Sega yesterday announced that it expects to be back in the black
this year after incurring a loss in each of the last four years. It
follows a decision by the company to abandon its console business
to concentrate on being a games developer.
Sega said it hopes to double its sales of games to a ¥120
billion (£687 million) by March 2004 from an estimated a ¥62
billion (£355 million) this year and to significantly increase its
operating margin. It is also planning to sell its holdings in more
than 50 other businesses to reduce its substantial debts.
Sega is now developing games for Nintendo and Microsoft
consoles.
