Kodansha Ltd. fell into the red for the first time since World War II in the year through Nov. 30, due to weakening magazine sales, a company spokesman said Friday.
Japan’s largest publisher, based in Tokyo, incurred a parent-only net loss of 16 million yen, having logged a profit of 776 million yen the previous year.
Sales fell 3.2 percent to 171.2 billion yen in the reporting year, primarily due to a 4.6 percent decline in sales at the firm’s magazine division, which makes up the bulk of overall sales.
“Magazine sales generally weakened, but falls were especially severe in the sales of comics for boys,” the spokesman said.
Kodansha was established in 1909 and is an unlisted firm.
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