TOKYO -- Sony and Nintendo, two leaders in the gaming industry, on Tuesday projected lower profits for the current fiscal year as supply chain constraints, in part due to China's COVID-19 lockdowns, continue to weigh on global businesses.
Sony Group said it expects a 6% decline in net profit at 830 billion yen ($6.3 billion) for the fiscal year ending March 2023. Nintendo expects an even bigger year-on-year fall, of 29%, in its net profit to 340 billion yen.
