CyberAgent

Game Co.

129 documents

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

Documents

Report

3Q FY2021 Presentation Material: Japan

3Q FY2021 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various 1. Quarterly Results (April - June 2021) 3. Internet Advertisement Business FY2021 The growth of games and ads exceeded our expectation. The forecast is revised upward again.

market-analysis advertising streaming+2

CyberAgent

Report

Partial Correction to FY2023 Consolidated Financial Results (Japanese GAAP)

CyberAgent’s FY2023 Japanese‑GAAP financials reveal a modest 1.3 % increase in net sales to ¥719,451 million, yet operating income plunged 66.9 % and net income attributable to owners fell 84.5 % to ¥3,540 million. Total assets rose by ¥93.3 billion to ¥475,222 million, largely due to convertible bond issuance and long‑term loans, while equity increased modestly to ¥228.45 billion. Cash balances grew from ¥168,035 million to ¥201,780 million, supported by significant financing activity that offset higher operating cash outflows. Segment analysis shows a turnaround in profitability. The internet advertisement business moved from a ¥12.9 billion loss to a ¥17.5 billion profit, and the game business shifted from a ¥13.2 billion loss to a ¥22.7 billion profit, contributing to total segment income of ¥29.5 billion versus a ¥73 million loss in FY2022. Corporate expenses increased to ¥7.1 billion, and goodwill amortization rose slightly to ¥348 million. Despite the operating downturn, CyberAgent reiterated a FY2024 sales forecast of 4.2 % growth to ¥750 billion, with expected operating income of ¥30 billion and net income of ¥8 billion. The corrections emphasize the company’s reliance on financing to support asset growth while highlighting a strategic shift toward more profitable media and internet advertising segments.

investment japan funding

CyberAgent

Report

Quarterly Transition by Business Segment: Japan

The quarterly transition analysis for Japan’s business segments presents sales, operating profit, and operating margin data for FY2024 and FY2025. Sales figures are expressed in millions of yen, with a total revenue of ¥801 billion for FY2024 and ¥631 billion for FY2025 after adjustments. The Media & IP segment generated the highest revenue in both years, followed by Internet Advertisement and Game segments; Investment Development contributed a modest ¥6 billion in FY2024 but only ¥1.4 billion in FY2025. Operating profit trends reveal a strong performance for the Game segment, which posted ¥31 billion in FY2024 and ¥35 billion in FY2025, driven by a peak of ¥18 billion in Q2 2024. The Internet Advertisement segment maintained consistent profitability, averaging ¥5 billion per quarter across both fiscal years. Media & IP experienced volatility, with a loss in Q1 and Q4 of FY2024 but a modest profit in Q2. Investment Development showed significant swings, including a negative operating profit of ¥1 billion in Q2 2024. Operating margin analysis (excluding special incentives) highlights the Game segment’s superior profitability, achieving an average margin of 25.1 % over FY2024 and FY2025. Media & IP margins hovered near zero, while Internet Advertisement maintained a stable 4–5 % margin. Investment Development’s margin was highly variable, averaging –60 %, reflecting its investment‑heavy nature. The data cover all four quarters of FY2024 and FY2025, focusing on Japan’s domestic market. Figures were corrected as of May 15 2025 and include adjustment amounts to reconcile interim reporting discrepancies.

market-analysis marketing mobile+1

CyberAgent

Report

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

CyberAgent, Inc. issued a partial correction to its FY2024 third‑quarter consolidated financial results under Japanese GAAP, released on May 15 2025. The correction addresses numerical inaccuracies in the previously disclosed July 31 2024 results, with revised figures presented in full. Net sales for the cumulative third quarter rose 11.8 % year‑on‑year to ¥597,485 million, while operating income doubled to ¥34,833 million (100.4 % increase). Ordinary income and net income attributable to owners of the parent surged 100.6 % and 539.1 %, respectively, reaching ¥35,858 million and ¥14,726 million. Basic earnings per share climbed from ¥4.55 to ¥29.09, and diluted EPS rose from ¥4.00 to ¥26.75. Total assets increased by ¥16,972 million to ¥492,195 million, with equity rising 30.3 % to ¥240,488 million; liabilities grew by ¥4,934 million. Cash and deposits expanded to ¥206,055 million, reflecting sales growth. The company maintained a dividend forecast of ¥15.00 million per quarter for FY2024, unchanged from prior guidance. Segment analysis shows the Media Business (ABEMA) generated ¥125,885 million in sales with an operating loss of ¥489 million; Internet Advertisement achieved a record ¥323,740 million in sales and ¥16,454 million operating income; Game Business contributed ¥151,070 million in sales and ¥26,844 million operating income. Investment Development and Other Businesses recorded modest sales with mixed profitability. The correction also notes a business combination: CyberAgent acquired 72.5 % of Nitroplus Co., Ltd. on July 1 2024, a content‑creation firm known for IP such as Touken Ranbu. The acquisition, valued at ¥16,683 million in cash, aims to strengthen CyberAgent’s media‑mix strategy and global IP expansion. No significant changes in accounting policies or consolidation scope were reported, and the company reaffirmed its forward‑looking forecasts for FY2024.

investment market-analysis japan

CyberAgent

Report

FY2024 First Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. reported FY2024 first‑quarter results (October 1–December 31 2023) under Japanese GAAP, showing a 15.2 % year‑on‑year increase in net sales to ¥193,075 million and a turnaround from an operating loss of ¥1,255 million in FY2023 to an operating income of ¥6,284 million. Ordinary income rose from a loss of ¥939 million to a profit of ¥6,478 million, while net income attributable to owners of parent improved from a loss of ¥5,002 million to ¥472 million. Net income attributable to non‑controlling interests also declined from ¥1,272 million to ¥278 million. The company’s equity ratio fell slightly from 30.2 % to 28.8 %, reflecting a ¥9,997 million drop in shareholders’ equity mainly due to retained‑earnings erosion from dividend payouts. Segment analysis highlights that the Media Business, driven by ABEMA, generated ¥42,784 million in sales (27.8 % YoY) and narrowed its operating loss to ¥991 million from a prior‑year loss of ¥9,356 million. The Internet Advertisement Business posted ¥105,320 million in sales (10.1 % YoY) with operating income of ¥5,667 million. Game Business sales increased 10.1 % to ¥45,043 million but operating income fell 32.9 % to ¥3,495 million. Investment Development and Other Businesses recorded modest sales growth of 344 % and 31 %, respectively, with small operating profits. Total assets declined by ¥9,144 million to ¥468,681 million, while total liabilities rose by ¥852 million to ¥246,767 million. Cash and deposits decreased due to tax and dividend payments, whereas accounts payable increased with higher sales. The company maintained its FY2024 full‑year forecast unchanged: net income of ¥750 million (≈¥15.80 per share) and operating income of ¥30,000 million (≈¥20.4 per share). No accounting policy changes or significant subsidiary adjustments were reported, and the company confirmed its going‑concern assumption.

market-analysis investment mobile+1

CyberAgent

Report

Partial Correction to FY2022 Third Quarter Consolidated Financial Results: Japanese GAAP

CyberAgent, Inc. issued a partial correction to its FY2022 third‑quarter consolidated financial results under Japanese GAAP, published on May 15 2025. The correction addresses numerical inaccuracies in the original July 27 2022 disclosure, with revised figures presented in full. Net sales for the cumulative third quarter rose 9.7 % year‑on‑year to ¥533,882 million, while operating income fell 29.1 % to ¥54,813 million and ordinary income declined 28.9 % to ¥55,180 million. Profit attributable to shareholders of parent decreased 39.8 % to ¥19,779 million, and comprehensive income attributable to shareholders fell 41.5 % to ¥29,006 million. Basic and diluted earnings per share dropped from ¥65.11/¥61.64 to ¥39.12/¥37.03, reflecting the lower earnings. Segment analysis shows media business revenue increased 36.2 % to ¥81,926 million but remained loss‑making at –¥10,315 million. Internet advertisement revenue grew 18.8 % to ¥283,878 million with a modest operating profit of ¥18,859 million. Game business sales fell 6.9 % to ¥173,551 million and operating income declined 29.4 % to ¥48,427 million. Investment development revenue dropped 45.1 % to ¥3,353 million, and other businesses saw a 23.1 % sales rise to ¥19,325 million but operating loss of –¥356 million. Total assets decreased by ¥8,804 million to ¥373,421 million, while net assets increased by ¥21,616 million to ¥215,409 million. The company maintained its FY2022 full‑year forecast of net sales ¥700,000 million and operating income ¥70,000 million. The correction does not alter the company’s dividend policy or forecast revisions.

market-analysis japan game-publishing

CyberAgent

Report

Supporting Document: Quarterly Transition by Business Segment

The quarterly transition analysis compares fiscal year 2019 and 2020 performance across five business segments—Media, Game, Internet Advertisement, Investment Development, and Other. Total sales rose from ¥480.8 billion in FY2019 to ¥453.6 billion in FY2020, reflecting a 5.8% decline driven mainly by the Media and Game divisions. Media sales fell from ¥46.6 billion to ¥42.1 billion, while Game sales dropped from ¥152.2 billion to ¥115.7 billion, the largest contraction among segments. Internet Advertisement sales increased modestly from ¥256.6 billion to ¥140.1 billion, but the figure shown appears inconsistent and likely represents a typographical error; nevertheless, the segment maintained positive growth in operating profit. Investment Development sales fell sharply from ¥6.4 billion to ¥3.4 billion, largely due to a significant reduction in the fourth quarter. Operating profit (excluding 4Q incentives) totaled ¥30.8 billion in FY2019 and ¥20.2 billion in FY2020, a 34% decline. The Game segment remained the most profitable, contributing ¥15.6 billion in FY2019 and ¥12.5 billion in FY2020, while Media continued to post losses of approximately ¥16 billion. Internet Advertisement generated the highest operating profit margin, averaging 8.8% across both years, whereas Investment Development exhibited extreme volatility with a negative margin in Q4 2020. The Other segment maintained modest profitability, averaging 7.9% margin. The data cover all domestic markets in Japan for the two fiscal years, with quarterly granularity. Figures are presented in millions of yen and exclude fourth‑quarter incentive adjustments, which were separately listed as negative adjustments. The analysis highlights a contraction in core media and gaming revenues, resilience in internet advertising profitability, and significant volatility in investment development activities.

market-analysis advertising japan+1

CyberAgent

Report

FY2022 Presentation Material: Japan

The material outlines CyberAgent’s strategic focus for FY 2022 in Japan, emphasizing a shift toward digital media and gaming as core growth drivers. The company projects continued expansion of its streaming platform ABEMA, citing the 2022 FIFA World Cup and Premier League broadcasts as key content drivers that attracted new viewers and increased subscription revenue. Data points indicate a 7.8 % quarterly growth in user engagement, with ABEMA’s original programming contributing to a 4.69 billion‑yen increase in operating income over the year. Key findings highlight a diversified portfolio that now includes game development, media production, and smartphone services. The company’s medium‑to‑long‑term pipeline focuses on monetization through advertising, subscription models, and cross‑business synergies. Investment targets identified include video content creation, mobile gaming, and blog platforms to broaden audience reach. Methodologically, the presentation references internal performance metrics across fiscal years 2000–2022 and leverages data from live event viewership, subscription uptake, and advertising spend. The analysis also incorporates AI‑driven race prediction tools and e‑commerce features such as liquid KYC to enhance user experience. Geographically, the scope remains Japan‑centric, with plans to extend ABEMA’s reach internationally by 2025. The time frame covers FY 2022 with projections for the next three years, underscoring a commitment to becoming a global digital media and gaming leader while supporting Japan’s broader internet economy.

market-analysis japan mobile

CyberAgent

Report

3Q FY2025 Presentation Material

3Q FY2025 Presentation Material The future information, such as earnings forecast, written in this document is based on our expectations and assumptions as of the date the forecast was made. Our actual results could differ materially from those described in this forecast because of various risks and uncertainties. 1. Financial Summary (April - June 2025) 4. Internet Advertisement Business 6.

market-analysis investment mobile+1

CyberAgent

Report

FY2021 Third Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. reported a strong third‑quarter performance for FY2021 under Japanese GAAP, with net sales rising 36.1 % YoY to ¥486.7 billion and operating income surging 171.9 % YoY to ¥77.5 billion. Ordinary income increased 173.3 % to ¥77.8 billion, while profit attributable to shareholders of the parent jumped 462.1 % to ¥33.0 billion, reflecting a cumulative comprehensive income of ¥49.7 billion (288.8 % YoY). Basic earnings per share reached ¥65.46, up from ¥11.65 in FY2020, after a four‑for‑one stock split effective April 1 2021. Total assets grew to ¥343.7 billion, driven by a ¥82.9 billion increase in current assets, while total liabilities rose to ¥165.6 billion, mainly due to higher accounts payable and short‑term loans. Shareholders’ equity expanded to ¥110.5 billion, with retained earnings rising by ¥50.4 billion. Segment analysis shows the Internet Advertisement Business delivering record net sales of ¥239.1 billion (17 % YoY) and operating income of ¥18.1 billion, while the Game Business posted net sales of ¥186.3 billion (59.5 % YoY) and operating income of ¥68.6 billion, a 196.4 % increase. The Media Business, despite continued investment in ABEMA, achieved net sales of ¥60.2 billion (52.6 % YoY) with an operating loss of ¥11.2 billion, reduced from ¥13.3 billion the prior year. The company revised its full‑year earnings forecast upward and increased the FY2021 dividend to ¥11.00 per share (¥44 pre‑split), targeting a 5 % or higher dividend payout ratio. The results underscore CyberAgent’s strategy of leveraging smartphone‑focused advertising growth while investing heavily in media and gaming assets to sustain long‑term profitability.

market-analysis mobile japan+1

CyberAgent

Report

Partial Correction to FY2024 First Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. issued a partial correction to its FY2024 first‑quarter consolidated financial results under Japanese GAAP, released on January 31 2024. The correction addresses several numerical inaccuracies disclosed in a separate notice dated May 15 2025, but the company states that no substantive changes to financial statements or forecasts have been made. The corrected figures show a 15.1 % year‑on‑year increase in net sales to ¥192,655 million and an operating income of ¥5,864 million, reversing the prior‑year operating loss of ¥1,738 million. Ordinary income rose to ¥6,058 million from a loss of ¥1,421 million, and net income attributable to owners of the parent improved to a loss of ¥892 million versus a prior‑year loss of ¥5,391 million. Total assets declined to ¥464,799 million from ¥475,222 million, while equity fell to ¥218,032 million from ¥228,450 million, primarily due to dividend payments and retained‑earnings adjustments. Segment analysis highlights that the Media Business, driven by ABEMA, grew net sales 27.7 % to ¥42,784 million but still recorded an operating loss of ¥991 million. The Internet Advertisement Business posted a 9.9 % sales increase to ¥104,900 million with operating income of ¥5,246 million. Game Business sales rose 10.1 % to ¥45,043 million but saw a 32.9 % decline in operating income. Investment Development and Other Businesses reported modest sales increases but maintained small operating profits. The company’s FY2024 full‑year forecast remains unchanged: net sales of ¥750,000 million and net income of ¥30,000 million. No revisions to dividend forecasts were made. The correction does not affect audit status or forward‑looking statements, and the company confirms that its going‑concern assumption remains valid.

investment japan market-analysis

CyberAgent

CyberAgent

Documents

3Q FY2021 Presentation Material: Japan

Partial Correction to FY2023 Consolidated Financial Results (Japanese GAAP)

Quarterly Transition by Business Segment: Japan

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

FY2020 Consolidated Financial Results: Japan

FY2024 First Quarter Consolidated Financial Results: Japan

Partial Correction to FY2022 Third Quarter Consolidated Financial Results: Japanese GAAP

Supporting Document: Quarterly Transition by Business Segment

FY2022 Presentation Material: Japan

3Q FY2025 Presentation Material

FY2021 Third Quarter Consolidated Financial Results: Japan

Partial Correction to FY2024 First Quarter Consolidated Financial Results: Japan