Koei Tecmo Holdings (3635) Q2 2026 earnings summary

Executive summary

• Net sales for H1 FY25 were ¥31,268 million, down 11.2% year-over-year, with operating profit at ¥7,964 million (down 25.2%) and net profit at ¥13,465 million (down 15.7%).

• Despite declines, first-half results exceeded initial expectations, with sales and operating profit surpassing forecasts.

• Comprehensive income surged to ¥46,411 million, a 256.4% increase year-over-year, mainly due to valuation gains on available-for-sale securities.

Financial highlights

• Gross profit for H1 FY25 was ¥17,238 million, down from ¥20,593 million year-over-year.

• Ordinary profit for H1 FY25 was ¥17,795 million, down 15.3% YoY.

• Basic earnings per share for H1 FY25 was ¥42.61, down from ¥50.58 YoY.

• Total assets increased to ¥314,239 million as of September 30, 2025, from ¥209,828 million at the previous fiscal year-end.

• Net assets rose to ¥248,726 million, with an equity-to-asset ratio of 78.9%.

Outlook and guidance

• Full-year FY25 forecast: sales ¥92,000 million (+10.6% YoY), operating profit ¥31,000 million (−3.5% YoY), net profit ¥27,000 million (−28.2% YoY), ordinary profit ¥37,000 million (−26.0% YoY).

• Annual dividend per share forecast is ¥60.00, unchanged from the previous year.

• Dividend per share forecasted at ¥43, with a payout ratio of 51.8%.

• Full-year forecast remains unchanged, with new title releases concentrated in the second half.

• No large temporary expenses assumed; exchange rate premise is 140 yen per dollar.