By Kosaku Narioka

Shares of Capcom, the renowned video game developer, experienced a significant surge in value on Thursday morning following the announcement that its net profit for the first quarter had more than doubled. This substantial growth was primarily driven by the exceptional sales performance of their latest installment in the iconic “Street Fighter” series.

The company’s shares witnessed a remarkable 13% increase, reaching 6,407 yen. At their peak, they soared as high as 15%.

Capcom reported that their net profit for the quarter ended in June surged to Y18.16 billion ($129.5 million), compared to Y9.01 billion in the same period of the previous year.

The revenue for the first quarter depicted a striking rise of 74%, totaling Y43.86 billion. Game software sales played a crucial role in this growth, surging by 15% and reaching an impressive 13.5 million copies sold. Notably, “Street Fighter 6,” which was released in June, accounted for 1.97 million of these copies. Furthermore, existing titles from the popular “Monster Hunter” and “Resident Evil” franchises displayed robust sales performance.

Despite this remarkable success, Capcom has decided to maintain its earnings forecasts for the fiscal year ending in March 2024. The company projects an 11% increase in revenue, reaching Y140.00 billion, while also expecting net profit to rise by 8.9% to Y40.00 billion.

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