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jarrod on 09 February 2010
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Losses, cancelations and stock freezes!  Oh My!

Things are looking grim for the house that Prinny built...

 

Nippon Ichi are having trouble with getting extra orders for many of their titles. In Q3, titles such as "Antiphona no Seikahime" and "La Pucelle Ragnarok" sold significantly less than expected. 

A further 5 original titles are scheduled for Q4. As of Feb 5th, initial shipments are much lower than expected (Note: of these 5 titles, only Last Rebellion has been released).

Nippon Ichi has stopped development of 2 titles which were planned for the next fiscal year. This alone has resulted in a loss of 80 million yen.

Earnings forecast revision for the fiscal year ending March 2010: [millions of yen]
Net Sales: 2,721 -> 1,891
Operating Income: 112 -> -268 (loss)
Recurring Income: 89 -> -259 (loss)
Net Profit: 53 -> -358 (loss)

 

The company's closing price on the JASDAQ (Japanese NASDAQ) was ¥36,200 on Friday. When the market opened this morning, and investors began reacting to Nippon Ichi's financial statement, the stock price ultimately dropped ¥7,000 (US$78) as the stock was unloaded. With the stock's value dropping almost 20 percent, the JASDAQ put a freeze on the price so it could not slide any further south.