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Bushiroad Inc., a Japanese entertainment company, reported first‑quarter fiscal 2026 results for the period July 1 to September 30, 2025. Net sales rose 12.2% year‑over‑year to ¥13,766 million, driven by stronger performance across its core card game and event‑ticket businesses. Operating profit surged 226.6% to ¥1,668 million, while ordinary profit reached ¥1,932 million, a reversal from the previous year’s operating loss of ¥510 million. Profit attributable to owners of parent companies stood at ¥1,663 million, up from a loss of ¥59 million in the same quarter of fiscal 2025. Earnings per share, adjusted for a 2‑for‑1 stock split effective October 1, 2025, climbed to ¥12.27.

Total assets for the quarter were ¥47,971 million, with net assets of ¥26,844 million, reflecting an equity‑to‑asset ratio increase to 52.7% from 47.7% in fiscal 2025. Net assets per share were not disclosed due to the recent split.

Dividend policy for fiscal 2025 showed a single payout of ¥4.50 per share in Q3, with no dividends announced for fiscal 2026 yet; a forecast indicates a potential ¥2.50 per share in Q4 after the split. The company projects full‑year 2026 net sales of ¥56,000 million (a slight decline of 0.3% from the prior year), operating profit of ¥4,500 million (down 7.6%), and ordinary profit of ¥4,600 million (down 5.1%). Forecasted earnings per share for FY2026 are ¥19.63, reflecting the impact of the share split.

These figures illustrate a rebound in profitability after a challenging prior year, with modest sales growth and an improving capital structure. The company’s guidance signals continued pressure on operating margins, likely due to rising content development costs and competitive market dynamics within Japan’s entertainment sector.

The consolidated financial statements cover the fiscal years ending March 31, 2012 and March 31, 2013. Net sales fell from ¥13,334 million to ¥12,632 million, yet operating income rose from ¥2,194 million to ¥2,574 million, reflecting lower cost of sales and improved operating efficiency. Net income more than doubled, increasing from ¥749 million to ¥1,654 million, largely driven by a substantial extraordinary gain of ¥406 million on the sale of subsidiary shares and reduced operating expenses. Comprehensive income grew from ¥732 million to ¥1,691 million; foreign‑currency translation adjustments swung from a negative ¥5 million to a positive ¥36 million, offsetting other comprehensive losses.

Assets increased from ¥19,649 million to ¥20,083 million. Current assets grew modestly, with cash and deposits rising by ¥2,776 million. Non‑current assets declined due to a reduction in property, plant and equipment net balance from ¥1,258 million to ¥916 million, reflecting asset disposals and depreciation. Liabilities fell from ¥4,926 million to ¥3,791 million, driven by lower current liabilities and a reduction in non‑current obligations. Shareholders’ equity expanded from ¥14,722 million to ¥16,291 million; retained earnings grew by ¥1,453 million, while treasury stock decreased in net value from a negative ¥1,753 million to a negative ¥1,690 million.

Cash flow analysis shows operating cash inflows rising from ¥1,043 million to ¥2,836 million. Investing activities remained negative, with a net outflow of ¥2,971 million in 2012 and ¥946 million in 2013, largely due to property, plant and equipment purchases. Financing cash flows were negative in both years, with treasury stock repurchases offset by modest dividend payments. The company’s liquidity improved, as cash and equivalents increased from ¥11,293 million to ¥9,199 million despite the net cash outflow in 2012. Overall, the firm strengthened profitability and equity while managing asset composition and cash flows over the two‑year period.

The quarterly consolidated balance sheet and income statements for the second quarter of fiscal year 2013 reveal a contraction in both operating performance and financial position compared with the same period of fiscal year 2012. Total assets fell from ¥20,083 million to ¥17,480 million, largely due to a reduction in current assets and non‑current investments. Current liabilities decreased from ¥3,731 million to ¥2,738 million, but shareholders’ equity declined from ¥16,291 million to ¥14,664 million, driven by a lower retained earnings balance and the continued impact of treasury stock.

Operating income swung from ¥1,612 million in 2Q FY2012 to a loss of ¥398 million in 2Q FY2013, reflecting higher selling, general and administrative expenses relative to sales. Net sales dropped by 41% from ¥6,817 million to ¥3,979 million, while cost of sales fell proportionally. Non‑operating losses increased sharply due to a ¥126 million loss on equity in affiliates and a ¥21 million loss on investments, offset only partially by foreign exchange gains of ¥20 million. Ordinary income turned negative, with a loss of ¥525 million in 2Q FY2013 versus a profit of ¥1,583 million previously.

Comprehensive income mirrored the net loss trend, reporting a ¥1,293 million loss attributable to owners of the parent in 2Q FY2013 versus a ¥1,184 million profit in 2Q FY2012. Cash flow analysis shows operating cash outflows of ¥448 million, a significant rise in investing cash inflows to ¥2,774 million—largely from sales of subsidiary shares—and financing outflows of ¥327 million due to dividend payments. Overall, the company experienced a notable decline in profitability and equity during the second quarter of FY2013.

The FY2014 business results demonstrate a strategic pivot toward new growth areas after a period of declining sales and income. Net sales fell 3 % from ¥12,632 million in FY2013 to ¥12,155 million in FY2014, while operating income contracted sharply from ¥2,574 million to ¥480 million, resulting in a net loss of ¥227 million. The decline is largely attributed to reduced performance in the traditional “mixi” social networking segment, which has been restructured toward network advertising and staff redeployment to higher‑margin initiatives. In contrast, the Content Group’s flagship mobile game Monster Strike delivered a robust recovery: fourth‑quarter sales rose 143.8 % to ¥5,798 million, operating income reached ¥990 million, and net profit stood at ¥1,345 million. Monster Strike’s success is linked to aggressive marketing, including nationwide TV commercials and a focus on multiplayer features that encourage daily play among friends. The company plans to expand the game overseas, targeting China, Hong Kong, Macau, and Taiwan, with a partnership with Tencent to localize the service.

Other segments—Media and Life Events—continue to grow. The “nohana” photobook business achieved a 16 % increase in paid purchase rates, while the “Find Job!” job‑advertising service maintained a stable user base of 700 k members. Mixi’s equity ratio improved to 84.5 % after a ¥6.5 billion public offering, and a five‑for‑one stock split is scheduled for July 1 2014. Overall, the report highlights a shift from legacy social networking to diversified content and advertising services, with Monster Strike as the primary catalyst for returning profitability.

The FY2015 annual report demonstrates that mixi, Inc.’s core revenue engine remains the mobile game Monster Strike, which generated ¥112.9 billion in net sales and ¥52.7 billion of operating income, a 30‑plus percent increase over FY2014. Net profit rose to ¥32.9 billion, reversing the prior year’s loss, and dividends were raised to ¥59 per share (¥82 total). The company attributes the surge to Monster Strike’s rapid download growth—over 30 million cumulative unique device downloads—and its expansion into new markets, including China, South Korea, North America, and Hong Kong/Macau. Strategic media‑mix initiatives such as TV commercials, outdoor advertising, and in‑game tie‑ups with movies and anime have reinforced user acquisition and retention.

Beyond Monster Strike, mixi diversified its portfolio through acquisitions of Hunza, Inc. (TicketCamp) and MUSE & Co., Ltd. (fashion e‑commerce), strengthening its B2C and C2C services segment. The company also launched several new mobile titles in FY2015, including “nohana” photo‑sharing and “Kimidake LIVE,” a live‑streaming platform for artists, targeting family and children audiences. A planned annual release of one new game each year signals a sustained focus on in‑house development.

Financially, total assets stood at ¥104.2 billion with an equity ratio of 51.4 %. The report outlines a forward‑looking strategy that leverages mixi’s social networking foundation, media‑mix expertise, and newly acquired IPs to broaden its entertainment and platform businesses while continuing to deliver shareholder value through dividends.

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The financial highlights for the first quarter of fiscal year ending March 2011 reveal a mixed performance across Tecmo Koei Holdings’ operating segments. Net sales fell 23.5 % year‑over‑year to ¥34,502 million, driven mainly by declines in game software sales (−32.3 %) and online & mobile revenue (−29.3 %). In contrast, pachislot & pachinko sales rose 36.1 % to ¥1,442 million, while media & rights and amusement facilities experienced modest growth of 18.8 % and −11.2 %, respectively. The “Other” segment saw a sharp increase of 260 % to ¥104 million, though its absolute contribution remained small.

Operating income swung from a loss of ¥519 million in the same quarter of FY2009 to a profit of ¥641 million, an improvement of 1,160 million yen. This turnaround was largely attributable to game software operating income rising from a loss of ¥517 million to a profit of ¥1,161 million. Online & mobile income improved from a loss of ¥114 million to a profit of ¥639 million, while media & rights and pachislot & pachinko also posted gains. The “Other” segment’s operating income increased markedly, though its impact on total profitability was limited by the overall scale.

Net income shifted from a loss of ¥102 million to a profit of ¥2,604 million, reflecting the combined effect of stronger operating results and favorable tax treatment. Forecasts for the full year project net sales growth to 5.8 % and operating income to 680 %, indicating management’s expectation of a rebound in game software sales and continued strength in pachislot & pachinko. The analysis covers all business units within the company, with data expressed in millions of yen for FY2009 and FY2010, and includes year‑over‑year comparisons and forecasted full‑year figures.

Financial highlights for the fiscal year ending March 2011 show a mixed performance for Tecmo Koei Holdings. Net sales fell 7 % to ¥32,081 million from ¥34,502 million in FY2009, driven mainly by declines in game software sales (‑6.6 %) and media & rights revenue (‑44.7 %). Conversely, online & mobile sales grew 14.9 %, and pachislot & pachinko revenue increased 31.5 %. The “Other” segment, largely comprising new or restructured businesses, surged 167.3 % to ¥278 million.

Operating income expanded dramatically by 415.6 %, rising from ¥641 million to ¥3,305 million. This surge was largely due to a 101.2 % jump in game software operating income and a 109.3 % increase in amusement facilities, offset by declines in pachislot & pachinko (‑17.4 %) and media & rights (negative contribution). The “Other” segment contributed a 326.3 % increase in operating income, reflecting successful new initiatives.

Income before taxes and minority interests grew 49.4 % to ¥4,515 million, while net income increased modestly by 5.3 % to ¥2,741 million. The company’s profitability improved despite lower sales volumes, largely through cost efficiencies and higher-margin segments.

The analysis covers Japan‑based operations for FY2010, using consolidated financial statements. Data are presented in millions of yen, with year‑over‑year comparisons highlighting key segment shifts and overall profitability trends.

The financial highlights present Tecmo Koei Holdings’ performance for the first quarter of fiscal year 2011, ending March 31, 2012. Net sales rose 26 % year‑over‑year to ¥34.5 billion, driven primarily by the Game Software segment, which generated ¥23.1 billion in sales and contributed a 54.8 % increase from the previous year’s first quarter. Online & Mobile sales also grew strongly, up 79.5 % to ¥4.6 billion, while Media & Rights and Pachislot & Pachinko segments declined sharply by 34.3 % and 76.6 %, respectively. Amusement Facilities sales fell 40.2 %. Corporate and elimination items offset gains, resulting in a net income of ¥2.6 billion, up 31.3 % from the prior year’s first quarter.

Operating income improved markedly to ¥641 million, a 51.3 % increase from the prior year’s first quarter, largely due to gains in Game Software (¥1.16 billion) and Online & Mobile (¥1.20 billion). However, the Media & Rights segment posted a loss of ¥109 million, and Pachislot & Pachinko’s operating income fell 98.3 % to ¥497 million, reflecting a significant downturn in that business line.

The report covers Japan‑based operations across five core segments—Game Software, Online & Mobile, Media & Rights, Pachislot & Pachinko, and Amusement Facilities—over the first quarter of FY2011. Data are presented in millions of yen, with year‑on‑year comparisons and forecasts for the full fiscal year. The methodology relies on consolidated financial statements, with no explicit survey or sampling details disclosed. Overall, the company experienced robust growth in its core gaming and online divisions, offset by declines in traditional gambling‑related businesses.

Financial highlights for the first half of fiscal year ending March 2012 reveal a mixed performance across Tecmo Koei Holdings’ business segments. Net sales rose 23.2 % year‑over‑year to ¥11,069 million, driven primarily by growth in Game Software (40.7 % increase) and Online & Mobile (57.2 % increase). Media & Rights, Pachislot & Pachinko, Amusement Facilities, and Other segments all experienced declines ranging from 20.4 % to 39.5 %. Corporate and elimination items contributed a net negative of ¥753 million, offsetting gains in other areas.

Operating income for the period was ¥641 million, a sharp improvement from a loss of ¥1,656 million in the same period a year earlier. The recovery was largely due to Game Software (+34.8 %) and Online & Mobile (+66.4 %). However, Media & Rights, Pachislot & Pachinko, Amusement Facilities, and Other segments remained unprofitable or posted modest gains. Corporate and elimination costs again weighed heavily on profitability.

Net income increased to ¥412 million, up 31.3 % from a loss of ¥571 million in the prior year’s first half, reflecting stronger operating performance and reduced tax expenses. Forecasts for the full year indicate a modest 9.1 % increase in net sales to ¥35,000 million and a target operating income of ¥5,000 million.

The analysis draws on consolidated financial statements for the first half and full year of FY2011, comparing them to FY2009 and FY2010 figures. Data are presented in millions of yen, with year‑over‑year changes expressed as percentages. The report covers all business segments within the company’s geographic scope, primarily Japan and related international operations.

The financial highlights for the third quarter of fiscal year 2011 (ending March 2012) show a modest improvement in consolidated performance compared with the same period in 2010. Net sales rose by 7.1 % to ¥32,080 million from ¥29,974 million in the prior year’s third quarter. Gross profit increased 42.8 % to ¥11,558 million, while operating income surged 51.3 % to ¥3,305 million, reflecting stronger profitability across most business segments.

Segment analysis reveals that Game Software sales grew 11.9 % to ¥21,594 million, contributing the largest share of operating income (¥2,336 million). Online & Mobile sales expanded 26.5 % to ¥4,610 million and generated a positive operating income of ¥1,202 million after a loss in the previous year. Media & Rights sales increased 24.2 % to ¥1,483 million but produced a modest operating profit of ¥157 million. Pachislot & Pachinko and Amusement Facilities sales both declined sharply (−30.7 % and −38.2 %, respectively), resulting in lower operating contributions of ¥497 million and ¥203 million. The Other segment saw a 7.4 % sales rise but remained a small contributor to operating income.

Overall, the company’s forecasted full‑year net sales for FY2011 were set at ¥35,000 million, a 9.1 % increase over the prior year’s full‑year figure. Operating income forecasts were raised to ¥5,000 million, reflecting a 51.3 % year‑over‑year improvement. The data derive from consolidated financial statements covering all business segments in Japan, with figures reported in millions of yen.

Financial highlights for the fiscal year ending March 2012 demonstrate robust growth across Tecmo Koei Holdings’ core segments. Net sales increased 10.7 % from ¥32,081 million in FY2010 to ¥35,525 million in FY2011, driven primarily by a 15.2 % rise in Game Software sales to ¥24,883 million and a 23.9 % increase in Media & Rights revenue to ¥1,838 million. Online & Mobile sales grew modestly by 3.6 %, while Pachislot & Pachinko, Amusement Facilities and Other segments experienced declines of 10.3 %, 12.0 % and 22.3 % respectively, partially offset by a slight improvement in Media & Rights.

Operating income surged 74.2 % to ¥5,758 million, largely due to a 105.4 % jump in Game Software operating profit (¥4,797 million) and a 10.9 % rise in Pachislot & Pachinko operating profit (¥551 million). Online & Mobile operating income fell 19.0 % to ¥1,034 million, and Other segment profit contracted sharply by 84.0 % to ¥13 million. Gross profit rose 16.7 % to ¥13,489 million, and net income climbed 69.3 % to ¥4,640 million, reflecting improved profitability across the business.

The data cover all domestic and international operations of Tecmo Koei Holdings, covering the period from FY2010 to FY2011. Figures are presented in millions of Japanese yen and reflect consolidated financial statements, with corporate eliminations accounted for in the totals. The analysis indicates that strategic focus on Game Software and Media & Rights has yielded significant revenue and profit gains, while traditional gaming and amusement segments face contraction.

The document outlines Tecmo Koei Holdings’ fiscal strategy and performance for the year ending March 2013, emphasizing a record‑high profit trajectory. Sales reached ¥34.6 billion in FY2012, up 2.5 % from the previous year, while operating profit climbed ¥6.21 billion (17.9 % of sales) and ordinary profit rose to ¥8.84 billion (25.5 % of sales). Net income improved from 13.1 % to 16.3 %, reflecting a 21.9 % increase in profit margin. The company attributes gains to strong game software sales, particularly titles such as “One Piece: Dynasty Warriors 8” and “Fist of the North Star,” and to a 900‑million‑user social game base. Segment analysis shows Game software as the largest contributor, with Online & Mobile and Media & Rights businesses identified for future rebuilding.

Geographically, Japan remains the dominant market (≈84 % of sales), followed by overseas segments: North America, Europe, and Asia contribute 7.5 %, 4.8 %, and 4.2 % respectively, with overseas sales growing modestly at 1.6 %. The company projects FY2013 sales of ¥37 billion, operating profit of ¥7.0 billion (18.9 % margin), and ordinary profit of ¥9.0 billion (24.3 %). Planned capital expenditures are ¥1.5 billion, with depreciation expenses expected to improve by 0.4 points.

Strategically, the firm focuses on IP creation and multi‑platform expansion, targeting new titles, collaborative projects, and ancillary media such as animation, comics, and merchandise. Online & Mobile initiatives aim to strengthen social games, expand browser titles in Asia, and pursue women‑oriented IPs. Overall, the plan seeks to sustain growth while enhancing profitability through diversified revenue streams and cost efficiencies.

Financial highlights for the first quarter of fiscal year ending March 2013 reveal a mixed performance across Tecmo Koei Holdings’ operating segments. Net sales fell 12.7 % year‑over‑year to ¥35,525 million, driven primarily by declines in Game Software (−19.2 %) and Online & Mobile (−10.0 %). Media & Rights sales were essentially flat, while Pachislot & Pachinko and Other segments posted modest gains of 127.4 % and 59.1 %, respectively. The company’s operating income contracted sharply, dropping 92.8 % to ¥5,758 million; this was largely due to a steep decline in Game Software operating income (−84.5 %) and a 17.6 % drop in Online & Mobile operating income. Conversely, Pachislot & Pachinko operating income surged 1,400 % to ¥551 million, and Media & Rights turned a loss into a profit of ¥157 million. Net income decreased 48.8 % to ¥4,640 million, reflecting the overall revenue and operating income downturns. Forecasts for the full year project net sales of ¥39,000 million (up 9.8 %) and operating income of ¥7,000 million (up 21.6 %). The report covers Japan‑based operations for the first quarter of FY2012, with data presented in millions of yen. Methodological details are not disclosed beyond segment classification changes, notably the transfer of CWS Brains from Amusement Facilities to Online & Mobile.

Financial highlights for the fiscal year ending March 2013 (FY2012) show a modest decline in net sales of 2.5 % to ¥34,639 million, driven mainly by a 4.7 % drop in Game Software sales and a 2.7 % fall in Online & Mobile revenue. Gross profit, however, increased by 3.3 % to ¥13,939 million, reflecting higher operating income of 7.8 % (¥6,208 million) and a 17.4 % rise in income before taxes to ¥8,779 million. Net income grew 21.9 % to ¥5,656 million, supported by a 27 % jump in Game Software operating income and a 15.2 % increase from Pachislot & Pachinko, offset by a 50 % decline in Online & Mobile operating income.

Segment performance varied: Pachislot & Pachinko sales rose 29 % to ¥2,195 million; Amusement Facilities grew 2.4 %; Other segments saw an 8 % rise, while Media & Rights fell 5.3 %. The company’s balance sheet expanded, with total assets rising from ¥54,909 million to ¥63,594 million, largely due to a jump in cash and time deposits (¥6,742 → 13,851 million) and investment securities (¥33,752 → 45,339 million). Current liabilities increased from ¥9,220 million to ¥12,303 million, driven by higher trade payables and income taxes payable. Shareholders’ equity grew from ¥77,934 million to ¥82,392 million, supported by retained earnings and capital surplus gains.

The report covers Japan‑based operations for FY2012, with data presented in millions of yen. It relies on consolidated financial statements prepared under Japanese GAAP, reflecting a full year’s performance and balance sheet as of March 31, 2013.

The first‑quarter results for the fiscal year ending March 2014 show a 10.9 % rise in consolidated net sales to ¥35,525 million, driven mainly by a 10.9 % increase in game‑software revenue and a 26.5 % jump in pachislot & pachinko sales. Operating income climbed 79.8 % to ¥6,208 million, largely from a 113.9 % surge in game‑software operating profit and a 444.3 % rise in the “Other” segment, offset by declines in online & mobile and amusement‑facility operating income. Net income increased 938 million yen (18.0 % YoY) to ¥5,656 million, although the year‑to‑date net income for FY2013 remained slightly below forecast at ¥5,700 million.

Segment‑level analysis indicates that game software remains the core driver of profitability, while online & mobile revenue grew modestly (10.9 %) but with a 23.7 % decline in operating income, reflecting higher costs or lower margins. Media & rights and pachislot & pachinko segments showed modest operating gains, whereas amusement facilities experienced a 10.4 % drop in operating income.

Balance‑sheet activity shows current assets falling from ¥31,416 million to ¥19,267 million as cash and receivables declined sharply, while fixed assets remained stable. Total assets increased to ¥65,782 million, supported by a rise in investment securities. Current liabilities dropped from ¥12,303 million to ¥4,708 million, largely due to reduced trade payables and accrued bonuses. Shareholders’ equity decreased slightly from ¥82,392 million to ¥80,478 million, reflecting a modest decline in retained earnings and treasury stock adjustments. Overall, the company maintained solid revenue growth and profitability in Q1 FY2014, with notable strength in its core game‑software segment.

Financial highlights for the first quarter of fiscal year 2014 demonstrate a robust performance across KOEI TECMO HOLDINGS’ diversified portfolio. Net sales reached ¥37,576 million, a 2.8% decline from the prior year’s full‑year figure but aligned with the forecasted ¥38,000 million. Gross profit fell 9.1% to ¥16,150 million, while operating income surged 959.1% to ¥7,140 million, reflecting a sharp rise in profitability from the core gaming segment. Income before taxes climbed 27.4% to ¥10,691 million, and net income increased 45.0% to ¥6,936 million, approaching the forecasted ¥7,000 million.

Segment analysis shows Game Software sales of ¥25,441 million, down 14.4% YoY but near forecasted levels; Online & Mobile sales rose 18.4% to ¥6,423 million, surpassing the projected ¥7,000 million by 9.0%. Media & Rights and Pachislot & Pachinko segments posted significant gains of 68.1% and 18.4%, respectively, while Amusement Facilities declined 8.3%. Operating income mirrored these trends: Game Software contributed ¥6,017 million (−33.1% YoY), Online & Mobile added ¥1,073 million (+71.9%), and Media & Rights turned a profit of ¥202 million after a prior loss.

Balance‑sheet data as of June 30, 2014 show total assets at ¥93,826 million, down from ¥100,622 million the previous year, largely due to a reduction in current assets and a modest decline in fixed assets. Current liabilities fell sharply from ¥10,122 million to ¥4,421 million, improving liquidity. Shareholders’ equity remained strong at ¥84,433 million, with retained earnings slightly lower than the prior year. Overall, the quarter reflects a strategic shift toward higher‑margin online and mobile offerings while maintaining solid financial health.

Financial highlights for the first half of fiscal year 2014, ending March 31 2014, show robust growth across KOEI TECMO HOLDINGS’ core segments. Net sales rose 4.2 % year‑on‑year to ¥37,576 million, driven primarily by game software sales that increased 1.0 % to ¥25,441 million and online & mobile revenue that grew 7.1 % to ¥6,423 million. Media & rights sales surged 44.3 %, while pachislot & pachinko and amusement facilities experienced moderate gains of 8.7 % and 9.3 %, respectively. Operating income expanded dramatically by 99.6 % to ¥7,140 million, largely due to a 89.5 % jump in game software operating profit and a 30.8 % rise in online & mobile profits. Net income climbed 76.5 % to ¥6,936 million, reflecting improved profitability across most segments.

Segment‑level operating income highlights include a 336.7 % increase in media & rights and a 23.5 % rise in online & mobile, while pachislot & pachinko and amusement facilities saw declines of 10.6 % and 59.0 %. Corporate & elimination costs increased, offsetting some gains.

Balance‑sheet data as of September 30 2014 show total assets at ¥99,132 million, slightly down from the prior year’s ¥100,622 million. Current assets fell to ¥18,855 million from ¥25,274 million, largely due to reduced cash and time deposits. Current liabilities dropped to ¥5,093 million from ¥10,122 million, improving liquidity. Shareholders’ equity increased to ¥91,269 million from ¥88,788 million, supported by retained earnings growth and a modest rise in accumulated other comprehensive income.

Overall, the first half of FY2014 delivered strong revenue and earnings growth, particularly in digital and media segments, while maintaining a solid balance‑sheet position with improved liquidity and equity.