Dear shareholders,
Driven by our Vision "To create the 21st century's leading company," we
have delivered 28 consecutive years of revenue growth. Fiscal year 2025
marked a pivotal milestone: the Media & IP business achieved profitability
a decade after launching ABEMA. Concurrently, multiple new titles in the
Game business became hits, resulting in a significant profit increase that
far outperformed our upwardly revised forecasts.
Navigating the dynamic internet landscape, we have capitalized on our adaptability
to change to drive growth, from shifting to mobile and entering the gaming
sector to launching ABEMA. Today, we recognize AI as a paradigm shift comparable
to the dawn of the internet. We are convinced that a clear distinction will
emerge between companies that utilize AI and those that do not. Consequently,
we are positioning AI utilization as a core competitive advantage, accelerating
value creation and optimizing efficiency across our organization.
I believe sustainable growth requires a disciplined approach: never ignoring
future challenges while relentlessly preparing new businesses. Our "Ashita
Kaigi" (Meeting for Tomorrow), established in 2006, embodies our culture
of eliminating procrastination and embracing continuous transformation.
In these meetings, executive-led teams go beyond proposing new ventures;
we rigorously identify medium to long-term risks and challenges to formulate
and execute actionable solutions.
"Ashita Kaigi" has triggered numerous key measures, including establishing
strategic subsidiaries, creating specialized departments for talent optimization,
and performance-based management systems. More importantly, this continuous
practice has ingrained a proactive mindset throughout the company, enabling
us to anticipate challenges and seize emerging trends.
To evolve CyberAgent from a founder-led company into a truly public company,
I initiated my succession plan in 2022. Following a three-and-a-half-year
preparation process, Takahiro Yamauchi has assumed the role of President
and Representative Director.
Given the complexity of succession from a founder, we are adopting a dual-leadership
structure for the immediate future, with myself supporting the new governance
framework as Chairman. Rather than clearly dividing roles, I intend a gradual
transition to ensure the new President cultivates essential leadership capabilities—strategic
vision, insight, and cohesive power—by assimilating presidential duties
from the ground up.
Moving forward, we are dedicated to creating social value by simultaneously
growing our business and our talent. We remain steadfast in our Purpose:
"To break through stagnation with new power and the internet."
Shareholder
Letter
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New Management Structure
Following the 28th Annual General Meeting of Shareholders held on December 12, 2025, the changes in our Representative Director & Chairman and Representative Director & President have been officially decided. A dialogue between Fujita, and the new President, Yamauchi, is now available on our official media.
Our Path to Sustainable Growth
Since our establishment in 1998, CyberAgent has operated in the internet sector, delivering 28 consecutive fiscal years of revenue growth. Grounded in this principle, we resolved in a 2003 management meeting to enhance initiatives that maximize the motivation and capabilities of our talent, offering a combination of challenges and reassurance. We adapt to a fast-paced market by identifying business opportunities where our unique talent and culture provide a distinct competitive edge. Through continuous effort in selection and concentration, we have created new businesses and achieved sustained, long-term growth.
In 2006, we established our mission statement, which commits us to give our all in recruiting. Guided by this, we have built our human resource strategy on four pillars: recruiting, training, motivation, and optimal employee placement. As a result of this strategy, 88.6% of our employees reported that their work was rewarding in FY 2025. This metric acts as a direct indicator of our corporate competitiveness.
In pursuit of a highly profitable business model, we made a strategic decision in 2016 to channel profits from our Game and Internet Advertising businesses into long-term, large-scale upfront investments. These were directed at our Media Business (now Media & IP Business), with ABEMA at its core. After nearly a decade as our central investment focus, ABEMA has become an indispensable daily video platform for a vast audience, functioning as a vital piece of social infrastructure.
Leveraging ABEMA as a powerful driver of attraction, we have expanded into synergistic business areas. This strategy included launching an online betting service for public sports in 2019. Since 2022, we have further strengthened our portfolio by bringing companies with proven capabilities in original IP creation into the CyberAgent group. These strategic moves, all centered around ABEMA, contribute to strengthening profitability.
Since its launch, ABEMA has built sincere relationships with anime industry partners by streaming numerous titles, participating in production committees through small-scale investments, and managing marketing. This has led to an increase in projects where we serve as the lead producer, eventually enabling us to develop in-house original anime production capabilities. We are now constructing a fully integrated value chain—from original concept and animation to further adaptations, merchandising, and monetization—with the objective of creating IP that can succeed on a global scale.
Our Game Business, which we entered on a full scale in 2009, shortly after the advent of smartphones. The business now consists of seven subsidiaries, including the hit-maker Cygames, established in 2011 as of the end of September 2025. With 5,425 professionals*, it is one of the largest development teams in Japan. Each subsidiary leverages its specialized expertise while sharing knowledge and technology across the group. This operational model allows us to consistently produce hit titles and maximize their lifespan through superior operational capabilities.
In recent years, our game's proven excellence in creative quality and technical execution has earned us more contracts to develop mobile games based on major third-party IP, diversifying our portfolio. Our future focus is on the global market, where we see the greater potential for growth. We are actively pursuing global releases of our hit titles and are dedicated to acquiring new users worldwide.
Our foundational Internet Advertising Business, where tech professionals make up 23%, has led the market with its strong technological and operational capabilities. Anticipating market changes driven by AI, we established the AI Lab. research organization in 2016. This commitment to innovation has allowed us to release numerous AI tools that reshape the whole ad production process, achieving both maximum advertising effectiveness and improved productivity.
We have also expanded into the digital transformation (DX) business, partnering with clients to drive their digitalization. We collaborate with leading companies across sectors such as retail, finance, and airlines to help them launch new advertising businesses using first-party data. Also, we are actively entering new areas such as BPO services that leverage AI to create advertising creative assets for clients, aiming to improve operational efficiency.
We will continue to leverage our adaptability as a core strength, investing in our people and businesses to achieve sustained growth.
*Headcounts of Game business: Consolidated executives, employees, and fixed-term staff as of the end of September 2025.
Our History
We drive business expansion through a dual strategy: proactively identifying and entering high-growth markets while adhering to clear criteria for withdrawal. This disciplined approach of selection and concentration enables us to achieve sustainable growth by effectively allocating our resources.
Media* Launched a media business
Launched CyberAgent America, Inc. to strengthen global anime marketing
Female director ratio: 20%
Board independence ratio: 40%
- *
- Effective FY 2025, the Media Business is renamed the Media & IP Business
【Copyrights】
"Uma Musume Pretty Derby": © Cygames, Inc.