Financial

Partial Correction to FY2023 Third Quarter Consolidated Financial Results [Japanese GAAP]

1 May 202510 pages3,050 words

Summary

CyberAgent, Inc. issued this formal correction to its consolidated financial results for the third quarter of fiscal year 2023, covering the nine-month period ending June 30, 2023. The primary purpose of the document is to provide revised numerical data and financial statements following the submission of correction reports for past annual securities reports. The scope of the data includes the company’s major business segments: Media, Internet Advertisement, Games, Investment Development, and Other Businesses. Key findings for the cumulative third quarter of FY2023 show net sales of ¥534,397 million, a marginal year-on-year increase of 0.1%. However, profitability metrics saw significant declines. Operating income fell 68.3% to ¥17,383 million, and net income attributable to owners of the parent dropped 88.3% to ¥2,304 million. These declines are attributed to heavy investments in the Media business—specifically the distribution of the FIFA World Cup Qatar 2022 on ABEMA—and a 21.2% revenue decrease in the Game Business following the slowdown of major titles like those from Cygames. The consolidated financial position as of June 30, 2023, shows total assets of ¥461,683 million, an increase of ¥79,749 million from the end of the previous fiscal year. This growth was primarily driven by the issuance of convertible bonds and an increase in long-term bank loans, which also resulted in total liabilities rising to ¥235,349 million. The Internet Advertisement business remained a primary driver of volume, reaching record net sales of ¥300,672 million, though its operating income decreased by 30.2% due to upfront investments. The methodology follows Japanese GAAP standards, incorporating recent changes to accounting policies regarding fair value measurement and group tax sharing systems.

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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.

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CyberAgent, Inc.Jan 2023

Partial Correction to FY2023 Third Quarter Consolidated Financial Results [Japanese GAAP]

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