Konami reports 229.8 percent rise in profit

Konami Holdings Corporation saw its profits increase 229.8 percent to JPY 20.7 billion (US$183.4 million) for the nine month period ended December 31, 2016, according to a filing from the company.

The Japanese corporation, which produces a variety of products including Pachinko and Pachislot machines, mobile games, arcade games and health & fitness clubs saw consolidated total revenue reach JPY 163.9 billion in the nine months ended December 31, a 8.5 percent decline from the previous year.

In September last year, the company restructured its business by combining its Arcade Games Business with its Pachislot & Pachinko Machines Business, referring to the duo as “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 Konami referring to its Amusement business.

Regarding its Gaming & Systems business, which includes its slot machines and cabinets manufacturing business, Konami said it saw an increase in total revenue on a local currency basis compared to the same period in the previous year.

“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,” said the company.