AMUSE INC.

Business Details

Comprises admission revenue from the planning, production, and implementation of concerts, theatrical performances, and other events, as well as production revenue from performances hosted by other companies (Event Revenue), plus revenue from the planning, production, and sale of artist merchandise and fan club membership fees (Fan Club & Merchandise Sales Revenue). Revenue is generated primarily through the activities of renowned artists such as Southern All Stars, Masaharu Fukuyama, Gen Hoshino, Perfume, and SEKAI NO OWARI, and this segment accounts for approximately 63% of the group's total operating revenue (FY2026 (ending March 2026)), making it the core segment.

Recent Overview

Segment profit recovered sharply, up 277.9% year on year, driven by major tours and a sharp expansion in merchandise revenue.

In FY2026 (ending March 2026), although there was a decline due to the base effect from the prior period's SEKAI NO OWARI ARENA TOUR 2024 "Shinkai" and other events, major projects such as Southern All Stars LIVE TOUR 2025 "THANK YOU SO MUCH!!" (January to May 2025), Gen Hoshino's "Gen Hoshino presents MAD HOPE", and the Broadway musical "Kinky Boots" contributed to results. In addition, merchandise and product revenue for artists outside the group increased significantly, expanding Fan Club & Merchandise Sales Revenue by ¥3,303 million year on year to ¥18,819 million. Operating revenue was ¥43,830 million (up 4.2% year on year), and segment profit was ¥3,199 million (up 277.9% year on year). For FY2027 (ending March 2027), a decline in both revenue and profit is expected due to the base effect from major concerts and stage performances held in the current period.

Key Products

Growth Drivers

• Regular holding of major concert tours by leading artists such as Southern All Stars, Masaharu Fukuyama, Gen Hoshino, Perfume, and IVE
• Revenue diversification through expansion of merchandise and product revenue for artists outside the group
• Expansion of the domestic concert market (record-high attendance and sales levels)
• Growth in arena performance attendance due to increased utilization of newly built arena venues
• Improved profit margins from bringing the company's own e-commerce site (Asmart) and fan club sites in-house
• Business expansion into Asia and North America through overseas subsidiaries (US, South Korea, Taiwan, Hong Kong, China)

Risks

• Risk of year-to-year revenue fluctuation depending on whether major concert tours are held (a decline in both revenue and profit is expected in FY2027 (ending March 2027) due to a base effect)
• Risk of event cancellation or postponement due to external factors such as natural disasters, weather, and infectious diseases
• Risk of a sharp decline in revenue due to reduced activity or contract termination of core artists (dependence on specific artists)
• Increases in merchandise manufacturing costs and event production costs due to rising raw material prices and labor costs
• Medium- to long-term decline in demand in the domestic live entertainment market due to population decline and aging in Japan
• Political and economic risks in overseas expansion, and changes in regulations and laws in various countries