Konami reports profits

TOKYO-- Konami reported today that it has made a profit of 10.86 billion yen ($100.3 million) in the first half of its fiscal year, between April and September 2003. Its income has increased by 149 percent compared to the same period last year, when the company made 4.3 billion yen ($39.7 million).

Konami attributes its revenue increase to steady sales of both its video games and Yu-Gi-Oh! card games in the United States and Europe and also to the success of World Soccer Winning Eleven 7 for the PS2 in Japan. Sales figures for the company rose to 130 billion yen ($1.2 billion) for the term, which represents a 14.8 percent increase over the same period last year, when the company's sales totaled 113 billion yen ($1.04 billion).

Although Konami's performance for the first half of its fiscal year has accounted for approximately 75 percent of its annual forecast of 14.5 billion yen ($133.9 million), the company has not made any changes to its full-year estimate. The announcement disappointed investors anticipating an increased outlook, dropping the company's share price 3.44 percent for the day.

Discussing its plans for the future, Konami commented that it will be expanding on its Winning Eleven soccer series. The company also plans on strengthening other popular series' such as Metal Gear Solid and Castlevania. In the toy market, Konami will continue to expand on its Yu-Gi-Oh! franchise, which is succeeding in gaining acceptance in the US and UK markets. In Japan, the company aims to expand its product lineup on a Power Rangers-style TV show named Gransazers.

In order to strengthen its content planning and production, Konami announced last month that it plans to open a new division in Los Angeles, California. Under the name of Konami Digital Entertainment, the LA operation will become the base for the company's global games business.