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

Supporting Document: Quarterly Transition by Business Segment

The quarterly transition data for FY2025 and FY2026 outlines revenue, operating profit, and operating margin trends across four business segments: Media & IP, Internet Advertisement, Game, and Investment Development. In FY2025, total sales reached 874 million yen, with the Game segment contributing the largest share at 216.7 million yen (24.9% of total). Operating profit totaled 71.7 million yen, driven primarily by the Game segment’s 60.8 million yen profit (84.7% of total). The Investment Development segment recorded a loss of 1.5 million yen, reflecting significant volatility. For FY2026, sales dropped to 232 million yen, with the Media & IP segment accounting for 62.6 million yen (27% of total). Operating profit fell to 23.4 million yen, largely due to the Media & IP segment’s modest 4.9 million yen profit and a loss of 552 k yen in Investment Development. The Game segment’s contribution was absent, indicating a zero‑sales quarter for this period. Operating margin analysis shows the Game segment maintained high profitability in FY2025, with margins peaking at 33.5% in Q4 and an average of 27.3%. In FY2026, margins declined sharply across all segments; Media & IP fell to 2.0% in Q4, Internet Advertisement to 3.0%, and Investment Development suffered a severe negative margin of –285.5% in Q4, averaging –264.0% for the year. Methodologically, figures are presented in million yen units, with quarterly breakdowns and adjustments noted. The data covers Japanese domestic operations for the fiscal years 2025 and 2026, focusing on revenue generation, profitability, and margin performance across the company’s core business lines.

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CyberAgent

Report

Supporting Document: Quarterly Transition by Business Segment

The quarterly transition analysis presents revenue and operating profit performance across five business segments for fiscal years 2023 and 2024, measured in million yen. Media operations generated the highest sales volume, totaling ¥141,163 million in FY2023 and ¥42,784 million in FY2024, yet suffered a cumulative operating loss of ¥11,523 million and an average margin of –2.3%. Internet advertising maintained steady revenue growth from ¥95,639 million to ¥105,320 million and delivered a positive operating profit of ¥18,317 million with an average margin of 5.4%. Game development showed a volatile profile: revenue rose from ¥40,916 million to ¥45,043 million while operating profit swung from a modest gain of ¥5,212 million to a loss of ¥161 thousand in Q3 2024; the segment’s average margin settled at 7.8%. Investment development experienced a sharp decline in FY2023 sales (¥139 million) but rebounded to ¥619 million in FY2024, with operating profit improving from a loss of ¥286 thousand to a gain of ¥102 thousand, yielding an average margin of 16.5%. Other services contributed ¥28,976 million in FY2023 and ¥7,961 million in FY2024, with a modest operating profit of ¥358 thousand and an average margin of 2.5%. Adjustments across all segments totaled a negative ¥37,624 million in FY2023 and –¥8,654 million in FY2024, reducing overall operating profit from ¥31,699 million to ¥6,284 million. The data illustrate segment‑specific profitability trends and highlight the media division’s ongoing margin challenges amid stable advertising revenue.

market-analysis japan mobile

CyberAgent

Report

1Q FY2025 Presentation Material

The presentation outlines CyberAgent’s FY 2025 financial outlook, operational highlights, and strategic priorities across its Media & IP, Internet Advertising, and Game divisions. FY 2025 revenue is projected at ¥820 billion with operating profit of ¥42 billion, representing 24.9 % and 19.8 % of the year‑to‑date targets, respectively. First‑quarter results show a 5.6 % YoY sales increase to ¥203.8 billion and a 32.1 % rise in operating profit to ¥8.3 billion, driven largely by a 10.5 % lift in Media & IP sales (¥55.6 billion) and an 11.8 % growth in Internet Advertising sales (¥117.7 billion). The Game segment, however, posted a 15.1 % YoY decline to ¥38.2 billion and a 4.1 % drop in operating profit, attributed to slower releases despite strong performance of new titles. Operating margins improved from 3.3 % in FY 2024 to 4.1 % in FY 2025, supported by a 32 % increase in operating income. SG&A expenses rose 4.4 % YoY to ¥45.7 billion, while cash deposits increased 11.3 % YoY to ¥205.6 billion, reflecting liquidity strengthening. Strategically, the company is shifting from a Media‑only model to an integrated Media & IP business, aiming to generate global IPs through ABEMA and new production units such as CA Soa Inc. The medium‑to‑long‑term plan emphasizes investment in high‑profit IP content, game development, and advertising technology leveraging AI to enhance ad effectiveness. The presentation also lists a pipeline of over six new games for FY 2025, including international releases, and outlines organizational changes to support the expanded IP focus.

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CyberAgent

Report

FY2025 First Half Consolidated Financial Results: Japan

CyberAgent, Inc. reported first‑half FY2025 consolidated results under Japanese GAAP, showing a 3.4 % rise in net sales to ¥421,214 million and operating income up 9.7 % to ¥29,169 million. Ordinary income attributable to owners increased 8.0 % to ¥29,178 million, while net income attributable to the parent surged 74.2 % to ¥15,863 million, driven by a strong performance in the newly defined Media & IP Business and Internet Advertisement segments. The Media & IP segment recorded ¥112,721 million in sales (12.4 % YoY) and a shift from an operating loss to a profit of ¥4,729 million. Internet Advertisement sales rose 11.1 % to ¥235,356 million with operating income up 11.6 %. Game Business sales fell 20.1 % to ¥89,713 million, though operating income decreased only 13.9 %. Investment Development sales declined 28.6 % to ¥628 million, with an operating loss of ¥749 million. Total assets increased to ¥520,288 million, equity rose to ¥262,428 million, and the equity ratio improved to 31.3 %. Cash and cash equivalents fell by ¥10,734 million to ¥200,400 million, largely due to operating cash inflows offset by investing and financing outflows, including a ¥20,000 million redemption of convertible bonds. Net income for the full year is forecast at ¥820,000 million, up 2.3 % YoY, with operating income projected at ¥42,000 million (4.8 %) and ordinary income at ¥42,000 million (5.8 %). The company maintains its dividend policy with a forecast of ¥17 million per share for FY2025, unchanged from prior guidance.

market-analysis japan mobile+1

CyberAgent

Report

FY2025 Third Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. reported consolidated financial results for the third quarter of fiscal year 2025 (ending September 30, 2025) under Japanese GAAP. Net sales rose 5.8 % YoY to ¥631,993 million, driven by a 14.1 % increase in the Media & IP Business and a 7.1 % rise in Internet Advertisement sales, while Game Business sales fell 7.1 %. Operating income increased 40.1 % to ¥48,798 million; ordinary income grew 35.6 % to ¥48,631 million, and net income attributable to owners of the parent surged 63.7 % to ¥24,103 million. Basic earnings per share reached ¥47.59 (diluted ¥44.88). Total assets climbed to ¥530,931 million, equity rose to ¥273,654 million, and the equity ratio improved to 32.5 %. The company forecast full‑year FY2025 net income of ¥850,000 million (up 6.1 %) and operating income of ¥66,000 million (up 64.7 %). Dividend policy remains unchanged with a forecast of ¥17.00 million per share for FY2025. Segment analysis shows Media & IP as the largest contributor, with operating income of ¥7,008 million; Internet Advertisement posted a 4.6 % YoY decline in operating income due to higher personnel costs; Game Business achieved a 31.0 % YoY rise in operating income after a successful console title launch; Investment Development recorded a modest operating loss. Impairment losses totaled ¥3,892 million across segments, primarily in Internet Advertisement and Game. The company’s cash position remained stable at ¥209 billion, while short‑term debt increased to ¥5.6 billion following the elimination of convertible bond current portions. No significant changes in accounting policies or segment structure were noted beyond the reclassification of “Other Businesses” into Media & IP. The report also announced the establishment of a new venture‑capital fund, CA Startups Internet Fund No. 4, which will become a specified subsidiary once fully funded.

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CyberAgent

Report

FY2022 Second Quarter Consolidated Financial Results: Japan

CyberAgent reported a strong second‑quarter performance for the fiscal year ending September 2022, driven by growth in its media and internet advertising businesses. Net sales rose 23 % YoY to ¥362,192 million, while operating income increased 38 % to ¥45,527 million and ordinary income grew 38 % to ¥45,715 million. Profit attributable to shareholders of parent climbed 25 % to ¥17,155 million, and basic earnings per share reached ¥33.93 versus ¥27.13 in the prior year. Segment analysis shows that the Media Business, anchored by ABEMA, generated ¥52,338 million in sales with a 30 % YoY increase and reduced its operating loss to ¥5,804 million. Internet Advertising posted ¥184,855 million in sales and a modest 2 % rise in operating income. Game Development delivered ¥127,342 million in sales with a 35.6 % increase and operating income surged 58 %. Investment Development and Other businesses recorded declines in sales and operating income. Total assets increased to ¥385,731 million, with current assets up slightly and liabilities falling by ¥15.5 million, improving the equity ratio to 35.7 %. Cash and cash equivalents stood at ¥180,070 million after a net outflow of ¥4.0 billion in the quarter. The company forecasts full‑year net sales at ¥700,000 million (5 % growth) and operating income of ¥70,000 million, anticipating a pullback in game revenue but continued growth in advertising and media. Dividend guidance for the year is set at ¥14 per share, targeting a 5 % dividend‑yield. The report reflects adoption of the new Japanese GAAP revenue recognition standard, with minimal impact on comparative figures.

market-analysis investment mobile+1

CyberAgent

Report

FY2020 Second Quarter Consolidated Financial Results: Japan

CyberAgent Inc. reported its FY2020 second‑quarter consolidated results for the period ending March 31, 2020. Net sales rose 7.3 % year‑on‑year to ¥244,853 million, driven by growth in the media, game and internet advertising segments. Operating income increased 45 % to ¥20,231 million, while ordinary income climbed 47 % to ¥20,234 million. Profit attributable to shareholders of the parent surged 338 % to ¥4,760 million, reflecting a sharp turnaround from a loss of ¥1,087 million in the same quarter of FY2019. Basic earnings per share rose from ¥8.63 to ¥37.76, and diluted EPS increased from ¥7.91 to ¥35.55. Total assets grew by ¥16,242 million to ¥241,118 million, with accounts receivable expanding due to higher sales. Total liabilities increased by ¥12,113 million, mainly from accounts payable. Net assets rose to ¥114,482 million, and the shareholders’ equity ratio fell slightly from 35.2 % to 32.9 %. Cash and cash equivalents increased by ¥395 million to ¥84,959 million. Operating activities generated a net cash inflow of ¥11,574 million, while investing and financing activities used cash, resulting in a modest net increase. Segment analysis shows the media business (including ABEMA and Ameba) posted ¥26,043 million in sales with a slight operating loss of ¥9,288 million; the game business achieved ¥80,103 million in sales and ¥15,560 million operating income; internet advertising generated ¥140,110 million in sales and ¥12,389 million operating income. The investment development segment recorded a decline of 32.8 % in sales to ¥3,380 million. The company forecasts FY2020 net sales of ¥465,000 million and operating income of ¥28,000 million, unchanged from the original October 2019 forecast. No revisions to dividend forecasts were made; a single annual dividend of ¥33 million per share is expected. The report covers Japan‑based operations, reflects a full fiscal year ending September 30, 2020, and is based on consolidated financial statements prepared under Japanese GAAP.

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CyberAgent

Report

Partial Correction to FY2024 Second Quarter Consolidated Financial Results: Japan

CyberAgent, Inc. issued a partial correction to its FY2024 second‑quarter consolidated financial results under Japanese GAAP, released on May 15 2025. The correction adjusts several numerical figures from the original April 24, 2024 filing but does not alter the overall financial position or key performance trends. Net sales for the cumulative second quarter rose 12.3 % year‑on‑year to ¥407,444 million, while operating income increased 61.4 % to ¥26,595 million and ordinary income grew 60.6 % to ¥27,028 million. Net income attributable to owners of the parent surged 346.5 % to ¥9,105 million, reflecting a significant improvement over the ¥2,039 million reported for 2Q FY2023. Basic earnings per share climbed from ¥4.03 to ¥17.98, and diluted EPS rose from ¥3.65 to ¥16.54. Total assets reached ¥495,553 million, up ¥20,330 million from the prior year, driven mainly by increases in trade receivables and contract assets. Equity expanded to ¥235,219 million, a rise of ¥6,769 million, largely due to retained earnings. Cash and cash equivalents increased by ¥3,795 million to ¥205,575 million, supported by stronger operating cash flow of ¥23,008 million versus ¥14,080 million in 2Q FY2023. Financing cash flow turned negative with an outflow of ¥8,429 million, largely from dividend payments. Segment analysis shows continued growth in the Internet advertisement and game businesses, with media operations improving from an operating loss of ¥10,605 million to a smaller loss of ¥829 million. The investment development segment recorded an operating loss of ¥960 million, a reversal from prior profitability. Forecasts for FY2024 remain unchanged, with net income projected at ¥750,000 million and operating income at ¥30,000 million. The company emphasizes that the correction does not affect its overall financial health or strategic outlook, and it will disclose any future revisions promptly.

market-analysis japan

CyberAgent

Report

1Q FY2023 Presentation Material

The presentation outlines CyberAgent’s strategic focus for FY2023, emphasizing a dual‑stream business model that blends advertising revenue with game development while expanding into media and digital content. Core financial highlights show a modest increase in operating profit margin to 6.7 % from 5.9 % the previous year, driven by higher ad spend and a growing subscription base on ABEMA. Operating profit rose to ¥6.4 billion, with revenue growth of 8.3 % year‑over‑year, largely attributed to the successful launch of new streaming channels and premium content packages. Gross margin improved from 55 % to 57 %, reflecting cost efficiencies in content acquisition and cloud infrastructure. Geographically, the company maintains a strong domestic presence in Japan while pursuing international expansion through partnerships with global streaming platforms such as Netflix and Disney+. The FY2023 data indicate a 12 % increase in overseas subscriber acquisition, with the United States and Southeast Asia emerging as key growth markets. The presentation also highlights a 15 % rise in mobile ad revenue, underscoring the shift toward on‑the‑go consumption. Methodologically, figures are derived from consolidated financial statements and internal analytics dashboards. The report references quarterly performance metrics (Q1‑Q4 FY2023) and compares them to the same periods in FY2022, providing a clear trend analysis. Key operational initiatives include investment in AI‑driven content recommendation engines, expansion of the ABEMA Live platform during major sporting events (e.g., FIFA World Cup 2022), and the launch of a new “Game Business” division focused on mobile titles. Overall, CyberAgent projects continued profitability through diversified revenue streams and sustained investment in digital media infrastructure.

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CyberAgent

Supporting Document: Quarterly Transition by Business Segment

Supporting Document: Quarterly Transition by Business Segment

1Q FY2025 Presentation Material

1Q FY2021 Presentation Material

FY2025 First Half Consolidated Financial Results: Japan

FY2025 Third Quarter Consolidated Financial Results: Japan

FY2022 Second Quarter Consolidated Financial Results: Japan

FY2020 Second Quarter Consolidated Financial Results: Japan

Partial Correction to FY2024 Second Quarter Consolidated Financial Results: Japan

2Q FY2023 Presentation Material: Japan

Presentation Material: Q1 FY2026

1Q FY2023 Presentation Material

CyberAgent

Documents