SNK’s FY2025 update: bigger revenue, deeper losses, and new parent funding
SNK’s financial picture continues to look shaky even as the company keeps shipping fighting-game releases and eyeing long-term retro and franchise plans. Fresh figures for fiscal year 2025 show higher revenue, but deeper losses, alongside a new funding lifeline from its parent—while key leadership changes and major game launches reshaped the company’s recent timeline.
Release and availability snapshot
| Item | Timing | Platforms / Notes |
|---|---|---|
| NeoGeo AES+ | November (year not specified) | Retro hardware; distribution handled by Plaion, not SNK |
| Fatal Fury: City of the Wolves | Launched in 2025 | SNK support highlighted; also tied to SNK’s broader plans |
Revenue up, but losses keep widening
Since SNK left the stock market in May 2022—following a takeover by a subsidiary of the MiSK Foundation, which is controlled by Saudi Crown Prince Mohammed bin Salman—tracking the company’s health hasn’t been straightforward. However, 2025 accounts have been obtained, and the headline number is a partial improvement: for the fiscal year ending in December 2025, SNK’s group revenue rose 10% to 5.7 billion yen (about €30.6 million).
That growth hasn’t translated into profitability. SNK posted an operating loss of 19.9 billion yen (around €107 million) in 2025, along with a net loss of 22.2 billion yen (about €119 million). The situation was even worse than the previous year: in 2024, SNK recorded an operating loss of 12.6 billion yen (about €67.8 million) and a net loss of 12.9 billion yen (around €69.4 million).
The figures also underscore how modest SNK’s sales are relative to other game businesses. For comparison, Remedy Entertainment reportedly generated about twice the revenue over the same period.
Funding boost from the parent company
To address its financial strain, SNK secured a loan from its parent, Electronic Gaming Development Company, a subsidiary of the MiSK Foundation. The total borrowing amount is $40 million, with an interest rate of 7.28%. SNK is expected to repay the loan by October 5, 2029.
The funding follows another cost-cutting move: in November 2025, SNK announced a reduction of its share capital by 8 billion yen. Capital reductions are commonly used to help absorb losses, and it fits the broader pattern of financial pressure shown in the 2024–2025 results.
2025 milestones: a new Fatal Fury, plus leadership change
From a release standpoint, SNK’s 2025 calendar included the launch of Fatal Fury: City of the Wolves. A few weeks later, CEO Kenji Matsubara stepped down, marking a leadership transition shortly after the game’s release.
In parallel with its mainline fighting push, SNK worked with partners including Code Mystics to reintroduce several older titles. The lineup mentioned includes The King of Fighters XIII Global Match, Real Bout Fatal Fury 2: The Newcomers, and Kizuna Encounter: Super Tag Battle, each paired with online play featuring rollback netcode.
What SNK is planning next—where things stand
Looking ahead, SNK’s near- and mid-term direction is described as uncertain. Beyond continuing support for Fatal Fury: City of the Wolves, SNK is said to be planning a new Metal Slug project for the series’ 30th anniversary. Separately, part of the Tekken clan has reportedly re-formed under SNK’s new subsidiary, VS Studio, but that studio is not expected to release a game for several years.
In the shorter term, the most promising bet appears to be the upcoming NeoGeo AES+ announcement and release hype in the retro community. The key detail is commercial responsibility: Plaion will handle the product’s marketing and distribution, not SNK itself.
