Sony Logs 1st Operating Profit Fall in 3 Years

Economy

Tokyo, May 13 (Jiji Press)--Sony Corp. <6758> said Wednesday its consolidated operating profit fell for the first time in three years in fiscal 2019, due to its sluggish game business and poor electronics sales amid the novel coronavirus pandemic.

The Japanese electronics and entertainment giant posted an operating profit of 845,459 million yen in the year that ended in March, down 5.5 pct from the preceding year.

Sony's group sales fell 4.7 pct to 8,259,885 million yen, and its net profit sank 36.5 pct to 582,191 million yen. The company posted record-high operating and net profits in fiscal 2018.

The pandemic dented the company's operating profit by 68.2 billion yen in the latest reporting year.

In March, Sony suspended operations at a total of three plants in Britain and Malaysia. With the disruption in the electronics supply chain prolonged, Sony has been forced to suspend work to create new movie and music content.

[Copyright The Jiji Press, Ltd.]

Jiji Press