CRUISE Corp., the Tokyo-listed technology company, reported a net loss of ¥530 million (US$3.4 million) for the fiscal year ended March 2025, reversing from a profit of ¥1.08 billion two years earlier as its GameFi business significantly underperformed expectations.
Revenue for the period dipped slightly to ¥14.19 billion (US$91.3 million), down 0.6% from two fiscal years ago, the company announced on May 14. The GameFi segment, which develops blockchain-based games with financial incentives, saw sales plummet 46% to ¥1.72 billion, resulting in a segment loss of ¥872 million compared to a ¥56 million profit previously.
The company cited lower-than-anticipated game title sales and substantial development costs for new titles as key factors behind the disappointing performance. The slump in GameFi comes amid broader growth in the global blockchain gaming market, which recently hit one million daily active users in the first quarter of 2025.
In contrast, CRUISE’s IT outsourcing business showed strong momentum, with revenue surging 62.4% to ¥4.96 billion and delivering a segment profit of ¥118 million, recovering from a ¥112 million loss previously. The company’s EC (e-commerce) segment remained relatively stable with a modest 0.8% revenue decline but saw profits tumble 79% to ¥44 million.
CRUISE has withheld its earnings forecast for fiscal 2026, citing significant changes in its business environment and ongoing investments in new high-potential business areas that make reasonable projections difficult.
