Japanese gaming conglomerate Sega Sammy Holdings Incorporated reportedly released its financial results for the twelve months to end March, showing that its net profit fell by 90.7% year-on-year to around $ 14.6 million.
According to a report by Inside Asian Gaming, year-end data dropped by 39.2% net sales year-on-year to around $ 2. 54 billion with a decrease of 76. 3% in related operating income just above $ 76.8 million. The source said this financial data was just over six months after the Tokyo-listed company signed an agreement to offload 85.1%'s stake in its ground-based arcade arm to a local entity Global Entertainment Network for Dreams and Aspirations ( GENDA).
Sega Sammy Holdings Limited is responsible for non-gaming gambling Phoenix Seagaia Resort on a southern Japanese island Kyushu while holding a stake in the 45% Integrated Casino Paradise City in South Korea . This business segment allegedly ran an annual deficit in the region $ 82 million as his receipts discarded at 51. 7% year on year to approx $ 57.7 million due to the devastating effects of the coronavirus pandemic .
Despite this, nosedive and Sega Sammy Holdings Incorporated reportedly announced that it was " we are working to strengthen our ability to attract visitors "At Phoenix Seagaia Resort and intends to continue to accumulate" further integrated development of the resort and operational know-how ”Through the interest in Paradise City.
Yokohama Holdings Incorporated-based Sega Sammy reportedly explained that its pachislot and pachinko machinery business also suffered from a year-on-year drop in net sales of 51% to some $ 485.9 million . The company allegedly stated that the latter crash was due to a contraction in demand triggered by the coronavirus to exit this segment of its business with a deficit at the end of the year of around $ 103.5 million.
However, better news has reportedly surfaced from the entertainment segment of Sega Sammy Holdings Incorporated, which produces home video games and downloadable content, courtesy of 71 .6% net profit year over year to $ 255 million despite the calculation of 23%, sales drop to $ 1. 99 billion . Looking to the future, the Japanese firm allegedly predicted it would improve over the next twelve months and improve its resort business profit by more than 1.06% to hit a $ 128.09 million .
Apparently I have read the statement of Sega Sammy Holdings Incorporated ...
"In the leisure industry the demand for domestic and foreign travel has decreased which resulted in a drastic reduction in the number of tourists due to the impact of the coronavirus and travel restrictions imposed by each country. The business plan for the fiscal year ending March 31, 2022 is based on the assumption that demand will gradually increase throughout the fiscal year despite the impact of the coronavirus. "