Marvelous Inc.TSE: 7844

Results Briefing Materials for the First Quarter of Fiscal Year Ending March 31, 2026

Jul 31, 2025 at 6:48 AM UTC · Issued by Marvelous Inc.

‌Fiscal Year Ending March 31, 2026 First Quarter

Results Briefing Materials

Marvelous Inc.

July 31, 2025

Stock Code: 7844 (Prime Market)

‌Contents

Fiscal Year Ending March 2026, First Quarter Results Summary

Segment Results and

Future Development

Full-Year Forecast for

the Fiscal Year Ending March 2026

Supplementary Material

‌Fiscal Year Ending March 2026, First Quarter Results Summary

‌Financial Summary for the Fiscal Year Ending March 2026, First Quarter

Revenues increased significantly due to the release of the new video game "Rune Factory: Guardians of Azuma" and strong performance in the Amusement Business.
While "Rune Factory: Guardians of Azuma" performed steadily, the substantial burden of development costs, recognized as cost of sales from release, limited the increase in operating profit despite higher revenue.

Ordinary profit and net profit for the period saw a reactionary decline due to a shift from recording foreign exchange gains in non-operating income in the same period last year to recording foreign exchange losses this year.

（Unit: million yen）		1Q FY ended March 2025 (April-June 2024)		1Q FY ending March 2026 (April-June 2025)		YoY change
（Unit: million yen）		Actual	Profit ratio	Actual	Profit ratio	Amount	%
Net sales		5,806	-	8,739	-	2,933	150.5%
	Cost of sales	2,833	-	5,621	-	2,787	198.4%
	SGA expenses	2,907	-	2,875	-	-31	98.9%
Operating profit		65	1.1％	243	2.8%	178	372.4%
Ordinary profit		373	6.4％	219	2.5%	-154	58.7%
Profit attributable to owners of parent		198	3.4％	112	1.3%	-85	56.8%

‌Segment Results and Future Development

‌Operating Results by Segment

	（Unit：million yen）	1Q FY2025 (April-June 2024)	1Q FY2026 (April-June 2025)	YoY change
	（Unit：million yen）	1Q FY2025 (April-June 2024)	1Q FY2026 (April-June 2025)	Amount	%
Net sales	Digital Contents Business	3,201	5,210	2,009	162.8%
	Amusement Business	1,600	2,637	1,036	164.8%
	Audio & Visual Business	1,004	891	-112	88.8%
	Total	5,806	8,739	2,933	150.5%
Segment profit	Digital Contents Business	-46	-349	-303	-
	Amusement Business	480	757	277	157.7%
	Audio & Visual Business	87	289	201	330.9%
	Total	521	697	175	133.7%

Company-level costs, etc.	-456	-453	2	99.5%
Operating profit total	65	243	178	372.4%

1Q Overview

‌Digital Contents Business

"Rune Factory: Guardians of Azuma" received strong reviews, and initial sales were favorable. However, heavy development cost burden, cost ahead as of first quarter.
Marvelous USA, our overseas subsidiary, released the Nintendo Switch North American version of "The Hundred Line -Last Defense Academy-".
In online games, "BIKKURIMAN Wonder Collection" celebrated its first anniversary, and other existing games also performed strongly through collaborative events and similar initiatives.
■ ■ Net sales ■ ■ Segment profit（Unit: million yen）
Net sales
Rune Factory: Guardians of Azuma
（Nintendo Switch 2/ Nintendo Switch /Steam®）
The Hundred Line
-Last Defense Academy-
（Nintendo Switch ）
3,201
-46
5,210
-349
5,210 million yen
YoY：162.8%
Segment profit
-349 million yen
YoY：- %
BIKKURIMAN Wonder Collection
(Smartphone)
【 North American Version】 Released on April 24

[Japan/ North America/ Europe/ Asia/ Steam®]

Released on June 5, 2025

※ Acquisition Title from Aniplex Inc.

©Aniplex, Tookyo Games. Licensed to and published by XSEED Games.

Dolphin Wave

(Smartphone/PC)

©Marvelous Inc.

©HONEY PARADE GAMES Inc.

Released in October 2022

©LOTTE/BIKKURIMAN Project ©Marvelous Inc.

Released in April 2024

1Q FY2025 1Q FY2026

*The overseas release dates are those according to local time. 7

Upcoming Lineup

‌Digital Contents Business

In consumer games, we're set to release core titles one after another, "STORY OF SEASONS: Grand Bazaar" in August, "DAEMON X MACHINA TITANIC SCION" in September.
As " Rune Factory: Guardians of Azuma" moves into its recoupment period, we anticipate upfront costs for the above two titles.
In online games, pre-registration will begin soon for the official release of "Browser Sangokushi Ten" by the end of the year.
We will continue to carefully select and acquire indie and acquisition titles.
©2025 Marvelous Inc.
[Japan/ Asia/ Steam®]
Scheduled to be released on August 28, 2025 [North America/ Europe]
Scheduled to be released on August 27, 2025

STORY OF SEASONS: Grand Bazaar

(Nintendo Switch 2/ Nintendo Switch /Steam®)

[Japan/ North America/ Europe/ Asia/ Steam®] Scheduled to be released on September 5, 2025

DAEMON X MACHINA TITANIC SCION

(Nintendo Switch 2/PlayStation®5/ Xbox Series X|S /Steam®)

ⒸMarvelous Inc.

Scheduled to be distributed in 2025

Browser Sangokushi Ten

(Smartphone)

*The overseas release dates are those according to local time.

1Q Overview/Upcoming Lineup

‌Amusement Business

Sales and profit increased year on year due to strong performance of the Pokémon amusement machine series domestically and internationally.
Especially, the overseas "Pokémon MEZASTAR" , which started operating in April, had an initial rollout that significantly exceeded our expectations.
We will continue to focus on acquiring new users and engaging existing ones.
The latest Pokémon amusement machine
(Kids' amusement machine)
■ ■ Net sales ■ ■ Segment profit（Unit: million yen）
1,600
480
2,637
757
Net sales
2,637million yen
YoY：164.8%
Segment profit
757 million yen
YoY：157.7%
Started operations in July 2024

Developed by T-ARTS and MARV

ポケットモンスター・ポケモン・Pokémonは任天堂・クリーチャーズ・ゲームフリークの登録商標です。

Pokémon MEZASTAR (Overseas)

(Kids' amusement machine)

1Q FY2025 1Q FY2026

Overseas operations since April 2025

©Pokémon. ©Nintendo/Creatures Inc./GAME FREAK inc.

Developed by T-ARTS and MARV TM, ®, and character names are trademarks of Nintendo.

1Q Overview

‌Audio & Visual Business

Despite a revenue decline from the prior period's liquidation of unprofitable businesses, profitability significantly improved, largely thanks to the concentration of revenue this quarter from strong titles that began performances in the previous period and became highly active.
We continued to hold the latest performances of popular series and other events, which were well-received.
We launched a new short anime project "Light novel anime".
■ ■ Net sales ■ ■ Segment profit（Unit: million yen）
舞台『魔道祖師』邂逅編
"World Trigger the Stage"
-B-Rank Wars Final Match-
1,004
891
Net sales
891 million yen
YoY：88.8%
Performed from April to May 2025

Performed from March to April 2025

Ⓒ舞台『魔道祖師』製作委員会

改編自晋江文学城簽約作者墨香銅臭同名小説

©Daisuke Ashihara/SHUEISHA,©"World Trigger the Stage"project

289

Segment profit

289 million yen

YoY：330.9%

MUSICAL『MORIARTY THE PATRIOT』 A SCANDAL IN BRITISH EMPIRE REPRISE

Light novel anime

©Hikaru Miyoshi/SHUEISHA

©MUSICAL『MORIARTY THE PATRIOT』PROJECT

Performed from May to June 2025

Distribution started sequentially in June 2025

1Q FY2025 1Q FY2026

©Light Novel Anime

Upcoming Lineup

‌Audio & Visual Business

We have many more anime and stage projects planned for the future.

©CrearRave/Marvelous/GOOD SMILE FILM

9-nine -Ruler's Crown

Started to be TV

broadcasted in July 2025

April Showers Bring May Flowers

Started to be TV

broadcasted in July 2025

©Masuo Kinoko, AlphaPolis/A Gatherer's Adventure in Isekai Production Committee

A Gatherer's Adventure in Isekai

TV broadcast scheduled to start in October 2025

You and Idol Precure The Movie:

For You! Our Kirakilala Concert!

Scheduled to be released on September 12,

2025

©NITRO PLUS·EXNOA LLC/Touken Ranbu the Stage Production Committee

©Ikka Matsuki/Shogakukan ©NIPPON SANGOKU Stage Project

NIPPON SANGOKU Stage

TOUKEN RANBU THE STAGE Shiden

Shingan Mikiwameru Manako

MUSICAL THE PRINCE OF TENNIS 4th SEASON

National Tournament SEIGAKU vs HYŌTEI

Performed from July to August 2025

©Homura Kawamoto,Toru Naomura/SQUARE ENIX,KAKEGURUI THE STAGE PROJECT

KAKEGURUI THE STAGE

Scheduled in September 2025

‌Full-Year Forecast for

the Fiscal Year Ending March 2026

‌Full-Year Forecast for the Fiscal Year Ending March 2026

There are no changes to the initial forecasts. We plan to increase sales and profits in the fiscal year ending March 2026.
Development expenses for core titles in the digital contents business are significant, leading to a decline in profit margins. Full-fledged profit contributions are expected in the second half, resulting in a company-wide profit plan that is heavily back-end loaded.
The dividend is planned at 12 yen per share, an increase of 2 yen from the previous fiscal year, as forecasted at the beginning of the period.

（Unite: million yen）	FY2025	FY2026	YoY change
（Unite: million yen）	Actual	Forecast	%
Net sales	27,963	35,000	125.2％
Operating profit	1,817	2,000	110.0％
Ordinary profit	1,800	2,000	111.1％
Profit attributable to owners of parent	818	1,400	171.0％

Dividends (yen) 10

＋2

‌Supplementary Material

‌Statement of income

（Unit：million yen)

1Q FY2025

(April-June 2024)

1Q FY2026

(April-June 2025)

YoY change

Actual

Profit ratio

Actual

Profit ratio

Amount

Net sales

5,806

8,739

2,933

150.5%

Cost of sales	2,833	-	5,621	-	2,787	198.4%
SGA expenses	2,907	-	2,875	-	-31	98.9%
Thereof research and development expenses	525	-	318	-	-207	60.6%
Thereof advertising expenses	377	-	658	-	280	174.2%
Operating profit	65	1.1％	243	2.8％	178	372.4%
Other profit	307	-	-24	-	-332	-
Ordinary profit	373	6.4％	219	2.5％	-154	58.7%
Extra ordinary profit/loss	-	-	-	-	-	-
Income taxes	173	-	108	-	-65	62.5%

Profit attributable to owners of parent

198

3.4％

112

1.3％

-85

56.8%

‌Changes in Quarterly Financial Results

Net sales (million yen)

Oparating profit (million yen)

Operating profit ratio（%）

8,739

5,319

14.7%

6,227

16.0%

6,866 6,928 6,883 7,115

20.4%

7,760 7,733

13.2%

5,806

7,071

7,843

12.4%

7,242

780

994

1,402

-9.9%

-688

7.7%

531

8.7%

621

3.1%

237

1,024

1.1%

7.5%

527

973

3.5%

243

2.8%

251

1Q 2Q 3Q 4Q FY2023

1Q 2Q 3Q 4Q FY2024

1Q 2Q 3Q 4Q FY2025

2Q 3Q 4Q FY2026

5,210

4,133

3,881

4,122

3,297

3,201

3,738

3,045

2,913

775

114

611

150

221

-457 3Q

-46

-349

FY2024 FY2025 FY2026

‌Changes of Sales and Profit by Business Segment

Digital Contents Business

■■ Net sales

■■ Segment profit

953

769

2,637

（Unit: million yen）

Amusement Business

■■ Net sales

■■ Segment profit

-242

FY2024

FY2025

FY2026

（Unit：million yen）

640

FY2024

FY2025

FY2026

1,673

2,597 2,331 2,419

919

594

480

1,600

2,787 3,046 3,011

725

709

757

Audio & Visual Business

1,076

201

636

194

1,307

2,016

1,004

1,237 1,318

891

289

1,058

■■ Net sales

■■ Segment profit

（Unit：million yen）

95 87 83 22

‌Sales Changes by Business

Sales by Business

1Q FY ending March 2026

（April - June 2025）

Reportable segment

Business category

（Unit: million yen）

Digital Contents Business

■Consumer games related 3,800

Online games related 1,409
Amusement Business ■ Amusement games related 2,637
■Music and video contents related 304
Audio & Visual Business
- Stage performance related 587

Quarterly changes

8,739

Total net sales

587

552

304

796

807

952

521

451

285

1,600

2,637

250

3,046

5,806

1,673

243

832

1,787

3,800

8,739

1,534

897

282

7,760

7,733

7,843

2,787

3,011

353

1,409

7,242

FY2024 FY2025 FY2026

1,734

1,749

6,883

2,419

7,115

7,071

1,737

481

409

2,013

1,187

2,597

1,848

1,924

1,121

1,890

1,723

1,189

2,345

2,147

1,559

2,373

2,331

（ Unit：million yen ）

Consumer game

Online game

Amusement game

Music and video contents

Stage perfomance

‌Balance Sheet

（Unit：million yen）		End of March 2025	End of June 2025	Change in amount
	Current assets	22,636	25,562	2,925
	Non-current assets	10,266	10,471	204
Total assets		32,903	36,033	3,130
	Current liabilities	6,551	10,235	3,683
	Non-current liabilities	165	165	-
Total liabilities		6,716	10,400	3,683
Total net assets		26,187	25,633	-553

‌Inquiries

Corporate Planning Department, Corporate Division

E-mail ir@marv.jp

URLhttps://corp.marv.jp

This document contains forward-looking statements that are based on information currently available to the Company and that may change as a result of numerous factors including the macroeconomic environment and industry trends relevant to the Company. Therefore, these forward-looking statements are made subject to certain risks and uncertainties that could cause results, including actual business performance, to differ materially from those presented.

This document has been machine translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.