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Namco Bandai year-end revenue increases despite missing Tekken target

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Publisher Namco Bandai has announced the financial results for the end of its fiscal year, stating that the company saw an increase in earnings throughout numerous sectors despite missing sales targets for both Tekken Tag Tournament 2 and Tales of Xillia 2.

According to the publisher, worldwide net sales increased by 7.3 percent to 487 billion yen (roughly $4.9 billion) a comparative boost from last year's earnings of 434 billion yen. The company's net income for the year ending March 31, 2013 saw a 67.8 percent rise over last year, increasing from 19.3 billion yen to 32.4 billion yen (roughly $327 million).

However, Namco Bandai notes it failed to meet shipping targets for a number of its titles. The company planned to ship 1.7 million units of Tekken Tag Tournament 2 but hit just under target at 1.5 million units worldwide. Role-playing game Tales of Xillia 2, a Japan exclusive, shipped 500,000 units missing its target of 650,000 units.

Last month, Namco Bandai revealed its plans to open a studio in Vancouver, Canada, with plans to develop next-generation entertainment and online social games for North American and European regions.