Sony sets record PlayStation target as yearly net income rises 6%

Group aims to sell 25 million PS5 consoles in year through next March

For the financial year ended March, the Japanese tech group reported a net profit of 937 billion yen, up 6.2% from the previous year, helped by strength in its games business. © Reuters

NATSUMI KAWASAKI, Nikkei staff writer

April 28, 2023 16:49 JST

Updated on April 28, 2023 18:40 JST

TOKYO -- Sony Group on Friday reported a 6% rise in annual net income but forecast a drop for the current fiscal year, even as it set a record sales target for the PlayStation 5 of selling 25 million units in the year through next March.

Profits for the recently ended fiscal year dipped in Sony's gaming business, which includes the PS5, due to the costs of acquiring a U.S. gaming company and higher development expenses.