Consolidated Quarterly Revenue and Profit Growth
Consolidated sales (excluding Financial Services) for Q3 rose 7% YoY to JPY 3,695.7 billion and operating income increased 10% YoY to JPY 423.0 billion. Consolidated sales including Financial Services grew 18% YoY to JPY 4,409.6 billion, operating income rose 1% YoY to JPY 469.3 billion (a Q3 record), and net income increased 3% YoY to JPY 373.7 billion.
Upward Revisions to Full-Year Forecasts
Full-year consolidated outlook was revised up: sales (ex-FS) to JPY 11,900 billion, operating income (ex-FS) up 2% to JPY 1,190 billion, and operating cash flow up 15% to JPY 1,660 billion. Including Financial Services, sales were revised up 4% to JPY 13,200 billion, operating income up 2% to JPY 1,335 billion, and net income up 10% to JPY 1,080 billion.
Games & Network Services: Strong Momentum and Profitability
G&NS sales increased 16% YoY to JPY 1,682.3 billion; operating income jumped 37% YoY to JPY 118.1 billion (Q3 record for the segment). PlayStation MAUs reached a record 129 million in December (+5% YoY), total play time +2% YoY (seventh consecutive quarter of YoY growth), PlayStation Plus revenue +20% YoY (USD basis) driven by ARPU increases and price revisions, and PS5-related promotion expense per unit declined ~20% YoY. PS5 inventory at end-December fell 46% YoY. FY forecast for the segment raised: sales +3% to JPY 4,610 billion and operating income +7% to JPY 380 billion.
Music Segment Expansion and Streaming Growth
Music sales rose 14% YoY to JPY 481.7 billion and operating income increased 28% YoY to JPY 97.4 billion. Streaming revenue increased ~9% YoY (USD basis) for recorded music and ~8% for publishing. Full-year Music sales and operating income forecasts were each revised up by 3% to JPY 1,790 billion and JPY 340 billion, respectively. Notable artist successes (e.g., Bad Bunny, Beyoncé) and strategic local investments in fast-growing markets (Latin America, India) were highlighted.
Sensor (I&SS) Momentum and Yield Recovery
I&SS cumulative sales for the 9 months rose 15% YoY. Production yields on key mobile image sensor products improved to nearly normal levels during the quarter. The average annual growth rate for mobile sensor sales (FY2022–FY2025) is expected at ~23% on a yen basis and ~11% on a USD basis, and full-year sales forecast was slightly increased to JPY 1,790 billion.
Financial Services: Revenue Gain and New-Policy Growth
Financial Services revenue for the quarter increased by JPY 406.7 billion YoY to JPY 718.5 billion. Sony Life new policy amounts grew 12% YoY on a cumulative basis through Q3. The full-year Financial Services revenue forecast was raised by JPY 390 billion to JPY 1,300 billion.
Shareholder Returns and Balance Sheet Actions
Completed a previously authorized buyback program (maximum JPY 250 billion) by November and established a new buyback facility of up to JPY 50 billion through May. Sony Life began selling some bonds and trading derivatives to mitigate net-asset pressure from rising interest rates, and the full-year forecast incorporates offsets from realized bond sale losses.
Strategic Partnerships and Content Wins
Became largest shareholder in Kadokawa to deepen cross-entertainment collaboration. First-party and partner titles earned major awards (e.g., Astro Bot won Game of the Year), Crunchyroll anime releases (Solo Leveling S2) performed strongly, and major game updates (Helldivers 2) boosted engagement.