Sega fails to meet reduced financial forecast

Sega has revealed that it did not do as well financially as it expected – even with a a reduced fiscal predictions.

The firm announced it made ¥154.3bn in net sales (£827m) which is down 1.1 per cent on the firm’s previous reduced expectations for the six months ending September 30th 2015.

In September, Sega lowered its revenue expectations 22 per cent, from ¥200bn to ¥156bn. Its revenue for the first half of the fiscal year was in fact 2.2 per cent lower than the same period in 2014.

Meanwhile in terms of profit, Sega made a ¥2bn loss year-on-year. For the six months ending September 30th 2014, the publisher made ¥2.8bn (£15m). This year, that figure is only ¥964m (£5.2m).

Our sister-site MCV has the full story.