Namco Bandai Doubles Forecasted Fiscal Half Year Results

Namco Bandai has revised its earnings forecast for the first half of the current fiscal year ended September 30, more than doubling its forecasted income thanks to strong video game sales. The company has increased its revenue forecast for the financial half year from ¥178 billion ($2.34 billion) to ¥194 billion ($2.56 billion). In terms of profits, the company is now projecting income of ¥7.8 billion ($102.9 million) for the fiscal half year, compared to its previous forecast of ¥3.2 billion ($42.2 million). The company explained in a statement that the revised figures are down to strong sales of its recent game releases in Japan, such as Tales of Xillia and AKB1/48 If I Loved an Idol in Guam. The new Gundam TriAge series was also cited as part of the revision. Over the summer, Namco Bandai posted results for the fiscal year ended March 31 2011, noting a modest revenue boost and a swing to profit. The Tekken publisher posted profits of ¥1.8 billion ($22.3 million), compared to the ¥29.9 billion ($371.8 million) loss in the previous fiscal year.