Mixed bag for Bandai - ToyNews

Mixed bag for Bandai

Strong sales of games and consoles override a decrease in toy profits.
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Bandai Namco’s group net profit fell in the April-September half, as it booked costs to consolidate its video game business units.

The firm posted a group net profit of Y8 billion, down from Y11.01 billion a year earlier.

The firm also attributed the drop to higher depreciation costs and a large windfall from stock sales in the year-earlier period.

However, revenue nudged up 3.3 per cent to Y213.52 billion from Y206.64 billion.

Bandai said strong sales of games for the PlayStation 2 and Wii game consoles more than doubled its operating profit from its video game business in the period from a year earlier. This helped offset a decline in profits from its toy operations.

The firm also said it would launch tender offers for Bandai Networks, which sells content for mobile phones, and Bandai Visual, which produces films and anime.

It said it would pay Y60,300 for each Bandai Networks share, 34 per cent more than its last closing price of Y44,900. It would also pay Y287,000 per Bandai Visual share, a 31 per cent premium to the firm’s Y219,000 closing price.

For the fiscal year through to March, Namco Bandai maintained its targets for group net profit of Y26.5 billion on revenue of Y480 billion.

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