Financial Results: Fiscal Year Ending March 2024

Key insights

7 takeaways · ~3 min read

01
KOEI TECMO HOLDINGS CO., LTD. missed its FY23 sales target by 11.0% (¥10,416 million) and operating profit target by 24.0% (¥9,006 million), primarily due to lower-than-expected sales of new console and mobile titles, underperforming repeat sales of FY22 titles, and one title being delayed to FY24.See it on page 3
02
Despite missing sales and operating profit targets, Ordinary Profit for FY23 exceeded the plan by 12.9% (¥5,241 million) and Net Profit exceeded the plan by 9.0% (¥2,792 million).See it on page 3
03
Total unit sales for FY23 decreased by 23.9% to 7.34 million units compared to FY22, with overseas sales declining by 26.5% and Japan sales by 18.0%. Digital sales constituted 69.6% of total sales, an increase of 2.6 percentage points from FY22.See it on page 6
04
Online and mobile sales achieved a new record high in FY23, driven by multiple new in-house developed mobile titles, establishing stable earnings in a competitive market.See it on page 8
05
For FY24, the company projects a conservative plan with sales increasing by 6.4% to ¥90,000 million and operating profit increasing by 5.3% to ¥30,000 million, based on repeat console sales, monthly online/mobile sales, and IP licensing royalties.See it on page 12
06
KOEI TECMO aims to achieve the 3rd Mid-Term Management Plan targets (¥100 billion sales, ¥40 billion operating income, ¥50 billion ordinary income) in the upcoming 4th Mid-Term Management Plan starting in FY25.See it on page 21
07
The company is transitioning to a new generation of management, with Executive Vice President Koinuma and Director Hayashi leading policy and business management, and is enhancing its governance structure to support AAA-level development and global marketing.See it on page 24

Summary

for the Fiscal Year Ending March 2024 FY22 FY23 Vs Previous Year Full Year Full Year Amount Ratio Amount Ratio Amount % Change Sales 78,417 - 84,584 - 6,167 7.9% Operating Profit 39,133 49.9% 28,494 33.7% △ 10,639 -27.2% Ordinary Profit 39,899 50.9% 45,741 54.1% 5,842 14.6% Net Profit 30,935 39.4% 33,792 40.0% ...