Record sales at Koei dampened by financial crisis
Company lowers expectatons for the year.
Koei announced today its nine month earnings results for the period covering April 1 through December 31, 2008. Sales and operating profit was up from the same period the year prior, but the the financial crisis ate into the companies net profits.
Sales for the period stood at 201,810 million yen, up 163 million yen from the year before. This is a new record for nine month results for the company. Operating income was up 968 million yen over last year to 4,527 million yen, but the financial crises affected stocks, leaving the company's net income at a loss of 1,027 million yen, a downward turn of 5,177 million yen from the year prior.
The company's games business saw sales of 137,140 million yen and operating profits of 22,420 million yen. Titles cited for strong performance included Gundam Musou 2, Saihai no Yukue, and Musou Orochi Maou Sairin.
In accordance with these results, Koei issued revised expectations for the full year. As originally announced in May of last year, the company was expecting sales of 30,000 million yen and net income of 6,500 million yen. These are now revised to, respectively, 28,200 million yen and 100 million yen. Outside of the financial crisis, the company blamed a delay in the release of some titles.