The following is a summary of the key questions and answers from the operating results briefing for FY2025, held on May 12, 2026.
【Q1】 Please explain the background behind the forecasted year-on-year decrease in Operating Profit (Non-GAAP) for FY2026.
【A1】 Okamura: For the Game Business, we expect a decrease in revenue and profit, as the significant initial performance of Pokémon Trading Card Game Pocket in the previous FY, primarily in the first half, has been taken into account.
We expect performance of this title will continue to be the driver for the business, although the new titles from the soft launch strategy are in progress. For the Live Streaming Business, we do not expect significant changes in either revenue or profit relatively compared to other businesses.
For the Sports & Smart City Business, we expect to generate around 3.0 billion yen annual segment profit, with smart city initiatives starting to contribute.
For the Healthcare & Medical Business, we are targeting profitability for the segment.
In parallel, we will also proceed with investments necessary for future growth, including in the New Businesses area.
【Q2】 Regarding the Healthcare & Medical Business, please tell us about the path to achieving profitability in FY2026.
【A2】 Okamura: Although it is taking more time than initially expected, we are promoting initiatives towards achieving profitability. In the Healthcare Area, we have built a lean structure, the Data Use Business is growing, and the
Data Health Business is also progressing steadily. In the Medical Area, we are advancing prioritization & focus, and by successfully capturing the pipeline for Join Mobile Clinic and Join in Japan in addition to this, we believe achieving profitability will be in sight.
【Q3】 Regarding the AI-ALL-IN strategy, could you tell us about the actual feeling of progress and the timing of its earnings contribution?
【A3】 Namba: We are seeing significant improvement in productivity. By reorganizing operations on the premise of AI, we have achieved results such as reducing human involvement to 10% in certain operations.
On the other hand, as mentioned at the AI Day this March, we will further promote shifting personnel to profit-generating businesses going forward. Regarding new businesses, through initiatives at DeNA and Delight Ventures, Products To Consumers, Solutions To Business, and enterprise products are being created.
Each of these is yielding very interesting results, but we expect the earnings contribution will not be immediate, but rather will contribute over the mid to long term from next year onwards.
【Q4】 Please tell us the background behind Chairman Namba assuming the role of President.
【A4】 Namba: The background is as explained and disclosed. Having seen our organization become more autonomous, we determined that the time is ripe-if we are going to change, now is the time. We want to be recognized by our stakeholders as a growth company, and we have been considering how to evolve the organization into a structure that no other company has attempted before. Through repeated discussions, we reached the decision that changing to the best leadership structure, where I, the founder, lead the execution, is the way forward.
【Q5】 Since the founding, you have diversified your businesses, but how do you define the current DeNA?
【A5】 Namba: We want to be a company that generates a conglomerate premium. We have always taken on new challenges, and we have various businesses ranging from those launched from scratch to those added and grown through M&A. There are various patterns of value creation, such as businesses with exits to the best owners and others developed into mainstay businesses.
We consider ourselves a business creation platform; we take on new challenges, and believe the very essence of our business is to create added value and deliver Delight.
【Q6】 In the Game Business's Soft Launch Strategy, is know-how being generated not only to reduce costs but also to increase the probability of success?
【A6】 Okamura: During the development process under the Soft Launch Strategy, we closely analyze the user reaction and screen titles based on proprietary milestones. We adopt a process of pursuing further development & polishing, reflecting feedback & improvement, with only those titles entering the main development stage after clearing proprietary milestones. For FY2026, we expect to launch 1-2 titles in the full-scale operation phase.
【Q7】 In your explanation, you mentioned an organizational evolution over a roughly three-year period. Please tell us the intent behind this and the status of developing next-generation management team.
【A7】 Namba: To firmly execute the evolution, it is necessary to set a timeframe, so we consider three years as a benchmark. We want to quickly move beyond a pyramid-shaped organizational structure where the top decides everything.
The leaders of each business are resilient; there are excellent personnel around them, and the next-generation talent is steadily developing. Our greatest strength is our people. We intend to carry out this organizational evolution together with these members, and collaboratively consider the best leadership structure that follows.
【Q8】 We understand that Chairman Namba and President Okamura have been
making decisions together up until now, but how do you envision this under the new management structure?
【A8】 Namba: We have collaborated on important decisions up until now, and that will not change going forward. However, I will take on the role responsible for execution.
【Q9】 What are the lessons learned from Impairment losses in the past?
【A9】 Okamura: To achieve growth, investments are necessary. On the other hand, regarding investment decisions, I have explained that we ensure a
decision-making process with maximum awareness of capital efficiency, taking into account the contribution toward ROE targets. This approach is also based on our past experiences.
For future growth, regarding M&A, we will proactively pursue M&A opportunities; top-tier focus areas include sports & smart cities, and IP & anime-related businesses, both domestic and international.
【Q10】 Do you have any expectations regarding the duration of the President's term under the new management structure?
【A10】 Namba: We aim to accomplish the organizational evolution over a roughly three-year period. Regarding the management structure after that, we will determine the best leadership structure for the organization at that time, based on the outcome of the evolution.
【Q11】 Given the shareholdings by activist investors, what is your expected shareholder composition going forward?
【A11】 Namba: From the capital markets, we sometimes receive feedback pointing out issues that we have already recognized we must do. As a listed company, it is not a matter of us choosing our shareholders; rather, we would like to firmly engage in dialogue with our shareholders and investors.
【Q12】 While you place importance on ROE and shareholder returns, I believe there is also a need for growth investments. As an "Eternal Venture," how do you balance these out?
【A12】 Namba: Regarding the use of capital, we consider growth investments as our highest priority. Improving capital efficiency is also important, so rather than letting capital sit, we are implementing the recently announced shareholder returns and other measures. We will strive to communicate with the capital markets, and we intend to consider our policies with flexibility.
【Q13】 Looking ahead to the future market conditions, what specific evolutions will
you be driving? Also, is it correct to understand that your highest priority is to accelerate the creation of new businesses?
【A13】 Namba: It is not just the point you asked about; we will focus on advancing the five pillars listed on page 31 of the presentation materials: Strengthen Business Structure, M&A, New Businesses, Diversifying Target Income, and Organizational Evolution.
Further details to be provided at the Q1 FY2026 Operating Results Briefing. Amid rapid and significant changes in the business environment, the situation is extremely fluid. For example, there might be arguments that white-collar jobs will disappear or that middle management is unnecessary, and then the exact opposite argument quickly emerges. In such an environment, it is important to build an organizational structure that is resilient to change.
Although it is somewhat conceptual, I would like to explore an organizational structure where DeNA itself becomes an ecosystem.
At that time, I believe that the business vision, the strength of our passion, and driving agility and velocity will be crucial.