Results Briefing Materials for the Fiscal Year Ended March 31, 2025

‌Fiscal Year ended March 31, 2025

Marvelous Inc.

May 9, 2025

Stock Code: 7844 (Prime Market)

Copyright © Marvelous Inc. All rights reserved. 2

Copyright © Marvelous Inc. All rights reserved. 3

• Net sales decreased owing to fewer releases of core consumer titles compared with the previous term as well as a sales slump of new titles and failure to achieve planned sales of those titles

• Operating profit declined due to a decrease in revenue related to stage visual productions in the audio & visual business, write-off of content assets related to some anime titles, and losses from IP development investments

• Profit returned to black, driven by elimination of prior-year extraordinary losses, despite an extraordinary loss from the full write-off of some amusement machine assets and the reversal of deferred tax assets at subsidiaries

Fiscal Year ended March 2024

(Unit: million yen) Actual Profit ratio

Fiscal Year ended March 2025

Actual Profit ratio

YoY change

(Amount) (%)

Copyright © Marvelous Inc. All rights reserved. 4

‌ Segment Results

Copyright © Marvelous Inc. All rights reserved. 5

FY2025

‌(Unit: million yen) FY2024

Digital Contents

Business

Amusement Business

YoY change (Amount) (%)

Total

Net sales

Segment profit

Audio & Visual

Business

Digital Contents

Business

Amusement Business

Audio & Visual

Business

Total

Company-level costs, etc.

Operating profit total

2,415

1,817

-597

75.3%

• Net sales decreased owing to to fewer releases of core consumer titles in addition to a sales slump.

• Profit increased thanks to a decrease in cost despite an increase in research and development expenses that resulted from the influence of a review of accounting.

• "The Okhotsk Disappearance" and "BOKUJO MONOGATARI BEST PRICE Version" delivered strong sales and contributed to profit.

• Online: new title "BIKKURIMAN Wonder Collection" performed well, and existing titles remained strong.

■ ■ Net sales ■ ■ Segment profit (Unit: million yen)

12,898

474

937

15,435

FY2024 FY2025

FY2025

83.6% YoY

197.6% YoY

Net sales 12,898 million yen Segment profit 937 million yen

BIKKURIMAN Wonder Collection

(Smartphone)

Released in April 2024

©LOTTE/BIKKURIMAN Project ©Marvelous Inc.

The Hokkaido Serial Murder Case The Okhotsk Disappearance

~Memories in Ice, Tearful Figurine~

(Nintendo Switch /Steam®)

Released on September 12, 2024

©G-MODE Corporation/©ARMOR PROJECT ©KADOKAWA

FARMAGIA

(Nintendo Switch /PlayStation®5/Steam®)

Released on November 1, 2024

* Steam®: released on November 2, 2024

©2024 Marvelous Inc.

BOKUJO MONOGATARI SAIKAI NO MINERAL TOWN BEST PRICE

(Nintendo Switch )

Released on December 19, 2024

©2019 Marvelous Inc.

• Sales grew thanks to expanded overseas development and releases of new prize machines.

• Profit decreased due to expenses in advance for machine replacement, and weak performance of some new overseas businesses.

• An extraordinary loss was recorded due to the full write-off of machine assets for some underperforming titles.

  ■ ■ Net sales ■ ■ Segment profit (Unit: million yen)

  10,446

  FY2025

  Net sales 10,446 million yen

  115.8% YoY

  Segment profit 2,685million yen

  86.4% YoY

  9,021

  3,107

  2,685

  The latest Pokémon amusement machine

  (Kids' amusement machine)

  Started operations in July 2024

  ©2024 Pokémon. ©1995-2024 Nintendo/Creatures Inc./GAME FREAK inc.

  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 Ga-Olé (Overseas)

  (Kids' amusement machine)

  Overseas operations since December 2020

  ©2025 Pokémon. ©1995-2025 Nintendo/Creatures Inc./GAME FREAK inc. Developed by T-ARTS and MARV

  TM and ® are trademarks of Nintendo.

  
  
  

  Started to operate sequentially from November 2024

  ⒸMarvelous Inc.

  TRY CATCH

  (Prize machine)

  
  
  

  FY2024 FY2025

  
  
  ‌Audio & Visual Business [Overview]

  • Sales decreased due to a decrease in package sales and distribution revenue related to stage performances.

  • In addition to the above, a segment loss was recorded due to the full write-off of content assets for some anime titles and increased investment losses for IP development.

    ■ ■ Net sales ■ ■ Segment profit (Unit: million yen)

    531

    -49

    5,036 4,618

    FY2025

    Net sales 4,618 million yen

    91.7% YoY

    Segment profit -49 million yen

    -% YoY

    FY2024 FY2025

    Broadcasted from January to March 2025

    ©Michiro Ueyama,Shonen Gahosha/ "From Bureaucrat to Villainess: Dad's Been Reincarnated!" Production Committee,MBS

    From Bureaucrat to Villainess: Dad's Been Reincarnated!

    Broadcasted from January to March 2025

    ©2025 Maho Girls Precure Mirai Days Production Committee

    Witchy Precure!!

    ~MIRAI DAYS~

    Performed from January to February 2025

    (To be recorded in next term)

    ©1999 TAKESHI KONOMI／2025 MUSICAL THE PRINCE OF TENNIS PROJECT

    MUSICAL THE PRINCE OF TENNIS 4th SEASON

    SEIGAKU vs HIGA

    Performed from March to April 2025

    (To be recorded in next term)

    Ⓒ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

    舞台『魔道祖師』邂逅編

    
    
    
    
    
    ‌Full-Year Forecast for the

    Fiscal Year Ending March 2026

    Copyright © Marvelous Inc. All rights reserved. 10

    
    
    

  • ‌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.

    FY2026

    FY2025 YoY change

    (Unit: million yen) Net sales	Actual 27,963	Forecast 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	12	+2

    Full-Year Forecast for the Fiscal Year Ending March 2026
    
    
    ‌Status of the Medium-Term Plan

  • Based on the results of the first year (the previous fiscal year) and the plan for the second year (the current fiscal year), we determined that achieving the final-year (next fiscal year) plan would be difficult and have withdrawn the goal.

  • We have reviewed the medium-term plan under the new management structure.

  • Although some qualitative aspects will be retained, target figures will be disclosed on a single-year basis for the time being.

    Progress in figures for the medium-term plan

Status of medium-term strategic initiatives (achievements and challenges)

• Releasing four new titles from core series this fiscal year

• Revised pipeline from [Consumer 2 / Online 2] to [Consumer 3 / Online 1] since the announcement of the previous medium-term plan

  Rune Factory: Guardians of Azuma

  (Nintendo Switch 2/Nintendo Switch /Steam®)

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

  ©2025 Marvelous Inc.

  STORY OF SEASONS: Grand Bazaar

  (Nintendo Switch 2/ Nintendo Switch /Steam®)

  [Japan/ Asia/ Steam ®]

  Scheduled to be released on August 28, 2025 [North America/ Europe]

  Scheduled to be released on August 27, 2025

  ©2025 Marvelous Inc.

  
  
  

  DAEMON X MACHINA TITANIC SCION

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

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

  ©2025 Marvelous Inc.

  Browser Sangokushi Ten

  (Smartphone)

  Scheduled for release in 2025

  ⒸMarvelous Inc.

  
  
  

  Copyright © Marvelous Inc. All rights reserved.

  *The overseas release dates are those according to local time. 13

  
  
  ‌Amusement Business [lineup for FY2026]

  • The latest Pokémon amusement machine surpasses 100 million cumulative plays at a faster pace than its predecessor.

  • Overseas Pokémon MEZASTAR, launched in April, is off to a strong start.

The latest Pokémon amusement machine

(Kids' amusement machine)

Started operations in July 2024

©2024 Pokémon. ©1995-2024 Nintendo/Creatures Inc./GAME FREAK inc.

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)

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.

• Planning numerous anime and stage productions this fiscal year as well Preparing new initiatives in the anime business

You and Idol Precure♪

Started to be TV broadcasted in February 2025

ABC-A / Toei Animation

9-nine -Ruler's Crown

TV broadcast scheduled to start in July 2025

©CrearRave/Marvelous/GOOD SMILE FILM

April Showers Bring May Flowers

TV broadcast scheduled to start in July 2025

© Roku Sakura/KADOKAWA/April Showers Bring May Flowers Production Committee

A Gatherer's Adventure in Isekai

Anime adaptation confirmed

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

"World Trigger the Stage"

-B-Rank Wars Final Match-

Performed from April to May 2025

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

MUSICAL THE PRINCE OF TENNIS

4th SEASON National Tournament

SEIGAKU vs HYŌTEI

Scheduled in July to August 2025

©1999 TAKESHI KONOMI／2025 MUSICAL THE PRINCE OF TENNIS PROJECT

TOUKEN RANBU

THE STAGE Shiden Shingan Mikiwameru Manako

Scheduled in July to August 2025

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

NIPPON SANGOKU Stage

Scheduled in July to August 2025

©Ikka Matsuki/Shogakukan ©NIPPON SANGOKU Stage Project

Copyright © Marvelous Inc. All rights reserved. 16

‌(Million yen) Actual Profit ratio

Net sales

29,493

-

Cost of sales

17,473

-

SGA expenses 9,605 -

Thereof research

(Amount) (%)

-1,529

94.8%

-2,440 86.0%

1,508 115.7%

and development expenses

Thereof advertising expenses

509 -

2,035 -

1,186 332.8%

-367 81.9%

Operating profit

2,415

8.2%

-597

75.3%

Other profit 587 - -605 - %

Ordinary profit

3,002

10.2%

-1,202

59.9%

Extra ordinary profit/loss

-3,659 -

3,507 4.1%

Income taxes -140 - 968 - %

Profit attributable to owners of parent

-517

-%

1,336

- %

FY2024

FY2025

YoY change

‌

7,760 7,733

7,843

6,866

6,928

6,883

7,115

7,071

7,242

6,473

6,775

6,365

6,114

6,227

5,806

5,319

22.6% 22.6%

20.4%

18.1%

14.7%

16.0%

13.2%

12.4%

8.8%

7.7%

8.7%

7.5%

1,464

1,436

3.1%

3.5%

1,105

1,402

1.1%

994 1,024 973

594

780

531

621

237

527

251

- 9.9%

65

- 688

1Q 2Q 3Q 4Q FY2022

1Q 2Q 3Q 4Q FY2023

1Q 2Q 3Q 4Q FY2024

1Q 2Q 3Q 4Q FY2025

‌4,227

3,872

4,133

3,881

4,122

3,030

3,007

3,297

3,738

3,201

3,045

2,913

1,036

775

252

345

611

114

41

150

221

-46

-457

1Q

2Q

3Q

-855

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FY2023 FY2024

FY2025

Amusement Business

■ ■ Net sales ■ ■ Segment profit (Unit: million yen)

2,344

2,597

2,331

2,419

1,726

1,976

1,754

1,673

1,600

702

906

718

953

458

640

919

594

480

725

769

709

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FY2023

FY2024

FY2025

2,787 3,046 3,011

Audio & Visual Business

■ ■ Net sales ■ ■ Segment profit (Unit: million yen)

2,016

1,300

1,307

1,237

1,318

875

1,076

1,004

1,058

562

229

661

636

135

30

142

201

40

194

95

87

83

22

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

-242

4Q

FY2023 FY2024 FY2025

Digital Contents Business ■ ■ Net sales

■■ Segment profit (Unit: million yen)

‌Reportable segment Business category FY2025

(Unit: million yen)

Digital Contents Business Amusement Business Audio & Visual Business

Consumer games related 5,388

Online games related 7,509

Amusement games related 10,446

Music and video contents related 1,509

Stage performance related 3,109

Total net sales 27,963

10,000

6,929

6,227

6,866

6,883

7,115

7,071

2,373

1,559

1,890

5,319

1,446

1,741

2,147

5,806

1,121

1,189

1,548

2,345

1,737

1,187

1,848

1,723

1,450

1,924

1,459

2,782

2,132

1,749

1,734

1,787

1,580

2,419

2,013

2,787

3,046

3,011

2,344

1,754

2,331

1,726

1,977

213

349

1Q

257

618

2Q

266

396

3Q

1,673

243

832

2,597

481

1,600

411

890

4Q

353

409

897

3Q

1,534

285

952

1Q

282

2Q

4Q

451

552

1Q

2Q

250

807

3Q

521

796

4Q

FY2023 FY2024 FY2025

8,000

6,000

4,000

2,000

7,760 7,733

Quarterly changes

7,843

7,242

Unit: million yen

0

End of March 2025

‌(Unit: million yen) End of March 2024 Change in amount

FY2025

‌(Unit: million yen) FY2024 Change in amount

Cash and cash equivalents at end of period

12,677

-4,797

‌[Inquiries]

Corporate Planning Department, Corporate Division

E-mail:ir@marv.jp URL: https://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 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.