Streetbeat News

SGAMY

Sega Sammy Holdings Inc.

https://www.segasammy.co.jp/

CEO

Hajime Satomi

Industry

Motion Picture and Video Production

Open

4.25

Mkt cap

3.8B

Volume

2.6K

High

4.42

P/E Ratio

14.73

52-wk high

5.36

Low

4.25

Div yield

0.02

52-wk low

2.89

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

SEGA of America, a subsidiary of Sega Sammy Holdings Inc (OTC:SGAMY), is proceeding with the layoff of 61 employees on March 8, despite opposition from the AEGIS-CWA union. The layoffs are part of a plan to outsource QA and part of localization, which the union believes will negatively affect working conditions and game quality. The union has managed to save jobs and secure severance for temporary workers, but concerns remain about the broader trend of layoffs in the gaming industry. SEGA of America has not commented on the connection between these layoffs and its previous plan to phase out temporary employees.

Portfolio Pulse from Franca Quarneti

January 31, 2024 | 11:23 pm

Sega of America, a subsidiary of Sega Sammy Holdings Inc (OTC:SGAMY), is accused of threatening mass layoffs as retaliation against employees' unionization efforts. The Communications Workers of America filed an unfair labor practice complaint, alleging Sega informed unionized staff about job offshoring, affecting 40% of the group. The Allied Employees Guild Improving Sega (AEGIS-CWA) was bypassed in the process, breaching standard negotiation procedures. Despite the complaint to the National Labor Relations Board, layoffs may still proceed amidst industry-wide cost-cutting measures.

Portfolio Pulse from Franca Quarneti

November 16, 2023 | 8:18 pm

Benzinga's Stock Whisper Index highlights five stocks: GAN Limited after an acquisition announcement by Sega Sammy Creation; Marathon Digital Holdings following Q3 results and Bitcoin production increase; Eli Lilly with FDA approval for Tirzepatide; Astra Space after a buyout proposal from its founders; and Coinbase Global due to Q3 revenue beat and Bitcoin optimism. These stocks are gaining investor interest and could see short-term impacts.

Portfolio Pulse from Chris Katje

November 10, 2023 | 3:45 pm

Online gaming platform GAN Limited (NASDAQ:GAN) has agreed to be acquired by Sega Sammy Creation Inc., a subsidiary of Sega Sammy Holdings, Inc. (OTC: SGAMF, SGAMY), for $1.97 per share, a 121% premium over GAN's closing price on November 7, 2023. The merger is expected to close in Q4 2024, with GAN becoming a wholly-owned subsidiary of Sega Sammy Creation. GAN shares are trading higher by 96.2% to $1.75 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 10:35 am

SEGA executive Osamu Ohasi has expressed his ambition for Sonic the Hedgehog to surpass Mario in terms of popularity. Ohasi, who manages SEGA's 2nd Business Department responsible for the Sonic franchise, wants Sonic to be played globally and the Sonic movie to be a bigger hit than Mario. However, achieving these objectives will be challenging as the recent Super Mario Bros. movie grossed $1.36 billion at the box office, while the two Sonic movies combined generated a total of $725 million. In terms of video game sales, Mario is the best-selling video game franchise of all time, with over 830 million copies sold globally.

Portfolio Pulse from Franca Quarneti

November 03, 2023 | 8:53 pm

Capcom Co., Ltd's COO Haruhiro Tsujimoto stated that the company would decline any potential acquisition offer from Microsoft Corp. This statement was made in response to leaked documents showing Capcom as a potential acquisition target for Microsoft. Tsujimoto emphasized Capcom's preference for organic growth and developing talent in-house, stating that the company has no intention of acquiring other companies.

Portfolio Pulse from Franca Quarneti

September 26, 2023 | 10:21 pm

Sega of America, a subsidiary of Sega Sammy Holdings Inc (OTC: SGAMY), has officially unionized following a successful vote by over 200 workers. The unionization aligns with similar efforts at Microsoft Corp (NASDAQ:MSFT) and Activision Blizzard Inc (NASDAQ:ATVI). The workers' demands include higher base pay, improved benefits, and enhanced career advancement prospects.

Portfolio Pulse from Franca Quarneti

July 11, 2023 | 8:51 pm

Sega Corp. is reconsidering its blockchain gaming strategy due to the recent downturn in the global cryptocurrency market. The company will no longer allow its flagship franchises to be used in third-party blockchain gaming projects. However, Sega will continue to invest in blockchain-related ventures and will offer its lesser-known franchises to upcoming blockchain games. Other gaming companies like Square Enix Holdings Co., Ltd. and Bandai Namco Entertainment Inc had also previously embraced blockchain technology.

Portfolio Pulse from Franca Quarneti

July 07, 2023 | 6:00 pm

Internal documents in the ongoing legal battle between the FTC and Microsoft over the acquisition of Activision Blizzard have revealed Xbox's interest in acquiring Sega Sammy Holdings. The documents outline strategic recommendations to address Xbox's content gaps in mobile development, with a focus on acquiring franchises with strong communities and deep engagement. Other developers Xbox considered buying include Thunderful, Supergiant Games, Niantic, Playrix, Zynga, Bungie, IO Interactive, and Scopely.

Portfolio Pulse from Franca Quarneti

June 27, 2023 | 8:54 pm

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