<p>Tokyo: Japan's Sony slashed the full-year sales forecast for its PlayStation 5 console on Wednesday and said it plans to list its financial business next year as it focuses on entertainment and image sensors.</p><p>Sony cut its PS5 sales forecast for the year ending March to 21 million units, from 25 million units previously, after weaker-than-expected sales over the year-end shopping season.</p><p>The company said it expects a gradual decline in unit sales from the next financial year and that it does not plan to release any major franchise titles in the coming fiscal year.</p><p>Sony, which in 2023 said it was examining a partial spin-off of its financial business, said it plans to list Sony Financial Group in October 2025 and retain a stake of just under 20 per cent.</p>.Sony-Zee merger case: Sony disappointed with Singapore emergency arbitrator's decision.<p>The company's operating profit in the October-December quarter jumped 10 per cent to 463.3 billion yen ($3.08 billion), beating an average estimate of 428 billion yen from 11 analysts polled by LSEG, as strong performance by the financial, movies and music businesses offset weakness in games.</p><p>Known as the inventor of the Walkman, Sony has transformed from an electronics manufacturer into an entertainment and tech behemoth spanning movies, music, games and chips.</p><p>Sony sold 8.2 million PlayStation 5 units in the third quarter, which spans the year-end shopping period, compared with 7.1 million units a year earlier.</p><p>Operating profit at the games business fell by around a quarter, hit by higher losses from hardware due to promotions and lower sales of first-party titles.</p><p>"Sony tried hard with promotions, bundles and discount but the sales target was too ambitious from the get-go," said Serkan Toto, founder of consultancy Kantan Games.</p><p>"In the end they will probably land closer to 22-23 million units," Toto added.</p><p>Monthly active users on the PlayStation network, a measure of engagement with the platform, reached 123 million units at the end of the quarter from 107 million three months earlier.</p>.Adani Green Energy likely to tap dollar bond market in March.<p>Sony said it has sold 10 million copies of <em>Marvel's Spider-Man 2</em>, which launched on October 20, with the company also rolling out a slim version of the console from November to boost sales.</p><p>Nintendo last week hiked its full-year Switch forecast to 15.5 million units, from 15 million units previously, as the Kyoto-based company extends the lifecycle of the aging console.</p><p>Xbox maker Microsoft is due to share updates on its games business on Thursday amid speculation the company will bring its titles to other platforms.</p><p>"If big third-party titles grow that will be a positive factor and we hope to utilise that momentum," Sony President Hiroki Totoki told a news briefing.</p><p>Sony, a leading maker of image sensors for smartphones, said profit at its chips division rose 18 per cent on higher sales.</p><p>TSMC said last week it will build a second fab in Japan in partnership with companies including Sony in a vote of confidence by the leading contract chipmaker in the country.</p><p>Last month Sony scrapped plans for a $10 billion merger of its Indian business with Zee Entertainment which would have created a TV juggernaut.</p><p>The Indian market has great growth potential on a long-term basis, Totoki said.</p><p>"If we can find another opportunity that would replace this type of plan we will actively look at that and we also need to reformulate our organic growth strategy," Totoki said.</p><p>Sony's shares closed down 0.5 per cent ahead of earnings. They have gained 9 per cent this year.</p><p>($1 = 150.5400 yen)</p>
<p>Tokyo: Japan's Sony slashed the full-year sales forecast for its PlayStation 5 console on Wednesday and said it plans to list its financial business next year as it focuses on entertainment and image sensors.</p><p>Sony cut its PS5 sales forecast for the year ending March to 21 million units, from 25 million units previously, after weaker-than-expected sales over the year-end shopping season.</p><p>The company said it expects a gradual decline in unit sales from the next financial year and that it does not plan to release any major franchise titles in the coming fiscal year.</p><p>Sony, which in 2023 said it was examining a partial spin-off of its financial business, said it plans to list Sony Financial Group in October 2025 and retain a stake of just under 20 per cent.</p>.Sony-Zee merger case: Sony disappointed with Singapore emergency arbitrator's decision.<p>The company's operating profit in the October-December quarter jumped 10 per cent to 463.3 billion yen ($3.08 billion), beating an average estimate of 428 billion yen from 11 analysts polled by LSEG, as strong performance by the financial, movies and music businesses offset weakness in games.</p><p>Known as the inventor of the Walkman, Sony has transformed from an electronics manufacturer into an entertainment and tech behemoth spanning movies, music, games and chips.</p><p>Sony sold 8.2 million PlayStation 5 units in the third quarter, which spans the year-end shopping period, compared with 7.1 million units a year earlier.</p><p>Operating profit at the games business fell by around a quarter, hit by higher losses from hardware due to promotions and lower sales of first-party titles.</p><p>"Sony tried hard with promotions, bundles and discount but the sales target was too ambitious from the get-go," said Serkan Toto, founder of consultancy Kantan Games.</p><p>"In the end they will probably land closer to 22-23 million units," Toto added.</p><p>Monthly active users on the PlayStation network, a measure of engagement with the platform, reached 123 million units at the end of the quarter from 107 million three months earlier.</p>.Adani Green Energy likely to tap dollar bond market in March.<p>Sony said it has sold 10 million copies of <em>Marvel's Spider-Man 2</em>, which launched on October 20, with the company also rolling out a slim version of the console from November to boost sales.</p><p>Nintendo last week hiked its full-year Switch forecast to 15.5 million units, from 15 million units previously, as the Kyoto-based company extends the lifecycle of the aging console.</p><p>Xbox maker Microsoft is due to share updates on its games business on Thursday amid speculation the company will bring its titles to other platforms.</p><p>"If big third-party titles grow that will be a positive factor and we hope to utilise that momentum," Sony President Hiroki Totoki told a news briefing.</p><p>Sony, a leading maker of image sensors for smartphones, said profit at its chips division rose 18 per cent on higher sales.</p><p>TSMC said last week it will build a second fab in Japan in partnership with companies including Sony in a vote of confidence by the leading contract chipmaker in the country.</p><p>Last month Sony scrapped plans for a $10 billion merger of its Indian business with Zee Entertainment which would have created a TV juggernaut.</p><p>The Indian market has great growth potential on a long-term basis, Totoki said.</p><p>"If we can find another opportunity that would replace this type of plan we will actively look at that and we also need to reformulate our organic growth strategy," Totoki said.</p><p>Sony's shares closed down 0.5 per cent ahead of earnings. They have gained 9 per cent this year.</p><p>($1 = 150.5400 yen)</p>