660 billion yen.
Sony upgrades profit outlook on strong Q1 performance
By AFP - Aug 04,2021 - Last updated at Aug 04,2021
Sony on Wednesday upgraded its full-year profit forecast on the back of a strong quarterly performance.(AFP file photo)
TOKYO Sony upgraded its full-year profit forecast on Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese conglomerate said solid earnings in its music and consumer electronics businesses offset a first-quarter operating profit decline in the gaming sector.
A box-office triumph for the anime epic Demon Slayer , distributed by Sony s animation unit Aniplex, also boosted its better-than-expected quarterly results.
Toyotaâs net profit surged by 460 percent in the first quarter
By AFP
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TOKYO - Toyota announced on Wednesday that its net profit had jumped more than 460 percent in the first quarter of 2021, boosted by strong sales fuelled by the recovery from the coronavirus crisis.
The world s top-selling car manufacturer logged a 897.8 billion yen (R117 billion) net profit for the three months to June, a record for the first quarter and up from 158.8 billion yen in the same period last year.
But it left its full-year net profit forecast unchanged at 2.3 trillion yen, citing uncertainties in and after the second quarter .