Updated Mar 17, 2026 by Akatsuki
Financial · February 1, 2026
Published by Akatsuki
Akatsuki Inc. demonstrated significant financial growth during the first nine months of the fiscal year ending March 31, 2026, characterized by a substantial increase in profitability despite modest revenue gains. Net sales rose 2.1% to ¥16,497 million, while profit attributable to owners surged by 287.6% to reach ¥2,856 million. This performance was primarily driven by enhanced operational efficiencies within the core Games and Comics segment and the successful market entry of new intellectual properties, most notably the August 2025 launch of Kaiju No. 8 The Game. Although the gaming division experienced a slight decline in top-line revenue, its segment profit more than doubled to ¥3,391 million, reflecting a strategic shift toward high-margin operations and the liquidation of underperforming subsidiaries. The company expanded its operational scope through aggressive diversification and restructuring, establishing a new reporting framework consisting of Games and Comics, Entertainment and Lifestyle, and AI/DX Solutions. Strategic acquisitions played a pivotal role in this evolution, with the consolidation of entities such as CRAYON, Inc., PAPABUBBLE, Inc., and Natee Inc. contributing to a ¥3,880 million increase in goodwill. These investments bolstered the Entertainment and Lifestyle portfolio and provided the foundation for the new AI/DX Solutions segment, signaling a long-term commitment to integrating technology and lifestyle brands into the broader entertainment ecosystem. Geographically focused on the Japanese market for the period ending December 31, 2025, the financial results indicate a robust balance sheet bolstered by diversified revenue streams, including the growth of the Slash Gift online lottery service. However, management has opted not to provide a full-year earnings forecast, citing inherent volatility in the gaming sector and the ongoing impact of heavy investment activities. This cautious outlook underscores a focus on long-term structural growth and IP development over short-term predictability.
ding Consolidated Financial Statements for the Third Quarter of Fiscal Year Ending March 31, 2026 (Japanese GAAP) February 9, 20 26 Name of Listed Company: Akatsuki Inc. Stock listed on: Tokyo Stock Exchange Code Number: 3932 URL https://aktsk.jp/ Representative: Title: President and CEO Name: Tetsuro Koda Inquiries: Title: Director, Executive Vice President, CFO and CSO Name: Kazuhiro Ishikura TEL: +81-3 -5422-7757 Scheduled dividend payment date: ― Quarterly material to supplement the financial results: Yes Quarterly financial results conference: No (Amounts less than 1 million yen have been rounded down) 1. Consolidated Results for the First Nine-Month Period of FY 20 25 (April 1, 20 25 to December 31, 2025 ) (1) Consolidated Operating Results (cumulative) (Percentages indicate year-on-year change)
million yen have been rounded down) 1. Consolidated Results for the First Nine-Month Period of FY 20 25 (April 1, 20 25 to December 31, 2025 ) (1) Consolidated Operating Results (cumulative) (Percentages indicate year-on-year change) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % First nine-month 16,497 2.1 3, 063 115. 7 3, 318 48. 6 2,856 287. 6 period, FY2025 First nine-month 16,161 △4.0 1,420 △9.1 2,233 41.5 737 9.4 period, FY2024 (Note) Comprehensive income: First nine-month period, FY2025: 3,237 Million yen ( 277. 6% ) First nine-month period, FY2024: 857 Million yen ( 2.3 %)
9.4 period, FY2024 (Note) Comprehensive income: First nine-month period, FY2025: 3,237 Million yen ( 277. 6% ) First nine-month period, FY2024: 857 Million yen ( 2.3 %) Profit per Share Diluted Profit per Share Yen Yen First nine-month period, FY2025 198. 11 198. 09 First nine-month period, FY2024 51. 12 50.94 (2) Consolidated Financial Position Total assets Net assets Equity Ratio Million yen Million yen % As of December 31, 2025 57,687 43, 092 74.2 As of March 31, 2025 54, 632 41, 455 75. 3 (Reference) Equity: As of December 31, 2025 : 42, 785 Million yen As of March 31, 2025 : 41, 111 Million yen
74.2 As of March 31, 2025 54, 632 41, 455 75. 3 (Reference) Equity: As of December 31, 2025 : 42, 785 Million yen As of March 31, 2025 : 41, 111 Million yen 2. Dividends Dividends per share End of Third Quarter End of Second Quarter End of Third Quarter Year End Full Year Total Yen Yen Yen Yen Yen FY2024 - 40.00 - 55.00 95.00 FY2025 - 55.00 - FY2025 (Forecast) - - (Notes) 1. Revisions to the latest dividend forecasts: None 2. The year-end dividend for the fiscal year ending March 31, 2026 is undetermined given uncertainties in forecasting business performance at the present time.
- - (Notes) 1. Revisions to the latest dividend forecasts: None 2. The year-end dividend for the fiscal year ending March 31, 2026 is undetermined given uncertainties in forecasting business performance at the present time. 3. Forecasts for FY2025 (April 1, 20 25 to March 31, 2026 ) Providing appropriate and reliable forecasts is difficult given many uncertainties impacting the short-term operating environment of the Games and Comics business, as well as the Company’s intention to continue investing in other businesses. Therefore, going forward, the Company has a policy to strive for timely disclosure of quarterly financial results and business overview and to not provide full-year forecasts. For details, please refer to “1. Qualitative Information on Consolidated Results for the Current Period, (3) Qualitative information on Forecasts of Consolidated Operating Results” on page 3 of the attachment.
* Matters of note: (1) Significant changes in the scope of consolidation during the third quarter of consolidated FY2025: Yes Newly added: 5 companies (Company name: CRAYON, Inc. and 4 other companies) Excluded: 1 company (Company name: Akatsuki Fukuoka, Inc.) Note: For details, please refer to “2. Quarterly Consolidated Financial Statements and Related Notes, Notes on the Quarterly Consolidated Financial Statements (Changes in Scope of Consolidation or Scope of Equity Method)” on page 7 of the attachment. (2) Application of accounting methods specific to the preparation of quarterly consolidated financial statements: Yes (3) Changes in accounting policies, accounting estimates and restatement of corrections 1) Changes in accounting policies due to the revision of accounting standards and other regulations: None 2) Changes in accounting policies other than 1) above: None 3) Changes in accounting estimates: None 4) Restatements: None (4) Shares outstanding (Common shares) 1) Number of shares outstanding As of December 31, 2025 14,519,8 00 As of March 31, 2024 14,517,100 (including treasury shares) 2) Number of treasury shares As of December 31, 2025 97,531 As of March 31, 2024 97,531 3) Average number of shares First nine-months of FY2025 14,420, 687 First nine-months of FY2024 14, 419, 522 during the term (No
Akatsuki Inc. experienced a significant downturn in financial performance during the first quarter of the fiscal year ending March 31, 2026, characterized by a 44.0% year-on-year decline in net sales to ¥2,313 million. This contraction led to a widened operating loss of ¥1,698 million and a net loss of ¥1,167 million. The primary driver of this decline was the Games business, where revenue plummeted 52.3% to ¥1,782 million. This segment’s performance was impacted by a strategic portfolio review and a transition period for flagship titles such as Dragon Ball Z Dokkan Battle, resulting in a segment loss of ¥1,643 million. Furthermore, the company recorded a ¥103 million extraordinary loss stemming from the discontinuation of a specific game title and subsequent organizational restructuring. Despite these challenges in the core gaming sector, the newly reclassified IP Solutions segment emerged as a growth driver, with revenue increasing 167.2% to ¥298 million and achieving a segment profit of ¥122 million following the consolidation of CRAYON, Inc. Conversely, the Comics business saw an 18.3% revenue decline, though it successfully returned to a modest segment profit of ¥20 million. Total assets decreased by ¥3,656 million during the period, settling at ¥50,976 million, yet the company maintains a robust financial foundation with a high equity ratio of 78.7%. The current strategic trajectory involves a pivot toward large-scale, 3D multi-device projects designed for global markets. This shift aims to stabilize the Games segment by moving beyond traditional mobile constraints while leveraging the momentum found in IP-driven solutions. While the immediate financial results reflect the costs of reorganization and the volatility of existing game lifecycles, the emphasis remains on long-term scalability and the diversification of revenue streams across the broader entertainment landscape.
Akatsuki Inc. experienced a period of strategic transition during the first half of the fiscal year ending March 31, 2025, characterized by a contraction in core gaming revenue alongside aggressive expansion into new business segments. Net sales declined 20.6% year-on-year to ¥9,915 million, while operating profit fell 42.4% to ¥1,724 million. This downturn was primarily driven by a reactionary decline in the performance of existing game titles. However, net income attributable to owners rose 31.4% to ¥1,853 million, bolstered by the successful launch of Kaiju No. 8 The Game and the growing contribution of the Entertainment and Lifestyle segment. The financial structure underwent significant shifts as the company expanded its consolidation scope to include six new entities, most notably CRAYON Inc., Natee, Inc., and PAPABUBBLE JAPAN HD, Inc. These acquisitions, totaling several billion yen, resulted in a provisional goodwill increase of ¥3,352 million and a rise in long-term borrowings to ¥6,763 million. To reflect this evolving business model, the company restructured its reporting segments, merging Games and Comics while elevating the Entertainment and Lifestyle division due to its increased materiality and growth potential. Despite the growth in net income and the expansion of the IP-driven lifestyle business, management has opted not to provide consolidated operating forecasts for the remainder of the fiscal year. This decision stems from high levels of uncertainty within the Games and Comic sectors, where market volatility makes precise projections difficult. The current strategy focuses on balancing the stabilization of the core gaming portfolio with the integration of newly acquired subsidiaries to diversify revenue streams beyond traditional digital entertainment.
CyberAgent demonstrated robust financial growth through the third quarter of the fiscal year ending September 2025, characterized by a 5.8% year-on-year increase in net sales to ¥631,993 million and a substantial 40.1% surge in operating income to ¥48,798 million. This performance was primarily propelled by a successful turnaround in the Media and IP segment, specifically ABEMA, alongside a 31.0% rise in Game Business operating income. The gaming division remains the primary profit driver, contributing ¥35,162 million in income, which offset a ¥3,514 million impairment loss resulting from declining profitability in specific legacy services. Improved payment efficiencies and the success of major titles further bolstered these results, leading to an upward revision of the full-year forecast to ¥850,000 million in net sales. The company’s financial position strengthened during this period, with total equity rising to ¥273,654 million and retained earnings growing to ¥138,698 million. Beyond immediate operational gains, there is a clear strategic focus on long-term expansion within the digital transformation and startup ecosystems. This is evidenced by the establishment of the CA Startups Internet Fund No. 4, a venture capital vehicle with a maximum investment of ¥5,000 million. Managed by CyberAgent Capital, this fund targets seed and early-stage startups both domestically and internationally. Due to the scale of this investment relative to the parent company’s capital stock, the fund is classified as a specified subsidiary, signaling a commitment to fostering innovation in the global digital sector as a core component of future growth.
COLOPL, Inc. reported its consolidated financial results for the first quarter of the fiscal year ending September 30, 2026, covering the period from October 1, 2025, to December 31, 2025. The data reveals a period of transition characterized by declining top-line revenue but significantly improved bottom-line profitability compared to the previous year. Net sales fell 10.2% year-on-year to 4,772 million yen, primarily due to lower revenue in the Entertainment Business as several existing smartphone titles saw extended distribution periods. Despite the revenue decline, the group narrowed its operating loss from 730 million yen in the prior year to 86 million yen. This improvement was driven by a group-wide cost review that successfully reduced advertising and selling expenses. Ordinary profit rose sharply by 752.4% to 484 million yen, bolstered by 442 million yen in foreign exchange gains. Profit attributable to owners of the parent increased 279.6% to 170 million yen, even after accounting for a 273 million yen extraordinary loss related to a career transition support program under its business restructuring initiative. The Entertainment Business remains the primary segment, generating 4,681 million yen in sales, with "DRAGON QUEST WALK" continuing to provide steady contributions. The Investment and Development Business reported 90 million yen in sales and narrowed its segment loss through the sale of operational investment securities. Geographically focused on Japan and IT-related investments, the company maintains a strong financial position with an equity ratio of 91.7% and total assets of 72,183 million yen. Due to the rapid volatility of the entertainment market, the company has opted not to disclose a consolidated financial forecast for the full fiscal year.