Game Development

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.

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.

I. PISMO ZARZĄDU ............................................................................................................. 3 II. WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI ................ 4 III. SPRAWOZDANIE FINANSOWE ZA ROK 2012 11 BIT STUDIOS S.A. ........................................ 4 IV. SPRAWOZDANIE ZARZĄDU Z DZIAŁALNOŚCI SPÓŁKI W ROKU 2012....................................

I. PISMO ZARZĄDU ............................................................................................................. 3 II. WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI ................ 4 III. SPRAWOZDANIE FINANSOWE ZA ROK 2010 11 BIT STUDIOS S.A. ........................................ 5 IV. SPRAWOZDANIE ZARZĄDU Z DZIAŁALNOŚCI SPÓŁKI W ROKU 2010....................................

I.! PISMO ZARZĄDU ........................................................................................................... 3! II.! WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI ............... 4! III.! SPRAWOZDANIE FINANSOWE ZA ROK 201111 BIT STUDIOS S.A. .......................................

Kapitat PISMO ZARZĄDU z nadwyzki rezerwowy Przypadajace Przypadajace Kapitat wartosci Kapitat z tytutu z przeliczenia Zyski akcjonariuszom dziatom podstawowy emisyjnej jednostek Warszawa, 30 marca 2017 roku ponad wartosc zapasowy ptatnosci w zagranicznych i zatrzymane dominujacej kontro nominal...

I. PISMO ZARZĄDU ........................................................................................................3 II. WYBRANE JEDNOSTKOWE DANE FINANSOWE ZAWIERAJĄCE PODSTAWOWE POZYCJE ROCZNEGO SPRAWOZDANIA FINANSOWEGO WRAZ Z DANYMI PORÓWNYWALNYMI...........4 III. SPRAWOZDANIE FINANSOWE 11 BIT STUDIOS S.A. ZA ROK 2014 ...................................5 IV. SPRAWOZDANIE ZARZĄDU Z DZIAŁALNOŚCI SPÓŁKI W ROKU 2014. ............................. 40 V.

2.2. SPRAWOZDANIE Z SYTUACJI FINANSOWEJ (PLN) AKTYWA PISMO ZARZĄDU Nota Stan na Stan na 31.12.2017 31.12.2016 Aktywa trwate Warszawa, 26 marca 2018 roku Rzeczowe aktywa trwate 3.11. 814 332 779 540 Szanowni Akcjonariusze i Inwestorzy 3.12.

RAPORT ROCZNY 11 BIT STUDIOS S.A. ZA 2021ROK Szanowni Akcjonariusze i Inwestorzy Serdecznie zapraszamy Was do lektury Raportu rocznego 11 bit studios S.A. za 2021 rok. Wyniki finansowe wypracowane w tym okresie, z których jesteśmy bardzo zadowoleni dowodzą, że Spółka bez perturbacji przeszła przez ten trudny od strony operacyjnej, z uwagi na COVID-owe ograniczenia i obostrzenia rok. W 2021 roku 11 bit studios S.A miało 70,12 mln PLN przychodów ze sprzedaży. Wynik EBITDA sięgnął 38,95 mln PLN.

ANNUAL REPORT OF 11 BIT STUDIOS S.A. FOR 2023 (all amounts in PLN unless stated otherwise) DEAR SHAREHOLDERS AND INVESTORS, Please be invited to read 11 bit studios S.A.’s 2023 This past year has brought significant achievements in both sales and game production. We launched a number of major titles that had been in development for some time.