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Capcom records lowest net income since 2004

Annual report reveals publisher is $70m down from last year

Capcom's yearly financial reports indicate that the company has seen a substantial reduction in net income during the fiscal year ending 31 March 2010, with the company citing net incomes of ¥2,167 million (£16.09 m) after taxes, compared to last year's ¥8,063 million (£59.87 m).

It's the Japanese publisher's lowest net income figure since 2004, when it posted a loss of ¥9,158 million (£68 m). The poor results have been blamed on the delay of major titles into fiscal year 2011 such as Dead Rising 2 and Monster Hunter Diary.

"Earnings this year were lower than in the previous fiscal period but Capcom is now ready to get back on a growth trajectory once again," said CEO Kenzo Tsujimoto.

Monster Hunter Freedom Unite for PSP was the year's biggest seller for Capcom, outselling the Wii's Monster Hunter Tri by 200,000 units.

The annual report reveals that 65.9 per cent of the year's business had been in the home videogame market for the company, with 17.9 per cent from arcade operations being the second largest contributor.

The paper also says that $1.9 billion (£1.20 bn) has been wiped off the international videogame market between 2008 and 2009, and predicts a further $2 billion (£1.27 bn) to be lost by the end of 2010.

It blames a lack of new hardware, lower unit prices and the increase in digital distribution for the decline.

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