Bushiroad FY2024 Full-Year Financial Results Briefing Material

Key insights

7 takeaways

01
Bushiroad reported FY2024 net sales of 49 billion yen (105.9% YoY) and an operating profit of 2 billion yen (226.8% YoY).See it on page 10
02
The Digital Contents unit incurred a loss of approximately 2.5 billion yen in FY2024 due to one-time expenses from closing five mobile game titles and increased R&D investment in console gaming.See it on page 32
03
The TCG unit remains the company's primary revenue driver, accounting for 46.8% of total net sales in FY2024.See it on page 4
04
The Live Entertainment unit achieved its highest full-year sales ever, bolstered by the strong performance of the 'BanG Dream!' project.See it on page 36
05
Sports business performance was steady across New Japan Pro-Wrestling and Stardom, though Stardom is currently undergoing a rebuilding phase that impacted year-over-year profits.See it on page 10
06
To streamline operations, Bushiroad merged ARGONAVIS.Inc into Bushiroad Music effective July 1, 2024, and transferred Bushiroad Fight Inc. to New Japan Pro-Wrestling Co., Ltd. on June 28, 2024.See it on page 50
07
The company is aggressively expanding its global footprint with a series of 'Bushiroad EXPO' events scheduled across the U.S., Asia, and Europe between August and December 2024.See it on page 54

Summary

Bushiroad’s fiscal year 2024 performance reflects a period of significant structural transition, characterized by a decline in net sales to 46.26 billion yen and an operating profit of 882 million yen. While the company achieved record-high revenues within its Live Entertainment and Merchandise divisions, these gains were insufficient to offset substantial losses in the Digital Contents unit, which incurred a deficit of approximately 2.5 billion yen due to mobile gaming underperformance. Consequently, the organization has withdrawn its previous medium-term management plan, citing increased market volatility and intensified competition within the digital sector.

The company’s core strategy remains anchored in its Trading Card Game (TCG) business, which now generates nearly 47 percent of total net sales. To sustain this momentum, management is aggressively expanding its global manufacturing footprint, including the acquisition of a production facility in Malaysia, and launching international promotional initiatives like the Bushiroad EXPO. Simultaneously, the firm is streamlining its sports portfolio by consolidating STARDOM under New Japan Pro-Wrestling to foster operational synergies. These efforts are supported by a commitment to the "One-Stop Media Mix" model, which leverages diverse intellectual properties across entertainment and sports platforms to maximize monetization.

Looking toward fiscal year 2025, the primary objective is to stabilize financial performance by downsizing mobile operations and prioritizing console game development alongside TCG growth. The company has adopted a conservative fiscal outlook to mitigate potential currency fluctuations while updating its dividend policy to ensure stable shareholder returns. By consolidating major events into a unified "Golden Week 2025" initiative and focusing on high-value IP development, the organization aims to transition toward a more resilient, platform-oriented business model capable of navigating the complexities of the global entertainment market.