Sony sales and operating revenue increased 5.8%
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PC exit costs decreased 18.7 billion yen year-on-year to $330 million.
This increase was partially offset by a significant decrease in sales in All Other, primarily related to Sony’s exit from the PC business. On a constant currency basis, sales were essentially flat year-on-year. For further details about sales on a constant currency basis.
Operating income increased 42.1 billion yen year-on-year to 68.5 billion yen ($571 million). This significant increase was primarily due to a significant improvement in the operating results of the Devices, G&NS and Home Entertainment & Sound (HE&S) segments.
This improvement was partially offset by a significant deterioration in operating results in the Mobile Communications (MC) segment, primarily due to a 176 billion yen ($1,467 million) impairment of goodwill.
Operating income for the current fiscal year included a gain of 14.8 billion yen ($123 million) recognized on the sale of certain buildings and premises at Gotenyama Technology Center in Japan, recorded in Corporate and elimination and an 11.2 billion yen ($93 million) write-down of PlayStation Vita (PS Vita) and PlayStation TV (PS TV) components in the G&NS segment.
Operating income in the previous fiscal year included a 32.1 billion yen impairment charge related to long-lived assets in the battery business in the Devices segment, a 25.6 billion yen impairment charge related to long-lived assets in the disc manufacturing business outside of Japan and the U.S. and goodwill across the entire disc manufacturing business, a 12.8 billion yen impairment charge related to long-lived assets in the PC business and a gain of 12.8 billion yen from the sale of certain shares of M3, Inc., all of which were recorded in All Other.
During the current fiscal year, restructuring charges, net, increased 17.4 billion yen year-on-year to 98.0 billion yen ($817 million). PC exit costs decreased 18.7 billion yen year-on-year to 39.6 billion yen ($330 million) which included 19.6 billion yen ($164 million) of restructuring charges. For further details about PC exit costs, see page 7. ■