Speaking to Reuters Japan this week (via Hachimaki), Sony Computer Entertainment President Kaz Hirai described the PlayStation Network as “in the red” but believed that it would turn a profit during the next fiscal year.

According to the report, PSN sales during the 2009 fiscal year added up to 36 billion yen (approx. $434.3 million USD). That number “nearly doubled” in 2010. However, Hirai said “we’re aiming to enter the black during the 2011 fiscal year.” Furthermore, he projected that PSN sales would reach 300 billion yen ($3.6 billion) in the 2012 fiscal year. He cited the number of registered PSN accounts (60 million as of November) as evidence of the service’s growth.

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