Bushiroad FY2025 Q3 Financial Results Briefing Material

Key insights

7 takeaways

01
Bushiroad's TCG unit, which represents approximately half of the group's business, reported net sales of 6,875 million yen, a year-over-year increase of 2,405 million yen.See it on page 21
02
The company recorded a foreign exchange loss of 334 million yen for the period, with the USD exchange rate shifting from 158.18 yen in December 2024 to 149.52 yen in March 2025.See it on page 6
03
The Contents unit achieved net sales of 1,971 million yen, up 67 million yen year-over-year, driven by the strong performance of the 'BanG Dream! Girls Band Party!' mobile game's 8th anniversary.See it on page 22
04
New Japan Pro-Wrestling and STARDOM reported 1,850 million yen in net sales, but operating profit was limited to 141 million yen, a year-over-year decline of 97 million yen.See it on page 29
05
Total SG&A expenses were 3,516 million yen, reflecting a 128 million yen year-over-year decrease, largely due to lower-than-planned TV commercial spending despite large-scale billboard campaigns.See it on page 11
06
The company plans to release English editions of the 'GODZILLA CARD GAME' and 'hololive OFFICIAL CARD GAME' in July 2025 to expand its international TCG footprint.See it on page 19
07
Bushiroad is expanding its shareholder benefits program effective June 30, 2025, to include a lottery for invitations to paid group events in addition to existing online store points.See it on page 32

Summary

Bushiroad’s fiscal year 2025 third-quarter performance demonstrates a robust expansion of its intellectual property strategy, resulting in a second upward revision of its full-year consolidated financial forecast. The company achieved net sales of 11,790 million yen, primarily propelled by sustained growth in the trading card game unit across both domestic and international markets. This financial momentum persists despite a projected 120 million yen profit impact stemming from U.S. tariffs and the inherent seasonal fluctuations associated with live entertainment and merchandise cycles.

The company’s operational focus centers on its identity as an IP developer, leveraging diversified merchandise initiatives such as the newly launched BUSHIROAD PRIZE brand and the ongoing development of PalVerse figures. While the live entertainment and sports segments experienced a seasonal lull in large-scale events, they consistently outperformed internal business plans. Notably, the BanG Dream! franchise reached record-breaking attendance levels, and the sports division successfully executed high-profile, two-day events at the Tokyo Dome, though these efforts have yet to translate into significant bottom-line contributions.

To navigate broader economic volatility, the company has proactively strengthened its financial position by converting foreign currency deposits into yen, prioritizing domestic demand to hedge against external risks. Looking forward, the organization is deepening stakeholder engagement by enhancing its shareholder benefits program, which now includes exclusive lottery-based invitations to live events. By balancing aggressive IP development with prudent financial risk management, the company maintains a stable trajectory within the global entertainment sector for the remainder of the fiscal year.