$501 million loss for Sega in financal year 07

Sega Sammy have today announced sales were down from 528.24 billion yen ($5.04 billion) in 2007 to 458.98 billion yen ($4.38 billion) this year, the result were taken from the period ending March 31. Because of this, the company posted a net loss of 52.47 billion yen ($501 million) compared to net income of 43.46 billion yen ($415 million) during 2007.

“As rebuilding our consumer video game business is crucial, we now need to review our game title strategy more flexibly to adapt ourselves to changes in the trend of the market,” said Koichiro Ueda, head of Sega’s public relations department,

We suspect this number would have been much, much worse if it was not for the success of Mario & Sonic at the Olympics, as it continues to hit the top 10 every week.