Report
FY2024 First Quarter Financial Results Briefing
The briefing presents FY2024 first‑quarter results for GREE, Inc., highlighting net sales of ¥15.8 billion and operating income of ¥1.2 billion, with EBITDA at ¥1.3 billion. Performance across business segments is mixed: the Game and Anime Business generated strong earnings (¥1.56 billion operating income) driven by the Heaven Burns Red anniversary event; the Metaverse Business benefited from a robust REALITY Platform, though the XR cloud and VTuber subsidiaries posted losses; the DX Business maintained steady sales but flat operating income; the Commerce Business showed upward momentum, particularly from aumo’s SaaS expansion. The Investment Business recorded an operating loss of ¥0.2 billion due to the absence of large distributions that had supported prior quarters, yet assets under management increased to ¥82.7 billion. Quarter‑over‑quarter declines are attributed mainly to the reactive drop in Investment Business distributions, offset by cost reductions in variable expenses and controlled increases in fixed costs. Forecasts indicate a weaker Game and Anime segment in Q2, with company‑wide operating income projected at roughly ¥0.5 billion excluding investment gains. Full‑year FY24 operating income is expected to remain within the ¥4–5 billion range, unchanged from initial guidance. Medium‑term targets aim for sales growth to ¥3.3 billion by FY26, leveraging aumo’s SaaS base and jobda’s HR services. Methodologically, the briefing relies on internal financial statements, segment‑level analyses, and forward‑looking estimates without external survey data. Geographic coverage is global with emphasis on North America for Metaverse expansion, while the time period covers Q1 FY2024 and comparative references to Q3–Q4 FY2023.
GREE
Report
Summary of Main Supplementary Explanations Questions and Answers: FY2025 Third Quarter Results Briefing
GREE Holdings, Inc. clarified its strategic approach to game releases and anime development during the FY2025 third‑quarter briefing on May 9, 2025. The company emphasized a disciplined release cadence for its game business, arguing that regular intervals prevent internal cannibalization and preserve development resources. While past titles such as *Heaven Burns Red* and *Puella Magi Madoka Magica: Magia Exedra* were spaced roughly three years apart, GREE indicated that the next title will be introduced without a similarly long gap, reflecting an accelerated pipeline. In the anime sector, GREE highlighted its growing participation in production committees for high‑profile series, including *Is It Wrong to Try to Pick Up Girls in a Dungeon? V* and *Mushoku Tensei II: Jobless Reincarnation (Season 2)*. The firm has joined more than 20 committees overall and is actively pursuing in‑house creation of new anime IPs, from original concept development to full adaptation production. This dual strategy—acquiring external IP through committee participation and cultivating proprietary titles—aims to establish a stable, recurring revenue stream. The briefing underscored GREE’s commitment to expanding its entertainment portfolio across both gaming and anime, positioning the company as a diversified content producer within Japan’s broader media ecosystem.
GREE
