Konami To Post Red Numbers

In a shock announcement yesterday, Konami downgraded its projections for the current fiscal year, saying it expects to post red numbers for the first time in years. Earlier projections had predicted a profit of 11.5 billion yen (95.67 million USD), but now the company expects a loss of 27 billion yen (224.63 million USD). The reason for the surprising loss is not to be found within the company's game or arcade divisions, but rather its fitness operations, whose sales were expected to reach 83.5 billion yen (694.68 million USD), but eventually only managed to generate 78.5 billion yen (653.08 million USD) in sales. Total sales for the fiscal year 2002/2003 are now projected at 245 billion yen (2.04 billion USD). The toy and hobby division easily beat earlier projections of sales worth 39.5 billion yen (328.62 million USD), by posting actual sales of 78.5 billion yen (653.08 million USD).

03.22.03 - 2:37 AM
Chris Winkler

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