GREE's consolidated financial results for Q3 FY24 show net sales of ¥17.2 billion and operating profit of ¥2.5 billion, achieving QoQ growth in both sales and profit and surpassing expectations.
02
The Game and Anime business was the primary driver of growth, with net sales of ¥13.0 billion (QoQ +¥2.5 billion) and operating profit of ¥2.6 billion (QoQ +¥1.3 billion), largely due to successful 2nd-anniversary events for Heaven Burns Red.
03
The company revised its dividend policy to maintain a Dividend on Equity (DOE) of around 3% and a consolidated dividend payout ratio of 30% or higher, with a forecast of ¥16.5 per share for FY24.
04
The Metaverse business, despite a QoQ sales decrease to ¥1.6 billion, saw operating profit increase to ¥0.1 billion (QoQ +¥0.2 billion) due to improved profit margins from diversified payment methods in the Platform Business.
05
The DX Business experienced QoQ growth in sales to ¥1.5 billion (QoQ +¥0.2 billion) and operating profit to ¥0.3 billion (QoQ +¥0.1 billion), driven by growth in the Advertising Business.
06
The Commerce business performed weakly, with net sales of ¥0.3 billion and negligible operating profit, impacted by an algorithm update.
07
The Investment business saw net sales increase to ¥0.8 billion (QoQ +¥0.4 billion) and accumulated investment assets with an operational investment securities valuation of ¥33.0 billion.
Insights
01
GREE's consolidated financial results for Q3 FY24 show net sales of ¥17.2 billion and operating profit of ¥2.5 billion, achieving QoQ growth in both sales and profit and surpassing expectations.
02
The Game and Anime business was the primary driver of growth, with net sales of ¥13.0 billion (QoQ +¥2.5 billion) and operating profit of ¥2.6 billion (QoQ +¥1.3 billion), largely due to successful 2nd-anniversary events for Heaven Burns Red.
03
The company revised its dividend policy to maintain a Dividend on Equity (DOE) of around 3% and a consolidated dividend payout ratio of 30% or higher, with a forecast of ¥16.5 per share for FY24.
04
The Metaverse business, despite a QoQ sales decrease to ¥1.6 billion, saw operating profit increase to ¥0.1 billion (QoQ +¥0.2 billion) due to improved profit margins from diversified payment methods in the Platform Business.
05
The DX Business experienced QoQ growth in sales to ¥1.5 billion (QoQ +¥0.2 billion) and operating profit to ¥0.3 billion (QoQ +¥0.1 billion), driven by growth in the Advertising Business.
06
The Commerce business performed weakly, with net sales of ¥0.3 billion and negligible operating profit, impacted by an algorithm update.
07
The Investment business saw net sales increase to ¥0.8 billion (QoQ +¥0.4 billion) and accumulated investment assets with an operational investment securities valuation of ¥33.0 billion.