Financial

Consolidated Financial Results for the Nine Months Ended December 31, 2023

29 January 20246 pages1,765 words

Summary

Koei Tecmo Holdings Co., Ltd. reported significant growth in its consolidated financial results for the nine months ended December 31, 2023. Net sales reached ¥61,136 million, a 23.7% increase compared to the same period in the previous year. While operating profit saw a decline of 11.7% to ¥20,316 million, ordinary profit surged by 100.4% to ¥33,825 million. Profit attributable to owners of the parent also saw a substantial rise of 80.2%, totaling ¥24,283 million. The divergence between operating and ordinary profit is largely attributed to non-operating activities, specifically gains from the sale of investment securities and the valuation of derivatives. Non-operating income rose to ¥29,341 million, bolstered by ¥9,407 million in investment security sales and ¥8,127 million in derivative valuation gains. Conversely, non-operating expenses decreased from the prior year, despite losses on the redemption of securities and sales of investments. The company’s financial position remains robust, with total assets increasing to ¥244,844 million as of December 31, 2023, up from ¥210,889 million at the end of the previous fiscal year. This growth was driven by a significant increase in current assets, particularly securities and cash. However, the capital adequacy ratio saw a slight decrease from 67.4% to 64.1%, influenced by the reclassification of convertible bonds to current liabilities. Looking ahead to the full fiscal year ending March 31, 2024, the company maintains its forecast of ¥95,000 million in net sales and ¥31,000 million in profit attributable to owners of the parent. These results reflect a period of strong top-line growth and effective asset management, despite rising selling, general, and administrative expenses which impacted operating margins. The data covers the company's global operations under Japanese GAAP.

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Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2022

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Consolidated Financial Results for the Nine Months Ended December 31, 2023

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