{"id":21657,"date":"2023-02-16T13:36:18","date_gmt":"2023-02-16T04:36:18","guid":{"rendered":"https:\/\/www.capcom.co.jp\/ir\/?page_id=21657"},"modified":"2023-12-08T17:32:06","modified_gmt":"2023-12-08T08:32:06","slug":"ceo","status":"publish","type":"page","link":"https:\/\/www.capcom.co.jp\/ir\/english\/data\/oar\/2022\/ceo.html","title":{"rendered":"CEO Commitment"},"content":{"rendered":"\n<div class=\"oarBnWrapper\">\n        <div class=\"oarBnBody oar2022\">\n            <div class=\"fixedHeader\">\r\n\r\n        <section class=\"fixedTop\">\r\n\r\n            <div class=\"container\">\r\n                <h1><a href=\"\/ir\/english\/data\/oar\/2022.html\"><img decoding=\"async\"\r\n                            src=\"\/ir\/english\/assets\/images\/data\/oar\/2022\/top\/top_title01.svg\"\r\n                            alt=\"INTEGRATED REPORT 2022\"><\/a><\/h1>\r\n\r\n                <div class=\"ticker\">\r\n                    <img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2022\/top\/top_title02.svg\"\r\n                        alt=\"Invested in People, Committed to Growth\">\r\n                <\/div>\r\n                <!--\/\/ticker-->\r\n\r\n            <\/div>\r\n            <!--\/\/container-->\r\n        <\/section>\r\n        <!--\/\/section-->\r\n\r\n\r\n        <section class=\"globalnav\">\r\n\r\n            <ul>\r\n                <li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_02.pdf\" target=\"_blank\">Value Creation <br class=\"is-pc\">Story (PDF)<\/a><\/li>\r\n\r\n                <li><span class=\"openPopup\">CEO<br>Commitment<\/span>\r\n                    <div class=\"navPopup\">\r\n                        <div class=\"container\">\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li class=\"txtB txt18\"><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html\">CEO\r\n                                                Commitment (Top)<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                            <\/nav>\r\n\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec01\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->1.\r\n                                                Aiming to be #1: delivering the world\u2019s best content\r\n                                                \u201cFrom Osaka, to the world\u201d<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec02\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->2.\r\n                                                Game industry forecast<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec03\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->3.\r\n                                                Investing in human resources and development\r\n                                                equipment to create world-class games<\/a><\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n                            <\/nav>\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec04\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->4.\r\n                                                The strongest IP assets in our history and the\r\n                                                capabilities to continue creating high-quality content<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec05\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->5.\r\n                                                Increasing corporate value by building healthy\r\n                                                relationships and a sturdy framework<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/ceo.html#sec06\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->6.\r\n                                                Strengthening our corporate governance structure<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n                            <\/nav>\r\n\r\n                        <\/div>\r\n                        <!--\/\/container-->\r\n                    <\/div>\r\n                    <!--\/\/navPopup-->\r\n                <\/li>\r\n\r\n\r\n\r\n                <li><span class=\"openPopup\">COO Growth<br>strategy<\/span>\r\n                    <div class=\"navPopup\">\r\n                        <div class=\"container\">\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li class=\"txtB txt18\"><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html\">COO Growth\r\n                                                strategy (Top)<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                            <\/nav>\r\n\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec01\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                1\uff1aAccelerating global market expansion<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec02\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                2\uff1aContinue producing the world\u2019s best content<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec03\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                3\uff1aLong-term sales and improved profitability\r\n                                                in the global market<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n                            <\/nav>\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec04\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                4\uff1aDiversification and streamlining of sales\r\n                                                measures with a shift to digital business<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec05\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                5\uff1aBrand expansion (1)\r\n                                                \u2013Strengthening coordination with\r\n                                                peripheral businesses<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec06\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                6\uff1aBrand expansion (2)\r\n                                                -Strengthening our licencing, eSports,\r\n                                                movie businesses<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n                            <\/nav>\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html#sec07\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Measure\r\n                                                7\uff1aSupport for new areas,\r\n                                                such as cloud gaming and the metaverse<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n                            <\/nav>\r\n                        <\/div>\r\n                        <!--\/\/container-->\r\n                    <\/div>\r\n                    <!--\/\/navPopup-->\r\n                <\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2022\/cho.html\">CHO <br>Commitment<\/a><\/li>\r\n\r\n\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2022\/cfo.html\">CFO <br>Commitment<\/a><\/li>\r\n\r\n\r\n\r\n                <li><span class=\"openPopup\">Development<\/span>\r\n                    <div class=\"navPopup\">\r\n                        <div class=\"container\">\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li class=\"ntitle\"><a href=\"javascript:void(0)\">Development<\/a><\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                            <\/nav>\r\n\r\n                            <nav>\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/devtop.html\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->The Head of\r\n                                                Development Discusses Strategy<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n\r\n                                <div class=\"unit\">\r\n                                    <ul>\r\n                                        <li><a href=\"\/ir\/english\/data\/oar\/2022\/development.html\">\r\n                                                <!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->The Head of\r\n                                                Technical Research Discusses Development<\/a>\r\n                                        <\/li>\r\n                                    <\/ul>\r\n                                <\/div>\r\n                                <!--\/\/unit-->\r\n\r\n                            <\/nav>\r\n                        <\/div>\r\n                        <!--\/\/container-->\r\n                    <\/div>\r\n                    <!--\/\/navPopup-->\r\n                <\/li>\r\n\r\n\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2022\/comment.html\">Corporate <br class=\"is-pc\">Governance<\/a><\/li>\r\n\r\n            <\/ul>\r\n\r\n        <\/section>\r\n        <!--\/\/section-->\r\n\r\n    <\/div>\r\n    <!--\/\/fixedHeader-->\r\n\r\n    <div id=\"hideGnav\"><\/div>\n\n            <main id=\"rs_read\" class=\"ceo oarMain\">\n                <div class=\"ceo_header\">\n                    <div class=\"visual\">\n                        <div class=\"fvGroup is-ceo\">\n                            <div class=\"imageBlock\">\n                                <img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2022\/ceo\/ceo_mv01.png\" alt=\"Kenzo Tsujimoto\">\n                            <\/div>\n                            <div class=\"textBlock\">\n                                <h2><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2022\/ceo\/ceo_mv02.svg\" alt=\"CEO COMMITMENT\">\n                                <\/h2>\n                                <div class=\"titleBox\">\n                                    <p class=\"title\">Rooted in our unwavering\n                                        philosophy, we are generating\n                                        sustainable corporate value with\n                                        our world-class development\n                                        capabilities and management\n                                        foundation.\n                                    <\/p>\n                                    <p class=\"name mT25\">Kenzo Tsujimoto<\/p>\n                                    <p class=\"position mT10\">Chairman and\n                                        Chief Executive Officer (CEO)<\/p>\n                                <\/div>\n                            <\/div>\n                        <\/div>\n\n                        <!--\/\/titlebox-->\n\n                        <div class=\"container mT45\">\n                            <p class=\"stitle\">To everyone battling this global challenge <\/p>\n                            <p class=\"p mT15\">\n                                Today, in 2022, the public and private sectors have\n                                been moving forward in assessing risks while working\n                                hard to resume and normalize socioeconomic\n                                activities, however COVID-19 continues to affect\n                                every aspect of our lives. The world also faces a\n                                myriad of issues that society must contend with, such\n                                as the invasion of Ukraine launched by Russia in\n                                February 2022. Unlike vaccines and other medicines,\n                                or infrastructures, such as networks, entertainment is\n                                not essential to our daily lives. However, in times like\n                                these, I believe that entertainment can bring people\n                                some joy and hope.\n                            <\/p>\n                            <p class=\"p mT15\">It is my hope that our business activities bring\n                                the people of the world the energy to fight through\n                                whatever difficulties they are facing.<\/p>\n\n                        <\/div>\n                        <!--\/\/container-->\n                    <\/div>\n                    <!--\/\/visual-->\n                <\/div>\n                <!---\/\/ceo_header-->\n\n                <div class=\"container\">\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec01\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>1<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Corporate philosophy and culture <span class=\"title-line\">\u2013\u2013\u2013<\/span> Our unwavering philosophy since the company\u2019s\n                                inception\n                            <\/p>\n                            <p class=\"title\">\n                                Aiming to be #1: delivering the world\u2019s best content\n                                \u201cFrom Osaka, to the world\u201d\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        Since Capcom\u2019s inception, our unwavering\n                        corporate philosophy has been to create a culture\n                        of entertainment through the medium of games by\n                        developing highly creative content that excites and\n                        stimulates your senses and brings a smile to your face.\n                        This corporate philosophy represents the company\u2019s\n                        social significance, inspiring our more than 3,500\n                        people throughout the Capcom Group. \u201cGames are\n                        luxury items, not essentials. That is why we need\n                        world-class brands that capture people\u2019s attention.\u201d\n                        I still believe this to be true even today, 50 years since\n                        I jumped into the world of entertainment.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/company\/philosophy.html\" rel=\"noopener\">Corporate Philosophy<\/a>\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Based on this corporate philosophy, Capcom\n                        has produced more than 700 games to date, and our\n                        games are played in over 220 countries and regions,\n                        outnumbering the membership of even the United\n                        Nations. In other words, our content is enjoyed\n                        throughout the world. Games are not essential\n                        items to our daily life; rather they are luxury items.\n                        Nevertheless, they are enjoyed the world over as\n                        items that enrich our lives and add excitement.\n                        Looking at market data, the global gaming population\n                        is estimated to be approximately 3 billion people.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Meanwhile, there are people in the world who\n                        cannot enjoy games due to disasters or conflict. It is\n                        my sincere hope that all of the people of the world\n                        will soon be able to enjoy games without worry, and\n                        at the same time, we would like to contribute in our\n                        own way to resolving the issues that people face.\n                    <\/p>\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec02\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>2<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Management Policy <span class=\"title-line\">\u2013\u2013\u2013<\/span><br class=\"is-pc\">\n                                Sustainable growth through creating and continuously leveraging our content\n                            <\/p>\n                            <p class=\"title\">\n                                Game industry forecast\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        Technology will continue to progress unceasingly in\n                        the marketplace. Game development, promotions,\n                        infrastructure, and various other elements will also\n                        evolve along with it. In order to continue developing\n                        high-quality games, one of Capcom\u2019s greatest\n                        strengths, it is essential that we build a system that\n                        allows us to consistently stand at the forefront of\n                        the ever-evolving industry and nimbly respond to\n                        new technologies and services. In April 2022, we\n                        reorganized our human resources-related\n                        departments and revised our system of compensation\n                        as part of our human resources investment policy.\n                        We are making steady investments for the future of\n                        Capcom for continued growth alongside the market.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>Management direction\u2014\n                            Handling the global trend toward digital<\/strong><br>\n                        In corporate management, it is important to always\n                        think about things in terms of the future. For example,\n                        nearly 10 years ago I gave an interview to a business\n                        magazine where I said, \u201cif we are able to sell world-class quality products at a low price\n                        digitally, we will\n                        see even greater improvement in our performance.\u201d\n                        At the time, disc sales were the mainstream and there\n                        were very few customers who purchased digital\n                        versions, so that idea may have been inconceivable\n                        to most people. Also, because disc sales were the\n                        mainstream, pirated versions of games prevailed in\n                        most developing countries, but I also spoke about\n                        how that \u201cwill promote further brand penetration if\n                        we look at it in the long term.\u201d As a result, now that\n                        digital sales have spread throughout the world, of the\n                        700 titles we have created, we are selling over 300 in\n                        more than 220 countries and regions, a number that\n                        exceeds that of the United Nations\u2019 membership.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Creating top-class content not only produced\n                        this fiscal year\u2019s performance, but it will be the tool\n                        that paves the way for our future. That is precisely\n                        why our management policy is to (1) create exciting,\n                        world-class content (IPs), and (2) maximize earnings\n                        by leveraging our rich library of IPs across multiple\n                        platforms and media, while (3) maintaining these\n                        policies to become a company of continuous,\n                        sustainable growth.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/oar\/2022\/coo.html\" rel=\"noopener\">The COO\u2019s discussion of growth strategies<\/a>\n                    <\/p>\n\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec03\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>3<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Management strategy <span class=\"title-line\">\u2013\u2013\u2013<\/span> <br class=\"is-pc\">Building a system to enable sustainable growth\n                            <\/p>\n                            <p class=\"title\">\n                                Investing in human resources and development\n                                equipment to create world-class games\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        With 50 years of management experience in this\n                        industry, I have a keen awareness of the vital\n                        importance of technology that meets the highest\n                        standards in order to create the world\u2019s most exciting\n                        games. We have strengthened hiring of newly\n                        graduated developers with an eye on the expanding\n                        game market and evolution of technology. In addition,\n                        we have access to world-leading development\n                        equipment both in-house and externally, and are\n                        vigorously investing in development equipment so\n                        that our creators can perform to their maximum\n                        potential. These efforts have been successful thus far\n                        and helped us achieve nine consecutive years of profit\n                        growth, but to overcome the hurdle of profit growth\n                        that rises every year and continue growing even\n                        more, we must further promote our investment in\n                        human resources.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Therefore, as part of our enhanced human\n                        resources investment strategy, in April 2022, we\n                        revised our compensation system, created the\n                        position of CHO, and reorganized our human\n                        resources-related departments. Our CHO will provide\n                        a detailed explanation, but we will continue hiring\n                        more than 150 employees annually while further\n                        enhancing the work environment to build an\n                        organization that allows our employees to\n                        demonstrate their creativity more than ever.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/oar\/2022\/cho.html\" rel=\"noopener\">The CHO Discusses Our Human Resources Strategy<\/a>\n                    <\/p>\n\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec04\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>4<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Business model and medium-term management goal <span class=\"title-line\">\u2013\u2013\u2013<\/span><br class=\"is-pc\">Advancing strategies that leverage our strengths\n                            <\/p>\n                            <p class=\"title\">\n                                The strongest IP assets in our history and the\n                                capabilities to continue creating high-quality content\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        As of the fiscal year ended March 2022, Capcom\n                        has achieved nine consecutive years of increased\n                        operating income, and record-high profits in each of\n                        the last five fiscal years.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        We will continue to create greater corporate value\n                        as we pursue our management goal of increasing\n                        operating income by 10% each fiscal year going\n                        forward.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Given the highly volatile structure of our\n                        industry, in which a major hit title one year can cause\n                        a comparative performance dip in the next, Capcom\n                        has made achieving stable profit growth each year an\n                        important issue for us in meeting the expectations of\n                        our shareholders, investors, and other stakeholders\n                        involved in our business.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In order to stably increase profits, and among\n                        growing concerns about the environmental impact of\n                        corporate activities in recent years, we have shifted\n                        from a business model that focused on disc sales\n                        to one based primarily on download sales with an\n                        eye toward strengthening the reach of our content\n                        globally.\n\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        As a result, Capcom\u2019s sales territory has\n                        expanded to include almost all countries and regions\n                        with a few exceptions, and we sell over 300 different\n                        titles annually.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        I believe two of our greatest strengths are (1)\n                        possessing numerous, popular IPs that have achieved\n                        global brand status, and (2) the developmental and\n                        technological capabilities to continue creating\n                        world-class, quality games.\n\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>Challenges to sustainable growth<\/strong><br>\n                        According to reports from various external\n                        organizations, it is expected that the game market\n                        will continue to grow, and we can see that first-hand\n                        at Capcom through our business activities within\n                        that industry. As mentioned earlier, we sell our game\n                        software in more than 220 countries and regions,\n                        and from looking at our internal sales data, I believe\n                        the number of users is sure to increase going\n                        forward.\n\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>1. Human resources investment strategy<\/strong><br>\n                        In recent years, our revenue foundation has been\n                        shifting from the new titles we release in a given\n                        fiscal year to our catalog of previously released titles.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Within our discussion of what is needed to\n                        sustainably expand this cycle, we determined that\n                        above all else, we need to review and reconstruct our\n                        human resources investment strategy. This strategy is\n                        based on a discussion of what is necessary to secure\n                        and train quality personnel going forward beyond the\n                        revision of the compensation system.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In fiscal 2021, we began by working on revisions\n                        of our compensation system. Capcom traditionally\n                        had a compensation system based on performance,\n                        such as incentive bonuses in the development\n                        division, but under this old system issues such as a\n                        lack of growth in annual income per individual\n                        employee became apparent. We have revised our\n                        compensation system, resulting in an average 30%\n                        increase in annual compensation. Going forward,\n                        in addition to the development division, we also\n                        have to make progress in revising work styles in our\n                        operational, sales, and administrative divisions.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        When we look to the future, in order to\n                        produce superior content and distribute it to even\n                        more people around the globe, the entire company\n                        has to transform into a truly global enterprise, and\n                        our human resources system must take into account\n                        all our employees from all over the world. I believe\n                        we must establish an organizational structure with\n                        various systems, including benefits, to meet the needs\n                        of employees of various\n                        nationalities.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/oar\/2022\/cho.html\" rel=\"noopener\">The CHO Discusses Our Human Resources Strategy<\/a>\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>2. Responding to changes in user\n                            preferences and technological innovation<\/strong><br>\n                        As the market expands, game users will be offered a\n                        wider variety of ways to play, and game purchasing\n                        channels will diversify. What will become important\n                        here is what users prefer amid the various options\n                        offered. Therefore, in addition to macro data, such\n                        as past sales data, it will be important to learn about\n                        individual user trends.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In addition, the game industry is a treasure\n                        trove of cutting-edge technology, constantly\n                        providing the world with entertainment that uses\n                        the most advanced technology, including online\n                        battles, VR, AR, and 3D. This trend has only gained\n                        momentum with GAFA\u2019s entry into the market, and\n                        the game industry is undergoing an unprecedented\n                        transformation. Under such circumstances, we need\n                        to attract talent who possess the most advanced\n                        skills and accurately predict and respond to\n                        cutting-edge technological development trends in\n                        order to create games that will become global hits.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>3. Challenging ourselves to reach\n                            100 million units in annual sales,\n                            expanding and strengthening our\n                            global brand<\/strong>\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        It is said that the population of the world will reach 8\n                        billion in November 2022 and that there are already\n                        3 billion game users.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In fiscal 2021, our annual sales totaled 32.6 million\n                        units. That is a mere 1.1% of the worldwide market\n                        share. Although Capcom\u2019s game content is sold in\n                        almost every country and region around the world,\n                        depending on the country and region, we cannot say\n                        that Capcom has penetrated the market as a game\n                        brand. In order to reach 100 million units in annual\n                        sales, it is important that both our game brands and\n                        our corporate brand are strengthened and achieve\n                        penetration in the market in these countries. Three\n                        years ago, we restructured the departments related\n                        to marketing strategy and separated them from the\n                        sales division, instead positioning them as planning\n                        and strategy departments. We established a data\n                        analysis section in this department and had them start\n                        organizing past sales data and using it to simulate\n                        future sales volume, which has generally produced\n                        the desired results. This is one example of the\n                        initiatives Capcom is implementing in our digital\n                        transformation (DX). As we make progress with this\n                        initiative, we will be able to grasp sales trends in each\n                        country and region and use them in our measures\n                        to expand.\n                    <\/p>\n                    <p class=\"mT35 p\">\n                        In addition, to strengthen our brand across the\n                        world, we will reinforce coordination between our\n                        game content and our peripheral businesses, such\n                        as eSports, movies, and licensing.\n                    <\/p>\n                    <p class=\"mT30 txtC\"><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2022\/ceo\/ceo_cont01.svg\" alt=\"Capcom performance trend\"><\/p>\n\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec05\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>5<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Sustainability <span class=\"title-line\">\u2013\u2013\u2013<\/span> Initiatives geared toward sustainable growth\n                            <\/p>\n                            <p class=\"title\">\n                                Increasing corporate value by building healthy\n                                relationships and a sturdy framework\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        <strong>1. Sustainable growth achieved\n                            by a game company<\/strong><br>\n                        I believe that building a healthy relationship with\n                        stakeholders through business activities leads to\n                        improved corporate value. Therefore, focusing\n                        particularly on \u201cS\u201d (social) and \u201cG\u201d (corporate\n                        governance) of ESG, I recognize our critical issues as\n                        (1) developer numbers, (2) diversity, (3) support for\n                        education, and (4) the ratio of external directors.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In addition, we have started to shift our\n                        awareness to the next stage of our company in light\n                        of our business performance growth in recent years.\n                        We will continue to promote ESG initiatives based\n                        on the SDG goals of creating a sustainable society\n                        and strive for sustainable growth while building a\n                        relationship of trust with our stakeholders.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_08.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"20\">ESG\n                            Highlights (PDF:\n                            211KB)<\/a><\/p>\n                    <p class=\"mT25 p\">\n                        <strong>2. Game company environmental measures<\/strong><br>\n                        Capcom\u2019s efforts to digitalize game sales not only\n                        improve profitability, but also reduce our\n                        environmental footprint by removing package\n                        manufacturing from the equation. Meanwhile, in\n                        order to promote better work-life balance among\n                        our employees, we also encourage employees to\n                        live closer to their workplaces by arranging company\n                        housing and bicycle parking areas. We can expect\n                        this to reduce the emission of greenhouse gases\n                        incurred by long commutes. In June 2022, we\n                        introduced CO<sub>2<\/sub>-free electricity generated by\n                        renewable energy sources in the buildings that we\n                        own in the Kansai region. Our work in selling digital\n                        content itself has a relatively low environmental\n                        impact compared to other businesses, but we should\n                        do whatever we can to reduce our environmental\n                        footprint as much as possible. Mitigating climate\n                        change is an issue that requires the cooperation of\n                        everyone who inhabits the planet, and we will\n                        continue to promote environmental preservation\n                        initiatives.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>3. Building a healthy relationship between\n                            games and society<\/strong><br>\n                        Although there is a need for games in society, there\n                        are also some challenges, such as expensive\n                        in-game purchases made by minors and game\n                        addiction. Our purpose is to make people happy\n                        through games. Making people unhappy because\n                        of games is certainly not our intention. We are\n                        aware that these are major issues for our industry as\n                        a whole, and each company is cooperating as part\n                        of an industry organization to make efforts to (1)\n                        establish guidelines and educate people about\n                        them, (2) share problems and actual examples\n                        among member companies, and (3) exchange\n                        information on a regular basis with parents,\n                        educators, consumer groups, and government\n                        administrators.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_customer_01.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"20\">Relationship\n                            with Customers (PDF:\n                            123KB)<\/a><\/p>\n                    <p class=\"mT15 p\">\n                        In addition, since 2004, we have independently\n                        continued to be involved in game-related\n                        educational support activities as an initiative to\n                        alleviate social concerns surrounding games.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_culture_01.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"20\">Promoting Healthy Relationships with Games (PDF: 54KB)<\/a><\/p>\n                    <p class=\"mT25 p\">\n                        <strong>4. Commitment to regional communities<\/strong><br>\n                        The promotion of our Single Content Multiple\n                        Usage strategy provides society with a wide range\n                        of benefits. Specifically, these include the use of\n                        popular Capcom IP in local revitalization activities to\n                        support (1) economic development, (2) cultural\n                        development, (3) awareness for crime prevention\n                        and (4) awareness of elections. We are achieving\n                        quantitative social outcomes through solving the\n                        common problem of attracting and appealing to\n                        the youth demographic.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        In addition, as a further contribution to society,\n                        we will actively provide support for the promotion\n                        of social welfare, sports, technology, and culture.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_local_01.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"20\">Relationship with Regional Communities (PDF: 264KB)<\/a><\/p>\n                    <p class=\"mT25 p\">\n                        <strong>5. Commitment to employees<\/strong><br>\n                        I recognize the importance of diversity for creating\n                        content that will resonate globally, thus Capcom\n                        promotes the retention and training of talented\n                        human resources without regard for gender or race.\n                        We continue to make efforts to improve the workplace\n                        environment, and in 2017, we implemented an on-site\n                        daycare called \u201cCapcom Juku\u201d to provide employees\n                        with children an environment in which they can work\n                        with greater peace of mind.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_worker_01.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"20\">Relationship with Employees (PDF: 268KB)<\/a><\/p>\n                    <p class=\"mT15 p\">\n                        In addition, in terms\n                        of compensation, we made various revisions in April\n                        2022, raising the average base salaries 30% and\n                        introducing an ESOP trust that grants company stock\n                        to employees in an effort to increase motivation.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>6. Continued anti-fraud measures\n                            for stable growth<\/strong><br>\n                        As a company that handles data, it is important\n                        that we protect its value and associated rights. We\n                        continue to constantly detect and delete pirated\n                        versions of games and illegal video content from the\n                        internet. In recent years, the risk of cyber-attacks is\n                        also growing as digital network technology becomes\n                        more widespread. In light of the unauthorized access\n                        to our network in 2020, we have established the\n                        Information Technology Security Oversight\n                        Committee, and continue to promote ever-stronger\n                        countermeasures.\n                    <\/p>\n\n\n                    <div class=\"contBorder\"><\/div>\n                    <a name=\"sec06\" class=\"anchorTarget\"><\/a>\n                    <div class=\"h3Group is-ceo\">\n                        <div class=\"numBlock\">\n                            <span>6<\/span>\n                        <\/div>\n                        <div class=\"titleBlock\">\n                            <p class=\"subtitle\">\n                                Governance <span class=\"title-line\">\u2013\u2013\u2013<\/span> Creating a sustainable system prioritizing objectivity\n                            <\/p>\n                            <p class=\"title\">\n                                Strengthening our corporate governance structure\n                            <\/p>\n                        <\/div>\n                    <\/div>\n                    <p class=\"mT35 p\">\n                        Sound governance is essential for achieving the\n                        sustainability I discussed in the previous section.\n                        Specifically, with myself, Capcom\u2019s founder, as\n                        CEO and my oldest son as COO, we can avoid\n                        management decision risks by sufficiently leveraging\n                        the supervisory function of the external directors,\n                        and with unique mechanisms for highly transparent\n                        and rational decision making built by the Board of\n                        Directors.\n                    <\/p>\n                    <p class=\"txt20 txtB mT55\">\n                        <span class=\"radiusTitle is-black\">Mechanism 1<\/span>\n                        Management visualization based on numbers\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In order to conduct integrated management, I require\n                        that materials (documents) used for decision-making\n                        are, in principle, quantitatively focused, in other words,\n                        we are employing management visualization. These\n                        materials provide comparisons by net sales, year-on-year performance and against earnings\n                        forecasts,\n                        which make it easier to identify problems by enabling\n                        us to confirm the details in multiple ways.\n                    <\/p>\n                    <p class=\"txt20 txtB mT55\">\n                        <span class=\"radiusTitle is-black\">Mechanism 2<\/span>\n                        Continued governance reforms\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        For the past 23 years, Capcom has executed a variety\n                        of governance reforms.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Since introducing the external director system\n                        in the fiscal year ended March 31, 2002, external\n                        directors have increased to account for 46.7% of the\n                        Board of Directors. External director appointment\n                        criteria have not changed since the system was\n                        introduced, but in short, we appoint directors with\n                        insight who are highly proficient specialists in their\n                        respective areas outside the gaming industry, capable\n                        of objectively making decisions regarding Capcom\u2019s\n                        management and business activities. With the\n                        avoidance of business investment risk as a priority\n                        issue, Capcom appoints individuals who are able to\n                        provide sound opinions, especially when earnings\n                        are subpar, who are not intimidated by the company\n                        founder and are able to determine validity from the\n                        general public\u2019s point of view.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In June 2022, we increased the number of external\n                        directors by two in order to further enhance the\n                        human resource capabilities of management and\n                        the supervisory function of the Board of Directors.\n                    <\/p>\n                    <p class=\"rlink is-ceo txtR mT25\"><a href=\"\/ir\/english\/data\/oar\/2022\/comment.html\" rel=\"noopener\">Key\n                            commentary on our human resources strategy from our external directors<\/a><\/p>\n                    <p class=\"txt20 txtB mT55\">\n                        <span class=\"radiusTitle is-black\">Mechanism 3<\/span>\n                        Creating a business management system\n                        and grooming successors\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        For the last 39 years, I have built the Capcom\n                        framework based on my own management\n                        philosophy, and it is also my responsibility as the\n                        founding executive to ensure my successors have a\n                        proper understanding of its mechanisms and are\n                        able to execute them. Plans for my successor are\n                        being made through discussions with the Nomination\n                        and Remuneration Committee; if we can prepare\n                        my successor and enmesh that with our corporate\n                        philosophy and well-structured governance, we can\n                        achieve stable growth.\n                    <\/p>\n                    <p class=\"stitle mT35\">Rewarding long-term shareholders with 32 consecutive years\n                        of returns since Capcom\u2019s listing and record-high dividends<\/p>\n                    <ul class=\"imgGroup mT25\">\n                        <li class=\"is-70\">\n                            <img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2022\/ceo\/ceo_cont02.svg\" alt=\"Dividends per share since public listing\">\n                        <\/li>\n                        <li class=\"is-30\">\n                            <img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2022\/ceo\/ceo_cont03.svg\" alt=\"Total shareholder return (TSR)\">\n                        <\/li>\n                    <\/ul>\n                    <p class=\"mT15 p\">\n                        In closing I would like to share my ideas regarding\n                        our capital policy, which is an important element of\n                        the relationship I have with our shareholders.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>1. Basic policy regarding dividends<\/strong><br>\n                        During my 39 years of management since founding\n                        Capcom, my philosophy has been to pursue stable\n                        corporate growth and reward long-term shareholders\n                        with steady increases in dividend payments despite\n                        the constantly changing nature of the game industry.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        I have already mentioned the factors critical for\n                        sustainably enhancing corporate value; as shareholder\n                        returns are also an important management issue,\n                        dividends are determined with consideration for\n                        future business development and changes in the\n                        management environment. However, as the business\n                        environment is undergoing significant changes, it is\n                        also necessary to consider investment geared toward\n                        sustainable growth.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        In consideration of these factors, Capcom\u2019s\n                        basic shareholder return policy aims to (1) enhance\n                        corporate value (market capitalization) through\n                        investment in growth, (2) continue paying dividends\n                        (30% payout ratio) while striving for stable dividends\n                        and (3) flexibly acquire treasury stock to increase the\n                        value of earnings per share.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        The reason I think both the payout ratio and\n                        stable dividends are important is, for example,\n                        because a sudden decrease or cessation of dividends\n                        can be risky for pensioners who depend on dividends\n                        to cover part of their lifestyle expenses. Regular\n                        revenue leads to the establishment of a stable\n                        lifestyle plan for the future. We also receive requests\n                        for stability from the long-term investors who manage\n                        those pensions.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        Capcom shareholders represent all types of\n                        people, and I assume some of them may be facing\n                        these kinds of issues, which is why we have never\n                        once failed to provide dividends during the 32 years\n                        since we went public in 1990. If we consider the split\n                        at the fiscal year ended March 2022, we have seen\n                        five consecutive years of increased dividends.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        As a result, the total shareholder return (TSR),\n                        including the rise in stock price over the last five\n                        years, was +572.0%, exceeding TOPIX (+144.3%) and\n                        positioning Capcom ahead of any of our industry\n                        competitors.\n                    <\/p>\n                    <p class=\"mT25 p\">\n                        <strong>2. Dividends for this fiscal year and the next <\/strong><br>\n                        For the next fiscal year (ending March 2023), we plan\n                        to pay an annual dividend of 46 yen per share, which\n                        represents a payout ratio of 28.5%. As the payout ratio\n                        is less than 30%, we will review the dividend amount\n                        when the consolidated earnings forecast for the next\n                        fiscal year becomes clearer.\n                    <\/p>\n                    <p class=\"mT15 p\">\n                        As a senior executive with many long years of\n                        experience in the game industry, my goal is to\n                        increase market capitalization and achieve corporate\n                        growth exceeding that of the past 39 years in order\n                        to continue meeting the expectations of Capcom\n                        shareholders, investors, and all other stakeholders.\n                    <\/p>\n                    <div class=\"mT35 signatureGroup\">\n                        <p class=\"text\">Kenzo Tsujimoto<br>Chairman and\n                            Chief Executive Officer (CEO)<\/p>\n                        <img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2022\/ceo\/ceo_name01.svg\" alt=\"Kenzo Tsujimoto\">\n                    <\/div>\n                <\/div>\n                <!--\/\/container-->\n\n            <\/main>\n\n    \n\t\n<div class=\"contList\">\r\n<div class=\"contents\">\r\n<h3>CAPCOM INTEGRATED REPORT 2022<\/h3>\r\n<h4 class=\"mT30 comppdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_01.pdf']);\" rel=\"noopener\">\r\nPDF (Complete version) <span class=\"pdfmt\">(PDF: 12.2MB \/ 104 pages)<\/span><\/a><\/h4>\r\n<div class=\"sepbox\">\r\n<h4 class=\"mT15 separate\">PDF (by section)<\/h4>\r\n<div class=\"contBox mT15\">\r\n<div class=\"col heightLine-1\">\r\n<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_02.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_02.pdf']);\" rel=\"noopener\">Value Creation Story <br> \r\n<span>(PDF: 3.5MB \/ 24 pages)<\/span><\/a>\r\n<\/h4>\r\n<ul class=\"mT10\">\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_01.pdf']);\" rel=\"noopener\">Create Financial and Non-Financial Value<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_02.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_02.pdf']);\" rel=\"noopener\">Corporate Philosophy<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_03.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_03.pdf']);\" rel=\"noopener\">Value Creation Model<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_04.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_04.pdf']);\" rel=\"noopener\">History of Value Creation<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_05.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_05.pdf']);\" rel=\"noopener\">Major Intellectual Properties (IP)<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_06.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_06.pdf']);\" rel=\"noopener\">Effectively Leveraging IP<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_07.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_07.pdf']);\" rel=\"noopener\">Digital Strategy \/ Human Resources Strategy Performance<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_08.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_08.pdf']);\" rel=\"noopener\">ESG Highlights<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_09.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_09.pdf']);\" rel=\"noopener\">Business Segments Highlights<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_10.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_10.pdf']);\" rel=\"noopener\">Financial Highlights<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_value_11.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_value_11.pdf']);\" rel=\"noopener\">Medium- to Long-Term Vision<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n<!--\/\/col-->\r\n\r\n<div class=\"col heightLine-1\">\r\n<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_03.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_03.pdf']);\" rel=\"noopener\">Medium- to Long-Term\r\nGrowth Strategy <br> \r\n<span>(PDF: 0.9MB \/ 22 pages)<\/span><\/a><\/h4>\r\n<ul class=\"mT10\">\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_ceo.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_ceo.pdf']);\" rel=\"noopener\">CEO Commitment<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_coo.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_coo.pdf']);\" rel=\"noopener\">The COO\u2019s discussion of growth strategies<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_cho.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_cho.pdf']);\" rel=\"noopener\">The CHO Discusses Our Human Resources Strategy<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_cfo.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_cfo.pdf']);\" rel=\"noopener\">Financial Strategy According to the CFO<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n<!--\/\/col-->\r\n\r\n<div class=\"col heightLine-1\">\r\n<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_04.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_04.pdf']);\" rel=\"noopener\">Latest Creative Report <br> \r\n<span>(PDF: 5.6MB \/ 6 pages)<\/span><\/a>\r\n<\/h4>\r\n<ul class=\"mT10\">\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_devtop.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_devtop.pdf']);\" rel=\"noopener\">The Head of Development Discusses Strategy<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_teach.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_teach.pdf']);\" rel=\"noopener\">Training Human Resources and Our Development Environment<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_tech.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_tech.pdf']);\" rel=\"noopener\">The Head of Technical Research Discusses Development<\/a><\/li>\r\n\r\n<\/ul>\r\n<\/div>\r\n<!--\/\/col-->\r\n\r\n<div class=\"col heightLine-2\">\r\n<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_05.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_05.pdf']);\" rel=\"noopener\">Foundation for\r\nSustainable Growth (ESG) <br> \r\n<span>(PDF: 2.0MB \/ 22 pages)<\/span><\/a><\/h4>\r\n<ul class=\"mT10\">\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_esg_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_esg_01.pdf']);\" rel=\"noopener\">ESG Information<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_environment_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_environment_01.pdf']);\" rel=\"noopener\">Capcom and the Environment<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_society_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_society_01.pdf']);\" rel=\"noopener\">Society and Capcom<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_member_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_member_01.pdf']);\" rel=\"noopener\">Directors<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_gov_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_gov_01.pdf']);\" rel=\"noopener\">Corporate Governance Structure and Initiatives<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_message_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_message_01.pdf']);\" rel=\"noopener\">Message from a Director and Executive Corporate Officer<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_gov_02.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_gov_02.pdf']);\" rel=\"noopener\">Key commentary on our human resources strategy\r\nfrom our external directors<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n<!--\/\/col-->\r\n\r\n<div class=\"col heightLine-2\">\r\n<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_06.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_06.pdf']);\" rel=\"noopener\">Financial Analysis and\r\nCorporate Data <br> \r\n<span>(PDF: 0.8MB \/ 11 pages)<\/span><\/a><\/h4>\r\n<ul class=\"mT10\">\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_finance_01.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_finance_01.pdf']);\" rel=\"noopener\">An Analysis of the Market and Capcom<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_finance_02.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_finance_02.pdf']);\" rel=\"noopener\">11-Year Summary of Consolidated Financial Indicators<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_finance_03.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_finance_03.pdf']);\" rel=\"noopener\">Segment Information<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_finance_05.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_finance_05.pdf']);\" rel=\"noopener\">Stock Data<\/a><\/li>\r\n<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2022\/annual_2022_finance_04.pdf\" target=\"_blank\" onclick=\"_gaq.push(['_trackEvent', 'JA PDF', 'OAR', 'annual_2022_finance_04.pdf']);\" rel=\"noopener\">Corporate Data<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n<!--\/\/col-->\r\n<\/div>\r\n<!--\/\/sepbox-->\r\n\r\n<\/div>\r\n<!--\/\/contBox-->\r\n<\/div>\r\n<!--\/\/contents-->\r\n<\/div>\r\n<!--\/\/contList-->\n    <div class=\"f_bknumber\">\r\n        <div class=\"box clearfix\">\r\n            <p>Online Integrated Report Archives<\/p>\r\n            <ul class=\"mT10\">\r\n\t\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2025.html\" target=\"_blank\">2025<\/a><\/li>\r\n\t\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2024.html\" target=\"_blank\">2024<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2023.html\" target=\"_blank\">2023<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2022.html\" target=\"_blank\">2022<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2021.html\" target=\"_blank\">2021<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2020.html\" target=\"_blank\">2020<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2019.html\" target=\"_blank\">2019<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2018.html\" target=\"_blank\">2018<\/a><\/li>\r\n                <li><a href=\"\/ir\/english\/data\/oar\/2017.html\" target=\"_blank\">2017<\/a><\/li>\r\n            <\/ul>\r\n        <\/div>\r\n        <!--\/\/box-->\r\n    <\/div>\n        <\/div>\n    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rooted in our unwavering philosophy, we are generating sustainable corporate value with our world-class develo [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":21403,"parent":21682,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template\/other_onecol.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-21657","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"aioseo_notices":[],"lang":"english","translations":{"english":21657,"ja":21398},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/21657"}],"collection":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/comments?post=21657"}],"version-history":[{"count":4,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/21657\/revisions"}],"predecessor-version":[{"id":21699,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/21657\/revisions\/21699"}],"up":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/21682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/media\/21403"}],"wp:attachment":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/media?parent=21657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}