Bandai Releases Financial Results for FY2004/05
05.10.05 - 9:03 PM
Bandai has released its financial results for the fiscal year 2004/05. The company, which will merge with Namco in September, posted a consolidated net profit of 11.23 billion yen ($106.33 million US) on sales of 269.95 billion yen ($2.56 billion US). While this translates to a 2.9% increase in sales, profit decreased by 21% compared to the fiscal year 2003/2004. Bandai cited a lack of demand for its products on the North American market as the main reason for the declining profit.
For the current fiscal year, Bandai projects sales of 285 billion yen ($2.70 billion US) and a net profit of 15.5 billion yen ($146.75 million US).