Japanese mobile game developer COLOPL Inc. reported its first annual loss since going public as revenue from its entertainment division declined and new game releases faced delays.
The Tokyo-based company posted a net loss of ¥1.8 billion ($12 million) for the fiscal year ended September 2024, with operating revenue falling to ¥25.9 billion. The gaming division, which accounts for about 94% of sales, saw revenue drop to ¥24.4 billion due to aging titles and postponed launches.
COLOPL is betting on blockchain gaming and overseas expansion to revive growth. Its crypto game “Brilliantcrypto” has processed over 150,000 digital gem trades since launch, though development costs weighed on profits. The game’s BRIL token now trades in 66 countries after listing on exchange Bit2Me.
The company plans to release four smartphone games and nine console titles, including “STEINS;GATE RE:BOOT” slated for 2025. It’s also developing new features for “Brilliantcrypto” like a “Jewelry Workshop” for NFT creation.
Despite the weak performance, COLOPL maintained its annual dividend at ¥20 per share. The company appointed new executives and increased outside directors to strengthen governance as it pursues its global ambitions.
