KLab Inc. experienced a significant financial downturn in FY2021 (ended December 31, 2021), reporting a net loss of 3,468 million yen, a sharp decline from a 767 million yen profit in FY2020.
02
Revenue for FY2021 decreased by 29.6% to 23,895 million yen, down from 33,952 million yen in FY2020, primarily due to a sharp fall in sales of existing game titles and the impact of new competing titles.
03
The company recorded an operating loss of 1,105 million yen and an ordinary loss of 1,028 million yen in FY2021, contrasting with operating income of 2,149 million yen and ordinary income of 1,564 million yen in FY2020.
04
Cash and cash equivalents decreased significantly to 3,816,978 thousand yen at the end of FY2021, a reduction of 4,188,804 thousand yen from the previous fiscal year, mainly due to net cash used in operating, investing, and financing activities.
05
Key factors contributing to the losses included a net loss before tax adjustment of 2,673,471 thousand yen and an impairment loss of 1,648,181 thousand yen.
06
KLab Inc. did not pay any dividends in FY2020 or FY2021, and no dividends are forecasted for FY2022.
07
The company will not disclose consolidated operating performance forecasts for FY2022 due to the rapidly changing environment in the Game Business and the difficulty in predicting trends for existing titles, despite plans to release titles jointly developed with Electronic Arts Inc.
Insights
01
KLab Inc. experienced a significant financial downturn in FY2021 (ended December 31, 2021), reporting a net loss of 3,468 million yen, a sharp decline from a 767 million yen profit in FY2020.
02
Revenue for FY2021 decreased by 29.6% to 23,895 million yen, down from 33,952 million yen in FY2020, primarily due to a sharp fall in sales of existing game titles and the impact of new competing titles.
03
The company recorded an operating loss of 1,105 million yen and an ordinary loss of 1,028 million yen in FY2021, contrasting with operating income of 2,149 million yen and ordinary income of 1,564 million yen in FY2020.
04
Cash and cash equivalents decreased significantly to 3,816,978 thousand yen at the end of FY2021, a reduction of 4,188,804 thousand yen from the previous fiscal year, mainly due to net cash used in operating, investing, and financing activities.
05
Key factors contributing to the losses included a net loss before tax adjustment of 2,673,471 thousand yen and an impairment loss of 1,648,181 thousand yen.
06
KLab Inc. did not pay any dividends in FY2020 or FY2021, and no dividends are forecasted for FY2022.
07
The company will not disclose consolidated operating performance forecasts for FY2022 due to the rapidly changing environment in the Game Business and the difficulty in predicting trends for existing titles, despite plans to release titles jointly developed with Electronic Arts Inc.