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Konami Warns Of Disappointing Fiscal First Half
by Leigh Alexander [PC, Console/PC]
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November 3, 2009
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Konami is the latest Japanese publisher to reveal a weaker fiscal half year, thanks to poor comparisons with Metal Gear Solid 4's 2008 launch period.
The company says its fiscal half-year sales and profits are down due to a weak release slate, following a forecast reduction by Square Enix and warnings from Nintendo of its first annual profit decline in six years.
In the six months ending in September 2009, Konami saw sales fall 22.5 percent year over year to ¥114 billion ($1.3 billion), while profits tumbled 81.6 percent to ¥2.2 billion ($24.4 million).
The company's up against tough comparisons to Metal Gear Solid 4's release period in 2008, and also says its primary releases are scheduled for the second half of the 2009 fiscal year -- from October 2009 to March 2010.
With all its eggs in the back half basket, Konami didn't adjust its full-year projections, and says it still expects to be able to close out fiscal 2009, which ends for the company on March 31, 2010, following its banner 2008 year.
The company is forecasting ¥310 billion ($3.4 billion) in sales for the year, up just slightly year-over-year -- but expects to come in at ¥16 billion ($117 million) in profits, compared to last year's ¥10.8 billion ($120 million).
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