Today Bandai Namco announced its financial results for the third quarter of the fiscal year, related to the period between Oct. 1 and Dec. 31.
As you can see below, the results for the company as a whole have been essentially flat year-on-year, but the gaming business (Network Entertainment) performed strongly, with sales up 11.4% year-on-year and profit growing by 30.9% year-on-year.
As a result, the company increased its forecast for both sales and profit for the full fiscal year, despite the 13 billion yen extraordinary loss espexted for the Real Entertainment business in the fourth quarter due to the restructuring of its business and the impact of the COVID-19 pandemic.
We get the confirmation that starting on April 1, the company will go through a major restructuring operation announced back in the summer.
This will involve the merging of the gaming business (Network Entertainment) with the toys & hobby business. This will simply be called “Entertainment Unit.”
Ahead of this restructuring, Bandai Namco announced the appointment of a new president, Masaru Kawaguchi.
Kawaguchi-san has been working at the company since 1983 and was director of both Bandai Namco Entertainment and Bandai Spirits in 2019 before becoming executive vice president of the whole corporation in 2020. starting on April 1, he’ll step up to the top role.
“The BANDAI NAMCO Group will embark on a new Mid-term Plan from April 2022, reflecting a new strategic direction for BANDAI NAMCO in a new era of dramatically changing sense of values and lifestyles.
From April 2021, each business will join together in a united effort to a greater degree than before under the ALL BANDAI NAMCO concept in preparation for the next Mid-term Plan. The Company will reorganize its Unit structure to further strengthen its IP Axis Strategy in the global market, and will change to a new structure for its directors.
Under the new director structure, Masaru Kawaguchi will be appointed President and Representative Director, and will lead the formulation of the next Mid-term Plan, as well as preparations for the execution of strategies and establishment of the business foundation. Mitsuaki Taguchi will participate in management as Chairman and Director from a wide ranging perspective on group management, utilizing the insight gained from his role as Representative Director up until now.”
If you’d like to compare the results with historical data, you can check out our article dedicated to the previous quarter.