Due to intensifying competition in the home video game market, Sega Enterprises Ltd. on March 13 revised its profit forecast downward and announced it will suffer consolidated and unconsolidated net losses in the 1997 business year ending March 31.
It will be Sega's first loss since listing on the Tokyo Stock Exchange in 1988.
Sega as a parent company will post 39 billion yen worth in net losses, and its pretax profit estimate was changed from 30 billion yen to 11 billion yen, down 63.3 percent. In addition, the leading video game machine maker lowered its estimated sales income from 285 billion yen to 271 billion yen.