TOKYO (Reuters) -Japan's Sony Group Corp on Thursday edged up its annual profit forecast, helped by a strong showing for its videogame division, and raised PlayStation 5 game console sales target by one million units to 19 million for the business year to March.
The electronics and entertainment giant also said its
chief financial officer, Hiroki Totoki, would become president and chief operating officer from April 1, while retaining his current role.
Incumbent president Kenichiro Yoshida will remain as chairman and chief executive officer.
The company said it now expects operating profit for the year to March 31 to total 1.18 trillion yen ($9.17 billion), up 1.7% from its previous forecast of 1.16 trillion yen.
That remains short of analysts' average estimate of a 1.19 trillion yen profit, according to Refinitiv data, and just shy of a record profit of 1.2 trillion yen posted a year earlier.
Sony said sales of its PS5 consoles came to 7.1 million units in October-December quarter, which overlaps with the critical year-end shopping season, up sharply from 3.9 million units a year earlier.
"Various steps we have been taking on both the hardware and software sides are steadily bearing fruit. I believe we are generating positive momentum to re-accelerate growth in our game operations," Totoki told a post-earnings briefing.
Sony last year struggled to produce enough PlayStation 5 units due to supply chain snarls.
Totoki said risks associated with supply chains have not been resolved yet, and the company boosted the game console production sharply in the October-December quarter so it can safely meet demand in the current quarter.
($1 = 128.6800 yen)
(Reporting by Kiyoshi TakenakaEditing by Shri Navaratnam, David Dolan and Simon Cameron-Moore)
