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Japan Today
14-05-2025
- Business
- Japan Today
Sony's profits rises on robust performance for music, movies and games
FILE - A logo of Sony is seen at the headquarters of Sony Corp. on May 10, 2022, in Tokyo. (AP Photo/Eugene Hoshiko, File) By YURI KAGEYAMA Japanese technology and entertainment company Sony Corp logged an 18% rise in profit for the fiscal year through March on healthy results at its music and video-game operations. Its chief executive, Hiroki Totoki, outlined the company's strategy for growth Wednesday, stressing that collaboration among Sony's various segments, like animation and music, were crucial to deliver the 'kando,' or emotional engagement, that lies at the core of the company's vision and strength. 'Building on our momentum and results to date and working with a laser-like focus to realize our long-term Creative Entertainment Vision will be at the core of our corporate strategies moving forward,' he told reporters. Sony's movies division has strong offerings in the pipeline, including Spider-Man films and biopics about The Beatles, while animation remains a driver of growth centered around the popular anime streaming service Crunchyroll, Totoki said. Tokyo-based Sony reported a record annual profit of 1.14 trillion yen ($7.8 billion), up from 970.6 billion yen in the previous fiscal year. Annual sales were virtually unchanged, inching down to 12.957 trillion yen ($88 billion) from 13.020 trillion yen. 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. Sony officials said they were studying how to respond to President Donald Trump's tariffs, although that was a challenge because of uncertainties and constant changes. But they said the negative impact from U.S. trade policy will be kept to 10% of Sony's operating profit in the coming fiscal year by adjusting the allocation of shipments, among other measures. Totoki stressed that Sony plans to leverage its content creating technology, like virtual reality and image sensors, to feed into its entertainment products, including working on immersive experiences. Sony also has powerful collaborative relations with various entertainment companies like Kadokawa, which includes publishing as well as films and animation, and Bandai Namco, a video game maker, he added. Sony will emphasize the 'diversity' of its workers, helping bring out people's creative potential, Totoki said. Among the Sony movies that fared well 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, where Will Smith and Martin Lawrence return in their popular cop roles in the fourth installment in the series. Sony, which makes the PlayStation console and game software played on that machine, also posted healthy results in the gaming business. 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. The top seller in its Japan music business was Kenshi Yonezu's 'Lost Corner' album, followed by offerings from Stray Kids and Six Tones. 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. 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. Sony Group Corp stocks, which fell in Tokyo morning trading, rebounded to finish 3.7% higher after its financial results were announced. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Toronto Sun
14-05-2025
- Business
- Toronto Sun
Sony racks up record profit on robust performance for music, movies and games
Published May 14, 2025 • 3 minute read A logo of Sony is seen at the headquarters of Sony Corp. on May 10, 2022, in Tokyo. Photo by Eugene Hoshiko / AP TOKYO — 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. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Its chief executive, Hiroki Totoki, outlined the company's strategy for growth Wednesday, stressing that collaboration among Sony Corp.'s various segments, like animation and music, were crucial to deliver the 'kando,' or emotional engagement, that lies at the core of the company's vision and strength. 'Building on our momentum and results to date and working with a laser-like focus to realize our long-term Creative Entertainment Vision will be at the core of our corporate strategies moving forward,' he told reporters. Sony's movies division has strong offerings in the pipeline, including Spider-Man films and biopics about The Beatles, while animation remains a driver of growth centered around the popular anime streaming service Crunchyroll, Totoki said. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Tokyo-based Sony reported a record annual profit of 1.14 trillion yen ($7.8 billion), up from 970.6 billion yen in the previous fiscal year. Annual sales were virtually unchanged, inching down to 12.957 trillion yen ($88 billion) from 13.020 trillion yen. 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. Sony officials said they were studying how to respond to President Donald Trump's tariffs, although that was a challenge because of uncertainties and constant changes. But they said the negative impact from U.S. trade policy will be kept to 10% of Sony's operating profit in the coming fiscal year by adjusting the allocation of shipments, among other measures. This advertisement has not loaded yet, but your article continues below. Totoki stressed that Sony plans to leverage its content creating technology, like virtual reality and image sensors, to feed into its entertainment products, including working on immersive experiences. Sony also has powerful collaborative relations with various entertainment companies like Kadokawa, which includes publishing as well as films and animation, and Bandai Namco, a video game maker, he added. Sony will emphasize the 'diversity' of its workers, helping bring out people's creative potential, Totoki said. Among the Sony movies that fared well 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, where Will Smith and Martin Lawrence return in their popular cop roles in the fourth installment in the series. This advertisement has not loaded yet, but your article continues below. Sony, which makes the PlayStation console and game software played on that machine, also posted healthy results in the gaming business. 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. The top seller in its Japan music business was Kenshi Yonezu's 'Lost Corner' album, followed by offerings from Stray Kids and Six Tones. 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. 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. Sony Group Corp. stocks, which fell in Tokyo morning trading, rebounded to finish 3.7% higher after its financial results were announced. Columnists Sunshine Girls NHL Celebrity Editorials
Yahoo
29-01-2025
- Business
- Yahoo
Sony Corp. Shake Up: Hiroki Totoki Named Corporate CEO, Hideaki Nishino Elevated to Solo CEO Role at Sony Interactive Entertainment
Sony Corp. is shaking up its leadership ranks in Tokyo and San Mateo, elevating Hiroki Totoki to the top CEO post while Hideaki Nishino takes the reins of Sony Interactive Entertainment as the solo CEO of the unit that houses PlayStation. The corporate shuffle, effective April 1, was approved late Tuesday by the electronics and entertainment giant's board of directors in Tokyo. Totoki, a 38-year Sony veteran who most recently served as chief operating officer and chief financial officer, will succeed Kenichiro Yoshida as leader of the company that is a cornerstone of the business landscape in Japan. Totoki will serve as president and CEO of Sony Corp. The handoff from Yoshida to Totoki also comes with a restructuring of the senior business ranks. Sony Pictures Entertainment, the company's Hollywood outpost, saw a leadership transition earlier this month when Ravi Ahuja took over CEO duties from Tony Vinciquerra. Sony Corp. in total has about 110,000 employees and is a powerhouse in manufacturing cameras and imaging devices and as well as TV sets, PlayStation devices and movies and TV shows through the Culver City-based Sony Pictures Entertainment. 'I am incredibly honored and humbled to have been entrusted with the important role of President and CEO,' Totoki said. 'My predecessors as CEO, Kazuo Hirai and Kenichiro Yoshida, have greatly enhanced Sony's value, and I will do my utmost to further build on this success and pass on an even better Sony to the next generation. At our Corporate Strategy Meeting in May of last year, we newly announced our `Creative Entertainment Vision,' which outlines where we want Sony to be in 10 years, with our Purpose as the guiding principle. Our greatest driver in achieving this is the diversity of our businesses and people, which is part of Sony's DNA, and our boundary spanners that transcend organizational barriers and organically connect that diversity to create new value. Together with our employees, creators, partners, and our new leadership team, I will work to create a bright future filled with a boundless sense of Kando (emotion).' Nishino was elevated to CEO of Sony Interactive's Platform Business Group in May 2024. He shared oversight of the PlayStation maker with Herman Hulst, who was CEO of the division's studio business group. Those appointments were made in the wake of the departure of CEO Jim Ryan. The elevation of Nishino to the top post overseeing all of SIE caught industry observers by surprise. 'I am truly honored to take the helm at Sony Interactive Entertainment. Technology and creativity are two of our biggest strengths as we continue to focus on developing experiences that deliver entertainment for everyone. We will continue to grow the PlayStation community in new ways, such as IP expansion, while also delivering the best in technology innovation,' Nishino said. 'I want to thank Hermen for his expertise and leadership as he continues his role as CEO, Studio Business Group. I am deeply grateful for the PlayStation community and their continued support and I am very excited for what the future holds,' said Hideaki Nishino, CEO, Platform Business Group. Nishino will serve as president and CEO Sony Interactive Entertainment in addition to serving as CEO of the Platform Business Group and CEO of the Studio Business Group. Sony said that Hulst will continue to 'lead the development, publishing and business operations of SIE's first party-content.' He will also be tasked with driving Sony's push for SIE to work with Sony Pictures in developing adaptations of its gaming franchises as TV shows, movies and other mediums through PlayStation Productions. Other changes unveiled by Sony include the appointment of Lin Tao as the first female CFO in the company's 80-plus year history. Shinji Sashida was named head of the Imaging and Sensing Solutions division, a key growth area in hardware for the company. Tao is a 20-year Sony veteran who was previously senior VP of finance, corporate strategy and development for Sony Interactive Entertainment. Yoshida has been at the top of Sony since 2018. During his tenure, he streamlined the company's operations and furthered its focus on high-margin hardware — such as cameras and video tools — and galvanized the company to put its energy into activities revolving around creativity and entertainment, meaning that its traditional core business of hardware was the foundation but not the focus. Yoshida also upped Sony's investment in content and entertainment assets, starting one month into his tenure when he expanded Sony Music with the acquisition of EMI for more than $3.5 billion. In his public remarks, Yoshida frequently expressed that the company had honed its mission and purpose to 'fill the world with emotion, through the power of creativity and technology.' Yoshida has been with Sony since 1983. Yoshida emphasized that Tuesday's announcement had been in the works and that it was his decision to hand the baton to Totoki. 'Based on Hiroki Totoki's contributions to Sony, including his achievements since being appointed as President and COO in April 2023, I proposed to them that he succeed me as CEO this April,' Yoshida said. 'I am grateful to the Nominating Committee and the Board for their support of this proposal. Totoki has been a key member of the management team ever since I became President and CEO in April 2018. He spearheaded growth strategies for the Sony Group, such as our investments in content IP and semiconductors, and is a leader capable of shaping our vision and strategy for future growth. Going forward, I will support Totoki as he leads his new management team.' (Pictured top: Hiroki Totoki and Hideaki Nishino) Best of Variety What's Coming to Netflix in February 2025 New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in February 2025 Sign in to access your portfolio
