Second Year of Sega Sammy Losses

Times are tough. Sega Sammy knows. The company has released its 2008 fiscal results, posting a loss for the second year straight.

The company chalked up a net ¥ 22.88 billion loss, which was less than the ¥52.47 billion loss of last year. The company's pachinko and arcade business caused financial bleeding. While game sales were firm, there was a 7.5 percent decline in those sales.

Sega Sammy did see a pretax profit of ¥6.64 billion compared to the previous year's ¥8.22 billion, but is already forecasting a 2.1 percent decrease in sales for the next financial year.

In order to cut costs, Sega Sammy is offering an early retirement program.