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Kakao Games Q4 2025 Earnings Announcement

Kakao Games reported a significant downturn in financial performance for the 2025 fiscal year, characterized by a lack of new title releases and increased investments in global expansion. Total annual revenue reached 465 billion KRW, representing a 25.9% year-over-year decline. The company shifted to an annual operating loss of 39.6 billion KRW, while the net loss widened to 143 billion KRW. This downward trend was particularly pronounced in the fourth quarter, where revenue fell to 98.9 billion KRW, a 25.8% decrease compared to the same period in the previous year. The mobile gaming segment, the company’s largest revenue driver, saw a 38.7% year-over-year decrease in the fourth quarter due to a vacuum in new content and major updates. Conversely, the PC gaming segment showed annual growth of 31.6%, though it experienced a 29.8% sequential decline in the fourth quarter as the high-base effect from major collaborations in PlayerUnknown’s Battlegrounds subsided. Operating expenses for the year were reduced by 17% through aggressive cost management, including labor restructuring and more selective marketing spend, yet these measures were insufficient to offset the revenue decline. Profitability was further impacted by non-operating factors, specifically the recognition of impairment losses on intangible assets, which contributed to a fourth-quarter net loss of 110.6 billion KRW. The consolidated balance sheet reflects these pressures, with total assets decreasing from 3.17 trillion KRW at the end of 2024 to 2.68 trillion KRW by the end of 2025. Despite the current losses, the company continues to focus on its long-term strategy of securing a new title pipeline and expanding its global footprint to stabilize future earnings.

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Kakao GamesFeb 2026

Financial

FY2025 & 4Q25 Earnings Results

Krafton’s fiscal year 2025 performance reflects a strategic pivot toward aggressive portfolio diversification and technological expansion, underpinned by the enduring strength of the PUBG franchise. Annual revenue reached KRW 3.3 trillion, representing a 23% year-over-year increase fueled by the transition to PUBG 2.0 on Unreal Engine 5 and the successful Early Access launches of new intellectual properties such as inZOI and MIMESIS, both of which surpassed one million units sold. Despite this top-line growth, annual operating profit declined by 11% to KRW 1.1 trillion, with a sharp contraction in the fourth quarter to KRW 2.4 billion. This margin compression resulted from heightened investment in a 26-title development pipeline and significant one-off costs associated with scaling production capabilities. The company’s financial position remains robust, with total assets expanding to KRW 9.4 trillion, driven by a substantial increase in intangible assets and physical infrastructure. While total liabilities more than doubled to KRW 2.2 trillion, equity remained stable at KRW 7.1 trillion, supported by healthy retained earnings. To maintain investor confidence amidst these heavy investment cycles, a shareholder return policy exceeding KRW 1 trillion has been established for the 2026–2028 period. Looking forward, the corporate strategy emphasizes securing a second flagship franchise through disciplined M&A and an annual KRW 300 billion investment in new title production. Beyond traditional gaming, growth initiatives are increasingly focused on the integration of artificial intelligence into game development and the exploration of "Physical AI" and humanoid robotics. This transition signals an intent to evolve from a software-centric publisher into a broader technology entity, leveraging its gaming expertise to capture emerging opportunities in robotics and advanced automation.

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KraftonFeb 2026

Financial

Consolidated Financial Results: FY3/26 – 3rd Quarter

Akatsuki Inc. achieved a significant financial turnaround in the third quarter of the fiscal year ending March 2026, characterized by a 79% year-over-year increase in consolidated sales to ¥6,581 million and a return to profitability with net income reaching ¥1,003 million. This performance was underpinned by a strategic reorganization into three core segments: Games & Comics, Entertainment & Lifestyle, and AI/DX Solutions. Growth was primarily catalyzed by the successful launch of Kaiju No. 8 The Game and the sustained operational efficiency of legacy titles such as Dragon Ball Z Dokkan Battle, which continues to drive revenue despite inherent seasonal fluctuations tied to major anniversary events. The company’s operational structure has shifted toward a model of selection and concentration, marked by strategic M&A activity and a reduction in research and development spending as major projects moved into the operational phase. While personnel and outsourcing costs rose due to the integration of new subsidiaries like PAPABUBBLE and Akatsuki AI Technologies, the core gaming workforce saw a downward trend in permanent staff. Investment activities remain a vital component of the corporate value proposition, with ¥2.2 billion in proceeds realized from exits, including one IPO and two M&A transactions, during the cumulative nine-month period. Future strategy focuses on global IP expansion and optimized capital allocation, supported by a strategic alliance and a commitment to shareholder returns. The company has established a plan to return between ¥10 billion and ¥15 billion to shareholders through fiscal year 2028, utilizing a progressive dividend policy. Despite a slight decrease in total assets to ¥57,687 million due to lower accounts receivable, the group maintains a robust financial position intended to support long-term growth across its diversified entertainment and technology portfolio.

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AkatsukiFeb 2026

Financial

Q1 FY2026 Presentation Material

CyberAgent achieved record-high consolidated sales of 232.3 billion yen and a nearly threefold increase in operating profit during the first quarter of fiscal year 2026. This performance was primarily catalyzed by the Game and Media & IP segments, which offset a minor decline in internet advertising revenue resulting from the loss of a major client. By reaching nearly 47% of its annual operating profit target within the first three months, the organization has established a robust financial trajectory for the remainder of the fiscal year. The Game business served as the primary engine for growth, recording a 69.2% year-over-year increase in sales and a fivefold surge in operating profit. This success was largely driven by the global performance of high-profile titles such as Jujutsu Kaisen Phantom Parade. Looking forward, the strategic focus remains on international expansion and the development of a diverse pipeline, including the North American launch of Umamusume: Pretty Derby and upcoming releases like hololive Dreams and Shadowverse: Worlds Beyond. These efforts are supported by extensive collaborative partnerships with major industry entities such as Shueisha, KADOKAWA, and Bandai Namco Entertainment. Simultaneously, the Media & IP segment reached a significant milestone as AbemaTV achieved independent profitability. The company is increasingly integrating animation studios and leveraging generative artificial intelligence to automate video advertisement production and optimize for emerging search technologies. This synergy between intellectual property development and technological innovation underscores a broader strategy to diversify revenue streams and solidify a global presence across the digital entertainment landscape.

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CyberAgentFeb 2026

Financial

GREE Holdings FY2026 Q2 Financial Results Briefing (Transcript)

GREE Holdings reported solid financial results for the second quarter of fiscal year 2026, characterized by improved profitability across its core business segments despite a downward revision in sales expectations. Consolidated net sales reached ¥12.7 billion with an operating profit of ¥0.4 billion. While the Game Business remains a primary revenue source, the company is increasingly reliant on its "continuous growth businesses"—VTuber, IP, and DX—to drive future earnings. Management has raised the full-year operating profit forecast from ¥3.6 billion to ¥4.4 billion, citing effective company-wide cost controls and strong performance in the VTuber sector. The Game Business generated ¥7.1 billion in quarterly sales, with existing titles performing better than anticipated and a new console game scheduled for announcement in the third quarter. The VTuber Business achieved record-high quarterly sales, driven by a 50% quarter-on-quarter increase in the Production Business. The IP Business returned to profitability due to delayed anime distribution revenue, while the DX Business focused on transitioning toward recurring earnings and potential M&A activity. Conversely, the Investment Business recorded an operating loss due to valuation losses on investee funds, though the company maintains a high-quality portfolio with steady asset accumulation. Geographically focused on the Japanese market with expanding overseas VTuber events, the report covers the three-month period ending in the second quarter of FY2026. The methodology involves a segment-by-segment financial analysis comparing quarterly and year-over-year performance. Leadership maintains that FY2026 represents an earnings floor, with a projected return to a growth trend in FY2027 and FY2028 as new game titles and production initiatives scale.

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GREEFeb 2026

Legal

Information Relative au Nombre Total de Droits de Vote et d’Actions Composant le Capital Social

Ubisoft Entertainment SA released its monthly regulatory disclosure regarding its share capital and voting rights as of January 31, 2026. This mandatory filing, submitted in accordance with the General Regulations of the Autorité des Marchés Financiers and the French Commercial Code, provides transparency for investors and regulatory bodies regarding the company's ownership structure. The data pertains specifically to Ubisoft’s listing on Euronext Paris under the ISIN code FR0000054470. As of the end of January 2026, the total share capital of the company consisted of 134,697,071 shares. The disclosure identifies two distinct categories of voting rights: gross and net. The total number of gross, or theoretical, voting rights reached 149,117,817. This figure serves as the official basis for calculating threshold crossings by shareholders. It includes all shares with attached voting rights, even those temporarily deprived of such rights, while excluding preference shares that lack voting rights entirely. The total number of net voting rights, which represents the actual votes exercisable at General Meetings, was also recorded at 149,117,817. This net figure is calculated by subtracting shares deprived of voting rights from the gross total. The alignment of gross and net figures suggests that, at the time of the report, there were no significant holdings of treasury shares or other instruments that would typically result in the suspension of voting rights. This monthly update ensures that the public remains informed of the company's capital composition and the precise metrics required for legal compliance regarding shareholder influence.

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UbisoftFeb 2026

Financial

Summary of Supplementary Explanations Q&A at the FY2026 Second Quarter GREE Holdings Results Briefing

GREE Holdings, Inc. outlines its strategic direction and financial outlook following the second quarter of fiscal year 2026, focusing on a structural shift away from the volatile Game Business toward more stable, continuous growth segments. Despite a downward revision to the full-year earnings outlook for FY2026 due to the softening performance of existing game titles, the long-term medium-term targets for FY2028 remain unchanged. This stability is supported by the steady expansion of the IP, VTuber, and DX Business segments, which are intended to reduce the company's reliance on hit-driven gaming revenue. The IP Business is diversifying through the Anime Business, specifically by adapting invested anime titles into games. To strengthen this pipeline, there is a strategic goal to acquire in-house anime production capabilities or pursue M&A within the next two to three years. This move aims to provide greater control over production quality and timing, which are viewed as essential for creating popular intellectual property. Simultaneously, the VTuber Business is expanding its monetization beyond traditional gifting. Pilot projects on the REALITY platform are testing merchandise sales and event-based revenue for both in-house talent and independent streamers, alongside new marketing solutions for corporate clients. In the DX Business segment, the focus remains on high-value consulting for end-user-facing services and entertainment. While generative AI and automated agents are expected to impact routine maintenance and labor costs in the broader industry, the specialized nature of creating fan-driven content is seen as resilient to automation. Consequently, technological advances in AI are not expected to negatively impact the DX segment in the near term. Overall, the strategy emphasizes leveraging human creativity and platform diversification to ensure stable, long-term earnings growth across the global entertainment and digital transformation markets.

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GREEFeb 2026

Financial

FY2026 Second Quarter Financial Results

Financial performance for the second quarter of fiscal year 2026 reflects a transitional period characterized by a 63% quarter-over-quarter decline in operating profit to ¥0.4 billion and a 12% year-over-year decrease in total sales to ¥12.7 billion. This downturn is primarily attributed to the absence of large-scale dividend distributions in the investment segment and underperformance within the core game business. Despite these challenges, the company maintains a robust financial position with an equity ratio of 70% and total net assets of ¥64.6 billion. Management identifies the current fiscal year as an earnings floor, projecting a significant recovery driven by a 48% profit compound annual growth rate through fiscal year 2028. The VTuber and DX segments have emerged as resilient growth drivers, with the VTuber production business achieving record-high quarterly sales and a 105% year-over-year increase in operating profit. While the game business faced a 24% decline in sales, operational efficiencies allowed profits to exceed internal expectations. The company has revised its full-year sales forecast downward to ¥52.4 billion but remains committed to its ¥4.4 billion operating profit target through rigorous cost controls and a strategic shift toward high-margin recurring revenue in the DX and platform sectors. Future growth is anchored in a diversified pipeline and strategic expansion into intellectual property. Key initiatives include the upcoming launch of a first-party console RPG and a major third-party IP title, alongside investments in anime production and merchandising capabilities. Although the investment business experienced a quarterly loss due to valuation adjustments, the underlying portfolio remains strong with an unrealized value of ¥22.4 billion and a 14% internal rate of return. By balancing stable management fees from its investment funds with the scaling of its digital production studios, the organization aims to transition toward a more sustainable, growth-oriented earnings structure.

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GREEFeb 2026

Financial

Q&A for 1Q FY2026 Operating Results Briefing

The first-quarter financial results for the fiscal year ending in 2026 reflect a strategic transition period for COLOPL, characterized by a lack of new releases and a focus on stabilizing existing mobile operations. Despite an anticipated decline in sales, the performance of established titles like Dragon Quest Walk and Alice Gear Aegis, alongside contributions from group companies, resulted in what leadership describes as solid progress. The company is currently navigating a challenging mobile market where the barrier to entry for new hits is rising, prompting a shift toward two primary development pillars: AI-powered titles and location-based games paired with globally recognized intellectual properties. Financial performance in the first quarter was impacted by extraordinary losses related to special severance payments from a Career Transition Support Program. While headcount has decreased, the resulting reduction in personnel expenses is not expected to materialize until the second quarter of 2026. Regarding long-term operations for legacy titles such as Shironeko Project, the strategy emphasizes user satisfaction and game-balance adjustments over aggressive cost-cutting to ensure longevity. The company is also diversifying its platform strategy beyond its core mobile business to include PC and console gaming. This is exemplified by the release of Kazuma Kaneko’s Tsukuyomi on Nintendo Switch, a title that originated as an exploration of generative AI in gaming. By establishing a new genre termed "Generative Games," the company aims to leverage AI-generated assets and systems across multiple hardware formats. Moving forward, the overarching goal remains achieving a "Global Top 20" position by integrating advanced technology with high-profile IPs and expanding the reach of its proprietary location-based gaming expertise.

market-analysis mobile japan+1

COLOPLFeb 2026

Financial

1Q FY Sep. 2026 Financial Results Presentation

COLOPL’s financial performance for the first quarter of the fiscal year ending September 2026 reflects a strategic pivot toward profitability through rigorous cost management despite a shrinking core user base. While net sales declined 10.2% year-on-year to 4.7 billion yen, the company successfully reversed previous losses to achieve an ordinary profit of 0.4 billion yen. This recovery was primarily facilitated by aggressive reductions in advertising expenditures. The company maintains a highly stable financial foundation, characterized by a 91.7% equity ratio, providing the necessary capital to fund its transition from a mobile-centric developer to a multi-platform entertainment entity. Operational data indicates significant headwinds in the mobile segment, with Quarterly Active Users dropping to 400,000 from a peak of 575,000 in 2022. This contraction is compounded by a long-term decline in Average Revenue Per User, which has fallen from 862 JPY to 680 JPY over the same period. To counter these trends, the growth strategy emphasizes expansion into the PC and console markets, highlighted by the upcoming April 2026 release of Kazuma Kaneko’s Tsukuyomi for the Nintendo Switch. Furthermore, investments in specialized game server services and location-based map distribution technologies aim to diversify revenue streams beyond traditional mobile gaming. The long-term vision targets a "Global Top 20" market position with ambitious goals of 100 billion yen in sales and 50 billion yen in operating profit. Achieving these benchmarks relies on integrating cutting-edge technology, including AI-powered titles and XR experiences for next-generation mobility. By leveraging strategic investments in firms like CORE, Inc. and focusing on high-value intellectual property, the objective is to stabilize the current user contraction while building a sustainable pipeline of cross-platform content that can compete on a global scale.

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COLOPLFeb 2026

Financial

Take-Two Interactive Q3 Fiscal Year 2026 Conference Call

Take-Two Interactive reported strong financial results for the third quarter of fiscal year 2026, ending December 31, 2025, significantly exceeding previous guidance. Net bookings reached $1.76 billion, driven by the outperformance of core franchises across the Rockstar Games, 2K, and Zynga labels. Recurrent consumer spending, a critical metric for the company’s long-term health, grew 23% year-over-year and accounted for 76% of total net bookings. Based on this momentum, management raised the full-year net bookings outlook to a range of $6.65 billion to $6.7 billion, representing 18% annual growth. The mobile segment served as a primary growth engine, with Toon Blast surpassing $3 billion in lifetime bookings and the direct-to-consumer business reaching record levels. Console and PC performance was bolstered by NBA 2K26, which saw a 30% increase in recurrent spending and daily active users, and the enduring popularity of Grand Theft Auto V, which has now sold over 225 million units. The company also highlighted the successful expansion of Red Dead Redemption to new platforms, including the Nintendo Switch 2 and mobile devices via Netflix. Looking ahead, the company confirmed a November 19, 2026, release date for Grand Theft Auto VI, with marketing scheduled to begin in the summer of 2025. This launch is expected to drive record net bookings in fiscal year 2027 and establish a higher financial baseline for the organization. Management also emphasized ongoing investments in artificial intelligence to improve development efficiencies and a robust multi-year pipeline that will be detailed in the next quarterly report. Operating cash flow expectations were nearly doubled to $450 million, reflecting increased confidence in the company's profitability and balance sheet strength.

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Take‑Two InteractiveFeb 2026

Financial

Third Quarter Fiscal 2026 Results & Guidance Summary

Take-Two Interactive’s Q3 Fiscal 2026 earnings presentation details a period of significant financial outperformance and an upward revision of its full-year outlook. For the third quarter ending December 31, 2025, the company reported Net Bookings of $1.757 billion, substantially exceeding its guidance range of $1.55 billion to $1.60 billion. This growth was primarily driven by a 23% increase in Recurrent Consumer Spending, fueled by the robust performance of NBA 2K, the Grand Theft Auto series, and key mobile titles such as Toon Blast and Empires & Puzzles. While the company reported a GAAP net loss of $93 million, this figure was at the favorable end of its guidance. Based on this momentum, management raised its Fiscal Year 2026 Net Bookings guidance to a range of $6.65 billion to $6.70 billion, representing 18% year-over-year growth at the midpoint. The company also increased its operating cash flow projections to approximately $450 million. These revised estimates reflect higher expectations for key titles in the fourth quarter, including a projected 37% annual growth for NBA 2K. The company maintains a strong liquidity position, supported by a transition in cash flow reporting as previously restricted cash became available for general use. The strategic outlook is centered on a massive multi-year release pipeline spanning Fiscal 2026 through 2028. High-profile upcoming launches include Civilization VII, WWE 2K26, and the highly anticipated Grand Theft Auto VI, which is officially scheduled for release on November 19, 2026. Management anticipates that these releases will drive record levels of Net Bookings in Fiscal 2027, establishing a higher financial baseline and long-term profitability. The scope of the report covers global operations across console, PC, and mobile segments, utilizing GAAP metrics alongside non-GAAP measures like EBITDA to evaluate operational health.

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Take-Two InteractiveFeb 2026

Presentation

Q3 for the Fiscal Year Ending March 2026 Results Presentation

Sega Sammy’s performance through the third quarter of the fiscal year ending March 2026 is characterized by a significant divergence between robust domestic gaming machine operations and substantial financial setbacks in the global consumer and mobile segments. While the Pachislot and Pachinko division exceeded expectations—driven by high-volume unit sales of titles like Smart Pachislot Tokyo Revengers—the broader group faces a projected net loss of 13.0 billion yen for the fiscal year. This downturn is primarily the result of 46.3 billion yen in extraordinary impairment losses related to the acquisitions of Rovio and Stakelogic, the latter of which was impacted by regulatory shifts in the Netherlands. The Entertainment Contents Business struggled with underperforming new full game launches and a deteriorating user acquisition environment for mobile titles, most notably Sonic Rumble. Consequently, management has pivoted from aggressive expansion to a period of consolidation, suspending large-scale M&A activities in favor of a 20.0 billion yen share buyback program. To restore profitability within the mobile sector, the strategy now emphasizes a "regrowth phase" for Rovio, leveraging AI-driven marketing efficiencies and a transmedia approach that includes major theatrical releases for the Angry Birds and Sonic franchises scheduled through 2027. Despite current headwinds, the medium-term outlook relies on a robust multi-platform pipeline and the expansion of the Gaming Business, which includes record-high performance at Paradise SegaSammy fueled by Japanese VIP demand. Upcoming releases for the Nintendo Switch 2 and the continued rollout of high-profile intellectual properties like Yakuza and Persona are intended to stabilize the consumer area. Geographically, the company remains focused on global markets while maintaining strict compliance with international gaming regulations in jurisdictions such as Nevada, which govern both corporate operations and shareholder requirements.

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Sega Sammy HoldingsFeb 2026

Legal

Announcement Regarding Candidates for Directors Including Directors Who Are Audit and Supervisory Committee Members

Nexon Co., Ltd. has announced its slate of candidates for the Board of Directors, including members of the Audit and Supervisory Committee. These appointments are scheduled for official resolution at the 24th Annual General Meeting of Shareholders on March 25, 2026. The selection reflects a mix of internal leadership continuity and the strategic addition of external expertise in legal, financial, and industry-specific domains. The proposed slate for general Directors includes current executives Junghun Lee (CEO), Shiro Uemura (CFO), Patrick Söderlund (Executive Chairman), and Daehyun Kang. Alexander Iosilevich, currently an Audit and Supervisory Committee member and Global President of NXC Corporation, is transitioning to a general Director role. Additionally, Kaoru Hattori, a partner at Nagashima Ohno & Tsunematsu with extensive legal and trade policy experience, is nominated as a new Outside Director. For the Audit and Supervisory Committee, the candidates include Shiro Kuniya, Naoya Tsurumi, and Hanmin Cho. Tsurumi brings significant gaming industry experience from his previous leadership roles at SEGA SAMMY HOLDINGS and SEGA CORPORATION. Cho, currently the Head of Investment Division (Korea) for NXC Corporation, provides expertise in private equity and accounting. All three committee candidates are designated as Outside Directors under the Companies Act, emphasizing the organization's focus on independent oversight and corporate governance. None of the new candidates currently hold shares in the company.

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NEXON Co.Feb 2026

Presentation

Financial Results Briefing FY2025

GungHo Online Entertainment is currently undergoing a fundamental strategic pivot, transitioning from a primary focus on the domestic Japanese mobile market toward a global, multi-platform distribution model. This evolution targets North America and Europe specifically through the development of action-oriented intellectual properties for console and PC. The success of this shift is evidenced by the dramatic rise in the overseas net sales ratio, which is projected to reach 66% in fiscal year 2025, up from just 11.4% in 2016. Key drivers for this international expansion include the upcoming launch of Let It Die: Inferno and the continued global scaling of the Ragnarok and Puzzle & Dragons franchises across more than 150 countries. Despite this aggressive geographic expansion, the company faces immediate financial headwinds characterized by a contraction in consolidated net sales and operating profit. Quarterly performance data reveals a downward trajectory over a four-year period, with peak values declining from over 16,000 to approximately 7,750 in the most recent quarter. This downturn is largely attributed to softening sales of legacy mobile titles and a reactional decrease in revenue from the subsidiary Gravity. To stabilize these core assets, the company is utilizing high-profile collaborations with major brands such as Sanrio and Digimon to maintain domestic user engagement while simultaneously preparing for the launch of Ragnarok Online 3 in major Asian markets. The long-term outlook centers on a diversified portfolio that balances established mobile revenue with new, high-scale global releases. While current financial indicators reflect a period of contraction and volatility, the commitment to 100-player raid mechanics in upcoming titles and the expansion of Ragnarok X: Next Generation into EMEA markets signal a move toward more technologically ambitious projects. Ultimately, the transition toward a global-first strategy represents a necessary adaptation to the maturing domestic mobile landscape, aiming to replace declining legacy revenue with sustainable growth from international console and PC audiences.

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GungHo Online EntertainmentFeb 2026

Financial

Summary of Financial Results for Fiscal Year Ended December 31, 2025 (Japanese GAAP)

Fiscal performance for the year ended December 31, 2025, reflects a period of significant structural transition as the organization grapples with a 17.5% year-on-year revenue decline to ¥6.86 billion. This downturn was primarily driven by the weakening performance of core mobile titles such as BLEACH Brave Souls and Captain Tsubasa: Dream Team, alongside a substantial ¥4.43 billion impairment loss on software assets related to EA SPORTS FC™ TACTICAL. These factors culminated in an operating loss of ¥1.30 billion and a net loss of ¥4.18 billion, a marked increase from the previous year’s deficit. Despite these operational challenges, the financial position remains stabilized through aggressive capital management and strategic divestment. Total net assets held steady at ¥10.30 billion, supported by ¥4.79 billion in proceeds from new share issuances and the sale of investment securities. Cash and cash equivalents rose to ¥5.21 billion, providing a necessary buffer as the company implements cost-cutting measures, including workforce reductions, office relocations, and the divestment of GlobalGear Co. Ltd. These actions aim to mitigate the volatility of the traditional mobile gaming segment, which saw profits drop from ¥1.13 billion to ¥830.5 million over the fiscal year. The strategic focus is now shifting toward the emerging GPU AI Cloud and AI Entertainment sectors to diversify revenue streams. The new GPU AI Cloud Business demonstrated promising initial growth, contributing ¥490.7 million in sales and signaling a pivot away from total reliance on the game business. While the adoption of revised accounting standards for income taxes had no material impact on the results, the massive impairment losses and subsequent net loss of ¥73.53 per share underscore the urgency of this pivot toward high-growth technology infrastructure and AI-driven entertainment.

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KLabFeb 2026

Financial

Reiwa 8 Fiscal Year Q3 Consolidated Financial Results (Japanese GAAP)

Nippon Ichi Software’s consolidated financial results for the third quarter of the fiscal year ending March 31, 2026, reveal a period of significant financial contraction and operational transition. Covering the nine-month period from April 1, 2025, to December 31, 2025, the data shows net sales fell 39.9% year-over-year to 2,221 million yen. The company reported an operating loss of 257 million yen and a quarterly net loss attributable to the parent of 164 million yen, representing a marked downturn compared to the previous year’s performance. The entertainment segment, which accounts for the vast majority of revenue, saw sales decline by 41.2% to 2,132 million yen. Despite the downturn, the company continued development on several 2026 titles, including Kyouran Makaism and Curse Warrior, while releasing Disgaea 7 Complete for the Nintendo Switch 2 in Western markets through its subsidiary, NIS America. A smaller secondary segment involving the operation of student dormitories in Gifu Prefecture saw a 24.0% increase in sales but remained loss-making at the operating level. The financial position remains stable with a 67.1% equity ratio and total assets of 11.6 billion yen, though the company has revised its full-year forecasts downward. Projections for the fiscal year ending March 2026 now anticipate a 34.4% decrease in annual sales to 3,475 million yen and a net loss of 296 million yen. These results are attributed to a challenging consumer environment and shifting release schedules. The methodology follows Japanese GAAP, and the figures have undergone a voluntary quarterly review by independent auditors.

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Nippon Ichi SoftwareFeb 2026

Financial

Management Policies Under New Management Structure

GungHo Online Entertainment’s 2026 management policy outlines a strategic leadership transition designed to accelerate global growth and enhance capital efficiency. Under the new structure, former CEO Kazuki Morishita transitions to a role focused exclusively on game development and pipeline expansion, while Kazuya Sakai, formerly the CFO, assumes the role of Representative Director, President, and CEO. This shift aims to balance creative output with disciplined financial management and improved dialogue with the equity market. The strategy focuses on four primary pillars: realizing global hit products, optimizing company-wide costs, strengthening the collaborative relationship with subsidiary Gravity, and promoting capital market-attuned management. A key operational priority is restoring the frequency of IP collaboration events, which saw a significant decline in FY2025, to drive stable revenue. Additionally, the company is implementing a new HR system and cost-benefit analysis framework to improve resource allocation and talent development. Financially, the policy introduces aggressive shareholder return measures and a refined cash allocation strategy. GungHo has established a new dividend policy based on a 4% Dividend on Equity (DOE) ratio, targeting a minimum payout ratio of 50%. For FY2025, the company scheduled an ordinary dividend of 90 yen per share, a significant increase from 60 yen in FY2024. Furthermore, the company announced a 5 billion yen share buyback and the cancellation of approximately 23.1% of its outstanding treasury shares. The scope of this policy covers the company’s global operations with a specific emphasis on the Japanese market and its relationship with Gravity’s Ragnarok IP. Of the approximately 70 billion yen in non-consolidated cash and deposits, 50 billion yen is earmarked for development and maintenance over the next five years, with the remaining 20 billion yen split between growth investments, such as M&A, and shareholder returns. Governance is also being strengthened by increasing the proportion of independent outside directors to 50%.

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GungHo Online EntertainmentFeb 2026

Report

Connecting Digital Investments and Real Estate: Malaysia’s Competitive Advantage

The analysis establishes that Malaysia’s competitive edge stems from the tight integration of digital investment flows with commercial‑real‑estate development, positioning the country as a regional hub for high‑value technology activities. By concentrating the majority of foreign digital capital within a narrow geographic corridor, the nation creates a synergistic environment where advanced infrastructure and specialized real‑estate assets reinforce each other, driving sustained economic benefits. Data reveal that 95 percent of approved digital‑investment projects, amounting to RM 342.6 billion, are located in the Klang Valley, Johor and Penang, with the Klang Valley alone accounting for roughly three‑quarters of total digital foreign direct investment. This region hosts a diversified portfolio that includes data‑centre and cloud services, fintech platforms, artificial‑intelligence applications, and global‑business‑services/KPO operations, collectively generating RM 13.9 billion in digital‑sector employment value. Johor’s contribution is anchored in large‑scale hyperscale data‑centre campuses, while Penang’s niche lies in semiconductor‑linked activities, offering targeted opportunities for developers. A streamlined MDLR framework, co‑created with the Malaysia Digital Economy Corporation, reduces digital‑real‑estate standards to four core criteria, shifting focus to building‑level attributes such as robust digital infrastructure, connectivity, energy resilience and security. This refined approach equips developers and investors with clear benchmarks to align property supply with the evolving demands of the digital economy, ensuring that real‑estate assets remain adaptable and future‑proof across the identified clusters.

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Malaysia Digital Economy Corporation (MDEC)Feb 2026

Financial

FY2026 First Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent’s consolidated financial results for the first quarter of fiscal year 2026, covering the period from October 1, 2025, to December 31, 2025, demonstrate significant growth in revenue and profitability. Net sales rose 14.0% year-on-year to ¥232.3 billion, while operating income surged 181.8% to ¥23.3 billion. This performance was primarily driven by record-high results in the Media & IP and Game segments. Notably, the subsidiary AbemaTV Inc. achieved its first quarterly operating profit since its 2015 inception, contributing to a 246.1% increase in Media & IP segment income. The Game Business served as a major growth engine, with net sales increasing 69.2% to ¥64.7 billion and operating income rising 427.2% to ¥17.6 billion, fueled by strong existing titles and international expansion. Conversely, the Internet Advertisement Business saw a 2.7% decline in sales and a 27.2% drop in operating income following the loss of a major client. The Investment Development Business also underperformed, reporting an operating loss of ¥552 million. Geographically focused on the Japanese market with expanding global IP interests, the report utilizes Japanese GAAP to detail the company's financial position. Total assets decreased to ¥524.6 billion, largely due to tax and dividend payments. Despite the strong first-quarter start, the full-year forecast remains unchanged, projecting net sales of ¥880 billion. The outlook suggests a potential year-on-year decline in annual operating income, ranging from 16.3% to 30.3%, as the company balances proactive content investment with fluctuating segment performances.

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CyberAgent, Inc.Feb 2026