GREE Holdings Inc (3632) Q2 2026 earnings summary

Executive summary

• Strong performance across all segments, with consolidated profit surpassing expectations due to improved margins.

• Net sales for the six months ended December 31, 2025, were ¥25,472 million, down 10.7% year-over-year, with operating profit at ¥1,468 million, down 30.6% year-over-year.

• Ordinary profit decreased 3.9% year-over-year to ¥2,074 million, while net profit attributable to owners rose 28.9% year-over-year to ¥1,231 million.

• Comprehensive income increased 46.9% year-over-year to ¥1,239 million.

• Segment reclassifications: IP Business established, Game and Anime Business renamed to Game Business, Metaverse Business renamed to VTuber Business.

Financial highlights

• Consolidated net sales: ¥12.7 billion for the quarter (QoQ -0.5%, YoY -18%).

• Operating profit: ¥0.4 billion for the quarter (QoQ -63%, YoY -82%).

• Net profit: ¥0.15 billion for the quarter (QoQ -86%, YoY -94%).

• EBITDA: ¥0.5 billion for the quarter (QoQ -57%, YoY -78%).

• Gross profit for the six months was ¥11,881 million, down from ¥14,770 million year-over-year.

Outlook and guidance

• 3Q FY26 forecast: Sales QoQ +5%, YoY -9%; operating profit QoQ +34%, YoY -53%.

• Full-year FY26 forecast revised to sales YoY -2%, operating profit YoY -17%.

• Medium-term targets: Return to growth in FY27, with profit CAGR (FY26–28) of 48%.

• Disclosure of consolidated earnings forecast for the fiscal year ending June 30, 2026, has been suspended due to rapid changes in the business environment, especially impacting the Investment Business.