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TOKYO (AP) — Japanese technology and entertainment company Sony logged an 18% rise in profit for the fiscal year through March on healthy results at its music and video-game operations.
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Tokyo-based Sony Corp. said Wednesday that its annual profit totaled 1.14 trillion yen ($7.8 billion), up from 970.6 billion yen in the previous fiscal year.
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Annual sales were virtually unchanged, inching down to 12.957 trillion yen ($88 billion) from 13.020 trillion yen.
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One area that lagged among Sony’s sprawling businesses was the financial segment, where revenue stalled. But its film division and its imaging and sensor solutions segment did well.
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Among the movies that fared positively at the box office for the fiscal year through March were “Venom: The Last Dance,” featuring the Marvel Comics superhero, and “Bad Boys: Ride or Die,” an action comedy, in which Will Smith and Martin Lawrence come back in their popular cop roles, the fourth installment in the series.
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Sony, which makes the PlayStation console and game software played on that machine, also marked healthy results in the gaming business.
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Its music operations, which also held up, include recordings, streaming services and music for games. The top-selling recorded music projects for the latest fiscal year globally was SZA’s “SOS Deluxe: LANA,” followed by Beyonce, Future & Metro Boomin and Travis Scott.
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For the Japan music business, the top-seller was Kenshi Yonezu’s “Lost Corner” album, followed by offerings from Stray Kids and Six Tones.
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For the January-March quarter, Sony posted a 197.7 billion yen ($1.3 billion) profit, up 5% from 189 billion yen the same quarter in the previous fiscal year. Sales were 2.6 trillion yen ($17.7 billion), down 24% from 3.48 trillion yen.
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Sony is forecasting a nearly 13% drop in profit for the fiscal year through March 2026, to 930 billion yen ($6.3 billion), on 11.7 trillion yen ($80 billion) sales, down 2.9% on-year.
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Sony officials are set to brief reporters on the latest company strategy for growth later in the day. Sony stocks lost 3% in Tokyo morning trading.
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