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Namco Bandai Cuts Forecast, Buys Banpresto
February 23, 2006
Bloomberg is reporting today that Namco Bandai has cut its profit forecast by a whopping 55 percent to 11 billion yen ($93.7 million) for the end of their fiscal year, which comes March 31, 2006. Previously, the company had forecast profits of 24.4 billion yen ($208 million). Namco Bandai blames weaker than expected sales of their Nintendo DS titles.
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Despite the drop in profits, the overall sales for the company only dropped by about 20 billion yen over the previous year, dropping from 470 billion yen to 450 billion yen.
It has also come to light that Namco Bandai plan to buy the remains of already heavily Bandai-controlled company, Banpresto. Namco Bandai plan to fork out 18.3 billion yen ($156 million) to purchase the remaining stock of this company. |
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