Benefiting from the depreciation of the yen, the Japanese consumer electronics giant Sony Group revised up its financial forecast, and due to the significant improvement in chip supply and logistics constraints, the output of PS5 game consoles in the last quarter (July-September 2022) was better than expected. Spelling out that year (the fiscal year starting in April 2023) will sell 23 million PS5s.
The Sony ADR listed in the United States surged 9.68% on the 1st to close at $74.0, hitting a new closing high level in more than a month and a half (since September 12).
Sony issued an earnings press release after the Japanese stock market on the 1st, announcing that due to the depreciation of the yen, the profit of the image sensor, music, and film divisions will be better than expected, so this year (April 2022-March 2023) Consolidated revenue target was revised up from the original estimate of 11.5 trillion yen to 11.6 trillion yen (annual increase of 16.9%), consolidated revenue target was revised up from 1.11 trillion yen to 1.16 trillion yen (annual decrease of 3.5%), consolidated net profit The target was also revised up to 840 billion yen from 800 billion yen (a 4.8% year-on-year decrease).
Sony pointed out that the above revised financial forecast is based on the premise that 1 US dollar is about 140 yen (previously 1 US dollar is about 130 yen) and 1 euro is about 138 yen (previously 1 euro is about 138 yen). value. Analysts on average expected Sony to report a profit of 1.178 trillion yen this year, Reuters reported, with the revision slightly below market expectations.
Sony pointed out that although the sales volume of image sensors for mobile devices is expected to decrease, it will benefit from the depreciation of the yen. Therefore, this year’s “Image and Sensing Solutions Business (I&SS Business = Semiconductor Business; including CMOS image sensors, Camera modules and other products)” revenue target was revised up from the original estimate of 200 billion yen to 220 billion yen, while revenue remained unchanged at 1.44 trillion yen; benefiting from the depreciation of the yen, Sony will increase its music division revenue this year Revenue was revised up from 1.28 trillion yen to 1.37 trillion yen, revenue was revised up from 230 billion yen to 265 billion yen, film division revenue was revised up from 1.38 trillion yen to 1.45 trillion yen, and revenue was revised up from 100 billion yen to 115 billion yen Japanese yen.
In the game console & network service business (G&NS business), due to the depreciation of the yen and the increase in prices, Sony revised up its G&NS business revenue target for this year from 3.62 trillion yen to 3.63 trillion yen. However, due to the cost of the business Mostly denominated in U.S. dollars, a weaker yen had a negative impact, so earnings were revised down to 225 billion yen from an original estimate of 255 billion yen.
Sony also announced last season (July-September 2022)financial report: Benefiting from the depreciation of the Japanese yen, consolidated revenue increased by 16% year-on-year to 2,751.9 billion yen, consolidated profit increased by 8% to 344 billion yen, and consolidated net profit increased by 24% to 264 billion yen. Yijie hit a record high for the same period of the previous year.
Sony pointed out that the global sales of PS5 game consoles in the last quarter were 3.3 million units, which was about the same level as the same period last year. However, due to the significant improvement in the supply of chips and other materials, and logistics constraints, the PS5 output in the last quarter exceeded 6.5 million units, and the output was better than the original. number of plans.
According to Sony, judging from the actual sales in the U.S. retail channel in September, the average time from the purchase of 100,000 units to completely sold out is 17.5 hours, which shows that consumer demand for PS5 continues to be strong, and in order to cope with the strong demand for PS5 In order to prepare for the peak season at the end of the year, the PS5 sales target for this year is at least 18 million units.
Japanese media reported that Sony Vice President and Chief Financial Officer (CFO) Shishi Hiroki said at an online legal meeting held on November 1 that next year (April 2023-March 2024) will be the PS5 after the sale. In its fourth year, the current sales target is set at more than 23 million units, which will increase by about 30% compared to this year’s sales target.
In addition, the Sony I&SS business (semiconductor business) revenue in the last quarter increased by 43% year-on-year to 389.4 billion yen, the quarterly revenue hit a record high, and the revenue increased by 49% to 74 billion yen. Sony pointed out that due to the improvement in the supply of logic chips, it is possible to increase the production of large-scale and high-quality image sensors to a certain extent, and it is estimated that the shipment of image sensors in the third quarter (October-December 2022) will continue maintained at a high level.
(This article is written by MoneyDJ News Reprinted with permission; source of the first image: shutterstock)