Sony sees profits flat this year
FILE PHOTO: The Sony logo is displayed outside the company's headquarters in Tokyo, Japan February 16, 2023. REUTERS/Issei Kato/File Photo
TOKYO (Reuters) -Sony said on Wednesday it expects operating profit to rise 0.3% to 1.28 trillion yen ($8.70 billion) in the financial year ending in March.
The Japanese conglomerate has transformed from a maker of household electronics such as the Walkman to an entertainment behemoth spanning games, movies, music and chips.
President Hiroki Totoki has strengthened his grip over the conglomerate, taking the CEO role last month.
Sony is preparing for a partial spin-off of its financial unit as it focuses on entertainment.
Including the financial business, operating profit rose 16% to 1.4 trillion yen, beating analyst estimates.
The conglomerate is grappling with the impact of U.S. President Donald Trump's trade war.
Last month Sony raised PlayStation 5 prices in Europe and Britain last month, citing higher inflation and exchange rate fluctuations.
($1 = 147.1900 yen)
(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)
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