Business / Corporate

Sony posts record net profit for second straight year on solid game and music sales

Kyodo

Sony Corp. said Friday it posted a record net profit in the business year ended in March for the second consecutive year, lifted by strong sales of games and music.

The electronics and entertainment giant reported a group net profit of ¥916.27 billion ($8.2 billion), up 86.7 percent from ¥490.79 billion.

It also logged a record operating profit of ¥894.24 billion, up 21.7 percent from a year ago, on sales of ¥8.67 trillion, up 1.4 percent.

For the fiscal year through March 2020, the company expects group net profit to fall 45.4 percent to ¥500 billion, though, with group operating profit of ¥810 billion, down 9.4 percent. Group sales are forecast to rise 1.5 percent to ¥8.8 trillion.

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