Konami doubles profits on social games success

Profits at Japanese games publisher Konami almost doubled in the last financial year, thanks to a rise in SNS (social networking services) games on the GREE and Mobage platforms.

Though Konami's net revenue grew by just three percent to ¥265.8 billion (roughly $3,327 billion), profits rose nearly 80 percent to ¥23 billion (roughly $287.8 million).

The company pinned this surge in earnings on its push into mobile and social games.

"With the spread of smartphones and tablet PCs worldwide and the increased popularity of SNS sites, the available means of providing game software continue to diversify, and opportunities to reach an even greater audience for game software are increasing," the company told its investors.

"Against such a backdrop, our belief is that we can increase the number of 'outlets' for the Konami Group's game content by taking advantage of opportunities presented by the emergence of new devices and developing our business around game content."

The year ahead

Konami boasts more than 20 million players registered to its social games.

Card game Dragon Collection spent much of the past 12 months in the number one spot on GREE's charts, with over five million players recorded back in February 2012.

Other big hitters include Mobage's Sengoku Collection, and Professional Baseball Dream Nine, which is available on both Mobage and GREE.

During the next financial year, Konami says it will expand this line-up to support more devices and bring titles to platforms overseas.

It even hinted at a possible deal with major mobile publisher Zynga.

"Looking ahead, we will continue to expand our line-up, utilising previously established production and operational expertise and rich content resources, while continuing to support a wide range of devices and develop towards new overseas platforms, such as the provision of content to Zynga."

[source: Eurogamer]