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GREE

TSE:3632
Snowflake Description

Flawless balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3632
TSE
¥119B
Market Cap
  1. Home
  2. JP
  3. Media
Company description

GREE, Inc., a technology company, engages in the online media business in Japan and internationally. The last earnings update was 41 days ago. More info.


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3632 Share Price and Events
7 Day Returns
-0.2%
TSE:3632
0.1%
JP Interactive Media and Services
0.1%
JP Market
1 Year Returns
11%
TSE:3632
19%
JP Interactive Media and Services
8.3%
JP Market
3632 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GREE (3632) -0.2% -3.6% 6% 11% -15.9% -29.9%
JP Interactive Media and Services 0.1% 7.7% 19.9% 19% 2.8% -4.1%
JP Market 0.1% 1.1% 10% 8.3% 14% 28%
1 Year Return vs Industry and Market
  • 3632 underperformed the Interactive Media and Services industry which returned 19% over the past year.
  • 3632 outperformed the Market in Japan which returned 8.3% over the past year.
Price Volatility
3632
Industry
5yr Volatility vs Market

3632 Value

 Is GREE undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of GREE to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for GREE.

TSE:3632 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year JP Government Bond Rate -0.1%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSE:3632
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Interactive Media and Services Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.042 (1 + (1- 30.86%) (0%))
1.028
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.028 * 6.33%)
6.42%

Discounted Cash Flow Calculation for TSE:3632 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for GREE is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSE:3632 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.42%)
2020 4,734.50 Analyst x2 4,448.92
2021 2,781.37 Analyst x6 2,455.95
2022 2,517.97 Analyst x5 2,089.25
2023 2,645.00 Analyst x2 2,062.28
2024 2,735.50 Analyst x2 2,004.19
2025 2,734.03 Est @ -0.05% 1,882.28
2026 2,732.26 Est @ -0.06% 1,767.60
2027 2,730.29 Est @ -0.07% 1,659.78
2028 2,728.17 Est @ -0.08% 1,558.46
2029 2,725.95 Est @ -0.08% 1,463.26
Present value of next 10 years cash flows ¥21,391.00
TSE:3632 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥2,725.95 × (1 + -0.09%) ÷ (6.42% – -0.09%)
¥41,841.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥41,841.26 ÷ (1 + 6.42%)10
¥22,459.92
TSE:3632 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥21,391.00 + ¥22,459.92
¥43,850.92
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥43,850.92 / 230.30
¥190.41
TSE:3632 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥190.41
Current discount Discount to share price of ¥515.00
= -1 x (¥515.00 - ¥190.41) / ¥190.41
-170.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of GREE is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GREE's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GREE's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:3632 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥10.20
TSE:3632 Share Price ** TSE (2019-12-10) in JPY ¥515
Japan Interactive Media and Services Industry PE Ratio Median Figure of 43 Publicly-Listed Interactive Media and Services Companies 40.57x
Japan Market PE Ratio Median Figure of 3,068 Publicly-Listed Companies 15.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of GREE.

TSE:3632 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:3632 Share Price ÷ EPS (both in JPY)

= 515 ÷ 10.20

50.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GREE is overvalued based on earnings compared to the JP Interactive Media and Services industry average.
  • GREE is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does GREE's expected growth come at a high price?
Raw Data
TSE:3632 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 50.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-2.6%per year
Japan Interactive Media and Services Industry PEG Ratio Median Figure of 24 Publicly-Listed Interactive Media and Services Companies 1.92x
Japan Market PEG Ratio Median Figure of 1,367 Publicly-Listed Companies 1.88x

*Line of best fit is calculated by linear regression .

TSE:3632 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 50.49x ÷ -2.6%

-19.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GREE earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GREE's assets?
Raw Data
TSE:3632 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥485.06
TSE:3632 Share Price * TSE (2019-12-10) in JPY ¥515
Japan Interactive Media and Services Industry PB Ratio Median Figure of 50 Publicly-Listed Interactive Media and Services Companies 4.46x
Japan Market PB Ratio Median Figure of 3,527 Publicly-Listed Companies 1.13x
TSE:3632 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:3632 Share Price ÷ Book Value per Share (both in JPY)

= 515 ÷ 485.06

1.06x

* Primary Listing of GREE.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GREE is good value based on assets compared to the JP Interactive Media and Services industry average.
X
Value checks
We assess GREE's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Interactive Media and Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Interactive Media and Services industry average (and greater than 0)? (1 check)
  5. GREE has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3632 Future Performance

 How is GREE expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GREE expected to grow at an attractive rate?
  • GREE's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.1%.
Growth vs Market Checks
  • GREE's earnings are expected to decrease over the next 1-3 years, this is below the Japan market average.
  • GREE's revenues are expected to decrease over the next 1-3 years, this is below the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:3632 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:3632 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -2.6%
TSE:3632 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -0.5%
Japan Interactive Media and Services Industry Earnings Growth Rate Market Cap Weighted Average 27.4%
Japan Interactive Media and Services Industry Revenue Growth Rate Market Cap Weighted Average 8.6%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.4%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSE:3632 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:3632 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30 61,700 2,725 2,200 1
2023-06-30 66,493 3,084 2,600 2
2022-06-30 70,212 5,042 4,539 6
2021-06-30 68,941 4,637 3,937 7
2020-06-30 67,310 4,652 3,974 6
2019-12-10
TSE:3632 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 68,578 2,387
2019-06-30 70,936 7,258 3,485
2019-03-31 72,503 2,376
2018-12-31 72,736 9,552 3,054
2018-09-30 74,468 4,887
2018-06-30 77,925 9,127 4,708
2018-03-31 78,180 3,628
2017-12-31 76,188 7,888 3,304
2017-09-30 72,077 3,197
2017-06-30 65,369 11,652 12,116
2017-03-31 61,768 16,301
2016-12-31 62,697 12,322 16,168

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GREE's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • GREE's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSE:3632 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from GREE Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:3632 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30 9.60 9.60 9.60 1.00
2023-06-30 9.30 11.30 7.30 2.00
2022-06-30 17.58 33.00 7.60 6.00
2021-06-30 16.97 29.10 10.31 7.00
2020-06-30 17.13 24.80 14.06 6.00
2019-12-10
TSE:3632 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 10.20
2019-06-30 14.80
2019-03-31 10.08
2018-12-31 13.02
2018-09-30 20.81
2018-06-30 20.01
2018-03-31 15.42
2017-12-31 13.99
2017-09-30 13.57
2017-06-30 51.61
2017-03-31 69.50
2016-12-31 69.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • GREE is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GREE's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Japan market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Japan market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
GREE has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3632 Past Performance

  How has GREE performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GREE's growth in the last year to its industry (Interactive Media and Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • GREE's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • GREE's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GREE's 1-year earnings growth is negative, it can't be compared to the JP Interactive Media and Services industry average.
Earnings and Revenue History
GREE's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from GREE Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:3632 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 68,578.00 2,387.00 32,896.00
2019-06-30 70,936.00 3,485.00 34,059.00
2019-03-31 72,503.00 2,376.00 34,685.00
2018-12-31 72,736.00 3,054.00 34,510.00
2018-09-30 74,468.00 4,887.00 35,528.00
2018-06-30 77,925.00 4,708.00 37,679.00
2018-03-31 78,180.00 3,628.00 38,220.00
2017-12-31 76,188.00 3,304.00 38,689.00
2017-09-30 72,077.00 3,197.00 38,184.00
2017-06-30 65,369.00 12,116.00 35,133.00
2017-03-31 61,768.00 16,301.00 34,437.00
2016-12-31 62,697.00 16,168.00 34,660.00
2016-09-30 65,476.00 16,831.00 35,497.00
2016-06-30 69,878.00 8,402.00 37,469.00
2016-03-31 75,168.00 -1,444.00 38,655.00
2015-12-31 80,347.00 -1,206.00 40,829.00
2015-09-30 86,343.00 -11,403.00 43,907.00
2015-06-30 92,456.00 -10,322.00 47,013.00
2015-03-31 98,110.00 271.00 50,779.00
2014-12-31 107,194.00 3,340.00 53,857.00
2014-09-30 115,691.00 18,418.00 56,259.00
2014-06-30 125,598.00 17,347.00 61,089.00
2014-03-31 136,025.00 14,255.00 69,810.00
2013-12-31 142,845.00 14,224.00 76,203.00
2013-09-30 149,631.00 15,849.00 79,854.00
2013-06-30 152,238.00 22,514.00 79,662.00
2013-03-31 155,315.00 35,154.00 73,232.00
2012-12-31 163,612.00 43,895.00 70,772.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • GREE has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GREE used its assets less efficiently than the JP Interactive Media and Services industry average last year based on Return on Assets.
  • GREE's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess GREE's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Interactive Media and Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
GREE has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3632 Health

 How is GREE's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up GREE's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GREE is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GREE's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GREE's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • GREE has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from GREE Company Filings, last reported 2 months ago.

TSE:3632 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 111,760.00 0.00 84,897.00
2019-06-30 110,667.00 0.00 84,472.00
2019-03-31 113,456.00 0.00 86,337.00
2018-12-31 112,303.00 0.00 86,990.00
2018-09-30 112,017.00 0.00 84,542.00
2018-06-30 113,035.00 0.00 87,196.00
2018-03-31 113,688.00 0.00 85,801.00
2017-12-31 111,409.00 0.00 83,035.00
2017-09-30 109,116.00 0.00 81,940.00
2017-06-30 109,883.00 0.00 82,382.00
2017-03-31 112,158.00 0.00 79,404.00
2016-12-31 111,168.00 0.00 82,188.00
2016-09-30 109,270.00 0.00 81,638.00
2016-06-30 102,603.00 25.00 80,190.00
2016-03-31 99,888.00 0.00 77,358.00
2015-12-31 97,419.00 0.00 76,932.00
2015-09-30 94,915.00 760.00 72,986.00
2015-06-30 95,015.00 1,600.00 79,660.00
2015-03-31 107,592.00 4,268.00 76,783.00
2014-12-31 109,258.00 6,620.00 77,083.00
2014-09-30 114,808.00 8,972.00 65,615.00
2014-06-30 114,021.00 11,324.00 65,840.00
2014-03-31 110,947.00 13,676.00 60,059.00
2013-12-31 106,430.00 16,028.00 55,374.00
2013-09-30 96,674.00 18,380.00 47,315.00
2013-06-30 98,068.00 20,732.00 48,514.00
2013-03-31 98,500.00 22,084.00 37,171.00
2012-12-31 95,184.00 24,436.00 42,933.00
  • GREE has no debt.
  • GREE has no debt compared to 5 years ago when it was 7.8%.
  • GREE has no debt, it does not need to be covered by operating cash flow.
  • GREE has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess GREE's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GREE has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3632 Dividends

 What is GREE's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.94%
Current annual income from GREE dividends. Estimated to be 2.06% next year.
If you bought ¥2,000 of GREE shares you are expected to receive ¥39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • GREE's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.33%).
  • GREE's dividend is below the markets top 25% of dividend payers in Japan (2.93%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSE:3632 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Japan Interactive Media and Services Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.1%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2973 Stocks 2.3%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.8%
Japan Bottom 25% Dividend Yield 25th Percentile 1.3%
Japan Top 25% Dividend Yield 75th Percentile 2.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSE:3632 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-06-30 10.00 1.00
2023-06-30 10.00 1.00
2022-06-30 11.00 6.00
2021-06-30 10.71 7.00
2020-06-30 10.29 7.00
2019-12-10
TSE:3632 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-05 10.000 1.922
2019-08-02 10.000 2.057
2018-09-27 10.000 2.081
2018-08-02 10.000 1.846
2017-09-27 11.000 1.644
2017-08-03 11.000 1.360
2016-09-28 8.000 1.121
2016-08-04 8.000 1.529
2016-04-28 0.000 0.000
2016-02-04 0.000 0.000
2015-10-29 0.000 0.000
2015-09-30 0.000 0.000
2015-08-05 0.000 0.000
2015-02-04 10.000 1.351
2014-09-29 11.000 1.481
2014-08-13 11.000 1.361
2013-09-30 14.000 1.491
2013-08-14 14.000 1.755
2012-09-26 30.000 2.644
2012-08-14 30.000 2.115
2011-09-28 9.000 0.463
2011-08-08 9.000 0.393
2010-09-29 3.000 0.227
2010-08-13 3.000 0.227
2009-09-30 0.500 0.045
2009-07-30 0.500 0.060

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of GREE's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess GREE's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can GREE afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GREE has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3632 Management

 What is the CEO of GREE's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yoshikazu Tanaka
COMPENSATION ¥165,000,000
AGE 42
CEO Bio

Mr. Yoshikazu Tanaka founded Gree, Inc. in December 2004 and has been its Chairman since September 2014. Mr. Tanaka has been President of Gree, Inc., since 2004 and serves as its Chief Executive Officer. Mr. Tanaka serves as Chief Executive Officer at GREE International, Inc. He serves as Director at AnimatiC Inc. Mr. Tanaka serves as Member of Advisory Board at Now Inc. He previously served as Managing Partner and Chief Executive Officer at GREE Ventures, Inc. He previously served as Managing Executive Officer at Yonekyu Corporation. Mr. Tanaka earned a bachelor's degree in law from Nihon University in 1999.

CEO Compensation
  • Yoshikazu's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Yoshikazu's remuneration is lower than average for companies of similar size in Japan.
Management Team Tenure

Average tenure and age of the GREE management team in years:

2.3
Average Tenure
40
Average Age
  • The tenure for the GREE management team is about average.
Management Team

Yoshikazu Tanaka

TITLE
Founder
COMPENSATION
¥165M
AGE
42

Toshiki Oya

TITLE
Senior VP
TENURE
0.2 yrs

Masaki Fujimoto

TITLE
Senior VP
AGE
40
TENURE
14.5 yrs

Sanku Shino

TITLE
Senior VP
AGE
45

Eiji Araki

TITLE
Senior VP
AGE
37
TENURE
2.3 yrs

Yuta Maeda

TITLE
Senior VP
AGE
37
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the GREE board of directors in years:

6.3
Average Tenure
43
Average Age
  • The tenure for the GREE board of directors is about average.
Board of Directors

Yoshikazu Tanaka

TITLE
Founder
COMPENSATION
¥165M
AGE
42
TENURE
5.3 yrs

Toshiki Oya

TITLE
Senior VP
TENURE
1.3 yrs

Masaki Fujimoto

TITLE
Senior VP
AGE
40

Sanku Shino

TITLE
Senior VP
AGE
45
TENURE
6.3 yrs

Eiji Araki

TITLE
Senior VP
AGE
37
TENURE
6.3 yrs

Yuta Maeda

TITLE
Senior VP
AGE
37
TENURE
6.3 yrs

Takeshi Natsuno

TITLE
External Director
AGE
54
TENURE
10.3 yrs

Kotaro Yamagishi

TITLE
Co-Founder & Director
AGE
43
TENURE
14.5 yrs

Kazunobu Iijima

TITLE
External Director
AGE
72
TENURE
7.3 yrs

Toru Nagasawa

TITLE
Corporate Auditor
AGE
60
TENURE
12.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (¥) Value (¥)
X
Management checks
We assess GREE's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GREE has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3632 News

Simply Wall St News

3632 Company Info

Description

GREE, Inc., a technology company, engages in the online media business in Japan and internationally. The company offers various mobile social games through GREE Platform, App Store, and Google Play; and develops and operates messenger games for Facebook and LINE. It also engages in the live entertainment business specializing in the virtual YouTuber (VTuber). The company discovers, produces, and manages VTubers; creates and distributes video programs of VTubers; develops and publishes platforms; and provides studio systems, as well as offers financial support for creators and start-ups. In addition, the company operates MINE, an online video magazine that features women's fashion, beauty, and lifestyle topics; LIMIA, an online magazine that features home and living lifestyle content; ARINE, an online magazine for young women; aumo, an online lifestyle magazine; and moguna, an online video recipe magazine. Further, it provides solutions for IT advertising and marketing business; and invests in Internet business related technology services companies. GREE, Inc. was founded in 2004 and is headquartered in Tokyo, Japan.

Details
Name: GREE, Inc.
3632
Exchange: TSE
Founded: 2004
¥118,601,980,620
230,295,108
Website: http://www.gree.co.jp
Address: GREE, Inc.
Roppongi Hills Mori Tower,
6-10-1 Roppongi,
Tokyo,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 3632 Common Shares The Tokyo Stock Exchange JP JPY 17. Dec 2008
OTCPK GREZ.F Common Shares Pink Sheets LLC US USD 17. Dec 2008
DB V3U Common Shares Deutsche Boerse AG DE EUR 17. Dec 2008
Number of employees
Current staff
Staff numbers
1,685
GREE employees.
Industry
Interactive Media and Services
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/10 15:29
End of day share price update: 2019/12/10 00:00
Last estimates confirmation: 2019/12/09
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.