FinancialGREE
GREE Holdings FY2025 Full-Year Financial Results Briefing (Transcript)
6 Aug 20259 pages~17 min full read
GREE Holdings reported FY2025 consolidated net sales of ¥57.1 billion and an operating profit of ¥4.9 billion, meeting its profit forecasts despite revenue headwinds in the Metaverse and DX segments.
The company projects FY2026 operating profit will decline to ¥3.6 billion due to peak development costs for new game titles and upfront investments in VTuber and SaaS sectors, despite a forecasted revenue increase to ¥58.1 billion.
GREE is executing a strategic transition to make Metaverse, IP, and DX businesses account for over 50% of total sales and profit by FY2028, while positioning the Game Business as a long-term investment vehicle.
The Metaverse segment achieved a 150% year-over-year increase in VTuber sales, with management targeting single-month profitability for the business in FY2026.
The Game Business maintained an 18% operating margin during FY2025, even without the release of major new titles.
To celebrate its 20th anniversary, the company declared a total annual dividend of ¥14.5 per share, supported by a strong financial position with an equity ratio exceeding 60%.
The Investment Business manages a ¥21 billion portfolio across Japan and the US, maintaining a long-term target of over 20% return on invested capital (ROIC).
GREE Holdings reported its full-year FY2025 financial results, highlighting a period of improved profitability across its four primary business segments. The company achieved net sales of ¥57.1 billion and an operating profit of ¥4.9 billion on a consolidated basis. While the group met its operating profit forecasts, it faced some revenue headwinds, particularly in the Metaverse and DX segments. To mark its 20th anniversary, the company announced a total annual dividend of ¥14.5 per share, including a special commemorative dividend.
The strategic thesis centers on a transition toward "continuous growth businesses"—Metaverse, IP, and DX—which are projected to account for over half of total sales and profit by FY2028. The Game Business is positioned as a long-term investment vehicle. For FY2026, GREE expects net sales to rise to ¥58.1 billion, though operating profit is forecasted to dip to ¥3.6 billion. This anticipated decline is attributed to peak development costs for multiple new high-profile titles and upfront investments in the VTuber and SaaS sectors.
Segment-specific findings indicate that the Game Business maintained an 18% operating margin despite a lull in major releases. The Metaverse Business saw a 150% year-over-year increase in VTuber sales, with a goal to reach single-month profitability in FY2026. The IP Business is shifting toward proprietary anime ownership and merchandising, while the DX Business is transitioning to a recurring-earnings model. Geographically, the Investment Business continues to manage a ¥21 billion portfolio across Japan and the US, targeting a long-term ROIC of over 20%. The company maintains a strong financial position with an equity ratio exceeding its 60% target.
