Capcom – Catalysts for Earnings Stability

Capcom – Underlying Profitability Improvement Drives Breakout to All Time Highs

Capcom – 4 Key Titles Next Year Could Drive Guidance Above Consensus

Is Capcom’s ‘Golden Age’ Here to Stay?

Equity Analyst, LightStream Research

Farha Sabri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<p>Capcom’s top line grew by 4.3% YoY to JPY17,938m while its OP grew by 50.8% YoY to JPY7,703m in 1QFY03/2020. Bottomline significantly outperformed consensus expectations. In 1Q, the company enjoyed strong sales of higher margin digital downloads which led to OP growth. Capcom has still not confirmed any game releases for the rest of the year except for the Iceborne expansion. However, the company's share price rallied by approx. 15% since its latest earnings release. </p>

Capcom’s top line grew by 4.3% YoY to JPY17,938m while its OP grew by 50.8% YoY to JPY7,703m in 1QFY03/2020. Bottomline significantly outperformed consensus expectations. In 1Q, the company enjoyed strong sales of higher margin digital downloads which led to OP growth. Capcom has still not confirmed any game releases for the rest of the year except for the Iceborne expansion. However, the company's share price rallied by approx. 15% since its latest earnings release. 

Capcom 1Q OP Soars on the Back of Profitable Digital Downloads

Capcom Co Ltd

Capcom 1Q OP Soars on the Back of Profitable Digital Downloads