SEGA Reports Significant Decrease in Net Sales During First Quarter of FY2016
SEGA‘s recent financial performance has been far from positive. The company has reported a 41.2 percent decrease in net sales in the first quarter of the current fiscal year as sales earnings dropped to ¥52.9 billion ($426 million). SEGA also reported an operating loss of ¥9.5 billion ($76 million), and a net loss of ¥7.9 billion ($63.8 million).
The company blames global economies for its negative performance alongside other contributory factors such as a decrease in demand for video game software, amusement centers, and amusement machines in Japan. The report states:
The economy still remained in the condition requiring further time for full recovery due to uncertainty towards a downswing in overseas economies arising from factors such as the slowdown of growth in the economies of emerging countries and European debt crisis.
However, SEGA believes the Japanese economy is gradually recovering, thanks in part to better corporate performances and employment situation as a result of monetary and fiscal policies.
For the full report, click here.