Related Documents
Financial
Partial Correction to FY2021 Consolidated Financial Results (Japanese GAAP)
CyberAgent, Inc. achieved exceptional financial growth during the 2021 fiscal year, characterized by a 39.2% increase in consolidated net sales to ¥666,149 million and a 207.5% surge in operating income to ¥104,070 million. This performance was underpinned by a significant rise in profit attributable to shareholders, which climbed from ¥6,567 million in the previous year to ¥41,242 million. The company’s liquidity position strengthened considerably, with cash and cash equivalents nearly doubling to ¥184,082 million, supported by robust operating cash flows of ¥109,609 million. The Game Business served as the primary catalyst for this expansion, recording a 68.6% revenue increase to ¥262,751 million and a 217.9% jump in segment income to ¥96,445 million. This success was largely attributed to the performance of a major new title launch. Simultaneously, the Internet Advertisement Business reached record net sales of ¥321,001 million, while the Media Business grew by 45.1%, successfully narrowing its operating losses to ¥15,141 million. Other corporate developments included a four-for-one stock split implemented in April 2021, resulting in adjusted basic earnings per share of ¥81.68. Despite the strong fiscal results, management has opted not to provide a formal forecast for the 2022 fiscal year. This decision stems from the inherent volatility of the game industry, where the timing of new title launches and the fluctuation of hit-driven revenue cycles create significant uncertainty. While the company maintains a diversified portfolio across media, advertising, and investment development, the high impact of the gaming segment on overall profitability necessitates a cautious approach to forward-looking guidance.
CyberAgentMay 2025
Financial
Partial Correction to FY2022 Consolidated Financial Results (Japanese GAAP)
CyberAgent’s financial performance for the fiscal year ended September 30, 2022, reflects a period of strategic transition characterized by record-breaking growth in media and advertising alongside a significant contraction in the gaming sector. Consolidated net sales reached ¥709.9 billion, a 6.6% year-over-year increase, yet operating income fell 35.1% to ¥67.5 billion. This decline in profitability was primarily driven by the Game Business, where sales dropped 13.1% to ¥228.4 billion and operating income plummeted 37.2% due to the natural slowdown of major titles. Despite these headwinds, the Internet Advertisement Business achieved record sales of ¥376 billion, and the Media Business grew 35.5% behind the expansion of the ABEMA platform. The fiscal year also marked a shift in financial health and accounting methodology. Total equity rose substantially to ¥221.2 billion, yet net cash from operating activities decreased from ¥109.6 billion to ¥17.9 billion, largely due to increased income tax obligations. Furthermore, the adoption of new revenue recognition standards altered how game item charges are recorded, moving from the point of purchase to the estimated usage period. These changes, combined with the transition to a group tax sharing system, resulted in basic earnings per share falling from ¥81.68 to ¥45.29. Looking forward, the company maintains a stable dividend policy of ¥14.00 per share and projects modest growth for FY2023 with a net sales forecast of ¥720 billion. While the gaming segment remains a core profit driver, the overall corporate strategy increasingly relies on the diversification of revenue through digital media and advertising to offset the inherent volatility of the mobile gaming market. This corrected financial outlook underscores a period of high investment and structural adjustment within the Japanese digital entertainment and advertising landscape.
CyberAgentMay 2025
Financial
Partial Correction to FY2023 Consolidated Financial Results [Japanese GAAP]
CyberAgent’s consolidated financial results for the fiscal year ended September 30, 2023, reveal a period of transition characterized by modest top-line growth alongside a sharp contraction in profitability. While net sales rose 1.3% to ¥719,451 million, operating income plummeted 66.9% to ¥22,351 million. This decline was primarily driven by the Game Business, where operating income fell 62.5% to ¥22,708 million due to reduced revenue from high-margin titles. Consequently, net income attributable to owners of the parent dropped significantly from ¥22,901 million in the previous year to ¥3,540 million, resulting in a decrease in basic earnings per share from ¥45.29 to ¥6.99. The Media Business, anchored by the streaming platform ABEMA, demonstrated strong revenue growth of 25.8%, bolstered by high-profile events such as the FIFA World Cup Qatar 2022. However, the segment continued to operate at a loss of ¥12,873 million. Simultaneously, the Internet Advertisement Business expanded its market share but experienced a 26.3% decrease in profit. Despite these earnings pressures, the company maintained a robust liquidity position, ending the period with ¥201,780 million in cash and cash equivalents, supported by financing activities including the issuance of convertible bonds. Operations remain heavily concentrated in the Japanese domestic market, which accounts for over 90% of total sales and assets. Looking toward the 2024 fiscal year, projections suggest a recovery with a forecasted 34.2% increase in operating income. This anticipated growth is predicated on a pipeline of new game releases and a narrowing of deficits within the Media Business. The transition to a group tax sharing system further reflects the evolving corporate structure across its five primary reportable segments: Media, Internet Advertisement, Game, Investment Development, and Other Businesses.
CyberAgentMay 2025
Financial
Partial Correction to FY2024 Consolidated Financial Results (Japanese GAAP)
CyberAgent’s fiscal year 2024 consolidated financial results reveal a period of robust recovery and operational efficiency, characterized by an 11.4% increase in net sales to ¥801,236 million. Operating income surged by 79.3% to reach ¥40,083 million, while net income attributable to owners of the parent experienced a dramatic 351.3% jump to ¥15,977 million. This financial turnaround was largely propelled by the Media Business, which successfully narrowed its operating loss from ¥12,873 million to just ¥1,927 million, and a high-performing Internet Advertisement Business that consistently outpaced broader market growth. The Game Business remains a vital profit driver, generating ¥195,985 million in net sales and a 34.6% increase in operating income to ¥30,569 million. This growth was fueled by the successful launch of new titles alongside the steady performance of existing smartphone applications. Geographically, the company’s operations remain heavily concentrated in Japan, with over 90% of sales and assets originating within the domestic market. Enhanced cash flow management was also evident, as net cash from operating activities more than doubled to ¥53,231 million, supporting a total equity balance of ¥250,504 million by year-end. Looking toward fiscal year 2025, projections indicate continued upward momentum with a net sales target of ¥820,000 million. A primary strategic milestone for the upcoming period is the anticipated transition of the Media Business into a profitable segment. Reflecting this positive outlook and strengthened earnings per share—which rose from ¥6.99 to ¥31.56—the annual dividend is expected to increase to ¥17.00 per share. These results underscore a successful stabilization of core business segments and a clear trajectory toward sustained profitability across the entire portfolio.
CyberAgentMay 2025