Sony earnings zoom to save on video games, ‘Demon Slayer’
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A man stands near the Sony logo at a chain of electronics stores in Tokyo, Wednesday, April 28, 2021. Sony’s January-March profit jumped eightfold to 107 billion yen ($982 million ) as people remained stuck at home during the coronavirus pandemic. turned to video games and other visual content from the Japanese electronics and entertainment company.
A man stands near promotional photos of Play Station 5 at a chain of electronics stores in Tokyo, Wednesday, April 28, 2021. Sony’s January-March profit jumped eightfold to 107 billion yen (982 million) as people stuck at home during the coronavirus pandemic turned to video games and other visual content from the Japanese electronics and entertainment company.
A man stands next to promotional photos of Play Station 5 at a chain of electronics stores in Tokyo, Wednesday, April 28, 2021. Sony’s January-March profit jumped eightfold to 107 billion yen ( $982 million) as people stuck at home during the coronavirus pandemic turned to video games and other visual content from the Japanese electronics and entertainment company.
By YURI KAGEYAMA
AP Business Writer
TOKYO (AP) — Sony’s January-March profits jumped eightfold to 107 billion yen ($982 million) from a year earlier as people stuck at home during the coronavirus pandemic have turned to video games and other visual content from the Japanese electronics and entertainment company.
Sony Corp. on Wednesday reported record profit of 1.17 trillion yen ($11 billion) for the fiscal year that ended March 31, roughly double the 582 billion yen in the previous fiscal year.
The popularity of the animated film “Demon Slayer” also helped, along with strong sales in mobile game apps and digital content. Demand continues for the PlayStation 5 game console, which went on sale last year. Sony said it sold 7.8 million PlayStation 5 machines worldwide.
Tokyo-based Sony’s quarterly sales rose 27% from 1.7 trillion yen to 2.2 trillion yen ($20 billion). Sony reported a January-March profit of 12.6 billion yen last year.
Sony’s financial services division, including banking and insurance, also contributed to strong profits and sales for the year.
Some of Sony’s best-selling musical artists over the past fiscal year include Harry Styles, AC/DC, Luke Combs and Doja Cat.
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