Mobile
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.
GREE
Report
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.
GREE
