Gala Incorporated, together with its subsidiaries, develops and operates smartphone applications in Japan and South Korea. The company also develops and operates online games and HTML5 games, as well as smartphone and tablet PC applications. In addition, it is involved in the cloud-related, blockchain-related, visual effects (VFX), and metaverse businesses; and operation of the Treehouse resort located in the forest of Yanbaru in Nago City. Gala Incorporated was incorporated in 1993 and is headquartered in Shibuya, Japan.
Read more
Financials
Ownership
Material Events
Income Statement
Balance Sheet
Cash Flow
Ratios & Growth
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Net Sales
ยฅ2.6B
ยฅ2.4B
ยฅ1.5B
ยฅ3.2B
ยฅ601M
ยฅ985M
Cost of Sales
ยฅ1.1B
ยฅ942M
ยฅ540M
ยฅ1.1B
ยฅ129M
ยฅ167M
Gross Profit
ยฅ1.5B
ยฅ1.4B
ยฅ958M
ยฅ2.1B
ยฅ472M
ยฅ818M
SG&A
ยฅ1.8B
ยฅ1.9B
ยฅ1.3B
ยฅ1.7B
ยฅ770M
ยฅ792M
Operating Income
ยฅ-222M
ยฅ-448M
ยฅ-296M
ยฅ438M
ยฅ-298M
ยฅ26M
Non-Operating Income
ยฅ55M
ยฅ111M
ยฅ39M
ยฅ29M
ยฅ78M
ยฅ67M
Interest Income
ยฅ22M
ยฅ38M
ยฅ14M
ยฅ5M
ยฅ0M
ยฅ0M
Non-Operating Expenses
ยฅ86M
ยฅ22M
ยฅ5M
ยฅ67M
ยฅ1M
โ
Interest Expense
ยฅ38M
ยฅ19M
ยฅ5M
ยฅ0M
ยฅ0M
โ
Ordinary Income
ยฅ-253M
ยฅ-358M
ยฅ-262M
ยฅ401M
ยฅ-220M
ยฅ93M
Pre-tax Income
ยฅ-780M
ยฅ-845M
ยฅ-265M
ยฅ260M
ยฅ-219M
ยฅ-124M
Income Taxes
ยฅ42M
ยฅ-111M
ยฅ6M
ยฅ-265M
ยฅ12M
ยฅ5M
Current Tax
ยฅ16M
ยฅ7M
ยฅ4M
ยฅ10M
ยฅ12M
ยฅ5M
Deferred Tax
ยฅ26M
ยฅ-117M
ยฅ2M
ยฅ-275M
โ
โ
Net Income (owners)
ยฅ-532M
ยฅ-908M
ยฅ-230M
ยฅ320M
ยฅ-186M
ยฅ-131M
Minority Interest
ยฅ-290M
ยฅ173M
ยฅ-41M
ยฅ205M
ยฅ-45M
ยฅ2M
Comprehensive Income
ยฅ-810M
ยฅ-750M
ยฅ-250M
ยฅ511M
ยฅ-261M
ยฅ-139M
EBITDA
ยฅ-81M
ยฅ-286M
ยฅ-236M
ยฅ546M
ยฅ-269M
ยฅ149M
Goodwill Amort. (J-GAAP)
โ
ยฅ53M
ยฅ21M
ยฅ15M
ยฅ14M
โ
EPS
ยฅ-18.99
ยฅ-33.70
ยฅ-9.20
ยฅ13.35
ยฅ-9.77
ยฅ-6.98
Shares Outstanding
28.0M
28.0M
25.0M
25.0M
19.1M
19.1M
Shares Issued (total)
28.0M
28.0M
25.0M
25.0M
19.1M
19.1M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Total Assets
ยฅ3.6B
ยฅ4.4B
ยฅ3.4B
ยฅ3.0B
ยฅ1.0B
ยฅ1.1B
Current Assets
ยฅ1.2B
ยฅ1.5B
ยฅ1.7B
ยฅ2.2B
ยฅ500M
ยฅ902M
Cash & Deposits
ยฅ744M
ยฅ807M
ยฅ1.3B
ยฅ1.8B
ยฅ289M
ยฅ825M
Trade Receivables
ยฅ332M
ยฅ243M
ยฅ263M
ยฅ260M
ยฅ64M
ยฅ49M
Inventories
ยฅ1M
ยฅ1M
ยฅ1M
ยฅ0M
ยฅ1M
โ
Non-Current Assets
ยฅ2.4B
ยฅ2.8B
ยฅ1.6B
ยฅ842M
ยฅ547M
ยฅ184M
PP&E
ยฅ1.6B
ยฅ2.1B
ยฅ561M
ยฅ273M
ยฅ244M
ยฅ5M
Goodwill
โ
โ
ยฅ447M
ยฅ93M
ยฅ108M
โ
Intangible Assets
ยฅ1M
ยฅ42M
ยฅ511M
ยฅ109M
ยฅ119M
ยฅ0M
Investment Securities
ยฅ218M
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
ยฅ0M
Deferred Tax Assets
ยฅ367M
ยฅ402M
ยฅ289M
ยฅ273M
โ
โ
Total Liabilities
ยฅ2.6B
ยฅ2.6B
ยฅ1.3B
ยฅ789M
ยฅ609M
ยฅ782M
Current Liabilities
ยฅ2.0B
ยฅ2.0B
ยฅ796M
ยฅ312M
ยฅ191M
ยฅ303M
ST Debt
ยฅ1.4B
ยฅ1.2B
ยฅ286M
ยฅ10M
โ
ยฅ0M
Taxes Payable
ยฅ10M
ยฅ18M
ยฅ6M
ยฅ7M
ยฅ2M
ยฅ2M
Non-Current Liabilities
ยฅ606M
ยฅ569M
ยฅ545M
ยฅ477M
ยฅ418M
ยฅ479M
Total LT Borrowings
ยฅ70M
ยฅ100M
ยฅ51M
ยฅ31M
ยฅ48M
ยฅ0M
Pension Obligations
ยฅ259M
ยฅ250M
ยฅ225M
ยฅ183M
ยฅ179M
ยฅ223M
Deferred Tax Liab.
โ
ยฅ5M
ยฅ6M
ยฅ0M
ยฅ0M
ยฅ0M
Total Equity
ยฅ1.0B
ยฅ1.8B
ยฅ2.0B
ยฅ2.2B
ยฅ438M
ยฅ304M
Capital Stock
ยฅ4.5B
ยฅ4.5B
ยฅ4.2B
ยฅ4.2B
ยฅ3.5B
ยฅ3.5B
Capital Surplus
ยฅ2.9B
ยฅ2.9B
ยฅ2.9B
ยฅ2.9B
ยฅ2.2B
ยฅ2.2B
Retained Earnings
ยฅ-6.6B
ยฅ-6.0B
ยฅ-5.1B
ยฅ-4.9B
ยฅ-5.2B
ยฅ-5.0B
AOCI
ยฅ-338M
ยฅ-348M
ยฅ-350M
ยฅ-364M
ยฅ-526M
ยฅ-495M
Equity (owners)
ยฅ783M
ยฅ1.3B
ยฅ2.0B
ยฅ2.2B
ยฅ496M
ยฅ683M
Minority Interests
ยฅ574M
ยฅ834M
ยฅ385M
ยฅ387M
ยฅ358M
ยฅ4M
Total Interest-Bearing Debt โ
ยฅ1.5B
ยฅ1.3B
ยฅ337M
ยฅ41M
ยฅ48M
ยฅ0M
Net Cash โ
ยฅ-714M
ยฅ-541M
ยฅ1.0B
ยฅ1.8B
ยฅ241M
ยฅ825M
NCAV โ
ยฅ-1.4B
ยฅ-1.0B
ยฅ380M
ยฅ1.4B
ยฅ-109M
ยฅ120M
NCAV/Share
ยฅ-49
ยฅ-37
ยฅ15
ยฅ56
ยฅ-6
ยฅ6
BV/Share
ยฅ28
ยฅ47
ยฅ78
ยฅ87
ยฅ26
ยฅ36
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Operating CF
ยฅ-86M
ยฅ-299M
ยฅ-131M
ยฅ546M
ยฅ-596M
ยฅ382M
Interest Paid
ยฅ-37M
ยฅ-20M
ยฅ-4M
ยฅ-0M
ยฅ-0M
โ
Interest Received
ยฅ27M
ยฅ39M
ยฅ11M
ยฅ5M
ยฅ0M
ยฅ0M
D&A
ยฅ140M
ยฅ109M
ยฅ39M
ยฅ93M
ยฅ15M
ยฅ123M
Goodwill Amort.
โ
ยฅ53M
ยฅ21M
ยฅ15M
ยฅ14M
โ
Investing CF
ยฅ-117M
ยฅ-1.7B
ยฅ-831M
ยฅ-271M
ยฅ62M
ยฅ1M
CapEx
ยฅ87M
ยฅ1.7B
ยฅ188M
ยฅ51M
ยฅ41M
ยฅ4M
Purchase Investments
ยฅ-210M
โ
โ
โ
โ
โ
Proceeds from Invest.
ยฅ0M
โ
โ
โ
โ
ยฅ5M
Financing CF
ยฅ126M
ยฅ1.6B
ยฅ21M
ยฅ1.3B
ยฅ0M
ยฅ310M
LT Debt Repaid
ยฅ-19M
ยฅ-16M
ยฅ-12M
ยฅ-7M
โ
โ
Free Cash Flow
ยฅ-173M
ยฅ-2.0B
ยฅ-319M
ยฅ495M
ยฅ-637M
ยฅ378M
Net Change in Cash
ยฅ-69M
ยฅ-415M
ยฅ-907M
ยฅ1.6B
ยฅ-536M
ยฅ729M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
FY 2020
EDINET โ
Return on Equity (ROE) โ
-37.7%
-47.6%
-10.8%
24.0%
-50.2%
-43.1%
Return on Assets (ROA) โ
-13.3%
-23.5%
-7.2%
15.7%
-17.5%
-12.1%
Gross Margin โ
59.3%
59.9%
64.0%
66.4%
78.6%
83.0%
Operating Margin โ
-8.6%
-19.0%
-19.8%
13.7%
-49.6%
2.7%
Net Margin โ
-20.6%
-38.6%
-15.4%
10.0%
-31.0%
-13.3%
Current Ratio โ
0.62x
0.77x
2.16x
7.00x
2.61x
2.98x
Quick Ratio โ
0.62x
0.77x
2.16x
7.00x
2.61x
2.98x
Revenue / Share โ
ยฅ92
ยฅ84
ยฅ60
ยฅ128
ยฅ32
ยฅ52
BV/Share โ
ยฅ28
ยฅ47
ยฅ78
ยฅ87
ยฅ26
ยฅ36
NCAV/Share โ
ยฅ-49
ยฅ-37
ยฅ15
ยฅ56
ยฅ-6
ยฅ6
EPS โ
ยฅ-18.99
ยฅ-33.70
ยฅ-9.20
ยฅ13.35
ยฅ-9.77
ยฅ-6.98
DPS โ
ยฅ0.00
ยฅ0.00
ยฅ0.00
ยฅ0.00
ยฅ0.00
ยฅ0.00
Payout Ratio โ
โ
โ
โ
0.0%
โ
โ
FCF/Share โ
ยฅ-6.18
ยฅ-71.64
ยฅ-12.75
ยฅ19.76
ยฅ-33.43
ยฅ19.82
Market Valuation
Avg daily close price for calendar year ร most recently reported EPS / DPS
Metric
CY2023
CY2024
CY2025
Avg P/E โ
29.0ร
EPS from 2023-03
17.8ร
EPS from 2023-03
17.1ร
EPS from 2023-03
Avg Div Yield โ
0.00%
DPS from 2023-12
0.00%
DPS from 2024-12
0.00%
DPS from 2025-12
Avg Daily Close
ยฅ387
ยฅ238
ยฅ229
Growth Rates (CAGR)
Metric
3yr CAGR (FY2022โ2025)
5yr CAGR (FY2020โ2025)
Stock Price
-20.7%
-5.1%
Sales
-6.9%
+21.3%
FCF/Share
โ
โ
EPS
โ
โ
DPS
โ
โ
BV/Share
-31.6%
-4.8%
NCAV/Share
โ
โ
No capital allocation signals recorded for this company.
Top 10 Shareholders
Ownership DNA
Large Shareholder Reports 11
#
Shareholder
Shares (thou.)
% of Total
1
Megazone Cloud Corporation ๏ผๅธธไปปไปฃ็ไบบใชใผใใฃใณใฐ่จผๅธๆ ชๅผไผ็คพ๏ผ
10,100,560
2
่ๅท ๆ
4,545,740
3
Rakuten Securities, Inc.
ๆฅฝๅคฉ่จผๅธๆ ชๅผไผ็คพ
707,200
4
Citibank, N.A.
KOREA SECURITIES DEPOSITORY-SAMSUNG ๏ผๅธธไปปไปฃ็ไบบใทใใฃใใณใฏใใจใใปใจใคๆฑไบฌๆฏๅบ๏ผ
277,600
5
Citibank, N.A.
KSD-MIRAE ASSET SECURITIES(CLIENT) ๏ผๅธธไปปไปฃ็ไบบใทใใฃใใณใฏใใจใใปใจใคๆฑไบฌๆฏๅบ๏ผ
265,100
6
SBI Securities Co., Ltd.
ๆ ชๅผไผ็คพSBI่จผๅธ
254,194
7
ไบไธ ๅๅนธ
247,000
8
ไธ่ฑUFJ eในใใผใ่จผๅธๆ ชๅผไผ็คพ
141,600
9
่ฆๅ ๆฐ
137,000
10
SOCIETE GENERALE PARIS๏ผBT REGISTRATION MARC๏ผOPT ๏ผๅธธไปปไปฃ็ไบบใฝใทใจใใปใธใงใใฉใซ่จผๅธๆ ชๅผไผ็คพ๏ผ
103,500
Domestic Nominees
0.0%
+0.0% vs 2024
Trust bank custodians โ GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
59.9%
-0.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2022
2023
2023
2024
2025
Megazone Cloud Corporation
13.36%
30.79%
30.79%
32.84%
36.04%
+3.20%
่ๅท ๆ
19.04%
16.65%
16.65%
20.21%
16.22%
-3.99%
Rakuten Securities, Inc.
ๆฅฝๅคฉ่จผๅธ
1.38%
0.77%
0.82%
1.99%
2.52%
+0.53%
KOREA SECURITIES DEPOSITORY-SAMSUNG
โ
1.82%
0.28%
0.37%
0.39%
0.99%
+0.60%
KSD-MIRAE ASSET SECURITIES(CLIENT)
โ
โ
1.06%
0.94%
0.95%
+0.01%
SBI Securities Co., Ltd.
SBI่จผๅธ
2.25%
โ
โ
1.85%
0.91%
-0.94%
ไบไธ ๅๅนธ
โ
0.27%
0.88%
0.88%
0.88%
ไธ่ฑUFJ eในใใผใ่จผๅธ
NEW ENTRY
โ
โ
โ
โ
โ
0.51%
NEW
่ฆๅ ๆฐ
โ
0.42%
0.42%
0.38%
0.49%
+0.11%
Sociรฉtรฉ Gรฉnรฉrale
NEW ENTRY
โ
โ
โ
โ
โ
0.37%
NEW
auใซใใณใ ่จผๅธ
last seen 2024
Exited Top 10
1.48%
โ
0.59%
0.68%
โ
ๅผไผ็คพ่จผๅธใธใฃใใณ
last seen 2024
Exited Top 10
โ
โ
โ
0.34%
โ
ๅฎ้ ๆด็ฅ
last seen 2023
Exited Top 10
0.83%
0.45%
โ
โ
โ
็ๆจ ่ซ
last seen 2023
Exited Top 10
โ
0.49%
0.49%
โ
โ
UBS AG
UBS
last seen 2022
Exited Top 10
0.54%
โ
โ
โ
โ
JPMorgan Securities Japan Co., Ltd.
JPใขใซใฌใณ่จผๅธ
last seen 2023
Exited Top 10
1.06%
โ
0.68%
โ
โ
ๆ ้ฆๅ
้
last seen 2023
Exited Top 10
โ
0.29%
โ
โ
โ
Japan Securities Finance Co., Ltd.
ๆฅๆฌ่จผๅธ้่
last seen 2023
Exited Top 10
โ
0.52%
โ
โ
โ
ๅพ่ค ไบๅธๅญ
last seen 2022
Exited Top 10
1.52%
โ
โ
โ
โ
Concentration (HHI)
โ
558
1227
1229
1497
1572
5 fiscal years ยท top-10 holders per year ยท >2,500 HHI = high concentration ยท entity-resolved
โ CSV
Date Shareholder Stake Event Flag Demands Source
2026-01-08
Satoru Kikugawa
16.22%
change
Passive
โ
2025-12-12
Satoru Kikugawa
16.22%
-3.99%
change
Passive
โ
2025-12-12
Megazone Cloud Corporation
36.04%
+3.2%
change
Passive
โ
2025-09-17
Satoru Kikugawa
20.21%
change
Passive
โ
2025-09-17
Megazone Cloud Corporation
32.84%
change
Passive
โ
2025-07-04
Megazone Cloud Corporation
32.84%
change
Passive
โ
2024-06-26
Satoru Kikugawa
20.21%
change
Passive
โ
2024-05-29
Satoru Kikugawa
21.35%
change
Passive
โ
2024-05-29
Satoru Kikugawa
20.21%
-1.14%
change
Passive
โ
2024-05-29
Megazone Cloud Corporation
32.84%
change
Passive
โ
2024-03-14
Satoru Kikugawa
21.35%
change
Passive
โ
Date
Category
Summary
Amount
2026-02-13
๐ฅ Financial
Impairment
The company recorded impairment losses on fixed assets of subsidiary Treeful Co., Ltd. due to declining operational capacity and uncertain capital recovery prospects. Additionally, the parent company recorded evaluation losses on affiliate company stocks and provisions for potential losses from affiliate business operations totaling 270,627 thousand yen on an individual basis.
ยฅ0M
โบ
Summary
The company recorded impairment losses on fixed assets of subsidiary Treeful Co., Ltd. due to declining operational capacity and uncertain capital recovery prospects. Additionally, the parent company recorded evaluation losses on affiliate company stocks and provisions for potential losses from affiliate business operations totaling 270,627 thousand yen on an individual basis.
Counterparty: ๆ ชๅผไผ็คพใใชใผใใซ (Treeful Co., Ltd.)
้ฃ็ตๅญไผ็คพใงใใๆ ชๅผไผ็คพใใชใผใใซใไฟๆใใๆๅฝขๅบๅฎ่ณ็ฃๅใณ็กๅฝขๅบๅฎ่ณ็ฃใซใคใใฆใ็จผๅ็ใฎไฝไธใซไผดใใๆไธ่ณๆฌใฎๅฐๆฅใฎๅๅๅฏ่ฝๆงใๆฅตใใฆไธ็ขบๅฎใช็ถๆณใจใชใใพใใใๆธๆๆๅคฑใ่จไธใใใใจใจใใใใพใใใ
โ
2026-01-28
๐ค Management Change
Board
The company's Board of Auditors resolved on January 28, 2026 to change its audit firm. The incumbent auditor, Ks Lab. Audit Corporation, will retire upon completion of its term at the 33rd Annual General Meeting of Shareholders scheduled for March 28, 2026. Aoi Audit Corporation has been selected as the new auditor, determined to be most suitable based on professional expertise, independence, quality management systems, audit capabilities, and fee reasonableness.
โ
โบ
Summary
The company's Board of Auditors resolved on January 28, 2026 to change its audit firm. The incumbent auditor, Ks Lab. Audit Corporation, will retire upon completion of its term at the 33rd Annual General Meeting of Shareholders scheduled for March 28, 2026. Aoi Audit Corporation has been selected as the new auditor, determined to be most suitable based on professional expertise, independence, quality management systems, audit capabilities, and fee reasonableness.
Counterparty: Aoi Audit Corporation (ๆฐไปป); Ks Lab. Audit Corporation (้ไปป)
ๅฝ็คพใฏใ2026ๅนด๏ผๆ28ๆฅ้ๅฌใฎ็ฃๆปๅฝนไผใซใใใฆใ้่ๅๅๅๅผๆณ็ฌฌ193ๆกใฎ๏ผ็ฌฌ๏ผ้
ๅใณ็ฌฌ๏ผ้
ใฎ็ฃๆป่จผๆใ่กใ็ฃๆปๅ
ฌ่ชไผ่จๅฃซ็ญใฎ็ฐๅใ่กใใใจใซใคใใฆๆฑบ่ญฐใใใใพใใ
โ