MOBCAST HOLDINGS INC.
3664・Growth Market・Information & Communication
Digital IP Business
Transitioning to outsourced development and in-house IP cultivation after discontinuation of "Oshiuma Derby Blood"
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (cumulative Q1 FY2026 (ending December 2026)) | ¥5 million | ¥2 million (cumulative Q1 FY2025 (ending December 2025)) | ↑ |
| Segment operating loss (cumulative Q1 FY2026 (ending December 2026)) | -¥0 million (-¥444 thousand) | -¥16 million (cumulative Q1 FY2025 (ending December 2025)) | ↑ |
Business Details
A digital IP business operated by NINJIN Co., Ltd. Following the absorption merger of Cloud Horse Farm Co., Ltd., the company had operated the horse racing fan gaming SNS "Oshiuma Derby Blood," which was discontinued at the end of the first quarter of 2026. Going forward, the segment is in a restructuring phase, aiming to secure stable revenue through in-house IP cultivation via the YouTube channel "Yossy no Oshiuma Channel" and by taking on individual outsourced development projects leveraging accumulated game development know-how.
Recent Overview
"Oshiuma Derby Blood" discontinued; loss significantly narrowed on outsourced development orders
The horse racing gaming SNS "Oshiuma Derby Blood" service was discontinued at the end of Q1 2026. Meanwhile, individual development orders were secured, expanding revenue to ¥5 million (approximately 2.8 times the same quarter of the prior year). Segment operating loss narrowed significantly to ¥444 thousand from ¥16 million in the same quarter of the prior year. Going forward, the policy is to secure stable revenue through the two pillars of outsourced development and in-house IP cultivation via YouTube.
Key Products
Growth Drivers
- Expansion of individual outsourced development orders leveraging game development know-how accumulated through the development and operation of "Oshiuma Derby Blood"
- In-house IP cultivation and monetization through continued operation of the YouTube channel "Yossy no Oshiuma Channel"
- Profitability improvement through reduced development and operating costs following service discontinuation
Risks
- The scale of alternative revenue sources (outsourced development and in-house IP) launched following the discontinuation of "Oshiuma Derby Blood" remains extremely small, leaving the revenue base fragile
- Outsourced development projects are unstable in terms of continuity and scale, making stable revenue recognition difficult
- The group as a whole has recorded operating losses for 11 consecutive fiscal periods since FY2015 (ending December 2015), and there is material uncertainty regarding the going concern assumption
- Risk of intensifying competition and rising development costs in the digital game and content market
Last updated: March 25, 2026