Taito makes big post-pandemic recovery with over 60% increase in operating profit
According to the latest financial reports, Taito Corporation has seen significant growth in the past fiscal year. The Square Enix-owned subsidiary reported a yearly operating profit of 4.8 billion yen, which is a 60.9% year-over-year increase. (Source: GameBiz)
Taito, the developer of legendary arcade games such as Space Invaders, currently operates amusement and entertainment facilities, online claw machine games and other businesses in addition to game development. Taito’s amusement sector in particular witnessed growth over the past fiscal year, particularly in comparison to the stark losses they reported in 2021.
As Covid19-related restrictions loosened up, Japan saw a spike in inbound tourism and people coming out of lockdown. These factors, along with internal reorganization carried out by Taito during the pandemic, drove the company’s financial growth.
According to GameBiz, the scale of Taito’s businesses grew by 3.7 times compared to fiscal year 2019, the year before the Covid19 pandemic. In other words, they have not only recovered from the slump caused by the pandemic, but have also entered a new phase of growth.
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No wonder Square Enix has decided to keep subsidiaries like them while getting rid of money sinks like Crystal Dynamics and Eidos.
I am glad Taito has made a recovery from the pandemic they are very iconic and i really liked visiting Taito in Japan in 2019 for the Arcade experience.