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Konami holds steady in Q1 despite game sales decreasing

Overall revenue was flat year-on-year but the Japanese firm's digital entertainment segment was down 5.3%

Solid Snake from the Metal Gear franchise is staring at the camera
Image credit: Konami announced Metal Gear Solid Delta: Snake Eater in May 2023

Last week, Konami published its financials for the three months ended June 30, 2023, with the Japanese company's revenue on a par with last year, but its games segment dipping.

The numbers

  • Revenue: ¥72.6 billion ($510 million, up 1% year-on-year)
  • Business profit: ¥17.2 billion ($121 million, up 21.7% year-on-year)
  • Digital entertainment revenue: ¥48.1 billion ($338 million, down 5.3% YoY)

The highlights

After FY2023 sales being mostly flat for its Digital Entertainment segment, Konami has not managed to reverse the trend quite yet.

However, the firm noted that eFootball 2023 continued to "sustain strong performance," and while overall revenue in its games segment was down, its business profit for the category was up 13% to ¥15.1 billion ($106 million).

Looking at Konami's other business segments, its Gaming & Systems vertical performed well during Q1 FY2024, with revenue up 29.9% year-on-year reaching ¥10 billion ($70 million).

Looking ahead, Konami named the launch of the Metal Gear Solid: Master Collection Volume 1 (due in October) and the development of Metal Gear Solid Delta: Snake Eater (announced at the PlayStation Showcase 2023) as highlights of its upcoming projects.

The Metal Gear series has now topped 60 million sales across all titles, VGChartz reported yesterday.

For its forecast for the fiscal year ending in March 2024, Konami expects its revenue to reach ¥328 billion ($2.3 billion), a 4.4% increase over FY2023.

We talked to Konami's last month about how 25 years of Yu-Gi-Oh prepared the company for live service games.

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Marie Dealessandri avatar
Marie Dealessandri: Marie joined in 2019 to head its Academy section. A journalist since 2012, she started in games in 2016. She can be found (rarely) tweeting @mariedeal, usually on a loop about Baldur’s Gate and the Dead Cells soundtrack. GI resident Moomins expert.
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