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MarketScreener Homepage  >  Equities  >  Tokyo  >  Bandai Namco Holdings Inc    7832   JP3778630008

BANDAI NAMCO HOLDINGS INC

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EU charges six video game companies with unfair 'geo-blocking'

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04/05/2019 | 06:42am EDT
FILE PHOTO: Gamers play video games during the opening of the world's largest computer games fair Gamescom in Cologne

BRUSSELS (Reuters) - The European Commission charged Valve, the owner of a video distribution platform, and five game publishers on Friday with preventing EU consumers from shopping around within the European Union to find the best deal for the games they offer.

The case is the latest move by EU antitrust regulators against cross-border curbs on online trade, key to what is seen as a major part of economic growth in the 28-country bloc.

The Commission, which oversees competition policy in the 28 EU countries, said that the companies were Valve Corp, the owner of the world's largest video game distribution platform 'Steam', and five game makers - Bandai Namco, Capcom, Focus Home, Koch Media and ZeniMax.

"In a true digital single market, European consumers should have the right to buy and play video games of their choice regardless of where they live in the EU," European Competition Commissioner Margrethe Vestager said.

The Commission has sent what it calls a "statement of objections" to the companies, allowing them to reply and request hearings to present their arguments.

Companies found guilty of anti-competitive behaviour can be fined up to 10 percent of their annual global turnover.

The Commission said it was concerned that Valve and the five game publishers agreed to prevent cross-border sales by geo-blocking the 'activation keys' that enable consumers to be able to play games.

This may have prevented consumers from buying cheaper games available in other EU countries.

EU antitrust regulators opened its investigation in February 2017, at the same time also looking into online sales of electronics and hotel rooms.

EU rules prohibit geographically based restrictions that undermine online shopping and cross-border sales. Last month, it fined Nike for blocking cross-border sales of soccer merchandise.

(Reporting by Philip Blenkinsop, editing by Louise Heavens)

By Philip Blenkinsop

Stocks mentioned in the article
ChangeLast1st jan.
BANDAI NAMCO HOLDINGS INC 1.66% 6140 End-of-day quote.28.32%
CAPCOM CO., LTD. 0.42% 2888 End-of-day quote.36.23%
FOCUS HOME INTERACTIVE 1.46% 24.35 Real-time Quote.4.80%
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Financials (JPY)
Sales 2020 746 B
EBIT 2020 91 696 M
Net income 2020 65 405 M
Finance 2020 237 B
Yield 2020 2,45%
P/E ratio 2020 20,5x
P/E ratio 2021 19,0x
EV / Sales2020 1,49x
EV / Sales2021 1,36x
Capitalization 1 350 B
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 6 338,18  JPY
Last Close Price 6 140,00  JPY
Spread / Highest target 66,1%
Spread / Average Target 3,23%
Spread / Lowest Target -21,8%
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Managers
NameTitle
Mitsuaki Taguchi President & Representative Director
Shuji Ohtsu Director & General Manager-Group Administration
Yuji Asako Director & General Manager-Corporate Planning
Satoshi Oshita Director & Head-Network Entertainment Unit
Hitoshi Hagiwara Director & Head-Real Entertainment Unit
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