Sony announced its fourth quarter and full year consolidated financial results for the fiscal year ended on March 31, 2018. Sales and operating revenues for Q4 FY17 were ¥1951.0 billion ($17.99 million), an increase of 2.5%, compared to ¥1903.6 billion ($17.46 million) in Q4 FY16. Net loss for Q4 FY17 was ¥16.8 billion ($150 million), down by 44.5%, compared to the net income of ¥27.7 billion ($250 million) in Q4 FY16.
Sales and operating revenues for fiscal 2017 were ¥8544.0 billion ($17.99 million), an increase of 12.4%, compared to ¥7603.3 billion ($17.46 million) in fiscal 2016. Net income for fiscal 2017 was ¥490.8 billion ($150 million), up by 569.5%, compared to ¥73.3 billion ($250 million) in fiscal 2016.
Sony has made significant growth in most of its business segments except mobile communication. This segment (MC) witnessed decline in sales from ¥759.1 billion ($6.96 billion) to ¥723.7 billion ($6.64 billion) due to a decrease in smartphone unit sales, an increase in the price of key components and the firm had to bear a ¥31.3 billion ($290 million) impairment charge in the fiscal fourth quarter.
Sales growth in game & network services (G&NS) was 18% and this growth was primarily driven by an increase in PlayStation4 software sales as well as an increase in the number of subscribers for PlayStation Plus (a paid membership). Sales growth in the music segment was 24% and was primarily due to higher Visual Media and Platform sales and higher recorded music sales.
Home Entertainment & Sound (HE&S) sales growth was 18%, primarily due to an improvement in the product mix of televisions and the impact of foreign exchange rates. Sales growth in the motion picture segment was 12% due to higher sales in Media Networks, Motion Pictures and Television Productions. The semiconductor segment’s sales growth was 10% and this increase was primarily due to a significant increase in unit sales of image sensors for mobile products. Imaging Products & Solutions business segments also witnessed 12% growth was mainly due to the absence of the impact from the Kumamoto Earthquakes in the previous fiscal year. Financial Services (FS) sales growth was 13% primarily due to an increase in insurance premium revenues of Sony Life.
The company’s outlook for the fiscal year ending March 31, 2019 briefs that consolidated sales are expected to decrease due to a decrease in sales in the MC segment and the impact of foreign exchange rates.
