Capcom has released its latest financial report, highlighting the company’s performance over the past six months.
The company saw ¥74.9 billion ($500 million) in the first half of the 2023/2024 fiscal year, representing a 42.7% increase from ¥49.1 billion ($328 million) during the same period of 2022. This suggests that the company is bouncing back from the post-pandemic period, which saw game makers of all sizes record declines as the market normalised following the unprecedented Covid boom.
The company saw a similar increase in operating income, which stood at ¥33.8 billion ($226 million) for the period, representing a 54.5% increase from ¥21.9 billion ($146 million) in the first half of 2022.
Despite this strong performance, mobile continues to play a relatively small part in Capcom’s business. The past three months saw the platform generate just ¥1.5 billion ($10 million). However, it’s worth noting that September saw the release of Monster Hunter Now, which immediately proved to be a massive success with worldwide downloads exceeding five million. By October 11 the title had generated $31.4 million in revenue, with the game set to take Pokémon Go’s place at the top of China’s geolocation market.
Looking forward
Capcom estimates that its mobile division will continue to perform at a steady pace, generating a projected ¥2.9 million ($19.4 million) in revenue by the end of the financial year.
The publisher made waves last month with the announcement that it would be bringing the critically acclaimed Resident Evil 4 Remake to mobile devices in the future. The company has also put mobile at the heart of its expansion plans in India, with the aim of selling more games in the market than in China within the next decade.
Notably, Resident Evil 4’s mobile release has a hefty $60 pricetag, putting it in line with the console and PC versions. As such, it’s clear that Capcom is taking a somewhat novel approach to mobile gaming, offering a console quality title for the same price. While it remains to be seen whether or not the approach will prove successful, it’s clear that Capcom is confident in its ability to deliver – and in the earning potential of its mobile arm.
We listed Capcom as one of the top 50 mobile game makers of 2023.
