Atlus has published its financial statement for the company’s twelfth fiscal term under Sega ownership, which ended on March 31, 2025.
The sales of games released from April 1, 2024 to March 31, 2025 consisted of Shin Megami Tensei V: Vengeance, Persona 3 Reload: Episode Aigis and Metaphor: ReFantazio.
Atlus states that, despite challenges in the consumer game market, the company contributed significantly to the Sega Sammy Group’s profits with the strong performance of the SMT V series and Metaphor: ReFantazio as a new IP.
Fiscal Year Business Overview
Atlus’ 12th fiscal year ranged from April 1, 2024 to March 31, 2025.
Company Market Analysis
In the consumer game market, growth has currently plateaued due to ongoing geopolitical risks and incrementing inflation in various regions. Additionally, game development costs continue to rise because of rising labor costs and longer development cycles, making it urgent to respond to these changes in the business.
On the other hand, diversification in game content delivery and market expansion driven by growth in emerging economies have created an environment where content and services can be delivered over a longer term, across platforms worldwide. Because of this, expectations for continued growth in the game market remain high.
In this business environment, our company was focused on the release of major packaged game titles and licensing, and our performance has remained strong for it.
Packaged Game Business
In the consumer game business, we released the following titles:
- Shin Megami Tensei V: Vengeance
- Persona 3 Reload: Episode Aigis
- Metaphor: ReFantazio
In June 2024, we released Shin Megami Tensei V: Vengeance. To make the game accessible to a wider global audience, unlike with SMT V—which was only available on the Nintendo Switch—this new release was made available on multiple platforms including PC, Xbox, and PS5. As a result, it achieved total worldwide sales of 500k units within just three days of release.
With this, the SMT V series has reached a cumulative total of 2.11 million units sold worldwide, receiving high praise. [This sales number corroborates the previously leaked sales data from Sega.] Additionally, Metaphor: ReFantazio, which released in October of the same year, achieved global cumulative sales of 2 million units despite being a completely new IP. At The Game Awards 2024 held in December 2024, the title was nominated in six categories, including “Game of the Year,” and won three awards:
- Best RPG
- Best Narrative
- Best Art Direction
Licensing Business
In June 2024, to commemorate the 35th anniversary of the Atlus brand, we held Atlus Fes. Over 20k people attended the event, which feature hands-on demos of SMT V: Vengeance and Metaphor: ReFantazio, massive character statues on display, and special stage events. The large turnout provided a valuable opportunity for many attendess to experience the appeal of Atlus IPs firsthand.
We held the large-scale exhibition called “Metaphor: ReFantazio The Exhibition” in Tokyo in March 2025. The event featured booths faithfully recreating the game’s world, exhibits of never-before-seen art, and sales of exhibition-exclusive merchandise.
In music licensing, we held the Persona Live Tour 2024 -more ahead- concert. Notably, the Taiwan performance marked the first-ever Persona live concert held overseas, offering an opportunity for many to experience the appeal of the franchise’s music.
Profits & Losses
As a result of these business activities, net profit for the fiscal year ending March 2025 amounted to approximately 850 million yen, making a significant contribution to the Sega Sammy Group’s consolidated earnings.
Additionally, the balance sheet shows a high level of financial soundness, with an equity ratio of 65.47% and a current ratio of 247.77%.
Atlus concludes that it believes its mission is to continue to develop games that will please its customers, and continue to contribute to the Group’s performance.