Sony lowers FY 2022 profit forecast on financial business losses

Economy

Sony Group Corp. on Friday lowered its net profit forecast for the year through March to 800 billion yen ($6 billion) on weak results in its financial business. The latest outlook compares with a net profit of 830 billion yen projected in May and represents a 9.3 percent fall from the previous year. For the current business year, the Japanese electronics and entertainment giant now expects operating profit to decline 7.7 percent to 1.11 trillion yen on estimated sales of 11.5 trillion yen, up 15.9 percent. For the April-June period, Sony reported a net profit of 218.20 billion yen, up 3.0 perc...

Kyodo News

Kyodo News