IG Anticipates its First Annual Loss

IG Port, the parent company of the anime studios Xebec and Production I.G, has announced that it expects to face a 527 million yen ($5.8 million USD) loss for the fiscal year that ended in May. The loss will be IG’s first since its stock went public. The company cites a 201 million yen ($2.2 million USD) decline in revenue, 146 million yen ($1.6 million USD) owed to IG which it doesn’t expect its debtors to actually pay, and 32 million yen ($350,000 USD) in costs associated with moving the IG Port and Production I.G offices. IG Port’s final fiscal report for the past fiscal year will be released on July 9.

At least it’s not entirely due to declining sales revenue.

Source: Anime News Network