Recognizing that the last discussion on this took up too much time and energy and devolved into a name calling game- I decided to just go right to an expert and reached out to a Wall Street Analyst for Video Games that I am acquainted with. I asked him for his assessment. These are completely neutral experts who measure, monitor, analyze and recommend based on the 'whole' picture of the market that FL and I keep pushing people to view. Look at the facts objectively, remove your disdain and the term 'moral bankrupty' from this analysis- this is not about 'personal feelings' - this is about cold, hard business facts:
- Corporate governance (i.e. takeover defenses etc.) is a completely different topic vs. financial / business condition - All this vote did was simply remove one condition for a take-over; i.e. many more conditions would still remain - Take-overs are not easy and in this instance assuming another party made a bid it would still be: o Subject to a shareholder vote; shareholders who would likely be seeking a premium to current price and a well-capitalized buyer o Company has a $800mm enterprise value, meaning a bid would probably need to come in north of that as the company is NOT distressed financially in any mean
- Capcom is well capitalized with low leverage (vs many other publicly traded video game entities) and a net cash position i.e. more cash ($292mm) vs. debt ($78mm) - Company has also indicated it would do a large sharebuy back which could drive price higher i.e. make it more expensive - Currently heavily reliant on Monster Hunter titles, it has a stable Pachi-slot business and there is upside if they can deliver native apps (something many other browser games are struggling with) - They still have solid existing brand IP in Resident Evil, Street Fighter and Devil May Cry - It is a transition point for the company and they have enough capital and infrastructure to see through it if given a successful plan.
Overall Analysis: 7/10 (numerics refer to general business health, market share, brand recognition, asset flow, IP worth, market position, etc)
Again, I can't overstate this is coming from a neutral source whose very work is to spend hours each day is pouring, analyzing and receiving data to make assessments and recommendations for the video game industry. Though I know many of you don't like to acknowledge that Video Games are a business, they are. Whether or not they should or shouldn't be- that is the reality. The above aren't opinions subject to debate- these are the facts.
I post this not to try to 'win' any argument, but rather to help inform opinions- be armed with facts and figures and use those to support your opinions, not the other way around. --- PSN: TheWorstType for RE6 and TLOU Props to Hero-Dub for Reading my Novels