Sony Group Corp. said Wednesday its net profit broke past the 1 trillion yen mark for the first time in the business year through March to a record 1.17 trillion yen ($11 billion), lifted by pandemic-induced gaming demand and the launch of the PlayStation 5 console.
The sharp gain in net profit, double the level in fiscal 2019, came as Sony also benefited from the blockbuster anime movie "Demon Slayer," underscoring the successful diversification of its business portfolio from electronics.
Operating profit rose 15.0 percent to 971.87 billion yen and sales rose 9.0 percent to 9 trillion yen in the year ended March 31, 2021.
For the current fiscal year, Sony expects a net profit of 660 billion yen.
The electronics giant was formally known as Sony Corp. before a name change on April 1. The company primarily serves headquarters functions of the Japanese conglomerate encompassing financial services, gaming, entertainment and electronics.
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