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DeNA expects 35% jump in sales to $593 million in Q1 2012

Complete gacha ban yet to hit hard
DeNA expects 35% jump in sales to $593 million in Q1 2012

Japanese social games giant DeNA has claimed it expects to see a 35 percent year on year jump in quarterly sales in Q1 2012, with the outlaw against 'complete gacha' failing to hit the company hard.

Detailed in an official financial projection, the firm which is behind mobile social gaming platform Mobage predicted it will see net sales hit ¥46.7 billion across the quarter, equal to around $593 million.

Holding strong

That's up from the ¥34.6 billion ($440 million) it amassed during the same quarter in 2011, with consolidated operating income coming in at ¥17.5 billion around $222 million, itself up 11 percent from the same period last year.

It had been expected DeNA would be hit hard by the ban on the 'complete gacha' mechanism in Japanese social games a practice that saw games charge players small sums for virtual items that can be converted into a rare item when combined.

As part of its financial outlook, DeNA has also announced that it plans to buy back up to 14 million of its own shares - spending up to $250 million in the process - to reacquire around 10 percent of its outstanding stock.

The buyback will take place between 15 June and 31 July this year, and represents the third time DeNA has moved to buy back stock to date.