The game will be released October 1 in Japan and priced at ¥7,800 (US$81). Those who pre-order the game will get a "starter guide book" and a code for an original downloadable Ryu Hayabusa character costume.
Reason being, the US Dollar is way, way down versus the Yen right now. That's the primary reason Sony's been losing a lot of money lately, if you look at the financial report PDF's you'll see the attribution to Strong Yen as the primary reason losses, as a majority of their sales come from overseas. Remember that article a couple months ago about how Sony can't drop the PS3 price because in an auxiliary way they already have, against their will, due to weakening US Dollar which has resulted in a reduction in revenue for them because they can't increase the price of the machine to compensate for the fact that each dollar they make is worth fewer yen now.
Why so expensive?
Weak Dollar to Yen exchange rate.
"Thanks everyone for a Multi-Trillion dollar bailout and open Boarders." YAY! Whoo hoo!
Don't worry, it won't be that expensive in the west. This is common practice in japan, some of the higher level, popular games are all priced higher in japan than the others, this is apparently one of them, MGS4 was originally one of them too.
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