CyberAgent

Game Co.

129 documents

Internet/media company, parent of Cygames (Granblue Fantasy, Uma Musume, Princess Connect). Game segment is major revenue driver.

Documents

Financial

Partial Correction to FY2022 Consolidated Financial Results (Japanese GAAP)

CyberAgent’s financial performance for the fiscal year ended September 30, 2022, reflects a period of strategic transition characterized by record-breaking growth in media and advertising alongside a significant contraction in the gaming sector. Consolidated net sales reached ¥709.9 billion, a 6.6% year-over-year increase, yet operating income fell 35.1% to ¥67.5 billion. This decline in profitability was primarily driven by the Game Business, where sales dropped 13.1% to ¥228.4 billion and operating income plummeted 37.2% due to the natural slowdown of major titles. Despite these headwinds, the Internet Advertisement Business achieved record sales of ¥376 billion, and the Media Business grew 35.5% behind the expansion of the ABEMA platform. The fiscal year also marked a shift in financial health and accounting methodology. Total equity rose substantially to ¥221.2 billion, yet net cash from operating activities decreased from ¥109.6 billion to ¥17.9 billion, largely due to increased income tax obligations. Furthermore, the adoption of new revenue recognition standards altered how game item charges are recorded, moving from the point of purchase to the estimated usage period. These changes, combined with the transition to a group tax sharing system, resulted in basic earnings per share falling from ¥81.68 to ¥45.29. Looking forward, the company maintains a stable dividend policy of ¥14.00 per share and projects modest growth for FY2023 with a net sales forecast of ¥720 billion. While the gaming segment remains a core profit driver, the overall corporate strategy increasingly relies on the diversification of revenue through digital media and advertising to offset the inherent volatility of the mobile gaming market. This corrected financial outlook underscores a period of high investment and structural adjustment within the Japanese digital entertainment and advertising landscape.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2022 Third Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. issued this corrective filing on May 15, 2025, to amend its consolidated financial results for the third quarter of fiscal year 2022, originally disclosed in July 2022. The revisions stem from a broader initiative to correct past annual securities reports and financial statements for prior fiscal years. The scope of the data covers the nine-month period ending June 30, 2022, and includes comparative data from the same period in 2021, prepared in accordance with Japanese GAAP. The corrected figures show that for the third quarter of FY2022, CyberAgent recorded net sales of ¥533,882 million, a 9.7% increase year-on-year. However, operating income fell 29.1% to ¥54,813 million, and profit attributable to shareholders of the parent dropped 39.8% to ¥19,779 million. The Media Business, driven by ABEMA’s pay-per-view growth, saw sales rise 36.2% to ¥81,926 million while narrowing its operating loss. The Internet Advertisement Business reached record high sales of ¥283,878 million. Conversely, the Game Business experienced a 6.9% decline in sales to ¥173,551 million and a 29.4% drop in operating income, attributed to the high baseline set by major events in the previous year. Methodologically, the results reflect the application of the Accounting Standard for Revenue Recognition. This change specifically impacted the Game Business, where revenue from item charges is now recognized over an estimated user usage period rather than at the point of purchase. Despite these accounting adjustments and the numerical corrections, the company maintained its full-year earnings forecast and dividend projections as originally stated in April 2022. Total assets were reported at ¥373,421 million, a slight decrease from the end of the previous fiscal year due to corporate tax and dividend payments.

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CyberAgent, Inc.May 2025

Financial

FY2025 First Half Consolidated Financial Results (Japanese GAAP)

CyberAgent achieved a consolidated net sales increase of 3.4% year-on-year, reaching ¥421.2 billion during the first half of fiscal year 2025. This growth was accompanied by a substantial 74.2% surge in net income attributable to owners, which rose to ¥15.86 billion. These results reflect a period of strategic transition and stabilization across the company’s diverse portfolio, which primarily spans the Japanese market. Despite fluctuations in individual business units, the organization maintained its full-year guidance of ¥820 billion in net sales and ¥42 billion in operating income, signaling confidence in its long-term financial trajectory. The Internet Advertisement Business remains the primary engine of revenue, contributing ¥225.6 billion to the total. Simultaneously, the newly restructured Media & IP Business demonstrated a successful operational pivot, moving from a prior loss to a segment profit of ¥4.7 billion. This turnaround highlights improved profitability and steady growth within the company’s media assets. In contrast, the Game Business faced significant headwinds, reporting a 20.1% decline in sales and a 13.9% drop in operating income. This downturn is attributed to challenging year-on-year comparisons following a major console hit in 2024, though the segment still contributed a meaningful ¥18.7 billion to overall income. Financial stability remains robust, with formal disclosures confirming no significant changes in shareholders' equity or concerns regarding the company’s status as a going concern. By merging peripheral operations into the Media & IP segment and maintaining market leadership in digital advertising, the company has offset the cyclical volatility inherent in the gaming sector. The overall performance for the first half of FY2025 underscores a shift toward more diversified profit streams and enhanced operational efficiency across its core Japanese business segments.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2024 Consolidated Financial Results (Japanese GAAP)

CyberAgent’s fiscal year 2024 consolidated financial results reveal a period of robust recovery and operational efficiency, characterized by an 11.4% increase in net sales to ¥801,236 million. Operating income surged by 79.3% to reach ¥40,083 million, while net income attributable to owners of the parent experienced a dramatic 351.3% jump to ¥15,977 million. This financial turnaround was largely propelled by the Media Business, which successfully narrowed its operating loss from ¥12,873 million to just ¥1,927 million, and a high-performing Internet Advertisement Business that consistently outpaced broader market growth. The Game Business remains a vital profit driver, generating ¥195,985 million in net sales and a 34.6% increase in operating income to ¥30,569 million. This growth was fueled by the successful launch of new titles alongside the steady performance of existing smartphone applications. Geographically, the company’s operations remain heavily concentrated in Japan, with over 90% of sales and assets originating within the domestic market. Enhanced cash flow management was also evident, as net cash from operating activities more than doubled to ¥53,231 million, supporting a total equity balance of ¥250,504 million by year-end. Looking toward fiscal year 2025, projections indicate continued upward momentum with a net sales target of ¥820,000 million. A primary strategic milestone for the upcoming period is the anticipated transition of the Media Business into a profitable segment. Reflecting this positive outlook and strengthened earnings per share—which rose from ¥6.99 to ¥31.56—the annual dividend is expected to increase to ¥17.00 per share. These results underscore a successful stabilization of core business segments and a clear trajectory toward sustained profitability across the entire portfolio.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2024 Third Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. issued a partial correction to its consolidated financial results for the third quarter of fiscal year 2024, ending September 30, 2024. This amendment follows a broader review of past annual securities reports and financial statements. The scope of the data covers the company’s performance across its primary business segments—Media, Internet Advertisement, Game, and Investment Development—primarily within the Japanese market for the nine-month period ending June 30, 2024. The revised data reveals significant year-on-year growth. Net sales reached ¥597,485 million, an 11.8% increase, while operating income doubled to ¥34,833 million. Net income attributable to the parent company saw a substantial rise of 539.1%, totaling ¥14,726 million. This performance was driven by record-high sales in the Internet Advertisement business and a 10.4% revenue increase in the Game segment, fueled by successful new titles. The Media segment, which includes the ABEMA streaming service, significantly narrowed its operating losses from ¥12,394 million in the previous year to ¥489 million. The financial position as of June 30, 2024, shows total assets of ¥492,195 million, supported by increased cash and deposits. A notable subsequent event included in the report is the July 2024 acquisition of a 72.5% stake in Nitroplus Co., Ltd. for approximately ¥16,683 million. This strategic move aims to strengthen CyberAgent’s intellectual property and content production capabilities, aligning with its goal of global expansion through the integration of technology and creative entertainment. The methodology follows Japanese GAAP, with corrections applied to previously disclosed numerical values to ensure reporting accuracy.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2023 Third Quarter Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. issued this formal correction to its consolidated financial results for the third quarter of fiscal year 2023, covering the nine-month period ending June 30, 2023. The primary purpose of the document is to provide revised numerical data and financial statements following the submission of correction reports for past annual securities reports. The scope of the data includes the company’s major business segments: Media, Internet Advertisement, Games, Investment Development, and Other Businesses. Key findings for the cumulative third quarter of FY2023 show net sales of ¥534,397 million, a marginal year-on-year increase of 0.1%. However, profitability metrics saw significant declines. Operating income fell 68.3% to ¥17,383 million, and net income attributable to owners of the parent dropped 88.3% to ¥2,304 million. These declines are attributed to heavy investments in the Media business—specifically the distribution of the FIFA World Cup Qatar 2022 on ABEMA—and a 21.2% revenue decrease in the Game Business following the slowdown of major titles like those from Cygames. The consolidated financial position as of June 30, 2023, shows total assets of ¥461,683 million, an increase of ¥79,749 million from the end of the previous fiscal year. This growth was primarily driven by the issuance of convertible bonds and an increase in long-term bank loans, which also resulted in total liabilities rising to ¥235,349 million. The Internet Advertisement business remained a primary driver of volume, reaching record net sales of ¥300,672 million, though its operating income decreased by 30.2% due to upfront investments. The methodology follows Japanese GAAP standards, incorporating recent changes to accounting policies regarding fair value measurement and group tax sharing systems.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2021 Consolidated Financial Results (Japanese GAAP)

CyberAgent, Inc. achieved exceptional financial growth during the 2021 fiscal year, characterized by a 39.2% increase in consolidated net sales to ¥666,149 million and a 207.5% surge in operating income to ¥104,070 million. This performance was underpinned by a significant rise in profit attributable to shareholders, which climbed from ¥6,567 million in the previous year to ¥41,242 million. The company’s liquidity position strengthened considerably, with cash and cash equivalents nearly doubling to ¥184,082 million, supported by robust operating cash flows of ¥109,609 million. The Game Business served as the primary catalyst for this expansion, recording a 68.6% revenue increase to ¥262,751 million and a 217.9% jump in segment income to ¥96,445 million. This success was largely attributed to the performance of a major new title launch. Simultaneously, the Internet Advertisement Business reached record net sales of ¥321,001 million, while the Media Business grew by 45.1%, successfully narrowing its operating losses to ¥15,141 million. Other corporate developments included a four-for-one stock split implemented in April 2021, resulting in adjusted basic earnings per share of ¥81.68. Despite the strong fiscal results, management has opted not to provide a formal forecast for the 2022 fiscal year. This decision stems from the inherent volatility of the game industry, where the timing of new title launches and the fluctuation of hit-driven revenue cycles create significant uncertainty. While the company maintains a diversified portfolio across media, advertising, and investment development, the high impact of the gaming segment on overall profitability necessitates a cautious approach to forward-looking guidance.

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CyberAgent, Inc.May 2025

Financial

Partial Correction to FY2020 Consolidated Financial Results [Japanese GAAP]

CyberAgent, Inc. achieved significant financial growth during the fiscal year ended September 30, 2020, characterized by a 5.5% increase in net sales to ¥478,526 million and a 9.8% rise in operating income to ¥33,839 million. The most notable metric was the 287.5% surge in profit attributable to shareholders of the parent, which reached ¥6,567 million. This performance drove basic earnings per share from ¥13.45 in the previous year to ¥52.09, allowing for a year-end dividend of ¥34.00. The company’s financial position strengthened alongside these earnings, with net assets rising to ¥127,637 million and cash flow from operating activities increasing to ¥37,028 million. The Group’s success was primarily anchored by the Game and Internet Advertisement segments, which generated incomes of ¥30,337 million and ¥21,030 million, respectively. While the Media Business experienced 22.6% sales growth, it recorded an operating loss of ¥18,267 million as a result of sustained strategic investments in the ABEMA streaming platform. Geographically, operations remain concentrated in the Japanese market, which accounts for over 90% of total sales and assets. To better align with current management strategies, the company also executed a structural transfer of specific businesses from the Internet Advertisement segment to the Media segment. Looking ahead, the company forecasts continued expansion with a net sales target of ¥500 billion for fiscal year 2021. This outlook is supported by the strong performance of hit game titles and the broader expansion of the smartphone market. Despite ongoing impairment losses, which decreased to ¥4,589 million from the previous year’s ¥9,502 million, the Group maintains a robust liquidity position with a year-end cash balance exceeding ¥102,368 million. This capital provides the necessary foundation for continued investment in intangible assets and property to support its diverse reportable segments.

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CyberAgent, Inc.May 2025

Financial

1Q FY2025 Presentation Material: October to December 2024

CyberAgent’s financial results for the first quarter of fiscal year 2025, covering October to December 2024, indicate a strong start to the year with consolidated sales reaching 203.8 billion yen, a 5.6% increase year-over-year. Operating income rose significantly by 32.1% to 8.3 billion yen, driven primarily by the improved profitability of the Media & IP segment and steady growth in Internet Advertising. The company has achieved approximately 25% of its full-year sales forecast and 20% of its operating profit target, maintaining a positive trajectory toward its annual goals. The Media & IP business, which now includes the ABEMA streaming platform, saw revenue grow 10.5% to 55.6 billion yen. This segment transitioned to a 1.4 billion yen operating profit, a substantial recovery from previous losses, attributed to the reduction of upfront investment costs for ABEMA and high engagement with anime and combat sports content. The Internet Advertisement business remains the largest revenue contributor, growing 11.8% to 117.7 billion yen through new client acquisitions and AI-driven operational efficiencies. Conversely, the Game business experienced a 15.1% decline in revenue to 38.2 billion yen and a 4.1% dip in profit, as the natural slowdown of older titles offset the performance of newer releases. The medium-to-long-term strategy focuses on evolving the Media & IP segment into a primary profit pillar alongside advertising and gaming. CyberAgent plans to accelerate IP production, evidenced by the January 2025 founding of the anime production company CA Soa, Inc. The gaming pipeline remains active with over six new titles planned for the remainder of the fiscal year, including international versions of major franchises. By leveraging synergies between ABEMA’s distribution reach and internal IP creation, the company aims to build a high-profit business model capable of sustained global growth.

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CyberAgentJan 2025

Financial

FY2024 Presentation Material

CyberAgent achieved record consolidated sales of 802.9 billion yen in fiscal year 2024, representing an 11.5% year-over-year increase, while operating profit surged 70.4% to 41.8 billion yen. This performance marks a significant recovery for the Game business, which returned to growth for the first time in three years, and a narrowing of losses within the Media segment. The company’s strategic focus on operational efficiency through proprietary generative AI models and the expansion of its intellectual property portfolio drove these results. Projections for fiscal year 2025 suggest continued momentum, with a forecasted 29.3% increase in net income and a planned dividend hike to 17 yen. The Game business remains a primary profit driver, generating 195.9 billion yen in annual sales and a 34.6% increase in operating profit. Success was largely attributed to the sustained popularity of the Umamusume: Pretty Derby franchise and the launch of five new titles. Simultaneously, the Media segment, anchored by ABEMA, reached a record 30.29 million weekly active users and grew sales by 22.4%. To enhance monetization, the segment is transitioning to a tiered pricing model for ABEMA Premium and leveraging group-wide synergies to develop original IPs across anime, film, and gaming. The Internet Advertisement segment improved margins by integrating AI into its operations, contributing to the overall stability of the group. While fourth-quarter operating income saw a more modest 5.7% increase due to ongoing investments in social infrastructure and long-term profitability, the broader outlook remains positive. Future growth is expected to be supported by a robust pipeline of upcoming titles, including Chiikawa Pocket, and the continued evolution of the company’s media ecosystem into a sustainable, diversified entertainment platform.

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CyberAgentOct 2024

Financial

FY2024 Consolidated Financial Results (Japanese GAAP): Japan

CyberAgent achieved significant financial expansion during the 2024 fiscal year, characterized by an 11.5% increase in consolidated net sales to ¥802,996 million and a dramatic 204.7% surge in net income. This performance was primarily driven by the robust recovery of the Game Business, which saw operating income rise by 34.6%, and a strategic narrowing of losses within the Media Business. The "ABEMA" platform moved closer to profitability, reducing its annual losses from ¥11.5 billion to ¥1.9 billion. These results supported a strengthened cash position, with operating cash flow reaching ¥53,231 million and total equity rising to ¥254,235 million. The geographic scope of these operations remains heavily concentrated in Japan, where over 90% of sales and assets are located. While the Game Business remains a primary revenue driver with ¥195,648 million in sales, it also faced challenges, including a rise in impairment losses to ¥5,102 million. Despite these specific write-downs, overall corporate profitability improved substantially, as evidenced by basic earnings per share rising from ¥10.53 to ¥32.09. The company also increased its annual dividend to ¥16 per share, reflecting confidence in its liquidity and long-term asset growth, including a doubling of its goodwill balance. Projections for the 2025 fiscal year indicate a continued upward trajectory, with forecasted sales of ¥820 billion and a 29.3% increase in net income. This growth strategy relies on the Media Business achieving full profitability and the Internet Advertising segment maintaining its steady expansion. The Game Business intends to sustain its current momentum through a combination of new title launches and lifecycle extensions for existing high-performing games. Based on these targets, the year-end dividend is expected to rise further to ¥17 per share, signaling a transition from heavy infrastructure investment toward a phase of sustained earnings growth.

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CyberAgentOct 2024

Financial

3Q FY2024 Presentation Material

CyberAgent demonstrated significant financial momentum during the third quarter of fiscal year 2024, characterized by a 10.9% year-over-year increase in consolidated sales to 190.3 billion yen and a nearly fivefold surge in operating income to 8.5 billion yen. This robust performance, primarily driven by a resurgence in the gaming sector and continued expansion in digital media, prompted an upward revision of the full-year operating income forecast to 41 billion yen. The results reflect a successful stabilization of core business pillars and a strategic pivot toward high-growth intellectual properties and cross-media monetization. The Game business served as a primary growth engine, recording 38.8 billion yen in sales and a return to profitability with 5.1 billion yen in operating income. This recovery was fueled by the successful May 2024 launch of Gakuen iDOLM@STER and the sustained performance of established franchises like Umamusume: Pretty Derby. Simultaneously, the Media segment achieved record engagement levels, with ABEMA reaching 27.4 million weekly active users in June 2024. This growth is supported by a strategic focus on original IP ownership, exemplified by the acquisition of Nitro Plus and the development of creative infrastructure like the Manga Apartment VUY project. Looking ahead, the corporate strategy emphasizes a fusion of technology and creativity to scale operations globally. By leveraging a diverse portfolio that includes major titles such as Final Fantasy VII Ever Crisis and Jujutsu Kaisen Phantom Parade alongside its dominant internet advertising business, the firm aims to capitalize on digital transformation trends. The transition toward a merit-based corporate structure and an expanded creative ecosystem underscores a long-term commitment to maintaining a competitive edge in the international entertainment and advertising markets.

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CyberAgentJul 2024