Konami’s Yu-Gi-Oh spells profit – MarketWatch

TOKYO (CBS.MW) — Supported by the huge success of its “Yu-Gi-Oh” trading card games, Japanese game software maker Konami is likely to post robust profit this year, according to a published report.

Konami is expected to report a net profit of 8.3 billion yen ($69 million) in the fiscal year through next March, the New York Times reported Monday, citing Zachary Liggett, an analyst for WestLB Panmure Securities.

The figure is 18.5 percent higher than the company’s own forecast in May of 7 billion yen profit. Konami reported a profit of 13.6 billion yen in the business year ended March 31.

Konami’s shares (9766) rose 2.2 percent 2,995 yen. The stock is up 35 percent since early August, when it hit a year-to-date Tokyo low of 2,160 yen.

Last Monday, Konami’s American Depositary Receipts
debuted on the New York Stock Exchange. The ADRs jumped 5 percent Friday to $23.90, ending the week down 7.5 percent.

Yu-Gi-Oh, which translates as “Game King,” is based on a Japanese comic book series. The story centers on a boy named Yu-Gi who fights virtual monsters whose powers derive from an ancient “millennium puzzle” that his grandfather helps him solve.

Yu-Gi-Oh cards, which show monsters and the exotic weapons used to battle them, debuted in the U.S. earlier this year and are riding a wave of popularity, according to the Times report. The game has surpassed Pokemon in popularity in the U.S., the report said, citing Comics and Games Retailer magazine.

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Tops in game software

Konami is also performing well at home. In terms of sales in Japan, Konami became the country’s No.1 game software maker in the April-September period on a domestic sales basis, surpassing the industry leader Nintendo
according to the Enterbrain magazine.

Konami, which ranked No.2 a year ago, sold 3.2 million copies of its games between April and September, thanks to solid sales of “World Soccer Winning Eleven6” designed for Sony’s
PlayStation 2 machine, said Enterbrain.

The figure surpassed the 2.4 million games sold by Nintendo, which suffered from weak demand for its “Super Mario Sunshine” title. Bandai
took the No.3 spot, selling 1.7 million copies, the magazine said.

View more information: https://www.marketwatch.com/story/yu-gi-oh-spells-profit-for-konami-report-says

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