Capcom Q1 2024 Financial Report

Capcom’s financial results for the first quarter of the fiscal year ending June 30, 2024, reflect a significant year-over-year decline in all primary business metrics. Revenue fell 32.5% to ¥29.6 billion ($192.6 million), while operating income and net income dropped by 46.4% and 45.1%, respectively. The company attributes these downturns primarily to a lack of major new game releases during the period, contrasting with the same quarter in 2023, which benefited from the launch of Street Fighter 6.

The Digital Contents division, which serves as the company's core business segment, saw revenue decrease by 44% to ¥21.4 billion ($139.2 million). Total game sales reached 9.53 million units, a 29.4% decline compared to the previous year. Notably, the company’s performance was heavily reliant on its back catalog, which accounted for 97.1% of total unit sales, while new titles contributed only 274,000 units. Despite the overall decline, mobile revenue experienced a 150% increase, and the company maintains a positive outlook for the remainder of the fiscal year, projecting full-year revenue of ¥165 billion ($1 billion).

Geographically and platform-wise, PC remains the dominant distribution channel, representing 52% of total sales, followed by consoles at 41% and mobile at 7%. Key franchises continue to show long-term resilience, with Resident Evil and Monster Hunter leading the portfolio. Resident Evil Village notably achieved a milestone of 10 million units sold, marking it as the fastest title in the series to reach that threshold. Capcom remains committed to its full-year financial targets, anticipating a recovery driven by upcoming releases such as Monster Hunter Wilds.