Company Reports

Capcom's June-quarter sales and operating income rose 54.7% and 66.9% year over year, respectively, driven by robust catalogue sales and the launch of new title, Pragmata.

Capcom is a Japanese game developer. Its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for stable sales growth and high profits in the past 10 years.

Capcom's fiscal 2025 (ended March 2026) revenue and operating income rose 15% year over year, driven by stronger repeat sales across franchises and the Feb. 27 launch of Resident Evil Requiem, or RE9.

Capcom is a Japanese game developer. Its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for stable sales growth and high profits in the past 10 years.

Capcom's December-quarter revenue and operating income grew by 5.3% and 45.4%, respectively, mainly due to growth in repeat sales and recognition of deferred revenue. Management maintained 2025 guidance but noted that the nine-month cumulative operating income has exceeded its targets.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom's September-quarter revenue and operating income grew by 33% and 88% year over year, respectively. The company maintains fiscal 2025 guidance for revenue and operating income at JPY 190 billion and JPY 73 billion.

Capcom's June quarter revenue and operating income grew by 53.7% and 90.8% from last year, mainly attributable to 13 million repeat title sales (up 4 million units year on year), and the recognition of JPY 90 billion deferred revenue from Monster Hunter Wilds.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom, Bandai Namco, and Nexon revealed release dates and trailers for several new game titles during the PlayStation State of Play June 2025 and Summer Game Fest 2025 livestreams.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

The fiscal year ending March 2025 marks Capcom's 10th consecutive year of delivering over 10% year-on-year operating income growth. The company is committed to extending this track record, through the expansion of repeat title sales and the release of new hit titles.

Worldwide sales of Monster Hunter Wilds, or MHW, surpassed 10 million units as of March 31. Capcom remains committed to achieving 10% annual growth in operating profit over the medium term.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom is a Japanese game developer, and its most notable flagship series, Resident Evil and Monster Hunter, account for the majority of its sales and profits. In the 2010s, Capcom changed its strategy from relying on new releases, to focusing on selling remakes and expanding global sales of old titles through digital distribution. This paved the way for Capcom’s stable sales growth and high profits in the past 10 years.

Capcom delivered somewhat underwhelming December-quarter results, mainly due to the digital content segment’s unit sales and margin both missing our expectations because of a less favorable title mix and unexpected impairment losses. Nonetheless, management expressed strong confidence in the successful launch of Monster Hunter Wilds in the March quarter and retained its operating income guidance of JPY 64 billion for fiscal 2024 (ending March 2025). After tweaking our currency assumptions for the March quarter, we bumped up our revenue forecast slightly to JPY 171 billion from JPY 166 billion, but maintained our operating income forecast of JPY 64 billion for fiscal 2025. We broadly maintain our medium-term forecasts and fair value estimate of JPY 3,000. We believe shares are currently slightly overvalued.

Capcom’s second-quarter revenue decline of 14% year over year was as expected, considering a less compelling game lineup compared with last year’s Street Fighter 6 release. However, operating income of JPY 7.8 billion fell below our projected JPY 10.8 billion, due to higher-than-expected costs associated with several new releases during the quarter. We believe Capcom’s new unit sales target of 13 million copies seems stretched, with only one confirmed AAA title release—Monster Hunter Wilds, or MHW, in the year. However, we're more optimistic about the catalog unit sales target of 37 million copies, given continuous robust sales of catalog units of the company’s flagship franchises, especially past Monster Hunter titles, enabling Capcom to achieve its fiscal year 2024 revenue and operating income guidance of JPY 165 billion and JPY 64 billion, respectively. Our fair value estimate remains unchanged at JPY 3,000 per share and we believe shares are fairly valued now.