Sony’s latest earnings reveal a simple truth: former CEO Kaz Hirai left the company in a relatively good position. In the full year leading up to March 31st, 2018, the company raked in revenue of 8,544 billion yen (roughly $78.1 billion) and operating income, or profit, of 734.9 billion yen (roughly $6.7 billion). The latter figure is a huge improvement over the $2.6 billion it managed to pull in last time. The bump, however, was expected; in the last financial year, Sony’s camera imaging business was rocked by the 2016 Kumamoto earthquakes. Now, that crucial division is back at full strength.
This is the Sony statement about the Imaging Business results:
Results for the fiscal year ended March 31, 2018 SAR
Sales increased 76.3 billion yen (13%) year-on-year (a 9% increase on a constant currency basis) to 655.9 billion yen. This significant increase was mainly due to the absence of the impact from the Kumamoto Earthquakes in the previous fiscal year, the impact of foreign exchange rates and an improvement in the product mix of Still and Video Cameras reflecting a shift to high value-added models.
Operating income increased 27.7 billion yen year-on-year to 74.9 billion yen. This significant increase was mainly due to the above-mentioned improvement in product mix, the positive impact of foreign exchange rates and the absence of the impact from the Kumamoto Earthquakes in the previous fiscal year. During the current fiscal year, there was a 11.6 billion yen positive impact from foreign exchange rate fluctuations.
Forecast for the fiscal year ending March 31, 2019
Sales and operating income are both expected to be essentially flat year-on-year, primarily due to the expected negative impact of foreign exchange rates being substantially offset by an improvement in the product mix of Still and Video Cameras reflecting a shift to high value-added models.
All good so far. Now give us the new A7sIII and A6700 :)