CTW Cayman filings document a foreign private issuer that reports on Form 20-F and furnishes current reports on Form 6-K. The company’s filings cover financial-results releases, supplemental materials, investor presentations and operating disclosures tied to its G123.jp HTML5 game platform and anime IP-based free-to-play game distribution business.
Regulatory documents also include annual general meeting notices, proxy materials, shareholder voting matters, amendments to governing documents and auditor-change disclosures. These filings record governance procedures, board and audit-committee actions, independent registered public accounting firm changes, risk statements and capital-market communications for CTW’s Nasdaq-listed ordinary shares.
CTW’s preliminary F-3 describes a primary shelf for up to US$100,000,000 in securities; after effectiveness, CTW may sell up to US$2,000,000 aggregate offering price of Class A ordinary shares through an at-the-market sales agreement, within that shelf. Other shelf securities may include debt securities, warrants, subscription rights and units, with terms set in later supplements. A.G.P./Alliance Global Partners is the sales agent; sales may occur in market or negotiated transactions, including block trades, and its commission may be up to 3.0% of gross sales price. The agent is not required to sell any specific amount.
After effectiveness, CTW (BVI) Ltd may separately resell up to 10,000,000 Class A ordinary shares, held directly or convertible from Class B ordinary shares; CTW receives no proceeds from those resales. CTW reports a public float of approximately US$7.2 million as of October 23, 2026, with a Form F-3 limit of one-third of aggregate market value for primary offerings in any 12-month period while the float is below US$75,000,000. Ryuichi Sasaki, CTW’s founder and chairman, beneficially owns 96.0% of its total outstanding share capital and will be able to exercise 98.5% of its total voting power.
CTW reported a net loss of approximately US$4.1 million for fiscal 2026, compared with net income of approximately US$3.8 million in fiscal 2025. Net cash used in operating activities was US$3,156,993 in fiscal 2026, compared with US$111,375 provided in fiscal 2025. Capital expenditures totaled approximately US$4.7 million in fiscal 2026.
At July 31, 2026, CTW had approximately US$14.4 million in cash and cash equivalents and US$7.5 million in net working capital. Its August 2025 IPO of 2,400,000 Class A ordinary shares at US$5.00 per share generated US$12.0 million in gross proceeds; net cash proceeds after all cash offering costs were approximately US$9.4 million. Vivid Army contributed 20.2% of fiscal 2026 net revenue. Additional developer advances of up to approximately US$4.8 million were conditional on contractual milestones, including delivery and launch; US$0.6 million was paid under these arrangements in August 2026.
CTW reported FY26 results for the year ended July 31, 2026: revenue fell 9% to $82.5 million from $90.4 million, while gross in-game purchases declined 10% to $96.8 million. Net loss was $4.1 million versus FY25 net income of $3.8 million. Adjusted EBITDA, a non-GAAP measure, was $3.5 million versus $8.0 million.
Monthly active users fell 33% to 2.26 million, while paying monthly active users rose 0.6% to 89,053; paying users represented 3.95% of MAUs versus 2.62%, and ARPMAU rose 35% to $3.57. International revenue increased 8% to $29.7 million, or 36% of revenue. Segment profits increased 3% to $32.3 million as lower advertising expense offset lower in-game purchases and higher server costs.
Cash and cash equivalents were $14.4 million as of July 31, 2026, and CTW had no debt. FY26 net cash used in operating and investing activities was $3.2 million and $4.7 million, partly offset by $10.6 million in net IPO proceeds. Management said FY27 priorities include broadening the active user base and increasing how often players return and spend.
CTW reported that Chief Financial Officer Liu Zhixian received a grant of stock options on 2026-08-07. The award covers 100,000 stock options, each exercisable for one Class A ordinary share at an exercise price of $2.48 per share, expiring on 2036-08-06. Following this grant, Liu holds 100,000 stock options directly.
CTW Cayman Chief Technology Officer Tong Hairihan reported a combined option exercise and related share sale. Tong exercised 800 stock options for Class A ordinary shares at $1.75 per share, acquiring the same number of shares.
In a broker-assisted cashless exercise, 669 Class A ordinary shares were sold at an average price of $2.21 per share solely to cover the exercise price, according to the footnote. Following these transactions, Tong holds 131 Class A ordinary shares directly and 116,221 stock options remain outstanding after the exercise.
CTW reported essentially flat revenue but a swing to loss for the six months ended January 31, 2026. Revenue was $40.9 million, down 0.7% year over year, mainly from yen depreciation, while Japan still contributed 68.4% of sales and overseas markets 31.6%.
Net results shifted from $0.6 million of profit to a $1.2 million loss as cost of revenue rose 39.6% to $13.9 million and general and administrative and R&D expenses increased, partly from share-based compensation and higher staffing and infrastructure costs. Sales and marketing expenses fell 15.2% to $22.0 million as advertising was cut back.
Key user metrics showed lower overall activity but stronger monetization: monthly active users dropped from 3.27 million to 1.98 million, yet ARPPDAU rose from $16.31 to $18.19 and ARPMAU from $2.50 to $4.08, and ROAS improved to 109.29%. Cash and cash equivalents increased to $19.5 million, helped by $10.6 million of IPO proceeds, leaving working capital of about $9.2 million and management expecting existing resources to cover at least the next 12 months.
CTW reported first-half fiscal 2026 results showing nearly flat top-line but materially higher profitability at the operating level. Revenue slipped 1% year over year to $40.9 million, as softer monetization from new titles and normal aging of legacy games weighed on performance.
Despite this, segment profit rose 55% to $18.0 million, helped by sharply lower advertising spend and reduced revenue share with developers and IP holders, even as server costs increased. Adjusted EBITDA improved 16% to $4.3 million, or 10.5% of revenue, while the company posted a net loss of $1.2 million, versus net income of $0.6 million a year earlier, largely reflecting higher public company and infrastructure costs.
Key operating metrics were mixed: gross in-game purchases edged down to $48.6 million, MAUs declined, and paying user retention softened, but average revenue per paying user and return on ad spend of 109.29% improved. Cash and cash equivalents increased to $19.5 million, supported by IPO proceeds, as CTW invests in new anime-based titles and international expansion, including a New York presence.
CTW reported that shareholders approved all resolutions at the annual general meeting held in Tokyo on May 7, 2026. The company’s corporate name was formally changed to “CTW,” and a second amended and restated memorandum and articles of association was adopted to replace the prior version in full.
The Class A ordinary shares are expected to begin trading under the new corporate name “CTW” on the Nasdaq Capital Market on May 13, 2026, while the ticker symbol CTW and CUSIP number remain the same. The company states that no action is required from shareholders and the name change is not expected to affect its business operations or financial condition.
CTW Cayman plans to hold its annual general meeting on May 7, 2026 at 10:00 AM in Tokyo. Shareholders of record as of April 8, 2026 may attend and vote.
Owners will consider changing the corporate name to CTW, adopting a Second Amended and Restated Memorandum and Articles of Association, and authorizing related implementation actions. The board unanimously recommends voting in favor of all resolutions. The new charter reflects an authorized share capital of US$50,000, divided into 500,000,000 shares of US$0.0001 par value, including Class A and Class B ordinary shares with different voting rights.
CTW Cayman director Hattori Naoto filed an initial Form 3, which serves as a baseline report of his status as an insider of the company. The provided data does not list any transactions, share holdings, or derivative positions for him in this filing.