The Kumamoto natural disaster that occurred in mid-April a year ago essentially shut down one of Sony's five imaging sensor factories, causing $1.03 billion in damages for the firm, according to its internal estimates.
We are just months away from celebrating the fourth anniversary of the PlayStation 4 console, which continues to do well in the market for Sony.
Company-wide, Sony Corp. reported net income of $722 million (809 billion yen) on sales of $16.59 billion (1.86 trillion yen).
The Japanese conglomerate, famed for producing the first portable cassette player at the end of the 1970s, has spent the recent past restructuring as price competition in its backbone consumer electronics business dragged down profit growth. Sonys fiscal first quarter profit almost quadrupled compared to a year ago, boosted by its lucrative image sensor and other businesses, highlighting a gradual recovery at the Japanese electronics and entertainment company.
While sales were up, Operating Income fell by 59.7% to 17.7 billion yen, "primarily due to the absence of the significant contribution from Uncharted 4", as well as that PS4 price drop.
For this current fiscal year, Sony expects to ship 18 million PS4s, down from 20 million in the previous fiscal year. Sony's semiconductor division, which includes image sensors, posted an operating profit of 55.4 billion yen, reversing the year-earlier loss of 43.5 billion yen, as operations at a key plant fully resumed to meet brisk demand for image sensors for smartphones.
Quarterly operating profit easily topped a consensus estimate of 133 billion yen.
We're counting two PlayStation VR deals as of writing, with a PS VR Core Headset on tap for $360, and a PlayStation VR Worlds Bundle for $450.
Much of this success has to do with Sony's ever-growing clout in the world of photographic image sensors, which the company invested $4 billion in to ramp up further in 2015 before spinning the division off as a new company called Sony Semiconductor Solutions. There was also a ¥2.4bn negative impact from foreign exchange rate fluctuations.
The profit surge is mainly due to Sony's image sensor business.
Venezuela's Maduro blames sanctions on United States imperialism
Maduro said in a speech on Wednesday, after the White House imposed sanctions against 13 current and former Venezuelan officials . The existing Supreme Court has consistently backed Maduro and shot down all measures by the opposition-led National Assembly.