Sony Group Corporation reported its FY25 financial results today, revealing PlayStation 5 hardware sales of 16 million units for the fiscal year ending March 31, 2026. That’s down from 18.5 million units in FY24, a 13.5 percent decline. The bigger story, though, is the continued financial damage from Bungie. Sony recorded ¥120.1 billion (roughly $797 million USD) in impairment losses against Bungie’s intangible and other assets across FY25, with ¥31.5 billion booked in Q2 and another ¥88.6 billion taken in Q4.
The Q4 hit lands just weeks after Marathon launched on March 5, 2026. Bungie has been actively patching the game since launch, with update 1.0.6 a few weeks ago focused specifically on helping solo players and incentivizing crew cooperation. Player count trends apparently haven’t recovered enough to satisfy Sony’s accountants. Adding insult to injury, Sony also booked a separate ¥18.3 billion charge in Q2 for “a correction in the amount of certain previously capitalized development costs” within G&NS, bringing total non-recurring losses for the segment to ¥138.4 billion ($918 million) for the year.
What’s notable is that the rest of the Game & Network Services segment is performing fine. Strip out the non-recurring losses and Adjusted OIBDA came in at ¥719.8 billion, up 34 percent year-over-year. Full game software unit sales climbed to 317.9 million in FY25 from 303.3 million in FY24, with first-party titles specifically jumping to 32.1 million units from 28.9 million. The digital download ratio also rose to 78 percent for the year, with Q4 reaching 85 percent. Network Services revenue (PlayStation Plus and advertising) hit ¥763.1 billion, up nearly 14 percent year-over-year. Hardware shipments are softening, but the services and software side keeps moving in the right direction.
Speaking of first-party, Sony shared a new sell-through figure for Ghost of Yōtei, which moved 3.3 million units in its first 32 days as of November 2, 2025. For context, Astro Bot did 1.5 million units in 58 days last year, and Helldivers 2 hit 12 million units in 87 days when combining PlayStation 5 and PC sales. Yōtei’s start lines up with what you’d expect from a Ghost of Tsushima follow-up, though it didn’t quite have the breakout pace Helldivers 2 set as a brand new IP.
Looking ahead, Sony’s FY26 forecast for Game & Network Services expects sales of ¥4,420 billion (down 5.6 percent) but operating income of ¥600 billion (up nearly 30 percent). In other words, more services revenue, fewer hardware shipments, and presumably no fresh nine-figure Bungie writedowns. PlayStation Monthly Active Users finished FY25 at 125 million, essentially flat year-over-year, with a Q3 holiday peak of 133 million.
