Konami Group Corporation Revision of the Consolidated Earnings Forecast (7165O)

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RNS Number : 7165O

Konami Group Corporation

02 February 2023

 
                                           February 2, 2023 
 
 FOR IMMEDIATE RELEASE 
                    KONAMI GROUP CORPORATION 
                    Kimihiko Higashio, Representative 
                     Director, President 
   Shares listed:   Tokyo and London Stock Exchanges 
 
         Contact:   Junichi Motobayashi, Corporate Officer, 
                     General Manager, Finance Division 
             Tel:   [phone] 
 
 
News Release: Notice Regarding Revision of the Consolidated Forecast 
              for the Fiscal Year Ending March 31, 2023 
 

KONAMI GROUP CORPORATION (the "Company") hereby announces the revision of its consolidated earnings forecast for the fiscal year ending March 31, 2023, which was released on May 12, 2022 in its Consolidated Financial Results for the Year Ended March 31, 2022, in light of its recent business performance.

   1.   Revision of the Consolidated Forecast for the Fiscal Year Ending March 31, 2023 
 
                For the fiscal year ending March 31, 2023 (from April 1, 2022 to March 
                 31, 2023) 
------------------------------------------------------------------------------------------------------------- 
                                                                        (Millions of yen, except percentages) 
-----------------  ------------------------------------------------------------------------------------------ 
                          Revenue   Business   Operating  Profit before  Profit attributable  Basic earnings 
                                      profit     profit    income taxes       to owners          per share 
                                                                            of the parent      (attributable 
                                                                                                 to owners 
                                                                                               of the parent) 
                                                                                                   (yen) 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
  Previous forecast 
   (A) Released 
   on May 12, 
   2022                    320,000     81,000     76,500         76,500               55,000           411.74 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
  Revised forecast 
   (B)                     303,000     50,500     42,500         42,500               29,000           213.93 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
  Change (B - 
   A)                     (17,000)   (30,500)   (34,000)       (34,000)             (26,000)      ******* 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
  Percentage 
   Change (%)                (5.3)     (37.7)     (44.4)         (44.4)               (47.3)      ******* 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
                    <For reference> 
-----------------  ------------------------------------------------------------------------------------------ 
  Results for 
   the year ended 
   March 31, 2022          299,522     80,315     74,435         75,163               54,806           410.80 
                         ---------  ---------  ---------  -------------  -------------------  --------------- 
 
 
   2.   Reasons for the Revision 

Consolidated earnings forecast for the fiscal year ending March 31, 2023 was revised, mainly due to factors including revision of the profit plan for some titles in the Digital Entertainment business.

   3.   Dividend forecast 

The Company will maintain its annual dividend to be 124.00 yen per share, which includes an interim dividend of 62.00 yen per share and a year-end dividend of 62.00 yen per share. The payment of dividends for the fiscal year ending March 31, 2023 will maintain the same level of regular dividends which was based on the initial profit forecast for the fiscal year ending March 31, 2023.

End

Cautionary statement with respect to forward-looking statements and other matters:

Statements made in this document with respect to our current plans, estimates, strategies and beliefs, including the above forecasts, are forward-looking statements about our future performance. These statements are based on management's assumptions and beliefs in light of information currently available to it and, therefore, you should not place undue reliance on them. A number of important factors could cause actual results to be materially different from and worse than those discussed in forward-looking statements. Such factors include, but are not limited to: (i) changes in economic conditions affecting our operations; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar and the Euro; (iii) our ability to continue to win acceptance of our products, which are offered in highly competitive markets characterized by the continuous introduction of new products, rapid developments in technology and subjective and changing consumer preferences; (iv) the timing of the release of new game titles and products, especially game titles and products that are part of historically popular series; (v) our ability to successfully expand internationally with a focus on our Digital Entertainment, Amusement, and Gaming & Systems businesses; (vi) our ability to successfully expand the scope of our business and broaden our customer base through our Sports business; (vii) regulatory developments and changes and our ability to respond and adapt to those changes; (viii) our expectations with regard to further acquisitions and the integration of any companies we may acquire; and (ix) the outcome of existing contingencies.

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February 02, 2023 02:26 ET (07:26 GMT)