GREE Holdings Inc (3632) Q3 2026 earnings summary

Executive summary

• Q3 FY26 profit exceeded expectations, mainly due to strong Game Business performance and successful anniversary campaigns for mainstay titles.

• Net sales for the nine months ended March 31, 2026, were ¥38,444 million, down 10.9% year-over-year, with operating profit at ¥2,420 million, down 34.7% year-over-year.

• Ordinary profit rose 11.1% year-over-year to ¥3,210 million, driven by significant foreign exchange gains.

• Net profit attributable to owners of parent surged 112.4% year-over-year to ¥1,912 million.

• All four main business segments contributed to profit growth, with notable improvements in VTuber and DX businesses.

Financial highlights

• Consolidated Q3 FY26: Net sales ¥13.0 billion, operating profit ¥1.0 billion, EBITDA ¥1.1 billion.

• Net profit was ¥0.68 billion, up 345% QoQ.

• Four Segments (excluding Investment): Net sales ¥12.7 billion, operating profit ¥1.6 billion, EBITDA ¥1.7 billion.

• Gross profit for the period was ¥18,009 million, down from ¥22,522 million year-over-year.

• Net profit per share increased to ¥11.14 from ¥5.26 year-over-year.

Outlook and guidance

• Full-year FY26 operating profit forecast raised to ¥4.4 billion, surpassing the initial target of ¥3.6 billion.

• Q4 FY26 sales expected to remain firm QoQ, with a projected operating profit decline due to a reactive drop in the Game Business.

• Medium-term targets anticipate a return to growth in FY27, with company-wide AI deployment and increased dividends.

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

• The company aims to expand content and services and improve stable profitability over the medium term.