Sony profit fell 86% in the fourth quarter of the fiscal year

US, WASHINGTON (ORDO NEWS) — Net profit of Japanese Sony Corp. fell in the fourth quarter of the fiscal year, which ended March 31, by 86% to 12.6 billion yen from 87.9 billion yen a year earlier. Operating profit fell 57% to 35.45 billion yen from 82.73 billion yen a year earlier.

Revenue fell to 1.749 trillion yen compared to 2.128 trillion yen in the fourth quarter of the previous fiscal year, the company said.

Including the quarterly revenue from the sale of video games and consoles decreased by 64.5% to 433.6 billion yen, from the music business – by 1.4% to 211.4 billion yen. Revenue from the film business grew by 35% to 329.1 billion yen, from the production of image sensors – by 38.8% to 231.2 billion yen.

Operating profit in fiscal year 2019-2020 fell 5% to 845.5 billion yen. Net income fell 36% to 582.2 billion yen, revenue – 5% to 8.26 trillion yen.

The company expects that the coronavirus pandemic will continue to affect financial and operational performance in the first quarter of the current fiscal year, with a peak in impact at the beginning of August. In the II quarter there will be a relaxation of restrictions on movement of people, in the III quarter – the restoration of business.

Sony did not provide a forecast for the fiscal year, which ends March 31, 2021, because it is impossible to predict the end of the pandemic.

The company’s capitalization has fallen from the beginning of the year by 4.5% to 8.57 trillion yen.


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