Updated Jun 25, 2026 by GREE
GREE reported Q3 FY2023 net sales of ¥22.2 billion, representing a 15.7% QoQ increase and a 23.8% YoY growth compared to the same period in FY2022.
Operating income reached ¥4.2 billion, a 15.8% QoQ increase driven by the Investment and Incubation Business (¥2.4 billion) and the Internet and Entertainment Business (¥1.8 billion).
Flagship title *Heaven Burns Red* drove significant performance, achieving No. 1 sales rankings in Japan and international markets following its one-year anniversary and February 2023 global expansion.
Total costs rose to ¥17.93 billion, with advertising expenses increasing to ¥3.08 billion due to promotional investments and commission fees climbing to ¥4.11 billion.
The company’s investment arm maintains ¥75.0 billion in AUM, reporting strong long-term returns with a 23% IRR for Fund of Funds (FoF) and 20% IRR for Corporate Venture Capital (CVC).
GREE maintains a dividend policy targeting a minimum 20% payout ratio, with a planned per-share dividend of ¥11 for FY2023.
The company is expanding its Metaverse Business through the REALITY XR cloud platform and the FIRST STAGE PRODUCTION VTuber agency, while projecting stable income despite a potential profit decline compared to FY2022.
GREE reported Q3 FY2023 net sales of ¥22.2 billion, representing a 15.7% QoQ increase and a 23.8% YoY growth compared to the same period in FY2022.
Operating income reached ¥4.2 billion, a 15.8% QoQ increase driven by the Investment and Incubation Business (¥2.4 billion) and the Internet and Entertainment Business (¥1.8 billion).
Flagship title *Heaven Burns Red* drove significant performance, achieving No. 1 sales rankings in Japan and international markets following its one-year anniversary and February 2023 global expansion.
Total costs rose to ¥17.93 billion, with advertising expenses increasing to ¥3.08 billion due to promotional investments and commission fees climbing to ¥4.11 billion.
The company’s investment arm maintains ¥75.0 billion in AUM, reporting strong long-term returns with a 23% IRR for Fund of Funds (FoF) and 20% IRR for Corporate Venture Capital (CVC).
GREE maintains a dividend policy targeting a minimum 20% payout ratio, with a planned per-share dividend of ¥11 for FY2023.
The company is expanding its Metaverse Business through the REALITY XR cloud platform and the FIRST STAGE PRODUCTION VTuber agency, while projecting stable income despite a potential profit decline compared to FY2022.