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Wojciech Ozimek: Profile and Expertise

Wojciech Ozimek has led one2tribe Sp. z o.o. for eleven years as CEO, overseeing organizational growth, product launches, sales and key client relationships. Under his direction the company has co‑created more than a dozen mobile and internet services, as well as several online games that collectively attract four million subscribers worldwide. Ozimek’s expertise lies in designing business‑oriented games, gamification solutions and educational titles, positioning him as a proponent of integrating gaming into everyday life. He has spoken at TEDx Kraków (2011) and Hewlett Packard/Warsaw (2012), frequently presenting at business‑gaming conferences in Poland and abroad, and co‑authored articles on gamification. Ozimek is a senior consultant with the international Cutter Consortium, contributing to “Business‑IT Strategies” and “Enterprise Architecture” teams. He authored the report “Storming the Cathedral: Collaborating for Innovation in Mobile Markets.” Within one2tribe he has led concept development for strategic projects, including a business model for interactive TV (iTVP) and advisory work on mobile content distribution for P4/Play, Heyah/PTC Era, and Polkomtel S.A. Prior to one2tribe, he managed the e‑business competency group and later served as Director of Development at Infovide (now Infovide‑Matrix), delivering architecture concepts for major clients such as Nordea Bank Polska, Telekomunikacja Polska S.A., PTC Era, Onet.pl, PTK Centertel and Kredyt Bank S.A. His notable project Nordea Solo earned the 2001 System Informatyczny Roku award. Ozimek’s earlier career included a role in the IT team at Telekomunikacja Polska S.A., where he implemented intranet solutions for the MikroBOK system, one of Poland’s first distributed data collection platforms. He holds a bachelor’s degree in Mathematics, Computer Science and Mechanics from the University of Warsaw. In recent years he has served on the boards of Flow Combine Sp. z o.o., SIP Consulting Sp. z o.o., and temporarily on the board of Flow Combine, a studio that published its sole title through 11 Bit Studios S.A. No records of insolvency, fraud convictions or court‑ordered prohibitions exist for Ozimek, and he has not held executive roles in companies undergoing bankruptcy or competing with 11 Bit Studios.

game-design mobile global+1

11 bit studios

Report

GungHo Business Report Vol. 42

GungHo Online Entertainment’s Vol. 42 report outlines the company’s strategic focus on expanding its two flagship intellectual properties—Puzzle & Dragons and Ragnarok—into global markets while sustaining robust financial performance. The report highlights that Puzzle & Dragons, launched in 2012, has achieved over 63 million downloads worldwide and continues to drive user engagement through frequent events, cross‑media collaborations, and a 13th‑anniversary release in May 2025. The Ragnarok franchise, managed by subsidiary Gravity Co., Ltd., has expanded from its original PC MMORPG roots to mobile and console titles, with recent releases such as Ragnarok X (PC/Android/iOS) and LUNAR Remastered Collection targeting Latin America, Southeast Asia, and other regions. Financially, consolidated net sales rose from ¥125.3 billion in 2022 to ¥103.6 billion in 2024, with operating profit increasing from ¥27.9 billion to ¥17.5 billion over the same period. Overseas sales ratio climbed from 39.3 % in 2022 to 47.7 % in 2024, reflecting successful international penetration. The company maintained a dividend payout ratio above 30 % and executed treasury‑share repurchases totaling ¥9.86 billion in 2024, underscoring a commitment to shareholder value. Methodologically, the report aggregates data from internal analytics on downloads, MAU, and revenue across more than 150 countries in 11 languages. It also references quarterly performance metrics and event‑based user activity to gauge engagement. Overall, the document presents a cohesive narrative of sustained growth through IP expansion, diversified platform presence, and disciplined financial management.

game-publishing mobile console+4

GungHo Online Entertainment

Report

Conclusion of an Agreement Concerning the Availability of Games within the Game Pass Program

The agreement, finalized on December 2 2025 between 11 bit studios S.A. and Microsoft Corporation, grants Microsoft the right to host the game “Death Howl” and two additional titles from 11 bit’s publishing division on its Game Pass subscription platform. The licensing deal is expected to influence the company’s financial performance in 2026, as noted by the Management Board. The announcement follows a prior report issued on December 2 2025, and it is disclosed under Article 17(1) of Regulation (EU) No 596/2014, which governs market‑abuse disclosures. The agreement’s scope is limited to the specified titles and their availability on Microsoft’s Game Pass service, with no broader geographic or product implications indicated. No further details regarding revenue projections, user reach, or contractual terms are provided in the brief disclosure. The communication is directed at shareholders and market participants to ensure compliance with EU transparency requirements, emphasizing that the licensing arrangement will be reflected in the company’s 2026 financial statements.

game-publishing monetization investment+3

11 bit studios

Report

2023 Annual Report: Tencent Holdings

7 MANAGEMENT DISCUSSION AND ANALYSIS 85 CORPORATE GOVERNANCE REPORT 85 CORPORATE GOVERNANCE REPORT 119 INDEPENDENT AUDITOR'S REPORT 119 INDEPENDENT AUDITOR’S REPORT 128 CONSOLIDATED INCOME STATEMENT 128 CONSOLIDATED INCOME STATEMENT 129 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 130 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 133 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 137 CONSOLIDATED STATEMENT OF CASH FLOWS 139 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1...

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Tencent

Report

2022/23 Full-Year Results

NACON reported consolidated results for the year ended 31 March 2023, with sales holding steady at €156.0 million compared to €155.9 million in 2021/22, while operating income rose 29.8 % to €17.3 million (11.1 % of sales). Gross margin increased markedly from 49.9 % to 59.1 %, driven by a shift in product mix that reduced the proportion of accessories sales from 62 % to 39 %. Net income climbed 28.1 % to €12.8 million (8.2 % of sales), supported by a 12.0 % rise in pre‑tax income and lower tax expense. The Gaming segment delivered a 66.3 % sales increase to €90.5 million, offset by a 36.6 % decline in Accessories sales to €61.2 million, largely due to console shortages that compressed the global accessories market. EBITDA after IFRS 2 and non‑recurring items reached €48.9 million, up 25.5 % year‑on‑year and representing 31.4 % of sales. Financially, equity stood at €242.6 million with €47.6 million in cash and equivalents; net debt was €67.3 million after taking a €46.5 million medium‑term loan to fund acquisitions, including Daedalic Entertainment. Cash flow rose 2.8 % to €45.5 million, and the Board opted not to declare a dividend for 2022/23. For 2023/24, NACON plans a heavy release schedule of roughly 20 games versus 13 the previous year, including high‑profile titles such as The Lord of the Rings Gollum™ and official sports games. The Accessories business is expected to recover as console installations grow and new high‑potential products launch, underpinning confidence in strong growth for the coming year.

market-analysis investment france+1

Nacon

Report

1st Half 2022/23 Sales

NACON reported first‑half sales of €77.5 million for FY 2022‑23, a 6.2 % increase over the same period in 2021‑22. Quarterly performance showed a strong 25.8 % rise in the first quarter (€42.4 million) followed by a 10.6 % decline in the second quarter (€35.2 million). Game sales dominated revenue, rising 72.3 % to €47.0 million; catalogue (new releases) grew 130 % to €25.4 million, while back‑catalogue sales increased 33 % to €21.6 million. Accessories revenue fell sharply by 34.7 % to €28.6 million, reflecting a high base effect and a global headset market downturn; mobile and audio sales remained flat. Geographically, the decline in accessories was most pronounced in the United States. The company highlighted upcoming releases—WRC Generations, Blood Bowl 3, Chef Life, Clash, and Transport Fever 2 Console Edition—expected to bolster catalogue sales in the second half. Despite a shortfall against forecasted catalogue targets, NACON anticipates year‑end sales and operating income to rise relative to the prior year due to back‑catalogue strength, though it will miss FY 2022‑23 targets of €250 million in sales and €50 million in operating income. Looking ahead to FY 2023‑24, NACON expects growth driven by late‑year releases feeding the back catalogue and a diversified publishing slate. The company maintains confidence in its medium‑term prospects, citing synergies from its 16 studios and a global distribution network of 23 subsidiaries.

market-analysis game-publishing console+3

Nacon

Report

Bushiroad Announces Bushiroad EXPO 2026

Bushiroad Inc. announces the return of its global event series, Bushiroad EXPO 2026, expanding to 20 regions worldwide. The inaugural 2026 venues are Taipei, Bangkok, and Chicago, each slated to host exhibitions, stage events, trading card game (TCG) demo sessions, and merchandise sales. The expansion follows the successful 2024 and 2025 editions, indicating a strategic push to broaden international reach and fan engagement. The event will showcase Bushiroad’s diverse portfolio, including trading card games, console titles, music releases, stage performances, anime content, and related merchandise. While specific schedules and featured contents remain to be announced, the press release highlights a commitment to delivering a varied and immersive experience across multiple markets. The initiative reflects Bushiroad’s intent to strengthen its global presence, leveraging the popularity of its intellectual properties and community-driven events. The announcement is directed at fans and partners, underscoring gratitude for ongoing support and inviting participation in the expanded expo series.

marketing global asia+2

Bushiroad

Whitepaper

Environmental Game Design Playbook

The Environmental Game Design Playbook, presented by the IGDA Climate Special Interest Group, serves as a strategic framework for integrating ecological themes and sustainable practices into game development. Its primary thesis posits that game designers possess a unique cultural leverage to influence player attitudes toward the climate crisis through immersive storytelling, mechanics, and systems design. By moving beyond simple educational tropes, the framework encourages developers to embed environmental consciousness into the core loop of gameplay, fostering a deeper understanding of planetary boundaries and collective action. The scope of this initiative is global and cross-platform, addressing developers across indie, AA, and AAA segments. It emphasizes that environmental themes are not restricted to specific genres but can be effectively woven into RPGs, strategy games, and simulations alike. Key findings suggest that players are increasingly receptive to narratives involving sustainability, provided they are integrated authentically rather than as didactic afterthoughts. The guidance covers a broad spectrum of design choices, from the representation of biodiversity and resource management to the technical optimization of code to reduce the carbon footprint of hardware during play sessions. Methodologically, the playbook draws on interdisciplinary research combining climate science with established game design theory. It highlights the importance of systemic thinking, where players experience the long-term consequences of their in-game environmental choices, thereby mirroring real-world ecological complexities. By focusing on agency and positive solution-building rather than purely apocalyptic scenarios, the framework aims to empower the gaming community to contribute to global climate goals. Ultimately, the objective is to transform the medium into a tool for environmental literacy while maintaining high standards of entertainment and player engagement.

game-design player-behavior global

IGDA Climate Special Interest Group

Report

Strong Earnings Growth: 2023/24 Full-Year Results

NACON reported a robust financial year for 2023/24, with consolidated IFRS sales rising to €167.7 million from €156.0 million, a 7.5 % increase. Gross profit climbed to €104.2 million, up 13.1 %, pushing the gross margin to 62.1 % of sales. EBITDA surged by 45 % to €70.9 million, translating into a margin of 42.3 %. Operating income grew 20.5 % to €20.9 million, representing 12.5 % of sales, while net income rose 37.3 % to €17.5 million, or 10.5 % of sales. The company’s equity strengthened to €263.6 million, and net debt fell to €85.2 million, reflecting disciplined borrowing and repayment. Key drivers included a heavy new‑game release schedule of 19 titles, notably the successful Robocop: Rogue City™ which lifted catalogue sales by 21.2 % to €59.3 million. Back‑catalogue sales increased 7.4 % to €44.7 million, and accessories revenue rebounded to €62.7 million, buoyed by new hardware launches such as the RIG 600 PRO headset and REVOLUTION 5 PRO controller. Inventory levels were trimmed by €8.2 million, and operating cash flow rose 54.4 % to €73.1 million. Looking ahead, NACON plans a busy 2024/25 release calendar of around 15 games and aims to consolidate its racing‑market presence through a dedicated Racing department, the Revosim by Nacon brand, and new premium peripherals. The strategy positions NACON as a unique provider of integrated racing games and accessories worldwide, with expectations of continued sales and operating‑income growth.

market-analysis investment france+1

Nacon

Report

Financial Highlights: 1st Quarter of Fiscal Year Ending March 2018

Financial highlights for KOEI TECMO HOLDINGS CO., LTD. cover the first quarter of fiscal year ending March 2018, comparing results to FY2017 and a forecast for the full year. Net sales fell 15.3 % to ¥37,034 million, driven by a 14.8 % decline in the entertainment segment and a 40.7 % drop in pachislot & pachinko revenue, while amusement facilities grew modestly by 0.7 %. Gross profit decreased 10.7 % to ¥17,211 million, and operating income contracted 16.4 % to ¥8,781 million; however, income before taxes surged 239.8 % to ¥15,211 million due largely to a sharp rise in operating income from the entertainment segment. Net income increased 182.5 % to ¥11,624 million, reflecting higher profitability in core gaming operations. Segment‑level operating income mirrored sales trends: entertainment contributed ¥7,815 million (−16.9 % YoY), pachislot & pachinko ¥736 million (−48.9 % YoY), and amusement facilities ¥27 million (−20 %). Forecasts for the full year project net sales of ¥42,000 million (+13.4 % YoY) and operating income of ¥11,500 million (+31.0 % YoY), indicating a recovery trajectory. Balance‑sheet data as of June 30, 2017 show total assets at ¥113,530 million and liabilities at ¥9,077 million, with shareholders’ equity of ¥104,452 million. Current assets declined from ¥26,689 million to ¥20,387 million, largely due to reduced cash and time deposits. Current liabilities fell from ¥11,460 million to ¥7,354 million, driven by lower trade payables and short‑term loans. The company’s liquidity position remains solid, with a current ratio above 2:1 and a debt‑to‑equity ratio below 0.09, supporting continued investment in gaming and entertainment assets across Japan during the fiscal year.

market-analysis investment japan+1

Koei Tecmo

Report

Adjust Guide to Deep Linking

This technical guide outlines the strategic importance and functional mechanics of deep linking within the mobile app ecosystem. The primary thesis is that deep links are essential tools for streamlining the user experience, reducing friction, and driving higher conversion rates compared to standard mobile web interfaces. By directing users to specific in-app content rather than generic homepages, marketers can significantly improve retention and re-engagement through targeted campaigns across email, social media, and SMS. The scope of the analysis covers the technical distinctions between three primary types of links: default, deferred, and contextual. Default deep links function only when an app is already installed, while deferred deep links—facilitated by specialized SDK integrations—route non-users to the appropriate app store before delivering them to the intended internal page upon installation. The guide also examines platform-specific solutions like Apple’s Universal Links, noting their ability to prevent error messages while highlighting limitations regarding attribution data and support within major apps like Facebook. Key data points emphasize the commercial impact of native app environments, noting that consumers purchase at three times the rate of the mobile web. Furthermore, with 70% of emails opened on mobile devices, the integration of deep links into owned media channels is presented as a critical driver of revenue. The conclusion suggests that as digital interactions expand into voice, television, and automotive platforms, deep linking and cross-device tracking will remain the foundational technology for maintaining a cohesive and measurable mobile marketing strategy.

marketing user-acquisition mobile+1

Adjust

Report

Financial Highlights: 1st Half of the Fiscal Year Ending March 2016

Koei Tecmo Holdings reported its first‑half financial results for the fiscal year ending March 2016, showing a 5.9 % decline in net sales to ¥37.8 billion compared with the same period a year earlier, while full‑year sales are projected to rise 5.8 % to ¥40 billion. Gross profit fell 8.1 % to ¥17.1 billion, and operating income dropped 24.8 % to ¥9.7 billion; net income decreased 3.4 % to ¥9.4 billion, reflecting a modest 0.7 % increase over the full‑year forecast of ¥9.5 billion. Segment analysis indicates that Game Software sales declined 10.1 % to ¥24.9 billion, whereas Online & Mobile sales grew 6.8 % to ¥6.7 billion, and Media & Rights sales rose 5.4 % to ¥26.2 billion. Pachislot & Pachinko and Amusement Facilities segments experienced sharp declines of 17.1 % and 17.6 %, respectively, while Real Estate sales increased 67.7 %. Operating income was strongest in Game Software (¥7.8 billion) and Online & Mobile (¥1.3 billion), with Media & Rights showing a 155.4 % decline. Balance‑sheet highlights show total assets reduced from ¥115.2 billion to ¥101.5 billion, largely due to a drop in investment securities and current assets. Current liabilities fell from ¥10.9 billion to ¥6.0 billion, and long‑term liabilities decreased from ¥3.6 billion to ¥1.1 billion, improving liquidity and leverage ratios. Shareholders’ equity remained stable at ¥92.2 billion, with retained earnings slightly lower. The company’s financial position remains solid, though operating performance is pressured by declines in core gaming and amusement segments.

market-analysis investment japan+1

Koei Tecmo

Whitepaper

XR Association's Developers Guide: Accessibility & Inclusive Design in Immersive Experiences

The XR Association’s guidance on accessibility and inclusive design emphasizes that immersive technologies must be developed with a diverse range of human abilities in mind to ensure equitable access to the spatial computing landscape. The primary objective is to move beyond retrofitted solutions by integrating inclusive design principles into the earliest stages of the development lifecycle. By addressing sensory, motor, and cognitive differences, developers can create virtual, augmented, and mixed reality experiences that are usable by individuals with permanent disabilities, temporary injuries, or situational limitations. Key findings highlight that accessibility in XR requires a multi-modal approach to interaction and information delivery. For users with visual impairments, this includes high-contrast interfaces, spatial audio cues, and screen reader compatibility. For those with hearing loss, the guidance stresses the importance of directional captions and haptic feedback to convey environmental sounds. Motor accessibility is addressed through flexible input mapping, allowing for seated play, one-handed controls, and the reduction of required physical range of motion. Furthermore, cognitive accessibility focuses on minimizing sensory overload and providing clear, consistent navigation to prevent user fatigue or disorientation. The scope of these recommendations covers the global immersive technology industry as of late 2020, focusing on software development across gaming, enterprise training, and social VR platforms. The methodology relies on a synthesis of industry best practices and established accessibility standards, such as the Web Content Accessibility Guidelines, adapted for three-dimensional environments. Ultimately, the analysis concludes that inclusive design not only expands the potential market reach for XR products but also improves the overall user experience for all participants by providing more intuitive and flexible interfaces.

diversity-inclusion vr ar+1

XR Association

Report

Financial Results for the Fiscal Year Ending March 2020

The fiscal year ending March 2020 saw KOEI TECMO HOLDINGS achieve record‑high profitability, with sales rising 9.4 % to ¥42.6 billion and operating profit increasing 16.6 % to ¥14.1 billion, a 33.1 % operating margin that tops the company’s historical peak. Net profit climbed 11.8 % to ¥15.3 billion, supported by gains on securities and real‑estate sales, offsetting higher fixed costs from expanded development capacity. The company’s earnings plan for FY 2019 was surpassed, largely due to the licensing‑out success of “Romance of the Three Kingdoms Senryaku‑ban,” which generated substantial royalty income, and strong performance in new console titles such as Nioh 2. Geographically, overseas sales grew 27.1 % to ¥15.8 billion, with Asia contributing the largest share of growth (52 % increase in unit sales). Digital downloads and DLCs also expanded, with console download sales up 39.6 % to ¥7.9 billion and DLC revenue rising 35.2 %. The entertainment segment’s online/mobile division drove a 42.4 % jump in mobile and social game revenue, reflecting successful IP licensing and self‑developed titles. Operationally, headcount rose 4.4 % to 1,835 employees, and capital expenditures reached ¥14.3 billion for the new Minato‑Mirai office and music hall. Management emphasized cautious earnings guidance for FY 2020 amid COVID‑19 uncertainty, while outlining a mid‑term strategy focused on global IP creation, multi‑platform expansion, and ESG commitments. Dividend policy maintained a 50 % payout ratio, with FY 2019 dividends planned at ¥61 per share.

market-analysis investment japan+1

Koei Tecmo

Report

Surveying the Effects of Remote Communication & Collaboration Practices on Game Developers Amid a Pandemic

The sudden transition to remote work during the COVID-19 pandemic fundamentally altered the operational landscape for game development, forcing a rapid adoption of digital communication tools and decentralized workflows. This shift impacted various facets of production, from creative collaboration and technical pipeline management to the personal well-being of developers. While the industry was already technologically equipped for digital integration, the mandatory nature of the transition highlighted significant disparities in how different studio sizes and roles adapted to a lack of physical proximity. Data indicates that while many developers reported maintained or even increased individual productivity, the social and collaborative elements of game design suffered. The absence of spontaneous, "watercooler" interactions led to a perceived decline in creative synergy and increased the difficulty of onboarding junior staff. Furthermore, the blurring of boundaries between professional and personal life contributed to heightened levels of burnout and "Zoom fatigue." Technical challenges, such as accessing high-end hardware remotely and managing large asset builds over residential internet connections, initially hindered development velocity before studios implemented more robust cloud-based solutions. The long-term implications suggest a permanent pivot toward hybrid work models within the global games industry. Developers expressed a strong preference for the flexibility of remote work, yet acknowledged the necessity of intentional communication strategies to mitigate isolation. Moving forward, the success of game studios depends on balancing the logistical benefits of a distributed workforce with the need for structured social engagement and specialized tools that replicate the collaborative environment of a physical studio. This evolution marks a critical turning point in how digital entertainment is conceived and produced in a post-pandemic era.

game-development employment global+1

International Game Developers’ Association

Report

FY2022 Financial Results: Koei Tecmo Holdings

Koei Tecmo Holdings reports FY2022 financial results, emphasizing continued growth in its core gaming segment while expanding into ancillary IP‑licensing and merchandise ventures. Revenue rose 12 % year‑over‑year to ¥45.3 billion, driven primarily by strong performance of flagship titles such as “Ryza 3” and “Monster Farm.” Net income increased to ¥8.7 billion, reflecting improved operating efficiency and cost management across development and marketing functions. The company highlights a strategic shift toward multi‑platform releases, with several titles launched simultaneously on consoles, PC, and mobile. International sales accounted for 38 % of total revenue, up from 34 % in FY2021, underscoring successful penetration into North American and European markets. In addition to core game sales, Koei Tecmo introduced a new licensing‑out program that generated ¥1.2 billion in ancillary income, including collaborations with global IP holders and the launch of branded apparel and food products. Methodologically, figures derive from consolidated financial statements audited by an independent firm. The report references quarterly operating metrics and segment‑level breakdowns, though it does not disclose survey data or external market research. Geographic coverage spans Japan (the primary operating base), North America, Europe, and select Asian markets, with a focus on the 2022 fiscal year ending March 31. The company projects continued expansion of its IP‑licensing portfolio and anticipates further revenue diversification through cross‑media tie‑ins, while acknowledging risks related to market volatility and competitive dynamics.

market-analysis investment console+3

Koei Tecmo

Wojciech Ozimek: Profile and Expertise

Half-Yearly Report: 29 November 2020

GungHo Business Report Vol. 42

Half-Year Report of 11 bit studios S.A.: H1 2025

Conclusion of an Agreement Concerning the Availability of Games within the Game Pass Program

2023 Annual Report: Tencent Holdings

2022/23 Full-Year Results

1st Half 2022/23 Sales

Bushiroad Announces Bushiroad EXPO 2026

Half-Yearly Report: 2022-2023

Annual Report 2015

Environmental Game Design Playbook

Strong Earnings Growth: 2023/24 Full-Year Results

Financial Highlights: 1st Quarter of Fiscal Year Ending March 2018

Adjust Guide to Deep Linking

Financial Highlights: 1st Half of the Fiscal Year Ending March 2016

XR Association's Developers Guide: Accessibility & Inclusive Design in Immersive Experiences

Financial Results for the Fiscal Year Ending March 2020

Surveying the Effects of Remote Communication & Collaboration Practices on Game Developers Amid a Pandemic

FY2022 Financial Results: Koei Tecmo Holdings