Sony Projects Record Full-Year Profits

Tokyo, Feb. 5 (Jiji Press)--Sony Group Corp. said on Thursday that it expects to post record sales and profits for the fiscal year ending next month, thanks to strong performance in its music, game and semiconductor businesses.

The Japanese company raised its consolidated net profit forecast for the year from 1.05 trillion yen to 1.13 trillion yen.

The company also hiked its sales forecast from 12 trillion yen to 12.3 trillion yen and its operating profit forecast from 1.43 trillion yen to 1.54 trillion yen.

A weaker yen also benefits Sony.

In the music sector, the company recorded a revaluation gain of about 45 billion yen due to the additional acquisition of shares of a U.S. company that owns the copyrights for the popular comic strip "Peanuts," known for its beloved character Snoopy, to make the U.S. firm a consolidated subsidiary.

[Copyright The Jiji Press, Ltd.]