Worth reading
34Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateWhat happened to the previous planEarnings forecast for the first quarter of the fiscal year ending December 2026: revenue of ¥3,409 million, operating profit of ¥129 million, ordinary profit of ¥54 million, and net income attributable to owners of the parent of ¥42 million → Actual results for the first quarter of the fiscal year ending December 2026: revenue of ¥3,249 million, operating profit of ¥241 million, ordinary profit of ¥191 million, and net income attributable to owners of the parent of ¥164 million-4.7%Calculated from the two disclosed figures
Investment amount by sectorField New game development costs and related expenses / Amount ¥327 million / Subject First quarter of the fiscal year ending December 2026, Field Investment in Betimo / Amount ¥810 million / Subject Investment amount, Field Additional investment in Betimo / Amount ¥261 million / Subject 28 April 2026
Statements about the use of capital
Self-assessment of PBR and share priceShare price: ¥224; PBR: 1.52x. The company assesses the shares as undervalued because the recovery in earnings has not been sufficiently reflected in the share price.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Alliances with other companies
02Maintaining and improving game development capabilities (securing talent)
03Stabilizing the Financial Base
04Expanding the top line by continuously producing hit new titles
05Establishing a stable earnings base through the long-term, steady operation of existing titles
Plan assumptionsThe company operates an online game business focused on smartphones. Given the rapid pace of short-term changes and other factors, it is difficult to calculate appropriate and reasonable figures.
Size of the Target MarketMarket Size Indicator Domestic gaming population / Figures 54.75 million people / As of 2024, Indicator Mobile game users / Figures 42.77 million people / As of 2024 / Growth rate Not disclosed / Source ㈱角川アスキー総合研究所, Famitsu Game White Paper 2025
Risks identified by the company
Impact on growth from a slowdown in the domestic smartphone game market
Declining competitive advantage and deteriorating profitability due to the emergence of competing companies
Deteriorating profitability due to rapid changes in user needs
Deteriorating profitability due to dependence on specific major game titles
Deteriorating profitability if the development and release of new game titles or the localization of overseas titles does not proceed as expected
Higher production costs due to market competition and demands for high quality
Deteriorating profitability due to system outages or network disconnections
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Progress against the plan | Annual update |
| Self-assessment of PBR and share price | Share price: ¥224; PBR: 1.52x. The company assesses the shares as undervalued because the recovery in earnings has not been sufficiently reflected in the share price. |
| Investment amount by sector | Field New game development costs and related expenses / Amount ¥327 million / Subject First quarter of the fiscal year ending December 2026, Field Investment in Betimo / Amount ¥810 million / Subject Investment amount, Field Additional investment in Betimo / Amount ¥261 million / Subject 28 April 2026 |
| Plan assumptions | The company operates an online game business focused on smartphones. Given the rapid pace of short-term changes and other factors, it is difficult to calculate appropriate and reasonable figures. |
| Key initiatives | Alliances with other companies, Maintaining and improving game development capabilities (securing talent), Stabilizing the Financial Base, Expanding the top line by continuously producing hit new titles, Establishing a stable earnings base through the long-term, steady operation of existing titles |
| Results under the previous plan | Earnings forecast for the first quarter of the fiscal year ending December 2026: revenue of ¥3,409 million, operating profit of ¥129 million, ordinary profit of ¥54 million, and net income attributable to owners of the parent of ¥42 million → Actual results for the first quarter of the fiscal year ending December 2026: revenue of ¥3,249 million, operating profit of ¥241 million, ordinary profit of ¥191 million, and net income attributable to owners of the parent of ¥164 million |
| Size of the Target Market | Market Size Indicator Domestic gaming population / Figures 54.75 million people / As of 2024, Indicator Mobile game users / Figures 42.77 million people / As of 2024 / Growth rate Not disclosed / Source ㈱角川アスキー総合研究所, Famitsu Game White Paper 2025 |
| Risks identified | Impact on growth from a slowdown in the domestic smartphone game market, Declining competitive advantage and deteriorating profitability due to the emergence of competing companies, Deteriorating profitability due to rapid changes in user needs, Deteriorating profitability due to dependence on specific major game titles, Deteriorating profitability if the development and release of new game titles or the localization of overseas titles does not proceed as expected, Higher production costs due to market competition and demands for high quality, Deteriorating profitability due to system outages or network disconnections |
| Publication date | April 2026 |
Items this document does not state (15)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalTotal investment planSegment targetNon-financial targetsReason for revision or withdrawalDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The shortfall in revenue was attributed to sluggish growth in the online game distribution service. The outperformance in operating profit was attributed to controlling advertising expenses and reducing platform fees through external payments. The company explained that it does not publish medium- to long-term numerical plans because the online game business, which focuses on smartphones, is subject to rapid short-term changes, making it difficult to calculate appropriate and reasonable figures.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.