AltPlus Inc. — Cyborg Score 3/10

Challenged
Electronic Gaming & Multimedia / Mobile Social Games

Strategic Profile

AltPlus maintains competitive advantage through diversified revenue streams spanning social game development for smartphones, HR solutions for gaming companies, and IT infrastructure services (GIMS). The company supports other gaming studios while developing proprietary titles, creating defensive moat through both consumer-facing and B2B service offerings.

Cyborg Score Rationale

AltPlus faces significant operational headwinds with negative EBITDA (-465M JPY) and consecutive quarters of net losses. The company's market cap has declined 18% over the past week, and persistent unprofitability suggests structural challenges in its business model despite diversified revenue streams.

Top Insights

  • Negative EBITDA of -465M JPY with -16.05% margin indicates operational distress
  • Stock volatility at 11.76% with recent 18% weekly decline signals market loss of confidence
  • Diversified business model (games, HR solutions, IT services) attempts to reduce concentration risk but hasn't driven profitability
  • Small employee base of 199 suggests lean operations or potential underinvestment in growth initiatives

Named Competitors

  • Social Gaming Platform — Major Japanese social game publisher with extensive mobile gaming portfolio
  • Game Development — Japanese mobile game developer and publisher focused on social games
  • Entertainment & Game Publishing — Japanese entertainment company with gaming division operations

Recent Developments

  • (Feb 2026) Earnings release completed with continued negative net income trends
  • (Dec 2025) 199 employees documented with persistent quarterly losses around -96M to -117M JPY

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