Elden Ring

Kadokawa Earnings Results for the Fiscal Year Ended March 31, 2026

Kadokawa’s fiscal year ending March 31, 2026, represents a pivotal transition period characterized by a 1.8% increase in net sales to 282.9 billion JPY, contrasted against a 51.3% decline in operating profit to 8.1 billion JPY.

• Kadokawa’s operating profit fell 51.3% to 8.1 billion JPY for the fiscal year ending March 31, 2026, driven by rising personnel costs and difficult year-over-year comparisons following the peak performance of Elden Ring.
• The company launched a six-year Mid-term Management Plan through FY2031 aimed at achieving record group profits and a 9.4% ROE by prioritizing IP lifetime value and blockbuster development.
• International expansion is a primary growth driver, with overseas net sales increasing by 29.4% during the fiscal year.

Earnings Results: FY2026 Q3

KADOKAWA’s financial performance through the third quarter of fiscal year 2026 reflects a period of transition characterized by a slight consolidated revenue decline to 202.9 billion yen and a sharp 59.7% drop in operating profit.

• Kadokawa reported a 59.7% drop in operating profit and a decline in consolidated revenue to 202.9 billion yen for Q3 FY2026, driven by publishing margin compression and difficult year-on-year comparisons in gaming.
• The gaming division is pivoting toward next-generation hardware, with development underway for 'Elden Ring Tarnished Edition' and a Nintendo-exclusive title, 'The Duskbloods', for the successor to the Nintendo Switch.
• Gaming earnings have normalized following the massive success of 'Elden Ring' in the prior year, though the segment still generated 2.5 million units in repeat sales and DLC volume.

Kadokawa Q3 FY2026 Financial Results (Japanese GAAP)

This financial report details the consolidated results for KADOKAWA Corporation during the first nine months of the fiscal year ending March 31, 2026, covering the period from April 1, 2025, to December 31, 2025.

• Kadokawa’s operating profit plummeted 59.7% to 6.3 billion yen for the first nine months of FY2026, while net income fell 70.0% to 2.2 billion yen on net sales of 202.9 billion yen.
• The Publication and IP segment experienced a 90.2% decline in operating profit, driven by rising personnel costs and a lack of major domestic hits, despite growth in U.S. and Asian markets.
• The Animation and Live-Action segment shifted to an operating loss of 904 million yen due to a reliance on new, less established titles compared to the previous year's major successes.

Kadokawa Corporation: Summary of Consolidated Earnings Results for the Six Months Ended September 30, 2025

Kadokawa Corporation experienced a difficult first half for the fiscal year ending September 30, 2025, characterized by a 1.8 percent decline in net sales to 133.9 billion yen and a substantial 47.8 percent drop in operating profit to 5.5 billion yen.

• Kadokawa Corporation reported a 1.8% decline in net sales to 133.9 billion yen and a 47.8% drop in operating profit to 5.5 billion yen for the six months ended September 30, 2025.
• The company issued a downward revision of its full-year financial forecasts following underperformance in the Publication and Animation segments.
• Financial results were negatively impacted by a 2.7 billion yen extraordinary loss stemming from impairment charges and goodwill amortization in the Animation and Film division.

Kadokawa Earnings Results for the 1st Quarter Ended June 30, 2025

Kadokawa experienced a challenging first quarter for the fiscal year ending June 30, 2025, characterized by a 1.5 percent decline in consolidated net sales and a substantial 61.5 percent drop in operating profit.

• The Gaming segment saw a 11.5% increase in net sales and a 40.4% rise in operating profit, driven by strong performance from FromSoftware's ELDEN RING franchise and its DLC.
• Publication/IP Creation segment net sales fell 3.8% year-over-year, with operating profit declining by 3.995 billion yen due to fewer hit titles and the impact of prior-year accounting changes.
• The Education/EdTech segment grew net sales by 10.4% to 4.388 billion yen, supported by an 11.5% increase in student enrollment for the N High School Group and the launch of ZEN University.

Bandai Namco Group: First Quarter Result Presentation FY2026.3

Bandai Namco Group’s first-quarter results for the fiscal year ending March 2026 demonstrate record-high performance, characterized by strong global demand across its diversified portfolio of intellectual property and entertainment services.

• Bandai Namco achieved record-high first-quarter results for FY2026.3, with net sales reaching 300.4 billion yen and operating profit rising to 51.9 billion yen, an increase of 7.9 billion yen year-over-year.
• The company upwardly revised its first-half operating profit forecast from 78.5 billion yen to 90.0 billion yen, though it maintained its full-year operating profit target of 145.0 billion yen due to uncertainties regarding upcoming title performance and seasonal trends.
• The Digital segment saw a significant profit increase to 21.7 billion yen (up 7.0 billion yen), driven by the strong performance of 'ELDEN RING: Shadow of the Erdtree' (NIGHTREIGN), which contributed to 4.62 million new unit sales and 6.13 million repeat unit sales.

Bandai Namco Group Fiscal Year Ended March 2025: Information Meeting

Bandai Namco Group concluded the fiscal year ending March 2025 with record-high financial performance, reporting net sales of 1,241.5 billion yen and an operating profit of 180.2 billion yen.

• Bandai Namco achieved record-high financial results for FY2025.3, reporting net sales of 1,241.5 billion yen and an operating profit of 180.2 billion yen.
• The Digital Business segment saw significant growth, with 5.4 million units sold for 'DRAGON BALL Sparking! ZERO' and strong performance from 'ELDEN RING' repeat sales and new app titles.
• The Toys and Hobby segment generated 596.9 billion yen in sales, driven by strategic initiatives in trading card games and expanded product offerings for mature fan bases in North America and Asia.

Kadokawa Financial Results Briefing for the Fiscal Year Ended March 31, 2025

The fiscal year ended March 31, 2025, represented a period of operational resilience for Kadokawa, as the company navigated the significant financial and systemic impacts of a large-scale cyberattack.

Kadokawa Earnings Results for the Fiscal Year Ended March 31, 2025

Kadokawa’s fiscal year ending March 31, 2025, reflects a period of operational resilience and strategic transformation despite significant headwinds.

• Kadokawa reported net sales of 277.9 billion JPY for the fiscal year ended March 31, 2025, a 7.7% increase year-on-year, though operating profit declined 9.8% to 16.7 billion JPY.
• The Publication/IP Creation segment experienced a 57.2% year-on-year decline in operating profit, primarily due to the absence of major hit titles compared to the previous fiscal year and increased advertising and logistics costs.
• The 'Others' segment saw a 11.9% decline in full-year net sales to 17.9 billion JPY, impacted by a withdrawal from certain product sales and a cyberattack that affected inter-segment transactions.

Kadokawa Corporation Summary of Consolidated Financial Results for the Year Ended March 31, 2025

Kadokawa Corporation concluded the fiscal year ending March 31, 2025, with a complex financial performance characterized by top-line growth tempered by significant operational disruptions.

CD Projekt Group FY 2024 Earnings

CD Projekt Group presents its FY 2024 earnings, outlining financial performance, operational milestones and a long-term growth outlook for the studio and its portfolio.

• CD Projekt Group reported FY 2024 revenue of PLN 1.23 billion, a 20% year-on-year decrease, while achieving a net profit of PLN 481.1 million.
• The company projects a significant improvement in profitability, targeting a net profit margin of 58.5% compared to the 47.7% expected for 2024 and 39% in 2023.
• Development resources are heavily concentrated on a multi-project pipeline, with 650 developers currently assigned to titles including The Witcher 4, Orion, Sirius, Hadar, and the Witcher Remake.

Kadokawa Earnings Results for the 3rd Quarter Ended December 31, 2024

Kadokawa’s financial performance for the nine months ending December 31, 2024, reflects a period of resilient growth characterized by a 10.5% increase in net sales and an 18.8% rise in operating profit.

• Kadokawa reported a 10.5% increase in net sales and an 18.8% rise in operating profit for the nine months ending December 31, 2024.
• The gaming segment surged 53.5% year-over-year, primarily driven by the strong performance of the Elden Ring franchise.
• International net sales grew by 40.7%, serving as a critical pillar for the company's overall revenue expansion.