GGRAsia – Konami Corp announces interim dividend

Konami Corp announces interim dividend

Nov 06, 2014 Newsdesk Japan, Latest News, Top of the deck

Konami Corp said it would pay an interim dividend of JPY8.50 (US$0.07) per share for fiscal year ending March 31, 2015. The dividend will be paid to shareholders or registered pledgees of shares as of September 30, the firm said in a statement on Thursday.

Konami’s gaming and systems division on Thursday reported net revenue of JPY13.6 billion for the six months ended September 30, a slight increase of 0.1 percent from a year earlier.

“Sales of the Podium video slot machine continued to be favourable, mainly in the U.S. market,” the company said in a filing.

U.S.-based Konami Gaming Inc, a subsidiary of the Japanese entertainment conglomerate, has said it is investing heavily in games with an Asian appeal.

The Japanese conglomerate stated in is latest results that operating income from the gaming and systems division reached JPY2.0 billion, down 34 percent year-on-year.

“We intend to stabilise our operational results by increasing periodical income through the expansion of [slot revenue] participation agreements as part of our strategy of profit sharing with operators and adequately responding to the market, as well as enhance sales and address the needs of casino operators by expanding our product line-up,” Konami said in Thursday’s filing.

The firm’s pachinko division reported a 209.6 percent jump in net revenues in the April to September period, to JPY4.5 billion. It still posted an operating income loss of JPY610 million, which compared with a loss of JPY1.1 billion a year earlier.

Konami’s overall net revenue for the six months ended September 30 stood at JPY98.7 billion, up by 0.8 percent in year-on-year terms. Net income rose by 62.5 percent, to JPY3.3 billion.

Besides casino slot gaming and pachinko, Konami is also involved in digital entertainment – including video games and mobile games – and health and fitness.

In a separate statement on Thursday, Konami said it decided to apply for voluntary delisting of its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE) effective from late April 2015.

“The continued listing on the NYSE is not economically justified, taking into account the market changes … and the fact that the trading volume of its ADSs on the NYSE accounts for only a small fraction of the total trading volume of its shares,” the firm explained.

The company plans to maintain its listings on the Tokyo Stock Exchange and the London Stock Exchange.

Starting next year, the company will prepare and disclose its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS), instead of U.S. GAAP, it said.