Sony reports $765M impairment loss in FY25 due to Bungie underperformance

In its FY25 report, Sony (SONY) reported a 120.1B yen, or roughly $765M, impairment loss due to underperformance of “Destiny” and “Marathon” studio Bungie during the last financial year. “In our studio business, earnings from Bungie’s title portfolio did not reach our expectations, so we downwardly revised our business plan and impaired the full amount of the fixed assets related to Bungie except for goodwill,” the company said, noting that player reception to “Marathon” is strong. “Going forward, we aim to improve the performance of the game by working to retain highly engaged core users through the introduction of additional content, further improvements in the gameplay experience and expansion of the user base,” Sony added. The Fly notes that Sony acquired Bungie in 2022 in a deal valued at $3.6B.