Akatsuki

Akatsuki Inc. has proposed the implementation of a new stock option plan for its Directors, excluding Outside Directors, to be presented for approval at the 16th Ordinary General Meeting of Shareholders on June 25, 2026. The primary objective of this initiative is to align the interests of the leadership team with those of shareholders while enhancing motivation and morale to drive improved corporate performance and long-term value.

The proposal seeks authorization to provide up to JPY 100 million in annual remuneration specifically for stock acquisition rights, which will be distinct from the existing annual cash remuneration limit of JPY 500 million. Under the plan, the maximum number of stock acquisition rights to be granted annually is 800, representing a maximum of 80,000 common shares. The company estimates that this issuance will result in a minimal dilutive effect, calculated at approximately 0.6% of the total issued shares.

The exercise price for these options will be set at the closing price of the company’s common stock on the Tokyo Stock Exchange on the grant date. The exercise period will be determined by the Board of Directors, spanning between two and ten years from the grant date. Eligibility is generally contingent upon the holder maintaining a position as a Director, Audit & Supervisory Board Member, or employee of the company or its affiliates at the time of exercise, subject to specific exceptions for retirement or other justifiable circumstances. The board retains the authority to adjust the number of shares and the exercise price in the event of corporate restructuring, such as mergers, stock splits, or share exchanges, ensuring the plan remains equitable under varying market conditions.

Akatsuki Inc. has successfully concluded a tender offer to acquire SUNNY SIDE UP GROUP Inc., marking a significant step in the management integration of the two companies. The tender offer, which ran from May 14, 2026, to June 24, 2026, resulted in Akatsuki acquiring 9,355,136 common shares and 1,061 units of share acquisition rights. This acquisition represents a 63.42% ownership stake in the target company, effectively making SUNNY SIDE UP GROUP a consolidated and specified subsidiary of Akatsuki as of July 1, 2026.

The tender offer was executed at a price of 1,320 yen per common share and 65,900 yen per unit of share acquisition rights, resulting in a total acquisition cost of approximately 12,419 million yen. The transaction met the minimum threshold of 5,551,400 shares required for the offer to proceed. Following this acquisition, Akatsuki plans to initiate a squeeze-out process to make SUNNY SIDE UP GROUP a wholly-owned subsidiary, which will ultimately lead to the delisting of the target company from the Tokyo Stock Exchange Standard Market.

This strategic move integrates the operations of the two entities, though Akatsuki notes that the specific financial impact on its consolidated results remains under review. The target company, headquartered in Tokyo, has shown consistent financial performance over the last three fiscal years, with net sales reaching 19,587 million yen and an operating profit of 1,597 million yen for the fiscal year ended June 2025. The transition is scheduled to be finalized with the commencement of settlement on July 1, 2026.

Consolidated Financial Results The contents in this material reflect information and our opinions only as of ourselves to revise or publicly release the results of any revision to these FY3/26 – 1^st Quarter forward looking statements in light of new information or future events. You Akatsuki Inc. August 8, 2025 that could cause actual results to differ materially.

Consolidated Financial Results The contents in this material reflect information and our opinions only as of ourselves to revise or publicly release the results of any revision to these forward looking statements in light of new information or future events. You Akatsuki Inc. May 9, 2025 that could cause actual results to differ materially.

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. (Start of electronic provision) June 3, 2025 Tetsuro Koda, President and CEO 2-13-30 Kamiosaki, Shinagawa-ku, Tokyo NOTICE OF THE 15TH ANNUAL GENERAL MEETING OF SHAREHOLDERS You are hereby notified that the 15th Annual General Meeting of Shareholders of Akatsuki Inc.

Consolidated Financial Results for the Fiscal Year ended March 31, 2025 (Fiscal Year 2024 ) [Japanese GAAP] Name of Listed Company: Ａｋａｔｓｕｋｉ Ｉｎｃ． Stock listed on: Tokyo Stock Exchange Code Number: 3932 URL https://aktsk.jp/ Representative: Title: President and CEO Name: Tetsuro Koda In...

Akatsuki Inc. reported consolidated financial results for the fiscal year ending March 31, 2025 (April 1 2024–March 31 2025). Net sales fell by 1.3 % to ¥23,652 million from ¥23,972 million in FY2023, reflecting a decline in the Games segment despite a new title launch. Operating ordinary profit rose by ¥1,239 million (46.3 %) to ¥3,915 million, driven largely by gains in the Comics and IP Solutions businesses; the former benefited from contracted services for an overseas manga platform, while the latter saw growth in its online lottery service “Slash Gift.” Ordinary profit attributable to parent shareholders increased by ¥1,399 million (49.4 %) to ¥4,233 million, and net income attributable to owners of the parent grew by ¥358 million (27.8 %) to ¥1,646 million, aided by gains on share sales from IPOs of investee companies. A conservative write‑down of deferred tax assets reduced the profit attributable to owners, yet overall net income still improved.

An extraordinary loss of ¥593 million was recorded on the valuation of investment securities held by the group, reflecting a conservative assessment of recoverable value amid market uncertainty. On a non‑consolidated basis, the company recorded a ¥5,776 million provision for doubtful accounts and a ¥2,454 million loss on valuation of shares in affiliated companies; these items are largely confined to consolidated subsidiaries and have a minor impact on the consolidated results. The report covers Japan‑based operations for FY2025, with data derived from internal financial statements and market assessments.

Akatsuki Inc. reports a first‑quarter fiscal 2025 performance that reflects a sharp contraction in its core gaming and comics businesses amid a challenging macro‑environment. Net sales fell 44 % YoY to ¥2,313 million, while operating loss widened to ¥1,698 million from a prior‑year loss of ¥775 million. The company’s consolidated equity ratio improved to 78.7 % from 75.3 %, but total assets declined by ¥3,656 million to ¥50,976 million. Net loss attributable to parent shareholders reached ¥1,167 million, a significant increase from the prior‑year loss of ¥271 million. Comprehensive income deteriorated to ¥312 million in losses versus ¥159 million previously.

Segment analysis shows the Games unit suffered a 52.3 % sales decline and an operating loss of ¥1,643 million; the Comics unit posted a modest profit of ¥20 million after an 18.3 % sales drop; the newly standalone IP Solutions unit grew sales by 167 % and generated a ¥122 million profit, largely driven by the inclusion of subsidiary CRAYON, Inc. The Others segment recorded a small profit after an 80.9 % sales increase.

Geographically, the report focuses on Japan with no disclosed overseas revenue breakdown. Methodologically, figures are based on Japanese GAAP quarterly consolidation; no full‑year forecasts are provided due to market uncertainty. The company maintains a policy of timely quarterly disclosure while withholding FY2026 forecasts, citing volatile gaming and investment conditions.

Akatsuki Inc. reported consolidated financial results for fiscal year ended March 2025, showing a modest 5 % increase in sales to ¥23.652 billion compared with the prior year, driven primarily by strong performance of existing games such as Dragon Ball Z Dokkan Battle. Games sales rose 2 % to ¥21.237 billion, while comics and IP Solutions segments returned to profitability with 10 % and 121 % year‑over‑year sales gains, respectively. Operating profit surged 124 % to ¥3.915 billion, largely due to a sharp rise in operating profit from games (68 % increase) and significant gains on the sale of investment securities, which contributed ¥1.154 billion to profit before tax.

Net income increased 48 % to ¥1.646 billion, supported by a 28 % rise in adjusted EBITDA (¥5.661 billion). The company’s balance sheet remained solid, with total assets of ¥54.632 billion and net assets of ¥41.455 billion, while total liabilities decreased to ¥13.177 billion. Cash balances were maintained at ¥33.300 billion, reflecting disciplined working‑capital management.

The results cover the Japanese market and global operations for games, comics, and IP solutions. Methodology includes consolidated financial statements with adjustments for investment and incubation business personnel expenses, and gains on crypto asset sales are classified as non‑operating. Overall, Akatsuki’s selective focus on high‑performing titles and profitable IP solutions has driven a sharp improvement in operating profitability despite the withdrawal of some titles.

Akatsuki Inc. reports consolidated financial results for the first half of fiscal year ending March 31, 2026 (April 1–September 30, 2025). Net sales fell 20.6 % YoY to ¥9,915 million, while operating profit declined 42.4 % to ¥1,724 million; ordinary profit dropped 42.7 % to ¥1,676 million, yet net income attributable to parent rose 31.4 % to ¥1,853 million, driven by a higher comprehensive income of ¥2,269 million versus ¥1,499 million the prior year. Profit per share diluted increased from ¥97.85 to ¥128.56. Total assets grew to ¥59,400 million, with net assets rising to ¥42,995 million and equity ratio improving to 71.9 %. Cash flows from operating activities were modest at ¥369 million, while investing cash outflows of ¥5,433 million reflected significant purchases of investment securities and intangible assets. Financing activities generated net inflows of ¥1,775 million, offset by dividends paid of ¥795 million.

Segment analysis shows the Games and Comics business experienced a 23.2 % sales decline to ¥9,257 million and a 41.2 % profit drop, whereas the Entertainment and Lifestyle segment grew sales by 76.1 % to ¥649 million, achieving a 90.7 % profit increase. The Others segment recorded a sharp sales decline and continued losses.

The report notes significant consolidation changes: six new subsidiaries, including CRAYON Inc., were added; Akatsuki Fukuoka was liquidated. Goodwill increased by ¥4,316 million due to acquisitions of Natee and PAPABUBBLE JAPAN. No full‑year forecasts are provided, reflecting uncertainty in the Games and Comics market and ongoing investment plans.

Consolidated Financial Results The contents in this material reflect information and our opinions only as of ourselves to revise or publicly release the results of any revision to these forward looking statements in light of new information or future events. You Akatsuki Inc. February 9, 2026 that could cause actual results to differ materially.

Akatsuki Inc. reported a sharp decline in consolidated sales and operating results for Q1 of the fiscal year ending March 2026, with total group sales falling 44% YoY to ¥2,313 million. The Games segment suffered the largest hit, dropping 52% to ¥1,782 million and recording an operating loss of ¥1,643 million, largely due to a post‑Q4 portfolio review withdrawal and the absence of high‑profile releases. R&D spending for the Games business fell from the previous year as development on “TRIBE NINE” concluded, but costs for the upcoming title “Kaiju No. 8 The Game” increased personnel and outsourcing expenses.

In contrast, the Comics division saw a modest 18% sales decline to ¥226 million but improved profitability, with operating profit rising from a loss of ¥2 million to ¥20 million. The division’s focus on original works and continued service provision to the overseas platform MANGA MIRAI contributed to this turnaround. The IP Solutions unit experienced explosive growth, with sales up 167% to ¥298 million and operating profit soaring 2,592% to ¥122 million, driven by the successful online lottery “Slash Gift” and the inclusion of CRAYON, Inc. in consolidation.

Other income sources shifted, with gains on investment securities decreasing by ¥107 million to ¥580 million. Net income swung from a loss of ¥271 million in FY3/25 to a larger loss of ¥1,167 million in FY3/26, reflecting the combined impact of segment downturns and higher operating losses. Adjusted EBITDA also deteriorated from ¥153 million to a loss of ¥416 million.

The financial data cover the Japanese market, covering all core segments—Games, Comics, IP Solutions, and ancillary services—from Q1 FY3/24 through Q1 FY3/26. The analysis relies on consolidated financial statements, trend tables, and explanatory notes detailing segment performance, expense composition, and investment activity.