Sony Group's Fourth-Quarter Net Profit Rose 15% on Strength of Image Sensors, Music Businesses

By Kosaku Narioka

Sony Group Corp. said Friday that its fourth-quarter net profit rose 15% from a year earlier as greater earnings from its image sensors and music businesses helped offset weakness in the games and entertainment tech businesses.

The Japanese entertainment and electronics company said that net profit for the quarter ended March 31 rose to 128.16 billion yen ($956.4 million) from Y111.08 billion a year earlier. That beat the estimate of Y71.23 billion from a poll of analysts by Visible Alpha.

Fourth-quarter revenue increased 35% from a year earlier to Y3.064 trillion.

Operating profit for its imaging and sensing business rose to Y31.70 billion from Y10.74 billion a year earlier and that of its music business climbed to Y60.44 billion from Y49.85 billion. Meanwhile, operating profit from its game business fell to Y38.86 billion from Y87.255 billion and its entertainment tech business posted an operating loss.

Sony projected that revenue will decline 0.3% to Y11.500 trillion and net profit drop 10% to Y840.00 billion for the fiscal year that started in April.

The company expects fiscal-year operating profit for its financial services business to fall to Y180.0 billion from Y223.9 billion the previous fiscal year and that of its imaging-andsensing business to decline to Y200.0 billion from Y212.2 billion.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

April 28, 2023 03:06 ET (07:06 GMT)

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