Sega Sammy raised it’s full-year forecasts following strong game sales in its most recent quarter.
The company released its results for the nine months ended December 31, including overall sales of ¥236.8 billion ($2 billion), up 12.6% year-on-year.
Operating and ordinary income more than doubled during that time; operating rose 141.5% to ¥32.6 billion ($281.6 million), while ordinary was up 165.6% to ¥33.4 billion ($288.5 million).
Profit attributable to owners of parent was reported as ¥29.5 billion ($254.8 million). For the same period last year, it was a loss of ¥6.2 billion ($53.5 million)
Sega’s Stock Price did not move after the earnings announcement as Japan’s Stock Market is closed for a holiday. The Investors will be able to buy or sell the Stock again on Monday.
This quarter saw sales of new games reaching ¥13.1 billion ($113.1 million), with back catalogue titles contributing ¥6.5 billion ($56.1 million).
This was roughly on par with the previous quarter (three months ended September 30, 2021). New game sales were recorded at ¥13 billion ($112.3 million), with sales of back catalogue at ¥6.7 billion ($57.9 million).
For the nine-month reported, Entertainment Contents’ overall sales were up 6.1% to ¥177.9 billion ($1.5 billion). Ordinary income was reported as ¥36.8 billion ($317.8 mllion).
Other segments at Sega Sammy — including its pachislot/pachinko and resort businesses — also improved, due in part to lulls in COVID-19 concerns and the lifting of Japan’s state of emergency back in September.
As a result, the company revised its forecast for the full financial year. Sega Sammy now expects sales to reach ¥315 billion ($2.7 billion), as opposed to the previous forecast of ¥305 billion ($2.6 billion).
Operating income is expected to rise from ¥23 billion ($198.6 billion) to ¥31 billion ($267.7 million), with ordinary up from ¥21.5 billion($186.7 million) to ¥30 billion ($259.1 million).
Furthermore, Sega Sammy estimates profits will reach ¥26.5 billion ($228.9 million), up from the ¥15 billion ($129.5 million) previously forecast.