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BUSINESS
May 27, 2000 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
The battle over the $7-billion video game industry claimed its first casualty on Friday when the president of financially troubled Sega Enterprises announced that he will step down after the giant game maker reported a staggering loss for the third straight year. The Tokyo-based game giant said it lost $398.1 million for fiscal 2000, matching last year's deficit. Sales jumped nearly 27%, to $3.17 billion.
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BUSINESS
May 27, 2000 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
The battle over the $7-billion video game industry claimed its first casualty on Friday when the president of financially troubled Sega Enterprises announced that he will step down after the giant game maker reported a staggering loss for the third straight year. The Tokyo-based game giant said it lost $398.1 million for fiscal 2000, matching last year's deficit. Sales jumped nearly 27%, to $3.17 billion.
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BUSINESS
February 19, 1994 | From Times Staff and Wire Reports
Sega Forecasts Profit Decline: Sega Enterprises, the aggressive Japanese video game maker that eclipsed archrival Nintendo Co. in the U.S. market last year, forecast its first drop in profits in 12 years. It cited the soaring yen, the recession in Europe and intensified competition in its home market.
BUSINESS
June 9, 1997 | DAVID PESCOVITZ, SPECIAL TO THE TIMES
Sonic the Hedgehog is down, but he may not be out. In the weeks before the opening of the 1997 E3 interactive software trade show in Atlanta, Sega of America, the U.S. arm of Sega Enterprises Ltd., has repeatedly faced the brunt of bad news on the front lines of the home console video-game wars.
BUSINESS
June 9, 1997 | DAVID PESCOVITZ, SPECIAL TO THE TIMES
Sonic the Hedgehog is down, but he may not be out. In the weeks before the opening of the 1997 E3 interactive software trade show in Atlanta, Sega of America, the U.S. arm of Sega Enterprises Ltd., has repeatedly faced the brunt of bad news on the front lines of the home console video-game wars.
BUSINESS
July 16, 1996 | From Times Staff and Wire Reports
Video game giant Sega Enterprises, struggling in the face of intense competition from Sony and Nintendo, announced Monday that the head of its U.S. unit, Tom Kalinske, will leave the company as part of a sweeping management shake-up. Kalinske, a well-known figure in the video game business, will take a job Oct. 1 as head of Education Technology LLC, a Los Angeles-based start-up formed in March by Oracle Corp. Chairman and Chief Executive Larry Ellison and former junk bond king Michael Milken.
BUSINESS
December 15, 1999
Excite@Home Inc., a Redwood City provider of Internet access and search services, said it will be the exclusive online search site for Sega Enterprises Ltd.'s Dreamcast game device. Terms weren't disclosed. Sega has sold more than 1 million units in North America of Dreamcast, which can be used to access the Internet.
BUSINESS
September 6, 1999
* Sega Enterprises' new Dreamcast video game console makes its official U.S. sales debut Thursday. Can the new machine help the company win back market share from rivals Sony and Nintendo? Special Report: E-Commerce For a special issue of The Cutting Edge on Sept. 30, The Times welcomes comments from readers about their experiences shopping online. E-mail barry.stavro@latimes.com.
BUSINESS
March 20, 1995 | Times Staff and Wire Reports
Video Game Machine Counterfeiters Raided: Japanese video game company Sega Enterprises said authorities took the government's first action against copyright pirates after a recent accord with the United States. The Administration for Industry and Commerce staged a raid March 9 in Beijing, going after seven manufacturers, wholesalers and retailers, Sega said. All were allegedly supplying counterfeit Sega products to Beijing retail shops and to Russian traders.
BUSINESS
November 11, 1995 | Times Staff and Wire Reports
Sega Blames Slow Overseas Sales for Profit Fall: The Japanese game machine maker reported poor earnings for the first half of its fiscal year, blaming sluggish sales of video game hardware and software in the United States and Europe. Sega Enterprises said its current profit for the six months ended Sept. 30 fell to $110 million from $163 million a year earlier. Current profit is a pretax figure and includes gains and losses on securities investments and other non-operating activities.
BUSINESS
July 16, 1996 | From Times Staff and Wire Reports
Video game giant Sega Enterprises, struggling in the face of intense competition from Sony and Nintendo, announced Monday that the head of its U.S. unit, Tom Kalinske, will leave the company as part of a sweeping management shake-up. Kalinske, a well-known figure in the video game business, will take a job Oct. 1 as head of Education Technology LLC, a Los Angeles-based start-up formed in March by Oracle Corp. Chairman and Chief Executive Larry Ellison and former junk bond king Michael Milken.
BUSINESS
February 19, 1994 | From Times Staff and Wire Reports
Sega Forecasts Profit Decline: Sega Enterprises, the aggressive Japanese video game maker that eclipsed archrival Nintendo Co. in the U.S. market last year, forecast its first drop in profits in 12 years. It cited the soaring yen, the recession in Europe and intensified competition in its home market.
BUSINESS
February 16, 1994 | From Times Staff and Wire Reports
Nintendo of America Names Chairman: Nintendo of America Inc., seeking to improve its competitive position in the video game market, said Howard C. Lincoln, a senior vice president, had been elected chairman of the company. He will join Nintendo of America President Minoru Arakawa on the North American subsidiary's board of directors. Lincoln has held his current position since 1983. He and Arakawa will be responsible for management of the Redmond, Wash.-based firm.
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