Dentsu Posts Massive Losses on Account of Geneon

More tragic news from Dentsu, Geneon's parent company. In a recent press release posted on their site (appropriately titled Dentsu Posts Extraordinary Income and Extraordinary Losses, etc.)that due to the downsizing of Geneon, they are anticipating huge losses. They are estimating figures close to ¥4.7 Billion in consolidated losses and ¥5.1 Billion in non-consolidated losses when they post their financial results for the first half of their fiscal year ending on March 31st, 2008. For those who have no idea what the above means, consolidated losses are losses to Geneon and its parent, Dentsu, and non-consolidated losses probably in this case just means Geneon USA. ¥4.7 Billion is around $40 Million USD, and ¥5.1 comes out to $44 Million USD. Perhaps these are the numbers that scared ADV away from the proposed deal? Dentsu is also going to back out of a partnership with Tohokushinsha Film Corporation. The partnership was a joint sales business for broadcasting rights in Japan to foreign movies and television shows. Tohokushinsha is also a production company with titles such as Appleseed, and we remember Geneon did a huge amount of promotion for this movie at Anime Conventions all over North America. They were hailing it as the next big thing in anime movies , and gave out a lot of schwag for it. Something very bad must have happened between them as well. Dentsu is Japan's leading advertising agency and also has a powerful presence all over the world, and it is not looking like this company is having a very good year with it's entertainment ventures.