Sony raised its full-year operating profit forecast to ¥1.87tn from the ¥1.72tn it gave in July, a ¥150bn (9%) increase that its November 5 earnings presentation attributes mainly to higher profit in pictures and games. Sales are now guided to ¥13.0tn, up from ¥12.5tn, and net income attributable to shareholders to ¥1.33tn from ¥1.21tn. Those July comparisons are separate from the year-on-year view: the interim results report puts the new operating profit guide 29.2% above last year's.
A quarter well ahead of last year
Operating income for July to September was ¥622.3bn, up 45% from ¥429.0bn, on sales of ¥3.43tn, up 10%. At last year's exchange rates, Sony says sales would have grown about 4%. The dollar averaged ¥159.3 against ¥147.4 a year earlier. Operating margin was 18.1%, 4.3 percentage points higher. For the six months, operating income was ¥1.10tn, up 42.9%, on sales of ¥6.27tn.
Last year's figures exclude the financial business. Sony spun off Sony Financial Group on October 1, 2025, and has reported that arm as a discontinued operation since the April-June quarter of last year, so the comparison covers continuing operations only.
Pictures and games do the lifting
Pictures sales rose 48% to ¥513.7bn and operating income reached ¥92.6bn, against ¥13.9bn a year earlier. Sony credits higher theatrical revenue, mainly from "Spider-Man: Brand New Day". It lifted the segment's full-year operating profit guide by a third, to ¥200bn from ¥150bn.
Game & Network Services earned ¥220.1bn, up from ¥120.4bn. Part of that gain is a base effect: the year-earlier quarter carried a ¥31.5bn impairment of some Bungie intangible assets and a ¥18.3bn cost from adjusting capitalised development spending. Network services and first-party software sales also grew, while hardware revenue fell on lower unit sales. The segment's full-year guide rose ¥40bn to ¥700bn, helped by third-party software sales and lower costs. Sony says lower first-party software sales, mainly from changed title release dates, partly offset that.
Music operating income rose ¥7.4bn to ¥122.8bn, and the full-year guide rose ¥25bn to ¥445bn on streaming revenue.
| Segment | Last year actual | July guide | November guide |
|---|---|---|---|
| Game & Network Services | 463.3 | 660.0 | 700.0 |
| Music | 447.0 | 420.0 | 445.0 |
| Pictures | 104.9 | 150.0 | 200.0 |
| Entertainment, Technology & Services | 158.6 | 150.0 | 150.0 |
| Imaging & Sensing Solutions | 357.3 | 420.0 | 450.0 |
| Consolidated | 1,447.5 | 1,720.0 | 1,870.0 |
Sensors and electronics lag
Imaging & Sensing Solutions sales fell 6% to ¥577.6bn on weaker mobile image-sensor sales and volumes. Operating income rose 12% to ¥154.6bn, but Sony lists a currency benefit of ¥25.9bn, larger than the ¥16.4bn increase. The segment's full-year guide rose ¥30bn to ¥450bn on lower costs and currency, with the effect of the Kumamoto earthquake listed as a drag.
Entertainment, Technology & Services sales slipped 1% on lower imaging unit sales. Operating income rose ¥3.2bn to ¥64.1bn, helped by a US tariff refund. Its full-year guide is unchanged at ¥150bn.
The new forecast assumes about ¥153 to the dollar and ¥175 to the euro for the rest of the year, and Sony cautions that actual results could differ materially. The full-year dividend forecast stays at ¥35, including a ¥17.5 interim payment.