Marvelous Inc. (7844): FY2025 Results Summary — Record Sales as New Console Titles and Pokémon Amusement Machines Drive Profit Surge

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Marvelous Inc.’s results materials label the fiscal year ended March 31, 2026 as “FY2026” (with the prior year as “FY2025”); this article follows the site’s convention of designating the most recently completed full fiscal year as FY2025 in the title, while all tables and segment labels below retain the company’s original FY2025/FY2026 notation exactly as presented in the source materials.

Marvelous Inc. reported record-high consolidated net sales and higher profit at every income stage for the fiscal year ended March 31, 2026, driven by the release of three new core console titles and continued strong performance in the Amusement business, particularly Pokémon-branded amusement machines. Net sales rose to 37,982 million yen, 135.8% of the FY2025 level (an increase of 10,019 million yen); operating profit rose to 2,248 million yen, 123.7% of the FY2025 level (an increase of 431 million yen); and profit attributable to owners of parent rose to 1,994 million yen, 243.6% of the FY2025 level (an increase of 1,175 million yen). The company said results exceeded its initial forecasts, and that ordinary profit and net income grew at a higher rate than operating profit, primarily due to foreign exchange gains and other factors. For the fiscal year ending March 2027, Marvelous forecasts a decrease in revenue but an increase in profit, and plans to raise its annual dividend to 15 yen per share from 12 yen.

Consolidated Results (Full-Year Actual)

All figures below are in million yen unless otherwise noted. Cost of sales rose to 24,482 million yen, 162.9% of the FY2025 level, while SG&A expenses were roughly flat at 11,251 million yen, 101.2% of the FY2025 level; within SG&A, R&D expenses fell to 1,347 million yen (79.4% of the FY2025 level) while advertising expenses rose to 2,510 million yen (150.5% of the FY2025 level). Non-operating income (expenses) swung to a positive 607 million yen from -17 million yen in FY2025, and ordinary profit rose to 2,856 million yen, 158.7% of the FY2025 level. Extraordinary items were -298 million yen versus -151 million yen in FY2025, which the company attributed to valuation and impairment losses on certain underperforming titles, offset by strong projects and businesses and cost controls.

Item	FY2025 (Apr 2024–Mar 2025) Actual	FY2026 (Apr 2025–Mar 2026) Actual	YoY Change (Amount)	YoY (% of FY2025)
Net sales	27,963	37,982	10,019	135.8%
Cost of sales	15,032	24,482	9,450	162.9%
SG&A expenses	11,113	11,251	138	101.2%
Operating profit (margin)	1,817 (6.5%)	2,248 (5.9%)	431	123.7%
Ordinary profit (margin)	1,800 (6.4%)	2,856 (7.5%)	1,056	158.7%
Profit attributable to owners of parent (margin)	818 (2.9%)	1,994 (5.3%)	1,175	243.6%

Segment Results

By segment, Digital Content Business net sales rose to 20,489 million yen, 158.9% of the FY2025 level; Rune Factory: Guardians of Azuma and STORY OF SEASONS: Grand Bazaar performed strongly, existing online game titles remained solid with improved profitability, and indie title Japanese Rural Life Adventure, published by subsidiary G-MODE, became a hit. However, the segment swung to a loss of 58 million yen from a profit of 937 million yen in FY2025, as DAEMON X MACHINA TITANIC SCION and Browser Sangokushi Ten fell short of expectations, with a one-time write-off of game assets recorded for Browser Sangokushi Ten. The Amusement Business posted record sales and profit, with net sales of 12,711 million yen (121.7% of the FY2025 level) and segment profit of 3,168 million yen (118.0% of the FY2025 level); Pokémon kids’ amusement machines continued to perform strongly domestically and overseas, and overseas sales and profit exceeded domestic results despite underperformance in North America. The Audio & Visual Business returned to profit, with net sales of 4,781 million yen (103.5% of the FY2025 level) and segment profit of 910 million yen versus a loss of 49 million yen in FY2025, supported by hit stage productions and strong licensing and secondary usage revenue from past anime titles, with profitability recovering to its highest level since the COVID-19 pandemic.

Segment	Metric	FY2025	FY2026	YoY (% of FY2025)
Digital Content Business	Net sales (million yen)	12,898	20,489	158.9%
Digital Content Business	Segment profit (million yen)	937	-58	–
Amusement Business	Net sales (million yen)	10,446	12,711	121.7%
Amusement Business	Segment profit (million yen)	2,685	3,168	118.0%
Audio & Visual Business	Net sales (million yen)	4,618	4,781	103.5%
Audio & Visual Business	Segment profit (million yen)	-49	910	–
Total segment profit	Segment profit (million yen)	3,574	4,020	112.5%
Company-level costs, etc.	(million yen)	-1,756	-1,771	100.9%
Operating profit total	(million yen)	1,817	2,248	123.7%

FY2027 Forecast

For the fiscal year ending March 2027, Marvelous forecasts a decrease in revenue and an increase in profit. The company expects lower sales due to fewer new core title releases, targeting operating profit of 3,000 million yen (133.4% of the FY2026 level), even as net sales are expected to fall to 30,000 million yen (79.0% of the FY2026 level), aiming for increased operating profit by improving profitability in the Digital Content business. Ordinary profit is forecast at 3,000 million yen (105.0% of the FY2026 level), and profit attributable to owners of parent is forecast at 2,000 million yen (100.3% of the FY2026 level). The company plans an annual dividend of 15 yen per share, a 3 yen increase from FY2026.

Item	FY2026 (Actual)	FY2027 (Forecast)	YoY (%)
Net sales (million yen)	37,982	30,000	79.0%
Operating profit (million yen)	2,248	3,000	133.4%
Ordinary profit (million yen)	2,856	3,000	105.0%
Profit attributable to owners of parent (million yen)	1,994	2,000	100.3%
Dividend per share (yen)	12	15	+3

Shareholder Returns

Marvelous plans to pay a dividend of 15 yen per share for the fiscal year ending March 2027, an increase of 3 yen from the 12 yen per share paid for FY2026 (April 2025 – March 2026).

Item	FY2026 (Actual)	FY2027 (Forecast)
Dividend per share (yen)	12	15

Topics: FY2027 Title Lineup

For FY2027, the Digital Content Business plans to release three new core titles (one online and two console titles), including PROJECT N (Tentative), a new mobile game in the Senran Kagura series scheduled for release in 2026, alongside a lineup of titles published by domestic and overseas subsidiaries including Marvelous USA, Inc., Marvelous Europe Limited, and G-MODE Corporation. In the Amusement Business, the company is focusing on acquiring new users and stimulating the market through continuous release of new sets, overseas market expansion, and proactive promotions for Pokémon kids’ amusement machines; it is launching a large-scale campaign for the latest domestic Pokémon amusement machine starting in April, and Pokémon MEZASTAR started operation in South Korea in April with plans to further expand to Vietnam and other regions, while the latest model in the TRY series of prize machines is scheduled to launch this winter. The Audio & Visual Business has numerous anime and stage productions planned again this fiscal year.

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