Taito Profits Drop As Console Division Falters

Representatives from Japanese publisher and developer Taito have revealed the company’s full year results to March 31st. During this time, the company’s profits fell by 51.1 percent, with revenues also falling from ¥33 billion ($33m) to ¥1.72 billion ($16m). Sales however were up 1.9 percent. These disappointing results were attributed largely to the company’s home console business, where profits fell by 24.6 percent. The company’s coin-operated machine business continued to perform well, although its various arcade facilities failed to create a return on the company’s investment. Tatio’s new provision of 3D content for mobile phones has proved a success in Japan, though, and in the next financial year the company intends to concentrate on the mobile market, as well as the continued manufacture of arcade machines. Accordingly, work will be scaled back in the console game and karaoke services division. The company clearly does not intend to leave the home console consumer market entirely, though, with the recent announcement of the Taito Memories Vol.1 collection of arcade titles. The wording of the title and the number of prominent titles missing from the twenty-five game strong collection suggests that the company envisages the series as being quite extensive. For the next financial year, the company is predicting that net income will increase 33.9 percent to ¥2.3 billion ($21.7m).