Sony raised its FY2024 operating income forecast by 25 bln yen to 1,335 bln yen on Feb 13, 2025

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Feb 13, 2025, Sony Group filed a Form 6-K, the report a foreign private issuer files with the US Securities and Exchange Commission, attaching the presentation material for its earnings announcement for the three months ended Dec 31, 2024. The presentation raised Sony's forecast for fiscal year 2024 (FY2024): consolidated operating income of 1,335 bln yen (the slides' shorthand for billion yen), up 25 bln yen from the November forecast of 1,310 bln yen, and sales, which Sony defines as sales and financial services revenue, of 13,200 bln yen, up 490 bln yen from 12,710 bln yen. Sony listed an increase in operating income at its Game & Network Services segment, known as G&NS, as the contributing factor for the operating income revision, and increases in Financial Services and G&NS segment sales for the sales revision.1^,2^,3^,4^,5^,6^,7^,8^,9

In the quarter, consolidated sales were 4,409.6 bln yen, up 18% from 3,747.5 bln yen a year earlier, and operating income was 469.3 bln yen, up 1% from 463.3 bln yen. Sony credited significant increases in the sales of its Financial Services, G&NS and Music segments, and said that on a constant currency basis sales increased approximately 15%. Sony listed significant increases in operating income at G&NS and Music, and a significant decrease at Financial Services, among the factors.10^,11^,12

Segment sales are counted before intersegment transactions are eliminated, so G&NS sales of 1,682.3 bln yen, against 1,444.4 bln yen a year earlier, include sales to Sony's other segments. The increase was 237.9 bln yen, or 16%, and Sony put the effect of exchange rates on it at +35.9 bln yen. It credited more hardware sold and higher sales of non-first-party game software titles, including add-on content. G&NS operating income was 118.1 bln yen, against 86.1 bln yen, an increase of 31.9 bln yen, or 37%. Sony credited higher sales from network services, higher sales of non-first-party game software titles and smaller hardware losses, and said lower sales of first-party game software titles pulled the other way.9^,13^,14^,15

For FY2024, Sony raised its G&NS forecast from November: sales, which include sales to Sony's other segments, of 4,610 bln yen against 4,490 bln yen, up 120 bln yen, and operating income of 380 bln yen against 355 bln yen, up 25 bln yen. It cited exchange rates and higher network services sales for the sales revision, and higher network services sales for the operating income revision.16^,17^,13

Sony Interactive Entertainment, a Sony Group company, publishes Helldivers 2 and Stellar Blade, and its studios include Naughty Dog, a developer of The Last of Us Part II Remastered.18^,19^,20^,21

Sony's Form 20-F, the annual report a foreign company files, later gave revenue of ¥12.96 trillion and operating income of ¥1.41 trillion for the year ended Mar 31, 2025. The presentation's FY23 actuals, 13,020.8 bln yen of sales and 1,208.8 bln yen of operating income, match the 20-F's ¥13.02 trillion and ¥1.21 trillion for the year ended Mar 31, 2024, so FY2024 is the year ended Mar 31, 2025.22^,23^,6^,24^,25