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Game Publishing

Annual Report 2011

C o r p o r a t e P h i l o s o p h y To spread happiness across the globe by providing unforgettable experiences This philosophy represents our company’s mission and the beliefs for which we stand. Each of our customers has his or her own definition of happiness. The Square Enix Group provides high-quality content, services, and products to help those customers create their own wonderful, unforgettable experiences, thereby allowing them to discover a happiness all their own.

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Square Enix

Report

First Quarter 2024/25 Sales: Confirmation of Full-Year 2024/25 Growth Targets

NACON reported first‑quarter sales of €32.3 million for the 2024/25 financial year, a 9.0 % decline from €35.5 million in the same period of 2023/24 after adjusting for a partial disposal of Gollum. Gaming revenue fell sharply to €17.8 million, with new‑game catalogue sales dropping 69.4 % to €3.8 million due to a high base in the prior year, while back‑catalogue sales rose 17.9 % to €14.0 million, buoyed by titles such as Robocop: Rogue City and Taxi Life. Accessories sales increased 27.5 % to €13.3 million, driven by strong demand for RIG 600 PRO headsets and REVOLUTION 5 PRO controllers in the United States and Australia. Other mobile and audio sales grew 93 % to €1.1 million. The company projects a rebound in gaming revenue in the second quarter, citing an aggressive release schedule that includes Tiebreak: Official Game of the ATP and WTA, Test Drive Unlimited: Solar Crown, and Greedfall II. The accessories division is expected to remain robust, supported by new premium products under the REVOSIM brand and a growing console installed base. NACON’s capital increase in July 2024 has reinforced its financial position, enabling further investment in the gaming pipeline. The next sales update is slated for 28 October 2024. NACON operates globally with 23 subsidiaries and a distribution network covering 100 countries, employing over 1,000 staff across 16 development studios and a publishing arm that generated €20.9 million in operating income for 2023/24.

market-analysis game-publishing console+2

Nacon

Report

Q4 2022-23 Sales and Annual Sales: FY 2022-23

NACON reported consolidated sales for the fiscal year 1 April 2022 to 31 March 2023, with total revenue of €156.4 million, a marginal increase of 0.3 % over the prior year. Quarterly performance showed a strong rebound in Q4, where sales rose 19.1 % to €37.7 million after a 19.6 % decline in Q3. The Games segment dominated the growth, increasing by 67.0 % to €90.9 million for the full year; new‑catalogue sales surged 93.0 % to €24.9 million, driven by releases such as *Chef Life* and *Transport Fever 2 Console Edition*. Back‑catalogue sales also expanded, reaching an all‑time high of €11.2 million in Q4 and growing 61.2 % year‑over‑year. Accessories revenue fell 36.6 % to €61.2 million, largely due to a global console shortage that dampened demand for new‑generation hardware; however, the decline slowed in Q4, suggesting a potential rebound. Other categories, including mobile and audio sales, contracted 13.1 % to €4.3 million. The company anticipates a decline in operating income before IFRS2 for FY 2023‑24 but expects overall operating and net income to rise. Management projects a robust publishing pipeline with roughly twenty titles slated for release, including high‑profile games such as *The Lord of the Rings: Gollum* and *RoboCop: Rogue City*. The back‑catalogue is expected to continue benefiting from the mechanical effect of new releases, while accessories sales should recover as console supply normalizes and new product offerings expand. NACON’s outlook remains positive, underscoring confidence in continued growth across its video‑game and accessories businesses.

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Nacon

Report

FY2020 3rd Quarter Presentation Materials

The presentation outlines KOEI TECMO HOLDINGS CO., LTD.’s financial performance for the third quarter of FY2020, highlighting a record‑high operating profit of 10.9 billion yen and significant growth across multiple revenue streams. Total sales rose 64.7% year‑over‑year to 43.9 billion yen, driven by strong console releases such as “Hyrule Warriors: Age of Calamity” and “Atelier Ryza 2,” which together contributed over 3.5 million units worldwide. Digital sales, including downloads and DLC, increased by 79.6% to 7.3 billion yen, while mobile and online segments grew 86.5% to 15.3 billion yen, reflecting a robust shift toward digital distribution. Geographically, overseas markets outperformed domestic Japan, with overseas sales up 124.7% to 22 billion yen versus a 29.9% increase in Japan. North America and Europe each saw double‑digit growth, with Asia contributing 132% year‑over‑year. Operating profit margins improved markedly across all segments, with entertainment sales operating at 44.1% and online/PC at 7.3%. The company revised its full‑year earnings estimate upward, projecting operating profit of 22 billion yen against a prior forecast of 17 billion yen. Dividend policy remains stable, targeting a 50% payout ratio or 50 yen per share annually. Staffing increased by 9%, with headcount rising to 2,003 employees and cost of goods sold growing 11.7%, while subcontracting costs fell 13.9%. Overall, the data demonstrate a diversified revenue base, strong digital performance, and an upward trajectory in profitability for FY2020.

market-analysis game-publishing japan+2

Koei Tecmo

Report

FY2019 Fourth Quarter Financial Results

FY2019 Fourth Quarter Financial Results & Net sales ¥70.9 billion, operating income ¥5.5 billion, EBITDA ¥6.4 Full- ⁃ Built long-term operating system and increased profitability of each title through year ⁃ overseas distribution in the games business FY19 Launched live distribution platform and got off to a smooth start in the live Actual ⁃ Achieved steady growth by building media portfolio in advertising and media business & Net sales ¥17.4 billion, oper...

market-analysis investment game-publishing+3

GREE

Report

FY2019 Q1 Financial Results Briefing

The briefing presents FY2019 Q1 financial results for a Japanese game and entertainment company, highlighting net sales of 18.2 billion yen, operating income of 1.6 billion yen, and EBITDA of 1.9 billion yen—slightly below the previous quarter but meeting internal forecasts. Net income benefited from a 1 billion yen gain on investment securities, offsetting prior goodwill impairment losses. Operating costs improved markedly through advertising efficiency, though fixed expenses rose due to strategic investments in future growth and an acquisition of ORATTA. Strategic initiatives focus on expanding overseas mobile game distribution, launching new titles such as Wild Arms: Million Memories and DanMachi in South Korea, Taiwan, Hong Kong, and planned releases in Macau. The company is also developing multi‑platform messenger games (Fishing Star QUICK, Driland) and a live‑streaming platform for VTubers called REALITY, which enables gifting and single‑smartphone VTuber creation. Partnerships with King Records, Idea Factory, and others support music and event projects for VTubers. The Q2 earnings forecast projects net sales of 17–18 billion yen and operating income of 1–1.5 billion yen, reflecting anticipated fluctuations from new overseas distribution and the performance of titles like Another Eden. Methodologically, the company bases forecasts on recent business trends and incorporates a range to account for volatility inherent in game sales. The briefing covers domestic and international markets, mobile and console segments, live entertainment, and media advertising, underscoring a diversified growth strategy across multiple platforms.

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GREE

Report

Dragon Quest: Reimagined

The document presents a comprehensive overview of several flagship role‑playing franchises, focusing on recent releases and cumulative sales achievements. It highlights the launch of “Dragon Quest: Reimagined” on February 5, 2026, available in a bundled package across Nintendo Switch 2, PlayStation 5, Xbox Series X|S, Steam, and Microsoft Store. The title is positioned as a high‑definition 2D remake developed by KLabGames, with a projected global shipment of over 95 million units as of June 2025. The text also references the broader “Dragon Quest” series, noting its continuous evolution since 1986 and its adoption of modern technologies such as 3D mapping, cloud gaming, and cross‑platform connectivity. The “Final Fantasy” section cites cumulative sales of 204 million units for the series, emphasizing its long‑standing appeal since 1987 and its expansion into Western markets. Platforms listed include PlayStation 5, Steam, Epic Games Store, and Nintendo Switch 2, with a focus on the franchise’s visual innovation and narrative depth. The document underscores the series’ global reach, with sales data aggregated across multiple regions. Additionally, the “Kingdom Hearts” entry reports 38 million units shipped worldwide by June 2025, noting its collaborative origin with Disney and Square Enix. The overview includes platform details for the original PlayStation 2 release and mentions forthcoming titles slated for various consoles. Overall, the document serves as a market snapshot of key RPG franchises, detailing launch dates, platform coverage, sales milestones, and development partnerships across the industry.

market-analysis game-publishing console+2

Square Enix

Report

First-Quarter 2025-26 Sales: Nacon

Nacon reported consolidated revenue of €31.3 million for the first quarter of fiscal 2025‑26 (April 1–June 30), a slight decline of 2.9 % compared with the €32.3 million recorded in the same period of 2024‑25. Gaming sales, however, grew by 10.4 % to €19.7 million, driven largely by a 46.4 % jump in catalogue sales to €5.6 million, with key titles such as *Tour de France 2025* and *Pro Cycling Manager 25* contributing 25 % and 35 % sales increases respectively. Back‑catalogue performance remained flat at €14.0 million, meeting expectations. Accessories revenue fell to €10.8 million, a 18.8 % drop largely attributed to a weaker U.S. market and unfavorable year‑on‑year comparison, though European sales showed 22 % growth thanks to Nintendo Switch 2 and XBOX Revolution X Unlimited controller launches. Other revenue, including mobile and audio, decreased by 25.9 % to €0.8 million. The company anticipates robust second‑quarter growth, citing new releases such as *Rugby League 26* and *Robocop: Rogue City – Unfinished Business*, with additional titles slated for the second half of the year. Nacon maintains confidence in meeting its 2025‑26 fiscal targets, citing a strong dual‑business model and ongoing accessory innovation. The next quarterly update is scheduled for 27 October 2025.

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Nacon

Report

First-Quarter 2023/24 Sales: Confirmation of 2023/24 Guidance

NACON reported first‑quarter sales of €38.5 million for the 2023/24 financial year, a 9.3 % decline from €42.4 million in the same period of 2022/23. Gaming revenue remained essentially flat at €27.4 million, with catalogue sales of new titles up 4.5 % to €15.6 million and back‑catalogue sales down 6.8 % to €11.8 million, reflecting a high base from previous growth. Accessories sales fell sharply by 25.5 % to €10.4 million, though management notes an upward trend that should resume in the third quarter as new controllers and headsets receive strong pre‑orders. Mobile and audio sales, classified under “Other,” declined 21.6 % to €0.6 million. The company highlights strong performance of specific new releases—Tour de France and TT Isle of Man Ride on Edge 3, each outperforming earlier versions by 20 % and 10 %, respectively—and the exceptional early‑access launch of Ravenswatch. Back‑catalogue growth is expected to recover in Q2 with the addition of 2022/23 releases, while the accessories segment is projected to rebound from Q3 onward due to an expanding console installed base and promising new products. NACON’s outlook for 2023/24 remains bullish, citing a dense release schedule of roughly 20 new games—including Overpass 2 and AD Infinitum in Q2, and Robocop: Rogue City, Gangs of Sherwood, Cricket 24, and Astérix & Obelix: Heroes in Q3—alongside anticipated sales and operating income growth. The company maintains confidence in achieving strong financial performance for the year, with a second‑quarter sales announcement scheduled for 30 October 2023.

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Nacon

Report

FY2020 Fourth Quarter Financial Results

FY2020 Fourth Quarter Financial Results ◼ Net sales ¥62.7 billion, operating income ¥3.2 billion, EBITDA ¥3.9 ⁃ In the game business, increased earnings potential of titles by strengthening operations Full- systems and expanding overseas distribution year ⁃ In the live entertainment business, strengthened platform functionality and expanded Actual In the advertising and media business, expanded user fan base by strengthening media ◼ Net sales ¥15....

market-analysis game-publishing game-engines+4

GREE

Report

Annual Report 2025: Review of Operations

The annual review outlines Square Enix Group’s fiscal 2025 performance, emphasizing continued efforts to strengthen competitiveness across Digital Entertainment, Amusement, Publication, and Merchandising segments. Net sales fell 8.9 % to ¥324.5 billion, yet operating income rose 24.6 % to ¥40.6 billion, and profit attributable to owners surged 63.7 % to ¥24.4 billion, reflecting improved profitability margins. Digital Entertainment sales declined 16.8 % to ¥206.5 billion, but operating income increased 33 % to ¥33.9 billion. The HD Game sub‑segment saw lower sales from new titles but benefited from reduced amortization and advertising costs, while the MMO sub‑segment grew with the launch of “FINAL FANTASY XIV: Dawntrail.” Games for Smart Devices/PC Browser sales fell due to weaker existing titles. Amusement sales rose 15.7 % to ¥71.2 billion, with operating income up 3.7 %. Publication sales dipped 1.1 % to ¥30.8 billion, with operating income down 8.4 %, partly because of a decline in “The Apothecary Diaries” after its anime adaptation. Merchandising sales increased 0.8 % to ¥19.1 billion, and operating income grew 7.2 % to ¥6.1 billion, driven by strong sales of new IP‑based merchandise. Geographically the report focuses on Japan and global markets, covering a full fiscal year ending March 31 2025. Data derive from consolidated financial statements and segment performance analyses, with no external survey methodology noted. The report highlights strategic shifts toward cost control and IP monetization to offset declining sales in certain sub‑segments.

market-analysis investment game-publishing+2

Square Enix

Report

Corporate Data: August 2025

Corporate Data as of August 31, 2025 outlines the structure and financial standing of Square Enix Holdings Group. The parent company, established in 1975, reports consolidated common stock of ¥24 039 million and employs 4 604 full‑time staff as of March 31, 2025. The group’s core activities span digital entertainment, amusement, publication, and merchandising, with full voting control across all subsidiaries. Key subsidiaries include Square Enix Co., Ltd. (established 2008) with ¥1 500 million in common stock, and TAITO Corporation (established 2009) holding ¥50 million. The AI & ARTS Alchemy Co., Ltd. (established 2020) focuses on research and development in AI, computer graphics, and art. Regional holding entities—Square Enix of America Holdings Inc. (established 2006) and Square Enix Ltd. in the UK (established 1998)—maintain 100 % voting rights over North American and European operations, respectively. Square Enix (China) Co., Ltd. (established 2005) and Huang Long Co., Ltd. (established 2005) manage digital entertainment in China, while Square Enix Pvt. Ltd. (established 2012) handles promotion and publishing in India. The data covers Japan, North America, Europe, China, and India, reflecting a global footprint. No survey methodology is disclosed; figures derive from consolidated financial statements as of the stated dates. The report confirms complete ownership and voting control across all listed entities, underscoring Square Enix’s unified governance structure.

game-publishing employment japan

Square Enix

Report

Summary of main questions and answers at the FY2019 Second Quarter GREE results briefing held on February 4, 2019 PDF

The briefing focused on the performance and strategic outlook of GREE’s flagship title “Another Eden” following its overseas launch on January 29, 2019. Early sales data indicate a strong start abroad, with overseas user numbers already surpassing domestic figures. The company attributes this success to effective advance marketing and anticipates that limited overseas development costs—primarily translation—will translate into significant profit contributions. Marketing hypotheses for each target region were validated by current sales trends, confirming that the user profiles initially targeted align with actual players. In addressing future profitability, GREE disclosed a planned divestiture of unprofitable titles. The company estimates that this will reduce third‑quarter sales by several hundred million yen but will have a negligible impact on operating income, as overseas gains from “Another Eden” are expected to offset declines in existing titles. Concurrently, investment in new game development will increase, particularly during later production phases when outsourced labor and content creation intensify. Advertising spend is projected to remain flat domestically while allocating several hundred million yen for overseas promotion of “Another Eden.” A one‑time accounting adjustment in the first quarter, where variable costs were misclassified as overseas rather than domestic, was corrected in the second quarter. GREE clarified that this revision is isolated and will not recur. Overall, the briefing outlined a strategy of leveraging overseas market penetration to drive profitability while managing development and marketing expenditures in alignment with projected sales trajectories.

market-analysis game-publishing marketing+4

GREE

Report

Financial Highlights: 1st Quarter of the Fiscal Year Ending March 2017

Financial highlights for the first quarter of KOEI TECMO Holdings’ fiscal year ending March 2017 reveal a robust revenue increase and strong profitability across most segments. Net sales rose 12.9 % year‑over‑year to ¥38,332 million, driven primarily by the entertainment segment, which grew 16.2 % to ¥34,713 million; pachislot & pachinko sales increased modestly by 0.8 % to ¥1,788 million, while amusement facilities and real‑estate segments contracted 18.3 % and 2.9 %, respectively. Operating income surged 70.6 % to ¥11,069 million, with the entertainment division contributing 89.5 % of this gain. Net income fell 46.7 % to ¥10,855 million, largely due to a 58.6 % decline in income before taxes and minority interests. On the balance‑sheet side, total assets contracted from ¥110.9 billion to ¥97.3 billion, largely driven by a reduction in current assets and investment securities. Current liabilities fell sharply from ¥10.6 billion to ¥4.9 billion, reflecting lower trade payables and accrued bonuses. Shareholders’ equity decreased from ¥99.0 billion to ¥94.7 billion, with retained earnings declining from ¥60.0 billion to ¥55.6 billion. Net assets fell from ¥98.7 billion to ¥91.0 billion, and accumulated other comprehensive income shifted from a negative ¥523 million to a positive ¥3.9 billion, largely due to foreign‑currency translation adjustments. The data cover Japan‑based operations for the fiscal year ending March 2016, with quarterly figures reported as of June 30 2016. The report aggregates consolidated financial statements without detailing survey methodology, relying instead on standard accounting disclosures.

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Koei Tecmo

Report

Consolidated Financial Results for the Six Months Ended September 30, 2025: Japan

Marvelous Inc. reports a strong first‑half performance for the period ending September 30, 2025, driven by a 57.5 % rise in net sales to ¥20.281 billion from ¥12.877 billion a year earlier. Operating profit fell to ¥226 million, reflecting higher costs and a 61.8 % decline from the prior year’s ¥592 million, yet ordinary profit improved to ¥380 million, up 2.0 % from ¥373 million. Profit attributable to owners of parent reached ¥184 million, a 134.7 % increase over the previous year’s ¥78 million. Comprehensive income swung from a loss of ¥80 million to a gain of ¥176 million, largely due to favorable foreign‑currency translation adjustments. Total assets grew to ¥34.328 billion, with net assets at ¥25.755 billion and an equity‑to‑asset ratio of 74.9 %. Cash and cash equivalents rose to ¥12.386 billion, supported by a net cash inflow of ¥5.822 billion from operating activities, offset by significant outflows for dividends and capital expenditures. Segment analysis shows digital amusement sales of ¥12.414 billion, audio & visual content at ¥5.982 billion, and business services at ¥1.883 billion. Segment profits shifted from a combined loss of ¥888 million in the prior period to a net operating profit of ¥226 million, after allocating corporate expenses. For FY 2026, the company forecasts net sales of ¥35.000 billion and operating profit of ¥2.000 billion, projecting a 25.2 % YoY increase and an ordinary profit of ¥2.000 billion (10.0 % growth). Dividend policy remains unchanged, with a forecast of ¥12 per share for the fiscal year ending March 31, 2026. The financial statements are prepared under Japanese GAAP and include no significant changes in consolidation scope or accounting policy.

market-analysis investment japan+1

Marvelous

Annual Report 2011

First Quarter 2024/25 Sales: Confirmation of Full-Year 2024/25 Growth Targets

Q4 2022-23 Sales and Annual Sales: FY 2022-23

Quarterly Report of 11 bit studios: Three Months Ended 31 March 2024

FY25 Trading Update

FY2020 3rd Quarter Presentation Materials

FY23 Financial Results: Frontier Developments

FY2022 Consolidated Financial Results: Japan

FY2019 Fourth Quarter Financial Results

FY2019 Q1 Financial Results Briefing

Annual Report 2008

Dragon Quest: Reimagined

First-Quarter 2025-26 Sales: Nacon

First-Quarter 2023/24 Sales: Confirmation of 2023/24 Guidance

FY2020 Fourth Quarter Financial Results

Annual Report 2025: Review of Operations

Corporate Data: August 2025

Summary of main questions and answers at the FY2019 Second Quarter GREE results briefing held on February 4, 2019 PDF

Financial Highlights: 1st Quarter of the Fiscal Year Ending March 2017

Consolidated Financial Results for the Six Months Ended September 30, 2025: Japan