TOKYO — Leading global electronics, entertainment and gaming conglomerate Sony Group Corporation has released its full fiscal year 2024 financial results, reporting a modest 3.4% decline in annual net profit while projecting a strong recovery to all-time record earnings for the ongoing 2025 fiscal year.
For the 12-month period ending in March 2024, the Tokyo-based firm posted net profit of 1.03 trillion Japanese yen, equivalent to roughly $6.6 billion. That figure marks a pullback from the 1.07 trillion yen net profit the company recorded in the prior fiscal year.
Two key headwinds dragged down the company’s bottom line over the past year, Sony executives confirmed: the termination of the joint electric vehicle development project with major Japanese automaker Honda Motor Co., and persistent elevated costs for semiconductors, a critical component for the company’s gaming, electronics and imaging product lines. Unlike many large technology and entertainment conglomerates, Sony operates a diversified business portfolio spanning film production, recorded music, video game development, consumer electronics and network services, meaning it faces overlapping cost pressures across multiple segments.
Despite the annual profit dip, Sony achieved solid top-line growth over the past fiscal year: total annual sales climbed 3.7% year-over-year to hit nearly 12.5 trillion yen, or approximately $80 billion. Strong revenue growth was driven by blockbuster film releases including the newest installment of the *Demon Slayer* animated franchise and the Japanese drama *Kokuho*, paired with steady consumer demand for the company’s video game offerings and subscription-based network services.
The company’s fourth-quarter results, however, showed a starker decline: net profit fell 63% to 83 billion yen ($529 million) compared to 224 billion yen in the same quarter last year. Quarterly sales still posted an 8% uptick to 3 trillion yen ($19 billion), with the company’s music segment, which represents top global artists including Bad Bunny and SZA, contributing consistent revenue to the quarter’s results.
Looking ahead to the current 2025 fiscal year, Sony is projecting net profit will jump 13% from the past year to reach 1.16 trillion yen ($7.4 billion) — which would mark the highest annual profit in the company’s 78-year history. The conglomerate is banking on upcoming high-profile theatrical releases, including *Spider-Man: Brand New Day* and *Jumanji: Open World*, to drive ticket and merchandise sales that will lift full-year earnings.
Alongside its financial projections, Sony announced Friday a major share repurchase program: the company will buy back up to 230 million of its outstanding shares, allocating up to 500 billion yen ($3.2 billion) for the initiative, a move designed to boost shareholder value. Following the announcement, Sony stock, which has traded around 3,000 yen ($19) per share in recent weeks, gained 1% on the Tokyo exchange Friday.