Mobcast Holdings reported smaller losses in the first nine months of 2024 as the Japanese gaming company moved away from licensed intellectual property to focus on developing original content.
The Tokyo-based firm posted a net loss of ¥36 million ($240,000) for January-September period, compared with a ¥194 million loss a year earlier. Revenue fell 10% to ¥2.33 billion, according to a company statement.
The gaming developer sold off its licensed IP business, which previously created mobile games based on popular anime titles. Management cited rising development costs and fierce competition for acquiring popular franchises as key factors behind the strategic shift.
As part of its restructuring, Mobcast merged with horse-racing social network developer Cloud Horse Farm in May, rebranding it as NINJIN. The digital IP unit recorded an operating loss of ¥32 million on sales of ¥9 million in the third quarter.
The company declined to provide full-year guidance, noting uncertainty around the timing of asset sales in its IP investment business and challenges in forecasting results from its new original content strategy.
