Japanese mobile game operator Mynet Inc. lowered its fiscal 2024 revenue forecast by 7.9% to ¥8.85 billion ($59.3 million) after shelving several secondary gaming projects that failed to meet investment criteria.
Despite the revenue shortfall, the Tokyo-based company raised its operating profit outlook by 19% to ¥428 million, citing strong performance from existing secondary gaming titles and continued cost optimization efforts across operations.
The gaming software developer took a ¥118 million special loss charge, including ¥59 million in investment securities write-downs due to reassessment of business alliance partnerships amid industry headwinds. Another ¥59 million came from impairment and disposal losses as Mynet realigned its development pipeline to focus on higher-growth projects.
As a result, Mynet reduced its net income projection by 15.3% to ¥245 million while lifting its ordinary profit forecast by 12% to ¥375 million for the year ending December 2024.
The revised guidance reflects Mynet’s more selective approach to new game development and partnerships as mobile gaming competition intensifies in Japan. While existing titles continue delivering solid results, the company faces pressure to identify new growth drivers as it navigates a challenging market environment.
