GungHo Online Entertainment Inc. reported its full-year (FY) results for the period ended December 31, 2025. Net sales reached JPY 93.24 billion, reflecting a 10.0% decrease. Operating profit was JPY 5.06 billion, down 71.1%. Ordinary profit totaled JPY 6.78 billion, representing a 66.1% decline, while profit attributable to owners of parent stood at JPY 1.41 billion, an 87.4% decrease. Profit per share for the period was JPY 25.79, down 85.9%. The company cited fewer collaboration events with well-known characters from other companies as a factor behind the decrease in net sales. Titles related to "Ragnarok" in Japan performed steadily due to continuous events and updates, with "Ragnarok X" marking its first anniversary in November 2025 and "Ragnarok Online" its 23rd anniversary in December 2025. Subsidiary Gravity Co., Ltd. contributed to growth with new "Ragnarok" titles released mainly in Southeast Asia, Taiwan, Hong Kong, and Macau, and achieved a year-on-year increase in full-year net sales, supported by titles such as "Ragnarok M: Classic" and "Ragnarok: Twilight." Consolidated selling, general, and administrative expenses rose, particularly due to increased personnel costs following the full acquisition of Alim Co., Ltd. at the end of 2024. GungHo Online Entertainment Inc. continued efforts to broaden its "Puzzle & Dragons" user base through initiatives beyond in-game events, including anime and offline events. However, the reduced number of collaboration events impacted full-year net sales. The company maintained its focus on game development with a global distribution strategy and worked to strengthen its existing brands and maximize the value of its games.
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