Kodansha Reports Largest Ever Annual Loss

Japanese publisher Kodansha has revealed its 2008 fiscal results. Declines in advertising revenue and manga sales led to a 7.686 billion yen (US $81.2 million) drop from 2007 earnings – the publisher’s largest single year loss ever.

2008 magazine sales fell to 93.7% of 2007 levels. Book publishing revenue was only 92.1% of 2007 earnings. And advertising revenue fell to 89.8% of 2007’s income.

Source: Anime News Network