Capcom developing Next-gen games

  • Posted December 23rd, 2004 by Seb Hayes

Bloomberg Japan has revealed that Capcom will be developing games for all three of the upcoming next-generation platforms--namely, the consoles currently referred to as the PlayStation 3, the Xbox Next, and the Nintendo Revolution.

"We will be supplying games for the next-generation video game consoles that should be released around the end of 2005 by Microsoft, Sony, and Nintendo," said Capcom board executive Kazuhiro Abe.

Abe also disclosed how Capcom plans to use the money that will come from the 10 billion yen ($91 million) of comparative bonds the company just announced that it will be issuing. Another reason for the issue will be to refinance its current comparative bonds, which are worth 12.2 billion yen ($111 million). Those bonds will become redeemable next year on September.

The newly announced CB will not be redeemable until 2009, but Capcom's shares in the Tokyo Stock exchange dropped 3.1 percent, down to 1,025 yen ($9.32), because of concern that the issue will dilute the company's value. Capcom's share price has actually fallen four days in a row, affected by such factors as slow sales of its popular series titles and unanticipated company growth.

Bloomberg cites as an example the Resident Evil series, which is selling below expectations on the PlayStation 2. The media outlet goes on to say that games in the series used to be million-sellers, but that the latest title, Resident Evil Outbreak File #2, has sold only about 91,000 copies in Japan since its release earlier this month (according to figures by Media Create).

Capcom is currently in 10th place on the list of companies with the largest share-price drops on the Tokyo Stock Exchange.

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