Sega dreams to double game sales by 2004

The plan, issued ahead of an analyst meeting, said the company hopes to achieve an operating profit at both group and parent company level in the current fiscal year, ending in March 2002. At the end of January, Sega forecast a group net loss of 58.3 billion yen ($684 million) and a pretax loss of 47.9 billion yen for the fiscal year just ended.

Sega plans to cut the number of companies it holds investments in by about half from the current 58, and said it expects its contents business, which is game software production for consumer game consoles, to double sales and profits in the period from the end of this fiscal year to the fiscal year ending March 2004.

The company stopped production in March of its Dreamcast game console, on which it was counting on to be the market leader, almost a year after being overtaken by Sony Computer Entertainment's PlayStation 2.

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