Konami earns 172 million (net profit) in its 2019 fiscal year, 42% less than in the last year.
Although the Group's turnover in 2019 remained stable compared to 2018 at around 2,272.6 million euros, its net profit fell almost 42%. The company attributes this to an increase in costs mainly due to the relocation of its new headquarters.
Konami Holdings Corporation, the Japanese giant mainly dedicated to video game industry - although it has production lines for toys, trading cards, anime and slot machines - has presented surprising results in 2019 in the negative. And is that the company that developed a large part of the most popular video games on the market and many other entertainment products achieved a net attributable profit of 19.892 million yen (172 million euros) in the whole of its fiscal year, ended in March , which is equivalent to a decrease of 42% compared to the previous year.
Shareholders have not taken these results too well and Konami's shares have fallen 7% so far this week. Especially since the firm's turnover in the 12 fiscal months remained practically stable compared to the immediately previous year: some 262,810 million yen (2,272.6 million euros): product sales fell 7.5%, to 69,298 million yen (599.2 million euros), but sales of services increased by 3% to 193,512 million yen (1,673.2 million euros).
On the other hand, the costs associated with income rose 4.9% while sales, general and administrative expenses reached 55,470 million yen (479.6 million euros), an increase of 5.4%.
The company has justified these results due to the increase in costs due to the transfer of its new headquarters, since for a time they have had to continue paying rents for the old one.
