Konami financial forcast predicts 82% drop in profit

Konami released its financial forecast for the year up to September 30 and the publisher predicts that profits for the remainder will drop 82 percent compared to last year.

The company expects to accrue ¥114 billion ($1.26 billion) in revenue, down 22.5 percent on the same period in 2008, with net income to come in at ¥2.2 billion ($24.3 million), down from ¥12 billion ($132.8 million) last year.

Konami attributes the results to a "quiet release period", with most of its major titles launching in the second half of its fiscal year.

"Even though the figures for the consolidated business performance for the six months ended September 30, 2009 were approximate to the projected ones in all segments," read the financial paper, "net revenues and profits of the consolidated interim results are expected to decrease when compared with the figures corresponding to September 30, 2008, mainly due to factors such as the fact that main titles released by our Digital Entertainment segment for the current fiscal year were not scheduled to be released until the second half of the year while in the same period last year major titles, in particular, Metal Gear Solid 4: Guns of the Patriots, had already been released."

Silent Hill: Shattered Memories and Pro Evo 2010 are expected to help things out a bit, as well as next year's Castlevania: Lords of Shadow and Metal Gear Solid: Peace Walker.

Thanks, GI.biz.