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Annual Report 2005

Printed in Japan This annual report is printed on recycled paper. 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 Total Games (Offline) Games (Online) Mobile Phone Content Publication Others Financial Highlights ________________________________________ 1 Disclaimer Regarding Forward-Looking Statements To Our Shareholders ____________________________________ 2 Statements in this annual report with respect to the current plans, estimates, stra...

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Square Enix

Report

Summary of Main Supplementary Explanations Questions and Answers: FY2025 Full-Year Results

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.

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GREE

Report

FY2021 Second Quarter Financial Results

FY2021 second‑quarter results show net sales of ¥13.7 billion, operating income of ¥0.6 billion and EBITDA of ¥0.8 billion, meeting forecasted targets. Ordinary income rose to approximately ¥3.0 billion largely due to gains from investment‑fund operations, while net sales declined from the first quarter because of a seasonal dip in game revenue. Operating income remained stable, with expectations for Q3 around ¥1.0 billion as new titles launch. Key releases include “Assault Lily: Last Bullet,” a collaboration with Bushiroad, TBS and SHAFT, which debuted on January 20th and is supported by a media‑mix strategy that incorporates anime integration. The domestic launch of “One‑Punch Man Ichigeki Maji Fight” began in late October, and the Chinese version of “Another Eden” was released on November 5th through X.D.Network Inc. The company plans to add two to three in‑house titles annually, with “Heaven Burns Red” and “Knights of Sidonia” slated for 2021. Operationally, coin consumption fell from Q1 due to a slowdown in SINoALICE and seasonal effects, yet overall consumption remained stable. Advertising costs rose because of new‑title promotion, while variable costs such as commission fees decreased. Fixed costs increased slightly due to higher outsourcing expenses during the final development phase of “Assault Lily: Last Bullet.” The live‑entertainment platform REALITY expanded its content library, earning a Google Play Best of 2020 award in the entertainment category. Advertising and media initiatives continued to adapt amid COVID‑19 restrictions, with campaigns for SINoALICE, DanMachi and other IPs. Stock repurchase activity proceeded as planned, supporting shareholder value.

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GREE

Report

Summary of Main Supplementary Explanations Questions and Answers: FY2024 Second Quarter

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.

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GREE

Report

Summary of Main Supplementary Explanations Questions and Answers: FY2022 Third Quarter GREE Results Briefing

The briefing clarifies GREE’s operational status and financial outlook for FY2022 third quarter, focusing on game releases, overseas distribution, user acquisition, and investment performance. Heaven Burns Red is positioned as a long‑term growth engine; the company plans to add content and implement creative training cycles, leveraging experience from titles like Another Eden. Echoes of Mana, launched April 27, 2022, has already met key performance indicators and will receive ongoing promotional support. Simultaneous global releases of That Time I Got Reincarnated as a Slime: ISEKAI Memories and Echoes of Mana have performed strongly overseas, prompting consideration of further international launches for other titles. User acquisition and engagement for the mobile title REALITY have improved through sustained promotional activities in Japan and abroad, with notable success in North America via targeted events and functional enhancements. Financially, the company experienced a cumulative loss for the third quarter; this is attributed to a decline in the Investment and Incubation Business relative to FY2021, despite steady growth in Internet and Entertainment operations driven by new hit titles. The Investment segment’s volatility over short periods is noted as a contributing factor. Looking ahead to the fourth quarter, GREE projects operating income in the Internet and Entertainment Business between ¥2.5 billion and just under ¥3.0 billion, assuming continued strong sales of Heaven Burns Red and stable market trends for new releases. The outlook remains contingent on title performance dynamics.

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GREE