Gree Holdings.inc. · TSE:3632
Gree Holdings.inc — Q2 FY2026 Earnings Presentation
78 slides from Gree Holdings.inc's earnings presentation, Feb 5, 2026
Slide 1: FY2026 Second Quarter Financial Results
GREE Holdings, Inc. FY2026 Second Quarter Financial Results February 5, 2026 Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 2: Executive Summary (FY26 2Q)
Executive Summary (FY26 2Q) ◼ Strong performance in all segments with profit surpassing expectations on Overview improved margins (Four Segments) ⁃ Net sales ¥12.1 billion (QoQ +¥0.2 billion), operating profit ¥0.6 billion (QoQ -¥0.5 billion) ◼ Profit from existing titles surpassed expectations and
Slide 3: 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 4: Contents: Financial Results Overview
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: FY26 2Q Financial Results Overview (Consolidated)
1. Financial Results Overview FY26 2Q Financial Results Overview (Consolidated) Net sales ¥12.7 billion, operating profit ¥0.4 billion, EBITDA ¥0.5 billion Billions of yen FY26 FY26 FY25 2Q QoQ YoY 1Q 2Q Net sales 12.71 -0.06 -0% -2.87 -18% 12.77 15.58 Operating profit 0.40 -0.67 -63% -1.85 -82% 1.0
Slide 6: FY26 2Q Financial Results Overview (Four Segments)
1. Financial Results Overview FY26 2Q Financial Results Overview (Four Segments) Net sales ¥12.1 billion, operating profit ¥0.6 billion, EBITDA ¥0.7 billion Billions of yen FY26 FY26 FY25 2Q QoQ YoY 1Q 2Q Net sales 12.14 0.15 +1% -1.59 -12% 11.99 13.73 Operating profit 0.59 -0.52 -47% -0.62 -51% 1.1
Slide 7: 2Q Operating Profit Analysis (Four Segments)
1. Financial Results Overview 2Q Operating Profit Analysis (Four Segments) Profit surpassed expectations, with operating profit of ¥0.6 billion Billions of yen ¥0.52bn Decrease +0.15 -0.04 -0.63 1.11 Increase in Increase in variable costs sales 0.59 Increase in fixed costs Operating Operating profit
Slide 8: 2Q Cost Structure (Four Segments)
1. Financial Results Overview 2Q Cost Structure (Four Segments) Total costs up ¥0.7 billion QoQ, to ¥11.6 billion Billions of yen FY26 FY26 FY25 Factors in Change (QoQ) 2Q QoQ YoY 1Q 2Q Reactive decline in promotional costs following anniversary campaigns for Advertising 0.49 -0.12 -0.40 mainstay ti
Slide 9: Contents: Progress Toward Management Plan Targets
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 10: 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 11: Sales and Operating Profit (Four Segments)
2. Progress Toward Achievement of Management Plan Targets Sales and Operating Profit (Four Segments) Sales Operating Profit Billions of yen QoQ +1% YoY -12% Billions of yen QoQ -47% YoY -51% 20.3 20.1 3.6 19.1 19.0 3.1 16.4 16.1 16.3 15.8 16.0 15.4 15.2 15.5 15.2 15.0 13.9 13.9 13.8 14.1 13.7 13.7 2
Slide 12: 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 13: 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 +8% YoY +13% Share 41% QoQ -0% YoY +78% Share 62% Billions of yen Billions of yen 5.0 4.44.44.34.6 0.8 3.43.43.63.93.93.93.84.13.94.04.04.1 0.7 0.8 2.52.72.62.
Slide 14: Business Conditions (Four Segments)
2. Progress Toward Achievement of Management Plan Targets Business Conditions (Four Segments) Sales and Operating Profit Focus Points Sales: QoQ +1% YoY -12% / Operating Profit: QoQ -47% YoY -51% Billions of yen 14.05 ◼ Sales fell slightly short of 13.73 13.28 expectations due to sales mix 12.7% 11.
Slide 15: Earnings Estimates (3Q FY26, Four Segments)
2. Progress Toward Achievement of Management Plan Targets Earnings Estimates (3Q FY26, Four Segments) Sales and Operating Profit Focus Points Sales: QoQ +5% YoY -9% / Operating Profit: QoQ +34% YoY -53% Billions of yen ◼ We have set a conservative sales 14.05 13.28 forecast at a level that we are 12
Slide 16: Earnings Forecast and Estimates (Full-Year FY26, Four Segments)
2. Progress Toward Achievement of Management Plan Targets Earnings Forecast and Estimates (Full-Year FY26, Four Segments) Sales and Operating Profit Focus Points Sales: YoY -2% / Operating Profit: YoY -17% Billions of yen ◼ Based on recent trends in the Game 58.7 58.1 Business, we have revised our f
Slide 17: 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(26-28)：48% Billions of yen 65.1 65.7 ◼ We target an earnings bottom in FY26 followed by a return to a 58.7 53.8 growth trend in sales and profit 52.4 star
Slide 18: Contents: Progress Made in Each Business Segment
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 19: Sales and Operating Income by Segment
3. Progress Made in Each Business Segment Sales and Operating Income by Segment Billions of yen FY25 FY26 QoQ YoY 2Q 3Q 4Q 1Q 2Q Sales 9.45 9.71 9.06 7.50 7.15 -0.35 -5% -2.31 -24% Game Operating profit 1.07 1.30 1.63 0.78 0.50 -0.28 -36% -0.57 -54% Sales 2.08 2.16 2.08 2.13 2.27 0.14 +6% 0.19 +9% V
Slide 20: Progress Made Toward FY2026 Full-Year Targets
3. Progress Made in Each Business Segment Progress Made Toward FY2026 Full-Year Targets FY25 Results 25％ 50％ 75％ YoY Sales 41％ ¥14.7bn ¥35.4bn ¥36.9bn -4% Game Operating profit 38% ¥1.3bn ¥3.4bn ¥4.6bn -26% Sales 38% ¥4.4bn ¥11.6bn ¥8.3bn +40% VTuber Operating profit 31% ¥0.6bn ¥1.8bn ¥0.7bn +177% S
Slide 21: Earnings Estimates and Forecast by Segment
3. Progress Made in Each Business Segment Earnings Estimates and Forecast by Segment Billions of yen FY25 FY26 3Q FY26 Full-Year FY26 2Q Full-Year Estimates QoQ Forecast YoY Results Results Sales 7.41 0.26 +4% 35.4 -1.5 -4% 7.15 36.9 Game Operating profit 0.43 -0.06 -12% 3.4 -1.2 -26% 0.50 4.6 Sales
Slide 22: Game Business
Game Business Senior Vice President Yota Yanagihara Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 23: Game Business: Sales and Operating Profit
3. Progress Made in Each Business Segment: Game Business Sales and Operating Profit Sales Operating Profit Billions of yen QoQ -5% YoY -24% Billions of yen QoQ -36% YoY -54% 16.8 16.5 3.4 15.9 15.3 3.1 13.0 12.7 2.7 12.6 12.4 12.4 12.4 12.2 12.1 11.7 2.4 2.5 11.4 11.2 10.9 10.8 2.2 2.2 10.0 2.1 9.1
Slide 24: 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 -5% YoY -24% / Operating Profit: QoQ -36% YoY -54% Billions of yen ◼ Although sales were slightly lower 9.45 9.71 9.06 due to a higher ratio of titles with 18.0% d
Slide 25: 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 -5% YoY -28% / Operating Profit: QoQ +9% YoY -5% Billions of yen ◼ Although sales were slightly lower 7.70 7.93 7.39 due to a higher ratio of titles with 18.7% diffe
Slide 26: Console Game Business
3. Progress Made in Each Business Segment: Game Business Console Game Business Sales and Operating Profit Focus Points Sales: QoQ ---% YoY ---% / Operating Profit: QoQ -¥0.25bn YoY -¥0.47bn Billions of yen ◼ We made progress on development of a console game based on first- 0.00 0.00 0.00 0.00 0.00 0
Slide 27: Game Business 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 ～FY25(Released) FY26 FY27 FY28～ Released February 2022 Reached top sales ranki
Slide 28: Earnings Estimates (3Q FY26)
3. Progress Made in Each Business Segment: Game Business Earnings Estimates (3Q FY26) Sales and Operating Profit Focus Points Sales: QoQ +4% YoY -24% / Operating Profit: QoQ -12% YoY -67% Billions of yen ◼ We have set a conservative sales 9.71 9.06 forecast at a level that we are confident we can ac
Slide 29: Earnings Forecast and Estimates (Full-Year FY26)
3. Progress Made in Each Business Segment: Game Business Earnings Forecast and Estimates (Full-Year FY26) Sales and Operating Profit Focus Points Sales: YoY -18% / Operating Profit: YoY -36% Billions of yen 43.1 ◼ Based on recent trends in existing titles and expected trends in 2H, we 36.9 35.4 expe
Slide 30: Medium-term Targets
3. Progress Made in Each Business Segment: Game Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(26-28)：37% Billions of yen 43.1 ◼ We conservatively factor in earnings contribution from new 36.9 35.7 titles 30.3 31.3 ◼ We will focus on leveraging our strong track reco
Slide 31: VTuber Business
VTuber Business Senior Vice President Eiji Araki Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 32: VTuber Business: Sales and Operating Profit
3. Progress Made in Each Business Segment: VTuber Business Sales and Operating Profit Sales Operating Profit Billions of yen QoQ +6% YoY +9% Billions of yen QoQ -42% YoY +105% 2.3 0.4 2.2 2.1 2.1 2.1 0.3 2.0 2.0 1.9 1.8 1.8 0.2 1.7 1.6 1.6 1.5 0.1 1.5 0.10.1 0.1 0.1 0.1 0.1 0.1 1.3 0.1 0.1 1.2 1.1 0
Slide 33: Summary of the VTuber Business
3. Progress Made in Each Business Segment: VTuber Business Summary of the VTuber Business Sales and Operating Profit Focus Points Sales: QoQ +6% YoY +9% / Operating Profit: QoQ -42% YoY +105% Billions of yen 2.27 ◼ The Production Business continued 2.16 2.13 2.08 2.08 to deliver strong growth, with
Slide 34: Platform Business (REALITY, Inc.)
3. Progress Made in Each Business Segment: VTuber Business Platform Business (REALITY, Inc.) Sales and Operating Profit Focus Points Sales: QoQ -2% YoY -3% / Operating Profit: QoQ -19% YoY +4% Billions of yen 1.78 ◼ Sales remained stable at roughly 1.77 1.76 1.73 1.69 the same level as in 1Q 27.5% 2
Slide 35: Production Business (REALITY Studios, Inc.)
3. Progress Made in Each Business Segment: VTuber Business Production Business (REALITY Studios, Inc.) Sales and Operating Profit Focus Points Sales: QoQ +50% YoY +92% / Operating Profit: QoQ -¥0.06bn YoY +¥0.11bn Billions of yen 0.55 ◼ Sales reached a record high on seasonal demand and contribution
Slide 36: Earnings Estimates (3Q FY26)
3. Progress Made in Each Business Segment: VTuber Business Earnings Estimates (3Q FY26) Sales and Operating Profit Focus Points Sales: QoQ +25% YoY +31% / Operating Profit: QoQ +177% YoY +84% Billions of yen 2.82 ◼ In the Production Business, we plan 20.1% to participate in large-scale 2.27 overseas
Slide 37: Earnings Forecast and Estimates (Full-Year FY26)
3. Progress Made in Each Business Segment: VTuber Business Earnings Forecast and Estimates (Full-Year FY26) Sales and Operating Profit Focus Points Sales: YoY +32% / Operating Profit: YoY +206% Billions of yen 11.6 ◼ While the Platform Business 10.9 continues to perform steadily, we expect sales to
Slide 38: Medium-term Targets
3. Progress Made in Each Business Segment: VTuber Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(26-28)：38% Billions of yen 17.9 ◼ We expect the Production Business to achieve full-year profitability and 14.9 contribute to overall segment earnings in FY27 10.9 ◼ In
Slide 39: IP Business
IP Business Senior Vice President Eiji Araki Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 40: IP Business: Sales and Operating Profit
3. Progress Made in Each Business Segment: IP Business Sales and Operating Profit Sales Operating Profit Billions of yen QoQ +41% YoY -0% Billions of yen QoQ +¥0.14bn YoY -53% 0.6 0.6 0.3 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.3 0.4 0.4 0.4 0.4 0.2 0.4 0.2 0.4 0.4 0.4 0.4 0.4 0.2 0.2 0.3 0.2
Slide 41: 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 +41% YoY -0% / Operating Profit: QoQ +¥0.14bn YoY -53% Billions of yen ◼ Sales and profit rose QoQ in the 0.51 0.51 Anime Business on recognition of 26.0% 0.43 revenue
Slide 42: Anime Business
3. Progress Made in Each Business Segment: IP Business Anime Business Sales and Operating Profit Focus Points Sales: QoQ +106% YoY -2% / Operating Profit: QoQ +¥0.17bn YoY -74% Billions of yen ◼ Sales and profit rose QoQ on 0.24 0.24 recognition of revenue deferred 30.2% 0.20 from 1Q 15.8% 8.0% 0.15
Slide 43: Plan for the Anime Business
3. Progress Made in Each Business Segment: IP Business Plan for the Anime Business We aim to further stabilize earnings through the acquisition of anime production capabilities over the medium-to- long term by developing flagship titles into series and securing recurring licensing earnings while ste
Slide 44: Merchandising Business
3. Progress Made in Each Business Segment: IP Business Merchandising Business Sales and Operating Profit Focus Points Sales: QoQ ---% YoY -100% / Operating Profit: QoQ -¥0.01bn YoY -¥0.01bn Billions of yen 0.02 ◼ We are considering launching businesses via in-house production and M&A 0.01 0.0% 0.0%
Slide 45: Entertainment Solution Business
3. Progress Made in Each Business Segment: IP Business Entertainment Solution Business Sales and Operating Profit Focus Points Sales: QoQ +133% YoY +34% / Operating Profit: QoQ -¥0.01bn YoY -¥0.04bn Billions of yen ◼ We made progress in our AI e-book 0.04 translation business and aim to 0.03 achieve
Slide 46: Earnings Estimates (3Q FY26)
3. Progress Made in Each Business Segment: IP Business Earnings Estimates (3Q FY26) Sales and Operating Profit Focus Points Sales: QoQ -30% YoY -17% / Operating Profit: QoQ -264% YoY -263% Billions of yen 0.51 ◼ We expect sales and profit to decline QoQ in response to earnings 0.43 posted owing to o
Slide 47: Earnings Forecast and Estimates (Full-Year FY26)
3. Progress Made in Each Business Segment: IP Business Earnings Forecast and Estimates (Full-Year FY26) Sales and Operating Profit Focus Points Sales: YoY +21% / Operating Profit: YoY -96% Billions of yen ◼ Results are trending generally in 2.2 2.1 line with our forecast 1.8 1.7 0.3 0.2 -0.0 0.0 Res
Slide 48: Medium-term Targets
3. Progress Made in Each Business Segment: IP Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(26-28)：708% Billions of yen 3.8 ◼ We target an uptrend in sales and profit in FY27 on overlapping 3.1 contributions from past investment projects in the anime business and t
Slide 49: DX Business
DX Business Vice President Kazuhisa Adachi Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 50: DX Business: Sales and Operating Profit
3. Progress Made in Each Business Segment: DX Business Sales and Operating Profit Sales Operating Profit Billions of yen QoQ -4% YoY +5% Billions of yen QoQ -32% YoY -18% 1.9 1.8 1.8 0.3 1.8 1.8 1.8 1.8 1.7 1.8 1.8 1.7 0.3 1.7 1.7 0.3 1.6 1.6 1.6 1.6 0.3 0.3 1.5 1.5 1.5 1.5 0.3 1.5 0.3 0.2 0.2 0.2 0
Slide 51: 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 -4% YoY +5% / Operating Profit: QoQ -32% YoY -18% Billions of yen 1.92 ◼ Although sales and profit declined 1.79 1.84 QoQ on the winding down of the 1.75 1.75 impact o
Slide 52: DX Solutions Business
3. Progress Made in Each Business Segment: DX Business DX Solutions Business Sales and Operating Profit Focus Points Sales: QoQ +11% YoY +1% / Operating Profit: QoQ +¥0.03bn YoY -75% Billions of yen 0.77 ◼ Despite a continued decline in the 0.73 0.74 0.74 outsourcing business, sales and 0.67 profit
Slide 53: DX Consulting Business
3. Progress Made in Each Business Segment: DX Business DX Consulting Business Sales and Operating Profit Focus Points Sales: QoQ -11% YoY +12% / Operating Profit: QoQ -48% YoY +15% Billions of yen 0.97 ◼ Sales and profit declined QoQ after posting earnings from a large 22.4% 0.86 project in 1Q 0.76
Slide 54: Earnings Estimates (3Q FY26)
3. Progress Made in Each Business Segment: DX Business Earnings Estimates (3Q FY26) Sales and Operating Profit Focus Points Sales: QoQ +3% YoY +6% / Operating Profit: QoQ +12% YoY -24% Billions of yen 1.92 1.89 ◼ We expect sales and profit to 1.84 1.79 1.75 increase QoQ on continued growth in the DX
Slide 55: Earnings Forecast and Estimates (Full-Year FY26)
3. Progress Made in Each Business Segment: DX Business Earnings Forecast and Estimates (Full-Year FY26) Sales and Operating Profit Focus Points Sales: YoY +20% / Operating Profit: YoY +2% Billions of yen ◼ While we expect sales to fall short 8.9 of our forecast, we target operating 8.5 profit above
Slide 56: Medium-term Targets
3. Progress Made in Each Business Segment: DX Business Medium-term Targets Sales and Operating Profit Focus Points Profit CAGR(26-28)：17% Billions of yen 12.2 ◼ We aim to complete the transition 11.0 to a recurring-earnings-type business structure and firmly underpin the group’s profit base 8.5 as a
Slide 57: Investment Business
Investment Business Senior Vice President, Chief Financial Officer Toshiki Oya Copyright © GREE Holdings, Inc. All Rights Reserved.
Slide 58: Investment Business: Sales and Operating Profit
3. Progress Made in Each Business Segment: Investment Business Sales and Operating Profit Sales Operating Profit Billions of yen QoQ -27% YoY -70% Billions of yen QoQ -¥0.15bn YoY -118% 4.1 3.4 2.8 3.1 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 0.7 0.8 0.5 0.5 0.6 0.6 0.6 0.5 0.4 0.5 0.4 0.
Slide 59: 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 -27% YoY -70% / Operating Profit: QoQ -¥0.15bn YoY -118% Billions of yen ◼ Although distribution levels from 1.85 investment funds were normal during t
Slide 60: Summary of the Investment Business: Long-term Profit Trends
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 61: 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 2Q Billions of yen Book value Valuation of investments ◼ Investment in 4 VC funds in Japan 38.9 40.9 and t
Slide 62: 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 63: 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 -47% YoY -62% / Operating Profit: QoQ -68% YoY -81% Billions of yen ◼ Secured stable management fee 0.93 revenue through continuous 71.9% formati
Slide 64: Fund Investment Management Business (GP): AUM
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 55.1 ◼ Total commitment, on which 53.0 49.6 50.3 50.9 management fee income is based, has re
Slide 65: Contents: Appendix
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 66: 2Q Operating Profit Analysis (Consolidated)
4. Appendix: Financial Results Overview 2Q Operating Profit Analysis (Consolidated) Profit down QoQ, operating profit was ¥0.4 billion Billions of yen ¥0.67bn Decrease 1.07 -0.06 -0.03 -0.58 Decrease in Increase in sales variable costs 0.40 Increase in Operating fixed costs Operating profit profit F
Slide 67: 2Q FY26 Cost Structure (Consolidated, variable and fixed costs)
4. Appendix: Financial Results Overview 2Q FY26 Cost Structure (Consolidated, variable and fixed costs) Total costs up ¥0.6 billion QoQ, to ¥12.3 billion Billions of yen FY26 FY26 FY25 Factors in change (QoQ) 2Q QoQ YoY 1Q 2Q Advertising 0.49 -0.12 -0.40 Reactive decline in promotional costs followi
Slide 68: 2Q FY26 Cost Structure (Consolidated, cost of sales and SG&A)
4. Appendix: Financial Results Overview 2Q FY26 Cost Structure (Consolidated, cost of sales and SG&A) Billions of yen FY26 FY26 FY25 2Q QoQ YoY 1Q 2Q Rental costs 0.53 0.21 0.02 0.31 0.51 Labor costs 2.55 0.29 0.18 2.27 2.37 Others 4.05 0.17 -0.13 3.88 4.18 Cost of sales 7.13 0.67 0.07 6.46 7.06 Adv
Slide 69: 2Q FY26 Balance Sheet (Consolidated)
4. Appendix: Financial Results Overview 2Q FY26 Balance Sheet (Consolidated) Billions of yen FY26 FY26 FY25 2Q QoQ YoY 1Q 2Q Current assets 109.2 -1.5 -0.9 110.6 110.1 Non-current assets 15.2 0.1 -0.8 15.1 16.0 Total assets 124.3 -1.4 -1.8 125.7 126.1 Current liabilities 19.2 4.1 -4.0 15.1 23.3 Non-
Slide 70: 2Q FY26 Balance Sheet (GREE Holdings, standalone basis)
4. Appendix: Financial Results Overview 2Q FY26 Balance Sheet (GREE Holdings, Inc., standalone basis) Billions of yen FY26 FY26 FY25 2Q QoQ YoY 1Q 2Q Current assets 70.1 -4.4 -5.2 74.5 75.4 Non-current assets 24.2 1.6 4.3 22.6 19.9 Total assets 94.3 -2.8 -0.9 97.1 95.2 Current liabilities 18.1 3.2 -
Slide 71: 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 72: 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 73: Financial Discipline
4. Appendix: Investment Business 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
Slide 74: Group Headcount
4. Appendix Group Headcount Number of employees 1,553 1,533 1,551 1,520 1,542 787 786 798 779 789 161 163 161 170 176 43 49 56 61 56 329 318 325 321 322 16 18 16 16 15 133 128 122 111 111 84 71 73 67 68 2Q 3Q 4Q 1Q 2Q FY25 FY26 Game VTuber IP DX Investment Common Others Notes: ● Figures for past fis
Slide 75: 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 76: 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 Live Service Game Business Parts of WFS, Inc. investment Game Excluding businesses browser Console Game Busi
Slide 77: Copyrights
4. Appendix Copyrights ©WFS Developed by WRIGHT FLYER STUDIOS ©VISUAL ARTS/Key © Taiki Kawakami, Fuse, KODANSHA/“Ten-Sura” Project © Shiba, Fuse, KODANSHA/“Ten-Sura Diary” Project ©Bandai Game Slide 27 Namco Entertainment Inc. ©2024 Magica Quartet/Aniplex,Magia Exedra Project 77 Copyright © GREE Hol
Slide 78: Forward-looking statements notice
◼ 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.