Shares were up as much as 12% in Tokyo on Wednesday after slumping more than 30% this year prior to its latest earnings report.
Chief Financial Officer Hiroki Totoki said the games business was feeling the compound effects of cooler consumer appetites and the worldwide reopening after the pandemic, with both factors pushing people away from games and other leisure spending. “Considering the PlayStation did not see a single big game in the quarter, numbers were surprisingly stable,” said industry analyst Serkan Toto of Kantan Games.
The image sensor business was aided by the fall in the yen’s value — as much of the production is done in Japan and shipped overseas — in a year when smartphone sales have slumped globally and especially in China, the world’s biggest mobile market.
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