LogInThe publisher's net sales increased by 32.2% in H1 2023. The company raised its forecasts for the full FY2023 based on successful results delivered in the first half of the year.
Bandai Namco has released its financial results for the first half of the fiscal year ending March 31, 2023 reporting growth in net sales and operating profit.
The company's operating profit saw a growth of 32.2% and amounted to nearly 82 billion yen ($586 million). Net sales increased by 21.3% in H1 2023 reaching 477 billion yen (about $3.4 billion). The 477 billion figure also represents an 11.1% rise compared to what Bandai Namco expected during Q1.
In terms of regions, the highest growth of net sales was seen in Europe where they grew by 74.5% to 45 billion yen ($322 million). The growth in the Americas was also significant – net sales in the region increased by 53.7% to nearly 53 billion yen ($377 million). Net sales in Japan saw a 13.7% growth and reached almost 336 billion yen ($2.4 billion).
The company's digital entertainment sales grew by 29.6% compared to H1 2022 to 193 billion yen ($1.4 billion). The major part of these sales was represented by "network content" which generated 94 billion yen ($672 million), a growth of 52% year-on-year. Sales of home video games increased by 52% compared to the first half of 2021 and reached 85.1 billion yen ($609 million).
Based on the impressive results, which were apparently driven by strong sales of Elden Ring, Bandai Namco adjusted its expectations for the rest of the financial year. Now, the company anticipates FY2023 net sales of 940 billion yen ($6.7 billion) which would be a 5.7% increase over FY2022. Previously, the company expected net sales to reach 880 billion yen ($6.3 billion) in FY2023.
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