# KONAMI GROUP CORPORATION: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第54期(2025/04/01－2026/03/31) (S100YKX5)
> Page: https://vizora.meequs.com/en/company/konami-group
> Retrieved: 2026-09-30T20:25:55.434Z

## Company

Konami, founded in 1973, is a company in Games listed on TSE Prime. It has 5,186 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KONAMI GROUP CORPORATION |
| Ticker | 9766 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9766.T) |
| Listing | TSE Prime |
| Head office | 東京都中央区銀座一丁目11番1号 |
| Representative (per filing) | 代表取締役社長 グループCEO 東尾 公彦 |
| Founded | Mar 1973 |
| Share capital | ¥47.4B |
| Employees (consolidated) | 5,186 |
| Average salary (parent only) | ¥8.5M |
| Fiscal year end | March |
| Website | www.konami.com (https://www.konami.com/) |
| Corporate number | 9010401070789 |
| EDINET | E01956 |
| Industries (Vizora) | Games, Amusement Centers & Karaoke, Sporting Goods & Fitness, Pachinko |

> Profile source: annual securities report (S100YKX5, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Games (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 86.6 | 41 |
| Cash conversion | 56.5 | 31 |
| Efficiency | 47.6 | 41 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 75% of Konami's sales come from Digital Entertainment, with Sports and Gaming and Systems making up much of the rest.
- Out of every ¥100 of sales, about ¥27 is left as operating profit.
- Revenue changed +17.1% from the prior year, operating profit +33.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥493.7B |  |
| Operating income | ¥135.9B | Margin 27.5% |
| Net income | ¥100B | Margin 20.3% |
| Free cash flow | — |  |
| Largest business | Digital Entertainment | of segment revenue 75.0% |
| Employees (consolidated) | 5,186 |  |
| EPS | ¥737.8 |  |
| Diluted EPS | ¥737.8 |  |
| Book value per share | ¥2722.69 |  |
| Equity ratio | 75.4% | Derived from disclosed figures |
| Shares outstanding | 143,500,000 |  |
| Treasury shares | 7,943,500 |  |
| Shareholders | 13,948 |  |
| Average salary (parent only) | ¥8.5M | Filing company only |
| Cash ratio | 43.7% | Cash ÷ revenue 66.4% |
| Vs. industry median margin | +22.1 pp | Games |
| ROE | 19.1% | Derived from disclosed figures |
| ROA | 14.1% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 90% of positive segment profit
- FY2026, cash is 44% of total assets
- FY2026, operating income keeps 27 per ¥100 of revenue

## What changed in 6 years

| Metric | FY ending Mar 2020 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥262810000000 | ¥493677000000 | +87.8% |
| Operating income | ¥30972000000 | ¥135891000000 | +338.8% |
| Operating margin | 11.8% | 27.5% | +15.7 pp |
| Employees | 5,057 people | 5,186 people | +2.6% |
| Cash and equivalents | ¥131432000000 | ¥327564000000 | +149.2% |

### Change in segment revenue mix

Span: FY ending Mar 2020 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| デジタルエンタテインメント事業 → デジタルエンタテインメント事業 | 58.1% |
| アミューズメント事業 → 事業再編・廃止 | 8.8% |
| ゲーミング＆システム事業 → ゲーミング＆システム事業 | 8.7% |
| ゲーミング＆システム事業 → 事業再編・廃止 | 2.1% |
| スポーツ事業 → スポーツ事業 | 10.0% |
| スポーツ事業 → 事業再編・廃止 | 12.4% |
| 新設・再編 → デジタルエンタテインメント事業 | 16.9% |
| 新設・再編 → アーケードゲーム事業 | 5.1% |
| 新設・再編 → その他 | 1.2% |

Segment revenue source references: 9 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Digital Entertainment | 6 years | +15.9% | ¥370225000000 | 36.7% | 2 |
| Sports | 6 years | -2.9% | ¥49146000000 | 6.9% | 2 |
| Gaming and Systems | 6 years | +7.2% | ¥43062000000 | 8.5% | 2 |
| Arcade Game | — | — | ¥25295000000 | 26.8% | 2 |
| Other | — | — | ¥5949000000 | 9.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 493,677 | 100.0% | S100YKX5 |
| Cost of revenue | 250,498 | 50.7% | S100YKX5 |
| Gross profit | 243,179 | 49.3% | S100YKX5 |
| SG&A | 99,596 | 20.2% | S100YKX5 |
| Operating income | 135,891 | 27.5% | S100YKX5 |
| Pretax income | 140,667 | 28.5% | S100YKX5 |
| Income tax | 40,654 | 8.2% | S100YKX5 |
| Net income | 100,013 | 20.3% | S100YKX5 |
| Net income attributable to owners | 100,013 | 20.3% | S100YKX5 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 20 |
| Other operating | 2 |
| Operating income | 27 |
| (Ref.) Net income | 20 |

### Margin funnel

Gross margin 49.3% → Operating margin 27.5% → Net margin 20.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.1%; Core profit growth: +33.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.95×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 421,602 | 493,677 | 72,075 | +17.1% |
| Gross profit | 198,921 | 243,179 | 44,258 | +22.2% |
| Operating income | 101,944 | 135,891 | 33,947 | +33.3% |
| Net income attributable to owners | 74,692 | 100,013 | 25,321 | +33.9% |
| Operating cash flow | 114,620 | 135,664 | 21,044 | +18.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 229,922 | 36,359 | 15.8% | 25,951 | 43,759 | — | S100LSMH |
| FY ending Mar 2018 | 239,497 | 45,181 | 18.9% | 30,507 | 53,980 | — | S100OKD9 |
| FY ending Mar 2019 | 262,549 | 50,522 | 19.2% | 34,196 | 49,131 | — | S100R8NA |
| FY ending Mar 2020 | 262,810 | 30,972 | 11.8% | 19,892 | 51,166 | — | S100TV6W |
| FY ending Mar 2022 | 299,522 | 74,435 | 24.9% | 54,806 | 96,542 | — | S100YKX5 |
| FY ending Mar 2023 | 314,321 | 46,185 | 14.7% | 34,895 | 36,098 | — | S100YKX5 |
| FY ending Mar 2024 | 360,314 | 80,262 | 22.3% | 59,171 | 103,061 | — | S100YKX5 |
| FY ending Mar 2025 | 421,602 | 101,944 | 24.2% | 74,692 | 114,620 | — | S100YKX5 |
| FY ending Mar 2026 | 493,677 | 135,891 | 27.5% | 100,013 | 135,664 | — | S100YKX5 |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥95.2M |
| Operating income per employee (consolidated) | ¥26.2M |
| Net income per employee (consolidated) | ¥19.3M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 4,894 | 4,881 | 4,890 | 5,045 | 5,186 |
| Average salary (parent company) | ¥7.4M | ¥7.3M | ¥7.1M | ¥7.9M | ¥8.5M |
| Average age (parent company) | 39.3 years | 37.1 years | 36.3 years | 35.6 years | 35.5 years |
| Average tenure (parent company) | 11.9 years | 10.5 years | 10.2 years | 10.0 years | 10.8 years |

Year over year: Employees (consolidated) +2.8% · Revenue (consolidated) +17.1%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Digital Entertainment | 370,225 | 75.0% | 136,006 | 36.7% |
| Arcade Game | 25,295 | 5.1% | 6,779 | 26.8% |
| Gaming and Systems | 43,062 | 8.7% | 3,650 | 8.5% |
| Sports | 49,146 | 10.0% | 3,411 | 6.9% |
| Other | 5,949 | 1.2% | 538 | 9.0% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Digital Entertainment | 75.0% | 90.4% | 15.4 | 36.7% |
| Arcade Game | 5.1% | 4.5% | -0.6 | 26.8% |
| Gaming and Systems | 8.7% | 2.4% | -6.3 | 8.5% |
| Sports | 10.0% | 2.3% | -7.7 | 6.9% |
| Other | 1.2% | 0.4% | -0.8 | 9.0% |

Segment → industry: Arcade Game → Games / Digital Entertainment → Games / Arcade Game → Amusement Centers & Karaoke / Sports → Sporting Goods & Fitness / Gaming and Systems → Pachinko

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 135,664 | 27.5% | S100YKX5 |
| Investing cash flow | -55,323 | -11.2% | S100YKX5 |
| Financing cash flow | -51,897 | -10.5% | S100YKX5 |
| Dividends paid | 24,719 | 5.0% | S100YKX5 |
| Change in cash | 33,348 | 6.8% | S100YKX5 |
| Cash and equivalents | 327,564 | 66.4% | S100YKX5 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 250,711 | 219,263 | 273,747 | 294,216 | 327,564 | S100TV6W, S100W7UN, S100YKX5 |
| Total assets | 528,613 | 547,223 | 605,850 | 665,040 | 748,765 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Net assets | 348,076 | 376,279 | 427,378 | 481,868 | 564,553 | S100TV6W, S100W7UN, S100YKX5 |
| Share capital | 47,399 | 47,399 | 47,399 | 47,399 | 47,399 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Property, plant and equipment | 138,869 | 155,788 | 154,454 | 163,617 | 187,186 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Goodwill | 15,633 | 15,700 | 15,807 | 15,795 | 15,857 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Current assets | 299,626 | 290,041 | 343,860 | 366,836 | 424,514 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Total liabilities | 180,537 | 170,944 | 178,472 | 183,172 | 184,212 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Equity attributable to owners of parent | 348,061 | 376,264 | 427,362 | 481,852 | 564,537 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Retained earnings | 245,802 | 260,435 | 302,797 | 359,189 | 434,363 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |
| Treasury stock | -26,868 | -21,594 | -21,603 | -21,617 | -21,626 | S100R8NA, S100TV6W, S100W7UN, S100YKX5 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 44% | S100YKX5 |
| Property, plant and equipment | 25% | S100YKX5 |
| Intangibles and goodwill | 2% | — |
| Other assets | 29% | S100YKX5 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100YKX5 |
| Equity | 75% | S100YKX5 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 528,613 | 547,223 | 605,850 | 665,040 | 748,765 |
| Equity | 348,076 | 376,279 | 427,378 | 481,868 | 564,553 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 250,711 | 219,263 | 273,747 | 294,216 | 327,564 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 37.9% | S100YKX5 |
| Fixed assets ÷ total assets | 25.0% | S100YKX5 |
| Goodwill ÷ parent equity | 2.8% | S100YKX5 |

Goodwill over 4 years: 15,633 → 15,857 JPY; total investing cash flow: -218,203 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 43.7% |
| Cash ÷ revenue | 66.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 99.8% |
| Cash vs. profit gap | 35,651 JPY mn (of net income 35.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 24.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 40.8% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 18.3% | 0.57× | 10.4% | 1.52× | 15.7% | S100R8NA, S100YKX5 |
| 2023 | 11.1% | 0.58× | 6.5% | 1.49× | 9.6% | S100TV6W, S100YKX5 |
| 2024 | 16.4% | 0.62× | 10.3% | 1.43× | 14.7% | S100W7UN, S100YKX5 |
| 2025 | 17.7% | 0.66× | 11.8% | 1.40× | 16.4% | S100YKX5 |
| 2026 | 20.3% | 0.70× | 14.1% | 1.35× | 19.1% | S100YKX5 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 20.9% | 2026-03-31 |
| 一般財団法人上月財団 | Major shareholder | 12.6% | 2026-03-31 |
| KOZUKI HOLDING B.V. （常任代理人 三菱UFJモルガン・スタンレー証券株式会社） | Major shareholder | 11.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 10.7% | 2026-03-31 |
| コウヅキキャピタル株式会社 | Major shareholder | 5.2% | 2026-03-31 |
| JP MORGAN CHASE BANK 380752 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.8% | 2026-03-31 |
| HSBC HONG KONG-TREASURY SERVICES A/C ASIAN EQUITIES DERIVATIVES （常任代理人 香港上海銀行東京支店） | Major shareholder | 1.8% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行 決済営業部） | Major shareholder | 1.2% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.0% | 2026-03-31 |
| GIC PRIVATE LIMITED-C （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 0.8% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for the FY ending Mar 2026 was ¥493.7B, up 17.1% from ¥421.6B.
- Operating income climbed 33.3% to ¥135.9B and net income attributable to owners rose 33.9% to ¥100B, both outpacing sales.
- Operating cash flow also grew 18.4% to ¥135.7B.

### Drivers

- Core titles in Digital Entertainment did well: eFootball kept growing on console, PC and mobile, and new releases included METAL GEAR SOLID Δ: SNAKE EATER and SILENT HILL f
- Sports segment profit rose as Konami opened more Pilates studios and took on more contracts to run public sports facilities
- Gaming and Systems profit fell sharply, hit by US tariffs and customers holding off purchases ahead of a new slot cabinet

### Risks

- Delays or quality problems with new game releases could hurt sales and profit plans
- Entertainment is highly competitive and player tastes shift quickly, which could erode Konami's position
- Overseas, tariffs, currency swings and changes in local rules, including casino licensing, could weigh on results

Cited: Annual Securities Report (54th fiscal year) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report (54th fiscal year) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第54期(2025/04/01－2026/03/31) | S100YKX5 | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKX5,, |
| 有価証券報告書－第53期(2024/04/01－2025/03/31) | S100W7UN | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7UN,, |
| 有価証券報告書－第52期(2023/04/01－2024/03/31) | S100TV6W | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TV6W,, |
| 有価証券報告書－第51期(2022/04/01－2023/03/31) | S100R8NA | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8NA,, |
| 有価証券報告書－第50期(令和3年4月1日－令和4年3月31日) | S100OKD9 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKD9,, |
| 有価証券報告書－第49期(令和2年4月1日－令和3年3月31日) | S100LSMH | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSMH,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| リソルホールディングス | Alliance | 業務提携 | S100YKX5 |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).