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Sony Group Corp. said it will buy back up to ¥200 billion ($1.8 billion) of its own shares after reporting quarterly profit below expectations.

Operating profit in the March quarter was ¥66.5 billion, versus the ¥74 billion consensus among analysts. The company sold 3.3 million PlayStation 5 consoles in the period, tallying 7.8 million for the fiscal year for a slightly faster pace than with the previous hardware generation.

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