Koei Tecmo’s latest earnings report paints a picture of a publisher in transition—steady, globally diversified, and powered by some of the longest‑running franchises in gaming history. The numbers show resilience despite a softer release slate, and the company’s legacy IP continues to carry enormous cultural and commercial weight.

💴 Financial Snapshot (with USD equivalents)

Koei Tecmo reports its FY25 year‑to‑date (YTD) performance at ¥51.7 billion in revenue and ¥16.5 billion in operating profit. Using a reasonable exchange assumption of ¥150 = $1 USD, this translates to:

The company’s operating margin sits around 28%, a strong figure for a mid‑sized Japanese publisher, especially in a year without a tentpole global hit.

What’s driving the numbers?

• Console/PC sales remain the backbone, though slightly softer than FY24.
• Digital ratios continue to climb, often exceeding 70%, which boosts margins.
• Overseas sales remain dominant, hovering around 68–75% depending on the quarter.

This is a company that has quietly mastered the art of global niche dominance.

🎮 The Legacy Behind the Numbers

Koei Tecmo’s financial stability is inseparable from its deep catalogue of franchises—some older than many of today’s players. Instead of listing them mechanically, let’s explore the stories behind the brands that shaped the company’s identity.

⚔️ The Strategy Epics: Nobunaga’s Ambition & Romance of the Three Kingdoms

These two series are the DNA of Koei Tecmo.

• Nobunaga’s Ambition (over 11 million lifetime units) is more than a game—it’s a cultural institution in Japan. It blends historical simulation with political drama, and its longevity gives Koei Tecmo a stable, evergreen revenue stream.
• Romance of the Three Kingdoms (over 9.5 million units) remains a powerhouse across Asia, especially China and Taiwan, where the Three Kingdoms era is deeply embedded in popular culture.

These franchises don’t rely on explosive launches; they thrive on loyal, multi‑generational audiences.

⚡ The Warriors Phenomenon: Dynasty Warriors & Samurai Warriors

The Musou formula—one hero versus a thousand enemies—became a global cult sensation in the early 2000s.

• Dynasty Warriors has surpassed 24 million units, making it Koei Tecmo’s most commercially successful brand.
• Its Japanese counterpart, Samurai Warriors, adds another 8.5 million.

Even when the mainline entries slow down, collaborations (Zelda, One Piece, Fire Emblem) keep the engine running and the brand relevant.

🐉 Team Ninja’s Rise: Ninja Gaiden, Nioh, Wo Long

Team Ninja has become Koei Tecmo’s prestige label.

• Ninja Gaiden remains iconic, with over 7.5 million units sold.
• Nioh and Nioh 2 together exceed 8 million, proving Team Ninja can compete in the “Soulslike” arena.
• Wo Long: Fallen Dynasty surpassed 5 million users, showing the studio’s global reach.

These titles give Koei Tecmo credibility in the hardcore action space—something few Japanese publishers outside FromSoftware can claim.

🧪 The Alchemy of Atelier

The Atelier series—especially the Ryza trilogy—has quietly become a modern success story.

• The franchise exceeds 8 million units, with Ryza alone accounting for over 2 million.

Its blend of cozy fantasy, crafting, and character‑driven storytelling taps into a growing global appetite for “comfort games.”

🌏 A Publisher Built for Global Longevity

Koei Tecmo’s earnings show a company that doesn’t chase trends—it cultivates ecosystems.

• Long‑running franchises with loyal audiences
• High digital adoption
• Strong overseas presence
• Efficient development pipelines
• Strategic collaborations (Nintendo, Bandai Namco, Game Freak)

Even in a quieter release year, the company posts healthy profits and maintains a robust forecast of ¥92 billion in full‑year revenue (~$613M).

🧭 What This Means for 2026 and Beyond

With upcoming releases like Nioh 3, Dynasty Warriors: Origins, and multiple Switch 2 titles, Koei Tecmo is positioning itself for a stronger FY26. The company’s strategy is clear:

• Lean on evergreen franchises
• Expand globally
• Maintain high margins through digital sales
• Strengthen Team Ninja as a prestige brand

Koei Tecmo may not dominate headlines like Capcom or Square Enix, but its consistency—and its deep cultural roots—make it one of the most quietly successful publishers in Japan.