KADOKAWA says it has had “too many reincarnations into another world,” but “N Chugaku” and “N High School” are growing rapidly, and “Niconico” is also in the black

KADOKAWA posted a sharp profit decline for fiscal 2026, hit by weak publishing performance.

In contrast, its web services business, including Niconico, and its education business centered on N High and N Middle grew revenue and profit.

The company’s overall earnings were supported by these stronger segments despite the slump in publishing.

Ahead of the shareholder meeting, Oasis Management has proposed removing CEO Takeshi Natsuno, making management accountability a key issue.