Japanese social gaming company GREE (TYO:3632) has announced its Q2 FY11 financials for the three months ending December 31.

Net sales were ¥14.3 billion ($175 million), up 75 percent compared to Q2 FY10.

Net income was ¥4.2 billion ($51 million), up 29 percent.

The company ended the quarter with ¥21 billion ($256 million) in cash and deposits, up 23 percent from the total at the end of September.

Access all ages

GREE said it finished the quarter with 23.8 million mobile and PC users.

51 percent are male and 49 percent female, with 20 percent younger than 20, a third aged between 20 to 29, and 47 percent over the age of 30.

Its platform hosts around 560 titles from 240 developers; a significant increase from 100 games from 60 developers at the end of the past quarter.

Stepping up

As part of its switch from feature phones to smartphones, it's also released beta version of GREE for Android and iPhone, and will be backing these with the release of free social games and apps.

It's expanding geographically too. During the quarter, GREE signed agreements with Chinese internet provider Tencent and South East Asian/Indian mobile provider mig33, adding a potential 650 million people to GREE's userbase.

[source: GREE (PDF)]