Pixel Companz Co Ltd, one of the companies eyeing a potential Nagasaki IR, has released a video presenting its financial results for the fiscal year ending 31 December 2020 on its YouTube channel.
In the video, President and CEO Hiroaki Yoshida introduced the company’s difficult financial circumstances as a result of COVID-19. The company posted sales of JPY2.35 billion (US$22.1 million) for the year, an operating loss of JPY299 million (US$2.8 million) and an ordinary loss of JPY313 million (US$2.9 million), with a net loss attributable to the parent company of JPY942 million (US$8.8 million).
“Pixel Games has suffered from restricted sales, such as slot machines, that has come with restricted overseas travel and commercial activities in the pandemic,” said Yoshida. “We have posted an extraordinary loss of JPY652 million (US$6.1 million), including a loss on inventories and an impairment loss recorded at the time of sale, and these form the main factors in the increased net loss.”
The company is developing its business in three areas: system innovation, development and entertainment. For the entertainment business, which has suffered significantly, up-front costs associated with its Nagasaki IR bid in addition to the poor performance of slot machines were the primary causes of its FY20 loss. Yoshida said, “I believe that IR will be a growth area for us in the future. Things are difficult, but we will create a business strategy in anticipation of recovery from the coronavirus crisis.”
In Nagasaki Prefecture, the RFP process kicked off in January, with The One Kyushu consortium of which Pixel Companyz is a part up against four other bidders – Casinos Austria International, Current Corp and Get Nice, Oshidori in partnership with Mohegan, and NIKI Chyau Fwu (Parkview) Group.
The deadline for submitting documentation for screening finished today (1 March) with three candidates set to be announced later this month who will then progress to the second screening in the middle of 2021. One successful bidder will be announced as Nagasaki’s IR partner in August.
RelatedPosts
