Gree Inc planned to make acquisitions beyond its social-gaming focus. The announcement came amid four consecutive quarters of declining revenue. This was according to a report published by Bloomberg.

Gree director Jin Akiyama said of the planned acquisition: "We've narrowed down targets. We want to aggressively expand new businesses."

Akiyama, however, did not reveal other details of the potential deals, said the report.

The social games maker is presently on the lookout for new sources of growth and expansion. The company's sales have declined with the advent of free or inexpensive game apps on smartphones. Last month, Gree combined its game development divisions in Tokyo and San Francisco. This move aimed for faster and cheaper production of apps by the company. Akiyama said Gree has plans to cut 9% of its workforce through early retirement, the report said. 

In addition, Akiyama also said combining Gree's US and Japan divisions helped strengthen its new product portfolio. The company plans to release new apps in February next year, Bloomberg reported.