New technological innovations have a tendency to create new business opportunities, and the latest craze, virtual reality, is no exception.

With the debut of cutting-edge VR headsets this year, many firms from video game makers, 360-degree-video distributors, arcade operators and cellphone carriers are gearing up to position themselves ahead of the curve so they can grab their slice of the VR pie.

One of the pioneering firms in Japan is Tokyo-based Gree Inc., originally a maker of cellphone games.