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Management Index

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(as of August 18, 2016)

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.

  2012/3 2013/3 2014/3 2015/3 2016/3
Net sales (Millions of yen) 82,065 94,075 102,200 64,277 77,021
Operating income (Millions of yen) 12,318 10,151 10,299 10,582 12,029
Operating margin (%) 15.0 10.8 10.1 16.5 15.6
Net income per share (Millions of yen) 6,723 2,973 3,444 6,616 7,745
Net income attributable to owners of the parent (yen) 116.10 51.64 61.11 117.67 137.75
Annual cash dividends per share (yen) 40.00 40.00 40.00 40.00 40.00

Net sales

(Millions of yen)

FY2015
Net sales

77,021 million yen

19.8% UP

The primary reason sales grew for four consecutive fiscal years beginning in the fiscal year ended March 2005 was we had built an efficient development structure able to produce popular titles every year in the Consumer business. Although sales temporarily declined during 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. As a result, we achieved sales of 100 billion yen in the fiscal year ended March 2014 for the first time in Capcom's history.

Revenues significantly declined in the fiscal year ended March 2015 due to a decrease in the number of pachislo machines released following operational regulation changes for model verification; however, net sales recovered in the fiscal year ended March 2016 due to the release of major titles such as “Monster Hunter X (Cross)” in the Consumer sub-segment of Digital Contents, and the “Resident Evil 6” pachislo machine in the Amusement Equipments business, leading to a 20% increase in revenue year-over-year.

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

Operating income/ Operating margin

(Millions of yen)

(%)

FY2015
Operating income

12,029 million yen

13.7% UP
FY2015
Operating margin

15.6%

0.9 point DOWN

As with sales, structural reforms in the fiscal year ended in March 2004 caused operating income to grow steadily until the fiscal year ended March 2009.

Despite a temporary decline in income due to postponed sales of major titles in the fiscal year ended March 2010, we promoted significant improvements to our earnings composition from the fiscal year ended March 2011, aimed at enhancing digital download sales and efficient development investment.

Since the fiscal year ended March 2013, we have made continued advances in efficiency with the aim of increasing the ratio of internally developed titles, strengthening our digital download strategy, and reorganizing development in line with a reinforced 60-month map. As a result, we are on our way to actualizing a system of sustained, high profitability, having raised our operating margin to as high as 16.5% in the fiscal year ended March 2015. In the fiscal year ended March 2016, while profits did increase year-over-year in the Amusement Equipments business, profitability slightly decreased due to a temporary increase in costs for pachislo machines.

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

Net income attributable to owners of the parent

(Millions of yen)

FY2015
Net income attributable to owners of the parent

7,445 million yen

17.1% 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) revisions to development structure accompanying strengthened digital downloads in the Consumer business;
  • (3) integration of our development organization in accordance with strengthening management capabilities in the Mobile Contents business;

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

From the fiscal year ended March 2015, we began seeing the results of development organization reforms conducted over the previous three years, and special losses were eliminated, resulting in two consecutive years of increased profits.

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

Net income per share

(yen)

FY2015
Consolidated net income per share

137.75yen

17.2% UP

Since the fiscal year ended March 2006, net income per share has been nearly linked to fluctuations in net income 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 development organization and profit structure reforms in the Digital Contents and Amusement Equipments businesses in the fiscal years ended March 2010, 2013 and 2014, net income per share had temporarily declined; however, from the fiscal year ended March 2015 onward the fruits of structural reforms began to emerge and net income per share was greatly improved.

Explanation : An index for assessing investment value per share. The larger the figure, the more favorable.
Formula : Net Income / (Number of Shares Issued - Treasury Stock)

Dividend per share / Dividend payout ratio

(yen)

(%)

FY2015
Dividend per share

40.00 yen

±0
FY2015
Dividend payout ratio

29.0

5.0 point DOWN

Capcom’s fundamental dividend policy is to provide a continued and stable dividend to shareholders. In accordance with this, an annual dividend of 20 yen per share was paid from the fiscal year ended March 1998 to that ended March 2006.

The cash dividend per share for the fiscal years ended March 2007 to 2008 was raised to 30 yen thanks to a stable revenue base achieved through structural reform.

Moreover, we increased our dividend to 35 yen from the fiscal year ended March 2009, and then increased it again to 40 yen from the fiscal year ended March 2011. While maintaining a stable dividend, we see a payout ratio of 30% as ideal and will consider gradually raising payouts in accordance with our level of results.

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