Konami Q1 2022 earnings results delay full-year guidance due to COVID-19 issues

In its Q1 2022 earnings results, Konami announced it could not share guidance due to ongoing matters related to COVID-19 in Japan.

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As we cross another fiscal quarter of the year, companies are continuing to share financial results speaking to the state of business across the past few months, including those in the technology and video game industry. Konami in particular is not quite the gaming juggernaut it used to be, but it’s still one of the most notable among Japanese developers and publishers. Konami recently published its Q1 2022 earnings which included a number of strong performances in mobile titles and trading card markets. However, due to visibility issues caused by the COVID-19 pandemic and national efforts to combat the virus, Konami was forced to delay full-year guidance in this report.

Konami released its Q1 2022 earnings results on its Investor Relations webpage on August 5, 2021. One of the most standout details of the report is that Konami could not offer full-year guidance to investors at this time.

“Earnings visibility remains low given COVID-19 related factors including declarations of state-of-emergency and timeline of vaccine rollout,” the report states on Page 7. “Hence, consolidated earnings outlook for the fiscal year ending March 2022 has not been determined with the challenging circumstances to make a reasonable calculation.”

Despite issues, Konami's fall quarter should prove to be interesting with the launch of free-to-play soccer sim eFootball upcoming.
Despite issues with COVID-19 in Q1 2022, Konami's fall quarter should prove to be interesting with the launch of free-to-play soccer sim eFootball upcoming.

Despite this, Konami was able to share some good news for its company. Its ongoing business was highlighted by the success of mobile and trading card games and products. In particular eFootball PES 2021, Professional Baseball Spirits A, and Yu-Gi-Oh! have continued to drive revenue for the company, amounting to 49.9 billion yen of revenue in Q1 2022 - up sizably from its 42.8 billion yen finish in Q1 2021. Konami is also preparing to bolster its sports titles with the release of games-as-a-service soccer title eFootball, which is transferring from the classic Pro Evolution Soccer brand to a free-to-play format this Fall 2021.

Konami’s inability to provide full-year guidance at this time may be alarming to investors, but the company has shared that it will provide said guidance as soon as the opportunity becomes possible. For more reporting on recent and upcoming fiscal quarterly earnings results, stay tuned right here at Shacknews.

News Editor

TJ Denzer is a player with a passion for games that has dominated a lifetime. When he's not handing out beatdowns in the latest fighting games, exploring video game history, or playing through RPGs with his partner, he's searching for new food and drinks in the constant pursuit of good times with good people inside and outside the South Texas area. You can also find him on Twitter @JohnnyChugs.

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