Sony Raises Full-Year Profit Forecasts

Tokyo, Feb. 2 (Jiji Press)--Sony Group Corp. <6758> said Thursday it has raised its consolidated profit forecasts for the year ending next month, citing solid growth in its video game business.

The Japanese electronics and entertainment company boosted its operating profit forecast from 1.16 trillion yen to 1.18 trillion yen, still down 1.9 pct from the previous year.

The company also raised its net profit projection from 840 billion yen to 870 billion yen, down 1.4 pct from the previous year.

Sony expects the dollar's recent decline against the yen will push down game business costs that are mainly dollar-denominated.

In October-December, Sony sold 7.1 million units of its PlayStation 5 game console, a record high for any quarter. It raised its full-year sales target for the console to 19 million units from 18 million units.

[Copyright The Jiji Press, Ltd.]