Sales and profits up at Namco Bandai
Namco Bandai's earnings and profits rose during the final three months of 2011, despite the strong yen hurting other Japanese videogame companies' finances.
While the likes of Sony and Nintendo have blamed losses on the appreciation of the yen, Namco has reaped the rewards of being far less dependent on exports. The company was named the most successful Japanese publisher of the middle six months of 2011, with a market share of over 18 per cent.
As such it's little surprise to see that almost 85 per cent of the company's third-quarter sales revenue of ¥129.2 billion (£1.05bn) – up 12.8 per cent year on year – came from Japan. Profits rose 47.6 per cent to ¥8.3 billion (£67.5m).
The company's best performers during the quarter were PS3 RPG Tales Of Xillia, which sold 760,000 units, and Mobile Suit Gundam Extreme Vs, with sales of 550,000.
The company has raised its forecasts for the fiscal year ending March 31. It now expects net sales revenue of ¥440 billion (£3.6 billion) and profits of ¥18.5 billion (£150.8 million).