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Latest News From Japan

 
Latest News From Japan
Latest News From Japan
Jaleco Revises Forecast Down

In presumably its last fiscal forecast, Jaleco revised its forecast forthe fiscal year downwards on October 20. On November 1, the company name will change to Pacific Century Cyber Works Japan Ltd. and president Kanazawa will be replaced by Pacific Century's Todd Bonner. Jaleco are now forecasting a loss of JPY980 million for the full fiscal year ending March 2001.

Creditors Waive 75% of Yubis Debt

Under a reconstruction plan approved by the Osaka District Court on October 2, creditors of the the major coin-op game distributor Yubis agreed to waive 75% of the company's debts. At the creditors meeting, it was only the support of major manufacturers and Yubis' operator customers that gained the necessary number of votes to approve the plan.

Taito To Slash Costs: Sell HQ Building, Voluntary Redundancies

Taito's latest forecast for this fiscal year shows a loss of JPY1,750 million. The company blames the loss on dropping arcade income in Japan and poor coin-op and consumer game sales. Together with the announcement of the downward revision, Taito also outlined cost-cutting plans including the sale of its HQ building in central Tokyo and its consumer game R&D building in Yokohama.

The consumer R&D staff will now be housed in the same place as the coin-op staff in Kanagawa Prefecture. Taito is looking for 300 of its 1,717 employees to take voluntary retirement before the end of this year and has budgeted JPY1,300 million for this purpose.

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With thanks to;

John Ryan

Manjiro Works

Tel: +81 90 2105 8084

Email:john@manjiro.com

Web: www.manjiro.com
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