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SEGA-Sammy Q1 £50m Loss News
Chris Leyton
06/08/2008
Continued doubt over the Pachinko business and global economy causes SEGA to double losses in Q1...
Following a poor performance last fiscal year, SEGA-Sammy today reported a net loss of ¥10.53 billion (£49.84 million) for fiscal Q1 period ended June 30th 2008. During the three-month period SEGA-Sammy recorded net sales of ¥74.60 billion (£353.08 million) compared with ¥95.42 billion (£451.62 million) in the same period last year, leading to an operating loss of ¥10.29 billion (£48.70 million) in contrast to an operating loss of ¥2.43 billion (£11.50 million) in the same period last year.
SEGA-Sammy attributed the poor performance to continued uncertainty surrounding the Japanese economy, blaming the food and fuel crisis for causing global instability. The number of pachinko parlours and players continues to drop, which is a key element to SEGA-Sammy business strategy, as a result of the new legislation forcing models to meet new standards. The sector recorded ¥12.29 billion (£58.17 million) in net sales, resulting in an operating loss of ¥4.35 billion (£20.59 million).
In the arcades SEGA-Sammy continues to report strong demand for large-scale units and cards based systems, resulting in net sales for the section amounting to ¥14.52 billion (£68.72 million) and operating income of ¥703 million (£3.33 million).
The company's amusement centre sector continues to be sluggish, largely as a result of rising oil prices. As a result the company plans to close seven low-performing amusement centres throughout Japan, in an attempt to redcue the losses. Section net sales were Section net sales were ¥17.42 billion (£82.45 million), bringing an operating loss of bringing an operating loss of ¥1.58 billion (£7.48 million).
Equally, the home videogame section reports increased demand due to the rapid increase of PlayStation3, Xbox 360 and Wii. Strong overseas sales of Mario & sonic at the Olympic Games, Iron Man, The Incredible Hulk and Valkyria Chornicles in Japan buoyed the sector, however with many titles slated for release for the second half of the year, the segmented recorded net sales of ¥30.53 billion (£144.50 million), resulting in an operating loss of operating loss of ¥4.12 billion (£19.50 million).
SEGA-Sammy made no further changes to the company's forecasts for the next period of full fiscal year
Anonymous
Date Added:Thu 7th Aug 2008 06:56
PoKeMoNgAmEr3000
Date Added:Tue 26th Feb 2008 22:21
lauzaroo
Date Added:Thu 22nd Nov 2007 02:16
Only had this game since tuesday, but already completely and utterly addicted. I just can't get enough. Amazing graphics, amazing variety of games to compete i... [ Read full comment... ]
lauzaroo
Date Added:Thu 22nd Nov 2007 02:15
Only had this game since tuesday, but already completely and utterly addicted. I just can't get enough. Amazing graphics, amazing variety of games to compete in, a ... [ Read full comment... ]
Anonymous
Date Added:Tue 2nd Oct 2007 13:35
sgt wilco
Date Added:Sat 22nd Sep 2007 10:02
mario/zelda fan
Date Added:Sun 22nd Jul 2007 13:01
EAT
Date Added:Sat 7th Jul 2007 17:21
mario/zelda fan
Date Added:Fri 8th Jun 2007 21:46
mrguy11
Date Added:Tue 5th Jun 2007 00:24