As I mentioned before, Takashi Mochizuki is strangely inattentive to details for a business journalist. How is the PlayStation segment “robust” when:
- YoY operating income increase came completely from exchange rate gain
- YoY sales decrease would’ve doubled without exchange rate gain
Yes, PS5 sold more units than Switch 2 in Q3, but that’s a pyrrhic victory through discounts that caused an “increase in losses from hardware”, leading to an anemic 8.73% operating profit margin (in PS5’s year 5). And yet Mochizuki called that “surprisingly strong”, but Nintendo’s 19.2% margin (in NS2’s year 1) “concerns”.
This is also a reminder that Mochizuki remains the lone source reporting that PS5 achieved breakeven in Aug 2021, even though AFAIK Sony never made such claim. Since then, in fact, losses from hardware were mention in:
Oct ’21
Feb, May, Nov ’22
Apr, Nov ’23
Feb, May, Aug ’24
Feb, Nov ’25
and now in Feb ’26
[Originally posted on 2026-02-05 Pacific Time]
