THE SHORT VERSION
- Konami Digital Entertainment recorded sales of 243.5 billion yen, up 44.3% year on year, and operating profit of 107.5 billion yen, up 75.1%, for April to September 2026.科乐美数字娱乐在 2026 年 4 月至 9 月录得销售额 2435 亿日元,同比增长 44.3%;营业利润 1075 亿日元,同比增长 75.1%。
- Metal Gear Solid: Master Collection Vol. 2, Silent Hill: Townfall, eBaseball: Pro Spirit 2026 and Suikoden Star Leap launched in the period, while eFootball received a major August update.期内发售的作品包括《合金装备:大师合集 Vol. 2》《寂静岭:Townfall》《eBaseball: Pro Spirit 2026》与《幻想水浒传 Star Leap》,《eFootball》则在 8 月获得大型更新。
- Konami Group revised its forecast for the year ending March 2027 and now expects operating profit to rise 39.3% and sales 18.1%, with no title-level breakdown published.科乐美集团修订了截至 2027 年 3 月的全年预期,现预计营业利润增长 39.3%、销售额增长 18.1%,且没有公布各作品层面的明细。
The numbers Konami put on the page科乐美写在报表上的数字
Konami Group reported consolidated results for the six months from April to September 2026 on October 29, and the video game division did most of the lifting. Konami Digital Entertainment, the group's core games business, recorded sales of 243.5 billion yen, up 44.3% year on year, and operating profit of 107.5 billion yen, up 75.1%. AUTOMATON converts those figures to roughly $1.5 billion and $681 million.科乐美集团于 10 月 29 日公布 2026 年 4 月至 9 月这六个月的合并业绩,主要贡献来自电子游戏部门。集团核心游戏业务科乐美数字娱乐录得销售额 2435 亿日元,同比增长 44.3%;营业利润 1075 亿日元,同比增长 75.1%。AUTOMATON把这两个数字换算为约 15 亿美元与 6.81 亿美元。
At group level the picture was broader and, by the company's account, record-setting. Revenue rose 37% year on year, while business profit, operating profit and net profit climbed 72.2%, 73.3% and 70.5% respectively. AUTOMATON reports that Konami described the interim period as setting highs across all profit metrics. The games division's 75.1% gain slightly outpaced the group's own operating profit growth of 73.3%, which is a useful pointer to where the improvement came from.集团层面的图景更宽,且按公司的说法创下纪录。营收同比增长 37%,事业利润、营业利润与净利润分别增长 72.2%、73.3% 与 70.5%。AUTOMATON 报道称,科乐美把这一中期阶段描述为所有利润指标均创下新高。游戏部门的 75.1% 略高于集团自身 73.3% 的营业利润增速,这也提示了改善来自哪里。
Four releases and one live service四款新作与一款长线服务
Four launches did the scheduled work. Metal Gear Solid: Master Collection Vol. 2, Silent Hill: Townfall, eBaseball: Pro Spirit 2026 and Suikoden Star Leap all shipped in the period, according to AUTOMATON, with Push Square naming the first three. That is a preservation collection, a new horror entry, a baseball simulation and a role-playing game, a spread that covers several audiences instead of betting the half-year on one blockbuster.四款作品的发售完成了排期上的工作。据 AUTOMATON,期内上市的有《合金装备:大师合集 Vol. 2》《寂静岭:Townfall》《eBaseball: Pro Spirit 2026》与《幻想水浒传 Star Leap》,Push Square则提到前三款。这是一份包含保存合集、恐怖新作、棒球模拟与角色扮演的名单,覆盖了多种受众,而不是把半年押在一款大作上。
The live service side contributed without a new boxed release. eFootball received a major update in August, and AUTOMATON attributes its continued performance to that update along with special campaigns and in-game events. Push Square makes the point more bluntly: the publisher released games, and the financial numbers followed. For a company long associated with pachinko machines and sports clubs rather than software, a half-year carried by game releases is the story these results tell. A spread of genres also means the division was not leaning on a single release, although the results do not say how much each title contributed.长线服务一侧没有新盒装产品,同样有贡献。《eFootball》在 8 月获得大型更新,AUTOMATON 把它的持续表现归因于这次更新,以及特别活动与游戏内赛事。Push Square 的说法更直接:发行方推出了游戏,财务数字随之而来。对一家长期被与柏青哥机和体育俱乐部联系在一起的公司来说,由游戏发售撑起的半年,正是这组业绩在讲述的故事。类型分散也意味着该部门并非依赖单一作品,不过业绩没有说明每款作品各自贡献了多少。
Why profit grew faster than sales利润为何比销售额涨得更快
The gap between 44.3% sales growth and 75.1% profit growth is the most interesting figure in the release. When profit rises faster than revenue, the business is keeping more of each yen it takes in, which usually points to a richer mix of full-price releases, a lighter discounting cycle, or digital and live-service revenue arriving without matching costs. Konami did not publish enough detail to confirm which of those did the work. Investors tend to watch that gap more closely than the headline profit figure, because it shows whether growth is coming from volume or from retained margin.44.3% 的销售增长与 75.1% 的利润增长之间的差距,是这份财报里最值得注意的数字。当利润增速高于营收增速,说明企业从每一日元收入中留下了更多,通常指向更高比例的全价新作、更轻的折扣周期,或无需等额成本即可到账的数字与长线服务收入。科乐美没有公布足够细的拆分来确认是哪一项起了作用。投资者往往比关注头条利润数字更关注这个差距,因为它显示增长来自规模,还是来自留存的利润率。
A rough calculation from the disclosed numbers puts the division's operating margin at about 44%, against roughly 36% a year earlier. That is arithmetic on the reported figures rather than a company statement, and it assumes the year-on-year comparison is like for like. The direction is still notable on its own: operating profit per yen of sales rose sharply in the period, and that is the base the revised forecast below is built on.用已披露数字做粗略推算,该部门的营业利润率约为 44%,一年前约为 36%。这是对报表数字的算术推算,不是公司表述,并且假定同比口径一致。方向本身仍然值得注意:期内每一日元销售额带来的营业利润明显上升,而下方修订后的全年预期正是建立在这个基础上。
What changed in the full-year forecast全年预期改了什么
Konami revised its forecast for the fiscal year ending March 2027. The company now expects operating profit to rise 39.3% and sales to grow 18.1%, AUTOMATON reports, noting that the revision reflects strong performance across the group, including the arcade, gaming equipment and sports businesses as well as games. The forecast therefore covers more than the division that produced the headline number.科乐美修订了截至 2027 年 3 月的财年预期。据 AUTOMATON,公司现预计营业利润增长 39.3%、销售额增长 18.1%,并指出这次修订反映了集团整体的强劲表现,包括街机、游戏设备与体育业务,而不只是游戏。因此这份预期覆盖的范围,比贡献了头条数字的那个部门更广。
It is also worth reading as a statement about the second half. A full-year operating profit increase of 39.3% is smaller than the 73.3% the group has just posted for six months, which implies that Konami expects the pace to slow between October and March, or is conservatively assuming it will. Neither outlet reports the assumptions behind the figure, and the company has not published a title-by-title forecast.它也值得当作对下半年的判断来读。全年营业利润增长 39.3%,低于集团刚公布的半年 73.3%,这意味着科乐美预期 10 月至 3 月的节奏会放缓,或者是在保守地假设它会放缓。两篇报道都没有给出这个数字背后的假设,公司也没有公布按作品划分的预期。
What the results do not show这组业绩没有展示的部分
The omissions matter as much as the totals. There is no revenue by title, no unit sales, no split between physical and digital, and no breakdown of development or marketing costs. The dollar figures in coverage are conversions rather than company guidance, and they move with the exchange rate. A reader cannot tell from these numbers how much of the profit came from Metal Gear, how much from Silent Hill, or how much from eFootball's live operations.缺项与总数同样重要。财报没有按作品划分的收入,没有销量,没有实体与数字的拆分,也没有开发或营销成本的明细。报道中的美元数字是换算值而非公司指引,会随汇率变动。读者无法从这些数字判断利润里有多少来自《合金装备》、多少来自《寂静岭》、多少来自《eFootball》的长线运营。
The period is also a half-year, not a quarter. AUTOMATON describes the results as the second quarter of the fiscal year covering April to September, and some coverage refers to the previous quarter loosely. That distinction matters when comparing against quarterly reports from other publishers, because a six-month total will look larger on every line. The group percentages and the games division percentages also measure different scopes.这段时间是半年,而不是一个季度。AUTOMATON 把业绩描述为财年第二季度、覆盖 4 月至 9 月,而部分报道会笼统地说成上一季度。这个区别在与其他发行方的季度报告比较时很重要,因为六个月的合计在每一行上都会显得更大。集团百分比与游戏部门百分比衡量的也是不同范围。
What to watch next接下来该看什么
The next checkpoint is the full-year results through March 2027, where the forecast gets tested. Between now and then, the question is whether the releases that carried the first half keep selling and whether eFootball's update cycle holds attention. Neither report describes a second-half slate, so the release calendar is the variable readers will have to track elsewhere.下一个节点是截至 2027 年 3 月的全年业绩,届时这份预期将接受检验。在那之前,问题是撑起上半年的作品能否继续销售,以及《eFootball》的更新周期能否维持关注度。两篇报道都没有描述下半年的产品排期,因此发售日历是读者需要另找渠道追踪的变量。
For the wider picture, the Phantom Blade Zero launch plan and the November PlayStation Plus lineup show how crowded the next few months are, while the Xbox Series supply constraint affects how many consoles those games can reach. Konami's results are a reminder that a publisher's numbers follow what it ships, not how loudly it announces it.放到更大的图景里,《Phantom Blade Zero》的发售安排与11 月 PlayStation Plus 阵容显示了接下来几个月有多拥挤,而Xbox Series 的供应限制会影响这些游戏能触达多少主机。科乐美的业绩提醒人们:发行方的数字取决于它发售了什么,而不是它宣布得有多响。
Sources & reporting limits来源与核查范围
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