Share price surge pushes GungHo Online's market cap past $10 billion

Eclipses DeNA, GREE and Zynga

Share price surge pushes GungHo Online's market cap past $10 billion
Puzzle & Dragons developer GungHo Online Entertainment's share price (3765:JP) has jumped 55 percent in the last three days, causing its market cap to swell to more than $10 billion.

The studio, which has made headlines around the globe in recent months, now boasts a market cap well in excess of Japanese giants such as DeNA on around $4.3 billion and GREE, whch sits just shy of $3 billion.

Western social gaming giant Zynga also now sits in GungHo's shadow, with a market cap of $2.6 billion.

Cause and effect

The surge seems to have been prompted by a number of GungHo announcements regarding new Puzzle & Dragons games, including a DS port and a Japan-only spin-off for iOS and Android – Puzzle & Dragons Challenge.

GungHo has also just launched an English language version of Puzzle & Dragons for Android, although it is still not available in key territories such as the UK.

Despite its limited worldwide availability, however, Puzzle & Dragons is still a likely contender for the most lucrative mobile game in the world.


In February alone, GungHo Online grossed roughly $106 million.

Tokyo-based mobile gaming consultant Dr Serkan Toto estimates that Puzzle & Dragons generated somewhere between $62 million and $86 million of that total.

GungHo Online CEO Kazuki Morishita

And the game is attracting new players at a remarkable rate, too, reliably adding one million new users every couple of weeks. At last count, Puzzle & Dragons had more than 12 million players.

[source: Serkan Toto]
Staff Writer's news editor 2012-2013