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SNK Announces It Is Profitable Again After Pivoting Back To Video Games
It's been a rocky few years for SNK, but it was very happy to point out today that it is finally profitable again.
SNK shared its official financial statements in Gazette Magazine today, showing off that the company is doing quite well for itself now despite being in the negatives last year. The difference is significant as well – in FY 2016, the developer posted a loss of 558 million yen, while FY 2017 brought it to a 3.105 billion yen net profit. In other words, it reversed its fortunes.
The company had been struggling slightly after its acquisition by Chinese company 37Games. CEO Koichi Toyama decided that the developer would turn its back on the semi-lucrative pachinko business and focus on video games again, rebranding as SNK instead of SNK Playmore. The first initiative of this newfound passion for games was King of Fighters XIV, which has apparently done quite well for SNK.
Our Take
It is heartening to see developers focus on a games-first mentality and find a lot of success from it. Here is hoping whatever it has next (Metal Slug, please), it will be just as successful for them.
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