FinancialGREE
FY2021 Fourth Quarter Financial Results
1 Aug 202137 pages~14 min full read
GREE reported FY2021 net sales of ¥56.8 billion and operating income of ¥5.4 billion, supported by a strong balance sheet with ¥141.4 billion in total assets and ¥86.8 billion in net cash.
Overseas coin consumption grew by 54%, helping offset a year-over-year decline in total coin consumption from ¥14.0 billion to ¥11.7 billion.
The company’s investment and incubation segment has generated approximately ¥13 billion in cumulative profit, serving as a key pillar for revenue diversification.
GREE is prioritizing the Metaverse platform REALITY and the development of two to three in-house game titles annually to drive future growth.
Shareholder returns for the period included a ¥9.9 billion stock repurchase and a dividend increase to ¥12.5 per share.
The organization maintains a stabilized workforce of approximately 1,600 employees while targeting a return on equity of 10% or higher.
GREE achieved a significant financial turning point in fiscal year 2021, reporting net sales of ¥56.8 billion and operating income of ¥5.4 billion. This growth was largely propelled by the global expansion of the game business, highlighted by a 54% increase in overseas coin consumption. Despite a general downward trend in total coin consumption from 14.0 billion to 11.7 billion yen year-over-year—primarily due to fluctuations in smartphone app engagement—the company successfully strengthened its balance sheet. Total assets rose to ¥141.4 billion with a robust net cash position of ¥86.8 billion, supported by a strategic reduction in quarterly operating costs and a stabilized workforce of approximately 1,600 employees.
The corporate strategy centers on three primary pillars: the foundational game business, the scaling advertising and media sector, and the emerging Metaverse platform, REALITY. To ensure long-term sustainability, the company intends to release two to three in-house game titles annually while aggressively investing in Metaverse functionality, such as the "World" feature. Furthermore, the investment and incubation segment has proven highly effective, generating roughly ¥13 billion in cumulative profit. These diversified revenue streams are intended to provide a stable earnings base while the company pursues a target return on equity of 10% or higher.
Shareholder value remains a core priority, evidenced by a ¥9.9 billion stock repurchase and an increased dividend of ¥12.5 per share. By balancing aggressive investment in high-growth areas like the Metaverse with disciplined cost management in its traditional segments, the organization aims to transition from a period of stabilization to one of sustained global expansion. The focus for the upcoming period remains on strengthening international distribution and scaling vertical media portfolios to capitalize on shifting digital consumption patterns.
