Sega Reports Dramatic Financial Decreases In First Quarter FY2016
Sega’s first quarter of the current fiscal year is covered in red. The company reports dramatic decreases in sales, with operating and net income both plummeting into negative territory.
Net sales dropped 41.2 percent to ¥52.9 billion ($426 million). Operating losses were ¥9.5 billion ($76 million), net losses were ¥7.9 billion ($63.8 million).
Sega still plans to run operating and net surpluses for the full year ending March 31, 2016. The publisher attributes the losses to decreased demand in Japan for game software, amusement centers, and amusement machines.
Sega is still in the midst of righting the ship after suffering significant sales decreases and staffing cuts in 2015. The company is in the process of moving out of its long-time San Francisco location in favor of offices in southern California.