Sony Group Corp. shares rose as much as 12% in Tokyo trading. A strong fiscal-year net profit forecast for the gaming division fueled the rally.
Sony will form a joint venture with Taiwan Semiconductor Manufacturing Co. (TSMC) to produce next-generation image sensors. This partnership targets rising AI demand while limiting capital expenditure.
The company launched a ¥500 billion share buyback program to signal confidence in its valuation.
Sony recorded a $765 million impairment charge related to its Bungie gaming unit. This write-down sparked concerns regarding long-term profitability and investment returns within the gaming sector.