Sega Sammy profits slide 23 percent

The Sega Sammy group has experienced a 23 percent drop in profits within the first nine months of the financial year, reports Net income (stay with us here) went down from $526 million (¥63.49 billion) to $409 million (¥49.38 billion), with sales dropping by 4 percent to $3.35 billion (¥404.29 billion). The current financial state of the company isn't nearly as interesting as the reason given for a drop in profits -- pachinko machines proving less than popular.

Pachinko machines are, of course, a notable aspect of Japanese gaming that Sammy brought along when it romantically joined hands with Sega. Though the company's net profit forecast remains unchanged for the full year, it's easy to observe the parallels between Sammy dragging profits down and Sammy dragging Sega down as a developer. The Ono-like arrival of the Pachinko maker is considered by many to be the turning point for what was once a brilliant and innovative developer. Then again, what good are brilliance and innovation when you can't pay the bills?

This article was originally published on Joystiq.