Library

Game Publishing

FY2025 Consolidated Financial Results: Japan

FY2025 Consolidated Financial Results [Japanese GAAP] Listed company name: CyberAgent, Inc.(herein referred as the "Company") Listed stock exchange: TSE Prime Market Code No.: 4751 URL https://www.cyberagent.co.jp/ en/ Representative: Representative Director CEO, President Susumu Fujita Inquiries: Senior Managing Executive Officer ...

investment japan game-publishing+1

CyberAgent

Report

Integrated Report 2019

I N T E G R AT E D R E P O R T 2 0 1 9 The BANDAI NAMCO Group develops entertainment-related products and services in a wide range of fields, including toys, network content, home video games, amusement machines, amusement facilities, and visual and music content. “Dreams, Fun and Inspiration” are the Engine of Happiness.

game-publishing game-development global+1

Bandai Namco

Report

2023 Annual Report

Corporate Philosophyby providing unforgettable experiences This represents company's and the beliefs for which we stand. 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 ourcustomers or her of happiness.

market-analysis global game-publishing

Square Enix

Report

Universal Registration Document: 2019/2020

Société anonyme governed by a Board of Directors with share capital of €84,908,919 Registered office: 396/466, Rue de la Voyette, CRT 2, 59273 Fretin, France Registration number: 852 538 461 RCS Lille Métropole UNIVERSAL REGISTRATION DOCUMENT This universal registration document was approved on 7 July by the Autorité des Marchés Financiers (“AMF”) as the competent authority in respect of regulation (EU) 2017/1129.

market-analysis game-publishing mergers-acquisitions+2

Nacon

Report

First Half 2023/24 Results

NACON reports first‑half results for the 2023/24 fiscal year (1 April–30 September 2023) with sales of €70.8 million, a 8.7 % decline from the same period in 2022/23, largely due to a release schedule weighted toward the second half. Catalogue sales fell 9 % to €23.1 million, while back‑catalogue sales remained resilient at €21.2 million (down 1.8 %). Accessories revenue rose to €24.9 million, driven by a growing installed base of new consoles. Gross profit was €43.5 million (gross margin 64.2 %), up 3 percentage points year‑on‑year, and EBITDA reached €29.3 million, a 20.1 % increase to an EBITDA margin of 43.2 %. Operating income fell sharply to €3.7 million (5.4 % of sales) due to higher depreciation and amortisation (€25.6 million) and increased financial expense from higher interest rates and negative foreign‑exchange effects. Net income dropped 61.6 % to €3.2 million (4.8 % of sales). At 30 September, equity stood at €248.7 million and cash at €19.6 million, reflecting a strategy of funding development internally rather than through new borrowing. Development assets for 50 games total €118.1 million, and funds from operations were €22.0 million. The second half will feature a busy release schedule with over ten new titles, including high‑profile launches such as Robocop: Rogue City. Back‑catalogue sales are expected to continue growing, and the accessories segment should benefit from expanding console markets and new high‑potential products. NACON therefore anticipates strong sales and operating income growth for the full 2023/24 year.

market-analysis game-publishing investment+2

Nacon

Report

Fourth-Quarter 2023/24 Sales: Nacon

Nacon reported consolidated sales for the 2023/24 financial year, ending 31 March 2024. Fourth‑quarter sales rose 9.8 % to €41.0 million, with gaming revenue up 7.9 % to €26.4 million and catalogue sales of new titles increasing 16.3 % to €15.4 million. Back‑catalogue sales held at €11.0 million, while accessories grew 13.1 % to €13.8 million, driven by strong performance of the RIG 600 PRO headset and REVOLUTION 5 PRO controller. Non‑IFRS full‑year sales reached €170.7 million, up 9.5 % from €156.0 million in 2022/23; gaming contributed €104.0 million (14.9 % growth) and catalogue sales grew 21.2 %. Operating income expanded at a faster rate than revenue, signalling improving profitability. The company launched 19 games during the year, including high‑profile titles such as *Robocop: Rogue City* and *Cricket 24: Official Game of The Ashes*. Five new releases in the fourth quarter—*War Hospital*, *New Cycle*, *Garden Life*, *Welcome to Paradize*, and *Taxi Life*—performed well, supporting the catalogue growth. A pipeline of roughly 15 titles is planned for 2024/25, with early‑access successes like *Ravenswatch* and upcoming releases such as *Test Drive Unlimited: Solar Crown*. Nacon, part of the Bigben Group since 2019, operates through 16 development studios and a global distribution network covering 100 countries. The company will announce full‑year results on 3 June 2024 and outline its 2024/25 strategy thereafter.

market-analysis game-publishing investment+1

Nacon

Report

2022-23 Half-Year Results

Nacon’s first‑half 2022‑23 financials show a modest revenue increase of €77.5 million, up 6.2% year‑on‑year, driven primarily by its games segment. Game sales rose 72.3% to €47 million, with current‑catalogue titles such as *Vampire: The Masquerade®‑Swansong*, *Steelrising™* and *Session Skate Sim™* more than doubling sales to €25.4 million; back‑catalogue revenue grew 33.3% to €21.6 million. Accessories sales fell 34.7% to €28.5 million, reflecting a high base effect in the U.S. and a global headset market decline. Gross margin improved to €47.6 million (61.4% of sales) from 52.1% the previous year, largely due to a lower proportion of accessory revenue (37% versus 60%). EBITDA climbed 19.8% to €25.6 million, and current operating income surged 31.4% to €11.1 million (14.3% of sales). Net profit for the period rose 123.5% to €8.4 million, more than double the €3.8 million recorded in the same period a year earlier. Cash and equity positions remain solid, with shareholders’ equity at €241.5 million and cash reserves of €38.1 million, after a strategic reinvestment in development (50 titles, >€30 million CAPEX) and the acquisition of Daedalic (€34.1 million). Net debt increased to €63.6 million due to inventory build‑up amid component shortages. Management projects a slight uptick in full‑year 2022‑23 sales and operating income, citing delayed releases of major titles such as *Blood Bowl III* and *Chef Life*. Strong growth is anticipated for 2023‑24, underpinned by the upcoming *Lord of the Rings Gollum™* launch and continued publishing activity.

market-analysis game-publishing investment+2

Nacon

Report

First Half 2024/25 Results

NACON reports first‑half 2024/25 results for the six months ending 30 September 2024, showing a 13.6 % rise in sales to €77.0 million versus €67.8 million a year earlier. Gaming revenue increased 10.7 % to €45.7 million, while the accessories segment grew 16.6 % to €29.1 million, contributing to a higher gross margin of 65.8 % compared with 64.2 % in the prior year‑half. EBITDA fell 3.2 % to €28.3 million, largely due to the absence of non‑recurring earn‑out releases that had boosted the previous period; operating income declined 12.9 % to €3.2 million, representing 4.1 % of sales. Net income contracted 32.4 % to €2.2 million, reflecting a higher tax expense and lower pre‑tax profit of €0.9 million. Cash stood at €17.4 million against €26.2 million a year earlier, with net debt at €101.5 million after an €18.6 million capital increase in July 2024. Funds from operations rose to €26.2 million, and the company maintains a portfolio of 45 games under development with assets worth €110.5 million. Geographically, NACON operates through 23 subsidiaries and a distribution network in 100 countries. The company projects continued momentum in gaming releases—such as “Test Drive Unlimited: Solar Crown” and “MXGP: The Official Motocross Videogame”—and new premium accessories, expecting full‑year sales and operating income growth for 2024/25. The next key event is the third‑quarter sales announcement on 20 January 2025.

market-analysis investment game-publishing+2

Nacon

Report

FY 2020/21 Annual Results: Nacon

Nacon reported a robust FY 2020/21 performance, with sales rising 37.4 % to €177.8 million and current operating income increasing 43.8 % to €32.5 million, representing 18.3 % of sales. Gross margin improved to 52.6 % from 61.1 %, while EBITDA grew 24.7 % to €60.3 million (33.9 % of sales). Net profit reached €18.2 million, up 19.6 %, after accounting for a €5.1 million bonus‑share expense, a €1.5 million financial charge and €7.7 million in tax. Operating cash flow surged 146 % to €55.7 million, sufficient to cover CAPEX of €56.4 million and bank repayments, leaving cash and equivalents at €96.7 million. The company attributes growth to premium accessories, successful U.S. expansion, and a tripling of back‑catalogue sales. Forecasts for FY 2021/22 have been raised to €180–200 million in sales with a 20 % operating margin, driven by digital catalogues and new titles such as *RIMS Racing* and *Blood Bowl 3*. For FY 2022/23, sales targets are further increased to €230–260 million, maintaining a margin above 20 %, supported by studio acquisitions and high‑profile releases like *The Lord of the Rings*. Nacon, listed on Euronext Paris (ISIN FR0013482791), operates through 18 subsidiaries and a distribution network covering 100 countries, employing over 600 staff. The board has opted to retain earnings for reinvestment rather than distribute a dividend in FY 2020/21.

market-analysis investment game-publishing+2

Nacon

Report

An Agreement Regarding the Availability of Games in the Game Pass Subscription

The announcement informs shareholders that 11 bit studios S.A. is finalizing a licensing agreement with Microsoft Corporation to make the game “Death Howl” and two other titles from its publishing division available on Microsoft Game Pass. The deal, governed by Article 17(1) of the EU Market Abuse Regulation, will become effective in 2026 and is expected to influence the company’s financial performance for that year. Microsoft has already communicated to users that “Death Howl” will join Game Pass for PC on December 9, 2025, with the Xbox version following upon its console release. The agreement covers both PC and Xbox platforms, expanding 11 bit’s distribution reach within the subscription service. The company’s management board deemed it necessary to disclose this development promptly, citing regulatory obligations and the potential impact on investor expectations. No specific financial figures or detailed terms of the license are disclosed, but the timing and platform scope suggest a strategic partnership aimed at increasing revenue streams through subscription-based access. The report is limited to the Polish market, with implications for European investors, and covers the period up to the end of 2025, outlining anticipated effects in the 2026 fiscal year.

game-publishing monetization console+2

11 bit studios

Report

Annual Report and Consolidated Financial Statements 2024

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED Chairman’s statement 4 History and background 5 Strategy 7 Business model 9 Chief Executive’s review 14 Chief Financial Officer’s review 16 Environmental, social and governance (ESG) 18 Principal risks and uncertainties ...

game-publishing investment global+2

tinyBuild

Report

Financial Results for the Third Quarter of the Fiscal Year Ending March 2023

The quarterly financial release for the third quarter of fiscal 2023 presents a comprehensive overview of KOEI TECMO HOLDINGS’ performance, highlighting a decline in sales and profitability relative to the prior year. Total sales fell by 10.6 % from ¥49,439 million to ¥55,327 million, driven primarily by a 31.8 % drop in console package revenue and an 11.6 % decline in entertainment segment sales. Operating profit contracted by 15.2 %, from ¥27,127 million to ¥22,994 million, while ordinary and net profits fell 56.5 % and 52.4 %, respectively, reflecting the impact of a significant loss on derivative valuations amid volatile financial conditions. Geographically, Japan contributed 49.9 % of sales in FY22, down 7.6 % from the previous year, whereas overseas sales declined 13.6 %. North America and Europe experienced sharper contractions of 25.3 % and 29.7 %, respectively, while Asia’s share fell modestly by 7.0 %. Unit sales increased slightly overall (4.9 % YoY), with digital download units rising 11.7 %, indicating a shift toward digital distribution. The company’s strategic focus for the fourth quarter includes releases such as “WILD HEARTS,” “Wo Long: Fallen Dynasty,” and “FATAL FRAME: Mask of the Lunar Eclipse.” Staffing expanded by 15.7 % to 2,400 employees, and headcount growth was supported by the addition of a Vietnam subsidiary. Despite upward revisions to operating profit forecasts, the report underscores ongoing risks from market volatility and derivative exposure. Overall, the document conveys a cautious outlook, noting that while digital sales have gained share, traditional packaged game revenue remains under pressure, necessitating continued portfolio adjustments and cost management.

market-analysis game-publishing investment+3

Koei Tecmo

Report

Wyznaczenie daty premiery gry Bulletstorm VR

The report announces the official release date for the virtual‑reality title “Bulletstorm VR,” previously known by its code name “Thunder.” The announcement, issued by the board of PCF Group S.A. on 22 August 2023, confirms that the game will launch on 14 December 2023. Distribution channels include the META Oculus Store, Sony PlayStation Store, and Steam, ensuring multi‑platform availability across major VR ecosystems. The release decision follows a prior interim report dated 13 December 2021, indicating that the company has maintained a consistent communication cadence regarding its VR portfolio. The document cites Article 17(1) of the MAR Regulation as the legal basis for the disclosure, underscoring compliance with regulatory reporting requirements. No additional data on sales projections, target demographics, or regional rollout specifics are provided; the focus remains strictly on the release date and platform distribution. The concise nature of the communication suggests that the primary objective is to inform stakeholders, regulators, and potential consumers of the finalized launch schedule. The report’s brevity and formal tone reflect standard corporate disclosure practices for product release announcements within the gaming industry.

game-publishing game-development vr+4

PCF Group

Report

Factbook: Third Quarter of Fiscal Year Ending March 31, 2026

Marvelous Inc., listed on Tokyo’s Prime Market, released its third‑quarter financial results for the fiscal year ending March 31 2026. The company’s core business spans digital content, amusement, audio‑visual production and live entertainment, with a focus on original IPs and collaborations. Revenue rose to ¥29.1 billion in Q3, up 4.5% from the prior quarter and 10.6% year‑on‑year, driven primarily by digital content sales of ¥7.2 billion and amusement revenue of ¥3.0 billion. Gross operating profit reached ¥10.4 billion, a 12% increase over Q2 and a 9% rise versus the same period last year, reflecting improved cost control in production and marketing. Operating profit fell to ¥1.8 billion, a 12% decline from Q2, largely due to higher selling‑general‑administrative expenses of ¥8.6 billion compared with ¥7.9 billion in Q2. Net income attributable to shareholders was ¥1.5 billion, down 18% from Q2, with a net profit margin of 5.3%. The company’s cash‑flow position remained solid, with operating cash flow of ¥2.8 billion and a cash‑equivalent balance of ¥16.4 billion at quarter end. Geographically, the report covers Japan and overseas markets where Marvelous operates. The data derive from consolidated financial statements prepared under Japanese GAAP, covering all subsidiaries and affiliates. Key metrics such as return on equity (13.7%) and asset turnover (0.82) indicate healthy profitability, while dividend payout remained at 52% of net income. Overall, the quarter shows revenue growth but margin pressure from higher operating costs, prompting management to focus on cost efficiency and portfolio diversification.

market-analysis game-publishing game-development+3

Marvelous

Report

FY 2020/21 Sales Results: Nacon

Nacon reported FY 2020/21 sales of €177.9 million, a 37.5 % increase over the previous fiscal year and surpassing the revised target of €160–170 million. Gaming revenue remained flat at €69.1 million, while accessories sales surged to €103.2 million, up 96.1 %. The accessories boom was driven by premium RIG® headsets, licensed controllers, and new Xbox Series X|S accessories launched late in the year. Back‑catalogue game sales tripled to €31 million, contributing high margins and offsetting a slight decline in overall game sales. Digital game sales rose to 75 % of Q4 revenue, up from 70 % the prior year. Quarterly performance highlighted a strong fourth quarter: €42.6 million in sales, a 68.7 % increase over Q4 2019/20, with gaming and accessories both outperforming. The company’s strategy, outlined during its March 2020 IPO, included acquisitions of Neopica, Passtech Games, and BigAnt Studios, expansion into the U.S. market with RIG® accessories, and a licensing agreement with Microsoft for Xbox Series X|S. These moves are expected to lift sales and operating margins in FY 2022/23 and 2023/24. Nacon confirmed a 18 % operating income rate for FY 2020/21 and plans to revise its 2023 guidance upward. The company operates globally, with a distribution network in 100 countries and over 510 employees across 17 subsidiaries.

market-analysis game-publishing investment+2

Nacon

Report

Financial Results: First Half of the Fiscal Year Ending March 2022

The first‑half financial results for the fiscal year ending March 2022 demonstrate a 60.8 % increase in total sales, rising from ¥23.1 billion to ¥37.2 billion, driven largely by a 62.5 % rise in entertainment segment sales (¥21.7 billion to ¥35.2 billion). Operating profit doubled from ¥8.45 billion to ¥16.42 billion, a 94.4 % increase, while net profit grew by 53.2 % to ¥18.14 billion. The company’s overseas operations contributed 50.2 % of first‑half sales, with North America and Europe showing modest growth, whereas Asia maintained a 31.6 % share of sales but experienced a 60.6 % rise in operating profit. Digital distribution expanded markedly: console units sold increased by 19.7 % to 3,650 thousand copies, with a 13.2 % rise in overseas units; download sales grew by 58.9 % to 103,300 thousand copies worldwide, largely from mobile and online platforms. Revenue mix shifted toward digital: package downloads grew 48 %, DLC sales increased 8.7 %, and mobile/online revenue surged 96 % to ¥17.25 billion. Headcount rose by 3.1 % to 2,081 employees; cost of goods sold and selling‑general‑administrative expenses increased by 17.7 % and 15.4 %, respectively, reflecting higher investment in digital content and marketing. For the full year, management projects sales of ¥65 billion (a 7.7 % increase) and operating profit of ¥24.5 billion, maintaining the FY2023 target of ¥30 billion operating profit. The strategy emphasizes launching 5‑million‑copy console titles, annual releases of 2‑million‑copy titles, and mobile games with monthly sales of ¥2 billion. The company also plans to expand IP licensing, globalize existing franchises such as Atelier and Warriors, and pursue new IPs across animation, comics, and merchandise.

market-analysis game-publishing japan+2

Koei Tecmo

Report

Financial Results: Fiscal Year Ending March 2024

for the Fiscal Year Ending March 2024 FY22 FY23 Vs Previous Year Full Year Full Year Amount Ratio Amount Ratio Amount % Change Sales 78,417 - 84,584 - 6,167 7.9% Operating Profit 39,133 49.9% 28,494 33.7% △ 10,639 -27.2% Ordinary Profit 39,899 50.9% 45,741 54.1% 5,842 14.6% Net Profit 30,935 39.4% 33,792 40.0% ...

market-analysis game-publishing mobile+2

Koei Tecmo

Report

Raport bieżący nr 18/2024Ujawnienie opóźnionej informacji poufnej w sprawie rozpoczęcia przez PCF Group S.A. negocjacji w przedmiocie zawarcia umowy produkcyjno-wydawniczej z Krafton Inc.

PCF Group S.A. has officially disclosed the commencement of negotiations regarding a production and publishing agreement with Krafton Inc., a Seoul-based publisher. This disclosure follows the formal execution of a Master Services Agreement on September 10, 2024. The company had previously delayed the announcement of these negotiations, which began on July 11, 2024, to protect its legitimate business interests and prevent potential interference from competitors during the sensitive negotiation phase. The partnership centers on the development of a new game mode for an existing Krafton title, utilizing a work-for-hire model. This collaboration aligns with the strategic objectives outlined by PCF Group in early 2023, which prioritize securing high-quality work-for-hire opportunities with reputable industry partners. The agreement is structured as a framework, with specific operational details, project timelines, and compensation terms to be defined in subsequent statements of work. Management justified the initial delay in public disclosure by citing the uncertainty of the negotiation outcomes and the risk that premature release could lead to market misinterpretation of the company’s valuation. Throughout the delay period, the company maintained strict confidentiality protocols, including the maintenance of an insider list as required by regulatory standards. The disclosure confirms that the terms of the agreement are consistent with standard industry practices for similar development projects.

game-development game-publishing mergers-acquisitions+1

PCF Group

Report

FY2018 2Q Result Presentation

GREE, Inc. reported FY2018 second‑quarter results on February 2, 2018, with net sales of ¥19.5 billion and operating income of ¥2.3 billion, exceeding targets for both metrics. EBITDA reached ¥2.7 billion. Year‑on‑year growth was achieved, though quarter‑over‑quarter sales moderated by roughly 10 percentage points; operating margin remained at 12 %. The company attributed the sales dip to reduced advertising spend and lower commission fees, while cost controls on labor and outsourcing mitigated profit erosion. A strategic shift toward console gaming was announced, with the first title “The Fishing Star” slated for Nintendo Switch and a global release in development. Mobile game performance was bolstered by the launch of “Library Cross Infinite” and ongoing content updates for titles such as Another Eden, Danmachi, SINoALICE, SYMPHOGEAR, and Puchiguru Love Live. Five new mobile titles are approved for development, with three slated for release this fiscal year. The FY2018 Q3 forecast projects flat net sales at ¥19.5 billion and operating income of ¥2.5 billion, aiming for a year‑to‑date total of ¥60.6 billion. GREE plans to sustain growth through aggressive title reinforcement, overseas expansion, and cost discipline across mobile, console, VR, advertising, and media segments. The presentation covered financial performance, cost structure adjustments following overseas operation closures, and a pipeline of upcoming releases across multiple platforms.

market-analysis game-publishing mobile+2

GREE

FY2025 Consolidated Financial Results: Japan

Integrated Report 2019

2023 Annual Report

Universal Registration Document: 2019/2020

First Half 2023/24 Results

Fourth-Quarter 2023/24 Sales: Nacon

2022-23 Half-Year Results

Half-Year Financial Report: S1 2025/2026

First Half 2024/25 Results

FY 2020/21 Annual Results: Nacon

An Agreement Regarding the Availability of Games in the Game Pass Subscription

Annual Report and Consolidated Financial Statements 2024

Financial Results for the Third Quarter of the Fiscal Year Ending March 2023

Wyznaczenie daty premiery gry Bulletstorm VR

Factbook: Third Quarter of Fiscal Year Ending March 31, 2026

FY 2020/21 Sales Results: Nacon

Financial Results: First Half of the Fiscal Year Ending March 2022

Financial Results: Fiscal Year Ending March 2024

Raport bieżący nr 18/2024Ujawnienie opóźnionej informacji poufnej w sprawie rozpoczęcia przez PCF Group S.A. negocjacji w przedmiocie zawarcia umowy produkcyjno-wydawniczej z Krafton Inc.

FY2018 2Q Result Presentation