Sony Records Full-Year Profit


For the fiscal year ended March 31, Sony reported a profit of 916.3 billion yen ($8.2 billion), up from 490.8 billion yen posted a year prior.

Sales rose 1 percent to 8.67 trillion yen ($78 billion).

There was a 30-percent gain in profits at the Pictures division to $489 million. The segment saw a 3-percent decrease in sales, which totaled $8.9 billion. It faced a tough comparison in theatrical from the prior year, which had Jumanji: Welcome to the Jungle and Spider-Man: Homecoming. The lower sales for TV productions was attributed to lower licensing revenues for various U.S. series and catalog programs.

In its outlook for the fiscal year ending March 31, 2020, Sony forecasts the Pictures segment to reach $9.7 billion for sales and $582 million for profit. Overall, Sony predicts operating income to dip 9 percent to 810 billion yen ($7.25 billion).