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DeNA Co
(2432)
DeNA Co (2432) vs. iShares MSCI Japan ETF (EWJ)
DeNA Co Business Overview & Revenue Model
DeNA Co Financial Statement Overview
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 161.72B | 164.00B | 136.73B | 134.91B | 130.87B | 136.97B |
| Gross Profit | 92.84B | 92.64B | 60.99B | 64.09B | 65.94B | 74.93B |
| EBITDA | 31.53B | 35.84B | -18.44B | 17.45B | 20.89B | 34.82B |
| Net Income | 25.26B | 24.19B | -28.68B | 8.86B | 30.53B | 25.63B |
Balance Sheet | ||||||
| Total Assets | 374.99B | 394.19B | 335.71B | 348.94B | 340.57B | 327.12B |
| Cash, Cash Equivalents and Short-Term Investments | 97.53B | 92.80B | 71.80B | 98.01B | 78.53B | 98.31B |
| Total Debt | 58.40B | 50.01B | 44.51B | 45.16B | 28.27B | 27.14B |
| Total Liabilities | 115.30B | 141.31B | 115.68B | 114.95B | 95.66B | 98.46B |
| Stockholders Equity | 251.44B | 241.73B | 209.20B | 221.63B | 240.63B | 223.71B |
Cash Flow | ||||||
| Free Cash Flow | 43.42B | 34.75B | -21.39B | 3.23B | 11.94B | 20.69B |
| Operating Cash Flow | 50.85B | 39.00B | -10.84B | 10.81B | 18.38B | 29.97B |
| Investing Cash Flow | -17.17B | -12.26B | -12.63B | 12.45B | -19.92B | -8.64B |
| Financing Cash Flow | -9.78B | -5.46B | -4.10B | -4.93B | -18.55B | 6.61B |
DeNA Co Technical Analysis
DeNA Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥305.32B | 11.73 | 17.98% | 2.52% | 34.16% | ― | |
69 Neutral | ¥175.48B | 10.15 | 9.54% | 4.61% | 1.14% | 77.07% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥141.52B | 99.65 | 3.38% | 2.38% | -3.12% | -63.07% | |
60 Neutral | ¥45.14B | 11.80 | ― | 4.06% | -15.30% | 39.61% | |
54 Neutral | ¥69.49B | 46.19 | 4.14% | 2.09% | -2.61% | 116.80% | |
45 Neutral | ¥25.42B | -4.12 | ― | ― | -14.71% | -38.87% |
DeNA Co Corporate Events
DeNA has overhauled its dividend policy to prioritize stable shareholder returns tied to capital efficiency, shifting from a payout-ratio-based framework to targeting a dividend on equity (DOE) of around 3% on a consolidated basis from the fiscal year ending March 31, 2026. Under the new policy, the company will pay a year-end dividend once a year, may supplement returns with share buybacks depending on market and business conditions, and intends to deploy retained earnings into reinforcing its existing earnings base and building a portfolio for medium- to long-term growth. Reflecting this change, DeNA raised its dividend forecast for the current fiscal year to 66 yen per share at year-end, up from an undetermined prior forecast and slightly above the previous year’s 65 yen total payout, signaling stronger commitment to capital efficiency and shareholder returns as it continues a broader review of capital allocation and cost-of-capital-conscious management.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2738.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA has revised its consolidated earnings forecast for the fiscal year ending March 31, 2026, lowering its projections for IFRS-based operating profit and non-GAAP operating profit, while keeping revenue broadly in line with previous expectations. The company cited recent business performance trends, noting that its Game Business is tracking toward the upper end of prior guidance, and that both the Live Streaming and Sports businesses are performing steadily with a focus on profitability, but the headline IFRS operating profit outlook is being weighed down by newly recognized impairment losses.
The revision is driven mainly by a ¥9.6 billion impairment loss on goodwill related to Allm Inc. in the Healthcare & Medical Business, which has been booked as other expenses under IFRS, and a related ¥15.7 billion loss on valuation of shares of subsidiaries and associates expected to be recorded as an extraordinary loss in the non-consolidated results under Japanese GAAP. While these non-cash charges depress IFRS operating profit, they are excluded from non-GAAP operating profit, underscoring that the underlying operating performance in DeNA’s core segments remains resilient even as the company resets balance-sheet valuations in its healthcare-related investments, with implications for investors monitoring earnings quality and segment strategy.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2738.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA reported consolidated revenue of ¥114.5 billion for the nine months ended December 31, 2025, down 1.9% year on year, while operating profit fell 19.5% to ¥16.9 billion, but profit before tax and profit attributable to owners of the parent rose 5.2% and 6.8%, respectively, supported by improved profitability and higher earnings per share. The company strengthened its balance sheet, lifting the equity ratio attributable to owners from 61.3% to 67.1%, revised its full-year forecast downward to ¥146.5 billion in revenue and ¥17.0 billion in IFRS operating profit, and simultaneously announced a dividend policy change that raises the full-year dividend forecast from ¥65 to ¥66 per share, signaling a continued commitment to shareholder returns despite expectations of lower sales and profit growth.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2738.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA announced that its equity-method affiliate GO Inc., a long-established mobility services provider that operates taxi dispatch and related systems, has applied for listing on the Tokyo Stock Exchange. The potential listing, which remains subject to regulatory examination and TSE approval with no guaranteed timing, could raise GO Inc.’s profile and liquidity while underscoring DeNA’s role as a major strategic shareholder with a 25.75% stake, though the company cautioned that it will provide further disclosures only as progress warrants.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2738.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA Co., Ltd. announced it will receive a dividend of 8.379 billion yen from its equity-method affiliate, Cygames, Inc., following a resolution by CyberAgent, Inc., the largest shareholder of Cygames. This dividend will be recorded as non-operating income in DeNA’s standalone financial results for the third quarter of the fiscal year ending March 2026, with limited impact on its consolidated financial results.
The most recent analyst rating on (JP:2432) stock is a Hold with a Yen2070.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA Co., Ltd. has announced a new policy initiative aimed at enhancing management practices with a focus on cost of capital and stock price, targeting sustainable growth and increased corporate value in the medium to long term. The company plans to disclose specific measures and progress leading up to the fiscal year ending March 2026, which could impact its operational strategies and stakeholder interests.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2694.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA Co., Ltd. has announced the establishment of the Delight Ventures Builder III Investment Limited Partnership, aimed at strengthening its AI initiatives under the AI-ALL-IN policy. This investment is expected to enhance the startup ecosystem and entrepreneurial culture, although its immediate impact on financial results is projected to be minimal.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2694.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.
DeNA Co., Ltd. reported a significant increase in its financial performance for the six months ended September 30, 2025, with revenue rising by 18.3% and operating profit surging by 354.1% compared to the previous year. The company’s strong results reflect its strategic initiatives and market positioning, indicating a robust recovery and potential growth opportunities for stakeholders.
The most recent analyst rating on (JP:2432) stock is a Buy with a Yen2694.00 price target. To see the full list of analyst forecasts on DeNA Co stock, see the JP:2432 Stock Forecast page.