Bandai Profits Fall

Representatives from Bandai Co. have released the company’s fiscal results for the three months ended June 30. During this period group net profit fell 27% from the same period last year, apparently due to mounting costs for expanding the company’s toy and other entertainment businesses. During the quarter the toy and games publisher achieved ¥2.94 billion ($26.4m) in group net profit. The group operating profit was also down 25% to ¥5.69 billion ($51.0m). Sales however were up by 1.3% to ¥58.86 billion ($527.6m). The company has left its earnings outlook for the full year unchanged at a group net profit of ¥14.8 billion ($132.7m) on sales of ¥280.0 billion ($2.51bn). The firm’s video game software division offset weak performances in other business segments with brisk sales of titles such as Kinnikuman Generations and Super Robot Taisen MX, forcing sales up by 28% to ¥7.63 billion ($68.4m). The division's operating profit rose more than threefold, to ¥516 million ($4.6m). Source: iWon