• Momentum building in the Sports segment – MIXI’s Q1–2 FY3/26 results highlight a company in transition. Growth is increasingly driven by the Sports segment, supported by the consolidation of PointsBet Holdings and strong double-digit organic growth in Betting Sports. Underlying profitability in the Sports segment improved to an estimated 5.6% despite one-time acquisition costs. Meanwhile, Digital Entertainment is stable but declining, with an 11.1% sales decline YoY and challenges from falling MAU at ‘MONSTER STRIKE’, reinforcing the need for MIXI to establish a new earnings pillar. Capital allocated to the Sports Betting business should support overseas expansion and leverage the company’s expertise in domestic social betting.
