MIXI, Inc. (TSE: 2121), the Tokyo-based internet and gaming conglomerate best known for the long-running mobile hit Monster Strike, reported FY2026 (April 1, 2025 – March 31, 2026) consolidated results under Japanese GAAP. Group revenue climbed 10.7% year-on-year to ¥171,369 million (¥171.4 billion), continuing a top-line expansion driven partly by the Sports and Lifestyle businesses and the consolidation of PointsBet Holdings Limited and four other newly added subsidiaries. However, higher operating expenses compressed margins significantly: EBITDA eased 1.6% to ¥31,176 million, while operating profit dropped 16.3% to ¥22,256 million and ordinary profit fell 6.8% to ¥24,700 million. Net profit attributable to owners of the parent declined 1.9% to ¥17,270 million, with EPS of ¥260.72 (prior year: ¥255.43 basic / ¥257.98 diluted).
Return on equity was 9.6% (prior year: 10.0%), ordinary profit return on total assets was 9.8%, and the operating profit margin contracted to 13.0% from 17.2% a year earlier — a meaningful compression reflecting both the maturing revenue profile of the flagship Digital Entertainment segment and the group's ongoing investment in new growth areas. Comprehensive income declined 6.9% to ¥19,018 million.
Digital Entertainment under pressure; Sports and Lifestyle add scale
The standalone (parent-company) results provide a window into the core Digital Entertainment business: parent revenue fell 3.5% to ¥113,925 million and parent operating profit declined 13.3% to ¥22,787 million, confirming that Monster Strike and related titles are facing natural maturation headwinds. The consolidated group's revenue growth of 10.7% therefore reflects the Sports segment — which houses the online sports-betting and sporting-event platform businesses including PointsBet — and the Lifestyle segment contributing incremental revenue that the Digital Entertainment segment alone could not generate. The five newly consolidated entities (PointsBet Holdings Limited and four others) added revenue but also incremental cost structures, contributing to the operating profit squeeze.
Balance sheet strengthens; cash at ¥111.2 billion
Total consolidated assets expanded significantly to ¥280,405 million from ¥225,544 million a year earlier — an increase of approximately ¥54.9 billion — reflecting acquisitions and organic growth. Net assets stood at ¥189,466 million with equity capital of ¥181,333 million, yielding an equity ratio of 64.7% (prior year: 79.4%; the decline is attributable to the acquisition-driven asset base expansion). Book value per share rose to ¥2,787.63 from ¥2,641.26. Operating cash flow was ¥19,287 million, investing outflows were ¥31,552 million (reflecting M&A activity), financing outflows were ¥14,161 million (mainly dividend payments and share buybacks), and cash and cash equivalents at year-end stood at ¥111,190 million.
Dividend held at ¥120; FY2027 guidance disappoints
MIXI declared a year-end dividend of ¥60.00 per share, matching the interim dividend of ¥60.00, for a full-year payout of ¥120.00 — unchanged from the prior year's ¥120.00 (¥55.00 interim + ¥65.00 year-end). The consolidated payout ratio was 46.0% and the dividend-on-equity (DOE) ratio was approximately 4.5%. For FY2027 the company guides an annual dividend of ¥125.00 per share (¥60.00 interim + ¥65.00 year-end), with a stated target of DOE approximately 5%. The company cancelled 6,224,404 treasury shares in the period, reducing shares outstanding; at the fiscal year-end there were 73,730,850 shares issued (including treasury) and 5,967,604 treasury shares, giving a weighted-average share count of 68,910,259 for EPS calculation purposes.
For FY2027 (April 1, 2026 – March 31, 2027), MIXI guides: revenue of ¥185,000 million (+8.0%), EBITDA of ¥31,500 million (+1.0%), operating profit of ¥19,500 million (−12.4%), ordinary profit of ¥20,000 million (−19.0%), and net profit of ¥13,500 million (−21.8%), equivalent to EPS of ¥207.35. The guidance implies continued top-line growth from Sports/Lifestyle, but a further contraction in operating profit margin — likely reflecting elevated investment in the PointsBet integration, marketing spend, and platform development — with net profit dragged further down by a lower ordinary-to-net conversion rate. Notable scope changes during FY2026 included the consolidation of five new entities (PointsBet Holdings Limited and four others); no significant deconsolidations were recorded.
| Metric | FY2026 | FY2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 171,369 | 154,847 | +10.7% |
| EBITDA (¥ million) | 31,176 | 31,694 | −1.6% |
| Operating profit (¥ million) | 22,256 | 26,600 | −16.3% |
| Ordinary profit (¥ million) | 24,700 | 26,511 | −6.8% |
| Net profit — owners (¥ million) | 17,270 | 17,601 | −1.9% |
| EPS (¥) | 260.72 | 255.43 | +2.1% |
| Operating profit margin | 13.0% | 17.2% | −4.2pp |
| Total assets (¥ million) | 280,405 | 225,544 | +24.3% |
| Equity ratio | 64.7% | 79.4% | −14.7pp |
| Annual dividend (¥) | 120.00 | 120.00 | — |
| FY2027 guidance — revenue (¥ million) | 185,000 | — | +8.0% |
| FY2027 guidance — net profit (¥ million) | 13,500 | — | −21.8% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.