Konami announces significant profit increase

The Japanese corporation increased its profits by almost 230 percent.

Japan.- Konami Holdings Corporation reported its profits for the nine month period that ended the last day of December 2016. According to the company, its profits increased 229.8 percent to US$183 million.

On the other hand, consolidated total revenue fell 8.5 percent compared to the same period during the previous year to US$1.4 billion during the nine months. Last year, the company announced that they would be restructuring its business by merging the Pachislot & Pachinko Machines Business with the Arcade Games Business, and call them the Amusement Business.

“Although sales from this business decreased amid the continuous harsh market environment surrounding the Amusement business, operating profit from this business increased compared to the same period in the previous year due to promoted business operation efficiency and improved profit structure,” said a statement from the company.

“In Japanese yen of the Company’s presentation currency, however, total revenue and operating profit decreased due to an increase in development costs for new products and the effect of exchange rate changes by the sharply rising yen,” it concluded.