Namco Posts Financial Results
05.21.03 - 6:27 PM

Namco released its financial data for the fiscal year 2002/2003 today. Consolidated sales were up by 1.7% compared to FY2001/2002, thereby reaching 154.8 billion yen (1.33 billion USD). Compared to the previous term, the company managed to double its consolidated profit to 4.1 billion yen (35.14 million USD). The home game software division performed well, as Namco sold 12.33 million units of software. Among the best performing titles were Tales of Destiny 2 and Taiko no Tatsujin in Japan as well as Tekken 4 in Europe.

For the current fiscal year, Namco projects sales of 164.8 billion yen (1.41 billion USD) and a consolidated net profit of 5.8 billion yen (49.71 million USD). For the company's 50th anniversary year (FY2004/2005), Namco president Kyushirou Takagi even aims for sales of 188 billion yen (1.61 billion USD) and a net profit of 10 billion yen (85.70 million USD). More details will be released on a strategy meeting scheduled for next week.

Last but not least, Namco also commented on the proposed merger with Sega, which was withdrawn earlier this month, after Sega failed to meet a deadline set by Namco. Nonetheless, Namco would closely watch Sega rebuilding itself on its own. According to Takagi, for Sega to increase its market share in North America and Europe they would have needed a partner, however since they chose to go it alone, he now wants to see Sega re-build themselves.

Chris Winkler

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