AltPlus has reported a 17.3% decline in revenue for the third quarter ending June 2024, citing decreased sales from its streamlined gaming titles. Despite securing one new development project, the company’s revenue dropped to 2.704 billion yen (US$19.1 million). AltPlus also reported an operating loss of 353 million yen (US$2.5 million), an ordinary loss of 314 million yen (US$2.2 million), and a net loss of 320 million yen (US$2.3 million).
In response to these challenges, AltPlus is broadening its gaming business to include more development and management contracts. While one management and one development contract were completed in the third quarter, the scale of these projects was insufficient to offset the revenue decrease from its existing titles.
To address its financial setbacks, AltPlus has entered a strategic alliance with GF Holdings to explore new gaming-related business opportunities. A significant move includes partnering with Trinity Knot to launch the actor chat novel app “KISSMILLe,” targeting the burgeoning “oshikatsu” market. The app serves as a platform for creating and distributing “actor chat novels” and aims to expand into stage plays and other entertainment content.
Additionally, the game support business faced a decline due to project cancellations and restructuring efforts. AltPlus plans to bolster its sales initiatives in the gaming industry while seeking new clients outside this sector.
The company has not disclosed its earnings forecast for the fiscal year ending September 2024, citing the unpredictable nature of its revenue streams and new business ventures.
