Financial Results for the First Half of the Fiscal Year Ending March 2020 KOEI TECMO HOLDINGS CO., LTD. October 25, 2019
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First Half Results
(Million Yen)
Vs Prev. Year: • Whilst Online/Mobile sales had increased, sales for Console had decreased. • Fixed costs had increased due to the expansion of our development capability, causing operating profit to decrease. • Gain on securities sold ended up less than previous year.  Extraordinary gain had been posted from the sale of a portion of our real estate for rent.
• Sales of some titles did not reach the plan. • Non-operating income had surpassed the plan, causing ordinary profit and current net earnings to surpass the plan as • No change is made to the full-year plan.
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April May June July August September Jul 4 Attack on Titan 2: Final Battle *Launch dates in Japan Jul 19 MARVEL ULTIMATE ALLIANCE 3: The Black Order Jul 26  Fire Emblem: Three Houses Sept 26 Atelier Ryza Continuous sale of Nioh PlayStation(R)4/Nintendo Switch™M /Windows(R)(Steam(R)) Attack on Titan 2: Final Battle 220K Copies Worldwide Nintendo Switch™M MARVEL ULTIMATE ALLIANCE 3: The Black Order Now on Sale Developer Nintendo SwitchTM Fire Emblem: Three Houses Now on Sale PlayStation(R)4/Nintendo Switch™™ Atelier Ryza: Ever Darkness & the Secret Hideout PlayStation(R)4//Windows(R)(Steam(R)) Nioh: Complete Edition 190K Copies in FY2019 More than 2,750K Copies 160K Copies in Japan & Asia Worldwide! 3 © KOEI TECMO GAMES CO., LTD.  All rights reserved. ©諫山創・講談社／「進撃の巨人」製作委員会© 2018-2019コーエーテクモゲー (講談社『別冊少年マガジン』連載） VEL (C)Nintendo Developed By KOEI TECMO GAMES tendo / INTELLIGENT SYSTEMS Co-developed by KOEI TECMO GAMES CO., LTD.
April May June July August September Uncharted Waters VI New Romance of the Three Kingdoms DISSIDIA FINAL FANTASY OPERA OMNIA DEAD OR ALIVE Xtreme Venus Vacation三国志・战略版』 (Romance of the Three Kingdoms Senryaku-ban(*)) Uncharted Waters VI Now Available国志・战略版. (Romance of the Three Kingdoms iOS/Android New Romance of the Three Kingdoms Now Available [[DISSIDIA FINAL FANTASY OPERA OMNIA]] Windows(R)（DMM GAME PLAYER） 『DEAD OR ALIVE Xtreme Venues Vacation』 Now Available 『3 Majesty  ×  X.I.P. LIVE -AUTUMN CARNIVAL-』 Events: 20K participants 2019 Ejoy.All Rights Reserved. © Alibaba Culture Media Co., Ltd. © Shanghai TCI N . © HK HERO ENTERTAINMENT CO., LIMITED. ALL RIGHTS RESERVED. TECMO GAMES CO., LTD. ALL RIGHTS RESERVED. ©Shanghai TCI Entertainment Technology Corp. All Rights Reserved. ©2017-2019 KOEI TECMO GAMES/SQUARE ENIX CO., LTD. All Rights Reserved.  CHARACTER DESIGN: TETSUYA NOMURA © Konami Digital Entertainment ©コーエーテクモゲームス(*)English title is tentative © KOEI TECMO GAMES CO., LTD.  All rights reserved. 4

Entertainment
l In comparison with the previous year, whilst Online/Mobile sales had increased, sales for Console had decreased. l Expecting revenues from bigger titles scheduled to launch in the second half.
Amusement
l l SP had experienced some decrease in comparison with the previous year in accordance with the plan. AM facility operation business had experienced increase in the sales for the existing facilities by 8.7%.
Real Estates
l Had experienced some decrease in comparison with the previous year due to the sale of a portion of our real estate for rent in accordance with the plan 5
● Sales by Region l Ratio of Overseas sales: 35.1%
●
Units Sold by Region
| – The number of copies sold for Consoles Ratio of Units Sold in Overseas Market: 78.3%
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DL Ratio
l Ratio of digital copies sold: 33.1%
(*1) Including sales for packages, royalty, commission fees (incl. %-of-completion basis), and down payment (*2) DL (download) sales: sales for digital copies via PSN/XboxLive/Switch DL/Steam (*3) DLC (Download contents): Sales for additional items and scenario via download (*4) Sales for MMORPG and some other titles( Uncharted Waters V , Nobunaga's Ambition 201X ) (*5) Including sales for smartphone games, social games, browser games, and royalty from IP licensing-out 7
©コーエーテクモゲームスAll rights reserved. Consolidated Plan for the Fiscal Year Ending March 31, 2020 (FY2019)
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• No change is made to the full-year plan. • As the second year in the current mid-term plan, this year (FY2019) takes its position as the preparation year for FY2020. •  Aiming to achieve the same level of operating profit as the previous year by making up for the increased fixed costs due to upfront investments and the expansion of our development structure through sales increase. • Keeping conservative plan for non-operating incomes due to the uncertainty in the market. • Aiming for 17 billion operation profit in the year 2020, the final year of our current mid-term plan.
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(*)The FY18 results for Amusement Segment is the sum of former SP and AM facility operation business segments
●
Entertainment
– Big titles for Console are scheduled to launch in the second half. | A new title for Mobile is scheduled to be released in the second half.
●
Amusement
| Both SP and AM facility operation business  are planned to experience increase in sales and profit.
Real Estate
l Decrease in comparison with the previous year due to the sale of a portion of our real estate for rent.
●
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Sales by Region | Planned Ratio of Overseas sales: 37.4％
Units Sold by Region
l l The number of copies sold for Consoles Planned Ratio of Units Sold in Overseas Market: 71.9% 12
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Investment
| Expecting Expenditure for the remaining balance for Minato-Mirai Office/Music Hall. ●
Depreciation Cost
l Expecting increase due to the completion of Minato-Mirai Office. Management Policy and Strategy KOEI TECMO HOLDINGS CO., LTD. Yoichi Erikawa President & CEO (Representative Director) 14
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Aim to achieve sales of 51 billion yens, operating profit of 17 billion yens, and ordinary profit of 21 billion yens in FY2020 through: – a Console title with sales of 5 million copies a Mobile title which generates monthly sales of 1 billion yens – Aim to grow at annual growth rate of 10% on average in 3 years.
1. Create and develop global IPs 2. Effectively expand global business Minato-mirai Office (scheduled to be completed in Jan. 2020)
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Create and develop global IPs

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Leading Powers for Development, Technology, and Project Management
Recent Examples

(*)A website which aggregates reviews for films, video games, TV shows, and music.
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Multi-tiered Revenue Structure
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Multi-tiered Revenue Structure
l l
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Creation of New IPs
– Success of Nioh – Creation of a title with sales of 5 million copies
Series
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– l – History-Simulation Games: Nobunaga's Ambition, Three Kingdoms Action Games: Dynasty Warriors, Nioh Group of series supported by longtime hard-core fans
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Collaboration
l l – Collaborate with other companies by combining their leading IPs and our development capacity Fire Emblem: Three Houses, Hyrule Warriors Successful collaboration with an overseas leading IP
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IP Licensing-out
l New Romance of the Three kingdoms, Three Kingdoms: Senryaku-ban Positive growth cycle: Creation of New IPs → Grow into Series → Collaboration Licensing-out of IPs as a new source of revenue 19 Future Business Deployment KOEI TECMO HOLDINGS CO., LTD. Executive Vice President (Representative Director) KOEI TECMO GAMES CO., LTD. President & CEO (Representative Director) Hisashi Koinuma
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iors Orochi 4 Ultil ●
Warriors Orochi 4 Ultimate
– Upgraded version of Warriors Orochi 4 launched and sold more than 700K copies last year ● Romance of the Three Kingdoms XIV – The latest addition to the series of our simulation game which reenacts the Romance of the Three Kingdoms as a compilation of human dramas Nioh 2 A sequel to Nioh the “Sengoku Masocore” game which sold more than 2,750K copies FAIRY TAIL – An anime title with original manga series being sold for more than 60 million copies worldwide, is now made into a video game. ●
©真島ヒロ・講談社／フェアリーティル製作委員会・テレビ東京©コーェーテクモゲームス

Persona 5 Scramble: the Phantom Si Feb 20 2020 on sale (in Jan Persona 5 Scramble: The Phantom ● Strikers – Atlus and Koei Tecmo Games are teaming up to bring the first action RPG game ever in the Persona series l Schedule to launch on Feb 20 2020! (in Japan) © ATLUS © SEGA / © KOEI TECMO GAMES   All rights reserved.
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Attack on Titan 2: Final Battle Stadia iOS/Android Sangokushi: Heroes(*) Scheduled to be released in Fall 2019 • Forming a capital & business alliance with HEROZ (known for Al development) to develop the title Sangokushi: Heroes(*) New Title STADIA Attack on Titan 2: Final Battle Scheduled to be released on Nov 19 2019 (in Europe/North America) ・One of the launch titles for Google™ Stadia in Europe/North America. New title ・Learn from our successful IP Licensing-out experiences so far iOS/Android (*)English titles are tentative ऐ作／原山前「浅草の巨人」（原訳社「万形少年マガソン」活動） ①原山前・清訳社／「浅草の巨人」訳作委員会①2018-2019コーエーテクモゲームス ③コーエーテクモゲームス/ HEROZ, Inc. All rights reserved.  ③ KOEI TECMO GAMES CO, LTD.  All rights reserv
(Million yen) 3,500 Sales Transition of Online/Mobile by Quarter • Sales for Online/Mobile for the first half of this year had remained steady on QoQ basis, though have increased comparing to last year. Royalty income from  New Romance of the Three Kingdoms has continued to be going strong. For the second half of this year we are expecting additional sales from Uncharted Waters VI (Our own IP), IP Licensing-out  Three Kingdoms: Senryaku-ban and a new title planned to be released.
● ● ● First of all: we record our costs on accrual basis No recording as WIP on BS – Increase in upfront investment – Upfront investment* has increased as our titles are getting bigger FY2019 takes its position as the preparation year for FY2020. l Upfront investments for a Console title with sales of 5 million copies and a Mobile title which generates monthly sales of 1 billion yens l Plan to launch/release in FY2020 and record profits ● Aim to grow at annual growth rate of 10% on average in 3 years. – l Control over product portfolio with good balance → allocation of titles in variety of size Realizing periodic profit and long-term growth *Development costs for those projects incurring costs in this year but scheduled to launch in next or later year.
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This document contains statements regarding future objectives, beliefs and current expectations of KOEI TECMO HOLDINGS CO., LTD. with respect to its financial results. Such statements imply risks and uncertainties and no guarantee of future performance. *The Other company name, product name, logo mark and service name in this document are trademarks of each company.