Konami books impairment charge after auditor discussion

by Kevin Reed

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30 May 2014

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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.

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