ONE OF THE WORLD's biggest games and technology companies, Konami, has taken a multi-million yen impairment charge, after discussions with its auditor KPMG.
Konami issued results for the year ended 31 March 2014 on 8 May, but after discussions with its auditors, the games company has re-examined the long-term future prospects of its health and fitness segment, revising the valuation of intangible assets. This has led to an additional ¥530m (£3.1m) impairment charge, with a further ¥2,031m impairment charge for goodwill.
The impairments do not impact Konami's earnings forecasts. Konmai had posted net revenues of ¥218bn for the year, with operating income down 53% on the previous year at ¥10.2bn.
The NYSE-listed business is subject to audit by KPMG in the US, and by KPMG AZSA in Japan. It is best-known in the west for its computer video games, including Frogger, Castlevania and Pro Evolution Soccer.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
Our panel of experts explore the major pension pain points and discuss what actions finance professionals should be taking in order to alleviate them
This Financial Director web seminar with Anaplan, the planning cloud for sales, finance, operations, and HR discusses how businesses can use enterprise data
Send to a friend