Sony announces financial results for the first quarter of fiscal year 2022, sales decline in the game division is expected to increase the supply of PS5 in earnest towards the end of the year
On July 29, 2022, Sony reported its financial results for the first quarter of fiscal 2022 (April to June). Sales increased by 2.4% year-on-year to 2,311.5 billion yen, and operating income increased by 9.6% to 307 billion yen, but sales of the game & network service division including PlayStation 5 (PS5) decreased. The division's April 2022-March 2023 annual operating profit forecast has also been cut by 16%.
Quarterly Financial Statements for the First Quarter Ended June 30, 2022 And Outlook for the Fiscal Year Ending March 31, 2023 - 22q1_sony.pdf
(PDF file)
(J)FY22.1Q_Handout-22q1_sonypre.pdf
(PDF file) https://www.sony.com/ja/SonyInfo/IR/library/presen/er/pdf/22q1_sonypre.pdf
Sony trims profit forecast after games business falters | Reuters
https://www.reuters.com/technology/sony-posts-96-rise-q1-profit-2022-07-29/
Sony warns of weaker PlayStation business as game sales wobble - The Verge
https://www.theverge.com/2022/7/29/23283410/sony-playstation-game-sales-down-q1-2022
Sony lowers forecast for PS5 gaming sales in 2022 | Engadget
https://www.engadget.com/sony-significantly-lowers-forecast-for-ps-5-gaming-sales-in-2022-083235505.html
Sony's financial results for the first quarter of fiscal 2022 show that sales increased by 54.7 billion yen (2.4%) from 2.2568 trillion yen in the same period of the previous year to 2.3115 trillion yen, and operating income increased from 280.0 billion yen to 27.0 billion yen in the same period of the previous year. Net income per share was 175.21 yen, an increase of approximately 9.6% to 307 billion yen.
The results of each division in the first quarter of 2022 are as follows. Of these, the Game & Network Services (G&NS) division, which includes PS5, posted sales of 604.1 billion yen, down 11.7 billion yen (1.9%) year-on-year, and operating income of 52.8 billion yen, down 30.5 billion yen (36.6%). rice field. On the other hand, the music and movie divisions performed well, and both sales and operating income exceeded those of the same period of the previous year.
The decrease in sales and operating profit in the G&NS division is due to the sluggish PS5 and software sales, which have been in short supply for some time. Sony shipped 2.4 million PS5 units in the quarter, up 100,000 units year-on-year, bringing its total shipments to 21.7 million units, but still falls short of its goal. In addition, software sales decreased by 26% year-on-year.
Regarding the decrease in software sales, Sony has fewer large PlayStation titles in 2022 compared to 2021, and the restrictions on going out due to the new coronavirus infection (COVID-19) have weakened, and the time spent playing games has decreased. explains that it affects The number of monthly active users of the online service PlayStation Network has decreased from 106 million in the fourth quarter of 2021 to 102 million.
In response to this financial result, Sony has revised its annual operating profit forecast for the game division from April 2022 to March 2023 downward by 16%, and the annual operating profit forecast for the entire group by 4% to 1.11 trillion yen. It was made. This includes the acquisition cost of more than 400 billion yen for the game company Bungie, which is known as the developer of the ' Halo ' series and ' Destiny ' series.
Sony acquires Destiny 2 developer Bungie for over 400 billion yen - GIGAZINE
Sony plans to sell 18 million PS5 units in fiscal 2022, and has not revised this target at this time. However, since the number of shipments in the first quarter was 2.4 million units, it is necessary to ship an average of 5 million units or more in the remaining three quarters, Engadget points out.
Sony Group announces that it is expected to sell 18 million PS5 units in 2022-GIGAZINE
Hiroki Totoki, Sony's chief financial officer (CFO), said that the recovery from the lockdown in Shanghai and the improvement in parts supply were seen, and that the PS5 production schedule is being pushed forward for the year-end sales season. claim. The company expects sales to increase in the second half of the year.
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