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Gree to shutter unit in London

JIJI

Japanese online game giant Gree Inc. will shut down a British unit in London and scale down a South Korean subsidiary in Seoul, sources said Wednesday.

Gree started overseas operations in 2011, but as those operations remain unprofitable, sources said it would focus on markets where it can expect profits, including North America.

The firm will also close business bases in Sao Paulo, Brazil, Dubai and Amsterdam, which have been used as footholds by Gree employees traveling from Japan. Gree’s bases abroad will fall to four, in Seoul, San Francisco, Vancouver, British Columbia, and Singapore.