Some sections of MSCI’s website regarding our company have been updated to reflect our actual business status, reporting a gambling-related revenue ratio of 0.17%. However, as certain other pages still incorrectly show a range of 5 to 9.9%, we are continuing to request that these errors be corrected as soon as possible.
(Repost: Q4 of “Frequently Asked Questions and Answers (November 2025)” disclosed on November 27, 2025)
We formally contacted MSCI with a request for correction on October 31, 2025, upon the disclosure of the “Frequently Asked Questions and Answers” on the same day, which was the date we, as a company, officially disclosed the revenue from our amusement poker business (approximately 0.2 billion yen per year ÷ Revenue of 111.7 billion yen for the fiscal year ending on January 31, 2025 = approximately 0.1%).
However, as the incorrect information stating 5% to 9.9% is still stated at present, we are currently continuing to request the quickest possible correction.
The timeline is as follows.
October 31: GENDA formally requested MSCI for correction on the same day we disclosed the “Frequently Asked Questions and Answers.”
November 3: MSCI contacted us, stating the information provided lacked sufficient detail.
November 5: GENDA submitted monthly sales data for the amusement poker business to MSCI.
November 21: The amusement poker revenue data we had submitted was added to our company’s page on MSCI. However, the gambling revenue ratio remains listed as 5 to 9.9%.
November 21: GENDA requested MSCI to correct the erroneous gambling revenue ratio once again.
As of today: Awaiting MSCI’s response.
The incorrect listing of our amusement poker business’s revenue ratio on MSCI has resulted in a situation where some institutional investors, who otherwise would have been considering purchasing our company’s shares, are currently finding it difficult to execute purchases due to restrictions in their investment mandates.
We will strive to ensure that the capital market, including MSCI, accurately understands our company’s business activities.
In addition to the aforementioned situation, we have taken the following actions.
From November 25 to December 9: GENDA conducted four rounds of continuous follow-up with MSCI.
December 16: Due to the lack of response from MSCI, GENDA escalated the matter by reaching out through a different channel than before.
December 24: Due to the lack of response from MSCI, GENDA followed up again through multiple channels, including email and direct phone calls.
MSCI updated certain pages regarding our company and notified GENDA of the change.
GENDA requested MSCI to ensure accurate information is reflected across all relevant pages.
MSCI responded that they will correct the information on all pages as soon as possible.
December 26: GENDA has strongly requested MSCI to promptly correct the pages that remain inaccurate. We will maintain continuous communication with MSCI and all other capital market participants to ensure an accurate understanding of our business activities.