Net Income Now Expected at ¥33 Billion
There is good business news to report on behalf of Sega. The mothership, Sega Sammy Holdings, released revised earnings guidance for the 2013 fiscal year on Friday. The big news out of the release is that, according to the statement, “net income for the fiscal year ended March 2013 is expected to significantly surpass the previously publicized forecast.”
Specifically, Sega Sammy now expects bottom line profits for the year of ¥33 billion, or more than $338 million, on sales of ¥321.4 billion. That compares to an earlier forecast of a ¥12.5 billion profit on sales of ¥320 billion.
An accounting trick stemming from the liquidation of one of Sega Sammy’s US subsidiaries–not Sega of America, as far as we’re aware–is behind much of the change. Said trick will save the company ¥14.5 billion this fiscal year.
We should have the final, full facts and figures from Sega Sammy’s FY2013 earnings in a couple of weeks. We will be sure to share and analyze the data with you once it is made available. The bottom line for you is that sales are slightly up, profits should be way up, and Sega Sammy as a whole appears healthy again.