Updated Mar 17, 2026 by Marvelous
Financial · October 1, 2025
Published by Marvelous
Marvelous Inc. reported consolidated financial results for the first half of the fiscal year ending March 31, 2026, covering the period from April 1, 2025, to September 30, 2025. The data reveals a significant divergence between top-line growth and operational profitability. Net sales rose sharply by 57.5% year-on-year to 20,281 million yen, driven primarily by the Digital Contents Business, which saw revenues nearly double. Despite this revenue surge, operating profit fell by 61.8% to 226 million yen. This decline was largely due to a segment loss of 1,070 million yen in the Digital Contents division, contrasting with the previous year’s profit. Conversely, the Amusement and Audio & Visual segments showed improved profitability, contributing 1,702 million yen and 483 million yen in segment profit, respectively. The financial position remains stable with total assets of 34,328 million yen and an equity-to-asset ratio of 74.9%. Cash flows from operating activities improved dramatically, shifting from a deficit in the prior year to a surplus of 5,822 million yen, aided by a substantial decrease in inventories. Profit attributable to owners of the parent rose 134.7% to 184 million yen, supported by reduced non-operating expenses compared to the previous year’s foreign exchange losses. Looking ahead, the full-year forecast remains unchanged, projecting net sales of 35,000 million yen and an operating profit of 2,000 million yen. This outlook suggests a heavy reliance on second-half performance to recover the current margin compression. The company plans to increase its annual dividend from 10 yen to 12 yen per share, reflecting confidence in its long-term financial health despite the immediate pressure on operating margins.
Note: This document has been machine translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. October 31, 2025 Consolidated Financial Results for the Six Months Ended September 30, 2025 (Under Japanese GAAP) Company name: Marvelous Inc. Listing: Tokyo Stock Exchange Securities code: 7844 URL: https://corp.marv.jp Representative: Shinichi Terui President Inquiries: Chihiro Noguchi Director, Supervisor of Administration E-mail: [email protected] Scheduled date to file semi-annual securities report: November 5, 2025 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: None
Director, Supervisor of Administration E-mail: [email protected] Scheduled date to file semi-annual securities report: November 5, 2025 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: None (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2025 20,281 57.5 226 (61.8) 380 2.0 184 134.7 September 30, 2024 12,877 (8.0) 592 (48.6) 373 (77.3) 78 (92.9) Note: Comprehensive income For the six months ended September 30, 2025:
380 2.0 184 134.7 September 30, 2024 12,877 (8.0) 592 (48.6) 373 (77.3) 78 (92.9) Note: Comprehensive income For the six months ended September 30, 2025: ¥ 176 million [ -%] For the six months ended September 30, 2024: ¥ (80) million [ -%] Basic earnings Diluted earnings per per share share Six months ended Yen Yen September 30, 2025 3.04 - September 30, 2024 1.30 - (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio Net assets per share As of Millions of yen Millions of yen % Yen September 30, 2025 34,328 25,755 74.9
et assets per share As of Millions of yen Millions of yen % Yen September 30, 2025 34,328 25,755 74.9 424.66 March 31, 2025 32,903 26,187 79.5 431.60 Reference: Equity As of September 30, 2025: ¥ 25,722 million As of March 31, 2025: ¥ 26,143 million 2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended - 0.00 - 10.00 10.00 March 31, 2025 Fiscal year ending - 0.00 March 31, 2026 Fiscal year ending March 31, 2026 -
- 10.00 10.00 March 31, 2025 Fiscal year ending - 0.00 March 31, 2026 Fiscal year ending March 31, 2026 - 12.00 12.00 (Forecast) Note: Revisions to the forecast of cash dividends most recently announced: None
3. Consolidated financial result forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to Basic earnings owners of parent per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Full year 35,000 25.2 2,000 10.0 2,000 11.1 1,400 71.0 23.11 Note: Revisions to the financial result forecast most recently announced: None * Notes (1) Significant changes in the scope of consolidation during the period: None Newly included: - companies( ) Excluded: - companies( ) (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: Yes Note: For more information, see Appendix, p. 6, '2. Semi-annual Consolidated Financial Statements and Primary Notes (4) Notes to Semi-annual Consolidated Financial Statements (Notes on Special Accounting for Preparing the Semi-annual Consolidated Financial Statements)'.
Marvelous Inc. reported a significant revenue increase for the first half of the fiscal year ending March 2026, covering the period from April to September 2025. Net sales rose 157.5% year-on-year to 20,281 million yen, primarily driven by the launch of three core video games and robust performance in the amusement sector. Despite the revenue surge, operating profit fell 61.8% to 226 million yen due to high development costs for new titles. However, ordinary profit and net income saw modest gains, aided by a shift from foreign exchange losses to gains. The Digital Contents business experienced nearly doubled sales, reaching 12,414 million yen. Key performers included Rune Factory: Guardians of Azuma and Story of Seasons: Grand Bazaar, both of which surpassed half a million units sold and contributed to profits ahead of schedule. Conversely, the segment recorded a loss of 1,070 million yen, and sales for Daemon X Machina: Titanic Scion were characterized as sluggish. The Amusement business remained a strong profit driver, growing 36.3% in revenue and 41.2% in segment profit, fueled by the domestic and international success of Pokémon-themed kids' amusement machines like Pokémon Frienda and Pokémon Mezastar. The Audio & Visual business saw a revenue decline of 16% following the liquidation of unprofitable units, yet segment profit nearly tripled to 483 million yen due to high-performing stage productions and secondary usage of past anime titles. Looking ahead, the company maintained its full-year forecast of 35,000 million yen in net sales and 2,000 million yen in operating profit. Management plans to focus on the continued expansion of its core first-half releases and upcoming titles like The Thousand Musketeers: Rhodoknight for the Nintendo Switch.
Marvelous Inc. provides a comprehensive financial overview of its performance through the third quarter of the fiscal year ending March 31, 2026. As a Tokyo-based entertainment company, its operations span three primary segments: Digital Contents, which develops games for various platforms; Amusement, focused on arcade game machines; and Audio & Visual, covering music, video, and live stage performances. The data reflects a multi-year trajectory of financial results, including consolidated balance sheets, income statements, and segment-specific sales and income. Financial results for the first nine months of the 2026 fiscal year show net sales of 29,121 million yen, surpassing the full-year totals of the previous two fiscal years. Despite this growth in top-line revenue, operating profit for the period stands at 1,776 million yen, reflecting a lower operating profit ratio of 6.1% compared to 17.9% in 2022. The Digital Contents segment remains the largest contributor to revenue, generating 16,896 million yen in the first three quarters, though it recorded a segment loss of 73 million yen. In contrast, the Amusement segment proved highly profitable, contributing 2,558 million yen in income on sales of 9,298 million yen. The company maintains a stable financial position with total assets of 35,669 million yen and an equity ratio of 76.4% as of December 2025. While net income per share has recovered to 25.56 yen from a loss in 2024, profitability metrics such as Return on Equity have fluctuated significantly over the reported periods. The shareholder structure is anchored by Image Frame Investment (HK) Limited, which holds a 20% stake, followed by founder-related holdings. These figures highlight a period of revenue expansion driven by diverse entertainment segments, tempered by rising costs of sales and shifting profitability within the core digital gaming business.
Koei Tecmo Holdings Co., Ltd. reported its consolidated financial results for the first six months of fiscal year 2025, covering the period from April 1, 2025, to September 30, 2025. Prepared under Japanese GAAP, the data reveals a year-on-year decline across primary profitability metrics. Net sales fell 11.2% to ¥31.27 billion, while operating profit decreased 25.2% to ¥7.96 billion. Ordinary profit and profit attributable to owners of the parent also saw double-digit declines of 15.3% and 15.7%, respectively. Despite these drops in operational earnings, comprehensive income surged by 256.4% to ¥46.41 billion, primarily driven by a significant ¥32.4 billion valuation difference on available-for-sale securities. The consolidated balance sheet shows a substantial increase in total assets, rising from ¥209.8 billion at the end of March 2025 to ¥314.2 billion by September 30, 2025. This growth is largely attributed to a rise in investment securities and cash holdings. On the liabilities side, the company recorded ¥35 billion in short-term borrowings. Shareholders' equity improved to ¥214.9 billion, supported by the disposal of treasury shares through a public offering in September 2025, which reduced treasury share holdings from ¥37.7 billion to ¥3.7 billion. Looking ahead to the full fiscal year ending March 31, 2026, the company maintained its previous forecasts. It expects net sales to reach ¥92 billion, representing a 10.6% increase over the prior year, though it anticipates year-on-year declines in operating profit (down 3.5% to ¥31 billion) and ordinary profit (down 26% to ¥37 billion). The projected annual dividend is set at ¥43 per share. These forecasts account for the increased number of outstanding shares following the recent public and secondary offerings.
MIXI, Inc. reported consolidated financial results for the first half of fiscal year 2026, covering the period from April 1, 2025, to September 30, 2025. The data reveals a slight contraction in overall performance, with net sales decreasing 2.0% year-over-year to ¥67,428 million. Operating income fell 17.5% to ¥7,214 million, while profit attributable to owners of the parent declined 6.2% to ¥4,902 million. Despite these decreases, the company maintained a strong equity ratio of 70.5% and committed to a stable dividend forecast of ¥120 per share for the full year. Performance varied significantly across industry segments. The Digital Entertainment Business, anchored by the mobile game Monster Strike, saw an 11.1% decline in sales due to lower monthly active users, though segment profit rose 2.5% to ¥16,571 million through improved cost efficiencies. The Sports Business experienced 20.5% revenue growth driven by online betting services and spectator growth at Chiba Jets, but segment profit dropped 38.6% due to costs associated with the acquisition of PointsBet Holdings Limited. The Lifestyle Business achieved a turnaround, reaching profitability with ¥72 million in segment profit on 30.0% sales growth, fueled by the FamilyAlbum app. Conversely, the Investment Business saw a 46.8% drop in sales as it lacked the large-scale share sales recorded in the previous year. The financial position was notably impacted by the acquisition of PointsBet, which added six companies to the scope of consolidation and generated ¥19,831 million in provisional goodwill. This expansion contributed to a significant increase in non-current assets and short-term borrowings. Cash and cash equivalents decreased by ¥22,883 million during the period, primarily due to ¥25,533 million in acquisition payments and ¥6,061 million in treasury share repurchases. Based on these mid-year results, the company issued a revised full-year forecast projecting net sales of ¥168,000 million and a 26.1% year-over-year decline in net income.