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FY2022 Fourth Quarter Financial Results

FY2022 Fourth Quarter Financial Results ◼ Net sales ¥74.9 billion, operating income ¥11.5 billion, Full- ⁃ Achieved YoY growth in sales and income year ∙ Produced several hits in the Game Business FY22 ∙ Made aggressive investments in the Metaverse Business and made progress in Actual ∙ developing it into a global business Strengthened the media potential of our Advertising and Media Business and ◼ Net sales ¥20.9 billion, operating income ¥3.8 bill...

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GREE

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Ustalenie daty premiery gry „INDIKA”

The release date for the adventure title “INDIKA” has been officially set for 8 May 2024. The game will launch worldwide on PC and next‑generation consoles, including Xbox Series X/S and PlayStation 5. Digital distribution will be handled through major global platforms such as Steam, GOG and the Epic Games Store. “INDIKA” is a narrative‑rich adventure set in an alternate 19th‑century Russian backdrop, developed by the Kazakh studio Odd Meter and published by 11 bit Studios S.A. The publisher has pledged a portion of sales proceeds to support children affected by the war in Ukraine, underscoring a charitable component tied to the title. The announcement originates from 11 bit Studios’ board, with Przemysław Marszał serving as Chairman and Michał Drozdowski as a board member. The communication references Article 17(1) of the MAR for confidentiality purposes, indicating that the information is protected under relevant legal provisions. The release strategy focuses on digital channels and aligns with contemporary distribution trends in the gaming industry, targeting a global audience across multiple high‑profile platforms. The statement serves to inform stakeholders and the public of the finalized launch schedule, distribution partners, and social responsibility initiative associated with “INDIKA.”

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11 bit studios

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Conference Call: Q1 2023

Modern Times Group’s first-quarter 2023 performance reflects a period of stabilization and strategic adjustment within its global gaming portfolio. The company reported revenues of SEKm 1,306, representing a 4% year-on-year decline in reported revenue and an 11% decrease in organic revenue. This contraction is primarily attributed to challenging year-over-year comparisons, specifically regarding post-pandemic demand for InnoGames and platform incentive payments received by PlaySimple in the first quarter of 2022. Despite these headwinds, the company maintained an adjusted EBITDA of SEKm 263, achieving a 20% margin that remained stable on a like-for-like basis. The portfolio demonstrates divergent performance across segments. PlaySimple and Ninja Kiwi delivered strong underlying growth, with Word Games maintaining its position as the company’s strongest franchise for the fifth consecutive quarter. Conversely, the Strategy and Simulation segment experienced a difficult start to the year, though it showed signs of gradual improvement toward the end of the quarter. User engagement metrics indicate that growth in the Word Games category successfully offset challenges in acquiring new players for the Strategy and Simulation titles during the early months of the period. Financially, the company retains a robust balance sheet, characterized by a strong cash position and significant debt capacity. This liquidity supports ongoing operational requirements and provides flexibility for future mergers, acquisitions, and shareholder value initiatives. While free cash flow was impacted by earnout payments, the underlying cash conversion rate remains healthy at 51% for the quarter. The company continues to leverage its diverse intellectual property across multiple genres to navigate shifting market conditions and stabilize performance across its international gaming operations.

market-analysis mobile casual+1

Modern Times Group

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FY2023 Fourth Quarter Financial Results Briefing

GREE, Inc. reported FY2023 full‑year net sales of ¥75.4 billion and operating income of ¥12.5 billion, marking year‑on‑year growth across its diversified portfolio. The fourth quarter delivered ¥20.1 billion in sales and ¥5.0 billion in operating income, with the Investment Business providing a notable earnings boost while other segments performed near expectations. The company restructured its reporting from two to four business segments—Game and Anime, Metaverse, DX, and Commerce—to better reflect expanding domains. Game and Anime sales were slightly weakened by a post‑anniversary dip in Heaven Burns Red, yet overall profitability remained strong due to reduced advertising costs and investment contributions. Metaverse operations, split into platform, VTuber, B2B, and Web3 sub‑units, continue to invest heavily; FY24 sales are projected at ¥8.1 billion with operating income near break‑even, while FY26 targets a shift to profitability across all sub‑units. DX focuses on marketing and operational digital transformation services, forecasting FY24 sales of ¥5.7 billion with stable operating income, and FY26 aims for ¥7.9 billion in sales and ¥1.2 billion in income. Commerce, anchored by aumo Inc., expects FY24 sales of ¥1.5 billion and modest operating income, with a projected FY26 rise to ¥3.3 billion and ¥0.4 billion income as HR media initiatives mature. Investment activities remain a key driver, with assets under management at ¥80 billion and significant distributions from fund exits and startup investments. The company projects consolidated FY24 operating income between ¥4.0 billion and ¥5.0 billion, excluding new game titles, while FY26 forecasts maintain a similar range with an anticipated 10 % return from investment holdings. GREE’s strategy emphasizes diversifying revenue streams beyond games, expanding overseas distribution, and building a multi‑layered development pipeline to stabilize earnings and support medium‑term growth.

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GREE

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FY2023 Third Quarter Financial Results: GREE

GREE reported FY 2023 third‑quarter results with net sales of ¥22.2 billion, operating income of ¥4.2 billion and EBITDA of ¥4.3 billion, reflecting a 15.7 % QoQ rise in sales and a 23.8 % YoY increase compared with the same period in FY 2022. Operating income grew 15.8 % QoQ, driven by the Internet and Entertainment Business (¥1.8 billion) and Investment and Incubation Business (¥2.4 billion). The company highlighted strong performance of its flagship title *Heaven Burns Red*, which achieved No. 1 sales rankings in Japan and several overseas markets following a one‑year anniversary event and aggressive promotional spending. Global distribution of the title began in February 2023, with Korean and traditional Chinese versions launching smoothly. Cost analysis shows advertising expenses rising to ¥3.08 billion QoQ, largely due to upfront promotional investments for app games, while commission fees increased to ¥4.11 billion as sales expanded. Total costs climbed by ¥3.08 billion QoQ to ¥17.93 billion. GREE’s investment arm maintained a total AUM of ¥75.0 billion, with FoF and CVC investments generating high long‑term returns (IRR 23 % for FoF, 20 % for CVC). The company’s dividend policy targets a consolidated payout ratio of at least 20 %, with a planned per‑share dividend of ¥11, consistent with the FY 2022 level. Geographically, operations span Japan, Korea, China, and North America, with the Metaverse Business expanding through REALITY XR cloud and VTuber talent agency FIRST STAGE PRODUCTION. The company projects stable FY 2023 income, acknowledging a potential profit decline following the strong FY 2022 hit‑title performance.

market-analysis investment metaverse+3

GREE

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FY2023 First Quarter Financial Results

The FY2023 first‑quarter results show a net sales volume of ¥16.6 billion, operating income of ¥1.6 billion and EBITDA of ¥1.7 billion, reflecting a decline from the previous year’s strong performance driven by hit titles such as *Heaven Burns Red*. Net sales fell 4.3 % QoQ and operating income dropped 2.3 % QoQ, largely due to reduced sales in the Internet and Entertainment Business after FY22’s peak. Operating income margin contracted from 23 % in Q4 FY22 to 9.5 % in Q1 FY23, with variable costs rising by ¥2.0 billion to ¥15.0 billion. Cost structure analysis indicates advertising and commission fees were the largest expense categories, with commission fees decreasing by ¥1.27 billion QoQ due to lower sales. Labor and rental costs remained relatively stable, while other operating expenses fell slightly. Total cost reductions of ¥2.0 billion QoQ helped offset revenue declines. Strategic initiatives highlighted include aggressive investment in the Metaverse Business, where global downloads of *REALITY* surpassed 10 million across 63 countries, and expansion of content communication features. The Entertainment segment continued to leverage *Heaven Burns Red* through storyline extensions, anniversary campaigns, and merchandise collaborations, maintaining high App Store rankings. The Investment and Incubation arm reported a total AUM of ¥78.9 billion, up ¥7.3 billion QoQ, driven by gains in venture fund valuations and new investments in Japanese and U.S. startups. Overall, the quarter demonstrates a shift from FY22’s high‑growth momentum to a more stable income outlook, with continued focus on IP development, Metaverse expansion, and venture investment to sustain long‑term earnings.

market-analysis investment mobile+2

GREE

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Ubisoft announces a major organizational, operational and portfolio reset to reclaim creative leadership and restore sustainable growth

Ubisoft announces a comprehensive reset aimed at restoring creative leadership and sustainable growth amid a more selective AAA market. The strategy centers on three pillars: a new operating model, a refocused portfolio with an updated three‑year roadmap, and organizational rightsizing. The operating model introduces five Creative Houses—each genre‑focused, fully responsible for development, publishing, and financial performance—supported by a Creative Network of studios and shared Core Services. This structure is intended to accelerate decision‑making, deepen specialization in Open World Adventures and GaaS‑native experiences, and embed generative AI initiatives. Portfolio adjustments include discontinuing six titles that fail new quality thresholds, extending development timelines for seven games to meet higher standards, and reallocating resources toward high‑potential IPs such as “March of Giants.” These changes are expected to reduce net bookings for FY26 by roughly €330 million and push non‑IFRS EBIT into the negative, reflecting one‑off depreciation costs. Free cash flow is projected between –€400 million and –€500 million, with net debt rising to €150–250 million. Cost‑reduction efforts target a total fixed‑cost savings of approximately €500 million since FY22, with an accelerated €100 million cut already achieved by March 2026 and a further €200 million planned over the next two years, bringing fixed costs to about €1.25 billion by March 2028. The reset is set to take effect in early April, with a revised FY26–27 financial outlook to be released in May.

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Ubisoft

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FY2021 Fourth Quarter Financial Results Briefing

GREE Inc. reported FY2021 full‑year net sales of ¥56.8 billion, operating income of ¥5.4 billion and EBITDA of ¥6.2 billion, marking year‑on‑year growth in operating income despite a decline in net sales driven by the transfer of its fashion commerce unit and weaker media performance amid COVID‑19. Net income rose to ¥13.5 billion, largely supported by gains from investment‑fund operations and the sale of securities, including an IPO. In Q4, net sales reached ¥13.9 billion and operating income hit ¥1.5 billion, surpassing forecasts; net income for the quarter was ¥4.2 billion, buoyed by investment‑security gains and deferred tax recoveries. The company’s strategic focus centers on three pillars: games, the newly renamed Metaverse business (formerly live entertainment), and advertising/media. Game operations remain stable with multiple new titles slated for release, while global distribution expanded to 72 countries. The Metaverse segment will receive aggressive promotion and development investment, targeting a user base expansion in the U.S. and worldwide; FY22 may see short‑term operating losses of several hundred million yen from upfront promotion costs. Advertising/media profits will be reinvested to sustain growth. GREE’s investment and incubation arm is reclassified as an operating business, aiming for a >10 % return and contributing to long‑term profitability. The company targets an ROE of 10 % or higher, supported by capital efficiency improvements and continued investment in its three growth engines.

market-analysis investment live-ops+3

GREE

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Q1 2025 Investor Presentation

The Modern Times Group Q1 2025 investor presentation outlines a period of significant financial expansion, primarily driven by the strategic acquisition of Plarium. The company reported a 79% year-over-year increase in net sales in constant currencies, reaching SEK 2,557 million for the quarter. This growth is supported by a 6% organic sales increase, reflecting sustained performance across the company’s existing gaming portfolio. Key operational metrics highlight the impact of the Plarium integration, which contributed to a shift in revenue streams and user development. The company maintained a healthy adjusted EBITDA margin of 24% for the quarter, despite increased investment in marketing to scale new and established titles. Cash flow remains a central pillar of the company’s financial health, with SEK 538 million generated from operations in Q1 2025 and a free cash flow of SEK 143 million after accounting for earnout payments. The company’s leverage ratio stands at 0.82x, supported by an LTM EBITDA of SEK 3,058 million. The scope of the presentation covers the global gaming operations of the company, with a specific focus on the transition period following the February 1, 2025, consolidation of Plarium. The portfolio includes a diverse range of franchises, such as strategy, simulation, racing, and word games. Looking ahead, the company maintains a positive outlook for the full year 2025, projecting organic sales growth between 3% and 7% and an adjusted EBITDA margin in the range of 21% to 24%. Future performance is expected to depend on disciplined marketing investments, the successful scaling of new game titles, and continued geographical expansion efforts.

market-analysis investment global

Modern Times Group

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FY2021 First Quarter Financial Results Briefing

FY2021 first‑quarter results for GREE, Inc. show a robust financial performance with net sales of 15.2 billion yen and operating income of 1.6 billion yen, exceeding forecasts and achieving an operating margin above 10 %. Net income rose sharply by 3.2 billion yen compared to the prior quarter, largely due to a valuation loss on investment securities and a partial reversal of deferred tax assets. EBITDA reached 1.8 billion yen, underscoring healthy profitability. The company’s game business drove the growth, highlighted by the global launch of SINoALICE on July 1st across 139 countries. Coin consumption in the app increased by 40 % from the previous quarter, and existing titles maintained strong sales momentum. Fixed costs fell by 1.41 billion yen, with a further 580 million yen reduction after excluding one‑time expenses, attributed to restructuring and lower outsourcing costs. The company also announced a share repurchase program capped at 20 million shares and 12 billion yen to enhance shareholder returns. Strategic expansion into China continued with the September release of DanMachi and a November launch of Another Eden, supported by local partners. The live‑entertainment platform REALITY added new content and avatar options, while the advertising and media segment grew its user base to over 10 million monthly users. Looking ahead, GREE plans to release two to three new in‑house titles annually, including Assault Lily: Last Bullet and licensed properties such as One‑Punch Man, with additional projects in development. The company expects operating income for Q2 to remain in the mid‑to‑high hundred million yen range, reinforcing its earnings pillars across game, live entertainment, and advertising/media businesses.

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GREE

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FY2020 1Q Financial Results Presentation

The presentation reports fiscal year 2020 first‑quarter results for a Japanese entertainment company. Net sales reached 15.8 billion yen, operating income was 1.2 billion yen and EBITDA 1.3 billion yen, surpassing the mid‑to‑high hundred‑million yen forecast and maintaining a stable operating margin despite a quarter‑on‑quarter sales decline driven by post‑anniversary event effects and the transfer of some game titles to improve profitability. Cost controls, particularly a 1.5 billion yen reduction in advertising and outsourcing expenses, offset the sales drop and kept operating income flat. An extraordinary income from equity issuance related to a listing event contributed positively to net income. Geographically, the company expanded its flagship title “DanMachi” into 27 European markets and continued global distribution in Japan, Asia, North America, and Europe. The live‑entertainment segment launched a reality virtual platform, hosting festivals and new program formats to broaden content offerings. The advertising and media arm focused on strengthening community engagement through targeted campaigns and anime tie‑ins, while the game development pipeline aimed to release two new titles in FY 2020 and plan four to six additional releases for FY 2021. Methodologically, the figures derive from consolidated financial statements and internal cost‑tracking systems. The outlook for Q2 projects operating income around 0.5 billion yen, with increased advertising spend to activate promising titles and a continued decline in browser game revenue. The company’s investment securities, notably the Bushiroad listing, are expected to continue appreciating in value.

market-analysis game-development game-publishing+5

GREE

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FY2019 3Q Presentation: Financial Results

The presentation reports FY2019 Q3 financial results, highlighting net sales of ¥17.6 billion and operating income of ¥1.6 billion, both near forecasted targets with operating income exceeding expectations. Net sales were slightly impacted by one‑off events, reducing revenue by ¥390 million; after adjusting for these, organic sales were ¥17.25 billion and operating income ¥1.09 billion, indicating stable profitability despite a modest sales decline. Cost structure improvements—particularly reduced fixed costs through outsourcing and operational restructuring—offset higher advertising spend on overseas launches such as “Another Eden.” Geographically, the company expanded its overseas distribution footprint, launching self‑distribution in eight countries for “Another Eden” and achieving a 1.5× increase in daily active users following a global collaboration with “Date A Live.” Domestic and overseas sales volumes have converged, supporting the company’s strategy to balance core titles with new IPs. New first‑party IP “AFTERLOST” entered pre‑registration, with a planned end‑of‑fiscal‑year release in Japan, Hong Kong, and Taiwan. The live entertainment arm “REALITY” continues to grow its VTuber viewing app lineup, while media and advertising partnerships broaden content offerings. The Q4 forecast projects net sales of ¥17–18 billion and operating income of ¥1–1.5 billion, driven by anniversary events for flagship titles, ongoing overseas expansion, and the launch of “AFTERLOST.” The company maintains a stable investment level in promotions and development, anticipating future upside if new titles achieve hit status. The analysis is based on quarterly financial statements, operational metrics, and strategic rollout plans presented by senior management.

market-analysis game-publishing investment+3

GREE

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FY2019 Second Quarter Financial Results

The FY2019 second‑quarter results show net sales of ¥17.7 billion and operating income of ¥1.0 billion, with EBITDA at ¥1.2 billion. Net sales fell 0.43 % QoQ and 1.73 % YoY, while operating income declined 0.65 billion yen QoQ and 1.37 billion yen YoY, largely due to full‑scale development investment and a revision of variable cost transactions from earlier quarters. Operating income margin contracted to 5.4 % from 7.3 % in the prior quarter, and EBITDA margin fell to 6.8 %. Variable costs rose by ¥200 million QoQ, driven mainly by increased commission fees and outsourcing expenses for new title development. Advertising spend decreased from 7.0 % to 5.0 % of sales, reflecting a shift toward more efficient marketing. Geographically, the company expanded overseas distribution for several IPs: DanMachi and SINoALICE entered Hong Kong, Taiwan, and North America; Another Eden launched in eight countries; Fishing Star debuted on Nintendo Switch across 38 markets. Domestic mobile sales remained strong, with paid‑service revenue at ¥14.07 billion and other sales (ads, CS, licenses) at ¥3.66 billion. The forecast for Q3 projects net sales of ¥16.5–17.5 billion and operating income of ¥0.3–0.8 billion, anticipating continued overseas expansion, withdrawal from unprofitable titles, and ongoing development investment. The company’s balance sheet shows total assets of ¥125.45 billion and cash reserves of ¥86.99 billion, supporting its growth strategy across mobile, console, and live‑streaming segments.

market-analysis game-publishing mobile+4

GREE

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FY2013 Second Quarter Financial Results

The quarterly financial release outlines a mixed performance for FY2013 second quarter, with net sales rising 4 % QoQ to ¥39.4 billion but falling 5 % YoY, while EBITDA and operating profit declined sharply by 6 % and 9 %, respectively. Net profit remained flat QoQ at ¥9.0 billion but dropped 29 % YoY, reflecting higher costs and a one‑time currency gain. Consolidation of Pokelabo in October contributed to the QoQ sales growth, and the company noted a 35 % increase in cost of sales driven by higher labor and advertising expenses, alongside a 60 % rise in depreciation. Geographically, Japan remains the core market; coin consumption grew QoQ by 600 million coins, with strong performance in native titles such as “Driland” and IP‑based releases. Overseas coin consumption has been rising monthly since October, with new in‑house and co‑branded games expected to contribute from Q3 onward. The company plans aggressive smartphone investments in H2, targeting hit titles across new genres (MMO, FPS) and leveraging efficient marketing to balance lifetime value against cost per install. The revised FY2013 forecast reflects a downward revision of net sales to ¥170 billion (−17.9 % from prior forecast) and operating profit to ¥60 billion (−32.4 %). The outlook hinges on postponed releases in H2 and continued hiring to support smartphone growth, with anticipated increases in customer‑support and compliance costs. Overall, the report signals a strategic pivot toward diversified game genres and international expansion while managing cost pressures in a competitive mobile gaming landscape.

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GREE

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Financial Results for the Q3 of the Fiscal Year Ending March 2026

Financial results for the fiscal year ending March 2026 show a modest decline in consolidated sales, falling 1.6 % to ¥52,570 million from the previous year’s ¥51,729 million. Operating profit decreased by 3.3 % to ¥15,075 million, while ordinary and net profits fell 6.2 % and 5.5 %, respectively, reflecting a 1.6 % drop in entertainment‑business revenue and unchanged overall costs. Employment costs rose by ¥1,540 million, whereas outsourcing and advertising expenses fell slightly, keeping total cost trends flat. Segment analysis indicates a 2.5 % decline in entertainment sales, driven by weaker online/mobile performance; however, amusement‑facility revenue rose 10.8 % to ¥3,436 million, and real‑estate sales increased modestly. The company’s earnings forecast for FY25 remains unchanged: projected sales of ¥92,000 million (up 10.6 % from FY24), operating profit of ¥31,000 million (down 3.5 % from FY24), and net profit of ¥27,000 million (down 28.2 %). Dividend per share is projected at ¥43, a 28.3 % reduction from FY24. Methodology relies on consolidated financial statements and explanatory materials released via the corporate IR portal; data cover Japan‑based operations across entertainment, amusement, real estate, and other segments. The forecast assumes stable cost structures, no major temporary expenses, and an exchange rate of ¥140 per dollar. The company emphasizes a medium‑term strategy focused on expanding its title pipeline and strengthening human capital to support long‑term growth toward a top‑10 global position.

market-analysis investment japan+1

Koei Tecmo

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Financial Results for the Q3: Fiscal Year Ending March 2026

The quarterly briefing outlines KOEI TECMO HOLDINGS’ financial performance for the third quarter of fiscal 2026, highlighting a modest decline in consolidated sales to ¥52.57 billion from ¥51.73 billion, a 1.6 % year‑on‑year drop driven primarily by weaker online and mobile segments. Operating profit fell to ¥15.08 billion, a 3.3 % decline, while ordinary and net profits decreased by 6.2 % and 5.5 %, respectively, reflecting higher employment costs offset by reduced variable expenses. Segment analysis shows entertainment sales contracted by ¥1.25 billion, whereas amusement and real‑estate units posted gains of ¥333 million and ¥34 million, respectively. The company’s earnings forecast for FY25 remains unchanged, projecting sales of ¥92 billion and operating profit of ¥31 billion, with a 28.2 % drop in net profit to ¥27 billion and a dividend reduction of 28.3 % to ¥43 per share. Cost trends indicate employment expenses rising by roughly 10 % annually, while outsourcing and advertising costs are lower than the initial FY25 forecast. New console/PC titles such as “NINJA GAIDEN 4” and “Hyrule Warriors: Age of Imprisonment” contributed to a 2.3 billion yen increase in that segment, whereas online/mobile sales declined by ¥3.8 billion despite the launch of two new mobile titles. The company emphasizes a balanced pipeline strategy, combining major releases with mid‑tier and licensed IPs to stabilize revenue streams. The outlook for Q4 focuses on multiple console/PC releases, including “Nioh 3,” and continued promotion of existing mobile titles, with advertising spend expected to rise but no significant new capital expenditures anticipated.

market-analysis investment japan+1

Koei Tecmo

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Consolidated Financial Results: FY2025 2nd Quarter Data Appendix

The consolidated financial appendix presents quarterly and annual performance for FY22 through FY25, focusing on sales, cost of sales, gross profit, SG&A, operating profit, and net profit across entertainment, amusement, real‑estate, and other segments. Sales peaked in FY25 Q4 at ¥28,978 million, driven largely by the entertainment segment (¥27,619 million), while cost of sales rose proportionally, resulting in a gross profit margin decline from 62 % in FY22 Q1 to 30 % by FY25 Q2. Operating profit fluctuated, with a notable dip in FY24 Q3 (¥4,673 million) before rebounding to ¥16,139 million in FY25 Q4. Net profit followed a similar pattern, reaching ¥17,458 million in FY25 Q4 after a negative result in FY24 Q3. Segment analysis shows entertainment consistently dominates revenue, contributing over 90 % of total sales, with amusement and real‑estate providing modest but stable contributions. Geographic revenue distribution indicates Japan remains the largest market (≈49 % of total sales), followed by North America and Asia excluding Japan, with overseas ratios ranging from 35 % to 55 %. Headcount grew from 2,413 employees in FY22 Q1 to 2,873 by FY25 Q4, reflecting expansion. Capital expenditure totals ¥789 million in FY22 and increased to ¥1,967 million in FY24, with real‑estate and equipment investments comprising the bulk. Digital sales maintain a high digital ratio (≈70 %) and online/mobile units account for 60–80 % of total sales units, underscoring a strategic shift toward digital platforms. Overall, the data illustrate robust revenue growth driven by entertainment titles, moderate margin compression due to rising costs, and a strategic emphasis on digital distribution across multiple regions.

market-analysis investment japan+1

Koei Tecmo

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FY2025 1st Quarter Data Appendix: Koei Tecmo

Koei Tecmo’s FY2025 first‑quarter financial appendix presents consolidated performance for the fiscal year 2024, with comparative data through FY2023 and projections to FY2025. Sales rose from ¥18.7 billion in Q1 2024 to ¥21.4 billion in Q1 2025, driven by a 20% increase in the Entertainment segment and a 30% rise in the Amusement division. Gross profit improved to ¥15.3 billion, reflecting a higher gross margin of 82% versus 78% in the prior year. Operating profit climbed to ¥11.7 billion, with SG&A costs rising modestly to ¥3.6 billion as marketing spend increased in the online and mobile sectors. Segment analysis shows Entertainment sales of ¥17.8 billion, Amusement ¥0.6 billion, Real Estate ¥0.3 billion, and Other ¥0.08 billion in Q1 2024, with Entertainment maintaining the largest share at 95%. Regional revenue distribution highlights Japan as the leading market (¥9.1 billion, 49% of total), followed by North America (¥2.7 billion) and Asia excluding Japan (¥6.0 billion). Overseas sales accounted for 51% of total revenue, up from 46% in the previous year. Capital expenditures totaled ¥789 million for FY2024, with real estate and equipment investments of ¥526 million and ¥263 million respectively. Depreciation expense reached ¥1.6 billion, consistent with prior periods. The appendix also details major series performance, noting that “Dynasty Warriors” and “Nobunaga’s Ambition” collectively exceed 30 million units sold, while online/mobile titles such as “DEAD OR ALIVE Xtreme Venus Vacation” and “Romance of the Three Kingdoms: Hadou” have sustained multi‑year service periods. Overall, Koei Tecmo demonstrates steady growth across core entertainment offerings, with strategic emphasis on digital and mobile platforms to sustain revenue momentum.

market-analysis investment japan+1

Koei Tecmo

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Consolidated Financial Results: Nine Months Ended December 31, 2024

Koei Tecmo Holdings reported consolidated financial results for the nine months ended December 31, 2024 under Japanese GAAP. Net sales fell 14.0 % to ¥52,570 million from ¥61,136 million in the same period a year earlier, reflecting weaker demand for its gaming and entertainment products. Operating profit declined 25.8 % to ¥15,075 million from ¥20,316 million, while ordinary profit remained relatively stable at ¥33,144 million versus ¥33,825 million. Profit attributable to owners of parent decreased 3.6 % to ¥25,161 million from ¥24,283 million, with basic earnings per share rising modestly to ¥79.67 from ¥76.95. Total assets contracted 2.8 % to ¥238,377 million, driven by a reduction in current assets and a modest increase in property, plant, and equipment. Net assets rose 10.3 % to ¥195,702 million, improving the capital adequacy ratio from 71.1 % to 81.7 %. The equity base increased by ¥20,013 million, supported by retained earnings growth and a slight rise in treasury shares. Dividend policy remained unchanged for fiscal year 2025, with no forecasted dividend changes. The company projected full‑year net sales of ¥90 000 million, operating profit of ¥30 000 million, ordinary profit of ¥40 000 million, and attributable profit of ¥30 000 million, representing modest year‑on‑year increases in sales and operating metrics. Methodologically, the report relied on consolidated financial statements prepared under Japanese GAAP with no significant changes in consolidation scope or accounting policies. The data cover the Japanese market, covering gaming and entertainment segments for the period April 1–December 31, 2024.

market-analysis investment japan+1

Koei Tecmo

FY2022 Fourth Quarter Financial Results

Ustalenie daty premiery gry „INDIKA”

Conference Call: Q1 2023

FY2023 Fourth Quarter Financial Results Briefing

FY2023 Third Quarter Financial Results: GREE

Responsibility Report 2020: Partners for Greater Purpose

FY2023 First Quarter Financial Results

Ubisoft announces a major organizational, operational and portfolio reset to reclaim creative leadership and restore sustainable growth

FY2021 Fourth Quarter Financial Results Briefing

Q1 2025 Investor Presentation

FY2021 First Quarter Financial Results Briefing

FY2020 1Q Financial Results Presentation

FY2019 3Q Presentation: Financial Results

FY2019 Second Quarter Financial Results

FY2013 Second Quarter Financial Results

Financial Results for the Q3 of the Fiscal Year Ending March 2026

Financial Results for the Q3: Fiscal Year Ending March 2026

Consolidated Financial Results: FY2025 2nd Quarter Data Appendix

FY2025 1st Quarter Data Appendix: Koei Tecmo

Consolidated Financial Results: Nine Months Ended December 31, 2024