Sunday, May 19, 2013

GREE has a 65% decline in Q3 net profits compared to last year

GREE a leading Japanese developer of social and mobile games, has the financial report of its third quarter, and is not very promising. For the quarter ending 31 March, the company has had a major blow in their Old School RS Gold numbers, which has led to rethink things. According to the report, GREE income has fallen by 18% compared to last year, from 46,100 million to 37,800 million yen. In addition, the company's net profit fell by 65%, from 13,400 million yen 4,700 million, which is down more than important. This decline may be due to a loss of 4.030 million in Japan and overseas studies of the company, due to canceled projects. With this result GREE has had to revise its forecast for full fiscal year, and now expects to have a turnover of 150.000 billion, with a net profit of 24,000 million yen. Previously the same numbers were 160,000 million and 37,000 million, a small difference, right? The company will take a strategy of "selection and concentration", so that produce fewer games, but try to have more quality and improve the U.S. market.

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