February 13, 2026
Name of listed company: GungHo Online Entertainment, Inc.
Stock exchange listing: Tokyo Stock Exchange
Code number: 3765
URL: https://www.gungho.co.jp/en/
Representative: Kazuya Sakai, Representative Director & President, CEO
Contact: Kazumasa Takayama, Corporate Officer, CFO & IRO, Executive General Manager of Corporate Planning Division
TEL: 03-6895-1650
Annual general shareholders' meeting date: March 30, 2026 Securities report issuing date: March 19, 2026
Dividend payment date: April 20, 2026
Supplemental information for financial statements: Yes
Financial results briefing session: Yes (For institutional investors and analysts)
(Amounts are rounded off to the nearest million yen.)
Consolidated financial results for the fiscal year ended December 31, 2025 (from January 1, 2025 to December 31, 2025)
Consolidated operating results (% figure represents the year-on-year change)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Fiscal year ended December 31,
2025
93,242
(10.0)
5,056
(71.1)
6,780
(66.1)
1,407
(87.4)
Fiscal year ended December 31,
2024
103,600
(17.3)
17,491
(37.3)
20,013
(31.7)
11,171
(32.0)
(Note) Comprehensive income
Fiscal year ended December 31, 2025
5,969 million yen
(61.5%)
Fiscal year ended December 31, 2024
15,491million yen
(34.4%)
Profit per share
Diluted net profit per share
Return on equity
Ordinary profit on total assets
Operating profit to net sales
Yen
Yen
%
%
%
Fiscal year ended December 31,
2025
25.79
25.51
1.1
3.9
5.4
Fiscal year ended December 31,
2024
182.67
180.70
8.8
11.7
16.9
Consolidated financial position
Total assets
Net assets
Shareholders' equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
Fiscal year ended December 31,
2025
169,474
151,333
71.9
2,242.37
Fiscal year ended December 31,
2024
175,464
153,535
72.6
2,280.75
(Reference) Shareholders' equity: Fiscal year ended
December 31, 2025
121,856million yen
Fiscal year ended December 31, 2024
127,311 million yen
Status of consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Balance of cash and cash equivalents at the end of the year
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Fiscal year ended December 31,
2025
149
(28,676)
(8,827)
31,021
Fiscal year ended December 31,
2024
17,132
(47,588)
(12,217)
68,171
Dividends
Dividends per share
Total dividends
Dividend payout ratio
(Consolidated)
Dividend on equity ratio
(Consolidated)
1st quarter
2nd quarter
3rd quarter
4th quarter
Total
Yen
Yen
Yen
Yen
Yen
Millions of
yen
%
%
Fiscal year ended December 31,
2024
-
0.00
-
60.00
60.00
3,349
32.8
2.7
Fiscal year ended December 31,
2025
-
0.00
-
90.00
90.00
4,890
348.9
4.0
Fiscal year ending December 31, 2026(Forecast)
-
-
-
-
-
-
(Note) The year-end dividend for the fiscal year ended December 31, 2025 is currently a forecast, and will be confirmed by the resolution of the Board of Directors meeting scheduled to be held on March 30, 2026.
For details, please refer to "Change to Shareholder Return Policy" in "Information Related to the Consolidated Earnings Forecast and Other Future Projections" on page 3.
Dividend forecasts for the fiscal year ending December 31, 2026 have yet to be determined.
Consolidated financial results forecast for the fiscal year ending December 31, 2026(from January 1, 2026 to December 31, 2026)
The GungHo Group engages in the content business that is highly novel in nature and is subject to facing sudden, short-term changes in the operating environment. Since this makes it difficult to calculate proper and rational earnings forecasts, the Company adopts the policy of providing timely disclosure of financial results and summary of operations on a quarterly basis while refraining from disclosing its full-year consolidated earnings forecast.
*Notes
Changes in significant subsidiaries during the period (Changes in scope of consolidation of specified subsidiaries.)
Changes in accounting policies, changes in accounting estimates and restatements
: No
Changes in accounting policies due to revisions of accounting standards : Yes
Changes in accounting policies due to reasons other than 1) : No
Changes in accounting estimates : No
Restatements : No
Number of shares of common stock issued
Fiscal year
Fiscal year
ended December
69,161,416
shares
ended December
83,161,416
shares
31, 2025
31, 2024
Fiscal year
Fiscal year
ended
December
14,818,472
shares
ended
December
27,341,332
shares
31, 2025
31, 2024
Fiscal year
Fiscal year
ended December
54,577,520
shares
ended December
61,157,128
shares
31, 2025
31, 2024
Number of shares of common stock outstanding at the end of the period (including treasury shares)
Number of treasury shares at the end of the period
Average number of shares during the period
(Reference) Summary of non-consolidated operating results
1. Non-consolidated financial results for the Fiscal Year Ended December 31, 2025 (From January 1, 2025 to December 31, 2025)
Non-consolidated operating results (% figure represents the year-on-year change)
Net sales
Operating profit
Ordinary profit
Net profit
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Fiscal year ended December 31,
2025
33,579
(32.5)
(3,702)
-
(3,470)
-
(3,653)
-
Fiscal year ended December 31,
2024
49,731
3.3
7,731
(26.4)
7,831
(29.7)
5,400
(27.9)
Net profit per share
Diluted net profit per share
Yen
Yen
Fiscal year ended December 31,
2025
(66.94)
-
Fiscal year ended December 31,
2024
88.31
87.35
Non-consolidated financial position
Total assets | Net assets | Shareholders' equity ratio | Net assets per share | |
Millions of yen | Millions of yen | % | Yen | |
Fiscal year ended December 31, 2025 | 87,625 | 81,315 | 91.5 | 1,474.99 |
Fiscal year ended December 31, 2024 | 102,666 | 93,137 | 89.3 | 1,642.30 |
(Reference) Shareholders' equity: Fiscal year ended
December 31, 2025 80,155 million yen
Fiscal year ended
December 31, 2024 91,673 million yen
This report of consolidated financial results is outside scope of the audit review process of Certified Public Accountants and Auditor.
Appropriate use of earnings forecast and other matters to note
This document contains forward-looking statements including forecasts in relation to the results of operations and they are based on information available to the Company at the time of preparing the document along with certain assumptions that are deemed to be rational. Actual results may differ materially from those expressed or implied by the statements due to various factors. For the assumptions underlying the earnings forecast presented and other information regarding the use of such forecasts, please refer to "Information Related to the Consolidated Earnings Forecast and Other Future Projections" on page 3 of the Appendix.
The Company plans on holding a financial results briefing session for investors as follows. All documents distributed at the briefing session will be posted on the company's website after the briefing session is held.
Financial results briefing session for institutional investors and analysts: Friday, February 13, 2026
Table of Contents for Appendix
Overview of Operating Results 2
Overview of Operating Results for the current fiscal year 2
Overview of Financial Position for the current fiscal year 3
Overview of the cash flow for the current fiscal year 3
Information Related to the Consolidated Earnings Forecast and Other Future Projections 3
Basic stance on selection of accounting standards 3
Consolidated Financial Statements and principal notes 5
Consolidated Balance Sheets 5
Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 7
Changes in Net Assets 9
Consolidated Cash Flow Statements 11
Notes on consolidated financial statements 12
(Notes on Going-concern Assumption) 12
(Changes in Accounting Policies) 12
(Changes in accounting estimates) 12
(Restatements) 12
(Changes in presentation method) 12
(Segment Information) 12
(Per share information) 15
(Significant Subsequent Events) 16
-1-