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Dentsu to Post Y5 Billion Loss on Geneon's Downsizing

posted on 2007-09-29 13:25 EDT
The Japanese advertising firm Dentsu Inc. announced on September 27 that it will post a 4.7-billion-yen (US$41 million) loss on a consolidated basis and 5.1-billion-yen (about US$44 million) loss on a non-consolidated basis due to the downsizing of its Geneon Entertainment (USA) Inc. anime subsidiary's "scope of business." It will also post a 7.2-billion-yen (US$63 million) loss on its withdrawal from D&T, a joint sales partnership between Dentsu and Tohokushinsha Film Corporation for broadcasting rights in Japan to foreign movies and television programs. Both losses will be reflected in the financial results for the first half of the fiscal year ending March 31, 2008. Thanks, Blackwing.

This article has a follow-up: Geneon USA President & CEO Sends Message to Fans (2007-10-06 04:31)
follow-up of Geneon USA to Cancel DVD Sales, Distribution by Friday

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