Avex sales revenue up 12.6%
Company reports net loss for the year, about same as 2007.TOKYO -- Avex Group Holdings of Japan reported strong sales figures in its financial results for the fiscal year ending March, 2009.
Avex Group continues the run that has catapulted them to the largest market share of physical sales in Japan last calendar year according to Soundscan Japan. The company reported a 12.6% rise in sales revenue compared with the previous fiscal year. Avex had 117.8 billion yen ($1.2 billion) in sales for the fiscal year ending March 31, 2009.
Avex did report a net loss of 905 million yen ($9.6 million), little changed from the 909 million yen ($9.6 million) net loss for the previous fiscal year.
Meanwhile, Sony Music Entertainment (Japan) reported total consolidated earnings of 166.95 billion yen ($1.8 billion) for fiscal year 2009. The figure is a drop of 1.4% compared to the previous fiscal year. Sony reported that 18.2% of its music sales were from international repertoire, as compared with 21% the previous fiscal year.