Amazia,inc.

Business Details

Plans and operates the freemium manga apps "Manga Bang!" and "Manga Bang Books," produces the original manga label "Manga Bang Comics" (including WEBTOON), operates the overseas-facing app "MANGA BANG!," and operates the cross-border e-commerce site "Fandom Tokyo." The revenue model rests on three pillars: paid content, advertising, and comics sales. Following the launch of cross-border e-commerce in February 2025, the segment name was changed from "Manga App Business" to "Entertainment Business." This core segment accounts for approximately 97% of consolidated group sales.

Recent Overview

Cross-border e-commerce site "Fandom Tokyo" expanded rapidly to exceed ¥220 million in interim-period sales, and segment profit/loss turned positive

In the interim period of FY2026 (ending September 2026) (October 2025 to March 2026), the Entertainment Business segment posted sales of ¥1,493 million (up 6.8% year on year) and segment profit of ¥72 million (versus a segment loss of ¥39 million in the same interim period of the prior year), a significant improvement in profit/loss. The main driver was the cross-border e-commerce site "Fandom Tokyo," which achieved sales exceeding ¥220 million in the interim period. Meanwhile, Manga Bang!'s MAU declined due to reduced advertising expenditure, leading to a decrease in paid-content revenue. Manga Bang Comics remained strong, with increased sales of existing volumes among other factors.

Key Products

Growth Drivers

• Rapid expansion of the cross-border e-commerce site "Fandom Tokyo": achieved sales exceeding ¥220 million in the interim period of FY2026 (ending September 2026), increasingly establishing itself as a new revenue pillar
• Strong sales of Manga Bang Comics: continued production investment in original works (including WEBTOON) has also increased sales of existing volumes
• Improvement in advertising ARPU: advertising revenue per unit improved due to an increase in ad inventory and the implementation of anniversary events and campaign measures
• Improved cost structure through reduced advertising expenditure: efficient advertising focused on cost-effectiveness led to a turnaround to segment profit
• Promotion of revenue diversification through IP development of original works (anime, drama, merchandising, etc.)
• Policy of full-scale introduction of off-app payments to reduce payment processing fees

Risks

• Downward trend in active users (MAU) due to intensifying competition in the e-book market: MAU has declined due to reduced advertising expenditure, leading to lower paid-content revenue
• Trade-off between reduced advertising expenditure and MAU retention: a structural issue where cost cutting invites user attrition
• Risk of declining advertising revenue per unit due to continued softness in the advertising market
• Dependence on Apple Inc. and Google Inc. for sales (the two companies together account for approximately 63% of sales): risk from platform fees and changes to terms of service
• Burden of upfront investment in original content production: risk of failing to recover investment if works do not become major hits or achieve media mix expansion
• Increasing inventory, logistics, and foreign exchange risk associated with the expansion of the cross-border e-commerce business