Guide Sony commented on investors’ concerns about the impact of the spread of the new coronavirus infection on the state of the corporation.
The report said that Sony is acting in accordance with the instructions of authorities in different parts of the world and at the same time seeks to satisfy the needs of its customers.
- The corporation closed part of its offices in the USA and Europe and transferred specialists working there to remote work.
- Two Sony factories in Malaysia and a manufacturing plant in the UK ceased operation before April 14 and 20, respectively (according to the current plan, the situation may change).
- In China, things are gradually returning to the level at which they were before the coronavirus. Sony’s production facilities in that country have resumed operation, but supply chain problems remain.
- Another problem: due to the restriction on movement between countries, Sony engineers cannot appear in production centers in time to provide on-the-spot training and monitor new product launches.
- Coronavirus greatly influenced the work of the music division of Sony. Due to the decline in advertising activity of brands around the world and the closure of cinemas, the demand for the use of songs by popular artists in various forms of media has fallen. Concerts and other mass events, including those sponsored by Sony in the domestic Japanese market, are being canceled.
- Sony Pictures has frozen the filming of new films, series and television programs. Many premieres are postponed indefinitely.
- Sony carefully monitors the situation in the gaming division and monitors the risks of delays in game production schedules from internal studios and third-party partners. According to Sony, coronavirus will not have a significant impact on the results of Sony Interactive Entertainment in the current fiscal year, which ends March 31. The company will inform about further forecasts later.
- Closing stores and retailers around the world has hit Sony’s electronics sales. In addition, the flow of components from third-party companies necessary for the assembly of goods “has become unstable, which has had a wide influence on the production of equipment.”
Sony also predicts that the situation with coronavirus will definitely affect the overall annual results of the entire corporation and will continue to influence the business in the next fiscal year, which begins on April 1.
Report for the current fiscal year ending March 31, Sony plans to release April 30, but does not exclude that it will be delayed – the spread of coronavirus may disrupt the process of closing accounts and other operations in different countries.
“We express our condolences to the families of the victims of the new coronavirus infection and the words of support to all infected. We are committed to ensuring the safety of our employees and their families and we are taking all necessary steps to prevent the spread of COVID-19,” said Sony.
At the end of 2023, Sony plans to release PlayStation 5.
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