Koei Founder Taking Over as Tecmo Koei CEO
Current CEO Kenji Matsubara to resign for personal reasons.
Tecmo Koei announced today a major staff change to go along with its quarterly earnings report.
Effective immediately, Yoichi Erikawa is taking over as President and CEO of Tecmo Koei Holdings. Current CEO Kenji Matsubara will remain as a director through November 30, when he will resign.
Erikawa co-founded Koei with his wife Keiko in July 1978. Gamers will be more familiar with his pen name of Kou Shibusawa. Under that name, Erikawa has produced many of Koei's top historical simulation franchises, including Sangokushi and Nobunaga no Yabou.
In addition to his new role as President and CEO of Tecmo Koei Holdings, Erikawa has taken over as President and CEO of Tecmo Koei Games, a position also previously held by Matsubara.
In a statement, Tecmo Koei explained that Matsubara announced his resignation during a board meeting earlier today, citing personal reasons.
Tecmo Koei Holdings' earnings report today showed sales of 11,069 million yen for the six months ended September 30, a drop of 27.5% from the same period last year. The company's operating loss increased from last year's 349 million yen to 1,097 million yen.
In the video game division alone, the company lost 1,623 million yen, sucking up the profits earned in areas like pachinko, amusement facilities and media rights (books, CDs, DVDs, goods). The company blamed the losses on a delay in the release of Trinity Zill O'll Zero and on investments required for titles set to be released in the third quarter and beyond.