3765
GungHo Online Entertainment, Inc.
ガンホー・オンライン・エンターテイメント株式会社
Information & Communication
GungHo Online Entertainment, Inc. engages in the planning, development, operation, and distribution of smartphone applications and computer games in Japan, Asia, Taiwan, Thailand, the Republic of Indonesia, North America, Central and South America, and internationally. It is also involved in the planning, development, and sale of console games. The company was formerly known as ONSale Co., Ltd. and changed its name to GungHo Online Entertainment, Inc. in August 2002. GungHo Online Entertainment, Inc. was incorporated in 1998 and is based in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
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FY 2022
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FY 2021
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Net Sales
¥93.2B
¥103.6B
¥125.3B
¥105.5B
¥104.6B
Cost of Sales
¥50.9B
¥50.2B
¥68.3B
¥47.1B
¥43.6B
Gross Profit
¥42.3B
¥53.4B
¥57.0B
¥58.4B
¥61.1B
SG&A
¥37.3B
¥35.9B
¥29.1B
¥30.8B
¥28.3B
Operating Income
¥5.1B
¥17.5B
¥27.9B
¥27.6B
¥32.8B
Non-Operating Income
¥1.9B
¥2.6B
¥1.5B
¥1.4B
¥864M
Interest Income
¥1.8B
¥2.0B
¥1.2B
¥458M
¥135M
Non-Operating Expenses
¥217M
¥30M
¥27M
¥24M
¥37M
Interest Expense
¥29M
¥15M
¥21M
¥16M
¥14M
Ordinary Income
¥6.8B
¥20.0B
¥29.3B
¥29.0B
¥33.6B
Pre-tax Income
¥6.6B
¥19.8B
¥29.7B
¥28.9B
¥36.7B
Income Taxes
¥2.3B
¥4.8B
¥7.6B
¥6.6B
¥11.3B
Current Tax
¥2.7B
¥6.4B
¥7.8B
¥8.9B
¥10.9B
Deferred Tax
¥-403M
¥-1.5B
¥-208M
¥-2.3B
¥325M
Net Income (owners)
¥1.4B
¥11.2B
¥16.4B
¥19.0B
¥22.9B
Minority Interest
¥2.9B
¥3.8B
¥5.7B
¥3.3B
¥2.6B
Comprehensive Income
¥6.0B
¥15.5B
¥23.6B
¥24.0B
¥25.8B
EBITDA
¥6.1B
¥18.4B
¥28.7B
¥28.4B
¥33.5B
EPS
¥25.79
¥182.67
¥272.65
¥305.61
¥341.44
Shares Outstanding
54.3M
55.8M
59.9M
61.9M
63.8M
Shares Issued (total)
69.2M
83.2M
87.3M
91.2M
91.2M
Treasury Shares
14.8M
27.3M
27.4M
29.3M
27.4M
Metric
FY 2025
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FY 2024
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FY 2023
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FY 2022
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FY 2021
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Total Assets
¥169.5B
¥175.5B
¥168.0B
¥152.2B
¥134.9B
Current Assets
¥153.8B
¥120.9B
¥156.0B
¥141.8B
¥127.5B
Cash & Deposits
¥130.5B
¥99.6B
¥136.2B
¥126.0B
¥115.0B
Trade Receivables
¥10.1B
¥13.5B
¥13.4B
¥13.0B
¥9.6B
Inventories
¥47M
¥16M
¥23M
¥13M
¥6M
Non-Current Assets
¥15.7B
¥54.6B
¥12.1B
¥10.4B
¥7.4B
PP&E
¥1.4B
¥1.3B
¥1.2B
¥992M
¥1.2B
Intangible Assets
¥568M
¥748M
¥502M
¥420M
¥390M
Investment Securities
—
—
¥0M
¥138M
¥62M
Deferred Tax Assets
¥7.5B
¥7.1B
¥5.6B
¥5.4B
¥2.6B
Total Liabilities
¥18.1B
¥21.9B
¥18.6B
¥19.4B
¥16.3B
Current Liabilities
¥15.4B
¥19.5B
¥17.5B
¥17.9B
¥14.9B
ST Debt
—
—
—
¥181M
¥193M
Taxes Payable
¥592M
¥3.0B
¥2.9B
¥2.7B
¥5.5B
Non-Current Liabilities
¥2.8B
¥2.5B
¥1.1B
¥1.4B
¥1.4B
Total LT Borrowings
—
—
—
¥308M
¥315M
Pension Obligations
¥30M
¥17M
¥10M
¥5M
¥3M
Total Equity
¥151.3B
¥153.5B
¥149.5B
¥132.8B
¥118.7B
Capital Stock
¥5.3B
¥5.3B
¥5.3B
¥5.3B
¥5.3B
Capital Surplus
¥5.5B
¥5.5B
¥5.5B
¥5.5B
¥5.5B
Retained Earnings
¥152.2B
¥195.7B
¥198.4B
¥195.8B
¥181.7B
Treasury Stock
¥-43.9B
¥-80.9B
¥-83.2B
¥-90.2B
¥-85.2B
AOCI
¥2.7B
¥1.7B
¥1.4B
¥752M
¥31M
Equity (owners)
¥119.2B
¥125.6B
¥126.1B
¥116.5B
¥107.3B
Minority Interests
¥28.3B
¥24.8B
¥20.7B
¥14.5B
¥10.3B
Total Interest-Bearing Debt ⓘ
—
—
—
¥489M
¥508M
Net Cash ⓘ
¥130.5B
¥99.6B
¥136.2B
¥125.5B
¥114.5B
NCAV ⓘ
¥135.6B
¥98.9B
¥137.4B
¥122.4B
¥111.3B
NCAV/Share
¥2,495
¥1,773
¥2,294
¥1,978
¥1,743
BV/Share
¥2,193
¥2,251
¥2,105
¥1,882
¥1,681
Metric
FY 2025
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FY 2024
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FY 2023
EDINET ↗
FY 2022
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FY 2021
EDINET ↗
Operating CF
¥-355M
¥17.1B
¥20.5B
¥18.7B
¥23.7B
Interest Paid
¥-29M
¥-15M
¥-21M
¥-16M
¥-14M
Interest Received
¥1.9B
¥1.7B
¥1.1B
¥322M
¥99M
D&A
¥1.0B
¥951M
¥825M
¥774M
¥671M
Investing CF
¥-28.7B
¥-47.6B
¥-14.6B
¥-2.8B
¥-5.4B
Purchase Investments
¥-63M
—
—
¥-65M
¥-1M
Financing CF
¥-8.8B
¥-12.2B
¥-7.0B
¥-9.3B
¥-12.4B
Dividends Paid
¥-3.4B
¥-1.8B
¥-1.9B
¥-3.8B
¥-2.0B
LT Debt Repaid
—
—
¥-219M
¥-228M
¥-206M
Free Cash Flow
¥-355M
¥17.1B
¥20.5B
¥18.7B
¥23.7B
Net Change in Cash
¥-37.1B
¥-41.5B
¥-27M
¥7.6B
¥6.1B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
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ROE
1.1%
8.8%
13.4%
16.9%
22.4%
ROA
0.8%
6.5%
10.3%
13.2%
17.0%
EPS
¥25.79
¥182.67
¥272.65
¥305.61
¥341.44
DPS
¥90.00
¥60.00
¥30.00
¥30.00
¥60.00
BPS
¥2,242.37
¥2,280.75
¥2,127.98
¥1,894.36
¥1,681.71
FCF/Share
¥-7
¥307
¥342
¥301
¥371
NCAV/Share
¥2,495
¥1,773
¥2,294
¥1,978
¥1,743
Payout Ratio
349.0%
32.8%
11.0%
9.8%
17.6%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 16
Date Activist Stake Event Flag Demands Source
2026-02-16
Strategic Capital, Inc.
9.65%
+0.11%
change
✓ Activist
—
2026-02-12
SON Financial Inc.
17.36%
change
Passive
—
2026-02-06
Strategic Capital, Inc.
9.54%
+0.38%
change
✓ Activist
—
2026-01-20
Strategic Capital, Inc.
9.16%
+0.65%
change
✓ Activist
—
2025-12-05
SON Financial Inc.
17.36%
change
Passive
—
2025-08-07
Strategic Capital, Inc.
8.51%
+1.01%
change
✓ Activist
—
2025-07-04
SON Financial Inc.
17.36%
+2.92%
change
Passive
—
2025-05-12
Strategic Capital, Inc.
7.5%
change
✓ Activist
—
2025-05-08
Strategic Capital, Inc.
7.5%
+1.18%
change
✓ Activist
—
2025-04-16
Strategic Capital, Inc.
6.32%
+0.85%
change
✓ Activist
—
2025-04-04
SON Financial Inc.
14.44%
-2.51%
change
Passive
—
2024-11-01
SON Financial Inc.
16.95%
-1.3%
change
Passive
—
2024-10-16
Strategic Capital, Inc.
5.47%
initial_5pct
✓ Activist
—
2023-12-08
SON Financial Inc.
18.25%
-0.6%
change
Passive
—
2023-10-18
AllianceBernstein L.P.
4.0%
change
Passive
—
2023-08-18
SON Financial Inc.
18.85%
change
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
SON Financial
SON Financial合同会社
10,006,500
18.41%
2
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
7,146,400
13.15%
3
INTERTRUST TRUSTEES(CAYMAN)LIMITED SOLEL Y IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP(常任代理人 株式会社みずほ銀行決済営業部)
4,157,800
7.65%
4
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 株式会社みずほ銀行決済営業部)
2,205,552
4.05%
5
株式会社エフエーエイチ
2,000,000
3.68%
6
STATE STREET BANK AND TRUST COMPANY
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部)
1,813,788
3.33%
7
INTERTRUST TRUSTEES CAYMAN LIMITED AS TRUSTEE OF JAPAN-UP UNIT TRUST(常任代理人 立花証券株式会社)
1,800,000
3.31%
8
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
1,668,200
3.06%
9
THE BANK OF NEW YORK MELLON
THE BANK OF NEW YORK MELLON 140044(常任代理人 株式会社みずほ銀行決済営業部)
1,174,178
2.16%
10
森下 一喜
1,159,600
2.13%
Domestic Nominees
16.2%
-1.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
9.5%
-0.5% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
35.2%
+4.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
SON Financial
SON Financial合同会社
17.70%
16.71%
18.41%
+1.70%
Japan Master Trust Bank
日本マスタートラスト信託銀行
12.96%
13.63%
13.15%
-0.48%
INTERTRUST TRUSTEES(CAYMAN)LIMITED SOLEL Y IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP
NEW ENTRY
—
—
—
7.65%
NEW
State Street
2.33%
7.84%
7.38%
-0.46%
式会社エフエーエイチ
NEW ENTRY
—
—
—
3.68%
NEW
INTERTRUST TRUSTEES CAYMAN LIMITED AS TRUSTEE OF JAPAN-UP UNIT TRUST
NEW ENTRY
—
—
—
3.31%
NEW
Japan Custody Bank
日本カストディ銀行
4.99%
4.22%
3.06%
-1.16%
BNY Mellon
4.37%
2.16%
2.16%
森下 一喜
1.68%
1.80%
2.13%
+0.33%
INTERTRUST TRUSTEES(CAYMAN)LIMITED SOLEL Y IN ITS CAPACITY AS TRUSTEE OF JPAPN-UP
last seen 2024
Exited Top 10
—
5.46%
—
SON Capital Partners
SON Capital Partners合同会社
last seen 2024
Exited Top 10
4.72%
4.26%
—
INTERTRUST TRUSTEES CAYMAN LIMITED AS TRUSTEE OF JPAPN-UP UNIT TRUST
last seen 2024
Exited Top 10
—
2.14%
—
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
last seen 2023
Exited Top 10
1.52%
—
—
Concentration (HHI)
ⓘ
558
605
668
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved