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The briefing outlines GREE’s strategic direction for FY2023‑FY2026, emphasizing a diversified portfolio beyond core gaming. In the fourth quarter, the company began categorizing its development pipeline into in‑house, regional expansion, joint development, and licensing, noting increased collaboration prospects with major IP holders such as Heaven Burns Red. Release dates remain undisclosed for FY2024 titles, reflecting a focus on quality over speed.

GREE views the smartphone game market as increasingly less profitable due to larger development scales, prompting a shift toward higher‑margin ventures. Within the Metaverse Business segment, Platform and B2B sub‑segments have achieved profitability; profits are being reinvested into the VTuber and Web3 businesses. The company aims for all four Metaverse sub‑segments to be profitable by FY2026, contributing significantly to group earnings.

Synergies between the VTuber and Platform businesses are currently indirect, driven by international talent recruitment for REALITY. Future cross‑promotions are anticipated once both units mature.

Financial outlooks indicate a consolidated operating income of approximately ¥1.0 billion for Q1 FY2024, with a full‑year target of ¥4.0–5.0 billion for FY2024, excluding new game or anime contributions and investment income. For FY2026, the company projects similar operating income levels while targeting a 10 % return from its Investment Business and aiming for half of non‑investment earnings to derive from non‑game, non‑anime sources. This reflects a medium‑term strategy of expanding stable revenue streams beyond traditional gaming.

The briefing clarified GREE’s strategic focus and financial outlook for FY2024. Development activities remain fluid, with no concrete release schedule disclosed due to external IP dependencies and shifting priorities. In the Metaverse platform segment, the REALITY service showed robust growth in the first quarter, driven by Japan and North America. Monetization diversified across avatars and gifting, contributing to earnings from the platform business. The DX Business continues to expand its client base, split between game and entertainment firms—leveraging GREE’s expertise in advertising, customer service, and quality assurance—and national‑scale food and beauty companies that benefit from digital marketing support. Growth in the latter segment is noted to outpace industry averages.

Financial projections for the second quarter exclude investment activities, estimating consolidated operating income around ¥0.5 billion. Year‑end guidance remains unchanged from the August 3, 2023 announcement, targeting consolidated operating income between ¥4.0 and ¥5.0 billion for FY2024, with no significant impact expected from new game or anime titles or the investment arm. The company’s emphasis on platform monetization and diversified DX services underpins its confidence in maintaining steady earnings growth amid a competitive digital landscape.

The briefing clarified GREE’s strategic priorities and financial outlook for the second quarter of FY2024. Recent events for Heaven Burns Red celebrated its two‑year anniversary, generating strong performance and reinforcing the company’s focus on successful titles. The decision to discontinue support for SINoALICE was framed as a timing choice aligned with the broader development trajectory of GREE’s Game and Anime Business, indicating a shift toward more promising projects.

Development activities continue to progress smoothly, though specific release dates remain undisclosed. In the VTuber segment, GREE plans aggressive investment to expand its talent pool and enhance competitiveness through its talent agencies. Talent auditions are evaluated on past streaming performance, character fit with the existing portfolio, and audience engagement capabilities.

Investment business conditions are described as improving; after a period of inflated valuations—particularly in the United States—market values have stabilized, creating a favorable environment for new investments. GREE’s established network in gaming and metaverse sectors positions it to accumulate additional investment assets.

Financial projections for the third quarter exclude the Investment Business, estimating consolidated operating income of approximately ¥1.5 billion. For the full fiscal year FY2024, the company forecasts consolidated operating income of roughly ¥5.0 billion under the same exclusion. These figures suggest a steady growth trajectory driven by core gaming, anime, and VTuber operations while maintaining a cautious stance on investment activities.

The briefing clarified that the FY2024 third‑quarter earnings improvement in GREE’s Game and Anime Business stemmed from two primary initiatives: a more efficient promotional strategy following the second anniversary of “Heaven Burns Red,” and a comprehensive reorganization that reassigned staff to higher‑margin projects. The company emphasized multiplatformization as a strategic priority, noting active preparations for console game development to capture broader market segments.

In the VTuber segment, planned investments focus on expanding management capacity in line with a growing talent roster and enhancing live‑event production, merchandise marketing, and fan engagement metrics such as concurrent viewer counts. While these initiatives are expected to drive near‑term sales, the company views sustained growth as contingent on deepening fan base loyalty.

Financial outlooks presented exclude investment business figures. Consolidated operating income for the fourth quarter is projected at approximately ¥1.5 billion, and full‑year FY2024 earnings are estimated between ¥5–6 billion. These targets reflect the company’s confidence in its streamlined operations and strategic expansion across gaming, anime, and VTuber platforms.

The briefing clarified GREE’s strategic outlook for FY2024, focusing on console game development and the VTuber business. The company confirmed that its console gaming venture remains in early planning, with no concrete release dates or platform commitments disclosed. This indicates a cautious approach as GREE evaluates market entry points and potential partnerships before committing resources.

In contrast, the VTuber segment is progressing toward profitability. GREE reported steady sales growth aligned with its initial projections, despite operating losses that have risen due to aggressive talent acquisition and merchandise production. These losses fall within the company’s planned range, suggesting disciplined financial management amid expansion efforts. GREE projects that monthly operating losses will be eliminated in FY2026, marking the anticipated break‑even point for its VTuber investments.

The briefing covered a domestic Japanese market focus, with no mention of international expansion for either segment. The time frame discussed spans FY2024 through FY2026, highlighting short‑term challenges and medium‑term profitability goals. Methodological details were limited; the company referenced internal financial metrics rather than external surveys or third‑party data. Overall, GREE’s communication signals a phased growth strategy: cautious console game development coupled with aggressive scaling of its VTuber platform, aiming for profitability by the middle of FY2026.

The briefing clarified GREE’s strategic focus for FY2025 first‑quarter results, emphasizing both gaming and investment operations. In the gaming segment, the company confirmed that advance registrations for the English version of “Heaven Burns Red” are strong and that distribution will be handled by Yostar Games, whose track record in expanding English‑speaking fan communities is expected to generate significant buzz. GREE highlighted ongoing community building efforts prior to launch, underscoring a proactive marketing approach.

Regarding the investment business, management acknowledged that valuation‑loss risk remains comparable to Q1 FY2025 levels. The primary driver of past losses was large investments in funds nearing the end of their operating periods; however, diversification and limited exposure to such funds mitigate long‑term impact. GREE maintains that while short‑term volatility may persist, medium‑to‑long‑term earnings should remain stable as funds mature and yield dividends or asset sales. The company reiterated its commitment to investing in GREE‑Group managed funds, including GREE Ventures, and expects related risks to surface only after several years.

Overall, the briefing presented a balanced outlook: aggressive growth in the gaming arm through strategic partnerships and community engagement, coupled with cautious yet steady investment practices aimed at preserving earnings stability amid inherent valuation risks.

The 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.

GREE Holdings outlines its FY2025 full‑year results and forward strategy across several business segments. In the game division, the company acknowledges the typical post‑launch decline in live‑service titles and counters it by expanding both its live‑service portfolio—leveraging a proven RPG engine—and investing in console games built on proprietary IP to create a steadier earnings base. The company reports multiple recent hit releases and anticipates further inquiries for third‑party IP adaptations, positioning itself to capture high profitability in the live‑service arena.

The platform business remains growth‑oriented, with steady increases in room and gifting revenue offsetting a temporary dip in avatar sales. New avatar features are expected to revive this segment, while the company continues to push other monetization channels. In the VTuber sector, GREE pursues a two‑stage growth model: first expanding its talent roster—now about 90 talents—and then boosting sales per talent through diversified merchandise channels and nascent live‑event advertising. Sales per talent have doubled since FY2024, and the company maintains a balanced portfolio to avoid over‑reliance on any single talent.

The DX business is undergoing a structural shift from one‑time project sales to recurring revenue, with modest growth projected through FY2026 as the transition completes. Investment activities in FY2026 will see increased volatility due to fund maturity and potential impairment, yet the company expects stable income streams from dividends and performance fees. Overall, GREE projects balanced returns while navigating market challenges across its diversified entertainment portfolio.

GREE Holdings’ FY2026 first‑quarter briefing clarified strategic priorities across its game, VTuber, and investment divisions. The company emphasized a shift toward an in‑house development model for console titles while still leveraging external contractors to bridge current expertise gaps. In the mobile game segment, outside‑app payment methods have been fully deployed across all major titles and are contributing positively to profitability; the VTuber platform has similarly expanded its outside‑app transactions, boosting operating margins. The firm acknowledges a structural decline in earnings from new smartphone releases but plans to sustain revenue by focusing on long‑term engagement features and continuous hit title launches, particularly within the RPG genre.

Market outlooks reveal a plateau in smartphone installs but growing potential through high‑value IP and outside‑app monetization. Console gaming is viewed as a long‑term investment, with an emphasis on cultivating enduring IP series. The VTuber market is still expanding globally, especially overseas, and the company projects full‑year profitability for its VTuber production arm by FY2027 as higher‑margin merchandise and live events offset earlier talent acquisition costs.

Exit strategies for the investment business have shifted from IPOs to M&A, reflecting broader market conditions. Generative AI is being integrated across game development, VTuber content creation, and digital transformation services to enhance efficiency and service quality, though its direct earnings impact remains difficult to quantify. Overall, GREE aims to strengthen core competencies, diversify revenue streams, and adapt to evolving market dynamics while pursuing sustainable growth.

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The briefing clarified GREE Holdings’ strategic priorities across its core business segments for FY2026. In the Anime Business, earnings from the newly announced “Mushoku Tensei: Jobless Reincarnation – Chronicle of Echoes” are recorded under the IP Business segment, reflecting the company’s focus on monetizing anime titles it has invested in. The Platform Business within the VTuber segment is expanding beyond traditional gifting revenue by piloting merchandise sales and event features on its REALITY platform; early feedback indicates positive reception, and the company plans to extend these monetization tools to a broader streamer base while offering corporate marketing solutions. In the DX Consulting Business, GREE emphasizes its niche in end‑user entertainment services and acknowledges that generative AI may automate routine maintenance but is unlikely to erode its creative‑driven value proposition in the short term. Regarding financial outlook, a downward revision of FY26 earnings was justified by recent softness in existing game titles; however, the company maintains confidence in its three‑year medium‑term targets (FY28) by shifting emphasis toward continuous growth businesses and reducing reliance on volatile game revenues. Finally, the Anime Business will pursue acquisition of production capabilities—through both in‑house development and M&A—within 2–3 years to secure control over high‑quality, timely anime output. These initiatives collectively aim to diversify revenue streams, strengthen creative control, and sustain long‑term growth across GREE’s entertainment ecosystem.

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