Namco Bandai Reports Slowing Arcade Business

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Namco Bandai Holdings announced selected financial results for the third quarter of its fiscal year, ended December 31, 2007. Also, Namco Bandai explained that it is pulling back from the arcade business.
For the quarter, Namco Bandai reported net income of ¥6.735 billion (around $63 million) compared to net income of ¥11.011 billion in the same quarter the previous year.

Operating Income for the "Game Contents" division was ¥5.135 billion compared to ¥7.728 billion in the same quarter the prior year.

Interestingly, Namco Bandai changed its financial projections to reflect its plans to close around one-fifth of its arcades. A company spokesman noted that many arcade-type games could be played at home, implying that the Wii, in particular, was responsible for a downturn in business.

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