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SEGA cutting jobs, cancelling games, announces big fiscal losses

by rawmeatcowboy
30 March 2012
GN Version 4.0
- earnings and profits for the year ending March 31 will slump
- this is due to underperforming games
- plans to cancel games and streamline its operations
- expecting net sales revenue to be ¥46,000 lower than previously predicted
- net income will be ¥20 billion (£153m)
- loss specifically attributed to "the challenging economic climate and significant changes in the home videogame software market environment in the US and Europe. It is essential to streamline organisations in the field of home videogame software in the US and European markets while shifting to a structure that corresponds to [this] change in environment, including strengthening development in the field of digital content."
- job losses on the way, making for "a smaller company positioned for sustained profitability."
- more focus on reliable, long-running IPs including Sonic The Hedgehog, Football Manager, Total War and Aliens
- predicting "extraordinary" losses of ¥7.1 billion (£54.3m), of which ¥4.9 billion (£37.5m) will be costs associated with its restructure