Cover Corp. posts 35% profit rise as hololive Dreams beats forecasts

Cover Corp. reported on November 11 its cumulative second-quarter results for the fiscal year ending March 2027, covering April to September 2026, according to gamebiz.jp. Sales for the six months fell 3.6% year-on-year to 20.981 billion yen, while operating profit rose 35.0% to 3.598 billion yen.

Ordinary profit climbed 31.7% to 3.52 billion yen, and net profit rose 22.0% to 2.439 billion yen.

The licensing and tie-up segment was the strongest performer, with sales of 4.863 billion yen, up 49.9% year-on-year. Cover attributed the gain to revenue related to the smartphone game hololive Dreams, which it said greatly exceeded initial expectations after launching simultaneously worldwide in the second quarter.

Other segments declined. Merchandising sales dropped 14.5% to 9.985 billion yen, the distribution and content segment fell 8.4% to 4.099 billion yen, and the live and event segment fell 13.7% to 2.032 billion yen.

Cover left its full-year forecast for the fiscal year ending March 2027 unchanged, keeping sales at 51.35 billion yen and operating profit at 7 billion yen.

Earlier in the year

In the first quarter, the secret society holoX held its first offline live and Shishiro Botan's game event Shishiro Cup was held offline for the first time. In the second quarter, hololive English 4th Concert -Serendipity- took place in Los Angeles and Momosuzu Nene held her first solo live. For the fiscal year ended March 2026, Cover reported sales of 49.33 billion yen, operating profit of 7.056 billion yen and net profit of 3.016 billion yen.