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More bad news for Capcom
Topic Started: Mar 30 2004, 01:16 PM (83 Views)
Ayane
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Capcom's Profit Forecast Plunges
By David Smith
3/30/2004

Capcom's financial fortunes took a drastic turn for the worse today, as the publisher announced a substantial revision in its earnings forecast for the fiscal year ending March 31. While it once expected to turn a profit of 4.2 billion yen ($40 million), Capcom is now looking forward to a loss of 9.4 billion yen ($89 million) on the year.
Capcom's announcement attributes the loss to a variety of factors. It recently liquidated two subsidiaries -- Stratus, a Japanese insurance and financial services company, and Capcom Coin-Op, its already-defunct North American arcade operation company. Capcom also cut its worldwide sales forecast for the year by 19%, ostensibly due to delays in the shipment of key North American titles, although the only North American Capcom release recently delayed out of the current fiscal year was Mega Man Anniversary Collection.

Capcom's financial situation has already spurred internal reorganization, including the downsizing of some internal development studios and the spinning-off of other development staff into its new Clover Studio subsidiary. We'll continue to follow more developments as they arise.

Source: http://www.1up.com/article2/0,2053,1557761,00.asp
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