Sony Q1 FY2023 Consolidated Financial Results
Entertainment, Technology & Services (ET&S)
Sales are expected to be higher than the April forecast primarily due to the impact of foreign exchange rates. The forecasts for operating income and Adjusted OIBDA remain unchanged from the April forecast.
- FY23 Q1 sales increased 4% year-on-year to 571.8 billion yen, primarily due to the impact of foreign exchange rates, despite a decline in smartphone and television sales.
- Operating income was 55.6 billion yen, an increase of 2.1 billion yen year-on-year, primarily due to cost reductions in televisions, despite the impact of decreased smartphone sales.
- Adjusted OIBDA increased 3.9 billion yen year-on-year to 80.9 billion yen.
- FY23 sales are expected to be 2 trillion 430 billion yen, an increase of 50 billion yen from the previous forecast.
- There are no changes to the forecasts for operating income and adjusted OIBDA.
Imaging & Sensing Solutions (I&SS)
Sales are expected to be lower than the April forecast mainly due to lower-than-expected unit sales of image sensors for mobile products, as well as image sensors for industrial and social infrastructure. These decreases in sales are expected to be partially offset by the impact of foreign exchange rates. The forecasts for operating income and Adjusted OIBDA are expected to be lower than the April forecast mainly due to the impact of the abovementioned expected decrease in sales, partially offset by the positive impact of foreign exchange rates.
- FY23 Q1 sales significantly increased 23% year-on-year to 292.7 billion yen, mainly due to higher sales of image sensors for mobile products and the impact of foreign exchange rates.
- Operating income decreased 9.0 billion yen year-on-year to 12.7 billion yen, primarily due to an increase in expenses such as depreciation and amortization expenses, despite the positive impact of foreign exchange rates and the effect of increased sales.
- Adjusted OIBDA increased 2.7 billion yen year-on-year to 70.0 billion yen.
- FY23 sales are expected to be 1 trillion 560 billion yen, down 40 billion yen from the previous forecast.
- Operating income and adjusted OIBDA are expected to decrease 20 billion yen from the previous forecast to 180 billion yen and 425 billion yen, respectively
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