GREE Holdings Consolidated Financial Results for the Nine Months Ended March 31, 2026

Key insights

7 takeaways

01
GREE Holdings reported a 10.9% year-on-year decline in net sales to 38,444 million yen and a 34.7% drop in operating profit to 2,420 million yen for the nine months ended March 31, 2026.See it on page 1
02
Profit attributable to shareholders rose 112.4% to 1,912 million yen, primarily driven by foreign exchange gains despite the decline in core operating performance.See it on page 9
03
The core Game Business experienced an 18.8% year-on-year sales decline to 22,628 million yen as the company focused on stabilizing existing titles.See it on page 5
04
The VTuber Business emerged as a growth driver, achieving a 7.9% increase in net sales to 6,686 million yen and a 60.6% surge in operating profit.See it on page 5
05
The Investment Business recorded an operating loss of 858 million yen due to unfavorable market conditions, contributing to the company's decision to suspend its consolidated earnings forecast for the fiscal year ending June 30, 2026.See it on page 6
06
The company maintains a strong financial position with an equity-to-asset ratio of 75.0% as of March 31, 2026.See it on page 1
07
A newly established IP Business segment reported an operating loss of 56 million yen as the company continues to prioritize investment in future development.See it on page 11

Summary

GREE Holdings’ consolidated financial results for the nine months ended March 31, 2026, reflect a period of strategic transition and investment across its diversified business segments. The company reported net sales of 38,444 million yen, representing a 10.9% year-on-year decline, and an operating profit of 2,420 million yen, a 34.7% decrease. Despite these declines in top-line and operating performance, profit attributable to shareholders of the parent rose significantly to 1,912 million yen, a 112.4% increase, largely bolstered by foreign exchange gains.

The company’s performance varied by segment. The core Game Business, which focused on stabilizing existing titles, saw net sales of 22,628 million yen, down 18.8% year-on-year. Conversely, the VTuber Business demonstrated growth, with net sales increasing 7.9% to 6,686 million yen and operating profit rising 60.6%. The DX Business remained stable with a 6.5% increase in sales, while the Investment Business struggled, recording an operating loss of 858 million yen due to unfavorable market conditions affecting fund valuations. The newly established IP Business segment reported an operating loss of 56 million yen as it continues to invest in future development.

Financial stability remains strong, with an equity-to-asset ratio of 75.0% as of March 31, 2026. Total assets decreased to 123,698 million yen, primarily due to reductions in money held in trust and investment securities. Due to the volatility of the current business environment and its impact on the Investment Business, the company has suspended its consolidated earnings forecast for the fiscal year ending June 30, 2026. The results were prepared under Japanese GAAP, and the company implemented segment reclassifications during the period to better reflect its current business structure.