GREE Holdings, Inc.

TSE:3632 Stock Report

Market Cap: JP¥66.5b

GREE Holdings Past Earnings Performance

Past criteria checks 2/6

GREE Holdings's earnings have been declining at an average annual rate of -31.7%, while the Entertainment industry saw earnings growing at 7.7% annually. Revenues have been declining at an average rate of 3% per year. GREE Holdings's return on equity is 2.3%, and it has net margins of 4.2%.

Key information

-31.72%

Earnings growth rate

-27.05%

EPS growth rate

Entertainment Industry Growth17.91%
Revenue growth rate-3.00%
Return on equity2.26%
Net Margin4.21%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Narrative Update • Jan 23

3632: Lower Discount Rate And Margin Outlook Will Support Future Upside

Analysts kept their fair value estimate for GREE Holdings steady at ¥630. They cited a slightly lower discount rate and revenue contraction assumptions, a small uplift in profit margin expectations, and a modestly reduced future P/E multiple as the key drivers behind the unchanged price target.
Narrative Update • Jan 08

3632: Lower Discount Rate And Margin Outlook Will Support Future Upside

Analysts have inched up their price target on GREE Holdings, pointing to slightly lower assumed discount rates, a small improvement in long term profit margins, and a marginally lower future P/E multiple as the key drivers behind the adjustment. Valuation Changes Fair Value: Model fair value is unchanged at ¥630.
Narrative Update • Dec 13

3632: Future Multiple Expansion Will Drive Stronger Share Performance

Analysts have raised their price target on GREE Holdings by approximately ¥50, attributing the upward revision to a lower perceived discount rate and expectations for a richer future valuation multiple, even though they have adopted more cautious assumptions on revenue growth and profit margins. Valuation Changes Fair Value has risen moderately from ¥580 to ¥630, reflecting a higher intrinsic valuation estimate for GREE Holdings.
Analysis Article • May 15

GREE Holdings (TSE:3632) Has Announced That Its Dividend Will Be Reduced To ¥14.50

The board of GREE Holdings, Inc. ( TSE:3632 ) has announced it will be reducing its dividend by 12% from last year's...
Analysis Article • Apr 06

GREE Holdings, Inc.'s (TSE:3632) Intrinsic Value Is Potentially 39% Above Its Share Price

Key Insights Using the 2 Stage Free Cash Flow to Equity, GREE Holdings fair value estimate is JP¥761 GREE Holdings...
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New Narrative • Feb 18

Game And Anime Business Will Enter Console Games Market For Long-Term Success

Expansion in the Metaverse and DX Businesses predicts enhanced revenue growth and profit starting 2027, driven by new SaaS products and stable revenue streams.
Analysis Article • Feb 13

Earnings Not Telling The Story For GREE Holdings, Inc. (TSE:3632) After Shares Rise 26%

GREE Holdings, Inc. ( TSE:3632 ) shares have continued their recent momentum with a 26% gain in the last month alone...
Analysis Article • May 11

GREE's (TSE:3632) Shareholders Will Receive A Bigger Dividend Than Last Year

The board of GREE, Inc. ( TSE:3632 ) has announced that the dividend on 26th of August will be increased to ¥16.50...

Revenue & Expenses Breakdown

How GREE Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

TSE:3632 Revenue, expenses and earnings (JPY Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 2652,4192,20621,1230
31 Dec 2554,0631,47022,1060
30 Sep 2556,9353,91623,2010
30 Jun 2557,1111,19424,3480
31 Mar 2557,2462,32924,9990
31 Dec 2459,8024,86526,5050
30 Sep 2458,4631,80327,1050
30 Jun 2461,3094,63028,2580
31 Mar 2467,3198,31230,3900
31 Dec 2372,2989,06433,0390
30 Sep 2374,6378,64833,6920
30 Jun 2375,4409,27834,1100
31 Mar 2376,1957,68234,7870
31 Dec 2274,8917,40134,0920
30 Sep 2277,82210,06135,1220
30 Jun 2274,90610,12133,3540
31 Mar 2267,97710,81330,9410
31 Dec 2161,03612,94227,2460
30 Sep 2155,20214,15425,3280
30 Jun 2156,76613,53326,1700
31 Mar 2157,8147,31727,7980
31 Dec 2059,3443,41828,9940
30 Sep 2062,1042,97630,4150
30 Jun 2062,6652,70930,9000
31 Mar 2065,0834,75631,4900
31 Dec 1967,2864,78432,6290
30 Sep 1968,5782,38732,8960
30 Jun 1970,9363,48534,0590
31 Mar 1972,5032,37634,6850
31 Dec 1872,7363,05434,5100
30 Sep 1874,4684,88735,5280
30 Jun 1877,9254,70837,6790
31 Mar 1878,1803,62838,2200
31 Dec 1776,1883,30438,6890
30 Sep 1772,0773,19738,1840
30 Jun 1765,36912,11635,1330
31 Mar 1761,76816,30134,4370
31 Dec 1662,69716,16834,6600
30 Sep 1665,47616,83135,4970
30 Jun 1669,8788,40237,4690
31 Mar 1675,168-1,44438,6550
31 Dec 1580,347-1,20640,8290
30 Sep 1586,343-11,40343,9070
30 Jun 1592,456-10,32247,0130

Quality Earnings: 3632 has high quality earnings.

Growing Profit Margin: 3632's current net profit margins (4.2%) are higher than last year (4.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 3632's earnings have declined by 31.7% per year over the past 5 years.

Accelerating Growth: 3632's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3632 had negative earnings growth (-5.3%) over the past year, making it difficult to compare to the Entertainment industry average (13.2%).

Return on Equity

High ROE: 3632's Return on Equity (2.3%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/16 01:35
End of Day Share Price 2026/06/16 00:00
Earnings2026/03/31
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

GREE Holdings, Inc. is covered by 20 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Keiichi YoneshimaBarclays
Yosuke TomimatsuBofA Global Research
Soichiro FukudaCitigroup Inc