Sony and Capcom Take Heavy Annual Loses
Sony and Capcom are perhaps two of the most well-known video game publishers in Japan. But in keeping with a recent trend of Japanese companies taking huge financial hits, Sony and Capcom have been and will continue to go on a downward spiral if things don’t shape up soon.
This is likely why Sony announced a switchover in leadership, which will hopefully facilitate the idea in promoting an updated business model that will hopefully allow Sony to head upwards from what is expected to be a $2.9 billion annual loss.
Speaking to Reuters, Kim Young-Chan, an analyst at Shinhan Investment Corp in Seoul seems inclined to agree:
“It won’t be easy for Sony to regain its lost ground under new leadership, as its overall competitiveness has sharply weakened. It’s got structural problems that will take years to fix. “It’s not just Sony but Japanese IT firms have similar problems. They are failing to innovate and produce industry-leading products in almost every major area from TVs to displays, tablets and smartphones.”
Young-Chan’s comments on the Japanese tech industry at large can also be applied to video game publisher Capcom, who have just reported that sales for the 2011 fiscal year have decreased dramatically by 29% and that their operating income is down 47.2%.
Evidently, Spongebob first tried burying his money, then shredding it, and burning it, but he eventually decided to just give it away to his costumers.
Hopefully, both Sony and Capcom prove to not be quite as ridiculous with their business antics, otherwise, like ‘Pretty Patties’ they may just go under.
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