NOTE: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
- April 24, 2025
- Press Release
- Company Name: Capcom Co., Ltd.
Representative: Haruhiro Tsujimoto, President and COO
(Code No. 9697 TSE Prime)
Contact: Ryohei Okada, Senior Manager of
Public Relations and Investor Relations Section
Phone Number: +81-6-6920-3623
Capcom Announces Revision of Full-Year Consolidated Earnings Forecast, Variances Between its Non-Consolidated Estimated Earnings and the Previous Fiscal Year’s Actual Results, and a Dividend Forecast Revision (Upward)
Based on recent operational results, Capcom Co., Ltd. (Capcom) has revised the full-year consolidated earnings forecast for the year ended March 31, 2025 (April 1, 2024 to March 31, 2025) that was announced on May 9, 2024. Further, while the company’s non-consolidated earnings forecast is not disclosed, it expects a variance between its non-consolidated estimated earnings and the actual results of the previous fiscal year.
Additionally, the company has revised the dividend forecast for the fiscal year ended March 31, 2025 (April 1, 2024 to March 31, 2025) due to factors including its business performance. Details are as follows:
1. Regarding revisions to the consolidated earnings forecast
i. Revisions to the consolidated earnings forecast for the fiscal year ended March 31, 2025
(April 1, 2024 to March 31, 2025)
(million yen)
Scroll horizontally to view
| Net sales | Operating income | Ordinary income | Net income attributable to owners of the parent | Earnings per share (yen) | |
|---|---|---|---|---|---|
| Previous forecast (A) | 165,000 | 64,000 | 63,000 | 46,000 | 109.98 |
| Revised forecast (B) | 169,600 | 65,700 | 65,600 | 48,400 | 115.72 |
| Variance (B) – (A) | 4,600 | 1,700 | 2,600 | 2,400 | – |
| Variance (%) | 2.8 | 2.7 | 4.1 | 5.2 | – |
| (Reference) Previous year’s results (FY ended Mar. 31, 2024) |
152,410 | 57,081 | 59,422 | 43,374 | 103.71 |
ii. Reason for the revision
During the fiscal year ended March 31, 2025, in our core Digital Contents business, both the major new title Monster Hunter Wilds and catalog titles in major game series enjoyed steady popularity, resulting in expanded sales globally. Additionally, the Arcade Operations business, Amusement Equipments business, and Other Businesses all performed favorably. Altogether, this has led us to expect earnings for this business to exceed our plan. As a result, we expect net sales, operating income, ordinary income, and net income attributable to owners of the parent to all outperform our previously announced forecast.
2. Regarding variances between non-consolidated estimates and the previous fiscal year’s actual results
i. Variances between non-consolidated estimated earnings for the fiscal year ended March 31, 2025 and the previous fiscal year’s actual results
(April 1, 2024 to March 31, 2025)
(million yen)
Scroll horizontally to view
| Net sales | Operating income | Ordinary income | Net income | Earnings per share (yen) |
|
|---|---|---|---|---|---|
| Previous year’s results (A) (FY ended Mar. 31, 2024) |
144,121 | 54,258 | 55,211 | 40,759 | 97.46 |
| Current year’s estimate (B) | 161,200 | 63,300 | 61,600 | 45,500 | 108.79 |
| Variance (B) – (A) | 17,078 | 9,041 | 6,388 | 4,740 | – |
| Variance (%) | 11.9 | 16.7 | 11.6 | 11.6 | – |
ii. Reason for the variances
The reasons for the variances are the same as those for the revision to the consolidated earnings forecast.
3. Regarding revision to the dividend forecast
i. Dividend forecast revision
Scroll horizontally to view
| Dividend per share | |||
|---|---|---|---|
| Record date | Interim dividend End of 2nd quarter |
Year-end dividend End of fiscal year |
Full-year dividend (Total) |
| Previous forecast (May 6, 2024) |
– | ¥18 | ¥36 |
| Revised forecast | – | ¥22 | ¥40 |
| Current year actual | ¥18 | – | – |
| Previous year actual (FY ended Mar. 31, 2024) |
¥27 | ¥43 | ¥70 |
Note:
With an effective date of April 1, 2024, Capcom implemented a stock split in which each share of common stock was split into two shares. For dividends for the year ended March 31, 2024, the above dividends paid were the actual amounts before the respective stock split.
ii. Reason for the revision
Capcom management sees returning profits to shareholders as an issue of the utmost importance; thus, with consideration given to future business developments and changes in the management environment, we strive to pay stable dividends with a consolidated dividend payout ratio of 30% as our basic policy.
Based on the above-stated policy, having considered that we have secured both the necessary investment for enhancing corporate value as well as a healthy financial position, and based on the revisions to the full-year consolidated earnings forecast, from the perspective of shareholder returns based on cash flow, we have decided to revise the year-end dividend forecast for the fiscal year ended March 31, 2025, and increase the dividend by ¥4 per share compared to the ¥18 per share amount of the previous forecast, resulting in a year-end dividend of ¥22 per share.
With this change, and together with the interim divided (¥18 per share), the full-year dividend forecast is ¥40 per share, and the expected consolidated dividend payout ratio is 34.6%.
This matter is scheduled to be brought up for resolution at the 46th Ordinary General Meeting of Shareholders, scheduled to be convened in June 2025.
Note:
1. The average number of shares outstanding during the period used in determining earnings per share include the treasury shares deducted from Capcom’s stock held by The Master Trust Bank of Japan, Ltd. (Stock Grant ESOP Trust Account 76744). Additionally, with an effective date of April 1, 2024, Capcom performed a 2-for-1 stock split of its common stock. Capcom calculated earnings per share assuming that the stock split was implemented with an effective date of the beginning of the fiscal year ended March 31, 2024.
2. The forecasts presented in this document are based on information that was available to Capcom on the announcement date of this release and certain assumptions that are judged to be reasonable. Actual results may significantly differ from this forecast for a number of reasons.
