# Romance of the Three Kingdoms XI with Power Up Kit

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 628070
- Developer: KOEI TECMO GAMES CO., LTD.
- Released: 2018 · Genre: Strategy · List price: $39.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $4.6k to $7.0k per month (mid $5.8k)
- Opportunity score: $12.2k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 186.9k · Est. lifetime net revenue: $1.6M
- Review sentiment: 92% positive across 4095 reviews (3738 from Steam purchases)
- Review velocity: 27.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 8.6 years
- Studio active elsewhere (76 titles tracked), so this one may welcome a partner
- Last build shipped 8.6 years ago
- Store page localized in only 2 language(s)

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $10.5k |
| After VAT / sales tax (-13% blended) | $9.2k |
| After refunds (-9.5% median) | $8.3k |
| Net to developer (after Steam 30%) | $5.8k |

## Monthly review counts, oldest to newest (24 months)

30, 28, 39, 75, 39, 48, 34, 33, 24, 34, 41, 26, 42, 30, 48, 22, 58, 22, 30, 28, 23, 27, 27, 27

## Estimated acquisition range

$139.3k to $278.5k (2-4x the trailing net annuity of $69.6k/year). Same error range applies.

## Analyst notes (AI-assisted)

A 2018 Koei Tecmo turn-based strategy game set in Three Kingdoms China, offering deep diplomatic and military simulation with extensive mod support.

Romance of the Three Kingdoms XI is a quiet earner: $5.8k/mo residual on a $39.99 price point with 92% positive sentiment and zero discounts ever applied. The game has moved 186,900 units lifetime and still draws 27 reviews per month six years post-launch, signaling a durable niche audience. For a publisher or acquisition-focused studio, this represents a defensible back-catalog title with minimal churn risk and untapped localization/mod-marketplace upside; the series itself remains owned by Koei Tecmo, limiting external acquisition, but a licensing or co-publishing expansion play merits exploration.

- Most realistic play: licensing
- Risk (market): Turn-based grand strategy has finite addressable market; velocity flat over 24 months suggests ceiling is near current run rate.
- Risk (other): No discount ever applied and no recent developer posts (103+ months) suggest Koei Tecmo is in hands-off stewardship mode; new content or platform expansions unlikely without external push.

Suggested first moves:
1. Confirm current licensing terms with Koei Tecmo and whether mod-monetization rights or regional distribution opportunities exist.
2. Audit user-generated content ecosystem (workshop, forums, Discord) to size expansion surface for cosmetics, balance patches, or seasonal content.
3. Model console or mobile port viability: Three Kingdoms XI's turn-based design and low-poly aesthetic may suit Switch or mobile with minimal rework.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/628070
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.