Nippon Ichi has posted a 97.5% decrease in operating profits, and trading in its shares has temporarily been suspended due to their value plummeting 19.34% in a single day.
According to their own financial statements, the company’s performance has been dire:
In the second half of the year, titles like Antiphona and La Pucelle performed drastically worse than anticipated.
Orders for 5 titles last quarter were poor.
As a result, planned development of two titles for release next term has been suspended.
We intend to announce a careful focus on a few select titles.
Due to these results, [and the down-valuing of titles in development by ¥82,000,000] operating profit is now ¥4,806,000, a 97.5% reduction on the same term last year.
Whilst still not making an actual loss (barely), market confidence in the company’s recovery is evidently not high.
With the company reduced to recycling old games onto the PSP and producing risible PS1 era games on the PS3, the future does not seem bright for the once esteemed Nippon Ichi.