Zeus
11-01-2007, 06:32 AM
According to Bloomberg, Konami's shares took a huge hit (their biggest fall in four years) in Tokyo trading as a result of the announcement that Metal Gear Solid 4 was to be delayed in its release. Earnings for the financial year ending March 31st were expected to be boosted by sales of approximately 1 million copies of the game.
Konami Corp., the Japanese maker of the ``Metal Gear Solid'' espionage action game, fell the most in almost four years in Tokyo trading after the company's delay of the latest installment prompted concerns earnings growth may slow.
Konami shares fell 6.8 percent to 3,160 yen at the 11 a.m. break on the Tokyo Stock Exchange, while the benchmark Nikkei 225 Stock Average gained 0.8 percent. Shares of Tokyo-based Konami had the largest drop since Dec. 8, 2003.
The company, which developed the game for Sony Corp.'s PlayStation 3 console, will sell the title in the second quarter of 2008, delaying from ``winter'' this year, Konami said yesterday. Earnings in the year ending March 31 were expected to be boosted by sales of about 1 million copies of the game, said Mitsubishi UFJ Securities Co.
News Source: <A href="http://www.bloomberg.com/apps/news?pid=20601205&sid=a5PxAW9Ck70o&refer=consumer\" target="_blank">Bloomberg</a>
Konami Corp., the Japanese maker of the ``Metal Gear Solid'' espionage action game, fell the most in almost four years in Tokyo trading after the company's delay of the latest installment prompted concerns earnings growth may slow.
Konami shares fell 6.8 percent to 3,160 yen at the 11 a.m. break on the Tokyo Stock Exchange, while the benchmark Nikkei 225 Stock Average gained 0.8 percent. Shares of Tokyo-based Konami had the largest drop since Dec. 8, 2003.
The company, which developed the game for Sony Corp.'s PlayStation 3 console, will sell the title in the second quarter of 2008, delaying from ``winter'' this year, Konami said yesterday. Earnings in the year ending March 31 were expected to be boosted by sales of about 1 million copies of the game, said Mitsubishi UFJ Securities Co.
News Source: <A href="http://www.bloomberg.com/apps/news?pid=20601205&sid=a5PxAW9Ck70o&refer=consumer\" target="_blank">Bloomberg</a>