Sony is raising the price of PlayStation 5 hardware in Japan

Sony is increasing the price of the PlayStation 5 and certain accessories in Japan.

Breaking the news in a blog post, the company explained the standard PlayStation 5 (complete with disc drive) will now retail for 79,980 yen ($551) in the region. As noted by Reuters, that's an increase of around 20 percent on the previous price of 66,980 yen ($462).

The PlayStation 5 Digital Edition will cost 72,980 yen ($504), which again represents a 20 percent increase on the old 59,980 yen ($414) price tag.

PlayStation accessories will also see a price bump

The updated RRPs will take effect on September 2, 2024, and will also result in consumers paying more for accessories including DualSense controllers, Pulse headsets and earphones, and the PlayStation VR2–the latter of which will soon cost 89,980 yen ($621).

PlayStation 5 hardware has now received multiple price bumps in select markets since launching in 2020, with Sony previously blaming supply issues and inflation rates.

Sony's latest fiscal report indicated PlayStation 5 hardware sales are sliding away. The console sold 2.4 million units during Q1 FY24, down from 3.3 million units in Q1 FY23.

That downturn was offset by an increase in revenue from first-party software sales, although unit sales of first-party titles also declined year-over-year.

Sony is currently forecasting PlayStation 5 sales of 18 million units for the current fiscal year. That would represent a decrease on the 20.8 million units sold in FY2023.