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GREE Holdings FY2026 Q1 Financial Results Briefing (Transcript)
GREE Holdings reported its financial results for the first quarter of fiscal year 2026, highlighting a period of strategic reorganization and disciplined profit management.
- GREE Holdings reported Q1 FY2026 consolidated net sales of ¥12.8 billion and an operating profit of ¥1.1 billion, with profits exceeding projections due to disciplined cost controls.
- The VTuber Business achieved record operating profits with a 142% year-over-year increase, driven by lower payment processing fees and reduced losses in the Production sub-segment.
- The Game Business remains the primary revenue driver at ¥7.5 billion, though it faces declining momentum that the company intends to address by pivoting toward console development, including one proprietary IP title scheduled for FY2026.
Consolidated Financial Results: FY3/26 Q2
Akatsuki Inc. achieved consolidated sales of ¥7,602 million and a net income of ¥3,020 million during the second quarter of the fiscal year ending March 2026, representing an 80% year-over-year increase in profitability.
- Akatsuki Inc. reported Q2 FY3/26 net income of ¥3,020 million, marking an 80% year-over-year increase in profitability driven by strategic investment exits and the launch of Kaiju No. 8 The Game.
- Kaiju No. 8 The Game generated over ¥2 billion in its debut month and surpassed 5 million downloads, helping to offset a 10% year-over-year sales decline in the core Games & Comics segment.
- The company is aggressively diversifying beyond mobile gaming into an entertainment conglomerate, evidenced by the acquisition of candy brand PAPABUBBLE and the creation of an AI/DX Solutions division.
Consolidated Results Supplementary Information for Q2 of FYE March 2026
Akatsuki Inc. reported its consolidated financial results for the second quarter of the fiscal year ending March 2026, highlighting a period of strategic transition.
- Akatsuki Inc. reported an 80% increase in net income to ¥3,020 million for Q2 FYE March 2026, largely driven by successful investee exits and reduced valuation losses on investment securities.
- The Games & Comics segment, the company's primary revenue driver, saw a 10% year-over-year sales decline to ¥7,248 million due to the cooling of existing titles.
- The August 2025 launch of 'Kaiju No. 8 The Game' generated over ¥2 billion in its first month, with 40% of those sales coming from overseas markets.
Consolidated Financial Statements for the Second Quarter and First Half-Year Period of Fiscal Year Ending March 31, 2026 (Japanese GAAP)
Akatsuki Inc. experienced a period of strategic transition during the first half of the fiscal year ending March 31, 2025, characterized by a contraction in core gaming revenue alongside aggressive expansion into new business segments.
- Akatsuki Inc. reported a 20.6% year-on-year decline in net sales to ¥9,915 million and a 42.4% drop in operating profit to ¥1,724 million, driven by the underperformance of existing game titles.
- Net income attributable to owners increased by 31.4% to ¥1,853 million, supported by the launch of 'Kaiju No. 8 The Game' and growth in the Entertainment and Lifestyle segment.
- The company expanded its consolidation scope by acquiring six new entities, including CRAYON Inc., Natee, Inc., and PAPABUBBLE JAPAN HD, Inc., resulting in a ¥3,352 million increase in goodwill.
![Cover of FY2025 Consolidated Financial Results [Japanese GAAP]](https://files.gameindustrylibrary.com/thumbnails/5853/page-1.png)
FY2025 Consolidated Financial Results [Japanese GAAP]
CyberAgent achieved a significant financial recovery during the 2025 fiscal year, characterized by a 9.1% increase in net sales to ¥874,030 million and a 78.9% surge in operating income to ¥71,702 million.
- CyberAgent's operating income surged 78.9% to ¥71,702 million in FY2025, driven primarily by the Game Business, which nearly doubled its operating income to ¥60,06 billion.
- The Media & IP segment achieved its first annual profit in a decade, contributing ¥7.29 billion in operating income following a corporate reorganization to integrate ABEMA-related operations.
- Consolidated net sales grew 9.1% to ¥874,030 million, while net income attributable to the parent doubled to ¥31.67 billion.
FY2026 First Quarter Financial Results
The first quarter of FY2026 reflects a period of strategic transition and resilient profitability, with consolidated net sales reaching ¥12.8 billion and operating profit totaling ¥1.1 billion.
- FY2026 Q1 consolidated net sales reached ¥12.8 billion with an operating profit of ¥1.1 billion, representing a 63% year-over-year increase in profit despite a sequential sales decline.
- Management revised full-year sales estimates upward to ¥56.4 billion, positioning FY2026 as a foundational investment year before projected significant growth in FY2027.
- The Investment Business generated ¥1.4 billion in operating profit from a ¥53 billion asset pool, maintaining an unrealized portfolio value of ¥38.9 billion.
Arc Raiders: The Game That Dares to Go Up Against Battlefield and Call of Duty
Embark Studios, founded in 2018 by former EA executive Patrick Soderlund, is navigating the competitive landscape of the shooter genre with the upcoming release of its extraction shooter, Arc Raiders.
- Embark Studios is launching its extraction shooter Arc Raiders directly against major industry titles Battlefield 6 and Call of Duty: Black Ops 7, positioning it as the start of a long-term service journey.
- Arc Raiders underwent a significant pivot from its original 2021 concept as a co-operative AI-driven game to an extraction shooter after internal playtesting revealed the initial design was not fun to play.
- Following an initial surge of over 20 million downloads, Embark’s first title, The Finals, experienced a rapid decline in player retention in early 2024 due to issues with content depth, onboarding, and UI.
Skipping GDC Sends Message to Developers That You Don't Care, Organiser Warns
The Game Developers Conference (GDC) is undergoing a significant strategic pivot to address declining exhibitor participation and shifting industry dynamics.
- GDC is undergoing a major restructuring for its next event, including a shift to a 'festival' format, a 45% reduction in ticket prices, and the introduction of a safety hotline to address attendee concerns regarding San Francisco.
- GDC leadership warns that major companies skipping the conference, such as Unity and Epic, risk signaling to developers that they do not value the community, as the event serves as a critical 'front door' for meeting new talent.
- The US video game market saw 10% revenue growth in September 2025, driven by strong game releases like Borderlands 4, improved console sales, and increased subscription spending.
The Game Industry of Finland 2024
The Finnish game industry serves as a resilient, export-driven pillar of the national economy, currently navigating a complex global market transition.
- The Finnish game industry reached a record 270 active studios employing 4,300 professionals by the end of 2024.
- Annual industry turnover contracted to €2.85 billion, with private investment slowing to €128 million.
- Studios are diversifying away from a mobile-first model, with PC development now reaching parity and increased exploration of console and VR platforms.
Gamescom: E3’s demise has been good and bad for us
Gamescom has emerged as the preeminent global gaming event, successfully bucking industry trends of declining attendance by hosting 1,500 exhibitors from 72 countries.
- Gamescom has solidified its position as the leading global gaming event by hosting 1,500 exhibitors from 72 countries, successfully blending B2B networking with a consumer-facing festival model.
- The industry is shifting from hardware-centric models to community-based engagement, with publishers prioritizing multi-platform releases and mobile accessibility on platforms like Roblox to reach younger demographics.
- While Gamescom has filled the void left by E3, it no longer serves as the primary venue for major global announcements, a role now largely occupied by platforms like The Game Awards.
DeNA Q1 FY2025 Operating Results
DeNA’s Q1 FY2025 operating results demonstrate a period of robust profitability, with the company reporting revenue of 41.7 billion yen and an IFRS operating profit of 13.8 billion yen.
- DeNA reported Q1 FY2025 revenue of 41.7 billion yen and an operating profit of 13.8 billion yen, marking a 23% revenue increase and a 620% surge in operating profit year-on-year.
- The company’s FY2025 revenue guidance is set between 146.0 billion and 154.0 billion yen, reflecting volatility in the Game Business and ongoing growth investments.
- DeNA is implementing an 'AI-ALL-IN' strategy to integrate generative AI across internal operations and develop AI-native consumer products and enterprise services.
GREE Holdings FY2025 Full-Year Financial Results Briefing (Transcript)
GREE Holdings reported its full-year FY2025 financial results, highlighting a period of improved profitability across its four primary business segments.
- 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.