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GungHo Online Entertainment Financial Results: Fiscal Year Ended December 31, 2023

GungHo Online Entertainment’s fiscal year 2023 financial results highlight a strategic pivot toward global market expansion, characterized by a significant increase in overseas net sales.

• GungHo Online Entertainment achieved consolidated net sales of 125.3 billion yen for the fiscal year ended December 31, 2023.
• The company’s global revenue ratio reached 64% in 2023, a significant increase from 11% in 2016, driven by international distribution of mobile and PC titles.
• Financial stability remains heavily reliant on the flagship mobile title Puzzle & Dragons and the global expansion of the Ragnarok franchise managed by subsidiary Gravity.

GungHo Online Entertainment Financial Results: FY2023 3Q

GungHo Online Entertainment’s third-quarter fiscal year 2023 financial results highlight a strategic pivot toward global market expansion and the diversification of its mobile-centric portfolio.

• GungHo’s overseas net sales ratio reached 65% in the first three quarters of 2023, signaling a successful shift away from a Japan-centric revenue model.
• Consolidated net sales and operating profit declined quarter-over-quarter due to a reactionary drop following the strong Q2 launch of Ragnarok Origin in Southeast Asia.
• Year-over-year net sales growth was primarily driven by the performance of Gravity’s Ragnarok-related titles, though this also contributed to an increase in the overall cost of sales.

Gravity Co. 20-F: FY2022

Gravity Co., Ltd. reports a solid fiscal year 2022, with revenue rising 12% to KRW 463.6 bn (US$367.9 m) and operating profit improving to KRW 104.7 bn (US$83.1 m).

• Gravity Co. reported FY2022 revenue of KRW 463.6 bn (US$367.9 m), a 12% increase, with operating profit rising to KRW 104.7 bn (US$83.1 m).
• The Ragnarok IP remains the company's primary revenue driver, accounting for 77% of total income through titles like Ragnarok Origin, Ragnarok M: Eternal Love, and Ragnarok X: Next Generation.
• Gross margin declined to 42% from 45.8% due to increased platform and royalty costs, though operating margin improved to 22.6% driven by finance income and lower tax expenses.

GungHo Online Entertainment FY2022 Financial Results

GungHo Online Entertainment’s financial results for the fiscal year ending December 31, 2022, reflect a period of stable revenue generation alongside a decline in overall profitability.

GungHo Online Entertainment Financial Results Briefing: FY2022

GungHo Online Entertainment’s FY2022 financial results highlight a strategy focused on maximizing the value of existing intellectual property and expanding the global reach of its subsidiary, Gravity.

• GungHo Online Entertainment reported consolidated net sales of 105.5 billion yen for FY2022, maintaining a steady upward revenue trend despite a year-over-year profit decline caused by higher outsourcing and administrative expenses.
• The Ragnarok franchise served as a primary growth driver, with successful distribution across Southeast Asia, North America, and East Asia fueling a Q4 recovery in both sales and profit.
• Puzzle & Dragons maintained stable monthly active user counts throughout the fiscal year, supported by ongoing strategic collaborations with major intellectual properties.

Financial Results for the First Half of the Fiscal Year Ending March 2022

Koei Tecmo achieved record-breaking financial performance during the first half of the fiscal year ending March 2022, characterized by a 60.8% increase in sales to ¥37.2 billion and a 94.4% surge in operating profit to ¥16.4 billion.

• Koei Tecmo reported record H1 fiscal 2022 results with sales rising 60.8% to ¥37.2 billion and operating profit surging 94.4% to ¥16.4 billion.
• Growth was primarily driven by the Entertainment segment, where smartphone and social game revenue nearly doubled, led by titles like Romance of the Three Kingdoms Ha-do and Three Kingdoms Tactics.
• Despite strong H1 performance, the company maintained a conservative full-year sales forecast of ¥65 billion, citing potential stabilization of pandemic-driven demand and global economic volatility.

GungHo Online Entertainment FY2022 Q2 Financial Results

GungHo Online Entertainment’s financial results for the second quarter of the fiscal year ending December 2022 reflect a period of contraction across all primary profit metrics compared to the same period in the previous year.

• GungHo Online Entertainment experienced a broad financial contraction in Q2 FY2022, with net sales falling 8.6% to 46.6 billion yen and operating profit dropping 23.1% to 13.2 billion yen year-over-year.
• Net profit attributable to owners of the parent company saw the sharpest decline, decreasing 34.6% to 8.6 billion yen compared to the same period in the previous year.
• Flagship title Puzzle & Dragons surpassed 59 million domestic downloads as of April 2022, while the console game Ninjala reached 9 million global downloads in May 2022.

Corsair Gaming 10-K — FY2021

Corsair Gaming’s FY 2021 filing demonstrates a robust expansion of its high-performance gaming and streaming portfolio, with revenue reaching $1.90 billion—an 11.8% increase from the prior year and a 73.5% rise over pre-pandemic levels.

• Corsair Gaming reported FY2021 revenue of $1.90 billion, representing an 11.8% year-over-year increase and a 73.5% rise compared to pre-pandemic levels.
• The Gamer & Creator Peripherals segment grew 20% to $647 million, while the Gaming Components & Systems segment grew 8% to $1.26 billion despite margin pressure from GPU shortages.
• Net income reached $101 million, supported by an integrated ecosystem that allows Corsair to command price premiums of 24.7% to 43.7% over competitors in the U.S. market.

GungHo Online Entertainment FY2021 Financial Results

GungHo Online Entertainment’s financial results for the fiscal year ending December 31, 2021, demonstrate a period of sustained growth characterized by increased revenue and profitability.

• GungHo Online Entertainment reported FY2021 net sales of 104.6 billion yen, a 5.8% year-over-year increase, with operating profit rising 8.8% to 32.8 billion yen.
• Net income attributable to owners of the parent grew by 39.8% to 22.9 billion yen, driven by a strategic focus on existing IP and global expansion.
• The mobile title Puzzle & Dragons remains the company's primary revenue driver, maintaining stable monthly active user counts through consistent updates and collaborations.

GungHo Online Entertainment Financial Results Briefing: FY2021

GungHo Online Entertainment’s fiscal year 2021 financial results demonstrate a period of sustained growth driven by the continued monetization of core intellectual properties and the aggressive global expansion of the Ragnarok franchise.

• GungHo Online Entertainment reported strong FY2021 financial results with consolidated net sales of 104.6 billion yen and an operating profit of 32.8 billion yen.
• The flagship title Puzzle & Dragons remained the primary driver of domestic performance, maintaining high monthly active user counts through consistent collaboration events.
• Subsidiary Gravity successfully scaled the Ragnarok franchise internationally, with the regional rollouts of Ragnarok Origin and Ragnarok X: Next Generation significantly boosting revenue in Southeast Asia and North America.

GungHo Online Entertainment Financial Results Briefing: FY2021 Q3

GungHo Online Entertainment’s fiscal year 2021 third-quarter financial results demonstrate a period of growth driven by the successful performance of core intellectual properties and the expansion of its subsidiary, Gravity.

• GungHo reported growth in both net sales and operating income for Q3 2021 on both a quarter-over-quarter and year-over-year basis.
• The flagship title Puzzle & Dragons maintained high monthly active user counts through consistent live-service updates, with preparations underway for its 10th anniversary in early 2022.
• The Nintendo Switch title Ninjala surpassed 8 million worldwide downloads, supported by e-sports integration and planned anime adaptations.

GungHo Online Entertainment FY2021 Q2 Financial Results

GungHo Online Entertainment’s financial results for the second quarter of the fiscal year ending December 2021 demonstrate strong growth across its global gaming operations.

• GungHo reported significant growth for Q2 2021, with net sales rising 21.0% to 51,036 million yen and operating profit increasing 39.5% to 17,225 million yen.
• Profit attributable to owners of the parent surged by 66.4% year-over-year, reaching 13,278 million yen.
• Flagship title Puzzle & Dragons maintained stable monthly active users through consistent updates and collaborations, serving as a primary driver of financial performance.