CAPCOM

November 21, 2005

Revision of Consolidated and Non-Consolidated Earnings Forecast
for the Fiscal Year Ending March 31, 2006

1. Consolidated Earnings Forecast

(1)

Capcom Co., Ltd. has revised its consolidated earnings forecast for the fiscal year ending March 31, 2006 (From April 1, 2005 to March 31, 2006), which was previously released on May 23, 2005 as follows:


1 Mid-Term Fiscal Period (From April 1, 2005 to September 30, 2005)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Previous Forecast (A)

26,500

700

200

Revised Forecast (B)

27,801

907

3,124

Change (B) - (A)

1,301

207

2,924

Change (Percentage)

4.9

29.6

1462.0


2 Fiscal year (April 1, 2005 to March 31, 2006)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Previous Forecast (A)

70,000

7,400

3,900

Revised Forecast (B)

70,000

7,400

8,900

Change (B) - (A)

-

-

5,000

Change (Percentage)

-

-

128.2


(2)

Reason for the revision
Dissolution of our subsidiary company Status Co., Ltd. was completed and we reviewed the valuation reserve for the deferred tax assets and posted the corporate tax adjustments in our mid-term results as (2,536) million yen. Net Income in the Mid-Term Fiscal Period was therefore influenced from 200 million yen to 3,124 million yen, as an increase of 2,924 million yen. Net Income for Fiscal Year ending March 31, 2006 will be also projected from 3,900 million yen to 8,900 million yen as an increase of 5,000 million yen.


(3)

For Reference
Previous Fiscal Year (From April 1, 2004 to March 31, 2005)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Six-month period ending Sep. 30, 2004

28,537

1,486

543

For Year ending March 31, 2005

65,895

7,399

3,622


2. Non-Consolidated Earnings Forecast

(1)

Capcom Co., Ltd. has revised its non-consolidated earnings forecast for the fiscal year ending March 31, 2006 (From April 1, 2005 to March 31, 2006), which was previously released on May 23, 2005 as follows:


1 Mid-Term Fiscal Period (From April 1, 2005 to September 30, 2005)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Previous Forecast (A)

21,000

1,100

400

Revised Forecast (B)

21,774

1,319

3,516

Change (B) - (A)

774

219

3,116

Change (Percentage)

3.7

19.9

779.0


2 Fiscal year (April 1, 2005 to March 31, 2006)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Previous Forecast (A)

53,000

5,600

2,900

Revised Forecast (B)

53,000

5,600

7,600

Change (B) - (A)

-

-

4,700

Change (Percentage)

-

-

162.1


(2)

Reason for the revision
Dissolution of our subsidiary company Status Co., Ltd. was completed and we reviewed the valuation reserve for the deferred tax assets and posted the corporate tax adjustments in our mid-term results as (2,423) million yen. Net Income in the Mid-Term Fiscal Period was therefore influenced from 400 million yen to 3,516 million yen, as an increase of 3,116 million yen. Net Income for Fiscal Year ending March 31, 2006 will be also projected from 2,900 million yen to 7,600 million yen as an increase of 4,700 million yen.


(3)

For Reference
Previous Fiscal Year (From April 1, 2004 to March 31, 2005)

(Millions of Yen)

 

Net Sales

Ordinary Income

Net Income

Six-month period ending Sep. 30, 2004

19,672

1,363

627

For Year ending March 31, 2005

47,542

5,542

2,757


Note: These forecast are based on the Company's current assumptions and beliefs in light of the information currently available to it, and involve known and unknown risks and uncertainties. The Company's actual results may differ materially from above mentioned forecast.



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