Patrick Frater Asia Bureau ChiefJapanese electronics and entertainment group, Sony Group Corp. revealed JPY2.31 trillion of revenue ($17.5 billion) in the three months between April and June, representing the first quarter of its financial year.
Group profits JPY218 billion ($1.65 billion) in the quarter were. These were modest increases of 2% and 3% respectively in local currency terms.The group warned of global macro-economic risks that have grown significantly since its last financial report.
It said that it was not anticipating a rapid recovery in China and was diversifying production and sourcing across the group.The quarterly results were significantly affected by currency movements, notably the strength of the US Dollar, as the U.S.
Federal Reserve uses interest rates to attempt to slow inflation, and by the record weakness of the Japanese Yen, where a contrasting macro-economic strategy is being applied.
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