{"id":9580,"date":"2021-10-12T22:29:52","date_gmt":"2021-10-12T13:29:52","guid":{"rendered":"https:\/\/www.capcom.co.jp\/ir\/?page_id=9580"},"modified":"2024-04-15T17:11:00","modified_gmt":"2024-04-15T08:11:00","slug":"extd02","status":"publish","type":"page","link":"https:\/\/www.capcom.co.jp\/ir\/english\/data\/oar\/2019\/extd02.html","title":{"rendered":"The fitness of Capcom&#8217;s growth strategies as seen by External Director Yutaka Mizukoshi"},"content":{"rendered":"\n<div class=\"oarBnWrapper\">\n\t<div class=\"oarBnBody\">\n\n\t<div class=\"fixedHeader\">\n\t\t<section class=\"fixedTop\">\n\t\t<div class=\"container\">\n\t\t\t<h1><a href=\"\/ir\/english\/data\/oar\/2019.html\"><img decoding=\"async\" src=\"\/ir\/english\/assets\/images\/data\/oar\/2019\/img_title01.png\" alt=\"Integrated Report 2019\"><\/a><\/h1>\n\t\t\t<div class=\"ticker\">\n\t\t\t<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/img_title01-1.png\" alt=\"Captivating a Connected World\">\n\t\t\t<\/div><!--\/\/ticker-->\n\t\t<\/div><!--\/\/container-->\n\t\t<\/section>\t<!--\/\/section-->\n\n\t\t<section class=\"globalnav\">\n\n\t\t<ul>\n\t\t<li><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_03.pdf\" target=\"_blank\" rel=\"noopener\">Value Creation<br>Story(PDF)<\/a><\/li>\n\n\t\t<li><span class=\"openPopup\">CEO<br>Commitment<\/span>\n\t\t<div class=\"navPopup\">\n\t\t<div class=\"container\">\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul>\n\t\t\t<li class=\"txtB txt18\"><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html\">CEO Commitment (Toppage)<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/nav>\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec01\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->1. Corporate philosophy and culture<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec02\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->2. Business model<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec03\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->3. Key performance indicators (KPI)<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\t\t<\/nav>\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec04\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->4. Management strategy <\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec05\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->5. Relationship with Society (S) <\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\t\t   <div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/ceo.html#sec06\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->6. Governance (G) <\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->   \n\t\t<\/nav>\n\n\t\t<\/div><!--\/\/container-->\n\t\t<\/div><!--\/\/navPopup-->\n\t\t<\/li>\n\n\t\t<li><span class=\"openPopup\">Growth <br>Strategies<\/span>\n\t\t<div class=\"navPopup\">\n\t\t<div class=\"container\">\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul>\n\t\t\t<li class=\"txtB txt18\"><a href=\"\/ir\/english\/data\/oar\/2019\/coo.html\">The COO\u2019s Discussion of Growth Strategies (Toppage)<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/nav>\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/coo.html#strategy01\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Growth Strategy 1: Consumer<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/coo.html#strategy02\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Growth Strategy 2: Mobile<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/hit_re2.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Case Study: Analysis of a Top Hit<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/coo.html#strategy03\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Growth Strategy 3: Esports<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\t\t<\/nav>\n\t\t<\/div><!--\/\/container-->\n\t\t<\/div><!--\/\/navPopup-->\n\t\t<\/li>\n\n\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/cfo.html\">Financial Strategy<\/a><\/li>\n\t\t<li><span class=\"openPopup\">Latest <br>Creative Report<\/span>\n\t\t<div class=\"navPopup\">\n\t\t<div class=\"container\">\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul>\n\t\t\t<li class=\"ntitle\"><a href=\"javascript:void(0)\">Latest Creative Report<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/nav>\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li style=\"width:250px;\"><a href=\"\/ir\/english\/data\/oar\/2019\/devtop.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->The Head of Development Discusses Strategy<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li style=\"width:350px;\"><a href=\"\/ir\/english\/data\/oar\/2019\/mhwi.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br--><em>Monster Hunter World: Iceborne<\/em><\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/esports.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->Esports<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\t\t<\/nav>\n\t\t<\/div><!--\/\/container-->\n\t\t<\/div><!--\/\/navPopup-->\n\t\t<\/li>\n\n\t\t<li><span class=\"openPopup\">Message from an External Director<\/span>\n\t\t<div class=\"navPopup\">\n\t\t<div class=\"container\">\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul>\n\t\t\t<li class=\"ntitle\"><a href=\"javascript:void(0)\">Message from an External Director<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/nav>\n\n\t\t<nav>\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/extd01.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->The management philosophy and corporate governance of Capcom&#8217;s leaders<br>as seen by External Director Toru Muranaka<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\n\n\t\t\t<div class=\"unit\">\n\t\t\t<ul> \n\t\t\t<li><a href=\"\/ir\/english\/data\/oar\/2019\/extd02.html\"><!--img src=\"\/ir\/data\/oar\/2017\/img\/Menu\/know_05.jpg\"><br-->The fitness of Capcom&#8217;s growth strategies<br>as seen by External Director Yutaka Mizukoshi<\/a><\/li>\n\t\t\t<\/ul>\n\t\t\t<\/div><!--\/\/unit-->\n\t\t<\/nav>\n\t\t<\/div><!--\/\/container-->\n\t\t<\/div><!--\/\/navPopup-->\n\t\t<\/li>\n\n\t\t<\/ul>\t\n\n\t\t<\/section>\t<!--\/\/section-->\n\t<\/div><!--\/\/fixedHeader-->\n\t<div id=\"hideGnav\"><\/div>\n\n<main id=\"rs_read\" class=\"extd oarMain\">\n<div class=\"message_past\">\r\n\t<p class=\"ms\"><a href=\"\/ir\/english\/data\/oar\/2025.html\">Latest version is available on the \"Online Integrated Report 2025\" top page.<\/a><\/p>\r\n<\/div>\n\n<div class=\"fullbox extitle\">\n<div class=\"container\">\n<h2>Message from an External Director<\/h2>\n<\/div><!--\/\/container-->\n<\/div><!--\/\/fullbox extitle-->\n\n\n\n<div class=\"extd02_header\">\n<div class=\"visual\">\n<div class=\"textbox00\">\n<h3>The fitness of Capcom&#8217;s growth strategies<br><span class=\"cap01\">as seen by External Director Yutaka Mizukoshi<\/span><\/h3>\n<p class=\"mT10 p\">Since being appointed external director at the June 2018 Shareholders&#8217; Meeting, I have closely observed the structure of Capcom&#8217;s marketing strategies from my perspective as a management consultant.<\/p>\n<p class=\"mT10 p\">Going forward, I will offer my advice and input on formulating and rolling out future strategies as Capcom pursues the business of creating markets around the globe.<\/p>\n<\/div><!--\/\/visual-->\n<\/div><!--\/\/textbox00-->\n<\/div><!---\/\/extd01_header-->\n\n\n\n\n<div class=\"fullbox\" style=\"margin-top:-50px;\">\n<div class=\"container\">\n\n<div class=\"questionbox\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_q.png\" alt=\"Q\"> \n<p class=\"q01\">One year has passed since your appointment as external director. How do you feel looking back at the year?<\/p>\n<\/div>\n\n<div class=\"abox s01\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_a.png\" alt=\"A\" class=\"icoA\">\n<p class=\"p\">I get the impression that the environment surrounding Capcom is changing drastically. Even compared to a year ago, the digital strategies on which Capcom focused and promoted have yielded clear results. Furthermore, I have a visceral sense of the possibilities for new business development as the rapid global momentum of esports also spreads into Japan.<\/p>\n\n<p class=\"p mT10\">In this environment, I think that my role is to help Capcom continue its growth into the future by using my experience and knowledge as a management consultant while&mdash;from an independent, outside perspective as an external director&mdash;actively providing suggestions and advice to help structure and organize the Company&#8217;s management. In particular, I would like to strengthen supervision of the Board of Directors by lending my efforts to building management-based marketing strategies.<\/p>\n\n<\/div><!--\/\/abox s01-->\n<\/div><!--\/\/container-->\n\n\n\n\n<div class=\"container mT45\">\n<div class=\"questionbox\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_q.png\" alt=\"Q\"> \n<p class=\"q01\">How do you feel about the current video game industry compared to the 1990s, when Capcom made its full-fledged entry into developing software for home video games?<\/p>\n<\/div>\n\n<div class=\"abox s02\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_a.png\" alt=\"A\" class=\"icoA\">\n<p class=\"p\">It feels like just yesterday that a game could be built by a small team of developers over the course of a few months, and that physical cartridges were the only way games were sold. Through the advance of game consoles and PCs, plus the emergence of smartphones and the dramatic evolution of the communications environment, the platforms and sales regions of the video game market have rapidly expanded. Likewise, there has been a major transition in the industry&#8217;s business environment, as the method of providing the product is changing from physical packages to digital distribution. Responding to this evolution, and given the longer duration and increasing complexity of developing blockbuster games, I think the industry has become a highly developed area, second to that of the automobile industry.<\/p>\n\n<p class=\"mT10 p\">In this type of business environment, our approach to core marketing practices is of the highest importance for management. We must work out plans for the story of our long-term corporate growth and profit maximization. In my opinion, we must strive for one approach unifying marketing, development, and sales.<\/p>\n<\/div><!--\/\/abox s02-->\n<\/div><!--\/\/container-->\n\n\n\n\n<div class=\"container mT45\">\n<div class=\"questionbox\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_q.png\" alt=\"Q\"> \n<p class=\"q01\">From your experience as a management consultant, what elements do you think are necessary for improving corporate value?<\/p>\n<\/div>\n\n<div class=\"abox s03\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_a.png\" alt=\"A\" class=\"icoA\">\n<p class=\"p\">Management consultant professionals must offer concrete suggestions for transforming the companies we advise. At the same time, we have to provide proposals that the company can execute with its own resources.<\/p>\n\n<p class=\"mT10 p\">In growth strategies, I think that, ultimately, the key elements for video game companies are how human resources are leveraged and how their development structures and environments are organized.<\/p>\n\n<p class=\"mT10 p\">In that sense, I think that Capcom&#8217;s key assets are being equipped with world-class development facilities, an environment with an array of high-tech equipment, and a successful track record of making quality games that have won the support of customers. I have seen a continuous stream of young developers who joined Capcom because they sought this sort of environment. Additionally, in terms of management, I would like us to maintain our commitment to creating new value alongside young talent while further creating a comfortable working environment for developers through initiatives such as the on-site childcare facility we have built.<\/p>\n<p class=\"txtC mT25\"><img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/img_extd05.png\"><\/p>\n<\/div><!--\/\/abox s03-->\n<\/div><!--\/\/container-->\n\n\n\n\n\n\n\n\n\n\n\n<div class=\"container mT45\">\n<div class=\"questionbox\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_q.png\" alt=\"Q\"> \n<p class=\"q01\">What are the necessary elements for Capcom to grow its global business and what are your goals going forward as an external director?<\/p>\n<\/div>\n\n<div class=\"abox s03\">\n<img decoding=\"async\" src=\"\/ir\/assets\/images\/data\/oar\/2019\/management\/ico_extd_a.png\" alt=\"A\" class=\"icoA\">\n<p class=\"p\">Although video games are now widely recognized as a major industry, this is a somewhat new development.<\/p>\n\n<p class=\"mT10 p\">As 5G, for example, emerges in the future, one of the features grabbing my attention is the elimination of latency in data transmission. This is expected to spur its adoption in various areas, including remote surgery in the medical field. In video games, too, I think there will likely be a revolution in content, through activities such as multiplayer matches over the Internet.<\/p>\n\n<p class=\"mT10 p\">Also, Capcom is carrying out other new initiatives, like esports, which could bring dramatic market transformations. My goal is to see Capcom, who owns globally competitive content, become a leading company in the video game industry.<\/p>\n\n<p class=\"mT10 p\">To that end, as an external director, I would like to provide advice and input from various perspectives addressing Capcom&#8217;s framework for advancing its strategies. At the same time, I feel called upon to fulfill the role of managing risk while avoiding opportunity cost, as we strive to improve corporate value.<\/p>\n\n<p class=\"mT10 p\">Going forward, it is my goal to create a framework that yields new business chances for Capcom, while, as an external director, providing encouragement for management strategies aimed at further global growth.<\/p>\n<\/div><!--\/\/abox s03-->\n<\/div><!--\/\/container-->\n\n\n<\/div><!--\/\/fullbox-->\n\n\n<\/main>\n\n                    \n<div class=\"contList\">\n\t<div class=\"contents\">\n\t<h3>CAPCOM INTEGRATED REPORT 2019<\/h3>\n\n\t<h4 class=\"mT30 comppdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_01.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_01.pdf']);\" rel=\"noopener\"> PDF (Complete version) <span class=\"pdfmt\">\uff08PDF\uff1a11.4MB\/ 104 page\uff09<\/span><\/a><\/h4>\n\n\t<div class=\"sepbox\">\n\t<h4 class=\"mT15 separate\">PDF (By section)<\/h4>\n\n\t<div class=\"contBox mT15\">\n\t<div class=\"col heightLine-1\">\n\t<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_03.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_03.pdf']);\" rel=\"noopener\">Value Creation Story <br><span>(PDF: 2.43MB\/16 page)<\/span><\/a><\/h4>\n\t<ul class=\"mT10\">\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_01.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value01.pdf']);\" rel=\"noopener\">History of Value Creation<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_02.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value02.pdf']);\" rel=\"noopener\">Value Creation Model<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_03.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value03.pdf']);\" rel=\"noopener\">Major Intellectual Properties (IP)<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_04.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value04.pdf']);\" rel=\"noopener\">Effectively Leveraging IP<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_05.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value05.pdf']);\" rel=\"noopener\"> Financial Highlights<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_06.pdf\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value06.pdf']);\">ESG Highlights<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_07.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value07.pdf']);\" rel=\"noopener\"> Business Segments Highlights<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/value_08.pdf\" target=\"_blank\" onClick=\"_gaq.push(['_trackEvent', 'EN PDF', 'OAR', 'annual_2019_value08.pdf']);\" rel=\"noopener\">Medium- to Long-Term Vision<\/a><\/li>\n\t<\/ul>\n\t<\/div><!--\/\/col-->\n\n\t<div class=\"col heightLine-1\">\n\t<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_04.pdf\" target=\"_blank\" rel=\"noopener\">Medium- to Long-Term Growth Strategy <br><span>(PDF: 1.64MB\/ 20 page)<\/span><\/a><\/h4>\n\t<ul class=\"mT10\">\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/ceo.pdf\" target=\"_blank\" rel=\"noopener\">CEO Commitment<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/coo.pdf\" target=\"_blank\" rel=\"noopener\">The COO&#8217;s Discussion of Growth Strategies<\/a><\/li>\n\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/cfo.pdf\" target=\"_blank\" rel=\"noopener\">Financial Strategy According to the CFO<\/a><\/li>\n\t<\/ul>\n\t<\/div><!--\/\/col-->\n\n\n\t<div class=\"col heightLine-1\">\n\t<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_05.pdf\" target=\"_blank\" rel=\"noopener\">Latest Creative Report <br><span>(PDF: 3.19MB\/ 6 page)<\/span><\/a><\/h4>\n\t<ul class=\"mT10\">\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/devtop.pdf\" target=\"_blank\" rel=\"noopener\">The Head of Development Discusses Development Strategy<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/mhwi.pdf\" target=\"_blank\" rel=\"noopener\"><em>Monster Hunter World: Iceborne<\/em><\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/esports.pdf\" target=\"_blank\" rel=\"noopener\">Esports<\/a><\/li>\n\t<\/ul>\n\t<\/div><!--\/\/col-->\n\n\t<div class=\"col heightLine-2\">\n\t<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_06.pdf\" target=\"_blank\" rel=\"noopener\">Foundation for Sustainable Growth (ESG)<br><span>(PDF: 2.05MB\/22 page)<\/span><\/a><\/h4>\n\t<ul class=\"mT10\">\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/esg_01.pdf\" target=\"_blank\" rel=\"noopener\">Directors<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/esg_01.pdf\" target=\"_blank\" rel=\"noopener\">Society and Capcom<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/esg_02.pdf\" target=\"_blank\" rel=\"noopener\">Capcom and the Environment<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/governance.pdf\" target=\"_blank\" rel=\"noopener\">Corporate Governance<\/a>\n\t\t<ul>\n\t\t <li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/gov_01.pdf\" target=\"_blank\" rel=\"noopener\">Directors<\/a><\/li>\n\t\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/gov_02.pdf\" target=\"_blank\" rel=\"noopener\">Features of Capcom Corporate Governance<\/a><\/li>\n\t\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/gov_03.pdf\" target=\"_blank\" rel=\"noopener\">Corporate Governance Structure and Initiatives<\/a><\/li>\n\t\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/gov_04.pdf\" target=\"_blank\" rel=\"noopener\">Message from an External Director<\/a><\/li>\n\t\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/gov_05.pdf\">Risk Management<\/a><\/li>\n\t  <\/ul>\n\t<\/li>\n\n\t<\/ul>\n\t<\/div><!--\/\/col-->\n\n\t<div class=\"col heightLine-2\">\n\t<h4 class=\"mpdf\"><a href=\"\/ir\/english\/data\/pdf\/annual\/2019\/annual_2019_07.pdf\" target=\"_blank\" rel=\"noopener\">Financial Analysis and Corporate Data <br><span>(PDF: 676KB\/17 page)<\/span><\/a><\/h4>\n\t<ul class=\"mT10\">\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_01.pdf\" target=\"_blank\" rel=\"noopener\">An Analysis of the Market and Capcom<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_02.pdf\" target=\"_blank\" rel=\"noopener\">Market Analysis<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_03.pdf\" target=\"_blank\" rel=\"noopener\">11-Year Summary of Consolidated Financial Indicators<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_04.pdf\" target=\"_blank\" rel=\"noopener\">Financial Review<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_05.pdf\" target=\"_blank\" rel=\"noopener\">Segment Information<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_06.pdf\" target=\"_blank\" rel=\"noopener\">Stock Data<\/a><\/li>\n\t<li><a href=\"\/ir\/english\/assets\/pdf\/oar\/2019\/finance_07.pdf\" target=\"_blank\" rel=\"noopener\">Corporate Data<\/a><\/li>\n\t<\/ul>\n\t<\/div><!--\/\/col-->\n\t<\/div><!--\/\/sepbox-->\n\n\n\t<\/div><!--\/\/contBox-->\n\t<\/div><!--\/\/contents-->\n<\/div><!--\/\/contList-->\n\n    <div class=\"f_bknumber\">\r\n        <div class=\"box clearfix\">\r\n            <p>Online Integrated Report Archives<\/p>\r\n            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