Tose published its consolidated financial results for the second half of the fiscal year on April 10. In the six-month period between September 2024 and February 2025, the developer saw a major turnaround in profitability thanks to a 56%+ increase in sales in its game sector (source: GameBiz).
Having developed an undisclosed number of games since its founding in 1979, Tose is one of Japan’s biggest outsourcing studios, with credits on titles from major publishers like Nintendo, Square Enix and Bandai Namco. The company went through a rocky period last year, when the cancellation of multiple game projects from big clients caused irrecoverable losses.
However, things turned for the better in the next fiscal term, as Tose reports receiving an increase in new orders from clients as well as existing development projects growing in scale, resulting in a boost in net sales and operating profit. Interestingly enough, Tose predicted this outcome last year – forecasting that demand for game development will start surging after Nintendo unveils its new console, the Switch 2, bringing “a favorable wind” to the game industry.
Tose’s metrics for the period between September 2025 and February 2025 are as follows:
Net sales: 3,154 million yen (up 56.7% year-on-year)
Operating profit: 319 million yen (compared to loss of 459 million yen in the same period last year)
Ordinary profit: 321 million yen (compared to loss of 451 million yen in the same period last year)
Net profit: 94 million yen (compared to loss of 315 million yen in the same period last year)
It’s worth noting here that Tose’s final net profit has been impacted by an extraordinary loss of around 177 million yen (over $1.2 million USD) related to demolishing and rebuilding its buildings in Japan, which is why the increase in sales is not reflected as much as you’d expect.
