Capcom confirms reduced profits for the year

Capcom has announced reduced profits for the financial year, mainly due to expensive company restructuring.

Last month the publisher confirmed plans to restructure the business, which meant that end-of-year fiscal figures weren't as healthy as anticipated.

This includes a change in the way Capcom outsources game development to overseas studios, which it said was the cause of a "decline in quality of titles".

Capcom posted revenues of 94.1billion yen ($951.7million USD) for the year ending 31 March 2013, up 14.6% from last year.

However profits were down 55.8%, coming in at 3billion yen ($30.1million USD).

The publisher hopes the current fiscal year will be much more successful, pointing to the likes of Monster Hunter 4 and Lost Planet 3 as reasons to be cheerful.

It predicts revenues of 97billion yen ($981.3million USD) and an operating income of 12billion yen ($121.4million USD) for the year ending 31 March 2014.