Officials from Japanese video game and arcade developer Atlus have announced the company’s full year financial results, for the period ended March 31st. During this time the company made a net loss of ¥23 million ($0.22m), down from a profit of ¥37 million ($0.35m) the previous year.
Sales were up 4 percent, although none of the company’s games, including Digital Devil Saga: Avatar Tuner 2 and Duel Masters 3, managed to meet sales targets. As a result the company’s console game division saw an operational loss of ¥36 million ($0.34m).
The huge cut in profits was attributed to rising development and marketing costs, with the cost of PC title Shin Megami Tensei Online being singled out as a particular burden on the company’s resources.
The company expects to make a net loss in the next business year of ¥380 million ($3.6m), as a result of continued investment in new operations and the setting up of new amusement operations.
As a result Atlus will produce less consumer titles, resulting in the redundancy of 30 employees – approximately 10 percent of the company’s workforce.