KLab Inc. reported a significant decline in financial performance for FY2024, with revenue decreasing by 22.5% to 8,306 million yen, and an increased net loss attributable to owners of parent of 2,782 million yen, compared to a loss of 1,819 million yen in FY2023.
02
The company experienced increased operating and ordinary losses in FY2024, with an operating loss of 1,342 million yen (compared to 1,218 million yen in FY2023) and an ordinary loss of 1,280 million yen (compared to 852 million yen in FY2023).
03
Key factors contributing to the revenue decline include a decrease in the number of operated titles and the delayed global launch of EA SPORTS FC™ TACTICAL, despite some positive performance from new titles like Haikyu!! Fly High and steady releases from subsidiary GlobalGear.
04
KLab Inc. will not disclose consolidated operating performance forecasts for FY2025 due to the difficulty in providing reliable projections for the co-developed title EA SPORTS FC™ TACTICAL with Electronic Arts Inc., which is a priority for launch.
05
The company recorded significant losses in Q4 FY2024, including an 861 million yen loss on valuation of investment securities and a 152 million yen impairment loss on software and other assets.
06
Net assets decreased by 1,337 million yen to 10,371 million yen at the end of FY2024, primarily due to the net loss, despite increases in capital stock and capital surplus.
07
KLab Inc. breached a financial covenant requiring no ordinary loss for two consecutive fiscal periods, leading to the establishment of a security interest in subsidiary shares to avoid a loss of benefit of time.
Insights
01
KLab Inc. reported a significant decline in financial performance for FY2024, with revenue decreasing by 22.5% to 8,306 million yen, and an increased net loss attributable to owners of parent of 2,782 million yen, compared to a loss of 1,819 million yen in FY2023.
02
The company experienced increased operating and ordinary losses in FY2024, with an operating loss of 1,342 million yen (compared to 1,218 million yen in FY2023) and an ordinary loss of 1,280 million yen (compared to 852 million yen in FY2023).
03
Key factors contributing to the revenue decline include a decrease in the number of operated titles and the delayed global launch of EA SPORTS FC™ TACTICAL, despite some positive performance from new titles like Haikyu!! Fly High and steady releases from subsidiary GlobalGear.
04
KLab Inc. will not disclose consolidated operating performance forecasts for FY2025 due to the difficulty in providing reliable projections for the co-developed title EA SPORTS FC™ TACTICAL with Electronic Arts Inc., which is a priority for launch.
05
The company recorded significant losses in Q4 FY2024, including an 861 million yen loss on valuation of investment securities and a 152 million yen impairment loss on software and other assets.
06
Net assets decreased by 1,337 million yen to 10,371 million yen at the end of FY2024, primarily due to the net loss, despite increases in capital stock and capital surplus.
07
KLab Inc. breached a financial covenant requiring no ordinary loss for two consecutive fiscal periods, leading to the establishment of a security interest in subsidiary shares to avoid a loss of benefit of time.