Sega posts loss following 'weak game dema

Sega has posted a weak set of financial results for its first financial quarter ended June 30. One of the biggest areas to suffer was its consumer business, which houses the company's game and toy divisions. It recorded an operating loss of 3.86 billion yen (£30.6 million), with net sales down 22.3 percent year-over-year to 16.2 billion yen (£128.6 million).Games released during the quarter included movie tie-in Thor, Virtua Tennis 4 and Yakuza of the End.Sega said in a statement: "In the home video game industry, the demand was generally weak in the US and European markets due to the headwind like sluggish personal consumption."The group needs to adapt to changing business environment in which the market demand for new content geared to social networking service and smartphone is expanding."Due to factors including a settlement payment for patent licensing, parent company Sega Sammy posted a net loss of 2.22 billion yen (£17.6 million) for the quarter, with sales down 28.5 perrmtcto 65.33 billion yen ($518.4 million).

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