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Partial Correction to FY2023 Third Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. issued this formal correction to its consolidated financial results for the third quarter of fiscal year 2023, covering the nine-month period ending June 30, 2023.

• CyberAgent's net income for the first nine months of FY2023 plummeted 88.3% year-on-year to ¥2,304 million, while operating income fell 68.3% to ¥17,383 million.
• The Game Business experienced a 21.2% revenue decline, driven by a slowdown in major titles from subsidiaries such as Cygames.
• The Internet Advertisement segment achieved record net sales of ¥300,672 million, though its operating income dropped 30.2% due to upfront investment costs.

Partial Correction to FY2023 Consolidated Financial Results [Japanese GAAP]

CyberAgent’s consolidated financial results for the fiscal year ended September 30, 2023, reveal a period of transition characterized by modest top-line growth alongside a sharp contraction in profitability.

• CyberAgent’s FY2023 operating income plummeted 66.9% to ¥22,351 million, driven largely by a 62.5% profit decline in the Game Business due to lower revenue from high-margin titles.
• Net income attributable to owners of the parent dropped significantly to ¥3,540 million from ¥22,901 million in the previous year, reducing basic earnings per share from ¥45.29 to ¥6.99.
• The Media Business, anchored by ABEMA, grew revenue by 25.8% behind events like the FIFA World Cup Qatar 2022 but remained unprofitable with a segment loss of ¥12,873 million.

CyberAgent Quarterly Report: Term 26 Q2

This quarterly report details the financial performance of CyberAgent, Inc. for the second quarter of the 26th fiscal term, covering the period from January 1, 2023, to March 31, 2023.

2Q FY2023 Presentation Material: January to March 2023

CyberAgent achieved record-high quarterly consolidated sales of 195.6 billion yen during the second quarter of fiscal year 2023, representing a period of significant operational recovery and strategic growth.

• CyberAgent achieved record-high consolidated quarterly sales of 195.6 billion yen for 2Q FY2023.
• The Game business saw a 191.7% quarter-on-quarter profit surge, driven by anniversary events for flagship titles like Uma Musume Pretty Derby and Granblue Fantasy.
• The Media segment, led by ABEMA, increased revenue by 22.4% year-over-year to 33.4 billion yen while narrowing operating losses to 0.5 billion yen.

FY2023 Second Quarter Consolidated Financial Results: Japanese GAAP

CyberAgent’s financial performance for the second quarter of fiscal year 2023 reflects a period of revenue stability contrasted by significant profit compression.

• CyberAgent’s consolidated operating income fell 61.5% year-over-year to ¥17.5 billion in Q2 FY2023, despite net sales remaining nearly flat at ¥363.2 billion.
• The Game Business segment experienced a 47% decline in income, dropping from ¥38.5 billion in the prior year to ¥17.3 billion.
• Operating losses in the Internet Media segment increased due to substantial costs associated with distributing the FIFA World Cup Qatar 2022.

CyberAgent Q1 2023 Quarterly Report

CyberAgent’s Q1 2023 quarterly report, covering the period from October 1, 2022, to December 31, 2022, details a period of strategic investment and financial contraction.

• CyberAgent reported a consolidated net loss of 5.00 billion yen for Q1 2023, driven by an operating loss of 1.26 billion yen compared to a 19.80 billion yen profit in the same period last year.
• The game business segment experienced a significant downturn, with revenue falling 29.9% to 40.92 billion yen and operating profit dropping 69.6% to 5.21 billion yen due to a cyclical lull between major title anniversaries.
• The media segment, anchored by ABEMA, saw a 34.0% revenue increase but incurred an operating loss of 9.36 billion yen, primarily due to costs associated with broadcasting the FIFA World Cup.

1Q FY2023 Presentation Material: October to December 2022

CyberAgent’s financial performance for the first quarter of fiscal year 2023 reflects a strategic transition period characterized by heavy capital allocation toward high-visibility media events.

• Consolidated quarterly revenue reached 191.1 billion yen for 1Q FY2023, while operating profit fell to 5.2 billion yen due to increased personnel costs of 25 billion yen and heavy media segment investments.
• The advertising business remains the primary profit driver with 95.6 billion yen in sales, followed by the gaming business at 40.9 billion yen.
• The ABEMA media platform incurred a 9.3 billion yen operating loss during the quarter, driven by content acquisition and infrastructure costs associated with the FIFA World Cup Qatar 2022.

FY2023 First Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent’s consolidated financial results for the first quarter of the fiscal year ending September 30, 2023, reveal a period of strategic investment and market fluctuation.

• CyberAgent reported a consolidated operating loss of ¥1,255 million for Q1 FY2023 (ending December 31, 2022), a significant reversal from the ¥19,804 million operating income recorded in the same period the previous year.
• The Game Business segment experienced a sharp downturn, with sales falling 29.9% to ¥40,916 million and operating income dropping 69.6% to ¥5,212 million as major titles moved past their anniversary peaks.
• The Media Business, driven by FIFA World Cup Qatar 2022 coverage, grew net sales by 34% to ¥33,485 million, though heavy content and distribution costs resulted in an operating loss of ¥9,356 million.

FY2022 Presentation Material

CyberAgent's FY2022 performance demonstrates a company experiencing sustained top-line growth, driven by its advertising and media segments, while navigating significant profitability challenges primarily stemming from its game business.

• CyberAgent achieved 710.5 billion yen in sales in FY2022, marking 25 consecutive years of growth, primarily driven by its advertising and media segments.
• Operating profit for FY2022 declined by 33.8% to 69.1 billion yen, with a projected further drop to 40-50 billion yen in FY2023, largely due to challenges in the game business and strategic investments.
• The game business experienced a significant downturn in FY2022, with sales decreasing by 13.1% to 228.3 billion yen and operating profit falling by 37.2% to 60.5 billion yen.

FY2022 Consolidated Financial Results (Japanese GAAP)

CyberAgent achieved record net sales of ¥710.6 billion for the 2022 fiscal year, representing a 6.6% year-on-year increase.

• CyberAgent achieved record net sales of ¥710.6 billion in FY2022, a 6.6% year-on-year increase, despite a 33.8% decline in consolidated operating income to ¥69.1 billion.
• The Game Business experienced a significant contraction, with sales falling 13.1% and operating income dropping 37.2% due to the natural slowdown of major titles and a shift in revenue recognition policies.
• The Internet Advertisement Business grew by 17.3% and the Media Business, driven by the ABEMA platform, surged by 35.3%, signaling a strategic pivot toward media infrastructure.

2Q FY2022 Presentation Material: January to March 2022

CyberAgent’s financial performance for the second quarter of fiscal year 2022 reflects a period of robust growth across its core business segments, characterized by consolidated sales of 191.1 billion yen and an operating profit of 25.7 billion yen.

• CyberAgent reported Q2 FY2022 consolidated sales of 191.1 billion yen and an operating profit of 25.7 billion yen, marking a 16.9% year-over-year revenue increase.
• The Game business generated 69.0 billion yen in sales and 21.3 billion yen in operating profit, driven by anniversary events for major titles including Uma Musume Pretty Derby and Granblue Fantasy.
• The full-year operating profit forecast is projected to decline by 32.9% to 70 billion yen due to heavy upfront media investments and the expected normalization of gaming sector performance.

NEXON FY2015 Q2 Earnings Presentation: Summary of Q&As

This summary of the Nexon FY2015 Q2 earnings question-and-answer session outlines the company’s strategic outlook, operational performance, and financial expectations.