Tomy blames Nintendo for shortfall

Tomy has cut its annual net profit forecast by two-thirds, blaming weak demand for toys as consumers spent more on Nintendo’s new consoles.
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According to reports the firm said it now expects to post a group net profit of 1.7 billion yen ($14 million) in the year to March, down from its previous forecast for a 5 billion yen profit.

It said sales of character goods and card games for boys were sluggish in Japan because of the success of Nintendo's DS handheld game device and its next-generation Wii console (pictured), which has impacted demand for traditional toys.

The company left its sales forecast unchanged at 170 billion yen.



Tomy and Takara to merge

Following hard on the heels of the Bandai and Namco deal, Takara and Tomy are now expected to join forces, with a merger expected at the end of the year.


Tomy sells off stake

Private equity firm Texas Pacific Group has acquired a 14.07 per cent stake in Tomy becoming the firm’s second-largest shareholder.

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