ReportGREE
Summary of Main Supplementary Explanations Questions and Answers: FY2025 Second Quarter GREE Results Briefing
2 pages~3 min full read
GREE targets monthly profitability for its VTuber segment in FY2026, with annual sales projected to reach approximately ¥3.0 billion.
See it on page 2Pre-registration for the upcoming title 'Puella Magi Madoka Magica Magia Exedra' exceeded 500,000 by January 31, signaling strong market interest.
See it on page 1Flagship games 'Heaven Burns Red' and 'That Time I Got Reincarnated as a Slime: ISEKAI Memories' have stabilized, showing a deceleration in decline rates after three years of operation.
See it on page 1The VTuber business is currently experiencing increased quarterly losses due to one-time 3D model production expenses, though variable costs have successfully aligned with sales.
See it on page 1GREE maintains an independent release schedule for new games, ensuring that project-specific delays do not impact the broader annual release cadence.
See it on page 1Management plans to stabilize VTuber segment profitability by expanding the talent roster, which is expected to normalize the impact of one-time production costs.
See it on page 2The briefing outlines GREE’s performance and strategic outlook for FY2025 Q2, focusing on game releases, existing title dynamics, and the VTuber business. Pre‑registration for “Puella Magi Madoka Magica Magia Exedra” surpassed 500,000 by January 31, exceeding expectations and reinforcing confidence in the IP’s strong fan base. The company maintains an annual release cadence for new titles, but schedules are determined independently per project; delays in one title do not cascade to others. Existing flagship games such as *Heaven Burns Red* and *That Time I Got Reincarnated as a Slime: ISEKAI Memories* have experienced a deceleration in decline rates after three years, indicating sustained player engagement.
In the VTuber segment, sales growth is driven by talent merchandise, live music events, and seasonal participation in Winter Comiket. Revenue has turned profitable as variable costs align with sales, while one‑time expenses—primarily 3D model production for new and returning talents—have increased quarterly, contributing to larger losses. Management anticipates that expanding the talent roster will stabilize one‑time costs and enhance profitability.
Looking ahead, GREE projects monthly profitability in FY2026 with annual VTuber sales near ¥3.0 billion, followed by accelerated growth targets. The briefing underscores a balanced approach to new title development, sustained performance of legacy games, and a focused strategy for scaling the VTuber business while managing cost structures.
