Shares Sony Tokyo’s Group (TYO), is down more than 3 percent today, after Tokyo Stock Exchange reported its results from FQ4.

Sony earned a profit in March 31st of 138.6 Billion Yen ($1.06 Billion), an increase of 66.5 billion Yoen from the previous year, but still below consensus estimates at 147 billion.

The company’s earnings in its gaming and network services segment nearly tripled in the quarter to 55.6 billion yen. Sony anticipates that profits in this segment will fall by 12% due to its plans for significant investments into game development and acquisitions.

Sony also announced a 200 billion dollar share repurchase program for the twelve-months to stop dilution of stock options compensation plans.

Following strong consumer demand, Sony announced plans to ship 18 million PlayStation 5 consoles this fiscal year. This is more than twice the company’s Q4 operating profit.

Sony, however, stated that the target production might be changed if China’s new restrictions on coronavirus imports are implemented.

Hiroki Totoki, Sony CFO at a briefing said that “What I can now say is that we are able to procure enough components to make 18 million units.”

Sony sold 11.5million consoles in 2011 as it was unable to increase its sales volume due to supply shortages caused by coronavirus.

Sony’s iconic PlayStation consoles are used by the company to increase its sales via video games and subscriptions. Sony also moved away from televisions and TVs, and shifted its focus to software.

Bungie, the creators of games such as Halo and Destiny, was purchased by Sony in February for $3.6 Billion.

New York-listed Sony’s (NYSE:), price dropped nearly 1% on Tuesday pre-open.

By Senad Karaahmetovic