Bandai Expects Record Full Year Profits

Officials from Japanese toy maker and games publisher Bandai have reported a 5% drop in the company’s first half net profits, in the period ended September 30. Consolidated net profits fell from ¥7.1 billion ($6.4m) last year to ¥6.7 billion ($6.1m). The drop was blamed on low demand for the company’s video games and losses at its subsidiaries. However, the company’s sales and operating profit grew by 5%, putting it on track to achieve its full year target of ¥14.2 billion ($12.9m) in net profit, on sales of ¥255 billion ($2.3b) – a record for the long standing company. These largely positive results will dampen rampant speculation that the company will be acquired by Nintendo, who recently bought additional shares in the company. However commenting on international sales, which rose to account for 20% of total sales, spokesman Takeo Takasu commented that, "We are also willing to make any mergers or acquisitions overseas to strengthen our global operations.”