FinancialCyberAgent
Partial Correction to FY2023 Third Quarter Consolidated Financial Results: Japan
10 pages~15 min full read
CyberAgent reported a significant decline in profitability for the first nine months of FY2023, with operating income falling 68.3% to ¥17,383 million and net income dropping 88.3% to ¥2,304 million.
See it on page 2The company significantly lowered its full-year FY2023 earnings forecast, now projecting an operating income of only ¥25 million and a net income of ¥720 million, representing a 63% year-over-year decline.
See it on page 2The Internet Advertisement Business reached record sales of ¥300,672 million, yet its operating income still suffered a 30.2% year-over-year decrease.
See it on page 5The Media Business recorded a loss of ¥12,394 million on sales of ¥100,409 million, while the Game Business and Investment Development Business saw sales declines of 21.2% and 22.9%, respectively.
See it on page 5Total liabilities increased by ¥74,661 million to ¥235,349 million, primarily driven by the issuance of convertible bonds and an expansion of long-term bank loans.
See it on page 6Despite the sharp decline in earnings and EPS—which fell from ¥39.12 to ¥4.55—the company maintained its dividend forecast at ¥15 per share for FY2023.
See it on page 2CyberAgent, Inc. issued a partial correction to its FY2023 third‑quarter consolidated financial results under Japanese GAAP, published on May 15 2025. The correction adjusts several numerical figures from the original July 26 2023 release, with detailed revised amounts provided in the updated statement. The company’s net sales for the cumulative third quarter rose marginally to ¥534,397 million (0.1% YoY), while operating income fell sharply to ¥17,383 million, a 68.3% decline from the prior year’s ¥54,813 million. Ordinary income and net income attributable to owners of the parent dropped 67.6% and 88.3%, respectively, reaching ¥17,877 million and ¥2,304 million. Basic earnings per share contracted from ¥39.12 to ¥4.55, and diluted EPS fell from ¥37.03 to ¥4.00.
Total assets increased by ¥79,749 million to ¥461,683 million, driven mainly by convertible bond issuance and long‑term bank loan expansion. Total liabilities rose by ¥74,661 million to ¥235,349 million, with convertible bonds and long‑term loans accounting for the bulk of the increase. Equity grew modestly to ¥226,333 million, reflecting a rise in non‑controlling interests.
Segment analysis shows the Media Business generated ¥100,409 million in sales but recorded a loss of ¥12,394 million; Internet Advertisement Business achieved record sales of ¥300,672 million with a 30.2% YoY decline in operating income; Game Business sales fell 21.2%, and Investment Development Business saw a 22.9% YoY drop in sales. The Other segment posted modest gains.
The company revised its FY2023 earnings forecast, noting a net income estimate of ¥720 million and operating income of ¥25 million for the full year, reflecting a 63% YoY decline. The correction does not alter dividend forecasts; FY2023 dividends remain projected at ¥15 million per share.
