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Financial Results for the Fiscal Year Ended March 31, 2025: Mitsubishi HC Capital Inc.

Financial Results for the Fiscal Year Ended March 31, 2025 Greetings, everyone. This is Taiju Hisai, President & CEO. Thank you for taking time out of your busy schedules to attend our financial results briefing today. In addition to those gathered here at the briefing venue, we are also joined by many people watching live online. I would like to begin today’s briefing by explaining the highlights of the Financial Results for the Fiscal Year Ended March 31, 2025, which we announced yesterday.

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Mitsubishi HC Capital

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2025 Interim Report

Incorporated in the Cayman Islands with limited liability smart communication inspires 2025 E Interim Report 33 Financial Performance Highlights Financial Performance Highlights 88 Management Discussion and Analysis 22 Report on Review of Interim Financial Information 23 Condensed Consolidated Income Statement 24 Condensed Consolidated Statement of Comprehensive Income 24 Condensed Consolidated Statement of Comprehensive Income 25 Condensed Consolidated S...

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Tencent

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Notice Regarding Variance in Performance Forecast

The notice informs shareholders that the second‑quarter cumulative performance for fiscal year 2028 (April 1 – September 30, 2027) differs from the previously issued forecast for fiscal year 2027. For the consolidated entity, revenue fell by ¥152 million (10.9 %) to ¥1,244 million, operating profit dropped by ¥58 million, while net income attributable to parent shareholders rose by ¥13 million due to a stronger yen‑depreciation effect. The individual subsidiary’s revenue declined by ¥65 million (15.3 %) to ¥363 million, with a modest increase in net profit of ¥4 yen per share. The primary causes cited are lower domestic sales volumes for newly released titles and a weaker yen that boosted foreign‑currency gains. Operating profit was impacted mainly by the sales shortfall, whereas ordinary and net profits benefited from favorable exchange movements. The company maintains its full‑year 2028 outlook unchanged, projecting consolidated revenue of ¥4,774 million (9.9 % decline YoY), operating profit of ¥81 million (up from a prior loss of ¥274 million), ordinary profit of ¥154 million, and parent‑shareholder net income of ¥31 million. For the individual entity, revenue is expected at ¥1,081 million (23.8 % decline), ordinary profit of –¥118 million, and net income of –¥121 million. The forecast reflects current information as of the notice date, with a disclaimer that future results may vary.

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Nippon Ichi Software

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Semi-Annual Report: 33rd Term

The semi‑annual report for the 33rd term presents Nippon Ichi Software’s financial and operational performance during the period from April 1 to September 30, 2025. The company’s consolidated revenue fell 49.2 % to ¥1,244 million, while operating loss widened to ¥322 million, reflecting a decline in both package and download sales across its entertainment segment. Net loss attributable to parent shareholders increased to ¥225 million, and the company’s equity ratio dropped from 71.4 % to 67.2 %. Cash‑flow analysis shows negative operating cash of ¥306 million, large investment outflows of ¥1.48 billion—primarily from fixed‑asset purchases—and modest financing inflows of ¥290 million, leaving cash balances at ¥3.65 billion. Segment analysis indicates the entertainment business suffered a loss of ¥96 million, while the student‑housing and ancillary segment posted a smaller loss of ¥8 million but achieved a 25.1 % revenue increase to ¥60 million. Asset‑side, total assets rose by ¥49 million mainly through cash and securities gains; liabilities increased by ¥283 million, driven by higher short‑term borrowing. Equity declined by ¥234 million due to profit erosion. The report follows Japanese GAAP under the Consolidated Financial Statements Regulations, with a mid‑year audit by Tokai Accounting Co. The company’s share structure remains unchanged, with 5.15 million shares outstanding and a dominant shareholder holding 46.3 %. No material risks or post‑report events were disclosed, and the audit opinion confirmed that the financial statements fairly present the company’s position.

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Nippon Ichi Software

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Summary of Consolidated Financial Results: Nine Months Ended December 31, 2022

The nine‑month period ending December 31, 2022 saw a decline in KOEI TECMO HOLDINGS’ consolidated performance. Net sales fell 10.6 % to ¥49,439 million from ¥55,327 million in the prior year, while operating profit dropped 15.2 % to ¥22,994 million and ordinary profit fell 56.5 % to ¥16,880 million. Profit attributable to owners of the parent company decreased 52.4 % to ¥13,477 million, and earnings per share fell from ¥85.10 to ¥42.78 (diluted ¥84.47 to ¥39.22). The company’s equity ratio contracted from 64.0 % at year‑end to 62.6 % in March, and net assets per share declined from ¥437.16 to ¥384.30. Cash dividends were not declared for the first two quarters of fiscal 2023; a forecast dividend of ¥48.00 per share is planned for the third quarter and year‑end. The full‑year forecast projects net sales of ¥77,000 million (up 5.8 %) but operating profit of ¥34,000 million (down 1.5 %), ordinary profit of ¥31,000 million (down 36.3 %) and attributable profit of ¥23,500 million (down 33.5 %). Financial position data show total assets reduced from ¥219,803 million to ¥189,092 million, largely due to lower current assets and a modest decline in property, plant and equipment. Current liabilities fell from ¥32,616 million to ¥19,056 million, while net assets decreased from ¥138,101 million to ¥121,637 million. The company’s share count remained stable at 336,096,924 issued shares with a slight reduction in treasury holdings. The report is based on Japanese GAAP and includes no changes to significant subsidiaries or accounting policies, except for standard revisions. The consolidated statements cover the entire Japanese market and reflect performance over a nine‑month fiscal period ending December 31, 2022.

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Koei Tecmo

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FY2025 First Quarter Financial Results Briefing

The briefing presents FY2025 first‑quarter results for GREE, Inc., highlighting a net sales figure of ¥12.9 billion and an operating loss of ¥0.1 billion, largely driven by valuation losses in the Investment Business and foreign‑exchange impacts from yen appreciation. While Game and Anime, Metaverse, and DX segments exceeded forecasts—thanks to strong performance of the Chinese version of *Heaven Burns Red*, continued growth in platform and VTuber services, and solid DX profitability—the Investment Business posted a ¥0.8 billion operating loss due to crypto‑asset valuation declines and write‑downs on maturing funds. Variable costs rose from advertising spend and investment losses, whereas fixed costs remained relatively stable. Geographically, the company operates globally with significant overseas assets; the report notes a ¥1.4 billion FX loss affecting ordinary and net profit. The management plan positions Metaverse and DX as continuous‑growth businesses targeting a 120–140 % CAGR in operating profit, while Game and Anime are treated as long‑term investment assets. Medium‑term targets emphasize aggressive investment in VTuber talent and DX product development, with expectations of profitability from the VTuber segment by FY2026 and accelerated growth in DX by FY2027. Methodologically, the briefing relies on quarterly financial statements, segment‑level performance data, and investment portfolio valuations. The Investment Business’s dual GP/LP structure is explained to contextualize volatility, with an emphasis on long‑term stability despite short‑term losses. Overall, the company projects FY2025 results in line with prior forecasts but anticipates slightly lower Game and Anime sales, offset by higher operating profit from continuous‑growth segments.

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GREE

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FY2023 Third Quarter Financial Results Briefing

GREE, Inc. reported FY2023 third‑quarter results with net sales of ¥22.2 billion, operating income of ¥4.2 billion and EBITDA of ¥4.3 billion, exceeding forecasts in both the Internet & Entertainment and Investment & Incubation segments. The Internet & Entertainment Business generated ¥1.8 billion in operating income, driven by the game Heaven Burns Red, which achieved No. 1 App Store sales rankings during its one‑year anniversary event and began successful global distribution in Korea, Taiwan, and Hong Kong. Promotional spending of approximately ¥3 billion increased variable costs but supported medium‑term growth, while fixed costs remained stable. The Investment & Incubation Business contributed ¥2.4 billion, largely from dividends and distributions of venture‑capital funds, though total assets under management fell by ¥4.0 billion due to earnings payouts. Operating income outlook for FY23 remains unchanged; the fourth quarter is projected to deliver roughly ¥1.5 billion from Internet & Entertainment and ¥0.5 billion from Investment & Incubation, totaling about ¥2.0 billion. Dividend policy targets a 20 % payout ratio, with an announced dividend of ¥11 per share. Strategic initiatives included the launch of REALITY Studios Inc. and FIRST STAGE PRODUCTION for VTuber talent, and REALITY XR Cloud for B2B metaverse services, achieving 42 million annual visitor traffic. Commerce and DX businesses continued to expand through travel media aumo and collaborations with automotive and media partners. Overall, GREE’s three‑pillar earnings strategy—Game, Metaverse, and Investment—remains focused on sustained growth through global distribution, content diversification, and high‑quality venture investments.

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GREE

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Consolidated Financial Results: Six Months Ended September 30, 2024

The six‑month financial results for Koei Tecmo Holdings, covering April 1 to September 30, 2024, show a decline in key performance metrics compared with the same period in 2023. Net sales fell by 11.4 % to ¥35,197 million from ¥39,722 million, while operating profit dropped 23.1 % to ¥10,651 million and ordinary profit decreased 9.5 % to ¥21,000 million. Profit attributable to owners of the parent company fell 4.9 % to ¥15,975 million. Earnings per share also slipped, with basic earnings at ¥50.58 and diluted earnings at ¥47.09 versus ¥53.24 and ¥49.55 in 2023. Total assets contracted slightly from ¥245,802 million to ¥241,584 million, and net assets declined to ¥171,611 million, reflecting a lower capital adequacy ratio of 70.7 %. Cash and deposits rose markedly to ¥41,733 million, driven by a substantial increase in short‑term borrowings of ¥9,000 million. Investment securities and other assets decreased modestly. Dividend policy remained unchanged; no dividends were declared for the fiscal year ending March 31, 2024, and a forecast of ¥48.00 per share is projected for the fiscal year ending March 31, 2025. The company’s forecasted full‑year net sales for FY 2025 are ¥90,000 million, with operating profit expected at ¥30,000 million and ordinary profit at ¥40,000 million. The report covers Japan‑based operations under Japanese GAAP for the first half of FY 2025, with no significant changes in consolidation scope or accounting policies. The semi‑annual statements are exempt from external audit review.

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Koei Tecmo

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1st Half Financial Results: FY 2011

The first‑half financial results for the fiscal year ending March 2011 show a sharp decline in revenue and profitability compared with the same period in 2009. Net sales fell from ¥15,264 million to ¥11,069 million, a 27.5 % drop, while operating loss widened from ¥641 million to ¥1,656 million. Ordinary profit and net income also deteriorated, with ordinary loss increasing from ¥349 million to ¥1,097 million and net loss rising from ¥415 million to ¥571 million. The decline is largely attributed to a one‑time goodwill amortization expense of approximately ¥510 million incurred after the merger with Koei and acquisition of Koei Net Co., Ltd. The company’s operating segments reflected uneven performance: Game sales dropped by 16 % to ¥6,330 million, while Online and Media segments saw modest gains. Regional sales remained concentrated in Japan (85.5 %) with overseas sales accounting for 14.5 % of total revenue. The consolidated plan for FY 2010 projects a modest 0.0 % change in total sales to ¥34,500 million, with operating profit expected to rise from a loss of ¥641 million in FY 2009 to a gain of ¥4,000 million. Ordinary profit and net income are projected to improve by 13.0 % and 7.8 %, respectively, largely driven by a projected operating profit of ¥4,000 million in the Game segment. The plan also outlines significant capital expenditures (¥1,685 million) and a shift in marketing focus toward overseas markets and social gaming. Methodologically, the report relies on consolidated financial statements for the first half of FY 2010 and comparative figures from FY 2009, with adjustments noted for goodwill amortization. The document also includes strategic initiatives such as the launch of social games based on popular IPs, expansion into mobile and PC platforms, and the establishment of a Global Marketing Department to strengthen overseas presence.

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Koei Tecmo

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Consolidated Financial Results for the Nine Months Ended December 31, 2019

The consolidated financial results for mixi, Inc. cover the nine‑month period from April 1 to December 31 2019 and provide a forecast for the fiscal year ending March 31 2020. Net sales fell 31.7 % to ¥72,364 million from ¥105,983 million in the same period a year earlier, reflecting a sharp decline in revenue from core entertainment and lifestyle segments. Operating income collapsed 88.6 % to ¥3,076 million, and ordinary income dropped 88.5 % to ¥3,092 million, resulting in a profit attributable to owners of only ¥426 million versus ¥17,101 million previously. Comprehensive income for the nine months was ¥257 million, a 98.5 % reduction from ¥17,462 million in 2018. Total assets increased modestly to ¥194,531 million, while net equity fell to ¥171,140 million, yielding an equity ratio of 87.4 %. Cash and cash equivalents declined from ¥144,417 million to ¥123,894 million, driven by operating cash outflows and significant investment in new acquisitions. The company’s dividend policy remained unchanged, with a forecast of ¥55 million per share for the 2020 fiscal year. Methodologically, the report follows Japanese GAAP and includes a detailed segment analysis of entertainment and lifestyle operations. No changes in accounting policies or significant subsidiaries occurred during the period, and the forecast reflects management’s judgment under current market conditions. The document is intended for Tokyo Stock Exchange investors and analysts, with a scheduled conference call on February 7 2020.

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mixi

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Financial Results Briefing Session of Fiscal Year Ended December 31, 2025 [17,284KB]

GungHo Online Entertainment’s FY 2025 financial briefing outlines a strategic pivot from Japan‑centric mobile development toward global expansion, emphasizing action titles on consoles and PCs. The company reports a 64.1 % overseas net‑sales ratio in FY 2025, up from 47.7 % in 2019 and 56.2 % in 2020, reflecting intensified sales in North America and Europe through new releases such as “Let It Die: Inferno” on PlayStation 5, Steam, and Nintendo Switch. The launch of nine global titles in 2025, including the “Ragnarok” series and “Puzzle & Dragons,” is highlighted as a key growth driver, with the latter celebrating its 5 000‑day anniversary and hosting cross‑platform events to boost user activity. Financially, consolidated net sales fell by 1.3 % YoY to ¥125.3 billion, driven mainly by declines in mobile titles and “Ragnarok”‑related revenue under subsidiary Gravity. Operating profit contracted by 9.3 % YoY to ¥276 million, as SG&A expenses rose due to increased advertising spend and personnel costs following the full acquisition of Alim in December 2024. Non‑consolidated results remained flat, but mobile sales slipped and Gravity’s “Ragnarok” titles underperformed, contributing to the consolidated loss. The briefing covers a global geographic scope—North America, Europe, Latin America, and Asia—with a 2025 focus on launching titles in over 150 countries. Methodologically, data derive from consolidated financial statements and quarterly performance metrics, with a clear emphasis on aligning product development with international market demand.

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GungHo Online Entertainment

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Financial Results for the Third Quarter of the Fiscal Year Ending March 2023

The quarterly financial release for the third quarter of fiscal 2023 presents a comprehensive overview of KOEI TECMO HOLDINGS’ performance, highlighting a decline in sales and profitability relative to the prior year. Total sales fell by 10.6 % from ¥49,439 million to ¥55,327 million, driven primarily by a 31.8 % drop in console package revenue and an 11.6 % decline in entertainment segment sales. Operating profit contracted by 15.2 %, from ¥27,127 million to ¥22,994 million, while ordinary and net profits fell 56.5 % and 52.4 %, respectively, reflecting the impact of a significant loss on derivative valuations amid volatile financial conditions. Geographically, Japan contributed 49.9 % of sales in FY22, down 7.6 % from the previous year, whereas overseas sales declined 13.6 %. North America and Europe experienced sharper contractions of 25.3 % and 29.7 %, respectively, while Asia’s share fell modestly by 7.0 %. Unit sales increased slightly overall (4.9 % YoY), with digital download units rising 11.7 %, indicating a shift toward digital distribution. The company’s strategic focus for the fourth quarter includes releases such as “WILD HEARTS,” “Wo Long: Fallen Dynasty,” and “FATAL FRAME: Mask of the Lunar Eclipse.” Staffing expanded by 15.7 % to 2,400 employees, and headcount growth was supported by the addition of a Vietnam subsidiary. Despite upward revisions to operating profit forecasts, the report underscores ongoing risks from market volatility and derivative exposure. Overall, the document conveys a cautious outlook, noting that while digital sales have gained share, traditional packaged game revenue remains under pressure, necessitating continued portfolio adjustments and cost management.

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Koei Tecmo

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Earnings Results: Q3 Fiscal Year Ending March 2026

1. 2026 年3 月期第 3四半期連結実績サマリ P3 2. 2026 年3 月期第 3四半期連結実績（セグメント別） P10 3. Appendix P19 Q12 20263ThDuloos①#H3-A? A 2025年3月期 2026年3月期前年同期比 2025年3月期 2026年3月期前年同期比 (単位：百万円) 4-12月実績 4-12月実績（増減額） 10-12月実績 10-12月実績（増減額）売上高 206,587 202,991 ▲1.7% 70,267 69,058 ▲1.7% Q12 (▲3,595) (▲1,208) ③ ▲59.7% ...

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Kadokawa Corporation

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FY2025 Second Quarter Financial Results Briefing

The briefing presents FY2025 second‑quarter financial results for GREE Holdings, emphasizing a revised disclosure structure that separates the Investment Business from the other three operating segments—Game and Anime, Metaverse, and DX. Consolidated net sales reached ¥15.6 billion with operating profit of ¥2.2 billion, both up QoQ and YoY, driven by foreign‑exchange gains and strong dividend income from investment funds. On a three‑segment basis, net sales were ¥13.7 billion and operating profit ¥1.2 billion, surpassing prior forecasts. Segment performance highlights include a record‑high ¥2.1 billion in Metaverse sales, driven by avatar and live‑streaming revenue; Game and Anime sales rose QoQ thanks to anniversary events for flagship titles, though YoY growth slowed; DX Business maintained forecasted sales of ¥1.8 billion, with a shift toward recurring SaaS and consulting services. The Investment Business posted significant gains from fund dividends, offsetting a prior quarter loss; portfolio valuation climbed to ¥36.3 billion with IRR outperforming VC benchmarks. Management reiterated medium‑term targets: FY2027 sales of ¥17.9 billion and operating profit of ¥3.3 billion, with continued investment in Metaverse, DX recurring models, and diversified fund sourcing. The briefing covered 2025 full‑year forecasts—sales of ¥8.7 billion and operating profit of ¥500 million for Metaverse, ¥7.3 billion and ¥800 million for DX—reflecting modest sales adjustments but confidence in margin improvement. Overall, the presentation underscores robust quarterly growth across core segments and a strategic pivot toward higher‑margin recurring revenue streams.

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GREE

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Summary of Main Supplementary Explanations Questions and Answers: FY2024 Third Quarter Results Briefing

The briefing clarified that the FY2024 third‑quarter earnings improvement in GREE’s Game and Anime Business stemmed from two primary initiatives: a more efficient promotional strategy following the second anniversary of “Heaven Burns Red,” and a comprehensive reorganization that reassigned staff to higher‑margin projects. The company emphasized multiplatformization as a strategic priority, noting active preparations for console game development to capture broader market segments. In the VTuber segment, planned investments focus on expanding management capacity in line with a growing talent roster and enhancing live‑event production, merchandise marketing, and fan engagement metrics such as concurrent viewer counts. While these initiatives are expected to drive near‑term sales, the company views sustained growth as contingent on deepening fan base loyalty. Financial outlooks presented exclude investment business figures. Consolidated operating income for the fourth quarter is projected at approximately ¥1.5 billion, and full‑year FY2024 earnings are estimated between ¥5–6 billion. These targets reflect the company’s confidence in its streamlined operations and strategic expansion across gaming, anime, and VTuber platforms.

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GREE

Financial Results for the Fiscal Year Ended March 31, 2025: Mitsubishi HC Capital Inc.

2025 Interim Report

Notice Regarding Variance in Performance Forecast

Semi-Annual Report: 33rd Term

Summary of Consolidated Financial Results: Nine Months Ended December 31, 2022

FY2025 First Quarter Financial Results Briefing

FY2023 Third Quarter Financial Results Briefing

Consolidated Financial Results: Six Months Ended September 30, 2024

1st Half Financial Results: FY 2011

Fiscal Year Ending March 2012: 1st Half Financial Results

Consolidated Financial Results for the Nine Months Ended December 31, 2019

FY2026 1Q Financial Results Briefing Material: Japan

Partial Correction to FY2022 Consolidated Financial Results: Japan

Summary of Financial Results for Fiscal Year Ended December 31, 2025: Japan

Financial Results Briefing Session of Fiscal Year Ended December 31, 2025 [17,284KB]

Financial Results for the Third Quarter of the Fiscal Year Ending March 2023

Earnings Results: Q3 Fiscal Year Ending March 2026

FY2025 Second Quarter Financial Results Briefing

Summary of Main Supplementary Explanations Questions and Answers: FY2024 Third Quarter Results Briefing

Annual Report and Consolidated Financial Statements 2023