CTW Announces Name Change and Shareholder Approvals at AGM
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
Source: Newsfilter
- Name Change: At the AGM on May 7, 2026, CTW approved a name change from CTW Cayman to CTW, reflecting the company's long-term vision and commitment to the philosophy of 'Change the World' to drive business growth.
- Amended Articles: Shareholders also approved the Second Amended and Restated Memorandum and Articles of Association, aligning the company's governance structure with its global expansion strategy, thereby enhancing transparency and compliance.
- Trading Changes: CTW's Class A ordinary shares will begin trading under the new name 'CTW' on the Nasdaq Capital Market on May 13, 2026, while the ticker symbol and CUSIP number remain unchanged, ensuring ease of trading for investors.
- Business Impact: The name change and amendments are not expected to affect the company's operations or financial condition, but are likely to enhance brand recognition and further solidify CTW's position in the global gaming market.
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About CTW
CTW, formerly CTW Cayman, is engaged in the provision of Web-based gaming platform. It offers players an immersive digital space through its flagship hypertext markup language 5 (HTML5) platform, G123.jp. Its platform showcases a diverse selection of free-to-play games inspired by popular Japanese animations, including Queen’s Blade, So I’m a Spider, So What? and Goblin Slayer. The HTML5-based G123.jp platform removes common barriers to gameplay, such as downloads, installations, and mandatory registrations, ensuring that seamless, instant access is available to players worldwide across different types of devices, including mobile devices beyond just personal computers (PCs). It is mainly engaged in serving game developers as its core customers by providing a comprehensive platform that helps them generate revenue and reach a global audience. It offers intellectual property (IP) resources along with ancillary support, as well as distribution and marketing services, to game developers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CTW Cayman Reports 1H 2023 Financial Results
- Financial Overview: CTW Cayman reported a GAAP EPS of -$0.02 for 1H 2023, with revenue of $40.9 million, reflecting a slight year-over-year decline of 0.7%, indicating challenges in the current market environment.
- Adjusted EBITDA Growth: The adjusted EBITDA reached $4.3 million, representing 10.5% of revenue, which is a 16.0% increase from $3.7 million (9.0% of revenue) in 1H 2025, suggesting improvements in cost control and operational efficiency.
- Revenue Change Analysis: Although overall revenue saw a slight decline, the increase in adjusted EBITDA reflects a positive shift in profitability, potentially providing confidence to future investors regarding the company's financial health.
- Future Outlook: CTW Cayman's financial performance demonstrates resilience amid adverse market conditions, and it will be crucial to monitor how the company further optimizes operations to navigate ongoing market challenges.
See More
CTW Announces Name Change and Shareholder Approvals at AGM
- Name Change: At the AGM on May 7, 2026, CTW approved a name change from CTW Cayman to CTW, reflecting the company's long-term vision and commitment to the philosophy of 'Change the World' to drive business growth.
- Amended Articles: Shareholders also approved the Second Amended and Restated Memorandum and Articles of Association, aligning the company's governance structure with its global expansion strategy, thereby enhancing transparency and compliance.
- Trading Changes: CTW's Class A ordinary shares will begin trading under the new name 'CTW' on the Nasdaq Capital Market on May 13, 2026, while the ticker symbol and CUSIP number remain unchanged, ensuring ease of trading for investors.
- Business Impact: The name change and amendments are not expected to affect the company's operations or financial condition, but are likely to enhance brand recognition and further solidify CTW's position in the global gaming market.
See More
CTW to Hold Annual Shareholders Meeting on May 7, 2026
- AGM Announcement: CTW will hold its annual general meeting on May 7, 2026, in Tokyo, where shareholders will consider proposals including changing the company name to align with its global brand and Nasdaq ticker, which is expected to enhance brand recognition and market competitiveness.
- Proposal Details: Shareholders will vote on adopting the Second Amended and Restated Memorandum and Articles of Association, with the Board unanimously recommending support for all proposals, indicating transparency and consistency in corporate governance that can bolster investor confidence.
- Shareholder Eligibility: Shareholders of record as of April 8, 2026, are entitled to attend and vote, ensuring the legitimacy of corporate decisions and safeguarding shareholder rights, which further strengthens the trust relationship between the company and its investors.
- Market Position: According to a Frost & Sullivan report, CTW was the largest anime IP-based H5 game platform in the world in 2023, a milestone that not only enhances the company's market position but also lays a solid foundation for future business expansion.
See More
CTW Launches Doraemon Comic Traveler RPG, Available Globally for Immediate Play
- Game Launch: CTW's subsidiary CTW Inc. has officially launched the online RPG Doraemon Comic Traveler based on the beloved manga franchise, allowing players to enjoy it for free on the G123.jp platform, marking a significant expansion in the global gaming market.
- Cultural Impact: As one of the most successful manga and anime franchises worldwide with over five decades of history, Doraemon attracts millions of fans, and CTW's partnership with this iconic IP is expected to drive user growth and revenue enhancement.
- Market Strategy: CEO Ryuichi Sasaki stated that this launch is the company's most significant game release to date, aiming to leverage Doraemon's cross-generational emotional appeal and strong monetization potential to further expand its influence in the U.S. market.
- Global Expansion: With Doraemon's growing presence in the U.S., CTW aims to deepen its commercial footprint in global markets through this game launch, particularly by establishing stronger brand recognition among younger generations.
See More
CTW Launches Doraemon Comic Traveler RPG, Free Access for Global Players
- Game Launch: CTW's subsidiary officially releases Doraemon Comic Traveler, an online RPG based on the beloved manga, available for free on G123.jp, which is expected to attract a large fanbase and enhance user engagement.
- Cross-Platform Playability: The game is accessible on mobile, PC, and tablet devices without the need for registration or app downloads, significantly lowering the entry barrier for users and aiding CTW in expanding its global user base.
- Brand Partnership: CTW's collaboration with the globally recognized IP of Doraemon not only strengthens its market competitiveness but also leverages the franchise's cross-generational emotional appeal to drive further penetration into the U.S. market.
- Market Potential: With Doraemon's growing influence in the U.S., CTW anticipates deepening connections with new generations of fans through this game, thereby achieving long-term commercial growth and enhancing shareholder value.
See More
CTW Reveals Financial Results for Fiscal Year 2025
Financial Performance: CTW Cayman reported a record revenue of $90.4 million for FY25, marking a 32% year-over-year increase, with a notable 41% growth in the second half of the fiscal year. The company also achieved a net income of $3.8 million and an Adjusted EBITDA of $8.0 million.
Game Launches and Pipeline: During FY25, CTW launched seven new games, including popular titles like "So I'm a Spider, So What? Ruler of the Labyrinth," contributing $32.3 million in revenue. The company has a robust pipeline for FY26, with 24 games in backlog.
Market Expansion: The company is focusing on expanding its user base beyond Japan, with international users accounting for 30% of revenue in FY25, up from 19% the previous year. This reflects a growing global interest in anime-based games.
Strategic Investments: CTW has made significant investments in R&D and personnel to enhance scalability and AI capabilities, particularly in North America, which is seen as a key growth market for the company moving forward.
See More
CTW Cayman Reports 1H 2023 Financial Results
- Financial Overview: CTW Cayman reported a GAAP EPS of -$0.02 for 1H 2023, with revenue of $40.9 million, reflecting a slight year-over-year decline of 0.7%, indicating challenges in the current market environment.
- Adjusted EBITDA Growth: The adjusted EBITDA reached $4.3 million, representing 10.5% of revenue, which is a 16.0% increase from $3.7 million (9.0% of revenue) in 1H 2025, suggesting improvements in cost control and operational efficiency.
- Revenue Change Analysis: Although overall revenue saw a slight decline, the increase in adjusted EBITDA reflects a positive shift in profitability, potentially providing confidence to future investors regarding the company's financial health.
- Future Outlook: CTW Cayman's financial performance demonstrates resilience amid adverse market conditions, and it will be crucial to monitor how the company further optimizes operations to navigate ongoing market challenges.
See More
CTW Announces Name Change and Shareholder Approvals at AGM
- Name Change: At the AGM on May 7, 2026, CTW approved a name change from CTW Cayman to CTW, reflecting the company's long-term vision and commitment to the philosophy of 'Change the World' to drive business growth.
- Amended Articles: Shareholders also approved the Second Amended and Restated Memorandum and Articles of Association, aligning the company's governance structure with its global expansion strategy, thereby enhancing transparency and compliance.
- Trading Changes: CTW's Class A ordinary shares will begin trading under the new name 'CTW' on the Nasdaq Capital Market on May 13, 2026, while the ticker symbol and CUSIP number remain unchanged, ensuring ease of trading for investors.
- Business Impact: The name change and amendments are not expected to affect the company's operations or financial condition, but are likely to enhance brand recognition and further solidify CTW's position in the global gaming market.
See More
CTW to Hold Annual Shareholders Meeting on May 7, 2026
- AGM Announcement: CTW will hold its annual general meeting on May 7, 2026, in Tokyo, where shareholders will consider proposals including changing the company name to align with its global brand and Nasdaq ticker, which is expected to enhance brand recognition and market competitiveness.
- Proposal Details: Shareholders will vote on adopting the Second Amended and Restated Memorandum and Articles of Association, with the Board unanimously recommending support for all proposals, indicating transparency and consistency in corporate governance that can bolster investor confidence.
- Shareholder Eligibility: Shareholders of record as of April 8, 2026, are entitled to attend and vote, ensuring the legitimacy of corporate decisions and safeguarding shareholder rights, which further strengthens the trust relationship between the company and its investors.
- Market Position: According to a Frost & Sullivan report, CTW was the largest anime IP-based H5 game platform in the world in 2023, a milestone that not only enhances the company's market position but also lays a solid foundation for future business expansion.
See More
CTW Launches Doraemon Comic Traveler RPG, Available Globally for Immediate Play
- Game Launch: CTW's subsidiary CTW Inc. has officially launched the online RPG Doraemon Comic Traveler based on the beloved manga franchise, allowing players to enjoy it for free on the G123.jp platform, marking a significant expansion in the global gaming market.
- Cultural Impact: As one of the most successful manga and anime franchises worldwide with over five decades of history, Doraemon attracts millions of fans, and CTW's partnership with this iconic IP is expected to drive user growth and revenue enhancement.
- Market Strategy: CEO Ryuichi Sasaki stated that this launch is the company's most significant game release to date, aiming to leverage Doraemon's cross-generational emotional appeal and strong monetization potential to further expand its influence in the U.S. market.
- Global Expansion: With Doraemon's growing presence in the U.S., CTW aims to deepen its commercial footprint in global markets through this game launch, particularly by establishing stronger brand recognition among younger generations.
See More
CTW Launches Doraemon Comic Traveler RPG, Free Access for Global Players
- Game Launch: CTW's subsidiary officially releases Doraemon Comic Traveler, an online RPG based on the beloved manga, available for free on G123.jp, which is expected to attract a large fanbase and enhance user engagement.
- Cross-Platform Playability: The game is accessible on mobile, PC, and tablet devices without the need for registration or app downloads, significantly lowering the entry barrier for users and aiding CTW in expanding its global user base.
- Brand Partnership: CTW's collaboration with the globally recognized IP of Doraemon not only strengthens its market competitiveness but also leverages the franchise's cross-generational emotional appeal to drive further penetration into the U.S. market.
- Market Potential: With Doraemon's growing influence in the U.S., CTW anticipates deepening connections with new generations of fans through this game, thereby achieving long-term commercial growth and enhancing shareholder value.
See More
CTW Reveals Financial Results for Fiscal Year 2025
Financial Performance: CTW Cayman reported a record revenue of $90.4 million for FY25, marking a 32% year-over-year increase, with a notable 41% growth in the second half of the fiscal year. The company also achieved a net income of $3.8 million and an Adjusted EBITDA of $8.0 million.
Game Launches and Pipeline: During FY25, CTW launched seven new games, including popular titles like "So I'm a Spider, So What? Ruler of the Labyrinth," contributing $32.3 million in revenue. The company has a robust pipeline for FY26, with 24 games in backlog.
Market Expansion: The company is focusing on expanding its user base beyond Japan, with international users accounting for 30% of revenue in FY25, up from 19% the previous year. This reflects a growing global interest in anime-based games.
Strategic Investments: CTW has made significant investments in R&D and personnel to enhance scalability and AI capabilities, particularly in North America, which is seen as a key growth market for the company moving forward.
See More
