Sony Group shares fell 8.6% in Tokyo on Thursday, after the company cut its PlayStation 5 sales forecast and announced that its gaming division had lower-than-expected results for the holiday period.
Sony cut its PS5 sales forecast for the current fiscal year by more than 3 million units to 11.5 million, warning that supply and logistical challenges will continue into 2022.
A strong performance in the film division, led by the latest Spider-Man movie, and an image sensor business is driven by Apple’s huge iPhone sales helped offset some of the losses, but investors are still more interested in the major game company. The group’s long-term outlook remains cautious.