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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.

market-analysis game-publishing investment+3

Nacon

Report

Raport Bieżący Nr 16/2025: Podjęcie decyzji o zawieszeniu dalszych prac nad projektem Bifrost

PCF Group S.A. has officially suspended all development work on the self-published project Bifrost. This strategic decision follows a series of recent organizational adjustments, including the prior reduction of the project’s development team and the impairment of associated assets. The move marks a significant shift in the company’s operational focus as it navigates current financial constraints and resource allocation challenges. The primary catalyst for this suspension is the failure to secure a new execution agreement for the Gemini project, which was being developed in Europe under a work-for-hire model for Square Enix Limited. A subsequent internal analysis of the company’s cash flow revealed that the loss of this partnership rendered the continued self-funding and production of Bifrost financially unviable. Consequently, the company lacks the necessary organizational resources and capital to sustain the project’s development and eventual market release. This decision reflects a broader restructuring effort within the company, occurring in tandem with the concurrent halt of development on the Gemini project. By suspending Bifrost, the organization aims to mitigate further financial risk in light of its updated liquidity projections. Management intends to provide further updates regarding the implications of this decision and the company’s future strategic direction through subsequent regulatory disclosures.

game-development investment europe

PCF Group

Report

Partial Correction to FY2023 First Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. issued a correction to its FY2023 first‑quarter consolidated financial results under Japanese GAAP, published on January 25 2023. The correction, announced May 15 2025, adjusts several numerical figures but does not alter the overall narrative of performance. Net sales for the quarter fell 2.1 % YoY to ¥167,423 million, while operating income turned into a loss of ¥1,738 million from an operating profit of ¥19,642 million the prior year. Ordinary loss amounted to ¥1,421 million versus an ordinary profit of ¥19,675 million, and net loss attributable to owners of the parent reached ¥5,391 million against a prior‑year profit of ¥5,929 million. Basic earnings per share were negative at –¥10.65; diluted EPS is not presented due to negative basic earnings and dilutive shares. Total assets rose to ¥420,970 million, driven largely by convertible bond issuance, while equity fell to ¥209,638 million as retained earnings declined. The company’s dividend policy remains unchanged; no revisions were made to the FY2023 forecast, which projects net income of ¥720 million and operating loss of ¥40 million for the year. Segment analysis shows media business sales up 33.7 % to ¥33,506 million but operating loss widened to ¥9,663 million; internet advertising sales grew 8.9 % but operating income fell 13.6 %; game business sales declined 29.9 %. The correction does not affect the company’s forward‑looking statements or accounting policy changes, which include adoption of fair‑value measurement guidance and transition to a group tax sharing system.

investment japan

CyberAgent

Report

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.

market-analysis game-publishing console+2

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.

market-analysis console france+1

Nacon

Report

Partial Correction to FY2022 Third Quarter Consolidated Financial Results: Japanese GAAP

CyberAgent, Inc. issued a partial correction to its FY2022 third‑quarter consolidated financial results under Japanese GAAP, published on May 15 2025. The correction addresses numerical inaccuracies in the original July 27 2022 disclosure, with revised figures presented in full. Net sales for the cumulative third quarter rose 9.7 % year‑on‑year to ¥533,882 million, while operating income fell 29.1 % to ¥54,813 million and ordinary income declined 28.9 % to ¥55,180 million. Profit attributable to shareholders of parent decreased 39.8 % to ¥19,779 million, and comprehensive income attributable to shareholders fell 41.5 % to ¥29,006 million. Basic and diluted earnings per share dropped from ¥65.11/¥61.64 to ¥39.12/¥37.03, reflecting the lower earnings. Segment analysis shows media business revenue increased 36.2 % to ¥81,926 million but remained loss‑making at –¥10,315 million. Internet advertisement revenue grew 18.8 % to ¥283,878 million with a modest operating profit of ¥18,859 million. Game business sales fell 6.9 % to ¥173,551 million and operating income declined 29.4 % to ¥48,427 million. Investment development revenue dropped 45.1 % to ¥3,353 million, and other businesses saw a 23.1 % sales rise to ¥19,325 million but operating loss of –¥356 million. Total assets decreased by ¥8,804 million to ¥373,421 million, while net assets increased by ¥21,616 million to ¥215,409 million. The company maintained its FY2022 full‑year forecast of net sales ¥700,000 million and operating income ¥70,000 million. The correction does not alter the company’s dividend policy or forecast revisions.

market-analysis japan game-publishing

CyberAgent

Report

Summary of Consolidated Financial Results: Second Quarter of Fiscal Year Ending March 31, 2015

Hibiya Engineering’s consolidated financial results for the second quarter of the fiscal year ending March 31, 2015, reflect a period of operational growth in sales alongside persistent profitability challenges. The company reported net sales of 28,104 million yen for the six-month period ending September 30, 2014, representing a 7.1% increase compared to the same period in the previous year. This growth was supported by an 8.2% rise in orders received, totaling 37,851 million yen, as the firm continued its strategic efforts to function as a comprehensive engineering services provider. Despite the increase in top-line revenue, the company faced a difficult operating environment characterized by rising labor and material costs and intense market competition. These factors contributed to an operating loss of 975 million yen, slightly wider than the 918 million yen loss recorded in the prior year. Consequently, the company reported an ordinary loss of 755 million yen and a net loss of 494 million yen for the first half, contrasting with the net income of 118 million yen achieved in the same period of 2013. The financial position as of September 30, 2014, showed total assets of 73,394 million yen, a decrease from the 83,531 million yen reported at the end of the previous fiscal year, largely driven by a reduction in accounts receivable. Total liabilities also declined significantly to 16,797 million yen. The company maintained its full-year forecast, anticipating net sales of 71,000 million yen and net income of 2,000 million yen. Additionally, the firm implemented changes to its accounting standards regarding retirement benefits, though these adjustments had no material impact on the reported quarterly financial statements.

market-analysis investment japan

Hibiya Engineering

Report

Quarterly Transition by Business Segment: Japan

The quarterly transition analysis for Japan’s business segments compares fiscal year 2020 to fiscal year 2021, presenting sales and operating profit figures in millions of yen. Media business sales increased from ¥57,098 m to ¥82,869 m, yet operating losses widened from –¥14.8 bn to –¥17.8 bn, reflecting a decline in operating margin from –31.4% to –15.7%. Game business sales rose sharply, reaching ¥262,751 m in FY2021 from ¥155,861 m in FY2020; operating profit grew to ¥96.7 bn, with a margin of 36.8% versus 19.7% in FY2020, driven by higher revenue in Q2 and Q3. Internet advertisement sales grew from ¥269,396 m to ¥321,313 m, with operating profit increasing to ¥23.1 bn and margin improving modestly from 6.1% to 7.2%. Investment development sales remained low, fluctuating around ¥4–5 bn, but operating profit swung dramatically from a 90.2% margin in Q1 FY2020 to –57.3% overall in FY2021, indicating volatility and significant adjustments. Other business sales increased from ¥19,599 m to ¥21,744 m, with operating profit modestly improving from ¥542 m to ¥104 bn and margin stabilizing near 2.5%. Adjustments and special incentives were recorded, with total adjustments of –¥27,481 m in FY2020 and –¥28,658 m in FY2021. Overall, the analysis covers Japan’s domestic market across five segments over two fiscal years, using quarterly sales and operating profit data to assess performance trends.

market-analysis monetization game-publishing+1

CyberAgent

Report

FY2021 Third Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. reported a strong third‑quarter performance for FY2021 under Japanese GAAP, with net sales rising 36.1 % YoY to ¥486.7 billion and operating income surging 171.9 % YoY to ¥77.5 billion. Ordinary income increased 173.3 % to ¥77.8 billion, while profit attributable to shareholders of the parent jumped 462.1 % to ¥33.0 billion, reflecting a cumulative comprehensive income of ¥49.7 billion (288.8 % YoY). Basic earnings per share reached ¥65.46, up from ¥11.65 in FY2020, after a four‑for‑one stock split effective April 1 2021. Total assets grew to ¥343.7 billion, driven by a ¥82.9 billion increase in current assets, while total liabilities rose to ¥165.6 billion, mainly due to higher accounts payable and short‑term loans. Shareholders’ equity expanded to ¥110.5 billion, with retained earnings rising by ¥50.4 billion. Segment analysis shows the Internet Advertisement Business delivering record net sales of ¥239.1 billion (17 % YoY) and operating income of ¥18.1 billion, while the Game Business posted net sales of ¥186.3 billion (59.5 % YoY) and operating income of ¥68.6 billion, a 196.4 % increase. The Media Business, despite continued investment in ABEMA, achieved net sales of ¥60.2 billion (52.6 % YoY) with an operating loss of ¥11.2 billion, reduced from ¥13.3 billion the prior year. The company revised its full‑year earnings forecast upward and increased the FY2021 dividend to ¥11.00 per share (¥44 pre‑split), targeting a 5 % or higher dividend payout ratio. The results underscore CyberAgent’s strategy of leveraging smartphone‑focused advertising growth while investing heavily in media and gaming assets to sustain long‑term profitability.

market-analysis mobile japan+1

CyberAgent

Report

Summary of Consolidated Financial Results: Q2 Fiscal Year Ending March 31, 2014 (Japan)

Hibiya Engineering, Ltd. reported its consolidated financial results for the second quarter of the fiscal year ending March 31, 2014, reflecting a challenging operating environment within the Japanese construction industry. Despite a 9.6% year-on-year increase in orders received, totaling 34,986 million yen, the company faced significant profitability pressures due to intense market competition and rising costs for labor and materials. Financial performance for the first half of the fiscal year showed a decline in net sales to 26,243 million yen, a 10.1% decrease compared to the same period in the previous year. The company recorded an operating loss of 918 million yen, contrasting with the 148 million yen operating income reported in the first half of 2012. Ordinary income also shifted from a 356 million yen profit to a 551 million yen loss. Consequently, net income fell by 49.6% to 118 million yen. The company’s financial position as of September 30, 2013, showed total assets of 71,002 million yen, a decrease from 79,427 million yen at the end of the previous fiscal year, largely driven by a reduction in accounts receivable. Total liabilities also decreased to 15,434 million yen, primarily due to lower notes and accounts payable. The equity ratio stood at 75.8%. Management has revised its full-year forecast for the fiscal year ending March 2014, though the company maintains its commitment to its strategic goal of operating as a comprehensive engineering services provider. These results were prepared in accordance with Japan GAAP and reflect the company's performance during the six-month period ending September 30, 2013.

market-analysis investment japan

Hibiya Engineering

Report

FY2021 Second Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. reported consolidated financial results for the second quarter of fiscal 2021 (October 1 2020–March 31 2021). Net sales rose 20.3 % YoY to ¥294,497 million, driven by a 54.6 % increase in media business sales and a record high of ¥157,228 million in internet advertising. Operating income surged 62.8 % to ¥32,932 million, and profit attributable to shareholders of parent climbed 187.7 % to ¥13,694 million, reflecting gains from game development and investment‑development segments. Comprehensive income reached ¥18,233 million, up 170.9 % YoY. Total assets increased to ¥300,365 million, with accounts receivable expanding markedly due to higher sales. Net assets rose to ¥146,617 million, and shareholders’ equity ratio fell slightly from 34.3 % to 33.3 %. Cash and cash equivalents declined by ¥1,984 million to ¥100,384 million; operating cash flow was ¥10,082 million, while investing activities used ¥12,935 million and financing activities provided ¥600 million. The company revised its full‑year earnings forecast upward, projecting net sales of ¥600,000 million and operating income of ¥57,500 million. Dividend policy was adjusted to a year‑end forecast of ¥10.00 per share (¥40 pre‑split), targeting a dividend‑yield of 5 % or more. A four‑for‑one stock split effective April 1, 2021 increased issued shares to 505.7 million and prompted adjustments to convertible bond conversion prices and stock‑acquisition‑right exercise prices. The results reflect continued investment in the media platform ABEMA while capitalizing on growth in advertising and gaming, positioning CyberAgent for medium‑to‑long‑term shareholder value creation.

market-analysis mobile japan+1

CyberAgent

Report

FY2021 First Quarter Consolidated Financial Results: Japan GAAP

CyberAgent Inc. reported consolidated results for the first quarter of FY2021, ending September 30 2021, showing a 13.3 % increase in net sales to ¥131,014 million versus ¥115,681 million in the same period of FY2020. Operating income fell 8.7 % to ¥7,058 million from ¥7,733 million, while ordinary income declined 10.2 % to ¥6,932 million. Profit attributable to shareholders of the parent rose sharply by 101.3 % to ¥2,930 million, driven largely by gains in the investment development segment and a reduction of operating losses in media. Basic earnings per share increased to ¥23.22 from ¥11.55, and diluted EPS reached ¥21.87. Total assets decreased to ¥252,094 million from ¥260,766 million, largely due to a reduction in cash and deposits following corporate tax payments. Net assets fell to ¥122,436 million from ¥127,678 million, and the shareholders’ equity ratio declined to 33.3 % from 34.3 %. The company maintained a stable share count of approximately 126 million shares outstanding, with treasury stock reduced to 241,942 shares. Segment analysis revealed that the media business grew net sales by 67 % to ¥20,428 million but remained loss‑making at ¥3.926 billion. Internet advertising achieved a record net sales of ¥76,587 million with operating income up 0.8 % to ¥5,705 million. Game business sales fell 15 % to ¥29,954 million, and operating income dropped 77.8 %. Investment development sales surged 79.9 % to ¥5,314 million with operating income up 74 %. Other businesses grew modestly by 12.5 % to ¥5,223 million. The company’s FY2021 full‑year forecast remains unchanged from the October 28, 2020 announcement, projecting net sales of ¥500,000 million and operating income of ¥30,000 million. No revisions to dividend forecasts were made for FY2021.

market-analysis mobile japan

CyberAgent

Report

FY2020 Third Quarter Consolidated Financial Results: Japan

CyberAgent Inc. reported consolidated financial results for the third quarter of FY2020, ending September 30, 2020. Net sales increased by 4.6 % year‑on‑year to ¥357,708 million, driven by growth in the Internet advertisement and game segments. Operating income rose 21.9 % to ¥28,511 million, and ordinary income climbed 22.8 % to ¥28,463 million; profit attributable to shareholders of the parent surged 230.9 % to ¥5,879 million, reflecting a strong rebound after a loss in the prior year. Basic earnings per share reached ¥46.63, up from ¥14.10 in FY2019. Total assets grew to ¥235,860 million, with cash and deposits rising by ¥5,860 million. Net assets increased to ¥120,362 million, and the shareholders’ equity ratio improved slightly from 35.2 % to 35.7 %. The company maintained a dividend policy of ¥33 million per share for FY2020, unchanged from the previous year. Segment analysis shows the media business (including ABEAMA and Ameba) generated ¥39,437 million in sales with a modest operating loss of ¥13.288 million; the game business delivered ¥116,815 million in sales and ¥23,142 million in operating income; the Internet advertisement segment achieved ¥204,419 million in sales and ¥17,130 million in operating income. Investment development and other businesses contributed smaller amounts. The forecast for FY2020 remains unchanged, projecting net sales of ¥465 000 million and operating income of ¥28 000 million. The results reflect CyberAgent’s focus on smartphone‑centric advertising and investment in long‑term growth assets amid a recovering digital ad market.

market-analysis investment japan+1

CyberAgent

Report

FY2020 Second Quarter Consolidated Financial Results: Japan

CyberAgent Inc. reported its FY2020 second‑quarter consolidated results for the period ending March 31, 2020. Net sales rose 7.3 % year‑on‑year to ¥244,853 million, driven by growth in the media, game and internet advertising segments. Operating income increased 45 % to ¥20,231 million, while ordinary income climbed 47 % to ¥20,234 million. Profit attributable to shareholders of the parent surged 338 % to ¥4,760 million, reflecting a sharp turnaround from a loss of ¥1,087 million in the same quarter of FY2019. Basic earnings per share rose from ¥8.63 to ¥37.76, and diluted EPS increased from ¥7.91 to ¥35.55. Total assets grew by ¥16,242 million to ¥241,118 million, with accounts receivable expanding due to higher sales. Total liabilities increased by ¥12,113 million, mainly from accounts payable. Net assets rose to ¥114,482 million, and the shareholders’ equity ratio fell slightly from 35.2 % to 32.9 %. Cash and cash equivalents increased by ¥395 million to ¥84,959 million. Operating activities generated a net cash inflow of ¥11,574 million, while investing and financing activities used cash, resulting in a modest net increase. Segment analysis shows the media business (including ABEMA and Ameba) posted ¥26,043 million in sales with a slight operating loss of ¥9,288 million; the game business achieved ¥80,103 million in sales and ¥15,560 million operating income; internet advertising generated ¥140,110 million in sales and ¥12,389 million operating income. The investment development segment recorded a decline of 32.8 % in sales to ¥3,380 million. The company forecasts FY2020 net sales of ¥465,000 million and operating income of ¥28,000 million, unchanged from the original October 2019 forecast. No revisions to dividend forecasts were made; a single annual dividend of ¥33 million per share is expected. The report covers Japan‑based operations, reflects a full fiscal year ending September 30, 2020, and is based on consolidated financial statements prepared under Japanese GAAP.

market-analysis investment japan+1

CyberAgent

Report

1Q FY2020 Presentation Material

The presentation outlines the financial performance and strategic outlook of a Japanese media company for the first quarter of fiscal 2020, with comparative data through FY2016‑FY2019. Revenue figures are highlighted, showing a total of 115.6 billion yen in FY2020, with quarterly growth rates ranging from 24% to 28%. Operating income for the quarter is reported at 7.7 billion yen, representing a 24‑28% increase year‑over‑year and translating to an operating margin of approximately 32%. Net profit for the period is 1.4 billion yen, a 15‑18% rise, yielding a net margin near 10%. The document also presents quarterly revenue trends across the five-year span, indicating steady top‑line growth and improving profitability. Key product highlights include several mobile titles such as “Princess Connect!” and “Granblue Fantasy,” with release dates noted for 2019‑2020. The presentation details the company’s digital streaming arm, AbemaTV, noting subscriber counts (over 7 million) and advertising revenue growth. A medium‑to‑long‑term sales pipeline is outlined, emphasizing monetization through related businesses, advertising expansion, and subscription growth. Geographic coverage is limited to Japan, with the time period focused on FY2016‑FY2020. Methodology is implied through internal financial reporting and market data, though specific survey or external data sources are not disclosed. Overall, the material presents a positive trajectory for revenue and profitability while outlining strategic initiatives to sustain growth in digital media and streaming services.

market-analysis mobile japan+1

CyberAgent

Report

FY2020 First Quarter Consolidated Financial Results: Japan GAAP

CyberAgent Inc. reported consolidated financial results for the first quarter of FY2020, ending September 30 2020. Net sales rose 4.4 % year‑on‑year to ¥115,681 million, driven by growth in the Internet advertising and media segments. Operating income increased 44.6 % to ¥7,733 million, and ordinary income grew 49.5 % to ¥7,724 million, reflecting higher advertising billings and a rebound in game revenue. Profit attributable to shareholders of the parent reached ¥1,456 million, an 58.9 % increase from the prior year’s ¥916 million. Total assets increased modestly to ¥226,195 million, with a slight rise in software and intangible assets. Net assets grew to ¥111,489 million, supported by gains on available‑for‑sale securities and a higher valuation difference. Shareholders’ equity remained stable at ¥74,015 million after accounting for capital surplus and retained earnings adjustments. Segment analysis shows the Internet advertising business contributed ¥67,322 million in sales with a 33.7 % operating income increase, while the media segment recorded ¥12,229 million in sales but incurred an operating loss of ¥5,050 million due to investment in AbemaTV. The game segment generated ¥35,251 million in sales with a 60.3 % operating income rise. Investment development and other businesses contributed modestly to overall results. The company maintained its FY2020 full‑year forecast unchanged, projecting net sales of ¥465,000 million and operating income of ¥28,000 million. No material changes in accounting policies or significant subsidiaries were reported for the period.

market-analysis investment game-publishing+1

CyberAgent

Report

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

KLab Inc. reported consolidated financial results for the third quarter of fiscal year 2025, covering January through September 2025. Revenue declined by 18.6 % to ¥4,933 million from ¥6,059 million in the same period of fiscal 2024, driven mainly by lower performance of the Captain Tsubasa: Dream Team title and weaker content revenue. Cost of sales fell 18.8 % to ¥4,342 million, reflecting reduced commission payments and a comprehensive reduction in labor, outsourcing, and subcontracting costs. Selling, general and administrative expenses decreased 20.3 % to ¥1,453 million. The company recorded a gain on sale of investment securities of ¥1,578 million as extraordinary income but incurred an impairment loss of ¥4,427 million on software assets for EA SPORTS FC™ TACTICAL. Operating loss narrowed to ¥860 million from ¥1,113 million year‑on‑year. Ordinary loss improved to ¥1,046 million from ¥1,182 million, yet net loss attributable to owners of parent widened to ¥3,975 million from ¥1,757 million. Total assets contracted to ¥10,461 million, with net assets falling to ¥7,195 million and equity ratio at 68.5 %. The company disclosed no dividend payments for FY2024 or FY2025 and declined to provide a fiscal‑year forecast due to market volatility. KLab highlighted ongoing concerns, citing four consecutive operating deficits and negative cash flows, while outlining strategic initiatives in AI, blockchain, and entertainment to restore profitability. The report covers Japan‑based operations under Japanese GAAP for the first nine months of FY2025, with data derived from consolidated financial statements and accompanying notes.

market-analysis investment japan+1

KLab

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.

market-analysis mergers-acquisitions monetization+3

GREE

First Half 2023/24 Sales: Nacon Financial Results

Raport Bieżący Nr 16/2025: Podjęcie decyzji o zawieszeniu dalszych prac nad projektem Bifrost

Partial Correction to FY2023 First Quarter Consolidated Financial Results: Japan

Third Quarter 2024/25 Sales

Sales for the 2024/25 Financial Year: Nacon

Partial Correction to FY2022 Third Quarter Consolidated Financial Results: Japanese GAAP

Annual Report 2010

Summary of Consolidated Financial Results: Second Quarter of Fiscal Year Ending March 31, 2015

Quarterly Transition by Business Segment: Japan

FY2021 Third Quarter Consolidated Financial Results: Japan

Summary of Consolidated Financial Results: Q2 Fiscal Year Ending March 31, 2014 (Japan)

FY2021 Second Quarter Consolidated Financial Results: Japan

FY2021 First Quarter Consolidated Financial Results: Japan GAAP

FY2020 Third Quarter Consolidated Financial Results: Japan

FY2020 Second Quarter Consolidated Financial Results: Japan

1Q FY Sep. 2026 Financial Results Presentation

1Q FY2020 Presentation Material

FY2020 First Quarter Consolidated Financial Results: Japan GAAP

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

GREE’s Global Strategy and OpenFeint Acquisition