Shares of Japanese multinational technology and entertainment company sony today they have dropped to about 7% In the first half of the session after profits fell in the first fiscal quarter of the Tokyo Stock Exchange.
Sony will close the half session on the Tokyo stock market this Thursday. A 4.31% drop after losing up to 6.7% After investors digested the April-June financial report, which was released the day before the negotiations were concluded. This is how investors responded 16.7% decrease in net profit a decline in those months, the first quarter of its fiscal year, which the company attributed to worse profitability in its finance and film branches.
Some analysts stated that given the lower-than-expected sales of the PlayStation 5 (PS5) console and the expected launch delays, investors will also be concerned about the performance of the multinational video game space, which has the biggest weight in their accounts. Games for the platform. Sony said it was one of its “highest priorities” to achieve its goals around the console, whose pace to market was slower than expected. Between April and June, 3.3 million PS5s were sold, and Sony is aiming to hit 25 million for the full year.
Concern also extends to weak data around Sony Pictures, which has not fully recovered from production shutdowns during the pandemic, including the current strike of actors and screenwriters in the sensor industry and Hollywood.
Nikkei, the main index of Tokyo Stock Exchange, came to rest with 0.42% rise with the support of the tourism sector in the face of a planned relaxation that will facilitate the visits of Chinese national groups. They carry the greatest weight on the archipelago’s tourism industry.