Worth reading
49Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedROENot disclosed → Consistently achieve a high ROE of 20% or more
Only the target level is shown because the current level for comparison was not provided.Total investment planApproximately ¥1.4 billion in growth investment (allocation under cash allocation)
Statements about the use of capital
Payout ratio / DOE policyDividends will be paid based on the higher of a payout ratio of 40% or more and a DOE (dividend on equity) of 7% or more. The company commits to a total payout ratio of 60% or more. The applicable period is not specified.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe company will acquire treasury shares after comprehensively considering earnings, financial condition, share price levels and other factors, and will consider cancelling or disposing of treasury shares as necessary. Specific figures for the acquisition limit, timing and terms are Not disclosed.
Cost of capitalCost of shareholders’ equity: approximately 7.5%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceAlthough the PBR exceeds the Tokyo Stock Exchange’s benchmark of 1x, the share price has continued to struggle since peaking in fiscal 2019, before the COVID-19 pandemic. The company recognizes that the PBR remains low and needs to improve. The PER exceeded the 14x median for the Information and Communications sector on the Standard Market in the latest period, but was 10.2x excluding non-recurring special factors.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Advance location-based games
02Provide attractive shareholder returns
03Appropriate cash allocation
04Promotion of sustainability
05Improving employee engagement
06Implement new initiatives needed for the stable growth of the mobile game business
07Focus on considering the reconstruction of the systems infrastructure
08Improve company-wide productivity while reducing costs through the use of AI and other technologies
09Expand existing business areas through efficient promotional investment and other measures
10Recruit and develop human resources aligned with the business strategy
11Differentiate the company from its peers by continuing full remote work
12Consider capital alliances and M&A aimed at long-term and medium-term business growth
13Maintain progressive dividends
14Introduction of a Shareholder Benefit Program
15Strengthening Investor Relations Activities
16Promotion of sustainability
Plan assumptionsThe cost of shareholders’ equity is calculated based on the CAPM. The risk-free rate is based on the yield on 10-year Japanese government bonds, beta is based on weekly performance relative to the TOPIX over 3 years, and the market risk premium is set based on historical returns in the equity market.
Non-financial targetsIndicator Employee stock ownership plan incentive rate / Target value 30％ / Timing Limited-time offerings
Risks identified by the company
Risks and uncertainties inherent in the plans, forecasts and strategies
Data published on the business environment may produce different results depending on the survey methodology and timing.
The company has not verified or guaranteed the accuracy, appropriateness or other qualities of information from sources other than the company.
Reason for revision or withdrawal
To enhance corporate value through improved capital efficiency, achieve earnings growth while maintaining a high ROE, reduce the cost of shareholders’ equity, and increase the expected growth rate.
| Item | Details |
|---|---|
| Plan name | Update on Initiatives to Achieve Management Conscious of Capital Costs and Share Prices |
| Progress against the plan | Partially revised |
| ROE target | Not disclosed → Consistently achieve a high ROE of 20% or more |
| Payout ratio / DOE policy | Dividends will be paid based on the higher of a payout ratio of 40% or more and a DOE (dividend on equity) of 7% or more. The company commits to a total payout ratio of 60% or more. The applicable period is not specified. |
| Treasury share acquisition policy | The company will acquire treasury shares after comprehensively considering earnings, financial condition, share price levels and other factors, and will consider cancelling or disposing of treasury shares as necessary. Specific figures for the acquisition limit, timing and terms are Not disclosed. |
| Cost of capital | Cost of shareholders’ equity: approximately 7.5% |
| Self-assessment of PBR and share price | Although the PBR exceeds the Tokyo Stock Exchange’s benchmark of 1x, the share price has continued to struggle since peaking in fiscal 2019, before the COVID-19 pandemic. The company recognizes that the PBR remains low and needs to improve. The PER exceeded the 14x median for the Information and Communications sector on the Standard Market in the latest period, but was 10.2x excluding non-recurring special factors. |
| Total investment plan | Approximately ¥1.4 billion in growth investment (allocation under cash allocation) |
| Non-financial targets | Indicator Employee stock ownership plan incentive rate / Target value 30％ / Timing Limited-time offerings |
| Plan assumptions | The cost of shareholders’ equity is calculated based on the CAPM. The risk-free rate is based on the yield on 10-year Japanese government bonds, beta is based on weekly performance relative to the TOPIX over 3 years, and the market risk premium is set based on historical returns in the equity market. |
| Key initiatives | Advance location-based games, Provide attractive shareholder returns, Appropriate cash allocation, Promotion of sustainability, Improving employee engagement, Implement new initiatives needed for the stable growth of the mobile game business, Focus on considering the reconstruction of the systems infrastructure, Improve company-wide productivity while reducing costs through the use of AI and other technologies, Expand existing business areas through efficient promotional investment and other measures, Recruit and develop human resources aligned with the business strategy, Differentiate the company from its peers by continuing full remote work, Consider capital alliances and M&A aimed at long-term and medium-term business growth, Maintain progressive dividends, Introduction of a Shareholder Benefit Program, Strengthening Investor Relations Activities, Promotion of sustainability |
| Reason for revision or withdrawal | To enhance corporate value through improved capital efficiency, achieve earnings growth while maintaining a high ROE, reduce the cost of shareholders’ equity, and increase the expected growth rate. |
| Risks identified | Risks and uncertainties inherent in the plans, forecasts and strategies, Data published on the business environment may produce different results depending on the survey methodology and timing., The company has not verified or guaranteed the accuracy, appropriateness or other qualities of information from sources other than the company. |
| Date of board resolution | 15 May 2026 |
| Publication date | 15 May 2026 |
Items this document does not state (10)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetInvestment amount by sectorSegment targetResults under the previous planSize of the Target Market
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.To enhance corporate value by improving capital efficiency, achieving earnings growth, maintaining a high ROE, improving the PER, reducing the cost of shareholders’ equity, and increasing the expected growth rate.
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.