TOKYO -- The magnitude 9.0 earthquake and tsunami that struck Japan on March 11 have cost the nation's videogame industry $88.9 million in cancelled home game and hardware sales alone, according to the head of a local trade-publishing house.
Hirokazu Hamamura, chief executive of Enterbrain, which publishes several videogame magazines, said a total of 31 consumer game titles were delayed or cancelled in the aftermath of the twin disasters.
But the trade publisher also predicted that the industry would recover later this year as delayed titles are brought to market and normal sales resume.
Estimates of industry financial losses due to Japanese arcade closures were not available at presstime. Such losses are expected to be significant due to widespread power failures and rolling blackouts in several major Japanese cities.
Power failures, a direct result of the original tremblor and aftershocks, have been sufficiently dire to cause speculation that the Japan Amusement Machinery Manufacturers Association may be forced to downsize or cancel the Amusement Machine Show. Familiarly known as the JAMMA Show, the event is set for Sept. 8-10 on the outskirts of Tokyo. | SEE STORY
As earlier reported by VENDING TIMES, stock prices for videogame manufacturers on the Tokyo Stock Exchange plummeted sharply in the first 72 hours following the earthquake. | SEE STORY