Japanese mobile game developer AltPlus Co. reported deepening losses for its fiscal third quarter as revenue from its core gaming operations contracted sharply.
The Tokyo-based company posted a net loss of ¥338 million ($2.3 million) for the nine months ending June, compared with a ¥320 million loss in the same period last year. Revenue declined 21.8% to ¥2.15 billion ($14.5 million), the company said in a statement Wednesday.
Operating losses widened to ¥357 million from ¥344 million a year earlier, reflecting reduced user spending on the company’s main gaming titles and lower contract development revenue as the firm expanded its original game portfolio.
AltPlus has been struggling to maintain user engagement across its existing titles while investing in new intellectual property. The company acquired rights to develop games based on major domestic franchises and secured exclusive distribution rights for the overseas title “Forgotten Night,” which launched in August.
The mobile game operator also released “Everybody Shogi” on Apple’s gaming platform on August 6, adding to its self-published portfolio. Three self-developed titles are currently in production, according to the company.
Contract development remained volatile, with one project cancelled during the quarter while three new assignments were secured. The company’s technical staffing business showed modest improvement after previous declines, though it continues to face headwinds from project cancellations at major gaming clients.
AltPlus declined to provide full-year guidance, citing uncertainty over contract acquisitions, development progress and market conditions that could significantly impact results. The company’s shares have declined approximately 47% this year through July 30.
