Cave, the developer behind the DoDonPachi series, announced on April 13 that it expects to raise approximately 95 million yen (about $597,000 USD) through a third-party allotment of shares, according to automaton-media.com.
Natsuko Yoshinari, the chairwoman of Cave’s board of directors and the company’s largest shareholder, will provide the capital by purchasing 145,000 new shares.
Yoshinari offered to contribute her own funds to support the company’s medium- to long-term growth "at her own risk," the company stated in its announcement.
Pivoting to consoles
The injection of capital arrives as the studio faces significant financial pressure. The company reported an operating loss of 1.009 billion yen (about $6.33 million USD) for the first three quarters of the fiscal year ending May 2026, the outlet reported.
This loss followed the shutdowns of Cave's live-service titles, Meteor Arena Stars and Outrankers. The latter of these games remained active for only three months.
While Cave continues to operate two mobile titles, management acknowledged that the mobile market has become increasingly competitive. The company noted that development costs are soaring and development cycles are growing longer.
To build a new revenue base, Cave is now targeting the global console game market. The developer plans to use the new capital to fund new console projects by leveraging its existing intellectual property and development expertise, according to the announcement.
