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Tecmo Koei revenues fall 14%

By Phil Elliott

Thu 20 May 2010 2:54pm GMT / 10:54am EDT / 7:54am PDT

Merged company's results disappoint as key titles fail to impress

Tecmo Koei has reported its full year financial results noting revenues that were down almost 14 per cent over the previous year - despite the two companies having merged last year.

In total the publisher reported revenues of 34.5 billion ($386 million), while net income was down 7 per cent to 2.6 billion ($29 million).

Sales of its major titles weren't strong, with big hope Ninja Gaiden Sigma 2 only selling less than half a million units, while the delay of other key games - as indicated in the company's Q3 results - also hit income.

However, profit was up somewhat on previous estimates of 2 billion ($22 million), which helped the company's share price to hold steady at 664 ($7.41) when the Tokyo Stock Exchanged closed today.

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