Sony Interactive Entertainment has recorded a ¥120.1 billion ($765 million) impairment loss related to its Bungie subsidiary for the fiscal year ended March 31, 2026. This follows an initial ¥31.5 billion charge in Q2 due to Destiny 2's underperformance, with an additional ¥88.6 billion in Q4 encompassing Bungie's overall title portfolio, including the recently launched Marathon.
Marathon, Bungie's extraction shooter that entered early access in early March, saw an initial peak of 88,337 concurrent Steam players. Current live player counts stand at around 4,700, reflecting a significant drop-off. Sony notes strong player reception and high retention metrics but acknowledges the studio's outputs have not met financial expectations. Destiny 2 continues to contribute to the downward trajectory.
Game & Network Services operating income for Q4 fell 41.6% year-over-year to ¥54.1 billion ($345 million), impacted by the impairment. Full-year G&NS income rose 12% to a record ¥463.3 billion ($2.9 billion), buoyed by network services growth and 125 million monthly active users. Sony acquired Bungie for $3.6 billion in 2022 as part of its live service expansion.
Looking ahead, Sony forecasts FY26 G&NS revenue down 6% to ¥4.4 trillion with operating income up 30% to ¥600 billion. The Bungie impairment adjusts asset values accordingly. These metrics indicate a recalibration in progress.
