Consolidated Financial Results for the Six Months Ended September 30, 2026

Key insights

7 takeaways

01
Net sales fell 30.7% year over year to ¥14,047 million for the six months ended September 30, 2026, driven by a sharp drop in the Digital Content Business, while operating profit rose to ¥2,724 million from ¥226 million.See it on page 10
02
The Digital Content Business swung from a ¥1,070 million loss to a ¥1,329 million profit, becoming the key driver of the profitability turnaround.See it on page 10
03
Profit attributable to owners of parent reached ¥2,106 million, and interim operating and ordinary profit already exceed 90% of full-year targets, yet the company maintained its full-year net sales forecast of ¥30,000 million, citing uncertainty over release timing for several second-half titles.See it on page 7
04
Marvelous repurchased 4,630,700 treasury shares in August 2026 and cancelled 5,003,341 shares, with share repurchases totaling ¥2,169 million and cash and cash equivalents falling to ¥14,218 million.See it on page 11
05
Full-year dividend guidance was raised to ¥15.00 per share from ¥12.00 in the prior year.See it on page 2
06
Segment profits were ¥1,447 million for the Amusement Business and ¥735 million for the Audio & Visual Business, with ¥788 million of corporate expenses unallocated.See it on page 10
07
The equity-to-asset ratio stood at 76.3% with total assets of ¥35,265 million, and the statements are unaudited because semi-annual results are exempt from CPA review.See it on page 5

Summary

Marvelous Inc., a Tokyo Stock Exchange-listed game developer and publisher, reports consolidated results under Japanese GAAP for the six months ended September 30, 2026. Net sales fell 30.7% year over year to ¥14,047 million, reflecting a sharp drop in the Digital Content Business compared with the prior-year period, yet operating profit rose to ¥2,724 million from ¥226 million, and profit attributable to owners of parent reached ¥2,106 million. Total assets declined slightly to ¥35,265 million, and the equity-to-asset ratio stood at 76.3%. The Company maintained its full-year forecast for the fiscal year ending March 31, 2027, with net sales projected at ¥30,000 million, despite interim operating and ordinary profit already exceeding 90% of their full-year targets, citing uncertainty around the release timing of several titles scheduled for the second half.

Segment results show a notable shift in profitability. The Digital Content Business swung from a loss of ¥1,070 million to a profit of ¥1,329 million, while the Amusement Business and Audio & Visual Business reported segment profits of ¥1,447 million and ¥735 million respectively, with corporate expenses of ¥788 million unallocated.

Capital management was a significant feature of the period. The Company acquired 4,630,700 treasury shares in August 2026 and cancelled 5,003,341 shares, reducing capital surplus and treasury shares by ¥3,063 million each. Cash and cash equivalents decreased to ¥14,218 million, largely reflecting share repurchases of ¥2,169 million and higher lease and guarantee deposits. Dividend guidance for the fiscal year is ¥15.00 per share, up from ¥12.00 in the prior year.

The statements are unaudited, as semi-annual results are exempt from CPA review. Detailed operating commentary is provided separately in accompanying investor briefing materials. The Company reported no changes in accounting policies, estimates, or consolidation scope, and no going-concern concerns were identified.