TOKYO (dpa-AFX) - Sony Group Corp. (SON.L, SNE), a Japanese conglomerate, on
Tuesday reported a decline in net earnings for the full year 2023, amidst higher
costs and expenses. However, the Group recorded an increase in revenue.

For the 12-month period ended March 31, Sony posted profit of 970.573 billion
yen or 785.68 yen per share, lesser than restated 1.005 trillion yen or 809.85
yen per share, registered last year.

Pre-tax income was at 1.268 trillion yen as against last year's restated 1.274
trillion yen.

Operating income fell to 1.208 trillion yen from restated 1.302 trillion yen a
year ago.

Total costs and expenses increased to 11.822 trillion from last year's restated
9.696 trillion yen.

Total sales and financial services revenue stood at 13.020 trillion yen, higher
than last year's restated 10.974 trillion yen, due to significant increase in
sales of Financial Services, Game & Network Services, Music and Imaging &
Sensing Solutions segments.

Sales of Game & Network Services increased to 4.267 trillion yen from last
year's restated 3.644 trillion yen.

Looking ahead to the full year 2024, Sony expects profit of 925 billion yen,
down 4.7 percent from last year. This is mainly due to an expected increase in
income taxes resulting from a decrease in tax credits in both Japan and the U.S.

Annual operating income is projected to be at 1.275 trillion yen, up 5.5 percent
from last year.

The Group expects its annual 2024 sales to decline by 5.5 percent to 12.310
trillion yen. This is mainly as a result of an expected significant decrease in
sales in the Financial Services segment and projected fall in the Entertainment,
Technology & Services and G&NS segments.



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