Sony Financial Group cut its consolidated earnings forecasts for the fiscal year ending March 2027. The forecasts were revised to reflect the impact of market fluctuation losses in its life insurance business.
Sony Financial Group cut its consolidated earnings forecasts for the fiscal year ending March 2027. The new figures are operating profit of ¥20 billion, pretax profit of ¥28 billion and net income of ¥17 billion.
Compared with the previous forecasts, operating profit was reduced from ¥29 billion, pretax profit from ¥37 billion and net income from ¥23 billion. As a result, the company's full-year outlook is more conservative than previously assumed.
Market fluctuation losses in the life insurance business were cited as the reason for the revision. Changes in the environment surrounding the insurance business reportedly affected the earnings outlook of a subsidiary, leading to a review of the consolidated figures.