Sony Group has nudged up its fiscal-year profit outlook, helped by a weaker yen and solid sales in its music publishing business, which made up for lackluster momentum in its games and image sensor businesses.
The entertainment group raised its operating profit outlook to ¥1.16 trillion ($7.8 billion), up from its previous forecast of ¥1.11 trillion. A boost in streaming sales from its music publishing business helped fuel the earnings revision, along with a weak yen that bolstered overseas sales of image sensors used in Apple’s premium iPhones, the company said.
In its core games business, Sony aims to beat its current outlook to sell 18 million units of the PlayStation 5 console in the year ending March, and will target sales of 23 million PS5 units in the following fiscal year, Chief Financial Officer Hiroki Totoki said.