Tokyo: Sony lifted its full-year net profit and sales forecasts on Thursday, citing strength in the company’s gaming, music and image-sensor sectors.

The Japanese electronics giant said it saw net profit hitting 880 billion yen ($5.8 billion) in the year to March 2024, up from the previous projection of 860 billion yen.

Annual sales were seen at 12.4 trillion yen, compared with a previous estimate of 12.2 trillion yen.

“Sales are expected to be higher than the August forecast mainly due to higher-than-expected sales in the Game & Network Services, Music and Imaging & Sensing Solutions segments,” Sony said in a financial statement.

A weaker yen helped boost the gaming and music sectors, with the latter also buoyed by “an increase in revenues from streaming services”, it said.

Gaming has consistently been one of Sony’s main driving forces, with the firm aiming to sell 25 million units of its new PlayStation 5.

While partially offset by an expected decrease in demand among automotive and industrial infrastructures, sales in the image-sensor sector were projected to be robust thanks to favourable foreign exchange rates, the firm added.

AFP