Enish Inc. reported a first-quarter loss as revenue from its mobile games fell and its blockchain gaming initiative struggled to gain traction.
The Tokyo-based mobile game developer posted a net loss of ¥158 million ($1.05 million) for the January-March period, narrower than the ¥196 million ($1.31 million) loss a year earlier. Revenue dropped 17.6% to ¥674 million ($4.49 million), the company said Wednesday.
Enish cited the underperformance of “De:Lithe Last Memories,” a blockchain game launched last August, and the absence of contract development projects as key factors behind the revenue decline. Cost-cutting measures were insufficient to offset these challenges.
The company continues to rely on aging titles for revenue, with 14-year-old games “Boku no Restaurant 2” and “Garsho” still making significant contributions through collaborative promotions. Its “Attack on Titan” and “Quintessential Quintuplets” titles are also performing steadily.
To revitalize growth, Enish plans to release a new mahjong game titled “Jyan Evo Live” this summer and is developing additional titles leveraging its Web3 expertise. The company aims to launch one to two new games annually.
Enish withheld financial forecasts for the fiscal year ending December 2026, citing volatility in the mobile gaming market.
