Sega Sammy profits plunge yet again

Posted May 12, 2007 at 12:12PM by QJ Staff Listed in: Wii, PS3, Nintendo DS, Xbox 360 Tags: Japan, Pachinko, Sega
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Sega Sammy profits plunge yet again - Image 1Sega Sammy Holdings profits have dropped 34 percent as of the end of their fiscal year this March. The game and pinball company which merged last October 2004 apparently lost money due to the drop in interest at pachinko parlors in Japan. This is bad news.

While the company did not give an exact breakdown of their quarterly earnings. They announced a profit of only 43.5 billion yen (about US$ 363 million) compared to last years 66.2 billion yen (about US$ 550 million). Their quarterly sales dropped by 4.5 percent. Sega Sammy attributed their loss to the 20% drop in pachinko machine sales in the last fiscal year.

They are already projecting a paltry 35 billion yen (US$ 292 million) profit for the fiscal year through March 2008. As expected due to the financial difficulties, shares of the said company went down by 1.5 percent to 2,895 yen (US$ 24).

This is bad news for Sega Sammy since there has been no word whether a turn-around of their situation is expected. Well, given the market they cater to, anything can happen right?

 
 
 

Comments

by - 2007-05-12 15:10:34
Sad for sega...

You know i'm not surprised because their games have really been crap since they went multiplatform, save Virtua Fighter. I'll dust off my genesis and remember the good old days, or play mvc2 on my dc.
by - 2007-05-13 02:48:57
i'm a sony fanboy but

you are wrong about your post: 1. a score of a preview is an absurdity 2.there arent any jak and daxter.(naughty dog produce uncharted now)
by - 2007-05-13 06:09:09
The 360 has lots more exclusives than that

Do some research next time Ycerker you fanboy.

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