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Overview

Information & Communication

GALA INCORPORATED

GALA Inc. is a diversified digital entertainment and technology holding company operating across four core segments: Games & Apps (online games, HTML5 games, and smartphone/tablet applications developed and operated primarily through its Korean subsidiary Gala Lab Corp.), Metaverse (virtual campus platforms for educational institutions via Meta Campus), VFX (visual effects and digital intermediate production for films and commercials through ROAD101 Co., Ltd. in Korea), and Treehouse Resort (unique treehouse accommodation in Japan and Cambodia through subsidiary Treeful). The company also provides cloud-related support services in Japan in partnership with Korea's Megazone Group. GALA's competitive strength lies in its multi-segment portfolio spanning digital content and experiential offline businesses, with operations spanning Japan, Korea, and Cambodia.

Market Cap

¥5.33B

US$34.0M

¥6.26B

US$39.9M

Stock¥190▲+0.53%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

18.6

LTM EV/EBIT

24.1

LTM PER

LTM PBR

7.6

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-40.1%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

37%

63%

EquityD/E 1.71xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 59.9%

as of 2026-06-30 · Source: Annual Securities Report

Megazone Cloud Corporation (Standing Proxy: Leading Securities Co.,Ltd)

36.04%

Akira KIKUKAWA

15.03%

Rakuten Securities, Inc.

2.74%

SBI SECURITIES Co., Ltd.

1.39%

KOREA SECURITIES DEPOSITORY-SAMSUNG (Standing Proxy: Citibank, N.A., Tokyo Branch)

1.06%

KSD-MIRAE ASSET SECURITIES (CLIENT; Standing Proxy: Citibank, N.A., Tokyo Branch)

1.01%

Hiroyuki INOUE

0.88%

INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)

0.72%

SOCIETE GENERALE PARIS (Standing Proxy: Societe Generale Securities Japan Limited)

0.51%

Arata KENJO

0.49%

Management

17 officers

Hyeon-su KIM

Representative Director, Group CEO

Dec 2000 Joined Wizard Soft Nov 2003 Joined BuddyBuddy Co., Ltd. Apr 2007 Joined Gala Networks Europe Ltd. Jul 2010 CTO, Gala Networks Europe Ltd. Jul 2011 Group CTO, the Company Aug 2011 Head of Korea Office, the Company Oct 2011 Director, Gala Lab Corp. Apr 2012 COO, Gala Lab Corp.; Director, Gala Pocket Inc. (currently Gala Japan Inc.) Jun 2012 Director and Group CTO, the Company; Representative Director and CEO, Gala Lab Corp. (current) Aug 2012 Director, Group CTO and Group CDO, the Company May 2013 Director, Gala Japan Inc. (current) Jun 2013 Director, the Company Jun 2023 Representative Director, Group COO, the Company Sep 2023 Representative Director, Group CEO, the Company (current) Director, ROAD101 Co., Ltd. (current) Mar 2024 Chairman, Gala Innovative Inc. (current)

1980-09-05

Akira KIKUKAWA

Chairman of the Board, Director

Apr 1988 Joined Hakuhodo Inc. Sep 1993 Founded Gala Inc.; Representative Director and President Oct 2001 Director, Gala Web Inc. May 2004 CEO & President, Gala-Net Inc. Mar 2006 Chairman, Representative Director, Aeonsoft Inc. (currently Gala Lab Corp.) Jun 2006 Representative Director, Chairman and Group CEO, the Company Oct 2006 CEO, Gala Networks Europe Ltd. Dec 2006 Chairman, Representative Director, nFlavor Corp. (currently Gala Lab Corp.) Apr 2007 Director, Gala Mobile Inc. (currently Gala Japan Inc.) Aug 2007 Chairman, Gala-Net Inc. Dec 2007 Director, Gala Buzz Inc. May 2008 Chairman, Gala Networks Europe Ltd.; Representative Director and Chairman, Gala Japan Inc. Jun 2008 Representative Director, Group CEO, the Company; Representative Director and Chairman, Gala Buzz Inc. Jun 2010 Director, Gala-Net Brazil Ltd. Apr 2012 Representative Director and CEO, Gala Pocket Inc. (currently Gala Japan Inc.) Oct 2012 Chairman, Gala Innovative Inc. Oct 2014 Director, Gala Connect Inc. Sep 2015 Director, Gala Mix Inc. (current) Apr 2021 Representative Director, Treeful Co., Ltd. (current) Sep 2023 Representative Director and Chairman, the Company Nov 2023 Chairman, TREEFUL (CAMBODIA) Co., Ltd. (current) Mar 2024 Director and Chairman of the Board, the Company (current) Chairman of the Board, Gala Lab Corp. (current) Director and Chairman of the Board, Gala Japan Inc. (current)

1965-07-04

Jiye KIM

Director, CSO

Aug 2001 Joined GAIAX Co., Ltd. Nov 2002 Representative Director, GAIAX Korea Co., Ltd. Mar 2005 Director, Two Rise Co., Ltd. Apr 2005 Director, Gala Mobile Inc. (currently Gala Japan Inc.) Mar 2009 Representative Director, Gala Japan Inc. May 2009 Representative Director and CEO, Gala Japan Inc. (current) Jun 2009 Director, the Company Sep 2011 Director, Gala Lab Corp. (current) Apr 2012 Director, Gala Pocket Inc. (currently Gala Japan Inc.) Sep 2023 Director, ROAD101 Co., Ltd. (current) Mar 2024 Director and CSO, the Company (current)

1978-10-04

Nicola PAJO

Director

Apr 2001 Joined France Telecom S.A. Apr 2007 Joined Gala Networks Europe Ltd. Aug 2009 COO, Gala Networks Europe Ltd. Jun 2012 Director, the Company (current) Feb 2013 CEO, Gala Networks Europe Ltd. (currently Webzen Dublin Ltd.) Sep 2015 Representative Director and CEO, Gala Mix Inc. (current)

1977-05-24

Ichiro OGASAWARA

Director, CFO

Dec 2004 Joined KPMG AZSA LLC Jul 2008 Registered as Certified Public Accountant Jul 2011 Head, Ichiro Ogasawara CPA and Tax Accountant Office (current) Sep 2011 Representative Director, KandO Co., Ltd. (current) Sep 2025 Executive Officer and CFO, the Company (current) Mar 2026 Director and CFO, the Company

1981-08-09

Hyeon-u JEONG

Director

Dec 2013 Registered as Attorney in Washington, D.C. Feb 2015 Joined Yoon & Yang LLC Jan 2016 Joined Central Law Firm Mar 2019 Director and General Counsel, Megazone Cloud Corporation (current) Jun 2020 Director, the Company Jun 2022 Director, the Company (current)

1979-10-08

Dong-yeon WON

Director

Jul 1999 Team Leader, Crystal International Mar 2001 Director, Megazone Corporation Jan 2016 CEO, Cloud Security (current) Jan 2022 Executive Vice President, Megazone Cloud Corporation (current) Sep 2023 Co-Representative Director and CEO, ROAD101 Co., Ltd. (current) Mar 2024 Director, the Company (current)

1980-05-06

Sang-hun CHA

Outside Director

Jan 2002 Vice President and CMO, Megazone Corporation (current) Mar 2024 Outside Director, the Company (current)

1980-05-31

Ju-yeong LEE

Outside Director

Apr 2004 Joined Megazone Corporation Dec 2007 Joined KY Media Jul 2011 Joined Gala Lab Corp. Dec 2015 Joined Megazone Cloud Corporation Oct 2019 Director, MEGAZONE Inc. Mar 2024 Director, Megazone Cloud Corporation (current) Mar 2024 Vice President, MEGAZONE Inc. (current) Mar 2024 Outside Director, the Company (current)

1983-08-20

Hyeon-jun JEONG

Outside Director

Jul 2020 Director, Management Planning Department, Allyeon Corporation Apr 2021 Joined Megazone Cloud Corporation, Manager, Strategic Planning Department (current) Mar 2024 Outside Director, the Company (current)

1995-09-22

Hwa-yeon SON

Outside Director

Jul 2013 Tax Specialist, Korea Gas Corporation Dec 2014 Registered as Certified Public Accountant in Korea Apr 2015 Manager, KPMG Samjong Accounting Corp. May 2018 Team Leader, Strategic Planning, Polus Inc. Jul 2019 Head of Finance & Accounting, Megazone Cloud Corporation (current) Mar 2025 Outside Director, the Company (current)

1984-04-16

Sang-uk PARK

Outside Director

Jan 2009 Joined NEXON Korea Corporation Jan 2011 Joined KT Corp. Apr 2014 Founded CLOUDNOA Corp.; Representative Director Jan 2025 Managing Director, Megazone Cloud Corporation (current) Mar 2025 Outside Director, the Company (current)

1978-11-27

Changhoon OH

Director

Jan 2005 Joined Hanon Systems Corporation Nov 2010 Joined Mando Corporation Nov 2018 Joined Jeongse Law Firm Jul 2021 Megazone Cloud Corporation (current) Mar 2026 Director, the Company (current)

1979-08-27

Darren KIM

Outside Director

Feb 2014 Joined Standard Chartered Bank; Chief Credit Officer (CCO), North East Asia Nov 2015 Concurrently CCO for Corporate, Institutional and Commercial Risk in Korea, CCO of Tokyo Branch, and Chief Risk Officer (CRO) of Standard Chartered Bank Korea Jul 2017 CRO and CCO, Greater China and North East Asia (GCNA), Standard Chartered Bank Jun 2019 Director, Standard Chartered Bank Hong Kong subsidiary Jan 2021 CRO for Asia, Standard Chartered Bank (current) CRO for Europe and Americas, Standard Chartered Bank Mar 2026 Outside Director, the Company (current)

1974-05-18

Atsushi SHIMIZU

Full-time Audit & Supervisory Board Member

Apr 1992 Joined Deloitte Touche Tohmatsu LLC Apr 1995 Registered as Certified Public Accountant Oct 2006 Representative Director, Shimizu International Management Research Institute Co., Ltd. (currently CaN Accounting Advisory Co., Ltd.) (current) Oct 2009 Representative Partner, Sankyo Audit Corporation (currently Kaede Audit Corporation) Jun 2012 Outside Audit & Supervisory Board Member, the Company (current)

1968-08-17

Norihiko KIM

Outside Audit & Supervisory Board Member

Dec 2007 Registered as Attorney (Second Tokyo Bar Association); joined Hikari Sogo Law Office Jan 2010 Joined Orbis Law Corporation; joined Hwawoo Law Firm (Korea) Jan 2011 Joined Shinhan Bank (Korea) Jul 2011 Joined Kim & Chang (Korea) Jul 2012 Joined Kwangjang Law Firm (Korea) Jan 2013 Returned to Orbis Law Corporation Mar 2014 Director, Stream Media Corporation (current) Dec 2014 Representative, Orbis Law Corporation Tokyo Office (current) Aug 2019 Director, Tomorrow Net Co., Ltd. Jul 2022 Audit & Supervisory Board Member, INSPA Co., Ltd. (current) Mar 2026 Outside Audit & Supervisory Board Member, the Company (current)

1976-11-09

Hiroki KAWATE

Audit & Supervisory Board Member

Oct 1994 Director, the Company Dec 1999 Representative Director, R.I.S. Co., Ltd. (In Feb 2000 the Company acquired all shares of R.I.S. Co., Ltd., making it a wholly owned subsidiary, and renamed it Gala Web Inc.) Jun 2010 Retired as Director, the Company May 2015 Representative Director, Grandscape Co., Ltd. (current) Jul 2015 Retired as Representative Director, Gala Web Inc. (currently Tribeck Professional Services Co., Ltd.) Jun 2019 Audit & Supervisory Board Member, the Company (current)

1967-11-10

Large Shareholding Reports

Megazone Cloud Corporation

2026-09-04

36.04%→19.99%

Akira KIKUKAWA

2026-06-18

16.22%→15.20%

Annual report (as of 2026-06-30): 15.03%

Akira KIKUKAWA

2026-01-08

16.22%→16.22%

Annual report (as of 2026-06-30): 15.03%

Akira KIKUKAWA

2025-12-12

20.21%→16.22%

Annual report (as of 2026-06-30): 15.03%

Megazone Cloud Corporation

2025-12-12

32.84%→36.04%

Megazone Cloud Corporation

2025-09-17

32.84%→32.84%

Akira KIKUKAWA

2025-09-17

20.21%→20.21%

Annual report (as of 2026-06-30): 15.03%

Disclosures

No disclosures

Primary Source Filings

EDINETAmended

2026-10-16

Amended Annual Securities Report

Period: Jan 2025 – Dec 2025

GALA INCORPORATED

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GALA INCORPORATED

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