Sega Sammy Holdings Reports Annual Profit

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Sega Sammy HoldingsSega Sammy Holdings announced its financial results for its fiscal year ended March 31, 2010:
For the year, Sega Sammy reported net income of ¥20.269 billion (around $220 million), compared to a net loss of ¥22.882 billion in the previous year. Much of the company's income comes from pachinko (and pachislot) gambling devices as well as amusement centers (arcades). Arcades saw and continue to see difficult times.

More importantly to FI readers, Sega Sammy noted that video game demand remained weak in the United States and Europe. The company decided to close its North American developer Secret Level "in view of the changing business environment in overseas game software markets." This appears to mean that Sega Sammy is looking at games with shorter development cycles and more online social presence in addition to ports of Japanese games.

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This page contains a single entry by Editor published on May 14, 2010 9:22 PM.

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