Sony launches ¥500 billion buyback after stock drops 22%
Sony just rolled out a massive ¥500 billion ($3.2 billion) share buyback after its stock dropped 22% this year, mostly because rising component costs have squeezed profits on hardware like the PlayStation 5.
It is also canceling 3% of its shares later this month.
Still, Sony expects to bounce back with a projected ¥1.6 trillion operating profit by March 2027, and strong growth in music and smartphone camera tech contributed most to the prior year's growth.
Sony nears $4B music catalog deal
Sony's moving away from struggling hardware and doubling down on things that are working, like is close to securing a nearly $4 billion music catalog deal.
For PlayStation fans, Sony's betting big on software and upcoming hits like Grand Theft Auto VI to boost engagement, even as hardware costs stay high.
The company is clearly aiming for more steady growth by focusing on what keeps people coming back: great content and smart tech.