Sony Announces Q1 Results: Sales Was ¥1,515.2 Billion, Operating Income Decreased To ¥6.3 Billion, Operating Profit Down 77 Percent

Posted on Aug 2 2012 - 6:20am by Editorial Staff

Sony today announced its first quarter earnings, ended June 30, 2012. The company reported sales of ¥1,515.2 billion, an increase of 1.4% compared to the same quarter of the previous year, the increase was primarily due to a significant increase in sales in the MP&C segment, while sales in the HE&S segment decreased significantly. Operating income decreased ¥21.2 billion year-on-year to ¥6.3 billion ($79 million), blaming deterioration in MP&C segment results and unfavorable foreign exchange rates. Restructuring charges, net, increased ¥9.5 billion year-on-year to ¥11.3 billion ($143 million). The income before taxes was ¥9.4 billion.

Business Highlights:

  • Imaging Products & Solutions (IP&S) – Sales increased 7.6% year-on-year (a 12% increase on a constant currency basis) to ¥193.8 billion yen while operating income was ¥12.6 billion.
  • Games – Sales decreased 14.5% year-on-year (a 10% decrease on a constant currency basis) to 118.0 billion while operating loss of 3.5 billion yen (45 million U.S. dollars) was recorded, compared to operating income of 4.1 billion.
  • Mobile Products & communications (MP&C) – Sales increased 132.9% year-on-year (a 151% increase on a constant currency basis) to ¥285.6 billion while operating loss of ¥28.1 billion yen (356 million U.S. dollars) was recorded, compared to operating income of ¥1.6 billion in the same quarter of the previous fiscal year.
  • Home Entertainment & Sound (HE&S) – Sales decreased 26.2% year-on-year (a 23% decrease on a constant currency basis) to ¥251.8 billion while operating loss decreased ¥3.6 billion year-on-year to ¥10.0 billion. ·
  • Devices – Sales decreased 14.4% year-on-year (an 11% decrease on a constant currency basis) to ¥217.3 billion while operating income increased ¥10.6 billion yen year-on year to ¥15.9 billion (202 million U.S. dollars).
  • Pictures – Sales increased 6.2% year-on-year (a 7% increase on a constant currency (U.S. dollar) basis) to ¥153.4 billion while an operating loss of ¥4.9 billion (62 million U.S. dollars) was recorded, compared to operating income of ¥4.3 billion in the same quarter of the previous fiscal year.
  • Music – Sales decreased 9.8% year-on-year (a 9% decrease on a constant currency basis) to ¥98.8 billion while operating income decreased ¥4.8 billion year-on-year to ¥7.3 billion (92 million U.S. dollars).
  • Financial Services – Financial services revenue decreased 3.5% year-on-year to ¥194.5 billion (2,462 million U.S. dollars) mainly due to a decrease in revenue at Sony Life.  Revenue at Sony Life decreased 6.0% year-on-year to ¥169.1 billion (2,141 million U.S. dollars) while operating income decreased ¥1.1 billion year-on-year to ¥27.6 billion (349 million U.S. dollars).
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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.