TOKYO -- Sony Group posted a net profit of 970 billion yen ($6.2 billion) for the fiscal year that ended in March, down 3.5% from the previous year, dragged lower by results in its financial business along with its imaging and sensing solutions operations.
The Japanese company's overall sales increased 18.6% to 13 trillion yen. Revenues from its financial business almost doubled from the year before due to net investment gains by Sony Life Insurance, although operating profit dropped by 45%. Profits in the previous year reflected some one-off factors such as a 22.1 billion yen gain from the recovery of an unauthorized withdrawal of funds at Sony Life.
