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-Two. Please note that today's shareholder meeting is being broadcast by a listen-only webcast that is available on our website at www.taketwogames.com. A replay of the webcast will also be available on our website later today. Before we begin, I'd like to remind everyone that the statements made during this meeting that are not historical facts are considered forward-looking statements under federal securities laws. 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.taketwogames.com. I'd now like to introduce Strauss Zelnick, Chairman and CEO of Take-Two.
Thanks, Hank. Good morning and welcome. Thanks for being here. The annual meeting of stockholders of Take-Two Interactive Software will please come to order. Today's agenda includes a review of the 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, Karl Slatoff, President of the company, Lainie Goldstein, our Chief Financial Officer, Dan Emerson, Executive Vice President, General Counsel, and Linda Zabriskie, Vice President, Associate General Counsel, and Secretary of the company. I'd also like to introduce our board members who are here today, J Moses, Michael Dornemann, Michael Sheresky, and Susan Tolson. I'll now turn the floor over to Dan Emerson.
Good morning. I will act as chair of this portion of the meeting. Ms. Zabriskie will act as Secretary of the meeting. The meeting will be conducted in accordance with the agenda that was distributed at the start of the meeting. As detailed in Take-Two's proxy filing, the proposals to be considered and voted upon at this annual meeting are as follows: The election of six 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 basis of the compensation of the company's named executive officers. The ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending March 31, 2016, and such other business as 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 on July 27th, 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 the business to come before the meeting. I would like to take a moment to review several of the key rules with you. Anyone wishing to address the meeting must be a stockholder of record as of July 27th, 2015 record date, or a person holding a valid proxy from a 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 while the polls are deemed open for voting on the proposals, we will entertain questions directly related to the matters being voted upon. After we have concluded the business of the meeting, the meeting will be adjourned. We will open the floor to general questions. By your presence at this meeting, you acknowledge your understanding of and willingness to abide by the procedural rules that were provided to you today. Now let us continue with the business of the meeting. Ms. Zabriskie, will 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 of Annual Meeting of Stockholders dated July 28th, 2015, and the proxy materials dated July 20th, 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 5th, 2015, of the Notice of Annual Meeting and proxy materials to stockholders of record at the close of business on July 27th, 2015. I order the affidavit of mailing be filed with the minutes of this meeting. Ms. Zabriskie, will you please present a list of stockholders as of the close of business on July 27th, 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 27th, 2015, furnished by an authorized representative of the company's transfer agent. There are 85,407,532 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 of this meeting. I hereby appoint Tom Tighe 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 a quorum, the validity and effect of proxies, and to receive and tabulate the votes on the matters to be acted upon at the meeting. Mr. Tighe 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 will be reported to me as soon as practicable. Is there any stockholder present who has not filled out an attendance sheet showing the name of the stockholder and the 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. Tighe, please state the number of shares of common stock present 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 having been given, 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 six directors to serve until the annual meeting of stockholders of the company to be held in 2016 and their successors have been duly elected and qualified. Nominations are now in order.
I nominate the following persons who are named in the company's proxy statement to serve as directors of the company until the annual meeting of stockholders to be held in 2016 and until their successors have been duly elected and qualified. Strauss Zelnick, Robert A. Bowman, Michael Dornemann, J Moses, Michael Sheresky, and Susan Tolson.
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 order of business on the agenda is to cast an advisory vote to approve the compensation of the company's named executive 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.
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. The next order of business on the agenda is to vote upon the proposal to ratify the appointment of Ernst & 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 Lissette Snedeker, who are here today representing Ernst & Young and will be available to answer questions after the meeting. Proposals are now in order.
I propose that the stockholders approve the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2016, as set forth 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. Any stockholder that wants to ask a question must state their name and whether they 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 three 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.
Will the Inspector of Elections please collect the ballots? The ballots having been collected, I now declare the polls closed. As I mentioned previously, the Inspector of Elections will tabulate the results of the voting, which will be reported to me as soon as practicable. As I noted earlier, once the business of the meeting has concluded, 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, and we will now open the floor to a question-and-answer period. As a reminder, any stockholder who wants to ask a question must state their name and whether they are a personal 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.
Can I have a microphone?
Sure, if you don't mind. I'll be able to hear you better.
Yes. Good morning. My name is Howard Turnbull, stockholder. If you remember, I asked you last year. I have a follow-up question from last year. I am interested since I'm a dual shareholder, as Mr. Tighe can confirm, with World Wrestling Entertainment, you have their WWE 2K game coming out, I know in October. In last year's model, about what % 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 the Grand Theft Auto, you don't even break out for even your top one as well?
We 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 internationally. I'm just curious how the strength of the dollar has affected the earnings, and specifically, do you 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. There could be a very small impact of currency changes, but de minimis, and basically not relevant to our results. We're not currency traders, so we want to make sure that we're not totally exposed, and that's why we enter into hedging contracts.
Okay, 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 % of this year's revenues do you think is going to come internationally and overseas?
I think we're going to be less than 50% outside of the U.S. as we were before. Somewhere between 40% and 50%, but under 50%, and that's a reflection that our sports business is still U.S. dominated. Asia's been an important strategic priority for us. I'm not sure that we've 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 China with NBA 2K Online, which has roughly 27 million registered users, and that continues to generate revenues and profits for us every month. As we've noted before, we're launching Civilization Online in Korea, and we're working on Borderlands Online as well in that territory. When we launch a title in China or in Korea, it's our goal to bring it to other territories.
We've already announced for Civilization, we've made license deals in a couple of other Asian territories. It's an area of strategic focus, but I wouldn't say we're necessarily expanding.
Thank you very much.
Thank you. Any more questions? Thank you all for joining us today.