Gree Holdings.inc. · TSE:3632
Gree Holdings.inc — Q3 FY2025 Earnings Presentation
78 slides from Gree Holdings.inc's earnings presentation, May 9, 2025
Slide 1: FY2025 Third Quarter Financial Results
GREE Holdings, Inc. FY2025 Third Quarter Financial Results May 9, 2025 Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 2: Changes to Reportable Segments (creation of IP Business segment)
Changes to Reportable Segments (creation of IP Business segment) ⁃ In light of the growing market importance of the IP and content businesses, such as anime and manga, which the GREE Group has long been engaged in, the company established an IP Business Department on April 1, 2025 and has created a
Slide 3: FY25 3Q Executive Summary
FY25 3Q Executive Summary ◼ Strong performance with sales and profit increasing in all segments Overview and profit outpacing expectations (Four segments) ⁃ Net sales ¥14.1 billion (QoQ +¥0.3 billion), operating profit ¥1.7 billion (QoQ +¥0.5 billion) ◼ New titles off to a good start (we expect posi
Slide 4: Contents
Contents 1. Financial Results Overview 2. Progress Toward Achievement of Management Plan Targets 3. Progress Made in Each Business Segment 4. Appendix Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 5: Contents
Contents 1. Financial Results Overview 2. Progress Toward Achievement of Management Plan Targets 3. Progress Made in Each Business Segment 4. Appendix Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 6: FY25 3Q Financial Results Overview (Consolidated)
1. Financial Results Overview FY25 3Q Financial Results Overview (Consolidated) Net sales ¥14.6 billion, operating profit ¥1.6 billion, EBITDA ¥1.7 billion Ordinary profit and net income declined QoQ due to foreign exchange losses and impairment losses posted on affiliated company shares Billions of
Slide 7: FY25 3Q Financial Results Overview (Four Segments)
1. Financial Results Overview FY25 3Q Financial Results Overview (Four Segments) Net sales ¥14.1 billion, operating profit ¥1.7 billion, EBITDA ¥1.8 billion Operating profit growth surpassed expectations Billions of yen FY25 FY25 FY24 3Q QoQ YoY 2Q 3Q Net sales 14.05 0.32 +2% -2.28 -14% 13.73 16.33
Slide 8: 3Q Operating Profit Analysis (Four Segments)
1. Financial Results Overview 3Q Operating Profit Analysis (Four Segments) Profit rose QoQ with operating profit reaching ¥1.7 billion Billions of yen ¥0.49bn increase -0.24 1.70 +0.32 -0.07 1.21 Increase in Decrease in Increase in variable costs fixed costs sales Operating Operating profit profit (
Slide 9: 3Q Cost Structure (Four Segments)
1. Financial Results Overview 3Q Cost Structure (Four Segments) Total costs declined by ¥0.2 billion to ¥12.4 billion Billions of yen FY25 FY25 FY24 Factors in change (QoQ) 3Q QoQ YoY 2Q 3Q Advertising 1.08 0.20 -0.41 Increase on strengthening of promotions for new title 0.89 1.50 Commission fees, e
Slide 10: Dividend Forecast
1. Financial Results Overview Dividend Forecast We plan to pay dividends of ¥14.5 per share (Ordinary dividend of ¥4.5 per share based on our dividend policy and a commemorative dividend of ¥10 per share marking the 20th anniversary of the founding of the Company) Dividend Distribution Policy Mainta
Slide 11: Financial Discipline
1. Financial Results Overview Financial Discipline The company has established fiscal discipline targets of an equity ratio of at least 60% and an interest-bearing debt to EBITDA ratio of 6x or lower, with a view to achieving an overall balance between business growth and financial soundness Cash an
Slide 12: Contents
Contents 1. Financial Results Overview 2. Progress Toward Achievement of Management Plan Targets 3. Progress Made in Each Business Segment 4. Appendix Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 13: Progress Toward Achievement of Management Plan Targets
Progress Toward Achievement of Management Plan Targets Senior Vice President, Chief Strategy Officer Sanku Shino Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 14: Sales and Operating Profit (Four Segments)
2. Progress Toward Achievement of Management Plan Targets Sales and Operating Profit (Four Segments) Sales Operating Profit QoQ +2% YoY -14% QoQ +40% YoY -32% Billions of yen Billions of yen 20.120.3 19.1 19.0 3.6 16.3 3.1 16.4 16.1 16.0 15.8 15.4 15.5 15.015.2 15.2 14.1 13.713.913.9 13.8 13.3 13.7
Slide 15: Vision for Long-term Growth
2. Progress Toward Achievement of Management Plan Targets Vision for Long-term Growth We aim for long-term growth and maximization of corporate value through steady growth in core earnings from continuous growth businesses and by taking advantage of profit upswings from long-term investment business
Slide 16: Sales and Operating Profit (Continuous Growth Business)
2. Progress Toward Achievement of Management Plan Targets Sales and Operating Profit (Continuous Growth Business) Sales Operating Profit QoQ +1% YoY +10% Share 31% QoQ +40% YoY +41% Share 33% Billions of yen Billions of yen 4.1 3.9 4.0 3.9 4.1 4.34.4 3.3 3.4 3.3 3.6 3.8 3.9 3.8 3.7 2.5 2.6 2.5 2.4 2
Slide 17: Business Conditions (Four Segments)
2. Progress Toward Achievement of Management Plan Targets Business Conditions (Four Segments) Sales and Operating Profit Focus Points Sales: QoQ +2% YoY -14% / Operating Profit: QoQ +40% YoY -32% Billions of yen ◼ Strong performance in all 16.33 businesses, sales in line with 15.3% 14.05 expectation
Slide 18: Earnings Estimates (4Q FY25, Four Segments)
2. Progress Toward Achievement of Management Plan Targets Earnings Estimates (4Q FY25, Four Segments) Sales and Operating Profit Focus Points Sales: QoQ +4% YoY +9% / Operating Profit: QoQ -8% YoY +22% Billions of yen ◼ We expect sales to rise QoQ on the 14.57 start of earnings contribution from 14.
Slide 19: Earnings Forecast and Estimates (Full-Year FY25, Four Segments)
2. Progress Toward Achievement of Management Plan Targets Earnings Forecast and Estimates (Full-Year FY25, Four Segments) Sales and Operating Profit Focus Points Billions of yen Sales: YoY -6% Operating Profit: YoY -15% ◼ While sales are now expected to fall 66.7 short of our forecast owing to the 6
Slide 20: Medium-term Targets (Four Segments)
2. Progress Toward Achievement of Management Plan Targets Medium-term Targets (Four Segments) Sales and Operating Profit Focus Points Profit CAGR(25-27)：41% Billions of yen ◼ We aim for steady growth in 75.6 continuous growth businesses and 66.7 66.4 growth in FY27 and beyond in the 58.7 60.2 Game B
Slide 21: Contents
Contents 1. Financial Results Overview 2. Progress Toward Achievement of Management Plan Targets 3. Progress Made in Each Business Segment 4. Appendix Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 22: Sales and Operating Income by Segment
3. Progress Made in Each Business Segment Sales and Operating Income by Segment Billions of yen FY24 FY25 QoQ YoY 3Q 4Q 1Q 2Q 3Q Sales 12.41 9.43 8.71 9.45 9.71 0.26 +3% -2.71 -22% Game Operating profit 2.46 1.36 0.59 1.07 1.30 0.23 +22% -1.16 -47% Sales 1.61 1.88 1.96 2.08 2.16 0.08 +4% 0.55 +34% M
Slide 23: Earnings Estimates and Forecast by Segment
3. Progress Made in Each Business Segment Earnings Estimates and Forecast by Segment Billions of yen FY24 FY25 4Q FY25 Full-year FY25 3Q Full-year Estimates QoQ Forecast YoY Result Result Sales 10.16 0.45 +5% 41.7 -1.3 -3% 9.71 43.1 Game Operating profit 1.63 0.32 +25% 3.5 -3.0 -46% 1.30 6.5 Sales 2
Slide 24: FY25 Full-Year Earnings Forecast Progress (as of 3Q FY25)
3. Progress Made in Each Business Segment FY25 Full-Year Earnings Forecast Progress (as of 3Q FY25) 25％ 50％ 75％ Sales 67％ ¥27.9bn ¥41.7bn Game Operating profit 84% ¥3.0bn ¥3.5bn Sales 68% ¥6.2bn ¥9.1bn Metaverse Operating profit 111% ¥0.6bn ¥0.5bn Sales 71％ ¥1.3bn ¥1.9bn IP Operating profit 106% ¥0.
Slide 25: Game Business
Game Business Senior Vice President Yuta Maeda Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 26: Sales and Operating Profit
3. Progress Made in Each Business Segment: Game Business Sales and Operating Profit Sales Operating Profit QoQ +3% YoY -22% QoQ +22% YoY -47% Billions of yen Billions of yen 16.816.5 15.9 3.4 15.3 3.1 12.713.0 12.6 12.4 12.4 12.112.2 12.4 2.7 11.4 11.7 11.2 2.4 2.5 10.9 10.8 10.0 9.4 9.7 9.5 2.2 2.2
Slide 27: Puella Magi Madoka Magica Magia Exedra
3. Progress Made in Each Business Segment: Game Business Puella Magi Madoka Magica Magia Exedra Officially released on March 27, 2025 (earnings contribution expected starting in 4Q) Off to a good start with a peak sales ranking of No. 2 and a user review score of 4.3 Notes: ● Sales ranking indicates
Slide 28: Summary of the Game Business
3. Progress Made in Each Business Segment: Game Business Summary of the Game Business Sales and Operating Profit Focus Points Sales: QoQ +3% YoY -22% / Operating Profit: QoQ +22% YoY -47% Billions of yen ◼ New title off to a good start, we 12.42 expect earnings contribution 19.8% starting in 4Q 9.43
Slide 29: Live Service Game Business
3. Progress Made in Each Business Segment: Game Business Live Service Game Business Sales and Operating Profit Focus Points Sales: QoQ +3% YoY -24% / Operating Profit: QoQ +47% YoY -57% Billions of yen ◼ New title off to a good start, we 10.49 expect earnings contribution starting in 4Q 17.2% 7.58 7
Slide 30: Pipeline
3. Progress Made in Each Business Segment: Game Business Pipeline We are leveraging our existing RPG engines and track record of consecutive hits to plan and develop multiple titles, including a major third-party IP title ～FY24 (Released) FY25 FY26 FY27～ Released Released February 2022 Reached top s
Slide 31: Earnings Estimates (4Q FY25)
3. Progress Made in Each Business Segment: Game Business Earnings Estimates (4Q FY25) Sales and Operating Profit Focus Points Sales: QoQ +5% YoY +8% / Operating Profit: QoQ +25% YoY +20% Billions of yen ◼ We expect QoQ growth in sales and 10.16 profit on earnings contribution from 9.71 9.45 9.43 a n
Slide 32: Earnings Forecast and Estimates (Full-Year FY25)
3. Progress Made in Each Business Segment: Game Business Earnings Forecast and Estimates (Full-Year FY25) Sales and Operating Profit Focus Points Billions of yen Sales: YoY -12% Operating Profit: YoY -30% 51.8 ◼ While we expect sales to fall short of our forecast as the delayed 43.1 41.7 launch of a
Slide 33: Medium-term Targets
3. Progress Made in Each Business Segment: Game Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(25-27)：11% Billions of yen ◼ We will front-load investments until 51.8 FY2027. We position the Game Business as a long-term investment 43.1 41.7 42.0 43.4 business, target
Slide 34: Metaverse Business
Metaverse Business Senior Vice President Eiji Araki Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 35: Sales and Operating Profit
3. Progress Made in Each Business Segment: Metaverse Business Sales and Operating Profit Sales Operating Profit QoQ +4% YoY +34% QoQ +209% YoY +291% Billions of yen 2.2 Billions of yen 2.1 0.3 2.0 2.0 1.9 1.8 1.8 1.7 1.6 1.6 0.1 0.1 0.1 0.1 0.1 1.5 1.5 0.1 0.1 0.1 1.3 0.1 1.2 0.0 1.1 1.0 1Q 2Q 3Q 4Q
Slide 36: Summary of the Metaverse Business
3. Progress Made in Each Business Segment: Metaverse Business Summary of the Metaverse Business Sales and Operating Profit Focus Points Sales: QoQ +4% YoY +34% / Operating Profit: QoQ +209% YoY +291% Billions of yen ◼ Profitability in the platform business 2.16 remained high, while the VTuber 2.08 1
Slide 37: Platform Business (REALITY, Inc.)
3. Progress Made in Each Business Segment: Metaverse Business Platform Business (REALITY, Inc.) Sales and Operating Profit Focus Points Sales: QoQ -1% YoY +19% / Operating Profit: QoQ +20% YoY +67% Billions of yen ◼ While making progress in the 1.81 1.78 1.77 development of multiple major 1.65 funct
Slide 38: VTuber Business (REALITY Studios, Inc.)
3. Progress Made in Each Business Segment: Metaverse Business VTuber Business (REALITY Studios, Inc.) Sales and Operating Profit Focus Points Sales: QoQ +32% YoY +309% / Operating Profit: QoQ +¥0.14bn YoY +¥0.03bn Billions of yen ◼ Continuing the trend from the 0.38 previous quarter, multiple talent
Slide 39: Earnings Estimates (4Q FY25)
3. Progress Made in Each Business Segment: Metaverse Business Earnings Estimates (4Q FY25) Sales and Operating Profit Focus Points Sales: QoQ +5% YoY +20% / Operating Profit: QoQ -60% YoY -2% Billions of yen ◼ While we forecast solid sales growth, 2.27 we expect profit to decline due to 2.16 1.96 2.
Slide 40: Earnings Forecast and Estimates (Full-Year FY25)
3. Progress Made in Each Business Segment: Metaverse Business Earnings Forecast and Estimates (Full-Year FY25) Sales and Operating Profit Focus Points Billions of yen Sales: YoY +17% Operating Profit: YoY +229% ◼ While we expect sales to fall short 9.1 of our forecast, we expect to reach 8.5 our ope
Slide 41: Medium-term Targets
3. Progress Made in Each Business Segment: Metaverse Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(25-27)：158% Billions of yen 17.9 ◼ We forecast continued steady growth in the Platform Business and the VTuber Business 12.8 ◼ We expect the VTuber business to enter
Slide 42: IP Business
IP Business Senior Vice President Eiji Araki Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 43: Sales and Operating Profit
3. Progress Made in Each Business Segment: IP Business Sales and Operating Profit Sales Operating Profit QoQ -16% YoY -20% QoQ -53% YoY -24% Billions of yen Billions of yen 0.6 0.6 0.3 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.5 0.4 0.4 0.3 0.2 0.4 0.2 0.4 0.4 0.4 0.4 0.2 0.3 0.2 0.3 0.2 0.2 0.2 0.1
Slide 44: Summary of the IP Business
3. Progress Made in Each Business Segment: IP Business Summary of the IP Business Sales and Operating Profit Focus Points Sales: QoQ -16% YoY -20% / Operating Profit: QoQ -53% YoY -24% Billions of yen ◼ In light of the growing market 0.54 29.5% importance of IP and content 0.51 businesses such as an
Slide 45: Anime Business
3. Progress Made in Each Business Segment: IP Business Anime Business Sales and Operating Profit Focus Points Sales: QoQ -18% YoY +15% / Operating Profit: QoQ -57% YoY +¥0.07bn Billions of yen ◼ The anime business primarily 0.24 30.2% generates earnings from forming and participating in anime 0.20 p
Slide 46: Merchandising Business
3. Progress Made in Each Business Segment: IP Business Merchandising Business Sales and Operating Profit Focus Points Sales: QoQ -97% YoY -93% / Operating Profit: QoQ -¥0.02bn YoY -¥0.02bn Billions of yen 0.01 ◼ The merchandising business, which 0.01 produces and distributes anime IP- 0.01 related m
Slide 47: Entertainment Solution Business
3. Progress Made in Each Business Segment: IP Business Entertainment Solution Business Sales and Operating Profit Focus Points Sales: QoQ -27% YoY +5,802% / Operating Profit: QoQ -¥0.00bn YoY +¥0.01bn Billions of yen ◼ The entertainment solution 0.03 business provides SaaS and AI- 0.02 powered BPO s
Slide 48: Earnings Estimates (4Q FY25)
3. Progress Made in Each Business Segment: IP Business Earnings Estimates (4Q FY25) Sales and Operating Profit Focus Points Sales: QoQ -12% YoY +23% / Operating Profit: QoQ -174% YoY -¥0.05bn Billions of yen 0.51 ◼ We expect some weakness next quarter owing to timing shifts in 29.5% 0.43 revenue rec
Slide 49: Earnings Forecast and Estimates (Full-Year FY25)
3. Progress Made in Each Business Segment: IP Business Earnings Forecast and Estimates (Full-Year FY25) Sales and Operating Profit Focus Points Billions of yen Sales: YoY -6% Operating Profit: YoY +62% ◼ While we now expect sales to fall 1.9 1.8 1.9 1.7 slightly short of our initial forecast, we exp
Slide 50: Medium-term Targets
3. Progress Made in Each Business Segment: IP Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(25-27)：67% Billions of yen 2.9 ◼ While we plan to invest in the entertainment solution business until FY26, we forecast continued steady growth in this business and 1.9 1.9
Slide 51: DX Business
DX Business Vice President Kazuhisa Adachi Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 52: Sales and Operating Profit
3. Progress Made in Each Business Segment: DX Business Sales and Operating Profit Sales Operating Profit QoQ +2% YoY -2% QoQ +20% YoY -7% Billions of yen Billions of yen 0.3 1.8 1.8 1.8 1.8 1.7 1.8 1.8 0.3 1.7 1.7 1.7 0.3 1.6 1.6 1.5 1.5 1.5 1.6 1.5 1.6 0.3 0.3 1.5 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.
Slide 53: Summary of the DX Business
3. Progress Made in Each Business Segment: DX Business Summary of the DX Business Sales and Operating Profit Focus Points Sales: QoQ +2% YoY -2% / Operating Profit: QoQ +20% YoY -7% Billions of yen ◼ Continued to invest in the 1.83 1.79 transition to a recurring-earnings- 1.75 1.75 1.75 type busines
Slide 54: DX Solutions Business
3. Progress Made in Each Business Segment: DX Business DX Solutions Business Sales and Operating Profit Focus Points Sales: QoQ +5% YoY -1% / Operating Profit: QoQ -39% YoY -57% Billions of yen ◼ We aim to build recurring earnings 0.78 0.79 0.77 by releasing new SaaS products 0.75 0.73 13.5% ◼ We wi
Slide 55: DX Consulting Business
3. Progress Made in Each Business Segment: DX Business DX Consulting Business Sales and Operating Profit Focus Points Sales: QoQ +1% YoY +1% / Operating Profit: QoQ +56% YoY +9% Billions of yen ◼ Results in the SES business were 0.77 0.75 0.76 0.77 firm and sales and profit rose 19.8% 0.71 18.6% QoQ
Slide 56: Earnings Estimates (4Q FY25)
3. Progress Made in Each Business Segment: DX Business Earnings Estimates (4Q FY25) Sales and Operating Profit Focus Points Sales: QoQ -1% YoY +1% / Operating Profit: QoQ -32% YoY -16% Billions of yen 1.79 1.78 ◼ We expect profit in the DX consulting 1.75 1.75 1.75 business to decline QoQ owing to t
Slide 57: Earnings Forecast and Estimates (Full-Year FY25)
3. Progress Made in Each Business Segment: DX Business Earnings Forecast and Estimates (Full-Year FY25) Sales and Operating Profit Focus Points Billions of yen Sales: YoY +3% Operating Profit: YoY -5% 7.5 ◼ We have designated FY25 as a 7.1 6.8 period wherein we will make 6.7 investments aimed at res
Slide 58: Medium-term Targets
3. Progress Made in Each Business Segment: DX Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(25-27)：31% Billions of yen 11.0 ◼ We made progress toward transitioning to a recurring- 8.9 earnings-type business, aiming to establish a stable core earnings 7.5 base for t
Slide 59: Investment Business
Investment Business Senior Vice President, Chief Financial Officer Toshiki Oya Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 60: Sales and Operating Profit
3. Progress Made in Each Business Segment: Investment Business Sales and Operating Profit Sales Operating Profit QoQ -69% YoY -33% QoQ -110% YoY -642% Billions of yen Billions of yen 4.1 3.4 3.1 2.8 2.9 2.4 2.3 1.8 1.8 1.3 1.1 1.0 1.0 0.8 0.8 0.8 0.8 0.5 0.5 0.6 0.6 0.5 0.4 0.5 0.4 0.4 0.3 0.2 0.2 0
Slide 61: Summary of the Investment Business
3. Progress Made in Each Business Segment: Investment Business Summary of the Investment Business Sales and Operating Profit Focus Points Sales: QoQ -69% YoY -33% / Operating Profit: QoQ -110% YoY -642% Billions of yen ◼ There were no large-scale 1.85 distributions from investment funds in 1Q and we
Slide 62: Summary of the Investment Business
3. Progress Made in Each Business Segment: Investment Business Summary of the Investment Business Long-term profit contribution, albeit with some year-to-year volatility Valuation & translation adjustments, which are the source of earnings, remain stable Long-term profit trends in the Investment Bus
Slide 63: Summary of the Investment Business: Rise in unrealized value
3. Progress Made in Each Business Segment: Investment Business Summary of the Investment Business Quarterly change in operational investment securities investment valuation Investment status in 3Q Billions of yen Book value Valuation of investments ◼ Investment in 5 VC funds in Japan 36.3 36.1 and t
Slide 64: Status of Investment Results
3. Progress Made in Each Business Segment: Investment Business Status of Investment Results Staggering investments over long periods of time results in staggered timing of investment return phases and high investment returns Valuation of investments by investment period Net multiples and IRR Billion
Slide 65: Fund Investment Management Business (GP)
3. Progress Made in Each Business Segment: Investment Business Fund Investment Management Business (GP) Sales and Operating Profit Focus Points Sales: QoQ -10% YoY -8% / Operating Profit: QoQ -22% YoY +117% Billions of yen ◼ Secured stable management fee 0.29 revenue through continuous 0.28 0.27 0.2
Slide 66: Fund Investment Management Business (GP)
3. Progress Made in Each Business Segment: Investment Business Fund Investment Management Business (GP) Total AUM of Fund Investment Management Business Focus Points Based on total commitment Billions of yen ◼ Total commitment, on which 49.6 50.3 management fee income is based, 47.4 48.0 46.6 has re
Slide 67: Contents
Contents 1. Financial Results Overview 2. Progress Toward Achievement of Management Plan Targets 3. Progress Made in Each Business Segment 4. Appendix Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 68: 3Q Operating Profit Analysis (Consolidated)
4. Appendix: Financial Results Overview 3Q Operating Profit Analysis (Consolidated) Profit down QoQ, operating profit was ¥1.6 billion Billions of yen ¥0.66bn decrease 2.25 -0.96 +0.33 1.59 -0.02 Decrease in Increase in Decrease in sales variable costs fixed costs Operating Operating profit profit F
Slide 69: 3Q FY25 Cost Structure (Consolidated, variable and fixed costs)
4. Appendix: Financial Results Overview 3Q FY25 Cost Structure (Consolidated, variable and fixed costs) Total costs declined by ¥0.3 billion to ¥13.0 billion Billions of yen FY25 FY25 FY24 Factors in change (QoQ) 3Q QoQ YoY 2Q 3Q Advertising 1.08 0.20 -0.41 Increase on strengthening of promotions fo
Slide 70: 3Q FY25 Cost Structure (Consolidated, cost of sales and SG&A)
4. Appendix: Financial Results Overview 3Q FY25 Cost Structure (Consolidated, cost of sales and SG&A) Billions of yen FY25 FY25 FY24 3Q QoQ YoY 2Q 3Q Rental charges 0.52 0.01 -0.03 0.51 0.54 Labor costs 2.42 0.05 0.07 2.37 2.35 Others 3.92 -0.26 -0.17 4.18 4.09 Cost of sales 6.86 -0.20 -0.12 7.06 6.
Slide 71: 3Q FY25 Balance Sheet (Consolidated)
4. Appendix: Financial Results Overview 3Q FY25 Balance Sheet (Consolidated) Billions of yen FY25 FY25 FY24 3Q QoQ YoY 2Q 3Q Current assets 110.0 -0.1 -0.6 110.1 110.6 Non-current assets 15.8 -0.2 -0.7 16.0 16.5 Total assets 125.8 -0.3 -1.3 126.1 127.1 Current liabilities 21.1 -2.1 6.3 23.3 14.8 Non
Slide 72: 3Q FY25 Balance Sheet (GREE Holdings, Inc., standalone basis)
4. Appendix: Financial Results Overview 3Q FY25 Balance Sheet (GREE Holdings, Inc., standalone basis) Billions of yen FY25 FY25 FY24 3Q QoQ YoY 2Q 3Q Current assets 76.0 0.6 -0.4 75.4 76.4 Non-current assets 21.5 1.6 2.1 19.9 19.4 Total assets 97.4 2.2 1.7 95.2 95.7 Current liabilities 19.3 -2.8 4.9
Slide 73: Business Structure and Basic Plan
4. Appendix: Investment Business Business Structure and Basic Plan Business Structure Basic plan for the Investment Business ◼ Continuous, staggered investment timing Fund investment ✓ Make continuous, steady investments regardless of management business market conditions and accumulate investment a
Slide 74: Earnings Structure
4. Appendix: Investment Business Earnings Structure Fund investment management business (GP) LP investment Stable medium-to-long- Achieved Contingency Earnings upside term earnings, albeit with upon exit fees some near-term volatility Achieved Dividends, Resulting from upon exit Gains on sales Valua
Slide 75: Group Headcount
4. Appendix Group Headcount Number of employees 1,610 1,641 1,597 1,553 1,533 733 749 796 787 786 145 161 44 44 156 161 163 46 43 49 429 428 354 329 318 18 17 16 16 18 154 157 145 133 128 87 85 84 84 71 3Q 4Q 1Q 2Q 3Q FY24 FY25 Game Metaverse IP DX Investment Common Others Notes: ● Figures for past
Slide 76: Sustainability
4. Appendix Sustainability GREE Group is continuously working to develop the Internet industry and solve various social issues. Please see our corporate website for more information. Solving social issues Helping to create a Building a safe and through the Internet diverse society secure Internet so
Slide 77: Additional Information Regarding Business Segment Classifications
4. Appendix Additional Information Regarding Business Segment Classifications Segment classification Subsegment names Main subsidiaries and details Browser games Parts of GREE, Inc. Long-term investment Game Excluding Live Service Game Business WFS, Inc. businesses browser games Others GREE Studios,
Slide 78: This document includes forecasts, which are based on currently available information. Actual performance may
◼ This document includes forecasts, which are based on currently available information. Actual performance may differ due to various factors. ◼ When producing this document, we were careful to avoid errors or omissions, but the accuracy and completeness of the provided information is not guaranteed.