Sega Sammy closes Sega Korea
Posted by Chris. Filed under News. Tagged with Financial.
It looks like Sega Sammy’s financial fallout isn’t through yet as the company announced the dissolution of Sega Korea today. According to financial documents, the reason is for “global business optimization,” and Sega Sammy claims the move will “have no significant impact on the company’s consolidated operating results.”
What’s more is that Sega Sammy also announced the closure of Sammy Europe Limited late last month. After the recent news that the company is abandoning plans for an amusement park near Tokyo despite investing a significant amount of money, it’s clear its trying to cut its losses and stem any more blood flow as soon as possible.
All this is a result of Sega Sammy’s most recent financial report where it disclosed that it lost nearly $250 million last year. Soon after that announcement, Sega Sammy laid off more than 400 employees and closed more than 100 arcades.
[Thanks, Cube_b3!]
Comments on this article
There have been 3 responses to this article.
I am just glad that Sega isn’t the only one losing there subsidaries finally Sammy decided to cut one of there own…
cube_b3
Posted March 30th, 2008 at 2:27 am.
>>>???<<<
Sega Korea! never heard of it…
Regards-Alimn
Alimn
Posted March 30th, 2008 at 1:00 pm.
Call me crazy, but despite strong sales throughout the first quarter, I have a feeling the video game industry might be bit by the recession bug.
udx
Posted March 30th, 2008 at 11:15 pm.