Japanese game developer AltPlus reported a deeper annual loss as its restructuring efforts fell short of reversing its declining fortunes, with investment writedowns adding to its woes.
The Tokyo-based company posted a net loss of 452 million yen ($3 million) for the year ended September, wider than the 420 million yen loss a year earlier. Revenue dropped 20% to 3.52 billion yen after the company terminated several game titles as part of its reorganization.
AltPlus’s gaming portfolio shrunk to just one self-published title by year-end, down from three at the start of the period. While the company secured five new development contracts, including porting “Hypnosis Mic” to home consoles and creating 3D avatars for a Tokyo municipal project, these smaller deals failed to offset the revenue decline.
The company withheld its forecast for fiscal 2025, citing significant changes in the gaming industry and ongoing structural reforms. A legal dispute with XPEC Entertainment resulted in 17 million yen in litigation expenses, while a 31 million yen writedown on investment securities further pressured earnings.
Operating losses narrowed to 452 million yen from 539 million yen, helped by reduced platform fees and outsourcing costs.
