Bandai Releases Financial Results for First Three Quarters of FY2004/05
02.08.05 - 3:54 PM
Bandai has reported its financial results for the first three quarters of the current fiscal year ending on March 31st. Compared to the same period of the previous fiscal year 2003/2004, sales and profit have declined, as the company posted a net profit of 9.45 billion yen ($90.14 million US) on sales of 192.69 billion yen ($1.84 billion US). The main reason for this decline was the lack of major game releases in Japan and abroad. Bandai is releasing most of its major titles during the current (fourth) quarter. Furthermore, development costs have been higher than expected.
For the full 12 month period ending on March 31st, the company projects sales of 280 billion yen ($2.67 billion US) and a net profit of 14.2 billion yen ($135.44 million US)