Despite the ongoing stock shortages, the launch of the PS5 was a hugely successful one for Sony. The Japanese giant is expected to report an annual net profit of around ten billion dollars when it releases its annual report at the end of next month; which would make it one of the company’s most successful years to date. While this is undoubtedly great news for the company’s shareholders, it will also be welcomed by its Japanese staff, who now find themselves in line for a huge cash windfall thanks to the console’s early success.
The PS5 has had no trouble breaking records. Earlier this month, a report from the the NPD Group revealed that the PS5 is now the fastest selling console in US History over its first four months on the market. Given that it continues to sell out quickly whenever new stock is made available, more records like this are likely to follow.
According to the Japanese state broadcaster, NHK, the tech giant has agreed to pay its domestic employees an annual bonus equivalent to seven month’s salary, largely due to the strong performance of the PS5. For most employees, this will equate to payments worth tens of thousands of dollars on top of their regular monthly wages. For some of those in upper management, however, that number could very easily rise into the six digit range.
Large bonuses like this are not all that uncommon in Japan, with most companies rewarding their employees with payments equivalent to several month’s wages every April when the Japanese financial year comes to an end. What is a little surprising though, is both the sheer size of the bonuses and that Sony has agreed to pay more than what the workers’ union had requested during earlier bonus negotiations.
Things may be looking good for Sony financially, but the continued stock shortages of the company’s latest console look set to continue for the foreseeable future. As well as the ongoing scarcity of GPUs and other components, the current situation in Egypt may also have an effect. Recent reports suggest that the blockage of the Suez canal will further damage supply of PS5s, although how badly it does so remains to be seen.
Things haven’t been going quite so well for the system in its domestic market of Japan, however, with Sony opting to limit PS5 stock in Japan in order to instead focus on maximizing sales in the west. Although the strategy is one that has not gone down too well with some Japanese gamers, it’s clearly paying off for the company financially; as evidenced by its huge profits and the record-breaking bonuses for its staff.
Source: NHK
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