GungHo Announces Financial Earnings for Last Year, Share Buyback Plan

February 3rd, 2014 by in ,

After the close of trading today in Japan, GungHo Online Entertainment revealed information on their financial performance for the period ending December of 2013, and announced their intention to repurchase outstanding shares of stock.

Total sales for this period hit 163.06 billion yen (approximately $1.63 billion U.S.), 6.3 times their sales for the previous period. Their operating earnings reached 91.23 billion yen (approximately $912 million U.S.), 9.8 times their operating earnings for the previous period, and a 3-billion yen increase from their earlier prediction . Finally, their net earnings reached 54.77 billion yen (approximately $548 million U.S.), 6.7 times the amount they reached during the previous period.

Much of this success can be attributed to their enormously popular smartphone title Puzzle & Dragons, which surpassed 22 million total downloads in Japan last December. Puzzle & Dragons Z, their spin-off title for the Nintendo 3DS has also been doing quite well.

Likely due to their recent success, Gungho also announced that they intend to repurchase up to 4.3 million shares of their outstanding stock (about 0.37% of their total outstanding shares), and are prepared to spend up to 3 billion yen ($30 million U.S.) in order to do so. They are planning to reacquire this stock between March 6th and April 30th.

Gung Ho’s stock is currently valued at 610 yen (approximately $6.10 U.S.) per share.

News Source: niconico news