Updated Jun 1, 2026 by tinyBuild
Financial · March 27, 2026
Published by tinyBuild
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This financial report details Capcom’s consolidated performance for the third quarter of the fiscal year ending March 31, 2026. The findings indicate significant year-on-year growth in both revenue and profit across all business segments, driven primarily by the sustained performance of catalog titles and strong results in the amusement equipment division. Net sales reached 115.3 billion yen, a 30% increase over the previous year, while operating profit rose 75% to 54.3 billion yen. These results place the company on a favorable trajectory to meet its full-year targets of 190 billion yen in net sales and 730 billion yen in operating profit. The Digital Contents segment remains the primary driver of growth, with unit sales reaching a record 9-month high of 34.6 million units. Catalog titles accounted for 96.4% of these sales, underscoring the long-term value of core franchises such as Resident Evil, Monster Hunter, and Street Fighter. Notably, Monster Hunter Wilds surpassed 11 million cumulative units, while Resident Evil 4 and Street Fighter 6 continued to show steady growth. Digital sales now represent 94.1% of total units, with PC platforms alone accounting for over 55% of the volume. Geographically, overseas markets dominate the business, representing nearly 90% of total unit sales. Beyond software, the Arcade Operations and Amusement Equipments segments reported double-digit growth. Arcade sales rose 12% following the opening of new stores and the expansion of specialty formats, while Amusement Equipments saw a 74% surge in net sales due to the strong performance of smart slot titles like Shin Onimusha 3. The company’s strategic outlook remains focused on leveraging its leading brands through upcoming releases such as Resident Evil Requiem and Monster Hunter Stories 3, alongside cross-media expansions including a new Devil May Cry anime and a live-action Street Fighter film.
The Second Amended and Restated Bylaws of tinyBuild, Inc., effective as of February 2021 and updated through June 2025, establish a comprehensive governance framework for the corporation’s operations, stockholder relations, and board conduct. The primary objective is to define the procedural requirements for corporate decision-making, including the election of directors and the management of stockholder meetings. A quorum for such meetings generally requires a majority of issued shares, though this may be reduced to one-third under specific board-approved conditions. Stockholders are prohibited from taking action by written consent and must adhere to strict notice periods—typically 75 to 105 days—to nominate directors or propose business. The Board of Directors maintains significant authority over corporate strategy and internal administration, including the power to fill vacancies, determine director compensation, and establish committees. Governance protocols permit the board to act via remote communication or unanimous written consent, modernizing the corporation's operational flexibility. Furthermore, the bylaws mandate the indemnification of directors and officers for legal expenses and judgments, provided their actions were taken in good faith. This protection is balanced by exclusions for breaches of loyalty or intentional misconduct, ensuring a standard of fiduciary responsibility. Financial and legal protections are further reinforced through specific provisions regarding stock transfers and litigation. The corporation reserves the right to refuse stock registrations that violate the Securities Act of 1933 and recognizes only registered owners for voting and dividend purposes. Legal disputes are strictly regulated, with the Delaware Court of Chancery designated as the exclusive forum for internal corporate litigation and federal courts identified for Securities Act claims. These provisions, alongside 2025 amendments regarding electronic notices and voting list requirements, ensure the corporation remains compliant with evolving legal standards while centralizing authority within the board.
The 2024 fiscal year represented a strategic pivot for tinyBuild, characterized by a transition toward organic growth and a "1,000-hour game" philosophy. Despite a 22% revenue decline to $34.7 million and an operating loss of $20.4 million, the Group significantly narrowed its net loss from the previous year’s $62.9 million. This financial stabilization was supported by an $11.4 million capital raise and a reduction in impairment charges from $48.1 million to $13.7 million. The Group maintains a debt-free position with a net cash balance of $3.1 million, bolstered by the disposal of non-core assets and a streamlined operational footprint. The core of the current strategy is a shift toward "Own-IP," which now accounts for 77% of revenue, and a robust back catalogue that drives 87% of total sales. By focusing on high-potential franchises like Hello Neighbor and Deadside, the Group aims to mitigate risk through portfolio diversification, ensuring no single project exceeds 10% of the development budget. This data-centric approach is complemented by a multimedia expansion strategy and a vast influencer network that has generated over 5 billion YouTube views, providing a cost-effective alternative to traditional marketing. Operational risks remain centered on high revenue concentration, with the top five titles accounting for 42% of sales, and ongoing geopolitical instability in Ukraine and Russia. The Group has addressed these challenges through staff relocations, "anti-crunch" labor policies, and a more cautious M&A stance that prioritizes "acquihires." Looking toward 2025, the Group is positioned as a going concern with a high-potential pipeline including Kingmakers and Streets of Rogue 2. Governance remains tightly held, with CEO Alex Nichiporchik maintaining a 57.9% stake following a $10 million personal investment, ensuring strong alignment between leadership and long-term shareholder value.
CD Projekt Group presents its FY 2024 earnings, outlining financial performance, operational milestones and a long‑term growth outlook for the studio and its portfolio. The report emphasizes the commercial impact of The Witcher 4, which captured 53 % of press coverage in the 72 hours after The Game Awards 2024, generating 2 150 articles and becoming the most discussed title among peers such as Elden Ring and Final Fantasy. Development capacity expanded to 411 staff, with 650 developers allocated across The Witcher 4, Orion, Sirius, Hadar, the Witcher Remake and several unannounced projects. Revenue for the year fell 20 % year‑on‑year to PLN 1.23 billion, while cost of sales decreased to PLN 377.9 million, delivering a gross profit of PLN 852.2 million and EBIT of PLN 469.0 million. Net profit reached PLN 481.1 million, reflecting a net‑profit margin of roughly 39 % in 2023 and an expected rise to 47.7 % in 2024, with a target of 58.5 % by