CAPCOM Investor Relations

IR Top Page > Financial Information > Management Index

Management Index

  • digg
  • Print this page
(as of May 8, 2014)

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.

  2010/3 2011/3 2012/3 2013/3 2014/3
Net Sales(Millions of yen) 66,837 97,716 82,065 94,075 102,200
Operating Income(Millions of yen) 5,587 14,295 12,318 10,151 10,299
Operating Income to Sales(%) 8.4 14.6 15.0 10.8 10.1
Net Income per Share(Millions of yen) 2,167 7,750 6,723 2,973 3,444
Net Income per Share(yen) 35.71 131.18 116.10 51.64 61.11
Annual Cash Dividends per Share(yen) 35.00 40.00 40.00 40.00 40.00

Net Sales

(Millions of yen)

Structural reforms enacted in the fiscal years ended in March 2003 and 2004 set the stage for stable growth in sales starting in the fiscal year ended March 2005. This was mainly due to the creation of an efficient development structure able to launch popular, highly profitable home video games each year. Although revenues temporarily declined due to the postponed sales of major titles in the fiscal years ended March 2010 to March 2012, sales of core title "Monster Hunter 4" and proprietary Pachislo machines in the fiscal year ended March 2014 resulted in Capcom achieving net sales of 100 billion yen for the first time.

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

Operating Income

(Millions of yen)

Structural reforms have enabled Capcom to sustain consistent growth in operating income. Moreover, the contribution to net sales occurred two years later in the fiscal year ended March 2007 because it took two years to put together a highly profitable lineup after restructuring. However, the impact of precipitous market changes, such as the expansion of mobile contents and digitally download contents (DLC), and the transitional period after next generation consoles were released, have increased earnings volatility. In the fiscal year ended March 2014, despite an 8.6% increase in sales, a lack of core titles mainly in Mobile contents caused profitability to decline, resulting in only a 1.5% increase in profits compared to the previous fiscal year.

Explanation : Consolidated operating income by businesses' operations
Criteria : Bigger, Smaller

Operating Income to Sales

(%)

Operating margins depend primarily on the profitability of the Digital Contents business, which accounts for about 65% of net sales. There was a steady increase in operating margins as well as operating income from the fiscal year ended March 2007 thanks to the establishment of a more efficient developmental organization. However, despite higher sales in the fiscal year ended March 2014, some existing and new titles in the Digital Contents business mobile contents and PC online sub-segments performed poorly, causing profitability to decline and resulting in a slight decrease in consolidated operating margins to 10.1%.

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

Net Income

(Millions of yen)

As a result of structural reforms conducted in the fiscal year ended March 2004, Capcom recognized special loses due to disposition of inventory and provisions for loan loss reserves, resulting in significant losses. In the fiscal year ended March 2010, we recorded a loss on restructuring in accordance with a drastic review of poorly performing businesses as a secondary structural reform to adequately respond to market volatility, resulting in a significant decrease in net income. Furthermore, in the fiscal years ended March 2013 and March 2014, development structure revisions in the Digital Contents business (consumer and mobile contents) led to the recognition of business restructuring expenses resulting in a low level of income for two straight years.

Explanation :Consolidated net income including extraordinary profit and loss
Formula :Operating Profit / Net Sales*100
Criteria : Bigger, Smaller

Net Income per Share

(yen)

For the fiscal years ended March 2003 to 2004, net income (loss) was in the red due to special losses on valuation actually stemming from structural reform, resulting in a significant decline in net income (loss) per share. Since the fiscal year ended March 2005, this has generally been linked to the rise and fall of net income, but there has been a slight impact from exercising conversion rights on convertible bonds and executing share buybacks. In the fiscal years ended March 2013 and 2014, there were declines in net income because of losses caused mainly by measures to strengthen the Digital Contents business and content development operations. As a result, there was a temporary downturn in net income per share.

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

Annual Cash Dividends per Share

(yen)

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 years 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; from the fiscal year ended March 2009, the annual dividend was increased to 35 yen and again up to 40 yen in the fiscal year ended March 2011.

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