Capcom warned Thurs. it would report loss for current fiscal year...
Capcom warned Thurs. it would report loss for current fiscal year because of ?23.1 billion one-time charge on sales of its real estate properties, Reuters reported from Japan. Osaka-based game maker said it now expected group loss of ?12.7…
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billion for year ending March 31 instead of earlier anticipated ?3.8 billion profit. Capcom said: “We have decided to sell all of our land and buildings to strengthen our financial footing and to utilize our assets effectively.” Other than special charge, company said sales of its games also were slow in first half of year, although results were in line with demand for games overall in domestic market. Company has been faced with increasing administrative and sales costs, Reuters said. Capcom said, however, it still expected to reach targeted revenue of ?70.5 billion for year on strong results in N. America and new games scheduled to ship in 2nd half. It now expects to report ?17.8 billion loss for first half instead of ?1.1 billion profit it had forecast.