Sony Pictures Profits Slip by 10%, Despite Marginal Sales Gain
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variety.comPatrick Frater Asia Bureau Chief Sony Group Corporation saw its sales climb by 19% to JPY13.0 trillion in its financial year to March 2024, boosted by a sharp depreciation of the Japanese currency.
Net profits for the group were down 3% to JPY971 billion. It was a similar scenario at Sony’s ‘pictures division,’ which comprises theatrical film, TV networks and television content production.
Net profits were down by 10% in dollar terms at $808 million, compared with $895 million a year earlier. That was despite sales that were up 2% to $10.3 billion.
But in the Japanese parent group’s accounts the greater value of these dollar profits showed much smaller decline when expressed in Japanese Yen.
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