Koei Tecmo, the Japanese video game developer and publisher, has released its financial year 2022 report, citing an 8% increase in revenue from the previous year to $584.3 million. The company claims that its two major releases, Wild Hearts and Wo Long, contributed significantly to this increase in revenue. However, despite the revenue growth, Koei Tecmo reported a 12.5% decrease in net profits compared to the previous year, with a net profit of $230.5 million.
MauroNL, an industry analyst, pointed out the revenue growth but also highlighted the hit dealt to net profits. Koei Tecmo’s decision to withhold sales numbers for Wild Hearts and Wo Long raised eyebrows, particularly as the company had otherwise gained favorable responses since their release. Both games were released in close succession, with Wild Hearts on February 17 and Wo Long on March 3.
In contrast, the company revealed sales data for some of its other games. Atelier Ryza 3: Alchemist of the End & the Secret Key sold 290,000 copies worldwide after its March 23 release, while Fatal Frame: Mask of the Lunar Eclipse remaster sold 120,000 copies since its March 9 release.
Despite the mixed results, Koei Tecmo has expressed optimism for its future. The company expects to ship 10.4 million copies of its games worldwide for the financial year 2023, following an 18.6% increase in shipments from the previous year, when it shipped 9.64 million copies.
Koei Tecmo has also announced its next title for FY23, Rise of the Ronin, which will release for PlayStation in 2024.
