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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60584)	2/15/2002 2:53:00 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Konami Shares Fall 14% on Concerns About Lower Profit (Update2) By Hiroshi Suzuki quote.bloomberg.com Tokyo, Feb. 15 (Bloomberg) -- Konami Corp.'s shares plunged 14 percent on concern earnings may fall further in the next fiscal year after the company reduced its profit forecast for the year ending March by 23 percent. The shares fell by their daily limit of 400 yen to 2,510. They were untraded for most of the day on an imbalance of bids and offers and were allocated among investors by the Tokyo Stock Exchange at the end of trading. The company lowered its profit goal after the market closed yesterday. The maker of video-game software for Sony Corp., Nintendo Co. and Microsoft Corp. reduced its forecast because of declining sales of its Yu-Gi-Oh! card game. Except for ``Metal Gear Solid 2: Sons of Liberty,'' Konami has few video-game titles that could drive profit growth in the next fiscal year, analysts said. ``No big hits are expected among Konami's games in the next fiscal year,'' said Ken Uryu, an analyst at Merrill Lynch Japan Inc., who cut his long-term recommendation for Konami shares to ``Neutral'' from ``Buy.'' The Tokyo-based company expects net income of 13.5 billion yen ($102 million) for the year ending March 31, down from its earlier estimate of 17.5 billion yen, after consumers lost interest in the card game, which was introduced three years ago and once generated a third of sales. Konami also cut its sales forecast for the Yu-Gi-Oh! card game to 19 billion yen for the year ending March 31 from its earlier estimate of 22 billion yen, said Konami's director Toshiro Tateno. A year earlier, Yu-Gi-Oh! sales totaled 54 billion yen.