Ayanami III
09-27-2002, 05:50 PM
http://xengamers.com/sections/news/8729/
Cacpom Outlook Bleak
Capcom revealed today that the company expects to post losses of
approximately 12.7 billion yen ($103 million) for the fiscal
year ending March 2003. This stands in stark contrast to the 3.8
billion yen profit the company initially forecast. Speaking about
the dramatic reversal, a company spokesperson blamed losses on
an extraordinary loss of 23.1 billion associated with the
company's real estate holdings. It's believed Capcom has begun
liquidating several assets including corporate offices in order
to boost cash reserves. Aside from the devaluation of real estate
holdings however, Capcom also blamed poor sales and increased
operating expenses on its reversal of fortune. While news of the
company's revised projections was released after the close of
trading in Japan, rumors of the announcement sent shares in the
company down nearly 3 percent on the Tokyo exchange.
Cacpom Outlook Bleak
Capcom revealed today that the company expects to post losses of
approximately 12.7 billion yen ($103 million) for the fiscal
year ending March 2003. This stands in stark contrast to the 3.8
billion yen profit the company initially forecast. Speaking about
the dramatic reversal, a company spokesperson blamed losses on
an extraordinary loss of 23.1 billion associated with the
company's real estate holdings. It's believed Capcom has begun
liquidating several assets including corporate offices in order
to boost cash reserves. Aside from the devaluation of real estate
holdings however, Capcom also blamed poor sales and increased
operating expenses on its reversal of fortune. While news of the
company's revised projections was released after the close of
trading in Japan, rumors of the announcement sent shares in the
company down nearly 3 percent on the Tokyo exchange.