Sega Sammy Doubles 1H Profit Forecast to 18 Bln Yen (Update1)
Sept. 29 (Bloomberg) -- Sega Sammy Holdings Inc., Japan's largest maker of toys and video games, doubled its fiscal first- half profit forecast to 18 billion yen ($159 million), citing rising sales of higher margin products.
The Tokyo-based company, which was formed when pachinko slot- machine maker Sammy Corp. bought Sega Corp. last October, also raised its forecast for pretax profit from operations for the six months ending Sept. 30 by 50 percent to 42 billion yen, according to a statement filed to the Tokyo Stock Exchange.
Rising sales of higher-margin gambling machines helped push up profit, the statement said. Sega Sammy raised its sales forecast 2 percent to 243 billion yen. The company is reviewing its full-year earnings forecasts and said it will provide more details in late November.
