Sega Profits Drop 50%; Sammy Increases 700%

Fiscal results for the first fiscal quarter ended June 30 have been announced for Sega Corp., with the Japanese publisher and developer experiencing a 50% drop, compared to the same period last year. Group net profit fell to ¥932 million ($8.4m) and sales also fell by 1.4% to ¥41.80 billion ($374.8m). Sega officials claim that the results were actually better than expected, with both the arcade and consumer video game segments “going well”. The company reaffirmed its forecast for the full year, of a profit of ¥8 billion ($71.7m) on sales of ¥204 billion ($1.8bn). By comparison Sammy, who Sega are due to merge with in October, recorded a sevenfold surge in net profit of ¥21.42 billion ($192.1m). Sales more than quadrupled to ¥109.7 billion yen ($983.7m). Source: Associated Press