SONY trimmed its annual net profit forecast today, partly due to acquisition expenses, including the purchase of game studio Bungie.

The PlayStation manufacturer now predicts net profit for 2022-23 will total ¥800 billion (RM26.8 billion), down from the ¥830 billion previously forecast.

It said the predicted increase in acquisition expenses was “mainly due to the acquisition of Bungie, Inc. being completed earlier than the assumed timing”.

Sony announced in February it was buying the creator of hits like Halo and Destiny weeks after its US rival Microsoft unveiled a landmark pact to acquire Call of Duty maker Activision Blizzard.

Microsoft said its massive merger will make it the third-largest gaming company by revenue, behind Tencent and Sony – marking a major shift in the booming gaming world.

Sony also said today it expects higher sales for anime streaming services, “including the impact of the acquisition of Crunchyroll”, the world’s largest online library of Japanese animation.

And it sees higher licensing and home entertainment revenues for its motion pictures sector, led by the success of titles released in the last financial year.

In the April to June quarter, the Japanese conglomerate posted a 3% year-on-year rise in net profit to ¥218.2 billion, with sales up around 2% to ¥2.3 trillion. – AFP, July 29, 2022.