Capcom Financial Highlights: Fiscal Year Ended March 31, 2022

Key insights

7 takeaways

01
Capcom achieved record-high profits across all categories for the fiscal year ended March 31, 2022, marking nine consecutive years of operating income growth with net sales reaching 110,054 million yen.See it on page 1
02
The Digital Contents segment was the primary growth driver, contributing 87,534 million yen in sales and 45,359 million yen in operating income, fueled by strong performance in the Consumer sub-segment.See it on page 7
03
Total unit sales for consumer software rose to 32.6 million units, with overseas markets accounting for 83.1% of total volume and catalog titles (back-catalog) contributing 24 million units.See it on page 8
04
Key title performance significantly bolstered results, with 'Resident Evil Village' selling over 6.1 million units and 'Monster Hunter Rise' contributing 4.1 million units during the fiscal year.See it on page 9
05
The company maintained a strong financial position with cash and cash equivalents increasing by 31,592 million yen to a total of 95,635 million yen, while ROE grew to 24.4%.See it on page 6
06
Arcade Operations saw a recovery with a 19% increase in same-store sales, resulting in 12,404 million yen in segment sales and 652 million yen in operating income.See it on page 5
07
The Amusement Equipments segment saw a decline in performance, with net sales dropping to 5,749 million yen despite the release of three new pachislo models totaling 26,000 units.See it on page 11

Summary

Capcom’s financial results for the fiscal year ended March 31, 2022, demonstrate a period of record-breaking growth, marking the company’s ninth consecutive year of operating income expansion. The primary thesis of the performance is that the strategic focus on the Digital Contents segment—specifically the Consumer sub-segment—successfully drove both top-line revenue and bottom-line profitability. Net sales reached 110,054 million yen, while operating income climbed to 42,909 million yen, both figures aligning closely with the company’s revised annual forecasts.

The Digital Contents business served as the primary engine for this growth, contributing 87,534 million yen in net sales and 45,359 million yen in operating income. This success was underpinned by a record-high 32.6 million units sold in the Consumer sub-segment, with overseas markets accounting for 83.1% of total unit sales. Key titles, including Resident Evil Village and Monster Hunter Stories 2: Wings of Ruin, performed strongly, while the company’s catalog strategy—leveraging long-running sales of established titles like Resident Evil 7 biohazard—continued to provide significant revenue stability.

Secondary business segments showed mixed but generally positive results. Arcade Operations recovered from previous pandemic-related declines, achieving a 19% increase in same-store sales and totaling 42 locations. The Amusement Equipments segment saw a slight contraction in sales to 5,749 million yen, despite the release of three new pachislo models. Meanwhile, the Other Businesses segment, encompassing character licensing, media adaptations, and eSports, grew to 4,366 million yen in sales. The company maintained a strong financial position, ending the fiscal year with 95,635 million yen in cash and cash equivalents, supporting a dividend payout ratio of 30.2% and an improved return on equity of 24.4%.