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Management Index

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(as of May 7, 2015)

The tables and graphs on this page show our sales, operating income and other aspects of performance over the previous years. Even though the home video game industry is highly volatile, our sales and earnings have been growing steadily.

Operating Results

Click on the articles to see the descriptions of the indexes.

  2011/3 2012/3 2013/3 2014/3 2015/3
Net Sales(Millions of yen) 97,716 82,065 94,075 102,200 64,277
Operating Income(Millions of yen) 14,295 12,318 10,151 10,299 10,582
Operating Income to Sales(%) 14.6 15.0 10.8 10.1 16.5
Net Income per Share(Millions of yen) 7,750 6,723 2,973 3,444 6,616
Net Income per Share(yen) 131.18 116.10 51.64 61.11 117.67
Annual Cash Dividends per Share(yen) 40.00 40.00 40.00 40.00 40.00

Net Sales

(Millions of yen)

FY2014
Net Sales

64,277 million yen

37.1% DOWN

Sales grew for four consecutive fiscal years beginning in the fiscal years ended in March 2005 mainly because of an efficient development structure able to produce popular titles every year in the Consumer business. Although sales temporarily declined in from the fiscal years ended March 2010 to March 2012 due to the postponement of title releases, we subsequently engaged in structural reforms including strengthening Consumer digital download sales and expanding the Pachislo development structure, which resulted in achieving sales of 100 billion yen in the fiscal year ended March 2014 for the first time in Capcom's history. However, in the fiscal year ended March 2015, Pachislo machine sales declined due to revisions in model certification methods, resulting in substantially lower sales.

Explanation : Consolidated net sales being generated by businesses' operations
Criteria :Bigger, Smaller

Operating Income/ Operating Margins

(Millions of yen)

(%)

FY2014
Operating Income

10,582 million yen

2.7% UP
FY2014
Operating Margins

16.5%

6.4 point UP

As with sales, structural reforms in the fiscal years ended in March 2004 caused operating income to grow steadily until the fiscal years ended in March 2009.
Despite a temporary decline in income due to postponed sales of major titles in the fiscal years ended in March 2010, we have promoted significant improvements to our earnings composition since in the fiscal years ended in March 2011 aimed at enhancing DLC sales and efficient development investment. During these reforms, until in the fiscal years ended in March 2014 there was little growth in operating income and operating margins. In the fiscal years ended in March 2015, despite a substantial decline in sales, earnings increased due to improved cost ratios, mainly in Consumer and Pachinko & Pachislo business, resulting in dramatically improved earnings and an operating margin of 16.5%.

Explanation : An index for profitability of businesses' operations alone
Formula : Operating Profit / Net Sales*100
Criteria : Higher, Lower

Net Income

(Millions of yen)

FY2014
Net Income

6,616 million yen

92.1% UP

The main reasons for the decline in income during in the fiscal years ended in March 2010, 2013 and 2014 include

  • (1) a complete overhaul to the Amusement Equipments' underperforming profit structure
  • (2) development structure revisions in line with enhanced Consumer business digital download
  • (3) strengthened Mobile Contents business management capabilities in line with development organization integration

which resulted in the recognition of special losses on restructuring and business restructuring expenses.

In the fiscal years ended in March 2015, we began seeing results of development organization reforms conducted during the previous three years and special losses were eliminated, resulting in a significant increase in income.

Explanation :Consolidated net income including extraordinary profit and loss
Criteria : Bigger, Smaller

Net Income per Share

(yen)

FY2014
Net Income per Share

117.67yen

92.6% UP

Since the fiscal year ended in March 2005, net income per share has been nearly linked to fluctuations in net profit for the period, though it has been slightly influenced by the exercising of convertible bonds and the acquisition of treasury stock. Because net income decreased following an extraordinary loss due to structural reforms in the Digital Contents business in the fiscal years ended in March 2013 and March 2014, net income per share had temporarily declined; however, this was resolved in the fiscal year ended in March 2015 and net income per share was greatly improved compared to the previous period.

Explanation : An index for assessing investment value per share
Formula : Net Income / (Number of Shares Issued - Treasury Stock)
Criteria : Bigger, Smaller

Dividend per Share / Dividend Payout Ratio

(yen)

(%)

FY2014
Dividend per Share

40.00 yen

±0
FY2014
Dividend Payout Ratio

34.0

31.5 point DOWN

Capcom has its fundamental dividend policy of providing a continued and stable dividend to the shareholders. In accordance with its policy, an annual dividend of 20 yen per share was paid from the fiscal year ended March 1998 to that ended March 2006. Cash dividend per share for the fiscal year ended March 2007 to 2008 was raised to 30 yen thanks to its stable revenue base brought by its structural reform. Moreover, we continued to incrementally increase dividend payments in line with earnings based on our policy of providing stable dividends aiming for a payout ratio of 30%; from the fiscal year ended March 2009, the annual dividend was increased to 35 yen and again up to 40 yen since the fiscal year ended March 2011.

Explanation : An annual dividend per share
Formula : Dividend / (Number of Shares Issued - Treasury Stock)
Criteria : Bigger, Smaller
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