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- Sony Pictures achieves 636 per cent year-on-year operating income increase
Cairo: Sony Corporation registered a strong third-quarter operating income of US$4.09 billion (¥465.2 billion) in FY2021, a 32 per cent increase from US$3.09 billion (¥351.9 billion) in FY2020.
Concluding 31 December 2021, the recorded overall sales for Q3 FY2021 achieved US$26.66 billion (¥3.031 trillion) a 13 per cent increase from US$23.69 billion (¥2.694 trillion) in FY2020. Contributing to the overall sales and operating income was the robust growth recorded by Pictures, and Imaging & Sensing Solutions (I&SS) segments.
Sony Pictures business witnessed an increase of US$1.31 billion (¥149.4 billion) or a record 636 per cent jump in consolidated operating income for FY2021 against last year’s US$178.5 million (¥20.3 billion). Its consolidated sales increased to US$4.06 billion (¥461.2 billion) against last year’s US$1.68 billion (¥191.2 billion). The increase in both overall sales and operating income was primarily due to the theatrical revenues from Spider-Man: No Way Home and Venom: Let There Be Carnage.
The Imaging & Sensing Solutions segment saw sales growth of 21.65 per cent or US$2.86 billion (¥324.8 billion) as compared to last year’s US$2.35 billion (¥267 billion). While the overall sales of the Game & Network Services (G&NS) business witness a decrease of US$7.15 billion (¥813.3 billion) from last year’s US$7.76 billion (¥883.2 billion), its operating income increased by 15 per cent or US$817 million (¥92.9 billion) against last year’s US$710 million (¥80.8 billion).
“The Middle East & Africa region remain a key growth market for Sony Corporation. Despite the global pandemic, most categories performed well particularly in the TV segment. The launch of the new cognitive intelligence technology in our BRAVIA TVs contributed to the increasing demand for our premium and large OLED screens including A90J and A80J flagship models. This is also due to more customers spending more time at home using TVs to watch video-on-demand (VOD) contents, gaming and sports.
“The continuous rise in creating contents for social media platforms brought an increase in our digital imaging products such as in our vlogging cameras ZV-1 and ZV-E10 as well as our powerful full-frame mirrorless cameras such as Alpha 7 IV and Alpha 7SIII. These products and the new line-up for financial year 2022 will continue to be in demand and we are optimistic of our increased business growth in the region,” said Takakiyo Fujita, Managing Director, Sony Middle East and Africa.
The Financial Services recorded an increase both on overall sales and operating income, while the Electronics Products & Solutions (EP&S) saw a decrease in both overall sales and operating income against last year. The Music segment achieved an increase in overall sales but registered a decrease in its operating income.
Meanwhile, the consolidated results forecast for FY2021 are expected to be US$87.61 billion (¥9.9 trillion) in sales while operating income is expected to be US$10.61 billion (¥1.20 trillion).
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About Sony Middle East and Africa:
Sony Middle East and Africa FZE is a 100% subsidiary of Sony Corporation and is the regional headquarters for the Middle East and Africa regions. The company is engaged in the business of Sony Consumer Electronics, Mobile Electronics (Car Audio), broadcasting and professional products and Computer Entertainment (PlayStation) products in more than 40 countries in the region.
Apart from stock operations in the Jebel Ali Free Zone Establishment in Dubai, Sony Middle East and Africa leads execution of various logistics, sales, marketing, advertising and customer services activities through its business partners. 274 accredited third party service centers reinforce Sony’s presence in key markets in the region.
© Press Release 2022
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