Sony Group reports record sales in FY2023

Japanese electronics giant Sony Group had a bumper year in fiscal 2023, recording its best-ever annual sales.
The firm credits strong performances in the gaming and music sectors.

Sony Group says consolidated sales came to about 13 trillion yen -- roughly 84 billion dollars.

That's up 18.6 percent from the previous fiscal year. The weak yen inflated the result.

Operating income fell by 7.2 percent to roughly 1.2 trillion yen, or about 7.8 billion dollars. That was still the group's second-best result.

The decline was due to a decrease in profits in the life insurance sector.

Sony Group President Totoki Hiroki says he'll maintain a focus on boosting revenue and improving investments.

The company expects sales to fall in the current fiscal year due to shrinking revenue from financial services.

But it predicts an increase in operating income from rising sales of semiconductors for cameras.