Capcom dramatically increases profit forecast

Capcom has significantly revised its earnings outlook for the first half of the fiscal year ending March 31, 2012, based on better than expected performances across a number of its business units. The company now expects net sales for the six months ending September 30 to total 28 billion yen (£231 million), up from its May 6 outlook of 26 billion yen (£214 million), and net profits of 800 million yen (£6.6 million), 300 per cent higher than previously forecast. Explaining the revisions, the company said its Mobile Contents business “is performing well mainly because of the popularity of Smurfs’ Village”, its Consumer Online Games business “has benefited from strong sales of Monster Hunter Frontier Online and other titles”, and its Arcade Operations unit “is performing well because operations have resumed at all locations that were closed after the Great East Japan Earthquake, sales at existing arcades have recovered, and the impact of the electricity shortage was not as severe as expected”. The company didn’t make any changes to its full fiscal year forecast “because the economic outlook is becoming increasingly uncertain and market conditions are changing rapidly”.