Industry map/Entertainment, Media & Leisure
Games industry map
Who earns the money in Games, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 58 companies · ¥9.88T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥9.88T
- Companies
- 58
- Avg. salary（parent only）
- ¥6.5M
- Industry weather
- Sunny
YoY +14.9%
Avg. age 39.0
Operating income +12.4%
Sony Group[6758]
Game and Network Services
- Revenue
- ¥4.57T▲0.6%
- Operating income
- ¥463.3B▲11.7%
Margin 10.1%
Whole company: Revenue ¥12.5T · Net income -¥326.9B
Avg. salary ¥11.6M · 42.7（parent only）
- Kadokawa・Capital alliance
Bandai Namco Holdings[7832]
Digital Business
- Revenue
- ¥470.7B▲4.6%
- Operating income
- ¥56.7B▼17.3%
Margin 12.0%
Whole company: Revenue ¥1.35T · Net income ¥140.7B
Avg. salary ¥9.8M · 44.6（parent only）
- Sony Group owns 2.5%
- Nintendo owns 1.8%
Happinet[7552]
Video-game business
- Revenue
- ¥119B▲52.5%
- Operating income
- ¥2.2B▲773.4%
Margin 1.8%
Whole company: Revenue ¥439.1B · Net income ¥10.1B
Avg. salary ¥7.7M · 39.0（parent only）
- Bandai Namco Holdings owns 26.2%
Nintendo[7974]
- Revenue
- ¥2.31T▲98.6%
- Operating income
- ¥360.1B▲27.5%
Margin 15.6%
Avg. salary ¥9.8M · 40.5（parent only）
- DeNA・Capital alliance
Nexon[3659]
Korea + 3 more
- Revenue
- ¥436.1B▼0.8%
- Operating income
- ¥129.4B▼12.7%
Margin 29.7%
Whole company: Revenue ¥475.1B · Net income ¥92.1B
Avg. salary ¥9.1M · 40.1（parent only）
Konami Group[9766]
Digital Entertainment + 1 more
- Revenue
- ¥395.5B▲20.8%
- Operating income
- ¥142.8B▲35.5%
Margin 36.1%
Whole company: Revenue ¥493.7B · Net income ¥100B
Avg. salary ¥8.5M · 35.5（parent only）
Sega Sammy Holdings[6460]
Entertainment contents business
- Revenue
- ¥326.6B▲1.6%
- Operating income
- ¥34.4B▼17.8%
Margin 10.5%
Whole company: Revenue ¥487.5B · Net income -¥5.76B
Avg. salary ¥8.8M · 43.1（parent only）
CyberAgent[4751]
Game business
- Revenue
- ¥216.4B▲10.6%
- Operating income
- ¥60.1B▲96.5%
Margin 27.8%
Whole company: Revenue ¥874B · Net income ¥31.7B
Avg. salary ¥9.1M · 33.8（parent only）
Square Enix Holdings[9684]
Digital Entertainment Segment
- Revenue
- ¥172.9B▼16.3%
- Operating income
- ¥43.4B▲28.0%
Margin 25.1%
Whole company: Revenue ¥297.7B · Net income ¥29.6B
Avg. salary ¥13.2M · 48.0（parent only）
Capcom[9697]
Degital contents
- Revenue
- ¥144.3B▲15.3%
- Operating income
- ¥70.6B▲8.4%
Margin 48.9%
Whole company: Revenue ¥195.4B · Net income ¥54.6B
Avg. salary ¥9.9M · 38.1（parent only）
GungHo Online Entertainment[3765]
- Revenue
- ¥93.2B▼10.0%
- Operating income
- ¥5.06B▼71.1%
Margin 5.4%
Avg. salary ¥7.6M · 41.0（parent only）
Mixi[2121]
Digital entertainment business
- Revenue
- ¥83.9B▼10.8%
- Operating income
- ¥43B▼2.8%
Margin 51.3%
Whole company: Revenue ¥171.4B · Net income ¥17.3B
Avg. salary ¥8.5M · 38.1（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Koei Tecmo Holdings · DeNA · Bushiroad · GREE Holdings · Marvelous · Kadokawa · Colopl · Digital Hearts Holdings · Akatsuki · Drecom · Aiming · Cave · Bank of Innovation · Aeria · coly · Mynet · NJ Holdings · gumi · KLab · Tose · Imagineer · Appirits · Edia · Yuke's · Ateam Holdings · Nippon Ichi Software · Tokyo Communications Group · Mobile Factory · AltPlusInc. · Voltage Incorporation · Furyu · Silicon Studio · Nihon Falcom · Gala · Tecmira Holdings · CommSeed · WonderPlanet · CyberStep Holdings · enish · CRI Middleware …+6
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Sony GroupGame and Network Services | ¥4.57T | 46.3% | 10.1% | +14.3% | ¥1.49T |
| 2 | Nintendo | ¥2.31T | 23.4% | 15.6% | +8.1% | ¥262.6B |
| 3 | Bandai Namco HoldingsDigital Business | ¥470.7B | 4.8% | 12.0% | +5.9% | ¥118.9B |
| 4 | NexonKorea + 3 more | ¥436.1B | 4.4% | 29.7% | +12.4% | ¥162.4B |
| 5 | Konami GroupDigital Entertainment + 1 more | ¥395.5B | 4.0% | 36.1% | +16.6% | — |
| 6 | Sega Sammy HoldingsEntertainment contents business | ¥326.6B | 3.3% | 10.5% | +8.5% | ¥12.7B |
| 7▲1 | CyberAgentGame business | ¥216.4B | 2.2% | 27.8% | -4.7% | — |
| 8▼1 | Square Enix HoldingsDigital Entertainment Segment | ¥172.9B | 1.7% | 25.1% | -11.3% | ¥44.2B |
| 9 | CapcomDegital contents | ¥144.3B | 1.5% | 48.9% | +13.3% | ¥17.1B |
| 10▲2 | HappinetVideo-game business | ¥119B | 1.2% | 1.8% | +8.5% | ¥15.2B |
| 11▼1 | GungHo Online Entertainment | ¥93.2B | 0.9% | 5.4% | -2.8% | -¥960M |
| 12▼1 | MixiDigital entertainment business | ¥83.9B | 0.8% | 51.3% | -2.1% | ¥9.49B |
| 13▲1 | Koei Tecmo HoldingsEntertainment | ¥82.2B | 0.8% | 44.6% | +4.6% | ¥8.95B |
| 14▼1 | DeNAGame business | ¥64.2B | 0.6% | 46.2% | -3.7% | — |
| 15▲1 | Bushiroadentertainment | ¥49.9B | 0.5% | 9.4% | — | ¥5.31B |
| 16▼1 | GREE HoldingsGame,Anime business | ¥36.9B | 0.4% | 12.4% | — | ¥668M |
| 17▲3 | MarvelousDigital contents Enterprise + 1 more | ¥33.2B | 0.3% | 9.4% | — | ¥9.81B |
| 18▼1 | KadokawaGame | ¥29.6B | 0.3% | 25.4% | +11.2% | -¥6.08B |
| 19▼1 | ColoplEntertainment business | ¥23.3B | 0.2% | -0.8% | -10.9% | ¥2.53B |
| 20▼1 | Digital Hearts HoldingsDH Group | ¥23B | 0.2% | 9.8% | — | ¥2.44B |
| 21 | AkatsukiGame,Comic | ¥22.1B | 0.2% | 36.0% | — | ¥2.1B |
| 22▲3 | DrecomGame service | ¥16.8B | 0.2% | 7.6% | +12.8% | ¥1.48B |
| 23▼1 | Aiming | ¥15.8B | 0.2% | 13.1% | — | ¥4.51B |
| 24 | CaveGame Business | ¥12.8B | 0.1% | 8.7% | +75.2% | -¥257.7M |
| 25▼2 | Bank of Innovation | ¥12.4B | 0.1% | 17.4% | +55.2% | ¥2.83B |
| 26▲1 | AeriaContents business | ¥9.31B | 0.1% | -0.2% | -6.8% | -¥788M |
| 27▲4 | coly | ¥7.02B | 0.1% | -2.1% | +1.9% | -¥602.2M |
| 28 | MynetGame Business | ¥6.8B | 0.1% | 4.7% | — | — |
| 29▲1 | NJ HoldingsGame | ¥6.53B | 0.1% | 3.6% | -8.6% | -¥645.1M |
| 30▼4 | gumiMobile Online Game | ¥6.45B | 0.1% | -1.8% | — | -¥2.54B |
| 31▼2 | KLabGames | ¥6.37B | 0.1% | — | -27.9% | -¥2.48B |
| 32▲4 | ToseGames business | ¥6.05B | 0.1% | 10.3% | — | ¥257.5M |
| 33▼1 | Imagineer | ¥5.69B | 0.1% | 2.5% | -2.6% | — |
| 34▲1 | AppiritsOSHI Culture and Gaming | ¥4.67B | 0.0% | 7.3% | — | -¥52.3M |
| 35▲3 | Edia | ¥4.66B | 0.0% | 9.5% | +16.9% | ¥250.7M |
| 36▲7 | Yuke's | ¥4.29B | 0.0% | 4.2% | +4.2% | ¥121.4M |
| 37▼3 | Ateam HoldingsEntertainment | ¥4.2B | 0.0% | 12.3% | -12.8% | ¥1.61B |
| 38▼5 | Nippon Ichi SoftwareEntertainmennt | ¥3.49B | 0.0% | 1.1% | -11.4% | -¥128.6M |
| 39▲3 | Tokyo Communications GroupMedia business | ¥3.41B | 0.0% | 10.7% | — | ¥359.5M |
| 40▲5 | Mobile FactoryMobile games | ¥3.17B | 0.0% | 29.6% | +6.4% | — |
| 41▼2 | AltPlusInc. | ¥2.9B | 0.0% | -16.1% | -20.6% | -¥575.3M |
| 42▼2 | Voltage Incorporation | ¥2.82B | 0.0% | 0.5% | -20.1% | -¥1.4M |
| 43▼6 | FuryuFURYU New business | ¥2.67B | 0.0% | -17.0% | — | ¥2.96B |
| 44new | Silicon StudioDevelopment promotion and support | ¥2.66B | 0.0% | 13.9% | — | ¥276M |
| 45▲2 | Nihon Falcom | ¥2.61B | 0.0% | 51.3% | +1.3% | ¥1.01B |
| 46▲4 | GalaKorea + 1 more | ¥2.59B | 0.0% | -9.2% | -6.9% | -¥173.1M |
| 47▼3 | Tecmira HoldingsLife Design | ¥2.59B | 0.0% | 1.4% | — | -¥429.5M |
| 48 | CommSeedMobile business + 1 more | ¥2.47B | 0.0% | 5.7% | — | -¥101.3M |
| 49 | WonderPlanet | ¥2.32B | 0.0% | -5.6% | -10.3% | -¥321M |
| 50▼4 | CyberStep HoldingsOnline Game Business | ¥2.2B | 0.0% | -27.5% | — | -¥2.05B |
Showing the top 50. See all 58 in the list below
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- Koei Tecmo Holdings352342
- Capcom441838
- Akatsuki462529
- Konami Group512027
- Nexon413426
- Square Enix Holdings473518
- Bank of Innovation523117
- Nintendo612415
- Bandai Namco Holdings612514
- Mixi345313
- DeNA463513
- Aiming404713
- Sony Group691812
- Sega Sammy Holdings563410
- Bushiroad64279
- CyberAgent70228
- GREE Holdings49438
- Cave63298
- Digital Hearts Holdings74197
- Marvelous6430
- GungHo Online Entertainment5540
- Happinet888
- Colopl6927
- Kadokawa6631
- Drecom6929
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- SBIホールディングス株式会社Outside
- Affiliategumi30.5%
- Bandai Namco HoldingsIn industry
- 株式会社トラストホールディングスOutside
- AffiliateTokyo Communications Group21.5%
- KDDI株式会社Outside
- StakeGunosy14.8%
- NintendoIn industry
- StakeDeNA14.0%
- ColoplIn industry
- StakeAiming14.0%
- Sony GroupIn industry
- Koei Tecmo HoldingsIn industry
- StakeAkatsuki7.8%
- GREE HoldingsIn industry
- StakeBushiroad4.6%
- ユナイテッド株式会社Outside
- StakeWonderPlanet3.5%
- 株式会社アルゴグラフィックスOutside
- StakeSilicon Studio3.3%
- 日本証券金融株式会社Outside
- Stakegumi3.0%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Games (by revenue)
All 60 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Sony Group¥4.57T · 10.1%
- Nintendo¥2.31T · 15.6%
- Bandai Namco Holdings¥470.7B · 12.0%
- Nexon¥436.1B · 29.7%
- Konami Group¥395.5B · 36.1%
- Sega Sammy Holdings¥326.6B · 10.5%
- CyberAgent¥216.4B · 27.8%
- Square Enix Holdings¥172.9B · 25.1%
- Capcom¥144.3B · 48.9%
- Happinet¥119B · 1.8%
- GungHo Online Entertainment¥93.2B · 5.4%
- Mixi¥83.9B · 51.3%
- Koei Tecmo Holdings¥82.2B · 44.6%
- DeNA¥64.2B · 46.2%
- Bushiroad¥49.9B · 9.4%
- Marvelous¥33.2B · 9.4%
- Kadokawa¥29.6B · 25.4%
- GREE Holdings¥29.4B · 12.6%
- Colopl¥23.3B · -0.8%
- Digital Hearts Holdings¥23B · 9.8%
- Akatsuki¥22.1B · 36.0%
- Drecom¥16.8B · 7.6%
- Aiming¥15.8B · 13.1%
- Bank of Innovation¥12.4B · 17.4%
- Cave¥11B · -5.7%
- Aeria¥9.31B · -0.2%
- coly¥7.02B · -2.1%
- gumi¥7.01B · -6.7%
- NJ Holdings¥6.97B · 4.4%
- Mynet¥6.8B · 4.7%
- KLab¥6.37B
- Tose¥6.05B · 10.3%
- Imagineer¥5.69B · 2.5%
- Appirits¥4.67B · 7.3%
- Edia¥4.66B · 9.5%
- Yuke's¥4.29B · 4.2%
- Ateam Holdings¥4.2B · 12.3%
- Nippon Ichi Software¥3.49B · 1.1%
- Tokyo Communications Group¥3.41B · 10.7%
- Mobile Factory¥3.17B · 29.6%
- AltPlusInc.¥2.9B · -16.1%
- Voltage Incorporation¥2.82B · 0.5%
- Furyu¥2.67B · -17.0%
- Silicon Studio¥2.66B · 13.9%
- Nihon Falcom¥2.61B · 51.3%
- Gala¥2.59B · -9.2%
- Tecmira Holdings¥2.59B · 1.4%
- CommSeed¥2.47B · 5.7%
- WonderPlanet¥2.32B · -5.6%
- enish¥2.17B · -39.5%
- CyberStep Holdings¥2.08B · -20.9%
- CRI Middleware¥1.81B · 10.3%
- Orchestra Holdings¥1.73B · 3.3%
- Tenda¥1.05B · 1.2%
- Gunosy¥944M · -22.5%
- Extreme¥924M · 49.9%
- abc¥543.8M · -33.5%
- THE WHY HOW DO Company¥264.2M · 12.0%
- Quantum Solutions¥120.9M · -251.8%
- Wize¥9.3M · -675.3%
Revenue · Op. margin
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