Capcom FY2023 Q1 Earnings Release

Jul, 2023 0 Capcom Public Relations & Investor Relations SectionCapcom Public Relations & Investor Relations Section
Capcom Co., Ltd.
(TSE Prime, 9697)
1st Quarter Report
Fiscal year ending March 31, 2024

1 Capcom Public Relations & Investor Relations Section
Major Takeaways
◼ Q1 Results
• Sales and profit up YoY from digital sales, including major new title
• Sales of Street Fighter 6 surpassed 1.97 million units (Q1)
• Game sales grew from 11.7 million units to 13.5 million units YoY
• Sales and profit grew YoY in Amusement Equipments and Arcade
Operations businesses
◼ Full -Year Business Plan
• First quarter performance proceeding in -line with plan
*YoY indicates percent change from the same term of the previous year2022/6 YoY 2023/6 YoY Difference 2024/3 Plan YoY
Net sales 25,232 -4 8 % 43,858 74% 18,626 140,000 11%
Operating income 12,061 -4 9 % 24,047 99% 11,986 56,000 10%
Operating margin 47.8% – 54.8% – – 40.0% –
Ordinary income 12,803 -4 6 % 25,865 102% 13,062 56,000 9%
Net income at t ribut ablet o owners of t he parent 9,007 -4 8 % 18,163 102% 9,156 40,000 9%

2 Capcom Public Relations & Investor Relations Section
Summary of Major Financial Information / Our Major IP
2. Q1 Financial Highlights 4
Forward -looking Statements
Strategies, plans, outlooks and other statements that are not historical facts are based on assumptions that use information cur rently
available and reasonable judgments. Actual performance may be significantly different from these statements for a number of r eas ons.
In the entertainment industry, which includes Capcom, performance may be highly volatile because of diverging user needs and oth er
changes in market conditions.
Factors that can affect Capcom’s performance include: (1) the number of hit titles and sales volume in the Home Video Game Bu sin ess,
which accounts for the majority of sales; (2) progress in developing home video games; (3) consumer demand for home video gam e
consoles; (4) sales outside Japan; (5) changes in stock prices and exchange rates; (6) alliances with other companies concern ing product
development, sales and other operations; and (7) changes in market conditions; (8) natural disasters, disease outbreaks, econ omi c crises
and other unforeseeable events. Please note that this is not a complete list of factors that can influence Capcom’s operating results.
4. Supplement 13
page
1. Forecasts for FY3/24 3
Contents
3. Business Segments 7

3 Capcom Public Relations & Investor Relations Section
Aiming for 11 consecutive years of OP growth
driven by steady growth of Digital Contents business
(million yen)
1. Forecasts for FY3/24
◼ Expect increased sales and profit due to digital sales growth in the Consumer sub -segment
◼ Earnings per share forecast: ¥191.28
◼ Dividend forecast: interim dividend of ¥27 and year -end dividend of ¥27
resulting in a ¥54 dividend for the fiscal year
*YoY indicates percent change from the same term of the previous year2020/3 YoY 2021/3 YoY 2022/3 YoY 2023/3 YoY 2024/3 Plan YoY Difference
Net sales 81,591 -1 8 % 95,308 17% 110,054 16% 125,930 14% 140,000 11% 14,070
Operating income 22,827 26% 34,596 52% 42,909 24% 50,812 18% 56,000 10% 5,188
Operating margin 28.0% – 36.3% – 39.0% – 40.3% – 40.0% – –
Ordinary income 22,957 26% 34,845 52% 44,330 27% 51,369 16% 56,000 9% 4,631
Net income at t ribut ablet o owners of t he parent 15,949 27% 24,923 56% 32,553 31% 36,737 13% 40,000 9% 3,263

4 Capcom Public Relations & Investor Relations Section
⚫ YoY sales and profit growth driven primarily by major new title sales in the
Consumer sub -segment
⚫ Ordinary income includes foreign exchange gain of ¥1,630 million
◼ 3 Months Results in FY6/23 (consolidated)
2 -1. Q1 Financial Highlights – Consolidated Business Results (1)
(million yen)
*YoY indicates percent change from the same term of the previous year2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY Difference
Net sales 17,938 4% 23,722 32% 48,423 104% 25,232 -4 8 % 43,858 74% 18,626
Operating income 7,703 51% 10,711 39% 23,604 120% 12,061 -4 9 % 24,047 99% 11,986
Operating margin 42.9% – 45.2% – 48.7% – 47.8% – 54.8% – –
Ordinary income 7,699 40% 10,619 38% 23,899 125% 12,803 -4 6 % 25,865 102% 13,062
Net income at t ribut ablet o owners of t he parent 5,420 39% 7,815 44% 17,340 122% 9,007 -4 8 % 18,163 102% 9,156

5 Capcom Public Relations & Investor Relations Section
◼ FY6/23 Net Sales/Operating Income (by segment)
2 -1. Q1 Financial Highlights – Consolidated Business Results (2)
*Adjustments include unallocated corporate operating expenses. The corporate operating expenses, which do not belong to any r epo rtable segment, mainly consist of administrative expenses.
(million yen)
*YoY indicates percent change from the same term of the previous year2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY Difference 2024/3 Plan YoY
Net sales 17,938 4% 23,722 32% 48,423 104% 25,232 -48% 43,858 74% 18,626 140,000 11%
Digit al Cont ent s 13,977 1% 21,476 54% 43,918 105% 19,860 -55% 37,875 91% 18,015 106,300 8%
A rcade Operat ions 2,710 14% 1,184 -56% 2,389 102% 3,286 38% 4,117 25% 831 18,000 15%
A musement Equipment s 225 -40% 181 -20% 1,282 608% 649 -49% 898 38% 249 10,000 28%
Ot her Businesses 1,025 54% 879 -14% 832 -5% 1,435 73% 968 -33% -467 5,700 31%
Operating income 7,703 51% 10,711 39% 23,604 120% 12,061 -49% 24,047 99% 11,986 56,000 10%
Digit al Cont ent s 7,733 35% 11,804 53% 24,455 107% 12,541 -49% 24,679 97% 12,138 58,900 10%
A rcade Operat ions 299 109% -554 – -63 – 186 – 375 102% 189 1,300 6%
A musement Equipment s 133 – 71 -47% 243 242% 270 11% 678 151% 408 3,700 8%
Ot her Businesses 640 56% 511 -20% 482 -6% 818 70% 494 -40% -324 1,600 12%
A djust ment s* -1,103 – -1,120 – -1,512 – -1,755 – -2,181 – -426 -9,500 –

6 Capcom Public Relations & Investor Relations Section
◼ FY6/23 Balance Sheet/Statement of Cashflows (Summary)
2 -2. Q1 Financial Highlights – Financial Position
(million yen)
(million yen) Statement of Cashflows
Balance Sheet
*Deferred income of ¥1.5 billion consists primarily of revenue from Street Fighter 6 that was deferred until the release of DLC. We anticipate this revenue will gradually be recognized in net sales by the end of FY2024.
*YoY on the Balance Sheet indicates percent change from the end of the previous yearAssets 2020/3 Yo Y 2021/3 Yo Y 2022/3 Yo Y 2023/3 Yo Y 2023/6 Yo Y Difference
Cash on hand and in banks 65,657 24% 71,239 9% 107,262 51% 102,116 -5% 108,624 6% 6,508
Notes receivable – trade & Accounts receivable – trade 15,959 14% 25,096 57% 7,932 -68% 25,097 216% 16,797 -33% -8,300
Work in progress for game software 21,222 25% 24,443 15% 31,192 28% 38,510 24% 39,819 3% 1,309
Others 40,628 3% 42,934 6% 40,979 -5% 51,642 26% 50,781 -2% -861
Total assets 143,466 16% 163,712 14% 187,365 14% 217,365 16% 216,021 -1% -1,344
Liabilities
Notes and accounts payable – trade & Electronically recorded monetary liabilities 5,844 14% 3,702 -37% 3,601 -3% 5,529 54% 3,851 -30% -1,678
Deferred income 7,642 383% 6,673 -13% 8,932 34% 5,455 -39% 1,601 -71% -3,854
Others 30,245 8% 32,543 8% 28,357 -13% 45,252 60% 36,392 -20% -8,860
Total liabilities 43,731 26% 42,918 -2% 40,890 -5% 56,236 38% 41,844 -26% -14,392
Total net assets 99,735 12% 120,794 21% 146,475 21% 161,129 10% 174,176 8% 13,047
Total liabilities and net assets 143,466 16% 163,712 14% 187,365 14% 217,365 16% 216,021 -1% -1,344 2019/6 Yo Y 2020/6 Yo Y 2021/6 Yo Y 2022/6 Yo Y 2023/6 Yo Y Difference
Cash flows from operating activities 6,943 – 8,041 – 34,300 – -5,522 – 12,979 – 18,501
　　 Net income before income taxes 7,699 – 10,618 – 23,898 – 12,805 – 25,866 – 13,061
　　 Increase (decrease) in notes and accounts receivable – trade 9,602 – 8,892 – 10,673 – -10,178 – 8,433 – 18,611
　　 Decrease (increase) in work in progress for game software -3,412 – -536 – 5,023 – -4,693 – -1,293 – 3,400
　　 Decrease (increase) in deferred revenue 1,492 – 3,840 – -3,934 – -7,774
Cash flows from investing activities -835 – -2,074 – -2,067 – -1,363 – -1,833 – -470
Cash flows from financing activities -2,400 – -2,949 – -5,027 – -6,226 – -8,778 – -2,552
Cash and cash equivalents at beginning of year 53,004 – 59,672 – 64,043 – 95,635 – 89,470 – -6,165
Cash and cash equivalents at end of quarter 56,025 – 62,652 – 91,431 – 85,114 – 94,741 – 9,627

7 Capcom Public Relations & Investor Relations Section
Sales and profit up due to digital sales growth and
major new title release in Consumer sub -segment
3 -1. Business Segments – Digital Contents (1)
◼ Digital Contents Performance
(100 million yen)
*Digital license indicates income from providing content etc. to online platforms
*Deferred revenue indicates the variance between deferred revenue and reversed revenue stemming primarily from the release of free downloadable content that typically follows the release of a full game
*YoY indicates percent change from the same term of the previous year2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY 2024/3 Plan
139 1% 214 54% 439 105% 198 -55% 378 91% 1,063
Consumer breakdown
33 -46% 60 82% 184 207% 29 -84% 89 207% 125
101 68% 143 42% 246 72% 163 -34% 285 75% 909
0 – 5 – 19 280% 2 -90% 32
134 11% 203 52% 430 112% 192 -55% 374 95% 1,034
-5 – -38 -660% 40 205%
5 -17% 11 120% 9 -18% 6 -33% 4 -33% 29
77 35% 118 53% 244 107% 125 -49% 246 97% 589
55.3% – 55.0% – 55.7% – 63.1% – 65.2% – 55.4%
Deferred revenue portion
Net sales
Operating income
Operating margin
Package sales
Consumer total
Mobile Contents
Digital sales (incl. digital license)
Digital license portion

8 Capcom Public Relations & Investor Relations Section
◼ Unit Sales for the 3 Months (Consumer)
3 -1. Business Segments – Digital Contents (2)
(units in thousands)
Record first -quarter sales volume driven primarily by
overseas and digital sales growth
*New titles: titles released in the current fiscal year; Catalog titles: titles released in the previous fiscal year or earli er *Includes distribution titles
*YoY indicates percent change from the same term of the previous yearNew Titles
(SKU)
Titles sold /
sales regions
YoY YoY YoY YoY YoY YoY
0% 111% 45% -12% 15% 8%
Share YoY Share YoY Share YoY Share YoY Share YoY Share YoY
Overseas units 3,800 87.4% 2.7% 8,100 88.0% 113.2% 10,800 81.2% 33.3% 8,700 74.4% -19.4% 10,800 80.0% 24.1% 37,900 84.2% 13.1%
Japan units 550 12.6% -15.4% 1,100 12.0% 100.0% 2,500 18.8% 127.3% 3,000 25.6% 20.0% 2,700 20.0% -10.0% 7,100 15.8% -13.4%
Digital units 3,200 73.6% 18.5% 7,350 79.9% 129.7% 9,100 68.4% 23.8% 10,400 88.9% 14.3% 11,600 85.9% 11.5% 42,500 94.4% 13.9%
Physical units 1,150 26.4% -30.3% 1,850 20.1% 60.9% 4,200 31.6% 127.0% 1,300 11.1% -69.1% 1,900 14.1% 46.2% 2,500 5.6% -43.2%
Catalog units 3,900 89.7% 20.0% 6,600 71.7% 69.2% 8,800 66.2% 33.3% 9,000 76.9% 2.3% 9,800 72.6% 8.9% 35,700 79.3% 21.8%
New units 450 10.3% -59.1% 2,600 28.3% 477.8% 4,500 33.8% 73.1% 2,700 23.1% -40.0% 3,700 27.4% 37.0% 9,300 20.7% -25.0%
Major titles
New
Catalog
Resident Evil 4
Monster Hunter Rise Monster Hunter World: Iceborne Resident Evil Village
Monster Hunter Rise: Sunbreak Resident Evil 2
Monster Hunter: World(12 titles total)
Monster Hunter: World
Devil May Cry 5
Resident Evil 2
Monster Hunter World: Iceborne Resident Evil 2
Resident Evil 7 biohazardMonster Hunter: World
Monster Hunter RiseResident Evil 7 biohazard
Monster Hunter World: Iceborne Resident Evil 2
Resident Evil 3
Monster Hunter RiseDevil May Cry 5
Dragon’s Dogma: Dark A risen Street Fighter V
Monster Hunter: World
Resident Evil 4 Monster Hunter Rise: Sunbreak
Resident Evil 2
Resident Evil 3
Monster Hunter Rise
Dragon’s Dogma: Dark A risen (Nintendo Switch vers.) Resident Evil 3 Resident Evil Village
13,500 45,000 4,350 9,200 13,300
Total
unit sales
297 　/　206 283 　/　224 281 　/　198 290 　/　198 299 　/　200
11,700
12 21 31
2024/3 Plan 2019/6 2020/6 2021/6 2022/6 2023/6
Monster Hunter Rise: Sunbreak
Street Fighter 6
MegaMan Battle Network Legacy Collection Vol. 1 & Vol. 2
Street Fighter 6Exoprimal
7 6 5

9 Capcom Public Relations & Investor Relations Section
3 -1. Business Segments – Digital Contents (3)
◼ 3 Months Highlights (Consumer)
⚫ New title Street Fighter 6 sold 2 million units (as of July 7, 2023)
⚫ Resident Evil 4 sold 5 million units cumulatively (as of July 20, 2023)
⚫ FY23 Top Title Unit Sales
Focused on launch of new titles and
long -term catalog title sales through pricing strategies
◼ 3 Months Highlights (Mobile Contents)
⚫ Focused activities primarily on existing title operations
Street Fighter 6
(10 thousand units)
*Total figure for MegaMan Battle Network Legacy Collection Vol. 1 and Vol. 2Title FY23 Lifetime
Street Fighter 6 197 197
MegaMan Battle Network Legacy Collection* 132 132
Resident Evil 4 117 495
Monster Hunter Rise: Sunbreak 66 610
Resident Evil 2 65 1,260
Resident Evil 3 54 760
Monster Hunter Rise 50 1,320

10 Capcom Public Relations & Investor Relations Section
◼ 3 Months Highlights
⚫ Opened Kids Banet Shizuoka Store (Shizuoka prefecture) on
April 25 and Crazy Banet at Aeon Mall Niihama (Ehime
Prefecture) on June 23
◼ 3 Months Business Results
(stores) ◼ Number of Stores
Sales and profit up due to new and
existing store contributions
3 -2. Business Segments – Arcade Operations
(100 million yen)
*YoY indicates percent change from the same term of the previous year
Kids Banet Shizuoka Store2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY 2024/3 Plan
Net sales 27 14% 11 -56% 23 102% 32 38% 41 25% 180
Operating income 2 109% -5 – -0 – 1 – 3 102% 13
Operating margin 11.0% – – – – – 5.7% – 9.1% – 7.2%
Same store sales 113% – 37% – 214% – 130% – 109% – 105% 2020/3 YoY 2021/3 YoY 2022/3 YoY 2023/3 YoY 2023/6 YoY 2024/3 Plan
New stores 3 – 1 – 2 – 5 – 2 – 4
Closed stores 0 – 0 – 1 – 2 – 0 – 0
Total 40 8% 41 3% 42 2% 45 7% 47 4% 49

11 Capcom Public Relations & Investor Relations Section
Sales and profit up from catalog sales,
driven by highly -popular titles
3 -3. Business Segments – Amusement Equipments
(100 million yen)
*YoY indicates percent change from the same term of the previous year
◼ 3 Months Highlights
⚫ Total 3,000 units sold (FY6/22: 1 new title; 2,700 units sold
(includes catalog title sales) )
Catalog titles: Monster Hunter World: Iceborne : 2,000 units sold,
Shin Onimusha 2 : 1,000 units sold
◼ 3 Months Business Results
◼ Pachislo Sales Volume
*Includes catalog title sales2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY 2024/3 Plan
New titles 0 – 0 – 1 – 1 – 0 – 4
Sales (thousand units) – – – – 6 – 2.7 -55% 3 11% 37 2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY 2024/3 Plan
Net sales 2 -40% 1 -20% 12 608% 6 -49% 8 38% 100
Operating income 1 186% 0 -47% 2 242% 2 11% 6 151% 37
Operating margin 59.1% – 39.2% – 19.0% – 41.6% – 75.5% – 37.0%

12 Capcom Public Relations & Investor Relations Section
Promoting Single Content Multiple Usage strategy
in conjunction with game sales
3 -4. Business Segments – Other Businesses
◼ 3 Months Business Results
◼ 3 Months Highlights
⚫ Actively carried out merchandising for goods related to major titles
⚫ New full -length CG animation Resident Evil: Death Island in Japanese
theaters starting July 7
⚫ Esports tournament Capcom Pro Tour 2023 kicks off in August, aim to
promote sales of featured title Street Fighter 6
(100 million yen)
*YoY indicates percent change from the same term of the previous year
Resident Evil: Death Island
© 2023 CAPCOM / DEATH ISLAND FILM PARTNERS ALL RIGHTS
RESERVED .
*Beginning FY23/6, business results for Media have been incorporated with eSports. This change has been reflected in the abov e f ull year FY24/3 plan and business results for previous years. 2019/6 YoY 2020/6 YoY 2021/6 YoY 2022/6 YoY 2023/6 YoY 2024/3 Plan
10 54% 8 -14% 8 -5% 14 73% 9 -33% 57
Character 7 – 7 0% 13 86% 9 -31% 50
eSports/Media 1 – 1 0% 1 0% 0 -58% 7
6 56% 5 -20% 4 -6% 8 70% 4 -40% 16
Character 5 – 5 0% 9 80% 6 -33% 31
eSports/Media -0 – -0 – -1 – -2 – -15
62.4% – 58.1% – 57.9% – 57.0% – 51.0% – 28.1%
Operating income
Operating margin
Net sales

13 Capcom Public Relations & Investor Relations Section
4 -1. Supplement: Summary of Major Financial Information
*YoY indicates percent change from the same term of the previous year● Profit and Loss Sheet (million yen)
2020/3 YoY 2021/3 YoY 2022/3 YoY 2023/3 YoY 2024/3 plan YoY 2023/6
Net Sales 81,591 -18.4% 95,308 16.8% 110,054 15.5% 125,930 14.4% 140,000 11.2% 43,858
Gross Profit 40,947 10.0% 52,741 28.8% 61,317 16.3% 73,819 20.4% 83,000 12.4% 30,271
Margin (%) 50.2% – 55.3% – 55.7% – 58.6% – 59.3% – 69.0%
Sales and G&A Expenses 18,119 -5.0% 18,145 0.1% 18,408 1.5% 23,006 25.0% 27,000 17.4% 6,224
Operating Income 22,827 25.8% 34,596 51.6% 42,909 24.0% 50,812 18.4% 56,000 10.2% 24,047
Margin (%) 28.0% – 36.3% – 39.0% – 40.3% – 40.0% – 54.8%
Ordinary Income 22,957 26.2% 34,845 51.8% 44,330 27.2% 51,369 15.9% 56,000 9.0% 25,865
Margin (%) 28.1% – 36.6% – 40.3% – 40.8% – 40.0% – 59.0%
15,949 27.1% 24,923 56.3% 32,553 30.6% 36,737 12.9% 40,000 8.9% 18,163
Margin (%) 19.5% – 26.1% – 29.6% – 29.2% – 28.6% – 41.4%
● Sales and Profit by Business Segments (million yen)
2020/3 YoY 2021/3 YoY 2022/3 YoY 2023/3 YoY 2024/3 plan YoY 2023/6
Net Sales 59,942 -27.8% 75,300 25.6% 87,534 16.3% 98,158 12.1% 106,300 8.3% 37,875
Operating Income 24,161 3.6% 37,002 53.2% 45,359 22.6% 53,504 18.0% 58,900 10.1% 24,679
Margin (%) 40.3% – 49.1% – 51.8% – 54.5% – 55.4% – 65.2%
Net Sales 12,096 9.5% 9,871 -18.4% 12,404 25.7% 15,609 25.8% 18,000 15.3% 4,117
Operating Income 1,211 10.5% 149 -87.7% 652 337.6% 1,227 88.2% 1,300 6.0% 375
Margin (%) 10.0% – 1.5% – 5.3% – 7.9% – 7.2% – 9.1%
Net Sales 6,533 90.9% 7,090 8.5% 5,749 -18.9% 7,801 35.7% 10,000 28.2% 898
Operating Income 2,085 – 2,407 15.4% 2,348 -2.5% 3,433 46.2% 3,700 7.8% 678
Margin (%) 31.9% – 33.9% – 40.8% – 44.0% – 37.0% – 75.5%
Net Sales 3,018 17.2% 3,045 0.9% 4,366 43.4% 4,360 -0.1% 5,700 30.7% 968
Operating Income 544 -32.9% 987 81.4% 1,517 53.7% 1,433 -5.5% 1,600 11.7% 494
Margin (%) 18.0% – 32.4% – 34.7% – 32.9% – 28.1% – 51.0%
Net income attributable to owners of the parent
Digital Contents
Arcade Operations
Amusement
Equipments
Others

14 Capcom Public Relations & Investor Relations Section
◼ Cumulative Unit Sales and Examples of Brand Utilization
Capcom owns a wealth of globally popular
brands originating from its games
4 -2. Supplement: Our Major IP
• Resident Evil series: 146 million units
The Mercenaries free DLC for
Resident Evil 4 released
Street Fighter 6 , the latest title in the
series, sells over 2 million units
cumulatively (as of July 7, 2023)
Monster Hunter Rise: Sunbreak
tops cumulative 6 million units in sales
• Street Fighter series: 52 million units
• Monster Hunter series: 94 million units
• Mega Man series: 40 million units
• Dragon’s Dogma series: 7.7 million units
• Devil May Cry series: 29 million units