FinancialCyberAgent
Partial Correction to FY2023 Third Quarter Consolidated Financial Results [Japanese GAAP]
1 May 202510 pages~15 min full read
CyberAgent's net income for the first nine months of FY2023 plummeted 88.3% year-on-year to ¥2,304 million, while operating income fell 68.3% to ¥17,383 million.
See it on page 2The Game Business experienced a 21.2% revenue decline, driven by a slowdown in major titles from subsidiaries such as Cygames.
See it on page 5The Internet Advertisement segment achieved record net sales of ¥300,672 million, though its operating income dropped 30.2% due to upfront investment costs.
See it on page 10Total consolidated net sales remained nearly flat at ¥534,397 million, representing a marginal 0.1% year-on-year increase.
See it on page 2Profitability was heavily impacted by strategic investments in the Media business, specifically the costs associated with broadcasting the FIFA World Cup Qatar 2022 on ABEMA.
See it on page 5Total liabilities rose to ¥235,349 million as of June 30, 2023, following the issuance of convertible bonds and an increase in long-term bank loans.
See it on page 6CyberAgent, 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.
