Japan's game industry grew 12 percent last fiscal year
Even as many of Japan's largest video game companies face financial issues, the overall Japanese game industry grew by 1.2 percent during the last fiscal year, marking the first time the industry has seen positive growth in five years. According to Enterbrain (as reported by Tech In Asia), the Japanese game industry reached a value of $4.6 billion. While software sales actually declined 1.2 percent to $2.8 billion, hardware sales climbed 5 percent to $1.8 billion.

Despite the growth, Japanese companies like Sony, Nintendo and Square Enix are all dealing with internal problems. Square Enix is predicting an "extraordinary" loss as it undergoes restructuring under the leadership of a new president, while layoffs have hit its American branch. Meanwhile, Nintendo recently slashed its hardware sales predictions, though it still expects a profit on the back of a weak Yen. Finally, Sony is working to stem four years of losses by any means necessary, including the sale of its New York headquarters and a Tokyo office building.

[Christina Negoita via ShutterStock]

This article was originally published on Joystiq.

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