Ragnarok Online
Game
Documents about Ragnarok Online
GungHo Online Entertainment Corporate Overview
GungHo Online Entertainment’s corporate overview outlines a strategic transition in management and operational focus as of mid-2026.
- GungHo reported strong H1 2026 financial growth, with operating profit rising 27.1% to 6,380 million yen and net profit increasing 40.4% to 3,460 million yen on 51,759 million yen in net sales.
- The company is shifting its capital allocation strategy to include a 4% Dividend on Equity (DOE) target, a minimum 50% consolidated dividend payout ratio, and flexible share buybacks.
- Future growth is anchored in international expansion via subsidiary Gravity Co., Ltd. and a pipeline expansion that grew from five titles in 2025 to nine currently.
Financial Results Briefing FY2025
GungHo Online Entertainment is currently undergoing a fundamental strategic pivot, transitioning from a primary focus on the domestic Japanese mobile market toward a global, multi-platform distribution model.
- GungHo is executing a strategic pivot from the domestic Japanese mobile market to a global, multi-platform model, with overseas net sales projected to reach 66% of total revenue in FY2025, up from 11.4% in 2016.
- Consolidated net sales and operating profit are in a four-year decline, with quarterly performance metrics dropping from a peak of over 16,000 to approximately 7,750.
- The company is addressing the softening sales of legacy mobile titles and decreased revenue from its subsidiary Gravity by leveraging high-profile collaborations with brands like Sanrio and Digimon.
Gravity Co. 20-F — FY2021 (April 2022)
Gravity Co., Ltd. reports a fiscal year 2021 marked by a strategic pivot toward mobile gaming, with mobile titles generating 77% of total revenue—up from 62.5% in 2020—and contributing a 7.3% rise to ₩320,164 million (US$269 m).
- Gravity Co. achieved a 7.3% revenue increase to ₩320,164 million (US$269 million) in FY2021, driven by a strategic shift toward mobile gaming which now accounts for 77% of total revenue, up from 62.5% in 2020.
- Operating profit reached ₩96.7 billion (US$81 million) with a 23.4% margin, bolstered by efficient cost management and reduced commission costs despite a 21% rise in operating expenses from higher salaries and advertising.
- Revenue growth is geographically concentrated in Southeast Asian markets, specifically Thailand and Japan, which offset sharp sales declines in the Korean and Taiwanese markets.
Gravity Co. Annual Report on Form 20‑F for FY2020
Gravity Co., Ltd. reports a fiscal year 2020 that saw revenue rise 12.5% to KRW 405,953 million (US$ 373.8 m), driven largely by mobile-game micro-transactions, which accounted for 73.5% of total sales.
- Gravity Co. reported a 12.5% revenue increase to KRW 405,953 million in FY2020, with mobile micro-transactions accounting for 73.5% of total sales.
- Operating profit grew by 81.6% to KRW 88.4 billion, while gross profit margins improved significantly to 41.1% compared to 26.4% in 2018.
- The flagship title 'Ragnarok M: Eternal Love' generated 43.6% of total revenue, while 'Ragnarok Online' experienced a 111.6% sales surge following its relaunch in Thailand.
GungHo Online Entertainment FY2020 Q3 Financial Results Briefing
GungHo Online Entertainment’s fiscal year 2020 third-quarter financial results highlight a strategy centered on the creation of new intellectual property, the maximization of existing core titles, and the expansion of subsidiary operations.
- GungHo reported a quarter-over-quarter increase in consolidated revenue, driven by the sustained performance of flagship title Puzzle & Dragons and successful new releases from subsidiary Gravity.
- The Nintendo Switch title Ninjala reached over 5 million worldwide downloads, supported by a cross-media strategy involving anime, manga, and e-sports.
- Gravity’s expansion in Asia significantly bolstered financial health, with Ragnarok Origin and Ragnarok X: Next Generation achieving top-tier sales rankings in South Korea, Taiwan, Hong Kong, and Macau.
Gravity Co., Ltd. Form 20‑F: FY2016 Annual Report
Gravity Co., Ltd. reported a decisive turnaround in fiscal 2016, with net revenue rising to KRW 51.4 billion (US$42.7 million) and operating profit turning positive at KRW 3.4 billion (US$179 k) after consecutive losses in 2014 and 2015.
- Gravity Co., Ltd. achieved a financial turnaround in FY2016, reporting KRW 51.4 billion in net revenue and an operating profit of KRW 3.4 billion after consecutive losses in 2014 and 2015.
- The flagship title Ragnarok Online drove the recovery, accounting for 57.3% of total sales and contributing to a significant gross margin expansion from 15.1% to 41.6%.
- Revenue remains heavily concentrated in a single IP and its overseas licensees, with GungHo alone accounting for 21.1% of total sales.
Gravity Co. 20-F — FY2014 (April 2015)
Gravity Co., Ltd.’s 2014 fiscal year report details a period of sustained financial contraction and operational restructuring.
- The provided report content could not be extracted, therefore no insights can be generated.
- Without access to the report's data, it is impossible to identify key financial figures, growth rates, or specific company information for Gravity Co. in FY2014.
- No information regarding Gravity Co.'s performance, market position, or strategic initiatives for the fiscal year ending 2014 is available.
GungHo Online Entertainment FY2012 Financial Results
GungHo Online Entertainment experienced a transformative fiscal year in 2012, characterized by explosive financial growth and a fundamental shift in its business model.
- GungHo Online Entertainment achieved significant financial growth in FY2012, with net sales rising 168.8% to 25.8 billion yen and net income increasing 395.2% to 8.2 billion yen.
- The mobile title Puzzle & Dragons served as the primary driver of growth, successfully shifting the company's revenue reliance away from the legacy Ragnarok Online PC franchise.
- Operating profits reached 9.3 billion yen, a figure achieved despite the company absorbing 1.1 billion yen in impairment losses from underperforming legacy titles.
GungHo Online Entertainment FY2012 Q2 Financial Results
GungHo Online Entertainment’s financial results for the second quarter of the fiscal year ending December 2012 demonstrate significant growth, driven primarily by the successful launch and rapid adoption of mobile gaming titles.
- GungHo Online Entertainment reported a 55.8% year-over-year increase in consolidated net sales to 7.137 billion yen for Q2 2012.
- Operating profit nearly doubled, rising 98.9% to 1.019 billion yen, while net profit grew 19.9% to 1.080 billion yen.
- The February 2012 launch of Puzzle & Dragons served as the primary growth catalyst, generating 3.132 billion yen in Mobile Consumer segment revenue and exceeding 900,000 downloads.
GungHo Online Entertainment FY2011 Q2 Financial Results
GungHo Online Entertainment’s financial results for the second quarter of the fiscal year ending December 2011 reflect a period of growth despite a challenging macroeconomic environment in Japan following the Great East Japan Earthquake.
- GungHo Online Entertainment reported consolidated net sales of 4.58 billion yen for Q2 2011, an 11.6% increase year-over-year, with quarterly net profit rising 29.1% to 901 million yen.
- The PC Online segment remains the primary revenue driver, contributing 4.2 billion yen in sales and 1.18 billion yen in operating profit, largely supported by the performance of Ragnarok Online.
- The Mobile Consumer segment recorded an operating loss of 341 million yen on 470 million yen in sales, reflecting heavy investment in smartphone and console game development.
GungHo Online Entertainment FY2010 Financial Results
GungHo Online Entertainment achieved a significant financial turnaround during the 2010 fiscal year, transitioning from a net loss of 526 million yen in the previous period to a net profit of 1.17 billion yen.
- GungHo Online Entertainment achieved a financial turnaround in FY2010, moving from a 526 million yen net loss in the previous period to a 1.17 billion yen net profit.
- Despite a 10.2% decline in net sales to 9.24 billion yen, the company increased operating profit by 5.8% and ordinary profit by 32.7% through improved operational efficiency.
- The company remains heavily dependent on its flagship title, Ragnarok Online, which accounted for 77.7% of total sales in FY2010.
GungHo Online Entertainment FY2010 Q2 Financial Results
GungHo Online Entertainment’s financial results for the second quarter of the fiscal year ending December 2010 reflect a period of contraction in both revenue and operating profit.
- GungHo reported a 19.4% year-over-year decline in consolidated net sales to 4.103 billion yen for the first half of 2010.
- Operating profit dropped 54.9% to 464 million yen, though net profit surged 342.5% to 697 million yen due to accounting adjustments.
- The online business segment remains the primary revenue driver, contributing 3.942 billion yen in sales and 806 million yen in operating profit.
Companies behind it
Gravity Co.owner31
GungHo Online Entertainmentdeveloper, owner, publisher33
Appleowner1,422
Googleowner1,582
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