Bushiroad FY2025 Q2 Financial Results Briefing Material

Key insights

7 takeaways

01
Bushiroad reported strong financial growth for FY2025 Q2, with net sales reaching 13,457 million yen and an operating profit of 1,215 million yen, a significant turnaround from the 215 million yen operating loss in the same period last year.See it on page 1
02
The TCG, Live Entertainment, and MD units were the primary drivers of growth, with the MD unit specifically contributing 2,226 million yen in sales, a year-over-year increase of 1,023 million yen.See it on page 7
03
The company recorded a 590 million yen non-operating exchange gain due to the yen depreciating from 142.73 JPY/USD in September 2024 to 158.18 JPY/USD in December 2024.See it on page 5
04
Bushiroad has raised its full-year FY2025 forecast, now projecting 51,000 million yen in net sales and 3,000 million yen in operating profit, representing a 150% progress rate against initial profit targets.See it on page 12
05
The TCG unit maintained solid performance through the successful launch of 'hololive OFFICIAL CARD GAME' and 'The Quintessential Quintuplets Card Game,' alongside consistent sales from established titles like 'Weiβ Schwarz' and 'Cardfight!! Vanguard.'See it on page 16
06
The Sports unit, comprising New Japan Pro-Wrestling and STARDOM, reported soft performance in the first half of FY2025 due to off-season scheduling but expects improved attendance in the second half through a series of large-venue events.See it on page 27
07
The company is executing a 'One-Stop Media Mix' strategy, highlighted by the January 2025 release of the 'Ave Mujica' anime and a planned large-scale joint live event at K-Arena Yokohama in April 2025.See it on page 13

Summary

Bushiroad achieved record-breaking financial performance in the second quarter of fiscal year 2025, reporting net sales of 12,189 million yen and an operating profit of 1,350 million yen. This growth trajectory, which surpassed initial internal projections, has prompted an upward revision of the company’s full-year consolidated earnings forecast. The primary drivers of this success include robust demand within the trading card game, live entertainment, and merchandise segments, bolstered by the strong market reception of new trading card titles such as The Quintessential Quintuplets and hololive.

The company’s operational strategy centers on a "One-Stop Media Mix" model, which integrates diverse entertainment verticals—ranging from digital content to physical events—into a unified intellectual property ecosystem. While the sports division faced a temporary decline due to seasonal fluctuations, management expects a recovery in attendance and profitability throughout the remainder of the fiscal year. Future growth initiatives are heavily focused on sustaining this momentum through a pipeline of new console game releases and the strategic expansion of the Ave Mujica anime project, which encompasses both broadcast and merchandising components.

To secure a competitive advantage in the global market, the company is prioritizing the enhancement of its digital infrastructure and community engagement tools. By scaling the Bushi Navi platform and implementing localized grassroots sales initiatives, the organization aims to strengthen international distribution partnerships and deepen its connection with global fanbases. Ultimately, these efforts are designed to transition the company into a comprehensive platform provider capable of elevating both its proprietary intellectual properties and those of external collaborators on a global scale.