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.
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).
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.
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.
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.
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.
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.
Insights
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.
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).
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.
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.
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.
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.
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.