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First Half 2023/24 Sales: Nacon Financial Results

Nacon reported consolidated sales of €70.8 million for the first half of its 2023/24 financial year, a decline of 8.7 % compared with €77.5 million in the same period a year earlier. Sales fell across all segments: gaming revenue dropped 5.7 % to €44.3 million, catalogue sales fell 9.0 % to €23.1 million, back‑catalogue sales slipped 1.8 % to €21.2 million, and accessories revenue fell 12.7 % to €24.9 million. Mobile and audio sales also contracted by 21.5 %. The first quarter saw a sharper decline (9.3 %) than the second quarter (8.0 %), reflecting a high base from 2022/23 and limited new releases in the latter half of the year. Despite the downturn, Nacon highlighted a rebound in back‑catalogue sales and an upturn in accessories driven by new console installations and strong headset performance, particularly in the United States. The company’s release calendar for the third quarter includes high‑profile titles such as *Astérix & Obelix: Heroes*, *Cricket 24*, and *Robocop: Rogue City*, all of which have generated strong pre‑sales. Upcoming accessories, notably the Revolution 5 Pro controller and RIG 600 PRO headset, are expected to contribute further growth. Nacon maintains its 2023/24 guidance, projecting robust sales and operating income in the second half of the year. The company’s integrated structure—combining 16 development studios, AA publishing, and premium peripheral design—supports its strategy to capitalize on new releases and accessory demand across 100 countries.

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Nacon

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Third Quarter 2024/25 Sales

NACON reported consolidated sales of €52.9 million for the third quarter of its 2024/25 financial year, a decline of 10.3 % from the €59.0 million recorded in the same period last year. Gaming sales fell 23.7 % to €25.4 million, driven by a sharp drop in new‑catalogue releases; catalogue sales dropped 52.9 % to €9.8 million after only one new title, MXGP: The Official Motocross Videogame™. Back‑catalogue sales rebounded 24.5 % to €15.6 million, supporting the company’s strategy of leveraging legacy titles. Accessories sales grew modestly 5.3 % to €25.2 million, buoyed by strong performance of RIG headsets and REVOLUTION 5 PRO controllers in the U.S. and Australia, despite delays of several new accessories slated for 2025. IFRS sales for the first nine months rose 2.5 % to €129.9 million, with gaming down 4.6 % and accessories up 11.1 %. NACON announced a new production plant for gaming accessories in Lauwin‑Planque, France, expected to improve supply chain control and inventory optimisation. The company projects a slight sales increase in the fourth quarter, though operating income may decline due to postponed releases. For 2025/26 first half, NACON anticipates strong growth from new gaming titles, continued back‑catalogue momentum, a busy release schedule, and the launch of Nintendo Switch™ 2 compatible products. The company operates across 100 countries with over 1,000 employees and is part of the Bigben group.

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Nacon

Report

Sales for the 2024/25 Financial Year: Nacon

Nacon reported consolidated sales of €167.9 million for the 2024/25 financial year, essentially flat against the €167.7 million recorded in 2023/24. Quarterly performance varied, with a sharp decline in the first quarter (‑9 %) offset by a 38.5 % rise in the second quarter, followed by declines of 10.3 % and 7.1 % in the third and fourth quarters respectively. Gaming revenue fell by 3.8 % to €97.1 million, while accessories grew modestly by 4.1 % to €65.2 million; the “Other” segment, comprising mobile and audio sales, expanded 38 % to €5.6 million. The fourth‑quarter gaming output was limited to two titles, Rugby25™ and Ambulance Life™, resulting in a 35.8 % drop in new‑game catalogue sales to €9.9 million, compared with four releases and the hit Robocop: Rogue City™ in 2023/24. Back‑catalogue sales, however, surged 46.5 % to €16.1 million in the quarter and 31.2 % for the year, underscoring sustained demand for legacy titles. Accessories sales were constrained by postponed launches of the REVOSIM range and the Xbox Revolution X Unlimited controller, which will debut in 2025/26. Nacon anticipates a sharper growth trajectory for the next fiscal year, driven by an expanded release calendar of over ten new games across sports, racing, adventure and simulation genres, as well as the launch of high‑profile accessories in the first half of 2025/26. Production expansion at a new French controller plant and continued reliance on Vietnamese manufacturing for U.S. inventory are expected to support this outlook.

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Nacon

Report

GREE’s Global Strategy and OpenFeint Acquisition

GREE’s strategy centers on expanding a global social‑gaming network and monetizing through mobile games developed in Japan and internationally, targeting the rapidly growing smartphone market. The company plans to leverage its existing platform business while acquiring and partnering with key global players, notably OpenFeint, to accelerate market penetration. Data from the document show smartphone shipments worldwide rising from 180 million in 2005 to over 700 million by 2013, with smartphone penetration reaching 82 % of total shipments in 2010, underscoring the strategic timing for mobile expansion. OpenFeint, with 75 million users and 5,000 games as of April 2011, offers a robust developer ecosystem and monetization tools such as micro‑transactions and performance‑based advertising. Partnerships with Verizon Wireless, AT&T, and T‑Mobile provide access to 30–32 % of the U.S. carrier market, amplifying user acquisition potential. GREE intends to share platform specifications and co‑develop social features with OpenFeint, aiming to reduce porting costs and boost user engagement across both networks. The acquisition is structured as a triangular merger, with GREE International creating a subsidiary to acquire OpenFeint for approximately $104 million in cash. Financial and legal advisors, including Mitsubishi UFJ Morgan Stanley Securities and Morrison & Foerster LLP, guided valuation and transaction structure. Post‑merger, OpenFeint becomes a wholly owned subsidiary of GREE International, positioning the combined entity to compete for the top spot in global social gaming.

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GREE

Report

Financial Results for the Fourth Quarter of FY2011

GREE, Inc. reported a robust fourth‑quarter performance for the fiscal year ending June 30 2011, driven by rapid user growth and expanding monetization across its global platform. Net sales rose 29 % to ¥21,093 million, while operating profit increased 19 % to ¥9,789 million; both figures represent the largest quarterly gains of FY2011. The company’s consolidated user base reached 123.6 million worldwide, with 26.4 million in Japan and a growing presence in the United States, Europe, China, and other Asian markets. The acquisition of OpenFeint added 50 million users and broadened GREE’s reach in emerging mobile markets. Revenue diversification is evident: paid‑service sales grew to ¥18,387 million, and advertising revenue climbed to ¥3,000 million. The company launched “GREE Market,” a pre‑installed app store on KDDI’s Android platform, and expanded its in‑app billing to web, Android, and iOS. Operating expenses rose 37 % YoY, largely due to increased advertising spend (27 %) and rental fees for data‑center decentralization. Strategic initiatives include standardizing smartphone platform specifications with mig33, partnering with Tencent and SK Telecom, and establishing a Beijing office to support development in China. Forecasts for FY2012 target net sales of ¥90–100 billion, operating profit of ¥40–50 billion, and net income of ¥22–28 billion, reflecting continued emphasis on user acquisition, platform expansion, and diversified revenue streams.

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GREE

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Games from 11 bit studios’ Publishing Portfolio Approaching Release: Q1 2023

11 bit studios’ first‑quarter 2023 financials show a revenue of PLN 14.8 million, EBITDA of PLN 3.0 million and net profit exceeding PLN 2.46 million, slightly below the same period in 2022 but still above internal forecasts. The decline is partly attributed to a high‑base effect from the previous year’s exceptional sales of *This War of Mine* during February–March 2022, when the company donated weekly proceeds to the Ukrainian Red Cross. The current quarter’s profit was also influenced by revenue from the board‑game version of *Frostpunk* and a revaluation gain on an equity stake in Starward Industries, which owns *The Invincible*. Investment in development rose 28.2 % year‑on‑year to PLN 12.14 million, reflecting a strategy of increasing spend on both proprietary and third‑party titles as release dates approach. The publishing pipeline for 2023 includes *The Invincible* and *The Thaumaturge*, developed by Fool’s Theory, with promotional campaigns boosting their Steam wishlist rankings. The company anticipates that these releases will significantly lift 2023 financial results, supported by ongoing monetisation of established titles such as *Frostpunk* and *This War of Mine*. Long‑term growth is expected to hinge on upcoming proprietary projects—*Frostpunk 2*, *The Alters*, and an unnamed “Project 8”—all slated for launch by the end of 2025. The company’s cash cushion and solid Q1 performance underpin its focus on expanding both its own development slate and publishing portfolio across the global video‑game market.

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11 bit studios

Report

Consolidated Financial Results: Six Months Ended September 30, 2020

The six‑month financial results for mixi, Inc., covering April 1 to September 30, 2020, demonstrate a substantial rebound from the prior year. Net sales rose to ¥58,752 million, an increase of 25.4 % over the same period in 2019, while operating income surged to ¥14,050 million, up 257.1 %. Ordinary income attributable to owners of the parent reached ¥13,890 million, a 250.5 % jump, and comprehensive income climbed to ¥10,396 million, reflecting a 427.3 % rise driven largely by gains on investment securities and foreign‑currency translation adjustments. Earnings per share improved markedly, with basic earnings per share rising from ¥28.52 to ¥123.86 and diluted earnings per share from ¥28.34 to ¥122.24. Total assets increased to ¥215,582 million, and net assets grew to ¥187,742 million, maintaining an equity ratio of 86.5 %. Cash and cash equivalents remained stable at ¥141,671 million. The company forecasted full‑year 2021 results of net sales ¥120,000 million and ordinary income ¥19,000 million, indicating continued growth expectations. Dividend policy remained unchanged with a forecast of ¥110 million per year. Geographically, the report focuses on Japan and covers the company’s core segments—Digital Entertainment Business, Sports Business, and Lifestyle Business—with segment profits reflecting significant gains in the Digital Entertainment and Sports divisions. The analysis is based on Japanese GAAP, with no material changes in accounting policies or significant subsidiaries during the period.

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mixi

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Summary of Financial Results for Third Quarter of Fiscal Year Ending December 31, 2015

KLab Inc. reported consolidated financial results for the third quarter of fiscal year 2015 (January 1–September 30, 2015). Revenue increased by 4.0 % to ¥16.57 billion, driven mainly by the release of “BLEACH Brave Souls” and the cinematic launch of “Love Live! The School Idol Movie,” which revitalised in‑game spending after a temporary dip. Operating income rose 20.1 % to ¥2.27 billion, while ordinary income grew 6.6 % to ¥2.13 billion; net income, however, fell 27.6 % to ¥934 million due to higher interest and foreign‑exchange losses, and a significant impairment charge of ¥120.7 million on office assets. Total assets reached ¥13.76 billion, up 1.03 billion yen from the prior year, with net assets increasing to ¥10.07 billion and an equity ratio of 72.8 %. Cash and deposits declined, offset by a rise in securities holdings. Long‑term debt was cut from ¥60 million to ¥30 million, while accounts payable increased. The company forecast full‑year 2015 revenue at ¥21.57 billion, operating income of ¥2.27 billion, ordinary income of ¥2.13 billion, and net income of ¥759 million, reflecting expected advertising spend for the New Year period. No dividend was declared for FY2015. Methodologically, figures are presented under Japanese GAAP, with a consolidated view of all subsidiaries. The report includes detailed segment information, accounting policy changes (notably the adoption of a special trust treatment for employee stock), and notes on tax rate adjustments following 2015 legislation.

market-analysis investment mobile+1

KLab

Report

Notice Concerning Non-Operating Income Recorded for Fourth Quarter FY2016 and Revision of Earnings Forecasts for FY2016

KLab Inc. announced that it will record 460 million yen of non‑operating income from foreign currency exchange gains in the fourth quarter of FY2016, primarily due to re‑valuation of foreign currency assets. This adjustment is expected to reduce the group’s overall foreign currency exchange losses for the full fiscal year to 388 million yen. The company also revised its consolidated earnings forecast for FY2016, reflecting higher revenue and lower operating profit than initially projected. Revenue is now expected at 19,599 million yen versus the previous estimate of 19,290 million yen, an increase of 309 million yen (1.6%). Operating profit is projected at 1,274 million yen compared with the earlier forecast of 1,381 million yen, a decline of 107 million yen (7.7%). Ordinary income is projected at 830 million yen, up from the prior estimate of 523 million yen (58.7% increase). Net income attributable to owners of the parent is now forecast at –814 million yen, a larger loss than the previously projected –655 million yen (a 24.3% worsening). The revisions stem from stronger-than‑expected sales of Love Live! School Idol Festival and Bleach: Brave Souls, higher outsourcing and subcontracting costs linked to joint‑development projects, and losses from the liquidation of a subsidiary and valuation write‑downs on investment securities. The company will release detailed financial results for FY2016 and forecasts for FY2017 on February 10, 2017.

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KLab

Report

Summary of Financial Results for First Half of Fiscal Year Ending December 31, 2018

KLab Inc. reported first‑half fiscal 2018 results that marked a significant revenue surge, driven largely by the successful launch of “Captain Tsubasa: Dream Team.” Consolidated revenue rose 46.3% to ¥15,986 million, while operating income increased 31.7% to ¥2,593 million and profit attributable to owners of parent grew 17.8% to ¥1,714 million. Net income per share climbed from ¥39.65 to ¥46.02, reflecting a 16% rise in earnings. Total assets expanded by ¥324 million to ¥18,934 million, with net assets growing 9.3% to ¥13,777 million and the equity ratio improving from 67.4% to 72.7%. Cash balances fell, whereas software in progress and investment securities rose, indicating a shift toward development and strategic investments. The company maintained its dividend policy at ¥0 per share for the year, with a special dividend of ¥9 issued in February 2018. Forecasts for full fiscal year 2018 present a revenue range of ¥30,000–33,000 million and operating income between ¥2,750–4,250 million, reflecting sensitivity to new title performance. KLab adopted the ASBJ Practical Issues Task Force No. 36 accounting standard for employee stock‑option transactions effective April 2018, and disclosed significant treasury‑stock disposals that increased capital surplus while reducing retained earnings. Geographically, the report covers Japan only, covering the period January 1 to June 30, 2018. The analysis relies on consolidated financial statements prepared under Japanese GAAP, with no external audit of the quarterly summary.

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KLab

Report

Nacon Announces the Temporary Suspension of Trading in its Shares on Euronext Paris

Nacon, a video‑game publishing and peripherals company listed on Euronext Paris (ISIN FR0013482791), announced on 20 February 2026 that it had requested a temporary suspension of trading in its shares. The move follows the company’s majority shareholder, Bigben Interactive (BBI), declaring on 17 February that it could not meet a €43 million partial bond repayment to BBI holders. The liquidity shortfall has forced Nacon to pursue an urgent financial restructuring with creditors, potentially under commercial court supervision. Consequently, the company also suspended its liquidity contract for Nacon shares and will keep trading halted until further notice is issued, likely within the coming days. Nacon’s financial highlights for 2024/25 show revenue of €167.9 million and an operating profit of €1.1 million, reflecting its strategy to consolidate 16 development studios and a premium peripherals division under the Bigben group umbrella. The firm employs over 1,000 staff across 25 subsidiaries and operates a distribution network covering 100 countries. The announcement underscores the immediate impact of BBI’s liquidity crisis on Nacon’s operations and signals a potential restructuring path to preserve business continuity.

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Nacon

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Financial Results for the Second Quarter of FY2019

The second‑quarter fiscal 2019 results show net sales of ¥17.7 billion, operating income of ¥1.0 billion and EBITDA of ¥1.2 billion, aligning closely with forecasts after adjusting for a ¥160 million variable‑cost revision that had been misrecorded in the prior quarter. Operating margin stands at 5.4 %. Variable costs fell to ¥7.27 billion, aided by a ¥400 million reduction in advertising spend and declining commission fees; fixed costs rose by ¥430 million due to increased outsourcing for full‑scale development investment, bringing total costs to ¥16.76 billion. Geographically, the company expanded overseas distribution of its flagship titles—DanMachi and SINoALICE—to Hong Kong, Taiwan, and North America, with another first‑party IP, Another Eden, slated for global self‑distribution. Multi‑platform releases included Fishing Star on Nintendo Switch and a new VTuber livestreaming app, REALITY Avatar. The company’s strategy emphasizes nurturing first‑party IPs to improve long‑term profitability, while maintaining third‑party titles and leveraging self‑distribution where possible. For the third quarter, net sales are projected between ¥16.5 and ¥17.5 billion with operating income ranging from ¥300 to ¥800 million, reflecting continued investment in new titles and the expected impact of overseas expansion. The balance sheet remains solid, with fixed assets at ¥17 billion and investment securities valued at approximately ¥25 billion, including venture‑capital holdings. Overall, the company maintains confidence in its financial base while pursuing aggressive international growth and IP development.

market-analysis game-publishing mobile+2

GREE

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Summary of Main Q&A: FY2018 Second Quarter GREE Results Briefing

The briefing clarified GREE’s strategic shift toward console gaming while maintaining its mobile‑centric foundation. The company announced that “Fishing Star,” its first Nintendo Switch title, will be sold as a single‑purchase download without in‑game microtransactions, leveraging the console’s unique features to deliver a classic fishing experience. GREE emphasized its intent to build a multiplatform, multiregional development system that supports both mobile and console releases for Japanese and overseas markets, aiming to broaden its audience base. Progress on international titles was described as steady, with ongoing partner selection for overseas distribution of games such as “Is It Wrong to Try to Pick Up Girls in a Dungeon: Memoria Freeze.” Exact launch dates remain undetermined as the company evaluates optimal release strategies. GREE also addressed concerns about a slowed release cadence, noting that while operational focus on existing hits remains strong, the company continues to pursue new projects, as illustrated by its development pipeline figures. Regarding monetization models, GREE stated that decisions on free‑to‑play console titles with in‑game purchases will be made on a case‑by‑case basis, reflecting each title’s characteristics. Cost control is highlighted by the company’s avoidance of large‑scale first‑time console projects, thereby limiting development expenses. Advertising and media investments are maintained at a consistent level across the first two quarters, with future spending tied to expected returns. Operational improvements were cited for key mobile titles, such as the addition of new scenarios in “Another Eden: The Cat Who Goes Beyond Time,” demonstrating a system that enables rapid content deployment to meet customer demand.

market-analysis game-publishing monetization+2

GREE

Report

Financial Highlights: 1st Half of FY2013

Financial highlights for the first half of fiscal year 2012 (ending March 2013) show a modest increase in consolidated net sales of 0.7 % to ¥13,724 million compared with the same period in FY2011, while full‑year sales for FY2012 were forecast at ¥39 000 million, up 9.8 % from FY2011. Gross profit rose 1.8 % to ¥4,254 million, and operating income surged 26.0 % to ¥897 million, reflecting a strong rebound in the Game Software and Pachislot & Pachinko segments. Income before taxes increased 41.1 % to ¥1,225 million, and net income grew 34.5 % to ¥554 million, both well above the 7.7 % forecasted growth. Segment analysis reveals that Game Software sales declined slightly by 1.0 % to ¥8,820 million but operating income from this segment jumped 69.1 % to ¥869 million, driven by higher gross margins. Online & Mobile sales fell 16.6 % to ¥2,365 million; operating income from this segment dropped 52.9 % to ¥247 million, partly due to the relocation of CWS Brains from Amusement Facilities to Online & Mobile in FY2011. Media & Rights sales increased 21.4 % to ¥618 million, with operating income turning positive at ¥157 million after a loss of ¥191 million the previous year. Pachislot & Pachinko sales rose 98.9 % to ¥1,120 million, with operating income up 71.8 %. Amusement Facilities and Other segments showed modest growth in sales (6.1 % and –5.2 %, respectively) but maintained stable operating income. The data cover the Japanese market, covering all business segments of Tecmo Koei Holdings. Figures are presented in millions of yen and compare FY2010, FY2011, and FY2012 results with forecasts for the full year. The report relies on consolidated financial statements prepared under Japanese GAAP, providing a comprehensive view of the company’s performance during the first half of FY2012.

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Koei Tecmo

Report

Financial Highlights: Q1 FY2014

Financial highlights for the first quarter of fiscal year 2014 demonstrate a robust performance across KOEI TECMO HOLDINGS’ diversified portfolio. Net sales reached ¥37,576 million, a 2.8% decline from the prior year’s full‑year figure but aligned with the forecasted ¥38,000 million. Gross profit fell 9.1% to ¥16,150 million, while operating income surged 959.1% to ¥7,140 million, reflecting a sharp rise in profitability from the core gaming segment. Income before taxes climbed 27.4% to ¥10,691 million, and net income increased 45.0% to ¥6,936 million, approaching the forecasted ¥7,000 million. Segment analysis shows Game Software sales of ¥25,441 million, down 14.4% YoY but near forecasted levels; Online & Mobile sales rose 18.4% to ¥6,423 million, surpassing the projected ¥7,000 million by 9.0%. Media & Rights and Pachislot & Pachinko segments posted significant gains of 68.1% and 18.4%, respectively, while Amusement Facilities declined 8.3%. Operating income mirrored these trends: Game Software contributed ¥6,017 million (−33.1% YoY), Online & Mobile added ¥1,073 million (+71.9%), and Media & Rights turned a profit of ¥202 million after a prior loss. Balance‑sheet data as of June 30, 2014 show total assets at ¥93,826 million, down from ¥100,622 million the previous year, largely due to a reduction in current assets and a modest decline in fixed assets. Current liabilities fell sharply from ¥10,122 million to ¥4,421 million, improving liquidity. Shareholders’ equity remained strong at ¥84,433 million, with retained earnings slightly lower than the prior year. Overall, the quarter reflects a strategic shift toward higher‑margin online and mobile offerings while maintaining solid financial health.

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Koei Tecmo

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Summary of Financial Results for First Half of Fiscal Year Ending December 31, 2018

Nacon Announces the Temporary Suspension of Trading in its Shares on Euronext Paris

Financial Results for the Second Quarter of FY2019

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