Avex sales up, profit down
Tuesday, May 26, 2009
Avex Group Holdings reports sales for the year ending March 31, 2009, of 117.8 billion yen ($1.2 billion), up 12.6%, but an after-tax loss of 905 million yen ($9.5 million). That shortfall was reportedly due to costs associated with Bee TV, a mobile-phone TV venture that Avex recently established with major Japanese carrier NTT DoCoMo.
Sales at parent company Avex, Japan’s biggest label in terms of market share, were 11.7 billion yen ($123 million), down 10.6%, with an after-tax loss of 3.1 billion yen ($33.1 million).

