Library

FY2021 Third Quarter Financial Results

The FY2021 third‑quarter results demonstrate a robust performance driven largely by the launch of new titles and cost efficiencies. Net sales rose to ¥13.9 billion, up 0.23 % QoQ and down 1.53 % YoY from ¥15.44 billion in the same period of FY2020, while operating income increased to ¥1.72 billion, a 1.16 % QoQ gain and a 0.49 % YoY rise from ¥1.24 billion. EBITDA reached ¥1.91 billion, up 1.15 % QoQ and 0.55 % YoY from ¥1.36 billion, reflecting a 15 % operating‑income margin. Net income surged to ¥5.08 billion, a 2.09 % QoQ increase and 3.90 % YoY growth, largely attributable to profit from investment‑fund operations. Key drivers include the strong start of “Assault Lily: Last Bullet,” which entered distribution on January 20 and achieved a 16th‑place ranking in app sales, and the development of third‑party titles such as “That Time I Got Reincarnated as a Slime” and “Mao to Ryu no Kenkokutan.” Advertising costs fell by ¥0.38 billion QoQ, while commission fees declined due to reduced royalties from app games. Total costs decreased by ¥0.93 billion QoQ, driven by lower variable and fixed expenses. The company maintained a flexible capital policy through a stock‑repurchase program of up to 20 million shares (≈¥12 billion) and announced a dividend of ¥11 per share, up from ¥10 in FY2020. Geographic coverage spans Japan, North America, Europe, and Asia, with ongoing overseas distribution of multiple IP titles. The methodology relies on consolidated financial statements and quarterly operational data, providing a comprehensive view of performance across game development, live entertainment, and advertising initiatives.

market-analysis mobile live-ops+1

GREE

Report

Consolidated Financial Results: FY3/26 2nd Quarter

Consolidated Financial Results The contents in this material reflect information and our opinions only as of ourselves to revise or publicly release the results of any revision to these FY3/26 – 2<sup>nd</sup> Quarter forward looking statements in light of new information or future events. You Akatsuki Inc. November 12, 2025 that could cause actual results to differ materially.

market-analysis employment investment+2

Akatsuki

Report

FY2023 First Quarter Financial Results Briefing

GREE, Inc. reported FY2023 first‑quarter results with net sales of ¥16.6 billion and operating income of ¥1.58 billion, driven largely by the Internet and Entertainment segment. The flagship game “Heaven Burns Red” continued to outperform expectations, sustaining high sales rankings and generating strong variable revenue; however, quarter‑on‑quarter sales declined after a peak in FY22 due to the absence of new releases and anniversary events. Variable costs fell, while fixed costs remained stable, resulting in a total cost reduction of ¥2.0 billion to ¥15.0 billion. The Metaverse business, centered on the global platform REALITY, achieved a milestone of 10 million downloads across 63 countries. GREE plans to expand content and communication features—such as new gaming titles, reaction stickers, and chat GIFs—to increase user engagement and monetize the platform further. The Commerce and DX segment continued to grow its SaaS offering, aumo My Business, with rising media users and clients. Investment and Incubation activities saw an AUM increase to ¥80 billion, driven by asset revaluation and new investments in three VC funds (Japan and the U.S.) and 14 startups. Despite a decline in listed‑stock valuations, unlisted holdings rose, improving overall portfolio value and IRR, particularly in the growth phase. Geographically, GREE’s operations span Japan and international markets, with a focus on expanding overseas reach for both gaming and Metaverse services. The company anticipates stable income in FY23, with a projected operating income of ¥1.0–¥1.5 billion for the second quarter, while maintaining aggressive investment in Metaverse development.

market-analysis metaverse mobile+2

GREE

Report

Financial Results for the First Quarter: Fiscal Year Ended June 30, 2011

GREE, Inc. reported first‑quarter financial results for the fiscal year ending June 30 2011, showing a 13 % rise in net sales to ¥12.41 billion versus the prior quarter and an 18 % increase in operating profit to ¥6.22 billion. Net income climbed 19 % to ¥3.70 billion, driven by higher paid‑service and advertisement revenues linked to new first‑party titles such as “Pirate Kingdom Columbus” and the launch of a monthly fee plan for “Hacöniwa.” The company’s user base reached 22.46 million members by September 2010, with 46 % aged over 30, and mobile traffic accounted for a growing share of page views. Operating expenses rose modestly; cost of sales increased by 25 % mainly due to higher rental charges, while advertising spend grew 22 %. Labor costs and SG&A expenses also rose, reflecting continued investment in development and marketing. Cash flow from operations turned negative for the quarter, offset by a significant inflow of ¥8.78 billion from investment activities and a reduction in financing cash outflows. GREE expanded its platform by opening the “GREE Platform” to third‑party developers, partnering with hosting and customer‑support firms, and launching a mobile service on smartphones. Geographic outreach plans include opening offices in Asia and North America and partnering with Project Goth, Inc. to tap emerging‑market mobile SNSs. The company maintained a robust safety framework through its GREE Patrol system and age‑restriction policies, reinforcing user protection amid rapid growth.

market-analysis monetization user-acquisition+3

GREE

Report

Quarterly Financial Results for the First Half of Fiscal Year Ending March 2012: Japan

TOHO HOLDINGS CO., LTD. released its consolidated financial results for the first half of the fiscal year ending March 2012, covering the period from April 1, 2011, to September 30, 2011. The report outlines the company’s operational performance, financial position, and cash flow status within the Japanese pharmaceutical wholesaling and related healthcare service sectors. The primary objective of the document is to provide stakeholders with a transparent account of the group’s financial health and strategic progress, including business expansion through the acquisition of SHOUEI CO., LTD. and the establishment of new distribution infrastructure in Kyushu. During this period, the company achieved net sales of 539,360 million yen, representing a 3.8% increase compared to the same period in the previous fiscal year. Despite this growth in top-line revenue, profitability metrics declined: operating income fell by 18.8% to 4,110 million yen, ordinary income decreased by 15.1% to 6,059 million yen, and net income dropped by 8.9% to 3,364 million yen. The pharmaceutical wholesaling segment remained the primary revenue driver, while the dispensing pharmacy operations segment demonstrated significant growth, recording a 14.5% increase in net sales. The financial position as of September 30, 2011, showed total assets of 515,965 million yen and total net assets of 114,884 million yen. Cash flow from operating activities resulted in an outflow of 5,926 million yen, largely influenced by changes in working capital, including a decrease in notes and accounts payable. The company maintained its full-year earnings forecast, citing potential uncertainties regarding upcoming national health insurance drug price revisions. The report adheres to standard Japanese accounting practices and reflects the company’s ongoing efforts to optimize distribution and enhance customer support systems.

market-analysis investment japan

TOHO HOLDINGS CO.

Report

Summary of Consolidated Financial Results: First Half Ended September 30, 2011

Kaga Electronics Co., Ltd. reported a challenging financial performance for the first half of the fiscal year ending March 31, 2012. The company faced significant headwinds, including the aftermath of the Great East Japan Earthquake, global economic instability in the United States and Europe, and a strengthening yen. These factors contributed to a 3.5% decline in consolidated net sales to 116,271 million yen. Profitability was more severely impacted, with operating income falling 68.9% to 805 million yen and net income dropping 77.2% to 321 million yen compared to the same period in the previous year. The company operates across four primary segments: electronic components, information equipment, software, and others. The electronic components segment, which represents the largest portion of the business, saw sales decrease by 5.8% as manufacturers reduced output. While the information equipment segment achieved a 9.1% sales increase due to demand for PC peripherals and digital TV tuners, it recorded an operating loss of 77 million yen due to compressed margins and higher expenses. Both the software and other segments experienced declines in sales and operating income, further pressuring the bottom line. Financial positioning remained stable, with total assets at 110,147 million yen and an equity ratio of 41.3%. Cash flow from operating activities shifted to a net outflow of 2,446 million yen, largely driven by changes in accounts receivable and trade payables. Looking ahead, the company maintained its full-year forecast despite the uncertain economic environment. Management noted that severe flooding in Thailand, which began in October 2011, caused damage to a subsidiary’s factory, though the full financial impact remains under assessment. The company continues to focus on strengthening group solidarity and expanding its product portfolio to navigate these ongoing market challenges.

market-analysis investment japan+1

Kaga Electronics Co.

FY2021 Third Quarter Financial Results

Consolidated Financial Results: FY3/26 2nd Quarter

Consolidated Financial Results for the Fiscal Year Ended March 31, 2025: Japan

FY2023 First Quarter Financial Results Briefing

Financial Results for the First Quarter: Fiscal Year Ended June 30, 2011

Quarterly Financial Results for the First Half of Fiscal Year Ending March 2012: Japan

Summary of Consolidated Financial Results: First Half Ended September 30, 2011