Sony's Profits Surge Despite Stagnant Sales

Japanese technology and entertainment powerhouse Sony announced an 18% increase in profit for the fiscal year ending March, driven largely by strong outcomes in its music and video-game divisions. Sony's earnings surged to 1.14 trillion yen (USD 7.8 billion), compared to 970.6 billion yen reported last year.

While overall annual sales slightly decreased to 12.957 trillion yen from 13.02 trillion yen, the company's film and imaging units performed well. Hits such as 'Venom: The Last Dance' and 'Bad Boys: Ride or Die' contributed significantly to the film division's success, alongside a robust gaming business.

Sony's music division also held steady, propelled by top-selling global projects like SZA's 'SOS Deluxe: LANA'. However, projections for the fiscal year through March 2026 anticipate a nearly 13% drop in profit, with sales expected to decline by 2.9% as the company plans to unveil new growth strategies.

(With inputs from agencies.)