The company’s five major services including entertainment, game, and music have all seen growth in both revenue and profit amid the uncertainties of global economy.
Japanese conglomerate Sony Group (SONY: NYSE) reported on May 10 an operating profit of JPY 1,200 billion (USD 9.2 billion) in the fiscal year ended March 31, 2022, hitting its record high.
The company posted a revenue of JPY 9,921 billion in 2021 fiscal year, up 10% year on year, and a net profit of JPY 882 billion, registering a 3% growth over the same period in 2020.
The segment of game and internet services is the largest contributor to Sony’s profits in 2021. It saw an 83.5 billion yen increase to JPY 2,739 billion, with an operating profit of JPY 346.1 billion.
Sony plans to tap the entertainment market by re-upping its investment in game services and talents. The global giant announces a JPY 1160 billion goal of operating profit in the 2022 fiscal year.
Sony also said in the announcement that its factory in Shanghai has resumed work since May 8, after a lockdown from March 28. The major products of the Shanghai factory are televisions, cameras, and projectors.