Konami Boosts Forecasts as Profits Surge 53% to $427 Million

Following a robust nine-month period, Konami has revised its financial year forecasts upwards, driven by an 11% increase in revenues and a 53% rise in profits. For the nine months ending December 31, 2023, the Japanese publisher reported a business profit of ¥62.8 billion ($427 million), representing a 53% year-on-year increase, and an operating profit of ¥59.6 billion ($405.2 million), up 59% from the previous year. Key highlights include: Revenue: ¥253.1 billion ($1.72 billion, up 11.6% year-on-year), Business profit: ¥62.8 billion ($427 million, up 53%), and Operating profit: ¥59.6 billion ($405.2 million, up 59%). The Digital Entertainment segment, which oversees the company's video games business, accounted for nearly 70% of Konami's total revenue, with significant contributions from the launches of Metal Gear Solid: Master Collection Vol.1 and Momotaro Dentetsu World: Chikyuwa Kiboude Mawatteru. The latter, a popular digital board game series, sold over one million copies in Japan between its November 16 launch and the end of the year. Additionally, strong performances were noted from eFootball 2024 and Professional Baseball Spirits. Konami's Amusement segment also experienced substantial growth, with profits more than doubling year-on-year to ¥2.2 billion ($15 million) and revenues rising 55% to ¥16.3 billion ($110.8 million). As a result, Konami has revised its full-year revenue forecast from ¥328 billion ($2.23 billion) to ¥343 billion ($2.33 billion), representing a 15% increase from the initial forecast and a 28.7% year-on-year rise. The forecast for business profit has been increased by 15.5% from ¥63 billion ($428.4 million) to ¥78.5 billion ($533.8 million), while the guidance for operating profit has been raised 12% from ¥60 billion ($408 million) to ¥72 billion ($489.6 million).