FY2025 Third Quarter Financial Results Briefing: GREE Holdings

GREE Holdings announced that the fiscal year 2025 third‑quarter results exceeded expectations, driven by robust performance across all four reportable segments. The company introduced a new IP Business segment on April 1, 2025, consolidating anime licensing and manga activities to reflect growing importance in content creation. Operating profit rose QoQ to ¥1.7 billion, with sales increasing across Game, Metaverse, IP, and DX businesses; the Investment Business recorded a ¥100 million loss on sales of ¥600 million. Foreign‑exchange and impairment losses contributed to a net income decline, yet the equity ratio remains above 60 % and debt‑to‑EBITDA stays near 3×, meeting the firm’s financial discipline targets.

Key drivers include the launch of “Puella Magi Madoka Magica Magia Exedra” in the Game Business, which is expected to contribute earnings from Q4 onward, and record‑high operating margins in the Metaverse Platform segment due to improved commission structures. The VTuber arm achieved record sales, with merchandising gaining higher margin share. In the IP Business, anime production committees continue to expand, while merchandising and entertainment‑solution SaaS are in early rollout phases. The DX Business saw a slight YoY decline but QoQ growth, with new SaaS products and consulting projects building recurring revenue streams.

Forecasts for FY 2025 anticipate a sales shortfall from delayed game releases but project operating profit above the ¥500 million target, rising to roughly ¥700 million. Medium‑term goals focus on sustaining growth in continuous‑growth segments, achieving profitability in the VTuber business by FY 2026, and expanding the IP and DX businesses into recurring‑earnings models.