Close
Report Comment to a Moderator Our Moderators review all comments for abusive and offensive language, and ensure comments are from Verified Users only.
Please report a comment only if you feel it requires our urgent attention.
I understand, report it. Cancel

Finance

Namco Bandai records nine month loss of $129m

Tue 02 Feb 2010 11:48am GMT / 6:48am EST / 3:48am PST
FinancePublishing

Company proposes drastic restructuring after "severe" market conditions

Bandai Namco Partners

The Bandai Namco Group conducts its business in a wide range of fields in entertainment markets around...

namcobandaipartners....

Namco Bandai has recorded a loss of 11.7bn (81.3m / $129.5m) for the nine months ended December 31, compared to a 9.01 billion (62.3m / $99.4m) profit for the same period last year.

Net sales at the publisher were down 10.4 per cent, from 315 billion (2.1bn / $3.4bn) to 282 billion (1.9bn / $3.1bn), with a decrease in operating income of 76.3 per cent, down to 4.7 billion (32.6m / $51.9m), from 19.8 billion (137.2m / $218.8m) last year.

"The Namco Bandai group generally faced an uphill battle in the first nine months of the fiscal year... during which market conditions for the group remained severe, despite steady results achieved in sales of long-established character toys in the Toys and Hobby business and arcade game machines in the Game Contents business," said the company.

"In the Game Contents business in particular, sales fell below projections given weak market conditions for most of major home game software titles except Tekken 6, the largest title released in the current fiscal year, leading to weak results for the segment."

Full year projections have been downgraded, with the company expecting a loss of 31 billion (214.79m / $341.94m), with sales down to 380 billion (2.6bn / $4.1bn).

The company has announced a Group Restart Plan, aimed at breathing life back into the business, at the cost of over 600 jobs, more details of which can be read here.

Login or register to post

Take part in the GamesIndustry community

Register now