Konami Raises Full Year Forecast

Representatives from Konami have announced that the company’s quarterly profits have fallen 4% year-on-year, but that full year profit forecasts have been raised by 38% - largely as a result of the continued popularity of its Yu-Gi-Oh! and Winning Eleven/Pro Evolution Soccer brands. In the three months ending December 31, net profit fell 3.9% year-on-year to ¥8.04 billion ($75.8m) , despite a 5.3% rise in sales to ¥82.3 billion ($776.1m). The company’s net profit forecast, however, is now ¥20 billion ($188.3m) for the year ending March 31, from a May forecast of ¥14.5 billion ($136.7m). Revenue estimates were also raised by 4.3% to ¥267 billion ($2.5bn). Last year the company posted a net loss of ¥28.5 billion ($268.8m) on revenues of ¥253.7 billion ($2.4bn). Source: Reuters