News Article

Sony Doubles Profit Forecasts Ahead of Financial Report

Posted by Sammy Barker

Holding out for a Hirai

After years of reporting on Sony’s slumping sales, it looks like the company may finally be on the ascension. Games Industry.biz notes that the Japanese conglomerate has doubled its profit forecast for the fiscal year that ended on 31st March, raising the tally from ¥20 billion ($201m) to ¥40 billion ($403m). That’s a pretty substantial increase.

The improvement is due to the depreciation of the yen, and stronger than expected performance in its financial services division. The company has also upgraded its operating income from ¥130 billion to ¥230 billion, following the sale of its M3 shares, and Tokyo and North American headquarters.

The firm’s full-year financials will be released on 9th May, and may be accompanied by much fist-pumping from new CEO and Ridge Racer fan Kaz Hirai.

[via gamesindustry.biz]

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User Comments (6)

shingi_70

#1

shingi_70 said:

The real test is next year when they won't have major buildings to sale.

Kaz is doing a good job at slowly working the company back up.

charlesnarles

#4

charlesnarles said:

It's all speculative, though, right? I believe them, it's just kinda crazy to forecast 100% growth lol. You show em, Kaz!

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