{"id":9600,"date":"2021-10-12T23:59:32","date_gmt":"2021-10-12T14:59:32","guid":{"rendered":"https:\/\/www.capcom.co.jp\/ir\/?page_id=9600"},"modified":"2021-11-05T12:14:00","modified_gmt":"2021-11-05T03:14:00","slug":"finance","status":"publish","type":"page","link":"https:\/\/www.capcom.co.jp\/ir\/english\/data\/oar\/2018\/value\/finance.html","title":{"rendered":"Financial and ESG Highlights"},"content":{"rendered":"\n<div class=\"oarBnWrapper\">\n\t<div class=\"oarBnBody\">\n\n<div class=\"fixedHeader\">\n\t<section class=\"fixedTop\">\n\t\t<div class=\"container\">\n\t\t<h1><a href=\"\/ir\/english\/data\/oar\/2018.html\"><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/img_title01.png\" alt=\"Integrated Report 2018\"><\/a><\/h1>\n\t\t\t<div class=\"ticker\">\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/img_title01-1.png\" alt=\"Aiming for the Top\">\n\t\t\t<\/div><!--\/\/ticker-->\n\t\t<\/div><!--\/\/container-->\n\t<\/section>\t<!--\/\/section-->\n\n\t<section class=\"globalnav\">\n\t<ul>\n\t<li><span class=\"openPopup\">Capcom&#8217;s Value Creation<\/span>\n\t<div class=\"navPopup\">\n\t<div class=\"container\">\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t\t<h2><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/title_value.png\" alt=\"Capcom's Value Creation:\"><\/h2>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/business.html\"><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/value_01.jpg\"><br>Value Creation Model<\/a><\/li>   \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/history.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/value_02.jpg\"><br>\n\t\t\t  History of Value Creation<\/a><\/li>     \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/ip.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/value_03.jpg\"><br>Major Intellectual Properties (IP)<\/a><\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\t<\/nav>\n\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t<ul> \n\t\t\t<li>&nbsp;<\/li> \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/finance.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2017\/Menu\/know_05.jpg\"><br>Financial and ESG Highlights<\/a><\/li> \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t <ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/segment.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/value_05.jpg\"><br>Business Segments Highlights<\/a><\/li> \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t <ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/value\/segment.html#vision\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/value_06.jpg\"><br>Medium- to Long-Term Vision<\/a><\/li> \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\t<\/nav>\n\t<!--div class=\"banners\">\n\t<ul>\n\t\t<li><a href=\"#\"><img decoding=\"async\" src=\"images\/banner_02.png\" alt=\"\"><\/a><\/li>\n\t<\/ul>\n\t<\/div--><!--\/\/banners-->\n\n\t<\/div><!--\/\/container-->\n\t<\/div><!--\/\/navPopup-->\n\t<\/li>\n\n\t<li><span class=\"openPopup txt12\">Medium- to Long-Term<br>Growth Strategy<\/span>\n\t<div class=\"navPopup\">\n\t<div class=\"container\">\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t\t<h2><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/title_growth.png\" alt=\"Medium- to Long-Term Growth Strategy\"><\/h2>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/growth\/ceo.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/growth_01.jpg\"><br>CEO Commitment<\/a><\/li>        \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/growth\/coo.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/growth_02.jpg\"><br>The COO&#8217;s Discussion of Growth Strategies<\/a>\n\t\t\t\t<ul class=\"mT10\">\n\t\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/growth\/analysis_gr-hit.html\">Case Study: Analysis of a Global Hit<\/a><\/li>\n\t\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/growth\/analysis_pdca.html\">Analysis of Successful PDCA Examples<\/a><\/li>\n\t\t\t\t<\/ul>\n\t\t\t<\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/growth\/cfo.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/\/growth_03.jpg\"><br>Financial Strategy According to the CFO<\/a><\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\t<\/nav>\n\n\t<!--div class=\"banners\">\n\t<ul>\n\t\t<li><a href=\"#\"><img decoding=\"async\" src=\"\/ir\/liquid\/images\/banner_02.png\" alt=\"\"><\/a><\/li>\n\t\t <li><a href=\"#\"><img decoding=\"async\" src=\"\/ir\/liquid\/images\/banner_02.png\" alt=\"\"><\/a><\/li>\n\t<\/ul>\n\t<\/div--><!--\/\/banners-->\n\n\t<\/div><!--\/\/container-->\n\t<\/div><!--\/\/navPopup-->\n\t<\/li>\n\n\t<li><span class=\"openPopup\">The Heart of<br>Value Creation<\/span>\n\t<div class=\"navPopup\">\n\t<div class=\"container\">\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t\t<h2><img loading=\"lazy\" decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/title_develop.png\" alt=\"The Heart of Value Creation\" width=\"180\" height=\"151\"><\/h2>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/develop.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/develop_01.jpg\"><br>The Passion and the Prowess to Compete Globally<\/a><\/li>  \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/develop\/re2.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/develop_02.jpg\"><br><em>Resident Evil 2<\/em><\/a><\/li>  \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/develop\/dmc.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/develop_03.jpg\"><br><em>Devil May Cry 5<\/em><\/a><\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t<\/nav>\n\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t <ul>\n\t\t <li>&nbsp;<\/li>\n\t\t  <\/ul> \n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/develop\/rock11.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/develop_04.jpg\"><br><em>Mega Man 11<\/em><\/a><\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t &nbsp;\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t&nbsp;\n\t\t<\/div><!--\/\/unit-->\n\t<\/nav>\n\n\t<!--div class=\"banners\">\n\t<ul>\n\t\t<li><a href=\"#\"><img decoding=\"async\" src=\"images\/banner_02.png\" alt=\"\"><\/a><\/li>\n\t<\/ul>\n\t<\/div--><!--\/\/banners-->\n\n\t<\/div><!--\/\/container-->\n\t<\/div><!--\/\/navPopup-->\n\t<\/li>\n\n\t<li><span class=\"openPopup\">ESG-Based<br>Value Creation<\/span>\n\t<div class=\"navPopup\">\n\t<div class=\"container\">\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t\t<h2><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/title_esg.png\" alt=\"ESG-Based Value Creation\"><\/h2>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/devtop.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/esg_01.jpg\"><br>The Head of Development Discusses Human Resources Strategy<\/a><\/li>        \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/social.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/esg_04.jpg\"><br>Society and Capcom<\/a><\/li>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/env.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/esg_03.jpg\"><br>Capcom and the Environment<\/a><\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/governance.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/esg_05.jpg\"><br>Corporate Governance<\/a>\n\t\t\t<ul class=\"mT10\">\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/governance.html\">Directors<\/a><\/li>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/features.html\">Features of Capcom Corporate Governance<\/a><\/li>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/system.html\">Corporate Governance Structure and Initiatives<\/a><\/li>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/brd_mtg.html\">Major Discussions at Board of Directors Meetings and Audit and Supervisory Committee Meetings Held in Fiscal 2017<\/a><\/li>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/esg\/risk.html\">Risk Management<\/a><\/li>\n\t\t\t<\/ul>\n\t\t<\/li>\n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\t<\/nav>\n\n\t<!--div class=\"banners\">\n\t<ul>\n\t\t<li><a href=\"#\"><img decoding=\"async\" src=\"images\/banner_02.png\" alt=\"\"><\/a><\/li>\n\t<\/ul>\n\t<\/div--><!--\/\/banners-->\n\n\t<\/div><!--\/\/container-->\n\t<\/div><!--\/\/navPopup-->\n\t<\/li>\n\n\t<li><span class=\"openPopup\">Financial Analysis<\/span>\n\n\t  <div class=\"navPopup\">\n\t<div class=\"container\">\n\t<nav>\n\t\t<div class=\"unit\">\n\t\t\t<h2><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/title_finance.png\" alt=\"\u8ca1\u52d9\u60c5\u5831\"><\/h2>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t<div class=\"unit\">\n\t\t<ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/finance\/market.html\"><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/Menu\/finance_01.jpg\"><br>An Analysis of the Market and Capcom<\/a><\/li>   \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t\t <div class=\"unit\">\n\t\t <ul>\n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2018\/finance\/market02.html\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2018\/Menu\/finance_02.jpg\"><br>Market Analysis<\/a><\/li>   \n\t\t<\/ul>\n\t\t<\/div><!--\/\/unit-->\n\n\t<\/nav>\n\n\n\t<div class=\"banners\">\n\t<ul>\n\t\t<li class=\"titlebox\">Financial data (PDF)<\/li>\n\n\t\t<li><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance01.pdf\" target=\"_blank\" rel=\"noopener\">11-Year Summary of Consolidated Financial Indicators (408KB)<\/a><br>\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance02.pdf\" target=\"_blank\" rel=\"noopener\">Financial Review (440KB)<\/a><br>\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance03.pdf\" target=\"_blank\" rel=\"noopener\">Segment Information (468KB)<\/a><br>\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance04.pdf\" target=\"_blank\" rel=\"noopener\">Game Series Sales (864KB)<\/a>\n\t\t<\/li>\n\n\t\t<li>\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance05.pdf\" target=\"_blank\" rel=\"noopener\">Consolidated Financial Statement (420KB)<\/a><br>\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" width=\"15\"> <a href=\"\/ir\/english\/data\/pdf\/annual\/2018\/annual_2018_06.pdf\" target=\"_blank\" rel=\"noopener\">Notes to Consolidated Financial Statements and Independent Auditor&#8217;s Report (408KB)<\/a>\n\t\t<\/li>\n\t<\/ul>\n\t<\/div><!--\/\/banners-->\n\n\t<\/div><!--\/\/container-->\n\t<\/div><!--\/\/navPopup-->\n\n\n\t<\/li>\n\t<\/ul>\t\n\n\t<\/section>\t<!--\/\/section-->\n<\/div><!--\/\/fixedHeader-->\n<div id=\"hideGnav\"><\/div>                    \n                    \n<main id=\"rs_read\" class=\"gray02 oarMain\">\n<div class=\"message_past\">\r\n\t<p class=\"ms\"><a href=\"\/ir\/english\/data\/oar\/2025.html\">Latest version is available on the \"Online Integrated Report 2025\" top page.<\/a><\/p>\r\n<\/div>\n\n<div class=\"fullBox g02\" style=\"padding-top:30px;\">\n<div class=\"container\">\n<h2 class=\"oar_h2Style mT35\">Financial and ESG Highlights<span class=\"rabel\">Present<\/span><\/h2>\n<\/div><!--\/\/container-->\n<\/div>\n\n\n<div class=\"fullBox g02\" style=\"padding-top:35px;\">\n\n<div class=\"container clearfix\">\n<div class=\"nav_str\">\n<ul class=\"anchor\">\n<li><a href=\"#\">Financial Highlights<\/a><\/li>\n<li><a href=\"esg.html\" class=\"passivbtn\">ESG Highlights<\/a><\/li>\n<\/ul>\n<\/div><!--\/\/nav_str-->\n<\/div><!--container-->\n<\/div>\n\n\n\n\n\n\n<div class=\"fullBox g02\" style=\"padding:35px 0;\">\n<div class=\"intr\">\n<div class=\"container\">\n<h3 class=\"oar_h3Lstyle\">Financial Highlights<\/h3>\n<\/div><!--container-->\n<\/div><!--\/\/intr-->\n<\/div>\n\n\n<div class=\"fullBox g02 highlight\">\n<section class=\"finance01\">\n\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t01.png\" alt=\"Operating Income (million of yen) 16,037 million yen\/ UP 17.5%\"><\/p>\n<\/div><!--\/\/graph-->\n\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t02.png\" alt=\"Operating Margins 17.0%\/ UP 1.3 point\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">In line with structural reforms conducted in the fiscal year ended March 2004, operating income increased steadily until the fiscal year ended March 2009. In the fiscal year ended March 2010, the postponed release of major titles and the failure of some titles to meet sales targets overseas resulted in a temporary decline in income. In the fiscal year ended March 2011, we promoted profit structure reforms aimed at more efficient development investment. We promoted business restructuring by transitioning to in-house production and strengthened our digital download strategy in response to rapid changes in the market beginning in the fiscal year ended March 2013. As a result, operating income and operating margins underperformed until the fiscal year ended March 2014 while these reforms were implemented. <strong class=\"ymarker\">However, since the fiscal year ended March 2014, operating income has increased for five consecutive fiscal years thanks to growth of the Consumer and Amusement Equipments businesses. Notably, in the fiscal year ended March 2018, the hit performance of <span class=\"norap00\"><em>Monster Hunter: World<\/em><\/span> resulted in record income, and the operating margin also improved.<\/strong><\/p>\n\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance01-->\n\n\n\n<section class=\"finance02\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t03.png\" alt=\"Net Sales (Millions of yen)  94,515 million yen\u3000UP 8.4%\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">In the fiscal years ended March 2010 and March 2012, net sales declined due to the postponed release of titles. However, the promotion of structural reforms in the Consumer business resulted in Capcom achieving net sales of 100 billion yen in the fiscal year ended March 2014 for the first time. <br>\nAlthough net sales decreased significantly in the fiscal year ended March 2015 due to a delay in pachislo machine releases, <strong class=\"ymarker\">the steady release of major titles from the Consumer business since the fiscal year ended March 2016 has resulted in an increase in net sales for three consecutive fiscal years.<\/strong><\/p>\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance02-->\n\n\n<section class=\"finance03\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t04.png\" alt=\"Net Income Attributable to Owners of the Parent(Millions of yen)\u300010,937 million yen\u3000UP 23.2%\"><\/p>\n\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">Performance was sluggish in the fiscal years ended in March 2010, 2013 and 2014, as (1) a complete overhaul to the Amusement Equipments&#8217; underperforming profit structure, (2) development structure revisions in line with enhanced digital downloads in the Consumer business and (3) strengthened Mobile Contents business management capabilities in line with development organization integration resulted in the recognition of special losses on restructuring and business restructuring expenses. <strong class=\"ymarker\">From the fiscal year ended March 2015, income increased five years in a row due to the benefits from development organization reforms beginning to manifest.<\/strong><\/p>\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance03-->\n\n\n\n\n<section class=\"finance04\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t05.png\" alt=\"R&#038;D Investment Cpsts (million yen) 4.9\u767e\u4e07\u5186 UP 4.9%\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">At Capcom, we believe the generation of creative and original content is the source of corporate growth, thus 90% or more of our annual development investments are allocated to the Digital Contents business. Recently in the Consumer segment, development costs have been trending higher in line with increasingly high-performance hardware, but we have been able to streamline development through increased employee utilization rates. Due to expanding our lineup, costs have been on the rise since the fiscal year ended March 2008; <strong class=\"ymarker\">however, we expect them to remain around 30 billion yen going forward<\/strong>.<\/p>\n<\/div>\n<\/section><!--\/\/finance04-->\n\n\n\n<section class=\"finance05\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t06.png\" alt=\"Balance of Works in Progress for Game Software (Millions of yen)\u300025,635 million yen DOWN 15.9%\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">The balance of work in progress for game software has been on the rise in line with increasingly high-performance hardware. In the fiscal years ended March 2011 and 2014, it decreased with the release of major titles. Since the fiscal year ended March 2015, it has been increasing again with expansion of the lineup and release of new-generation hardware, <strong class=\"ymarker\">but in the fiscal year ended March 2018 it decreased owing to the release of <span class=\"norap00\"><em>Monster Hunter: World<\/em><\/span> and the reevaluation of some unprofitable titles. <\/strong><\/p>\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance05-->\n\n\n\n<section class=\"finance06\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t07.png\" alt=\"Dividend per Share \/ Dividend Payout Ratio    Dividend per Share (Yen) 60.0 yen, UP 20.0%\/ Dividend Payout Ratio(%) 30.0%, DOWN 1.2 points\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">Up to the fiscal year ended March 2016, Capcom had a basic policy of maintaining stable dividends, and in the fiscal years ended March 2009 and 2011, the annual dividend was raised 5 yen in conjunction with improved business results. Since the fiscal year ended March 2017, the basic policy has been to maintain a consolidated payout ratio of 30% and to strive for stable dividends. As a result, <strong class=\"ymarker\">the annual dividend per share in the fiscal year ended March 2018 was 60 yen, the highest ever in the 28 years of continuous dividends since our listing.<\/strong><\/p>\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance06-->\n\n\n\n\n\n<section class=\"finance07\" style=\"margin-bottom:150px !important;\">\n<div class=\"container\">\n<div class=\"graph\">\n<p><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2018\/value\/img_finance_t08.png\" alt=\"Return on Equity (ROE)(%) 13.4% UP 1.8 points\"><\/p>\n<\/div><!--\/\/graph-->\n\n<p class=\"p finance\">Although net assets increased between the fiscal years ended March 2007 and March 2009, stable net income resulted in ROE of around 14%. In the fiscal years ended in March 2010, 2013 and 2014, this figure declined due to decreases in net income from the recognition of special losses on restructuring and business restructuring expenses. <strong class=\"ymarker\"> From the fiscal year ended March 2015, ROE has once again been on the rise on the elimination of special losses and improved profitability.<\/strong><\/p>\n<\/div><!--\/\/container-->\n<\/section><!--\/\/finance07-->\n\n<\/div><!--\/\/fullBox-->   \n\n\n<div class=\"fullBox g02\">\n<div class=\"container\">\n\n<section>\n\t<div class=\"pdfDownload\">\n\t\t<h3>PDF download<\/h3>\n\t\t<ul>\n\t\t\t<li>\n\t\t\t\t<h4>Capcom&#8217;s Value Creation: Past, Present, Future <span>(PDF:3.26MB\/14 pages)<\/span><\/h4>\n\t\t\t\t<p><a href=\"\/ir\/english\/data\/pdf\/annual\/2018\/annual_2018_03.pdf\" target=\"_blank\" rel=\"noopener\">DOWNLOAD<\/a><\/p>\n\t\t\t<\/li>\n\t\t<\/ul>\n\t<\/div>\n<\/section>\n\n\n<section class=\"related\">\n\n<h4 class=\"relatedLink mT25\">Related Page<\/h4>\n\n<div class=\"relatedLink c01\">\n<div class=\"cont c01s\">\n<ul>\n<li class=\"mB0 nowindow\"><a href=\"\/ir\/english\/assets\/pdf\/oar\/2018\/finance\/oar_finance01.pdf\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/cms_contents\/ico_pdf.svg\" style=\"width: 15px;\"> 11-Year Summary of Consolidated Financial Indicators\uff08PDF\uff1a408KB\/2 pages)<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div><!--\/\/relatedLink-->\n\n<\/section>\n\n<\/div><!--\/\/container-2-->\n<\/div><!--\/\/fullbox-->\n\n\n\n\n\n\n<\/main>\n\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\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Capcom&#8217;s Value Creation Value Creation Model History of Value Creation Major Intellectual Properties (IP [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":9592,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template\/other_onecol.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-9600","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"lang":"english","translations":{"english":9600,"ja":6488},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/9600"}],"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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/comments?post=9600"}],"version-history":[{"count":8,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/9600\/revisions"}],"predecessor-version":[{"id":11305,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/9600\/revisions\/11305"}],"up":[{"embeddable":true,"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/pages\/9592"}],"wp:attachment":[{"href":"https:\/\/www.capcom.co.jp\/ir\/wp-json\/wp\/v2\/media?parent=9600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}