Akatsuki: TRIBE NINE Is Released, Not Looking Bad

2025-03-10 15:01:10 ET

Summary

• Akatsuki's TRIBE NINE game shows strong performance with impressive download numbers and positive reviews, potentially driving a 10% revenue bump in Q4.
• The company has invested heavily in 3D game development, with TRIBE NINE marking its first significant foray using its new capacity.
• Comics are scaling further into profitability, and the current results show that the TRIBE NINE expenses eating at operating profits will dissipate into profits.
• Akatsuki's pipeline, including the anticipated Kaiju No. 8 game, means the excess cash balances continue to be slated for deployment to normalise the valuation.

Akatsuki ( AKAFF )(ISIN:JP3107000006) has reasonable results, consistent with the higher dev costs that would be coming as it ramps up for release of TRIBE NINE, released after the close of the quarter, and for the ramping development of the Kaiju No. 8 game as well. The comps are a bit tough, since Resleriana released towards the end of Q2 last year, supporting growth in the previous quarter as we covered , but now forming a difficult comp for the current Q3....

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