TOKYO: Sony hiked its profit forecasts for the current year on Friday, banking on improved earnings in the Japanese consumer electronics giant’s video games division and the weak yen.
For the year to next March, the firm expects net income of 1.21 trillion yen (US$7.5 billion), up from its previous projection of 1.16 trillion yen.
The increase was thanks to improved sales and operating income in its gaming division, the maker of the PlayStation games console said in a statement.
Sony said that it benefitted from the favourable impact of foreign currency effects – the yen recently hit a 40-year low against the dollar – and tariff refunds by the United States.
Overall, Sony projected group revenues in the year to March 31, 2027 of 12.5 trillion yen, up from the previous forecast of 12.3 trillion issued in May.
