Japanese video game developer Capcom has reduced its profits forecast for FY 2009 by ¥6.5 billion ($70 million), the company reported today.
The revision is based on the company’s decision to move back the release of several of its most promising upcoming titles until after April 1st, when Japanese fiscal year 2010 begins.
The company says the games are being delayed to avoid competition with an unusually strong field in the next three months. Big ticket games coming out in the coming quarter include Take-Two’s BioShock 2, Square-Enix’s Final Fantasy XIII, and Electronic Arts’s Dante’s Inferno.
The delay of major releases such as Lost Planet 2 and Super Street Fighter IV wipes out $300 million of projected revenue for the year. The company expects to lose another $50 million restructuring its struggling pachinko business.
Analysts have widely projected a huge start for video game sales in 2010. While Capcom’s move will take away from total industry sales for the quarter, it is a tangible sign of just how strong the lineup of new games is expected to be.
Business Insider Emails & Alerts
Site highlights each day to your inbox.