Edia Inc. announced its consolidated financial results for the first quarter ending May 2024, revealing a nuanced performance. While the company’s online lottery services and e-book sales showed robust growth, overall sales dipped slightly by 0.4% year-on-year to 859 million yen, primarily due to a reduction in contracted project sales.
In contrast, Edia Inc. experienced a notable improvement in profit margins, driven by a favorable shift in its sales composition. This led to a significant increase in profitability across various metrics. Operating profit surged by 27.5% to 57 million yen, ordinary profit rose by 29.4% to 57 million yen, and net profit climbed by 15.9% to 51 million yen.
The company’s IP business faced a decline in game service sales despite efforts to boost engagement through events. However, this was counterbalanced by strong sales from reprints of retro game titles and licensing agreements in the European and US markets. The online lottery services “Kujikore” and “Marukuji” continued to thrive, driven by numerous collaborations with popular intellectual properties.
Edia’s publishing business saw a substantial increase in both print and e-book sales, thanks to a rise in new comic and light novel releases and reprints of existing titles, aligning with the company’s targets.
Despite these mixed quarterly results, Edia Inc. maintained its full-year financial forecast, anticipating a 6.8% increase in sales to 3.5 billion yen and a 16.9% rise in operating profit to 180 million yen. The company projects ordinary profit to grow by 21.2% to 177 million yen, with net profit expected to increase by 17.5% to 177 million yen by the fiscal year-end in February 2025.
