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Capcom saw $311.7 million in net sales in quarter one 2023

According to Capcom's latest quarterly report, the company experienced a significant surge in net sales during the first quarter (April 1 - June 30) of the 2023-2024 financial year. Net sales reached 43.858 billion yen ($311.703 million), marking an impressive 73.8% increase from the same period last year, which recorded 25.232 billion yen ($179.326 million). Additionally, operating income saw a massive 99.4% growth, rising from 12.061 billion yen ($85.718 million) to 24.047 billion yen ($170.905 million) over the same period.

These remarkable increases follow significant year-on-year declines in the same quarter of 2022 when net sales fell by 47.9% and operating income by 48.9%. The company attributes the recent growth in net sales mainly to the successful release of Resident Evil 4 on March 24 and the launch of Street Fighter 6.

This positive performance has put Capcom in a promising position, with a forecasted net sales target of 140 billion yen ($994.259 million) by March 31, 2024, indicating an 11.2% increase from the previous financial year.

Currently, the company reports total assets of 172.236 billion yen ($1.223 billion), showing a 0.5% quarter-on-quarter increase from 171.402 billion yen ($1.217 billion).

While mobile gaming plays a relatively minor role in Capcom's financial performance, the company is expected to release Monster Hunter Now in September, a co-development with AR giant Niantic. This release could serve as a test for potential future mobile endeavors. Although the report does not specify the revenue from the mobile segment, successful mobile adaptations of Capcom's IPs by third-party companies have already been noted. A positive reception for Monster Hunter Now might encourage the company to focus more on its own mobile game development in the future. Investors seem optimistic about the potential growth of Capcom's mobile initiatives, as reflected in the company's increased share price.

Source: Lewis Rees, Staff Writer at PocketGamer

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