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Partial Correction to FY2024 Consolidated Financial Results: Japan

Representative Director, CEO, and President (Corrections / Corrections of Numerical Data) Partial Correction to FY2024 Consolidated Financial CyberAgent, Inc. today announced a correction to part of the "FY2024 Consolidated Financial Results [Japanese GAAP]," which was disclosed on October 30, 2024. The details of the correction are as follows.

investment market-analysis japan

CyberAgent

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2Q FY2022 Presentation Material: January to March 2022

2Q FY2022 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results <sub>(January </sub>- March 2022) 3. Internet Advertisement Business 6. Medium to long-term strategy FY2022 All three main businesses performed strongly.

market-analysis game-publishing streaming+1

CyberAgent

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3Q FY2022 Presentation Material: Japan

3Q FY2022 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (April - June 2022) 3. Internet Advertisement Business 6. Medium to long-term strategy FY2022 Game sales declined from the peak made by the title released last year.

market-analysis advertising game-publishing+2

CyberAgent

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Annual Report 2014

Α Ν Ν U Α L R Ε Ρ Ο R Τ 2014 Τhe ΒΑΝDΑΙ ΝΑΜCΟ Grοup develοps entertainment-related prοducts and services in a wide range οf fields, including tοys, arcade game machines, hοme videο game sοftware, visual cοntent, netwοrk cοntent, and amusement facilities. Ιn accοrdance with οur Μid-term Ρlan, which includes the visiοn οf “Εmpοwer, Gain Μοmentum, Αccelerate Εvοlutiοn,” we are aiming tο be Νο. 1 with strοng cοnvictiοn.

market-analysis game-publishing global+3

Bandai Namco

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Raport Bieżący Nr 41/2021: Informacja o Transakcjach Wykonywanych przez Osoby Pełniące Obowiązki Zarządcze

The report, dated 30 August 2021, informs the public that PCF Group S.A. has received a notification concerning an amendment to a prior disclosure made on 18 August 2021. The original notice detailed the acquisition of company shares by a person exercising managerial duties, specifically the Chairman of the Board. The amendment, communicated on 30 August, updates or corrects information related to that transaction. The report references Article 19(3) of the MAR regulation as its legal basis, indicating compliance with market‑authorisation rules for material disclosures. No additional data such as share quantity, price, or transaction value are provided within the brief; instead, the full amended notification is attached as an annex. The scope of the disclosure is limited to a single corporate entity, PCF Group S.A., and pertains solely to an internal shareholding change by a senior executive. The methodology is straightforward: the company reports changes in accordance with regulatory requirements, submitting the amended notice to the relevant supervisory authority and making it publicly available. The concise nature of the report reflects a routine update rather than an analytical study, focusing on transparency and regulatory compliance for stakeholders.

investment europe

PCF Group

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Summary of Consolidated Financial Results: Six Months Ended September 30, 2022

The six‑month financial results for Koei Tecmo Holdings, covering April 1 to September 30, 2022, show a decline in key performance metrics compared with the same period in 2021. Net sales fell by 6.6 % to ¥34,762 million from ¥37,220 million, while operating profit decreased 11.6 % to ¥18,321 million from ¥16,423 million. Ordinary profit and profit attributable to the parent dropped 29.5 % and 24.8 %, respectively, reaching ¥13,648 million versus ¥25,064 million in 2021. Earnings per share also contracted, with diluted EPS falling from ¥54.38 to ¥40.15. Balance‑sheet analysis indicates a modest contraction in total assets, from ¥219,803 million at March 31 to ¥206,489 million at September 30, and a decline in net assets from ¥138,101 million to ¥125,924 million. The equity ratio slipped slightly from 62.6 % to 60.7 %. Cash and deposits rose, while current liabilities remained relatively stable. The company forecasts full‑year 2023 results to show net sales of ¥77,000 million (5.8 % increase year‑on‑year) but operating profit of ¥32,500 million (5.9 % decrease). Ordinary profit is projected at ¥42,500 million, a 12.7 % decline, with comprehensive income expected at ¥31,500 million (10.9 % drop). Dividend policy remains unchanged with no interim dividends declared for the first two quarters of 2023. Methodologically, figures are prepared under Japanese GAAP with no significant changes in subsidiaries or accounting policies during the period. The report covers the entire Japanese market, focusing on Koei Tecmo’s consolidated operations across its gaming and related entertainment segments.

market-analysis investment japan

Koei Tecmo

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Financial Results for the First Quarter: Fiscal Year Ending March 2026

Koei Tecmo Holdings reported first‑quarter results for the fiscal year ending March 2026, showing a 15.9 % decline in sales to ¥17.6 billion and a 55.5 % drop in net profit to ¥13.6 billion compared with the same period a year earlier. Operating profit fell 37.6 % to ¥5.7 billion, while ordinary profit decreased 53.1 % to ¥18.7 billion. The decline is attributed mainly to weaker performance in the online and mobile entertainment segment, where sales dropped ¥2.8 billion; personnel costs rose, but variable costs fell due to lower sales volumes. Segment analysis reveals the entertainment division contributed ¥16.6 billion in sales, down 18 % from year‑ago, with operating profit falling ¥2.0 billion. The amusement segment benefited from licensing income and new facility openings, adding ¥297 million in sales and ¥88 million in operating profit. Real‑estate revenue rose modestly from the KT Zepp Yokohama venue, while the “Others” segment recorded a loss of ¥310 million. Forecasts for FY25 project sales growth to ¥92.0 billion, an increase of 10.6 % from FY24, with operating profit expected at ¥31.0 billion (‑3.5 % from FY24). Net profit is projected at ¥27.0 billion, a 28.2 % decline from FY24, reflecting higher development and personnel costs anticipated in the second half of the year. Dividend per share is forecast at ¥43, down 28 % from FY24. The company maintains a Tokyo Stock Exchange Prime Market listing strategy, targeting a 35 % tradable‑share ratio by March 2026. Growth investment plans focus on human capital, with a projected 10 % annual increase in personnel costs and ¥25 billion allocated for new office space. M&A activity remains opportunistic, centered on intellectual‑property synergies. Geographically, the firm prioritizes expansion in North America, Europe, and China for console/PC titles, while online/mobile growth targets Japan, China, and surrounding regions with a long‑term global outlook. The pipeline for the fourth medium‑term management plan includes several major releases, such as “NIOH 3” and “NOBUNAGA’S AMBITION: Awakening Complete Edition,” slated for early 2025 and mid‑2025 respectively.

market-analysis investment japan+1

Koei Tecmo

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FY2020 2Q Financial Results Presentation

The presentation reports GREE Inc.’s second‑quarter 2020 financial performance, highlighting a net sales figure of ¥16.4 billion and operating income of ¥0.8 billion, surpassing forecasts. EBITDA reached ¥1.1 billion, while net income climbed to ¥2.6 billion largely due to a ¥3.0 billion gain from the sale of investment securities. Year‑over‑year and quarter‑on‑quarter profit growth is emphasized, with operating income projected for the third quarter between ¥0.5 billion and just under ¥1.0 billion. Key business drivers include the successful launch of a third‑party distributed title in November, which boosted net sales and coin consumption. The first‑party IP “Another Eden” expanded overseas sales, achieving a 2.7‑fold increase from November to December across the United States, Europe, and Asia, supported by intensified global marketing. The live‑entertainment platform REALITY continues to grow, introducing low‑latency mode and partnering with Cluster Inc. for integrated avatar functionality. Operationally, variable costs rose due to higher commission and advertising expenses, while fixed costs remained stable except for a one‑time depreciation increase from office relocations. The investment securities portfolio maintained a book value of ¥19 billion against an assessed value of ¥36 billion, confirming strong performance. Strategically, GREE plans to release one additional title in FY20 and 4–6 new titles for FY21 onward, including collaborations with Visual Arts (Heaven Burns Red) and SYMPHOGEAR (Assault Lily: Last Bullet). Existing titles such as SINoALICE, DanMachi, SYMPHOGEAR, and Shoumetsu Toshi continue to receive fan‑community engagement campaigns. The company’s advertising and media initiatives aim to broaden user acquisition through targeted partnerships and campaigns.

market-analysis game-publishing marketing+5

GREE

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Current Report No. 39/2021: Information on Transactions by Persons Discharging Managerial Responsibilities

The report, dated 18 August 2021, informs the public that PCF Group S.A. received a notification concerning the acquisition of company shares by an individual exercising managerial duties, specifically the Chairman of the Board. The disclosure is made under Article 19(3) of the MAR regulation, which requires timely reporting of such transactions. The notification itself is attached to the current report as an annex, providing details of the transaction such as the number of shares acquired, purchase price, and date of acquisition. No additional transactions or related parties are mentioned, indicating that this is the sole managerial share purchase reported for the period. The scope of the disclosure covers only PCF Group S.A., a Polish listed company, and pertains to the reporting period ending on 18 August 2021. The methodology follows regulatory requirements: the board submits the notification to the relevant authority, which then publishes it in a current report format. The concise nature of the disclosure reflects compliance with transparency obligations, ensuring investors are promptly informed about insider trading activity within the company.

investment mergers-acquisitions

PCF Group

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Financial Results for the First Quarter of Fiscal Year Ending March 2025

The quarterly financial release presents KOEI TECMO HOLDINGS’ first‑quarter fiscal 2025 results, showing a modest decline in consolidated sales to ¥17.6 billion from ¥18.3 billion, a 3.8 % year‑over‑year drop driven mainly by reduced console and online/mobile sales. Operating profit fell ¥1.8 billion to ¥5.7 billion, a 23.8 % decline, while ordinary and net profits rose to ¥18.7 billion and ¥13.6 billion, respectively, reflecting higher operating leverage and lower tax rates. Segment analysis indicates the entertainment division—encompassing console, download, DLC, and mobile titles—experienced a 3.1 % sales decline, with physical console units down 7.4 % and digital download units falling 5.9 percentage points. The amusement segment’s consignment sales dropped sharply, whereas real‑estate sales saw a modest increase in operating profit due to reduced repair costs. Regional performance shows Japan’s contribution falling 6.9 %, while overseas sales grew marginally (0.5 %) and Europe experienced a 101.7 % jump, driven by new title launches. Cost structure shifts include a slight reduction in COGS and outsourcing expenses, offset by increased variable costs. Headcount rose 7.9 % to 2,736 employees, with employment and advertising costs trending upward. The company maintains its FY2024 guidance unchanged, targeting ¥90 billion in sales and a 33.3 % operating profit margin, supported by planned releases of major titles such as “Romance of the Three Kingdoms 8” and “Fairy Tail 2.” The TSE Prime listing compliance remains close to the 35 % tradable‑share threshold, with planned treasury conversion actions.

market-analysis japan global

Koei Tecmo

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Financial Highlights: 2nd Quarter FY2025

The financial highlights cover the first half of fiscal year 2025 for Koei Tecmo Holdings, a Tokyo‑listed video game and entertainment company. The six‑month period ending September 30 shows net sales of ¥31,268 million, down 11.2% YoY, while operating profit fell 25.2% to ¥7,964 million and ordinary profit declined 15.3% to ¥17,795 million. Comprehensive income surged 256.4%, driven largely by gains on investment securities and derivatives, reaching ¥46,411 million versus a 44.2% loss of ¥13,021 million in the prior year’s half. Profitability metrics reveal a decline in gross margin from ¥20,593 million to ¥17,238 million and operating margin from 30.6% to 25.4%. Net income attributable to the parent fell 15.7% to ¥13,465 million, with basic earnings per share decreasing from ¥50.58 to ¥42.61. Total assets increased 49% to ¥314,239 million, largely due to a rise in investment securities and cash balances. Net assets grew 31% to ¥248,726 million, with the equity‑to‑asset ratio improving from 89.9% to 78.9%. The report notes no significant consolidation changes, accounting policy shifts, or restatements. Treasury shares were reduced from 20.25 million to 2.01 million during the period, reflecting a public offering and secondary issuance. Dividend policy remains unchanged, with no cash dividends declared for the first half of FY 2025. The company’s financial position is strengthened by higher liquidity and a solid equity base, but operating performance has weakened relative to the previous year.

market-analysis investment japan+1

Koei Tecmo

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Results: What's Next - Focus on Cash Flow

The analysis outlines a strategic pivot toward cash‑flow optimization for the company, driven by recent shifts in the VR market and a need to secure additional financing. Revenue growth in 2024 reached PLN 190.4 million, largely supported by the launches of Project Maverick and Project Echo, as well as the January 2024 release of Bulletstorm VR. However, profitability suffered due to write‑offs of the Red and Bifrost projects and a decline in 2Q revenues linked to Gemini negotiations, resulting in an EBITDA of PLN 12.9 million and a net loss of PLN 175.3 million. Operationally, the organization is trimming non‑essential spend and restructuring office space and team composition to reduce overhead. The workforce, which expanded from 612 employees in 2020 to 756 by the end of 2024, is being realigned with a focus on critical projects. The company has ceased further investment in VR development following the 2024 platform subsidy withdrawal, redirecting resources toward AAA and compact‑AAA titles. Future initiatives include two new work‑from‑home projects with Sony Interactive Entertainment, the self‑publishing of Project Bison (the final VR title from PCF Group) slated for Q4 2025, and an early‑access release of Lost Rift in 2025. Krafton’s waiver of ROFO/ROFR rights for Bifrost and Victoria frees the company to seek external publishers. Scenario analysis is underway to identify additional funding sources, ensuring liquidity while maintaining a lean operational model across global studios in Warsaw, Montreal, Newcastle, Dublin, Katowice, and Rzeszów.

game-development game-publishing vr+3

PCF Group

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Q3 2025 Investor Presentation

The third quarter of 2025 reflects a period of robust financial performance and strategic expansion for the organization, characterized by significant organic growth and the successful integration of recent acquisitions. The company reported net sales of SEK 2,987 million, representing a 126% increase in constant currency compared to the previous year. This growth was underpinned by a 15% organic growth rate, driven primarily by strong performance in key franchises, including PlaySimple and Warhammer 40,000: Tacticus, alongside effective live-ops execution for RAID: Shadow Legends. Profitability remained strong, with an adjusted EBITDA of SEK 675 million, resulting in a 23% margin. The company demonstrated healthy cash generation, achieving a 60% unlevered cash conversion rate during the quarter. User acquisition (UA) investment intensified significantly, with a 37% year-over-year increase in spending for original studios and a 120% increase for the total group in constant currencies, reflecting a strategic focus on scaling both midcore and casual gaming segments. The scope of these results encompasses the company’s global gaming operations, with data presented in Swedish Krona and adjusted for constant currency impacts. The financial reporting reflects the consolidation of Plarium, which has been a primary driver of revenue growth throughout the year. Based on these results, the company has raised its full-year 2025 outlook, now targeting organic growth of 7% to 9% and total reported revenue between SEK 11.4 billion and 11.7 billion. The organization remains well-positioned to maintain its current trajectory, supported by disciplined financial leverage and continued investment in high-performing game titles.

market-analysis monetization user-acquisition+3

Modern Times Group

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Wyniki Finansowe 3M25

The presentation outlines the financial performance and strategic outlook of PCF Group S.A. for the period up to 31 March 2025, with a focus on its gaming and VR portfolio. Core data show cumulative revenues of PLN 190.4 million, with quarterly figures ranging from PLN 150.1 million in Q2 2023 to PLN 162.2 million in Q4 2024, reflecting a modest upward trend despite occasional dips linked to project launches and market conditions. Net income for the year 2024 is projected at PLN 63.0 million, with an EBITDA of PLN 11.0 million in Q1 2024 and a corrected EBITDA of PLN 10.0 million in Q2 2025, indicating operational profitability but sensitivity to project-specific expenses such as the Bifrost initiative and the Echo project. The group’s portfolio includes flagship titles like “Bulletstorm VR” (released January 2024) and “Green Bison Quest” slated for Q4 2024 on Meta, alongside ongoing VR developments with partners Creepy Jar and People Can Fly. Personnel distribution shows a stable workforce of 756 employees across Warsaw, Montreal, New Castle, Dublin, Katowice, and Rzeszów, with a balanced split between development, back‑office, studio, publishing, QA, and game operations. Geographic coverage spans Europe and North America, with a strategic emphasis on expanding VR offerings in the US market. Methodologically, figures are rounded and derived from internal financial statements; no external survey data is cited. The document serves primarily as an informational update rather than a formal investment recommendation, emphasizing that projections are contingent on management’s assumptions and market variables.

market-analysis investment europe

PCF Group

Report

Financial Results for the First Half of the Fiscal Year Ending March 2021

The first‑half financial results for the fiscal year ending March 2021 demonstrate a record‑setting performance, with sales rising 39.7 % to ¥23.141 billion and operating profit increasing 145.6 % to ¥8.447 billion. Net profit nearly doubled, reaching ¥11.845 billion, driven largely by a sharp rise in royalty income and gains from securities sales. Fixed costs expanded due to development‑capability growth, but the higher revenue offset these expenses; an extraordinary loss of ¥124 million in Q1 was attributed to COVID‑19 shutdowns of amusement facilities and the KT Zepp Yokohama venue. Segment analysis shows entertainment sales accounting for 93 % of total revenue, with a 45.8 % increase to ¥21.683 billion. Amusement and real‑estate segments experienced modest declines, while other operating profits fell by 18 %. Geographic revenue shifted toward overseas markets: overseas sales grew from ¥5.814 billion to ¥11.609 billion, representing 50.2 % of total sales, and overseas units sold rose by 99.7 %. Digital sales declined overall, with a 42.2 % drop in console units and a 50.4 % reduction in digital copies, reflecting the impact of pandemic‑related store closures. The company’s FY 2020 full‑year plan targets ¥51 billion in sales and ¥17 billion in operating profit, an upward revision from the mid‑term plan. Planned capital expenditures focus on real‑estate expansion and new office facilities, while a 50 % dividend payout policy is maintained. Overall, the results underscore strong IP licensing performance, robust back‑catalogue sales, and a strategic shift toward higher overseas revenue streams.

market-analysis investment japan+1

Koei Tecmo

Report

Bandai Namco Group Fact Book 2023

www.bandainamco.co.jp TABLE OF CONTENTS 01 Consolidated Business Performance / 03 Sales by IPs / Entertainment Unit (Digital Business) 04 Entertainment Unit (Toys and Hobby Business) 06 IP Production Unit / Amusement Unit Entertainment Unit (Digital Business) 07 Game App Market / Home Video Game Market Entertainment Unit (Toys and Hobby Business) 09 Plastic Model Market / Figure Market / Capsule Toy Market / 10 Candy Toy Market / Children’s Lifestyle (Sundries) Mar...

market-analysis game-publishing mobile+3

Bandai Namco

Report

Financial Results for the Third Quarter: Fiscal Year Ending March 2024

The quarterly report details KOEI TECMO HOLDINGS’ financial performance for the third quarter of fiscal 2024, highlighting a 23.7 % increase in sales to ¥61.1 billion compared with the same period a year earlier, driven largely by online and mobile game revenues. Operating profit rose to ¥20.3 billion, a 33.2 % gain, while ordinary and net profits grew by 55.3 % and 39.7 %, respectively, reflecting strong profitability in the entertainment segment. Geographically, Japan contributed 61.1 % of sales (¥37.4 billion), up from 51.6 %, while overseas sales remained flat at 38.9 % (¥23.8 billion). Within overseas markets, North America and Europe saw modest declines of 2.7 % and 15.0 %, whereas Asia maintained a stable share at 27.3 %. Digital sales accounted for 84.2 % of total revenue, up 5.4 percentage points from the prior year, underscoring a shift toward downloadable content and mobile titles. Key titles released in Q3 included “Fate/Samurai Remnant” and the DLC for “Wo Long: Fallen Dynasty,” while “Nobunaga’s Ambition” and “Atelier Resleriana” drove mobile downloads, achieving over three million installs. The company plans to launch “Rise of the Ronin” in March 2024 and expand mobile offerings overseas, supported by a new partnership with Akatsuki Inc., which involved underwriting 1.13 million shares. The FY2023 plan projects sales of ¥95 billion, a 21.1 % increase over FY22, with operating profit expected at ¥37.5 billion (a 4.2 % decline from the plan) and net profit at ¥31 billion, reflecting cautious outlook amid global economic shifts.

market-analysis mobile console+2

Koei Tecmo

Report

Current Report No. 42/2021: Information on Transactions by Persons Performing Managerial Responsibilities

The report discloses transactions executed by a managerial officer of PCF Group S.A. on behalf of the company, in compliance with Article 19(3) of the MAR regulation. It was prepared on 30 August 2021 and covers disclosures received on that same day concerning acquisitions of the company’s shares made by the Managing Director. Three separate notifications are referenced, relating to purchases on 26 August 2021, 27 August 2021, and 30 August 2021. Each notification is attached as an annex to the current report, providing detailed information on the quantity of shares acquired, transaction dates, and purchase prices. The scope is limited to a single corporate entity within the Polish market and pertains exclusively to managerial‑level transactions over a three‑day period in August 2021. No additional data sources or survey methodology are mentioned, as the report relies solely on regulatory filings submitted by the company’s board. The primary conclusion is that the Managing Director engaged in multiple share purchases during the specified dates, and these transactions have been duly reported to meet transparency obligations under MAR.

investment europe

PCF Group

Partial Correction to FY2024 Consolidated Financial Results: Japan

2Q FY2022 Presentation Material: January to March 2022

3Q FY2022 Presentation Material: Japan

Annual Report 2014

Raport Bieżący Nr 41/2021: Informacja o Transakcjach Wykonywanych przez Osoby Pełniące Obowiązki Zarządcze

Annual Report 2007

Summary of Consolidated Financial Results: Six Months Ended September 30, 2022

Financial Results for the First Quarter: Fiscal Year Ending March 2026

FY2020 2Q Financial Results Presentation

Current Report No. 39/2021: Information on Transactions by Persons Discharging Managerial Responsibilities

Financial Results for the First Quarter of Fiscal Year Ending March 2025

Financial Highlights: 2nd Quarter FY2025

Results: What's Next - Focus on Cash Flow

Q3 2025 Investor Presentation

Wyniki Finansowe 3M25

Financial Results for the First Half of the Fiscal Year Ending March 2021

Bandai Namco Group Fact Book 2023

Annual Report 2015

Financial Results for the Third Quarter: Fiscal Year Ending March 2024

Current Report No. 42/2021: Information on Transactions by Persons Performing Managerial Responsibilities