DeNA Investor Update: Disclosure on Feb. 27, 2026

Key insights

6 takeaways

01
DeNA has authorized a share repurchase program of up to 50 billion yen, covering 22.4% of outstanding shares, with a commitment to cancel all repurchased stock.See it on page 7
02
The company is shifting its dividend policy to a dividend on equity (DOE) ratio of approximately 3% starting in fiscal year 2025 to ensure greater payout stability.See it on page 8
03
DeNA plans to sell a portion of its strategic shareholdings in Nintendo Co., Ltd. to improve asset efficiency and support its goal of achieving a return on equity (ROE) of 8% or higher.See it on page 6
04
The company intends to repay 33.1 billion yen in non-consolidated borrowings by the end of fiscal year 2025 to optimize its balance sheet and financial structure.See it on page 4
05
DeNA has set a non-GAAP operating profit target of 15 billion yen for fiscal year 2026.See it on page 3
06
Future capital deployment and large-scale investments will be strictly evaluated based on their projected impact on the company's 8% ROE target.See it on page 4

Summary

DeNA’s February 2026 investor update outlines a strategic shift toward enhancing capital efficiency and shareholder returns, building upon the company’s ongoing mid-term strategy for fiscal years 2024 through 2026. The primary objective is to establish a robust financial structure capable of consistently achieving a return on equity (ROE) of 8% or higher. This initiative responds to capital market feedback and aims to mitigate performance volatility while fostering sustainable long-term growth.

Key financial actions include a significant optimization of the balance sheet and a revised approach to capital allocation. The company plans to sell a portion of its strategic shareholdings in Nintendo Co., Ltd. to improve asset efficiency, following a previous partial divestment in 2022. Furthermore, DeNA has authorized a share repurchase program of up to 50 billion yen, representing 22.4% of its outstanding shares, with a commitment to cancel all repurchased stock. To maintain financial flexibility, the company intends to repay 33.1 billion yen in non-consolidated borrowings by the end of fiscal year 2025 and establish new commitment lines.

Shareholder return policies have also been updated to prioritize stability and consistency. Starting in fiscal year 2025, the company is transitioning to a dividend policy based on a dividend on equity (DOE) ratio of approximately 3%, moving away from previous payout ratio-based models. These financial maneuvers are designed to complement the company’s operational focus, which includes a 15 billion yen non-GAAP operating profit commitment for fiscal year 2026 and continued investment in business development, particularly in artificial intelligence and structural growth areas. The company maintains a disciplined approach to large-scale investments, ensuring all capital deployment is evaluated against its impact on ROE targets.