Key insights
6 takeaways · ~2 min read- 01GREE Inc. exceeded Q3 FY2021 forecasts with ¥13.9 billion in net sales, ¥1.7 billion in operating income, and ¥1.9 billion in EBITDA.See it on page 1
- 02Operating income grew by ¥1.2 billion quarter-over-quarter, bolstered by the successful January 20 launch of 'Assault Lily: Last Bullet' and a ¥0.9 billion reduction in operating costs.See it on page 1
- 03The company is executing a shareholder return strategy, having completed 60% of its ¥12 billion stock repurchase program and projecting an FY2021 dividend of ¥11 per share.See it on page 2
- 04Management maintains a positive outlook for the remainder of the fiscal year, forecasting Q4 operating income of approximately ¥1 billion and overall growth in full-year net and operating income.See it on page 1
- 05The 'Assault Lily: Last Bullet' title reached 16th in app-sales rankings, supporting a pipeline that includes two to three new in-house titles annually and upcoming releases like 'That Time I Got Reincarnated as a Slime'.See it on page 2
- 06The REALITY platform continues to scale through expanded avatar gacha offerings, user events, and targeted advertising campaigns.See it on page 3
Summary
The briefing presents FY2021 third‑quarter financial results for GREE Inc., highlighting a net sales figure of ¥13.9 billion, operating income of ¥1.7 billion and EBITDA of ¥1.9 billion, all exceeding forecasts. Operating income rose by ¥1.2 billion from the prior quarter to ¥1.72 billion, driven by strong performance of the newly released title “Assault Lily: Last Bullet” and cost‑control measures that reduced variable costs, royalties, and fixed labor and outsourcing expenses by ¥0.9 billion to a total cost of ¥12.2 billion.
Key operational developments include the launch of “Assault Lily: Last Bullet” on January 20, its rapid climb to 16th in app‑sales rankings, and the planned release of “That Time I Got Reincarnated as a Slime” later in 2021. The company maintains a pipeline of two to three new in‑house titles annually, with additional IP collaborations such as “SINoALICE” and “DanMachi.” Live‑entertainment activities on the REALITY platform expanded through new avatar gacha offerings and user events, while advertising campaigns continued to energize communities.
Financial outlook remains positive: operating income for Q4 is projected at roughly ¥1 billion, and full‑year FY2021 forecasts anticipate growth in both operating income and net income. Dividend policy targets a 2 % distribution of earnings, with an FY2021 payout forecast of ¥11 per share. Stock repurchase activity has reached 60 % of a planned upper limit of ¥12 billion, underscoring management’s commitment to shareholder value.
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