DeNA Earnings Results: February 27, 2026

Key insights

6 takeaways

01
DeNA is launching a massive share buyback program of up to 50 billion yen, representing 22.4% of its outstanding shares, to be completed by February 2027.See it on page 7
02
The company is divesting 6 million shares of Nintendo Co., Ltd. as part of a broader strategy to reduce policy shareholdings and improve capital efficiency.See it on page 6
03
Management has set a new financial target of a consistent return on equity (ROE) of 8% or higher, supported by a non-GAAP operating profit goal of 15.0 billion yen for fiscal year 2026.See it on page 3
04
A new dividend policy starting in fiscal year 2025 targets a Dividend on Equity (DOE) of approximately 3% to provide more stable shareholder returns.See it on page 8
05
DeNA plans to eliminate its non-consolidated debt by fully repaying 33.1 billion yen in borrowings by the end of fiscal year 2025.See it on page 7
06
The company is prioritizing disciplined capital allocation and the integration of artificial intelligence to drive long-term competitiveness beyond the 2026 mid-term strategy period.See it on page 3

Summary

DeNA Co., Ltd. has formalized a strategic initiative to improve capital efficiency and enhance corporate value, specifically targeting a consistent return on equity (ROE) of 8% or higher. This management shift, updated as of February 2026, focuses on balancing business growth with disciplined capital allocation. The company aims to move beyond historical performance volatility by optimizing its balance sheet, refining its investment criteria, and revising its shareholder return policies to align with long-term sustainable growth.

Key financial measures include a commitment to a non-GAAP operating profit of 15.0 billion yen for fiscal year 2026. To improve capital efficiency, the company is actively reducing its policy shareholdings, most notably through the planned sale of 6 million shares of Nintendo Co., Ltd. Furthermore, DeNA is implementing a new dividend policy starting in fiscal year 2025, shifting to a Dividend on Equity (DOE) target of approximately 3% to ensure stable returns. The company also announced a significant share buyback program of up to 50 billion yen, representing 22.4% of its outstanding shares, to be executed through February 2027.

The strategy emphasizes a rigorous approach to capital allocation, prioritizing growth investments that contribute directly to ROE targets while simultaneously reducing surplus cash and non-consolidated debt. By the end of fiscal year 2025, the company plans to fully repay 33.1 billion yen in non-consolidated borrowings. These efforts are supported by a broader organizational focus on structural business improvements and the integration of emerging technologies, such as artificial intelligence, to secure long-term competitiveness beyond the current mid-term strategy period ending in 2026.