索尼年报：净利润创历史新高，但PS5卖不动了？

Core Viewpoint - Sony Group reported its financial results for the fiscal year 2024, showing a slight decline in sales but significant growth in operating and net profits, indicating resilience in certain business segments despite challenges in others [1][2]. Financial Performance - Total sales for FY24 were 12.957 trillion yen, a decrease of 0.5% year-on-year [1][2]. - Operating profit increased by 16.4% to 1.4071 trillion yen [1][2]. - Net profit rose by 17.6% to 1.1416 trillion yen [1][2]. Business Segment Analysis - Game & Network Services (G&NS) saw sales increase by 9% to 4.67 trillion yen, with operating income rising by 43% to 414.8 billion yen, driven by increased third-party software sales [3][4]. - Music segment sales grew by 14% to 1.8426 trillion yen, with operating income up by 18% to 357.3 billion yen, attributed to streaming revenue growth [6][7]. - Imaging & Sensing Solutions (I&SS) reported a 12% increase in sales to 1.799 trillion yen and a 35% rise in operating income to 261.1 billion yen, benefiting from higher sales and prices of mobile image sensors [7][8]. - The Pictures segment maintained stable sales and operating income, with revenue at 1.5059 trillion yen and operating income at 117.3 billion yen, despite challenges from the Hollywood strike [7][8]. - Entertainment, Technology & Services (ET&S) experienced a decline in sales from 2.4537 trillion yen to 2.4093 trillion yen, continuing a downward trend [8]. Future Outlook - Sony aims for a cumulative operating profit margin of over 10% from FY24 to FY26 [2]. - The company anticipates only a 0.3% increase in operating profit for the upcoming fiscal year, projecting it to reach 1.28 trillion yen [2]. - A stock repurchase plan of up to 250 billion yen was announced [2].