Financial

Partial Correction to FY2022 Consolidated Financial Results (Japanese GAAP)

1 May 202519 pages7,876 words

Summary

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.

Pages

View all

Citation

Generating citation...

Similar 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.

investment japan market-analysis

CyberAgent, Inc.May 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.

investment market-analysis japan

CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2020 Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. achieved significant financial growth during the fiscal year ended September 30, 2020, characterized by a 5.5% increase in net sales to ¥478,526 million and a 9.8% rise in operating income to ¥33,839 million. The most notable metric was the 287.5% surge in profit attributable to shareholders of the parent, which reached ¥6,567 million. This performance drove basic earnings per share from ¥13.45 in the previous year to ¥52.09, allowing for a year-end dividend of ¥34.00. The company’s financial position strengthened alongside these earnings, with net assets rising to ¥127,637 million and cash flow from operating activities increasing to ¥37,028 million. The Group’s success was primarily anchored by the Game and Internet Advertisement segments, which generated incomes of ¥30,337 million and ¥21,030 million, respectively. While the Media Business experienced 22.6% sales growth, it recorded an operating loss of ¥18,267 million as a result of sustained strategic investments in the ABEMA streaming platform. Geographically, operations remain concentrated in the Japanese market, which accounts for over 90% of total sales and assets. To better align with current management strategies, the company also executed a structural transfer of specific businesses from the Internet Advertisement segment to the Media segment. Looking ahead, the company forecasts continued expansion with a net sales target of ¥500 billion for fiscal year 2021. This outlook is supported by the strong performance of hit game titles and the broader expansion of the smartphone market. Despite ongoing impairment losses, which decreased to ¥4,589 million from the previous year’s ¥9,502 million, the Group maintains a robust liquidity position with a year-end cash balance exceeding ¥102,368 million. This capital provides the necessary foundation for continued investment in intangible assets and property to support its diverse reportable segments.

mergers-acquisitions investment japan

CyberAgent, Inc.May 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.

investment japan market-analysis

CyberAgent, Inc.May 2025

Financial

FY2022 Consolidated Financial Results (Japanese GAAP)

CyberAgent achieved record net sales of ¥710.6 billion for the 2022 fiscal year, representing a 6.6% year-on-year increase. This growth was primarily driven by the Internet Advertisement Business, which expanded by 17.3%, and a 35.3% revenue surge in the Media Business fueled by the ABEMA platform. Despite these gains, consolidated operating income fell 33.8% to ¥69.1 billion, while net income attributable to the parent dropped to ¥24.2 billion. This profitability decline stems largely from a normalization of the Game Business, which saw sales and operating income decrease by 13.1% and 37.2% respectively as major titles from the previous year experienced natural slowdowns. The financial landscape was further impacted by a shift in revenue recognition for the Game Business, moving from the point of purchase to the estimated customer usage period. While shareholders' equity grew to ¥222.9 billion, cash and cash equivalents decreased to ¥168 billion due to elevated tax payments and strategic investing activities. The company also recorded a ¥4.2 billion impairment loss on long-lived assets within the gaming segment. These shifts reflect a transition period as the organization rebalances its portfolio away from the exceptional highs of previous gaming hits toward long-term media infrastructure. Looking toward the 2023 fiscal year, the strategic focus shifts toward content investment and market share expansion. Management forecasts modest sales growth to ¥720 billion but anticipates a further contraction in operating income to between ¥40 billion and ¥50 billion. This outlook accounts for heavy investments in high-profile content, specifically the FIFA World Cup on ABEMA, which is intended to narrow media losses and solidify the platform's user base. While the Game Business remains a significant profit center, the overall corporate trajectory emphasizes scaling the advertisement and media segments to ensure diversified, sustainable growth within the Japanese digital economy.

investment market-analysis japan

CyberAgentOct 2022

Financial

Partial Correction to FY2022 Third Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. issued this corrective filing on May 15, 2025, to amend its consolidated financial results for the third quarter of fiscal year 2022, originally disclosed in July 2022. The revisions stem from a broader initiative to correct past annual securities reports and financial statements for prior fiscal years. The scope of the data covers the nine-month period ending June 30, 2022, and includes comparative data from the same period in 2021, prepared in accordance with Japanese GAAP. The corrected figures show that for the third quarter of FY2022, CyberAgent recorded net sales of ¥533,882 million, a 9.7% increase year-on-year. However, operating income fell 29.1% to ¥54,813 million, and profit attributable to shareholders of the parent dropped 39.8% to ¥19,779 million. The Media Business, driven by ABEMA’s pay-per-view growth, saw sales rise 36.2% to ¥81,926 million while narrowing its operating loss. The Internet Advertisement Business reached record high sales of ¥283,878 million. Conversely, the Game Business experienced a 6.9% decline in sales to ¥173,551 million and a 29.4% drop in operating income, attributed to the high baseline set by major events in the previous year. Methodologically, the results reflect the application of the Accounting Standard for Revenue Recognition. This change specifically impacted the Game Business, where revenue from item charges is now recognized over an estimated user usage period rather than at the point of purchase. Despite these accounting adjustments and the numerical corrections, the company maintained its full-year earnings forecast and dividend projections as originally stated in April 2022. Total assets were reported at ¥373,421 million, a slight decrease from the end of the previous fiscal year due to corporate tax and dividend payments.

investment japan market-analysis

CyberAgent, Inc.May 2025

Partial Correction to FY2022 Consolidated Financial Results (Japanese GAAP)

Summary

Tags

Pages

Citation

Citation

Similar Documents

Partial Correction to FY2021 Consolidated Financial Results (Japanese GAAP)

Partial Correction to FY2023 Consolidated Financial Results [Japanese GAAP]

Partial Correction to FY2020 Consolidated Financial Results [Japanese GAAP]

Partial Correction to FY2024 Consolidated Financial Results (Japanese GAAP)

FY2022 Consolidated Financial Results (Japanese GAAP)

Partial Correction to FY2022 Third Quarter Consolidated Financial Results [Japanese GAAP]