GungHo’s sales and profits continue to fall amidst Puzzle & Dragons decline

GungHo’s sales and profits continue to fall amidst Puzzle & Dragons decline

GungHo's revenue and profit margin continues to decline despite its efforts to turn around the fall in popularity of its hit mobile game Puzzle & Dragons.

Revenues for the three months ending March 31st 2018 came in at ¥21,899 million ($199m), a decrease of 14.7 per cent.

Operating profit meanwhile fell 36.2 per cent to ¥6,461 million ($59m).

Franchise expansion

Despite the game’s long-term decline, it still remains a huge revenue and profit generator for GungHo having surpassed 48 million downloads. As such, it’s been building partnerships with other IP holders for special in-game event collaborations, as well as expanding the IP into other media.

A Puzzle & Dragons cartoon began airing on April 2nd 2018, while the March 2018 issue of the Japanese monthly manga magazine CoroCoro Comic welcomed the launch of a new running P&D manga series.

The publisher is on the lookout for the next big thing though. GungHo recently released new titles such as football title Calcio Fantasista, competitive card game CHRONO MA:GIA and Ragnarok M.

Moving forward the company has 10 new releases in the pipeline for mobile, consoles and other platforms.

Earlier this year contributing editor Jon Jordan analysed GungHo's financials in recent years and its highly profitable - but ultimately unavoidable - decline.

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Senior Editor

Craig Chapple is Senior Editor of and He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.


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