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Investor Relations

Financial Information

  • Financial Highlights
  • Consolidated Statements of Income
  • Consolidated Balance Sheets
  • Consolidated Statements of Cash Flows

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Net Sales and Operating Income Margin(03/2017 to 03/2021)
Net Income and Consolidated Dividend Payout Ratio(FY2017/3 to FY2021/3)
03/2018 03/2019 03/2020 03/2021 03/2022
For the year/Millions of Yen Net sales 250,394 271,276 260,527 332,532 365,275
Operating income 38,176 24,635 32,759 47,226 59,261
Ordinary income 36,124 28,415 32,095 49,983 70,704
Profit attributable to owners of parent 25,821 19,373 21,346 26,942 51,013
03/2018 03/2019 03/2020 03/2021 03/2022
At year-end/Millions of Yen Total Assets 259,713 282,614 302,634 336,144 380,902
Net Assets 193,359 206,445 221,928 243,278 284,429
03/2018 03/2019 03/2020 03/2021 03/2022
Per Share of Common Stock/Yen Earnings 215.33 162.57 179.02 225.75 426.82
Net Assets 1,617,58 1,726.32 1,854.10 2,029.69 2,370.48
Dividends per share (annual) 65.00 47.00 54.00 78.00 129.00
03/2018 03/2019 03/2020 03/2021 03/2022
Key Ratios Operating income margin 15.2% 9.1% 12.6% 14.2% 16.2%
Ordinary income margin 14.4% 10.5% 12.3% 15.0% 19.4%
Return on equity 13.8% 9.7% 10.0% 11.6% 19.4%
Equity ratio 74.2% 72.8% 73.1% 72.1% 74.4%
Consolidated dividend payout ratio 30.2% 30.3% 30.2% 34.6% 30.2%

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(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Cash flows from
operating activities		 Profit before income taxes 35,927 23,131 30,793 45,694 70,223
Depreciation and amortization 5,859 6,801 7,417 7,515 7,594
Impairment loss 40 368 367 520 109
Increase (decrease) in allowance for doubtful accounts 169 44 (73) (5) 60
Increase (decrease) in allowance for doubtful accounts 1,096 (36) 780 (1,081) 3,271
Increase (decrease) in provision for sales returns (1,979) 5,032 (4,759) 1,486 －
Increase (decrease) in refund liabilities － － － － (761)
Increase (decrease) in provision for directors' retirement benefits － (35) － － (34)
Increase (decrease) in provision for game arcade closings (48) (50) 36 148 (172)
Decrease (increase) in net defined benefit asset (64) (44) 96 134 (152)
Increase (decrease) in net defined benefit liability 205 96 271 391 268
Interest and dividends income (121) (167) (363) (76) (102)
Subsidy income related to COVID-19 － － － (335) (290)
Interest expenses 84 107 135 87 150
Foreign exchange losses (gains) 2,940 (4,072) 665 (1,860) (10,043)
Loss (gain) on sales of investment securities (351) (0) － － －
Loss (gain) on sales of shares of subsidiaries and associates 371 － － － (353)
Loss (gain) on sale of crypto assets 371 － － － (353)
Loss (gain) on sale of crypto assets － － － － (2,904)
Loss on disposal of property and equipment 131 198 130 316 212
Gain on sale of property and equipment (9) (15) (2) (1) (6)
Loss on sale of property and equipment 18 － － 18 －
Loss (gain) on valuation of investment securities － － － 449 351
Loss on valuation of shares of subsidiaries and associates － 680 － 251 239
Decrease (increase) in notes and accounts receivable 1,128 (10,799) (1,195) (1,207) 1,332
Decrease (increase) in inventories (11,092) (7,108) (22,632) (4,405) (17,207)
Increase (decrease) in notes and accounts payable-trade 523 7,720 1,581 (835) 2,641
Decrease (increase) in other current assets 1,994 (2,307) (614) (3,477) (575)
Decrease (increase) in other non-current assets (531) (659) 1,298 (1,016) 56
Increase (decrease) in other current liabilities (3,648) 2,038 3,585 6,765 (508)
Other,net 874 1,065 270 290 (321)
Subtotal 33,098 21,988 17,791 49,768 53,077
Interest and dividends income received 121 167 363 76 102
Interest expenses paid (84) (106) (142) (87) (150)
Subsidy income related to COVID-19 received － － － 335 290
Income taxes paid (5,213) (12,683) (2,538) (16,764) (26,161)
Income taxes refund 2,717 2,768 2,530 1,672 412
Net cash provided by operating activities 30,638 12,135 18,005 35,000 27,570

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Cash flows from investing activities Payments into time deposits (4,539) (3,993) (5,141) (3,284) (3,449)
Proceeds from withdrawal of time deposits 4,157 3,976 5,220 3,284 3,449
Purchases of property and equipment (6,378) (8,450) (5,827) (4,949) (5,494)
Proceeds from sale of property and equipment 9 15 2 1 7
Purchase of intangible assets (858) (1,190) (1,587) (1,449) (2,464)
Payments for acquiring investment securities － (1,074) (1,612) (527) (640)
Proceeds from sale of investment securities 642 0 － － －
Proceeds from investments in securities － － － － 697
Payments for investments in capital (114) (235) (367) (144) (1,306)
Purchase of investments in subsidiaries (210) (380) (85) (161) (687)
Proceeds from the liquidation of subsidiaries and associates 5 8 － － －
Payments for acquiring shares in subsidiaries and affiliated companies － (294) － － －
Proceeds from sale of shares of subsidiaries and associates － － － － 382
Payments for acquiring bonds in subsidiaries and affiliated companies － (697) － － －
Proceeds from sale of crypto assets － － － － 2,904
Payments for guarantee deposits (1,204) (760) (433) (31) (2,059)
Proceeds from collection of guarantee deposits 431 208 193 622 527
Other,net (133) (9) (400) (11) 7
Net cash used in investing activities (8,191) (12,875) (10,039) (6,651) (8,124)

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Cash flows from financing activities Payments for short‐term loans － － (8,525) － －
Proceeds from issuances of new stocks 64 106 － － －
Purchase of treasury stock (9,262) (8) (9) (18) (8)
Repayments of lease obligations － － (485) (623) (671)
Proceeds from exercise of share options － 5 293 425 599
Cash dividends paid (6,068) (7,735) (5,599) (6,437) (9,308)
Other,net (23) (23) 276 5 46
Net cash used in financing activities (15,290) (7,656) (14,048) (6,647) (9,343)

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Effect of exchange rate changes on cash and cash equivalents (196) 1,221 (479) 1,049 6,458
Net increase (decrease) in cash and cash equivalents 6,960 (7,173) (6,562) 22,750 16,561
Cash and cash equivalents at beginning of the year 127,395 134,355 127,181 121,311 144,061
Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation － － 691 － －
Cash and cash equivalents at end of the year 134,355 127,181 121,311 144,061 160,622

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(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Net sales 250,394 271,276 260,527 332,532 365,275
Cost of sales 129,519 146,907 139,012 171,837 169,960
Gross profit 120,874 124,368 121,515 160,695 195,314
Reversal of provision for sales returns 6,118 4,152 9,016 4,150 －
Provision for sales returns 4,139 9,185 4,257 5,637 －
Net gross profit 122,854 119,335 126,274 159,208 195,314

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Selling, general and administrative expenses Packaging freight charge 1,874 2,062 2,304 2,436 2,999
Advertising expense 22,585 29,460 21,006 28,239 24,739
Sales promotion expense 86 120 159 673 611
Allowance for doubtful accounts － － － － －
Compensation for directors 773 470 497 771 738
Salaries 15,242 17,396 18,901 21,165 24,228
Provisions for bonuses 3,740 3,433 4,005 3,368 6,484
Net periodic pension costs 534 692 1,021 1,205 1,002
Welfare expense 2,522 2,642 2,835 3,051 3,396
Rental expense 2,306 2,699 2,919 2,882 2,991
Commission fee 23,539 24,700 28,377 35,900 55,391
Depreciation and amortization 2,495 2,410 2,725 2,903 3,153
Other 8,976 8,610 8,762 9,384 10,314
Total Selling, general and administrative expenses 84,677 94,699 93,515 111,982 136,053

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Operating income 38,176 24,635 32,759 47,226 59,261

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Non-operating income Interest income 107 167 363 76 101
Dividends received 14 0 0 0 0
Foreign exchange gain － 3,459 － 2,727 10,489
Rental income 35 72 36 17 33
Reversal of allowance for doubtful accounts 161 － － － －
Subsidy income 126 － － － －
Gain on forgiveness of payable for group tax 31 37 370 152 －
Outsourcing service income － 125 － － －
Gain on sale of crypto assets － － － － 2,904
Miscellaneous income 281 136 198 70 777
Total non-operating income 757 3,999 969 3,043 14,307

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Non-operating expenses Interest expenses 84 107 135 87 150
Commission fee 10 5 5 19 475
Loss on investments in securities － 40 127 169 －
Loss on liquidation of content － － － － 1,289
Loss on retirement of development related assets － － － － 862
Office transfer related expenses 152 65 － － －
Foreign exchange loss 2,477 － 1,173 － －
Miscellaneous loss 83 0 191 9 86
Total non-operating expenses 2,809 219 1,633 286 2,865

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Ordinary income 36,124 28,415 32,095 49,983 70,704

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Extraordinary gain Gain on sale of property and equipment 9 15 2 1 6
Gain on sale of investment securities 351 0 － － －
Gain on reversal of subscription rights to shares 2 － 7 2 8
Gain on liquidation of subsidiaries 5 － － － －
Subsidy income related to COVID-19 － － － 335 290
Gain on sale of shares of subsidiaries and associates － － － － 353
Other － 8 － － 72
Total extraordinary gain 368 23 9 339 730

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Extraordinary loss Loss on sale of property and equipment 18 － － 18 －
Loss on disposal of property and equipment 131 198 130 316 212
Impairment loss 40 368 367 520 109
Loss on valuation of investment securities － － － 449 351
Loss on valuation of shares of subsidiaries and associates － 680 － 251 239
Loss on sales of shares of subsidiaries and associates 371 － － － －
Loss on liquidation of subsidiaries and associates － － － － －
Provision for game arcade closings － － 117 629 －
Loss on temporary closure － － 141 2,392 296
Loss on evaluation of content － 3,638 － － －
Loss on event cancellations － － 544 47 －
Other 4 422 9 2 1
Total extraordinary loss 565 5,307 1,311 4,628 1,212

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Profit (Loss) before income taxes 35,927 23,131 30,793 45,694 70,223

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Income taxes Income taxes-current 9,216 2,968 10,581 19,430 20,511
Income taxes-deferred 878 784 (1,136) (690) (1,320)
Total income taxes 10,094 3,753 9,444 18,740 19,191

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Profit 25,832 19,378 21,348 26,954 51,031
Profit attributable to non-controlling interests 11 4 1 12 17
Profit (loss) attributable to owners of parent 25,821 19,373 21,346 26,942 51,013

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Assets

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Current assets Cash and deposits 136,785 129,468 123,450 146,229 163,088
Notes and accounts receivable 24,383 40,396 41,474 43,036 44,968
Merchandises and finished goods 3,233 4,484 5,850 3,829 4,687
Work in progress 3 5 206 212 18
Raw materials and supplies 253 330 433 363 485
Content production account 44,167 50,620 71,479 78,153 96,765
Other 7,486 9,770 8,163 11,987 12,711
Allowance for doubtful accounts (212) (265) (161) (190) (268)
Total current assets 216,100 234,811 250,896 283,622 322,455

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Non-current assets Property and equipment
Buildings and structures 15,657 17,179 18,341 18,735 18,793
Accumulated depreciation (9,993) (10,663) (11,603) (12,888) (13,489)
Buildings and structures (net) 5,663 6,515 6,738 5,847 5,303
Tools and fixtures 14,021 14,759 15,943 17,716 19,431
Accumulated depreciation (9,855) (10,065) (11,112) (12,992) (14,730)
Tools and fixtures (net) 4,165 4,693 4,830 4,723 4,701
Amusement equipment 16,910 17,435 17,529 17,275 17,008
Accumulated depreciation (14,588) (14,790) (15,420) (15,459) (15,379)
Amusement equipment (net) 2,322 2,645 2,108 1,816 1,629
Other 177 184 3,425 4,116 4,955
Accumulated depreciation (115) (115) (484) (1,095) (1,314)
Other (net) 62 68 2,940 3,021 3,641
Land 3,795 3,782 3,782 3,782 3,782
Construction in progress 50 183 147 465 757
Total property and equipment 16,060 17,889 20,547 19,656 19,814
Intangible assets
Other 4,559 5,105 5,387 5,540 7,375
Total intangible assets 4,559 5,105 5,387 5,540 7,375
Investments and other assets
Investment securities 154 1,226 2,308 2,537 2,727
Guarantee deposits 9,879 10,373 10,612 9,776 11,028
Net defined benefit asset 155 93 － 477 649
Deferred tax assets 8,902 7,757 8,731 9,630 10,526
Other 3,965 5,418 4,238 4,961 6,384
Allowance for doubtful accounts (63) (61) (88) (57) (57)
Total investments and other assets 22,993 24,809 25,802 27,325 31,257
Total non-current assets 43,612 47,803 51,737 52,522 58,447

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Total assets 259,713 282,614 302,634 336,144 380,902

Liabilities and Net Assets

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Current liabilities Notes and accounts payable 14,848 23,592 25,537 24,559 27,598
Short-term loans 8,931 8,685 － － －
Accrued income taxes 9,162 1,694 10,159 14,593 8,442
Provision for bonuses 3,246 3,273 4,061 2,956 6,539
Provision for sales returns 3,985 9,178 4,253 5,873 －
Refund liabilities － － － － 5,616
Provision for game arcade closings 58 49 43 231 －
Asset retirement obligations － 5 3 6 －
Other 18,610 20,968 25,285 32,122 35,602
Total current liabilities 58,842 67,449 69,344 80,345 83,800

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Non-current liabilities Provision for directors' retirement benefits 88 52 52 52 17
Provision for game arcade closings 41 － 40 － －
Net defined benefit liabilities 2,676 2,893 3,214 3,492 3,842
Deferred tax liabilities 896 1,383 1,062 1,642 874
Asset retirement obligations 2,812 3,132 3,291 3,715 3,842
Other 994 1,257 3,698 3,617 4,094
Total non-current liabilities 7,510 8,719 11,360 12,521 12,672

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Total liabilities 66,353 76,168 80,705 92,866 96,472

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Shareholders' equity Common stock 23,868 24,039 24,039 24,039 24,039
Capital surplus 53,107 53,281 53,388 53,593 53,880
Retained earnings 129,513 143,451 159,222 179,722 221,316
Treasury stock (10,159) (10,162) (9,900) (9,556) (8,964)
Total shareholders' equity 196,330 210,610 226,750 247,799 290,272

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Accumulated other comprehensive income Unrealized loss on revaluation of other investment securities 89 116 (162) 59 (24)
Foreign currency translation adjustments (3,674) (4,651) (5,085) (5,655) (6,844)
Remeasurements of defined benefit plans (132) (285) (318) 160 116
Total accumulated other comprehensive income (3,718) (4,820) (5,567) (5,435) (6,752)

(Millions of yen)

03/2018 03/2019 03/2020 03/2021 03/2022
Subscription rights to shares 603 517 608 762 718
Non-controlling interests 144 139 137 151 191
Total net assets 193,359 206,445 221,928 243,278 284,429
Total liabilities and net assets 259,713 282,614 302,634 336,144 380,902
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