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Takara Tanks

by Darren Pierce : Radar, Radar! : 10.08.04 1:50pm EST

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The Nikkei Shinbun reported today Takara's loss of ¥33 oku (about 30 million USD), after a market expectation of ¥9 oku profit. Takara's profits were ~ ¥15 oku in the same period last year. The bad news is attributed to weak toy sales and unprofitable business units such as the one managing Takara's Q-Car.

Initially strong overseas sales of Beyblade dropped off dramatically this year, and domestic sales of girls' toys were off. Takara's forecasts are revised downward, and the stock is off sharply.