Japan’s Sega Sammy Holdings has announced it will sell the majority of the shares in its Sega Entertainment division.
The buyer is Genda Inc, a Japanese company specialising in the renting of amusement games that wishes to enter the arcades operating sector.
Sega Sammy made the announcement yesterday to its shareholders. It will sell 85.1 per cent of the shareholding to Genda but will keep the remainder. At the same time the company revealed that it expected to record an extraordinary loss in connection with the transfer.
It has forecast in August that the pandemic had adversely affected the company’s business, leading to structural changes within the group. Its amusement centre operations had shown signs of recovery recently, but with an uncertain future it was decided to opt for the sale.
Sega Sammy is forecasting a Y20bn (US$191m) loss for the fiscal year ending March 2021.
