Good morning. Thank you for joining us today for our annual meeting. My name is Hank Diamond, and I'm Senior Vice President of Investor Relations And Corporate Communications for Take 2. Please note that today's shareholder meeting is being broadcast via listen only webcast that is available on our website at www.take2games.com. A replay of the webcast will also be available on our website statements made during this meeting that are not historical facts are considered forward looking statements under federal securities law.
These forward looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to us. We have no obligation to update these forward looking statements. Actual operating results may vary significantly from these forward looking statements based on a variety of factors. Other important factors and information are contained in the company's annual report on Form 10 K for the fiscal year ended March 31, 2015, including any risks summarized in the section entitled Risk Factors. The company's quarterly report on Form 10 Q for the fiscal quarter ended June 30, 2015, and the company's other periodic filings with the SEC, which can be accessed at www.take 2games.com.
I'd now like to introduce Strauss Zelnick, Chairman and CEO of Take 2.
Thanks, Hank. Good morning and welcome. Thanks for being here at the annual meeting of stockholders of Take 2 Interactive Software. Procedures for today's meeting and the proposals to be voted on and a question and answer session. I'd like to introduce our officers who are here today, Carl Sliedoff, President of the company Lanny Goldstein, our Chief Financial Officer Dan Emerson, Executive Vice President, General Counsel and Linda Zabriskay, Vice President associate general counsel and secretary of the company.
I'd also like to introduce our board members who are here today, Jay Moses Michael Doorneman, Michael Sherewski and Susan Tulsen. I'll now turn the floor over to Dan Emerson.
Good morning. I will act as chair of this portion of the meeting. Ms. Zabrzycki will act as secretary of the meeting. Meeting will be conducted in accordance with the agenda that was distributed at the start of the proposal to be considered and voted upon at this annual meeting are as follows: the election of 6 directors to hold office until the next annual stockholder meeting and until their respective successors have been duly elected and qualified.
The approval on a non binding advisory of Ernst this may properly come before the annual shareholder meeting or any adjournment thereof. I will note that only stockholders of record at the close of business July 27, 2015, are entitled to vote on these proposals at the annual meeting or any adjournment thereof This meeting will be conducted in accordance with the procedural rules that have been established and distributed today to ensure that stockholders have an opportunity to properly consider and vote upon Anyone wishing to address the meeting must be a stockholder of record as of July 27, 2015 record date, or a person holding a valid proxy from stockholder of record. Stockholders of record should have a yellow coded name tag and a yellow index card stating so, which was provided at the registration area before the meeting. Following the presentation of the proposals on the agenda and while the polls are deemed open for voting on the proposals, will entertain questions directly related to the matter is being voted upon. The meeting will be adjourned, then we will open the floor to general questions.
By your presence at this meeting, you acknowledge your understanding of and willingness to abide by an procedural rules that were provided to you please present proof of notice of this meeting. I note proof of notice has been presented. Let the record reflect that I've been presented with a copy of the notice Annual Meeting of Stockholders dated July 28, 2015, and the proxy materials dated July 28, 2015 together with an affidavit of an authorized representative of Broadridge, the company responsible for mailing said materials affirming us to the mailing on August 5, 2015, of the notice of annual meeting and proxy materials to stockholders of record at the close of business on July 27, 2015. I order the affidavit of mailing be filed with the minutes of this meeting. Ms.
Abrisky, will you please present a list of stockholders as of the close of business on July 27, 2015, the record date fixed by the Board of Directors for the purpose of determining the stockholders entitled to vote at this meeting. Let the record reflect that I have been presented with a list of stockholders of record as of the close of business on July 27, 2015, furnished by an authorized representative of the company's transfer agent. There are $85,407,000 532 shares of common stock entitled to vote at this meeting. The list of stockholders will be open for inspection by any stockholder of record for the duration this meeting. I hereby appoint Tom Tai of Broadridge to act as the Inspector of Elections to determine the number of shares outstanding and entitled to vote, the number of shares represented at the meeting, the existence of Aquorum, the validity and effective proxies and to receive and tabulate the votes on the matters to be acted upon at the meeting.
Mr. Ty has executed an affidavit to faithfully execute his duties as the inspector. The secretary will attach the affidavit to the minutes of this meeting. It is anticipated that the results who has not filled out an attendance sheet should own the name of the stockholder in a number of shares he or she owns. All stockholders of record who have not submitted proxies should do so unless they wish to vote in person.
If you have previously executed a proxy and now wish to vote in person, the proxy will be returned to you upon request. Mr. Thai, please state the number of shares of common stock in person or by proxy.
There are present by proxy and in person, more than 50% of the outstanding shares entitled to vote at this meeting.
Legal notice of the meeting haven't been given. In a quorum being present, the meeting is lawfully convened and ready to transact business. The first order of business on the agenda is to elect 6 directors to serve until the annual meeting of stockholders of the company to be held in 20 team and their successors have been duly elected and qualified. Nominations are now in order.
I nominate the following persons who are named in company's proxy statement to serve as directors of the company until the annual meeting of stockholders to be held 16 and until their successors have been duly elected and qualified. Strauss Zelnick, Robert A Bowman, Michael Thorneman, Jay Moses, Michael Shareski and Susan Toulton.
I second the nominations.
If there is a stockholder who does not yet have a ballot who wishes to vote in person, please raise your hand so that the Inspector of Elections can deliver a ballot to you. The next of officers. Proposals are now in order.
I propose that the stockholders approve on a non binding advisory basis the compensation of the company's named executive officers as set forth in the proxy statement.
If there is a stockholder who does not yet have a ballot who wishes to vote in person, please raise your hand so the Inspector of Elections can deliver a ballot to you. The next order of business and on the agenda is to vote upon the proposal to ratify the appointment of Ernst And Young LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2016. I would like to introduce Mark Moran and Lizette Snedeker, who are here today representing our and young and will be available to answer questions after the meeting. Proposals are now in order.
I propose that the stockholders approve the ratification the appointment of Ernst And Young LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2016, as set forth in in the proxy statement.
I second the proposal.
If there is a stockholder who does not yet have a ballot who wishes to vote in person, please raise your hand so the Inspector of Elections can deliver a ballot to you. Do any stockholders have questions relating to the business of this meeting? As a reminder, please limit your questions directly to the proposals presented that are to be voted upon at this meeting. Are a personal stockholder or an authorized representative of a stockholder, in which case, they should also identify the stockholder. All speakers will be limited to 3 minutes and no one shall be permitted to allot their time to another speaker.
Please make sure that you have completed all necessary information on your ballots and cast your votes as you have intended for the agenda items. For the Inspector of Elections, please collect the balance. The ballots have been collected, I now declare the poll is closed. As I mentioned previously, the Inspector of Elections will tabulate the results of the voting, which will be reported to we will officially conclude this meeting. There being no additional business to be conducted at the meeting.
The business of the annual meeting is hereby concluded we will now open the floor a stockholder or a representative of a stockholder. At this point, I will turn the floor back over to Strauss Zelnick, our Chairman and CEO.
As Dan said, we'll now open up the floor to questions following the rules outlined earlier in the meeting. Yes, sir. Sure. If you don't mind, I'll be able to hear you better.
Good morning. My name is Howard Turnbull, stockholder, from member I was asked to you last year. I have a follow-up question from last year, but I mentioned since I'm a dual shareholders, Mr. 5 and confirm with world wrestling entertainment, you have their WWE 2K game coming out, I know, in October, in last year's model, about what percent of your revenues came from the WWE 2K software from last year's revenue, if you know offhand.
We don't break out the individual titles.
Okay. Because I know your best selling one is to grant theft auto. So you don't even break out for even your top one as well?
I do not.
Okay. My second question is, I read somewhere, I forgot what page. That last year's revenues, about 42.5% if I recall came from, from Internationally. And I'm just curious how the strength of the dollar has affected the earnings and specifically know approximately how much earnings per share that the strength of the dollar knocked off as a result of?
It's a great question. We are basically naturally hedged because we have operations all around the world. And to the extent, we're not naturally hedged. We engage in some market hedging. So there could be a very small impact of currency changes to minimize, and basically not relevant to our results.
So we're not currency traders, so we want to make sure that we're not exposed and that's why we enter into hedging contracts.
Okay. And just one last quick question, please. In terms of follow-up, I read somewhere, I don't know the exact page, that you're going to be expanding in Asia and specifically in China. What percent of this year's revenues do you think is going to come internationally in overseas?
Well, I think we'll be we're going to be less than 50% outside of the U. S. As we were before. So somewhere between 40% 50%. But under 50 and that's a reflection that our sports business is still U.
S. Dominated. Asia has been an important strategic priority for us. I'm not sure that said we're expanding in Asia. I do believe we continue to state that it's a strategic priority.
We do have the number one Sports PC online title in, in China with NBA 2k online, which has roughly 27,000,000 registered users, and that is to generate revenues and profits for us every month. And as we've noted before, we're launching civilization online in Korea, and we're working on Borderlands Online as well in that territory. And when we launch a title in China and Korea, it's our goal to bring it to other territories. We've already announced for civil we've made license deals in a couple of other Asian territories. So it's
an area of strategic focus, but
I wouldn't say we're necessarily expanding. Any more questions. Okay. Thank you all for joining us today.