DeNA Co., Ltd.
2432・Prime Market・Information & Communication
Games Business
DeNA's core profit-generating segment. Achieves high profit margins through mobile game app distribution.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue | ¥64,356 million | ¥78,099 million | ↓ |
| Segment Profit | ¥29,656 million | ¥38,577 million | ↓ |
| Segment Profit Margin | 46.1% | 49.4% | ↓ |
| Depreciation and Amortization | ¥822 million | ¥338 million | ↑ |
| Impairment Loss | ¥235 million | ¥233 million | — |
Business Details
A segment offering mobile and PC game-related services both domestically and overseas. Its main services include game app distribution and the social game platform "Mobage." The segment focuses on developing and operating titles in partnership with strong external partners, with an eye toward global market expansion. In FY2026 (ending March 2026), revenue was ¥64,356 million and segment profit was ¥29,656 million; while this remains the core segment driving overall group profit, both revenue and profit declined year on year.
Recent Overview
Revenue declined 17.6% and profit declined 23.1% year on year due to the reversal from the initial surge in Pokémon TCG Pocket.
In FY2026 (ending March 2026), the Games Business recorded revenue of ¥64,356 million (down 17.6% year on year) and segment profit of ¥29,656 million (down 23.1% year on year). The main cause was the reversal from the substantial initial revenue generated by "Pokémon Trading Card Game Pocket," released in October 2024, during the first half of the prior fiscal year. Although reduced commission payments linked to business performance provided some support on the cost side, this was insufficient to offset the revenue decline. The forecast for FY2027 (ending March 2027) is also premised on a business plan that takes into account the initial-launch contribution of the same title in the prior fiscal year.
Key Products
Growth Drivers
- Continued revenue expansion through the development and operation of titles in partnership with strong external partners
- Revenue contribution from the long-term continued operation of "Pokémon Trading Card Game Pocket"
- Flexibility in the cost structure due to fluctuations in commission payments linked to business performance
- Promotion of title expansion with a view toward the global market
- Strengthening the competitiveness of existing businesses and efforts toward new title development through the use of AI
Risks
- Risk of revenue concentration in the flagship title (Pokémon TCG Pocket) and continuation of the post-launch reversal decline
- Profitability decline in existing titles due to intensifying competition in the mobile game market and changes in user preferences
- Risk related to the continuity of partnership relationships with external partners (such as The Pokémon Company) and changes in terms
- Increased costs and business risk (rising development cost trend) in the development and operation of new titles
- Risk of changes in terms and rules by iOS and Android platform operators
- Risk of impairment of goodwill and other assets (an impairment loss of ¥235 million was recorded in the Games Business for the current period)
Live Streaming Business
A profit-improvement segment offering live streaming services both domestically and internationally, which achieved a turnaround to profitability.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue | ¥39,790 million | ¥40,562 million | ↓ |
| Segment Profit (Loss) | ¥3,984 million (profit) | -¥201 million (loss) | ↑ |
| Depreciation and Amortization | ¥1,688 million | ¥1,325 million | ↑ |
| Impairment Loss | ¥63 million | ¥0 million | ↓ |
Business Details
A segment providing live streaming-related services both domestically and internationally. Its main services are the domestic live streaming app "Pococha" and the VTuber-focused live streaming app "IRIAM." In FY2026 (ending March 2026), the shift toward business operations prioritizing profitability improvement was successful, achieving a significant turnaround to profit from the prior period's loss. IRIAM continued to perform steadily.
Recent Overview
A shift toward business operations prioritizing profitability resulted in a significant turnaround to profit from the prior period's loss.
In FY2026 (ending March 2026), revenue was ¥39,790 million (down 1.9% year on year), a slight decline, while segment profit improved significantly to ¥3,984 million from a loss of ¥201 million in the prior period. In Pococha, marketing investment such as TV commercials in the first half was curtailed, and business operations shifted to prioritizing profitability improvement from the second half onward. IRIAM continued to perform steadily, driving the overall improvement in segment profitability.
Key Products
Growth Drivers
- Revenue contribution from the continued steady performance of IRIAM
- Improved cost structure resulting from the shift in Pococha's business operations toward prioritizing profitability
- Continued domestic and international demand in the live streaming market
- Cultivation of the livestreamer support and creator economy business through DeNA Creator Links, established in 2025
Risks
- Trade-off between marketing investment for acquiring and retaining Pococha users and profitability
- Intensifying competition in the live streaming market and maturation of the domestic market
- Foreign exchange risk in international expansion and competition with local competitors
- Risk of continuation of the year-on-year revenue decline trend (down 1.9% year on year in FY2026, ending March 2026)
- Risk of impact on DeNA Creator Links' revenue due to livestreamers ceasing activity or terminating contracts
- Risk of brand image deterioration due to inappropriate streaming content or legal violations by livestreamers
Sports & Smart City Business
A domestic business integrating professional sports operations and stadium management with smart city development.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Full Year, FY2026 ending March 2026) | ¥32,751 million | ¥31,148 million (external customer portion, FY2025 ending March 2025) | ↑ |
| Segment Profit (Full Year, FY2026 ending March 2026) | ¥1,795 million | ¥1,846 million (FY2025 ending March 2025) | ↓ |
| Revenue YoY Change (Full Year, FY2026 ending March 2026) | up 4.5% | - | ↑ |
| Segment Profit YoY Change (Full Year, FY2026 ending March 2026) | down 2.8% | - | ↓ |
| Depreciation and Amortization (Full Year, FY2026 ending March 2026) | ¥2,511 million | ¥2,060 million (FY2025 ending March 2025) | ↑ |
Business Details
A segment integrating professional sports-related services—including the Yokohama DeNA BayStars (professional baseball) and Yokohama Stadium operations, the Kawasaki Brave Thunders (professional basketball), and SC Sagamihara (soccer)—with smart city-related businesses, including "BASEGATE Yokohama Kannai," which had its full grand opening in March 2026. The segment has a multi-layered revenue structure comprising ticket revenue, stadium revenue, merchandise sales, and more, with growth in attendance driving performance. Note that from the current consolidated fiscal year, the smart city business has been integrated into this segment from "New Businesses & Other," and the segment name has been changed accordingly.
Recent Overview
Revenue increased, but a slight profit decline occurred due to upfront costs; segment reorganized through smart city integration.
Full-year revenue for FY2026 (ending March 2026) was ¥32,751 million (up 4.5% year on year), achieving revenue growth. Attendance at Yokohama DeNA BayStars home games in the 2025 season set a new franchise record, driving multi-layered growth in ticket sales, sponsorships, merchandise, and other revenue. On the other hand, in the smart city business, costs incurred ahead of the opening of two directly-operated facilities within "BASEGATE Yokohama Kannai," which had its full grand opening in March 2026, resulted in segment profit of ¥1,795 million (down 2.8% year on year), a slight decline. In addition, from the current period, the smart city business has been integrated into this segment, and the segment name has been changed to "Sports & Smart City Business."
Key Products
Growth Drivers
- Growth in attendance at Yokohama DeNA BayStars games (a new franchise record was set in the 2025 season)
- Stable growth driven by a multi-layered revenue structure comprising ticket sales, merchandise, sponsorships, and more
- New revenue contribution from the full-scale operation of BASEGATE Yokohama Kannai (transition from the upfront cost phase ahead of opening)
- Expansion of the business domain through smart city development, including the Kawasaki Arena City Project
- Development of urban entertainment combining sports promotion and smart city elements
Risks
- Risk of fluctuations in attendance depending on the competitive performance of professional baseball, basketball, and other teams
- Impact of external factors such as weather, infectious diseases, and natural disasters on game hosting and attendance
- Risk of rising construction costs and increased operating costs at new facilities such as BASEGATE Yokohama Kannai
- Risk of changes in contract renewal terms or usage conditions with the owner of Yokohama Stadium (the City of Yokohama)
- Fixed cost burden from player personnel costs and stadium operating costs
- Year-over-year performance volatility depending on postseason qualification
Healthcare & Medical Business
A segment in an investment phase aiming to solve social issues through Health Big Data and medical DX.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Revenue (Full Year) | ¥8,725 million | ¥10,766 million | ↓ |
| Segment Loss (Full Year) | -¥2,329 million | -¥3,619 million | ↑ |
| Depreciation and Amortization (Full Year) | ¥691 million | ¥1,058 million | ↓ |
| Impairment Loss (Full Year) | ¥9,614 million | ¥4,156 million | ↓ |
| Revenue YoY Change | -19.0% | — | ↓ |
Business Details
The Healthcare & Medical Business consists of two pillars: the Healthcare domain, which engages in data utilization (Health Big Data-Related Services) and data-health support, and the Medical domain, which offers medical DX-related services centered on the medical professional communication app "Join." The segment serves domestic and international medical institutions, local governments, and health insurance associations as customers, providing value through the promotion of preventive medicine and digitalization of medical practice. In FY2026 (ending March 2026), losses continued to narrow but the segment remained in deficit.
Recent Overview
Revenue declined 19.0% to ¥8,725 million, but the loss narrowed by ¥1,290 million to ¥2,329 million.
In FY2026 (ending March 2026), the Healthcare & Medical Business recorded revenue of ¥8,725 million (down 19.0% year on year), a decline. On the other hand, segment loss improved by ¥1,290 million from ¥3,619 million in the prior period to ¥2,329 million. In the Healthcare domain, data utilization revenue increased, and the data-health business also performed steadily. In the Medical domain, the company focused on three initiatives—domestic and international expansion of Join and Join Mobile Clinic—while promoting fixed-cost reductions. Regarding Allm Inc., a goodwill impairment loss of ¥9,614 million was recorded due to the loss of expectation for initially projected revenue.
Key Products
Growth Drivers
- Continued revenue growth trend in data utilization services within the Healthcare domain
- Steady performance of data-health services
- Continued increase in the number of domestic facilities using the medical professional communication app "Join"
- Promotion of Join's overseas expansion
- Progress on telemedicine projects utilizing Join Mobile Clinic
- Narrowing of segment losses through fixed-cost reductions (improved by ¥1,290 million year on year)
Risks
- Risk of delayed monetization in the medical DX business, as evidenced by the goodwill impairment at Allm Inc. (¥9,614 million)
- Risk of year-to-year revenue fluctuation due to dependence on the formulation cycle of data-health plans
- Risk of regulatory and institutional changes in the medical DX domain (Pharmaceuticals and Medical Devices Act, Medical Practitioners' Act, Personal Information Protection Act, etc.)
- Time-related risk associated with long sales and adoption cycles for domestic and international medical institutions and local government clients until monetization
- Uncertainty regarding investment recovery due to continued segment losses
- Risk related to information leakage or mishandling of sensitive personal information (such as health checkup data)
New Businesses & Other
A segment in an investment phase aimed at strengthening the medium- to long-term business portfolio.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Full Year, FY2026 ending March 2026) | ¥2,493 million | ¥3,572 million | ↓ |
| Segment Loss (Full Year, FY2026 ending March 2026) | -¥1,550 million | -¥134 million | ↓ |
| Depreciation and Amortization (Full Year, FY2026 ending March 2026) | ¥214 million | ¥198 million | ↑ |
| Revenue as % of Company Total (Full Year, FY2026 ending March 2026) | approx. 1.6% | approx. 2.2% | ↓ |
Business Details
A segment encompassing domestic new businesses and other services. It centers on various initiatives aimed at strengthening the medium- to long-term business portfolio, including the use of AI. Revenue accounts for only about 1.6% of the company total, and the segment remains in an investment phase with continued losses. From FY2026 (ending March 2026), following a change in segment classification, the smart city business previously included here was transferred to the Sports & Smart City Business.
Recent Overview
Revenue declined 30.4% year on year and losses expanded significantly amid a period of upfront investment.
Full-year revenue for FY2026 (ending March 2026) was ¥2,493 million (down 30.4% year on year), and the segment loss expanded significantly to ¥1,550 million (compared with a loss of ¥134 million in the prior period). The main cause of the revenue decline was the transfer of the smart city business due to the change in segment classification. In the AI domain, the company continued active upfront investment, including the establishment of DeNA AI Link, Inc.
Key Products
Growth Drivers
- Promotion of AI utilization across three axes: productivity improvement, strengthening of existing businesses, and creation of new businesses
- Cultivation and creation of new businesses aimed at strengthening the medium- to long-term business portfolio
- Development of AI consulting and solutions business through DeNA AI Link, Inc.
- Establishment of a new revenue source through the launch of an organization for developing AI apps for general consumers
Risks
- Risk of continued losses if the investment phase is prolonged
- Shrinking revenue base following the change in segment classification (down 30.4% year on year for full-year FY2026, ending March 2026)
- Uncertainty regarding the timing and scale of monetization of new businesses
- Risk of intensifying competition in new technology areas such as AI
- Risk of impact on new businesses due to malfunctions, service suspensions, or specification changes in relied-upon external services such as LLMs
Last updated: July 17, 2026