Sega Loss

Sega Enterprises is reporting its third annual loss in a row. Though the company saw an increase in revenues of better than 27 percent, Sega still posted a group loss of $398.1 million. This loss nearly the same as Sega's loss last year, and is in line with analyst's predictions after Sega issued a profit warning in February. As expected, Sega President Shoichiro Irimajiri will resign his post and be replaced by CSK Chairman Isao Ohkawa. "We accepted Irimajiri's request to resign to take responsibility for the losses," Ohkawa said, "We aim to revive the company by focusing on growing Internet-related services by using Dreamcast."