TOEI ANIMATION CO.,LTD.
4816・Standard Market・Information & Communication
Business
Toei Animation Co., Ltd. is Japan's largest and one of the world's leading animation production companies, founded in 1956. It holds a vast IP library comprising 278 theatrical anime titles, 247 TV anime series, and approximately 14,000 total episodes, and operates across four segments: Visual Production & Sales Business, Copyright Licensing Business, Merchandise Sales Business, and Event Business. Centered on flagship IPs such as "One Piece," "Dragon Ball," "Pretty Cure," and "Digimon Adventure," the company generates licensing revenue globally through its network of overseas subsidiaries across Asia, Europe, and North, Central, and South America. The Copyright Licensing Business, centered on granting merchandising rights to licensees in toys, games, apparel, and other categories, serves as the highly profitable core of the company.
Business Model
The company plans and produces anime works in-house, conducts initial recovery through broadcasting and streaming rights sales, and then globally licenses out character merchandising rights and game rights for completed IP to continuously earn royalties. The Copyright Licensing Business boasts an extremely high profit margin of 54.6% (FY2026 (ending March 2026)), and combined with the Visual Production & Sales Business (profit margin of 28.1%), the company achieves an overall operating profit margin of 33.1%. The Merchandise Sales Business and event business function as direct touchpoints with fans, contributing to the maintenance and expansion of IP value.
Company Strengths
Since its founding in 1956, the company has amassed 278 theatrical anime titles and 247 TV anime titles, totaling approximately 14,000 episodes. It holds multiple long-lived global IPs such as "One Piece," "Dragon Ball," "Pretty Cure," and "Digimon Adventure," and its strategy of extending IP lifecycles (evergreening) generates ongoing licensing revenue from existing works.
In FY2026 (ending March 2026), the Copyright Licensing Business achieved net sales of ¥48,905 million, segment profit of ¥26,720 million, and a profit margin of 54.6%. A global licensing network spanning Asia, Europe, and North/Central/South America through three overseas subsidiaries (TOEI ANIMATION ENTERPRISES LTD., TOEI ANIMATION INCORPORATED, and TOEI ANIMATION EUROPE S.A.S.) stably generates high-margin royalty income with low marginal costs.
As of the end of FY2026 (ending March 2026), cash and cash equivalents stood at ¥76,406 million (cash and deposits totaled ¥92,748 million), total net assets were ¥171,039 million, and total assets were ¥202,271 million. The company maintains virtually debt-free management with no interest-bearing liabilities, securing ample cash on hand that can be allocated to strategic investments such as new IP production and M&A in its upfront-investment-driven anime business.
ENVALITH's Perspective
Performance Trend
Revenue expanded steadily from ¥57,020 million in FY2022 (ending March 2022) to ¥87,457 million in FY2023 (ending March 2023), ¥88,654 million in FY2024 (ending March 2024), and ¥100,836 million in FY2025 (ending March 2025), but FY2026 (ending March 2026) saw the first revenue decline, at ¥93,669 million (down 7.1% year on year). The main cause was a pullback from the prior period's major hit titles such as "GeGeGe no Kitaro: Tomb of Kitaro's Birth" and "THE FIRST SLAM DUNK." On the other hand, a significant reduction in cost of sales led to an increase in gross profit to ¥49,203 million (up 1.6% year on year), and net income reached a record high of ¥25,070 million. For FY2027 (ending March 2027), revenue is expected to be ¥100,000 million (up 6.8% year on year), while operating income is planned to decline sharply to ¥25,000 million (down 19.4% year on year) due to expanded strategic investment under VISION2030. As an external factor, the continued expansion of the overseas anime market remains a persistent tailwind, but uncertainty in the international political and economic environment poses a risk to business impact.
Growth Strategy
Accelerating the global IP business along four axes: strengthening IP, evolving studios, expanding regional presence, and expanding customer touchpoints
Building a global production system centered on the Oizumi Studio, the company aims to expand production capacity to approximately 1.5x current levels through personnel increases numbering in the hundreds and the establishment of new studios domestically and overseas. It aims to establish next-generation production technologies such as VR/AR, motion capture, and AI, targeting world-class standards in both quality and quantity.
In addition to strengthening promotion and marketing for existing global IP such as "One Piece" and "Dragon Ball," the company will accelerate domestic and overseas expansion of growth and development-stage IP such as "Girls Band Cry." It will also focus on creating new IP through co-creation with leading local partners, aiming to diversify its IP portfolio.
While further strengthening the existing network in the Americas, Europe, and Asia, the company will newly enter 6 regions and increase overseas personnel. In addition to expanding exports of Japan-originated IP, it will establish the development of overseas-originated IP as a second pillar of its overseas business, aiming for an overseas sales ratio exceeding 70% in the future. Overseas sales in FY2026 (ending March 2026) were ¥59,677 million (approximately 63.7% of total sales).
In addition to expanding domestic stores and promotional events through EC development and logistics efficiency improvements, the company will also take on the operation of food & beverage services and comprehensive entertainment facilities. It will also work on developing stores and events overseas by leveraging domestic know-how. Other Business (Event Business) achieved substantial revenue growth in FY2026 (ending March 2026), with net sales of ¥6,325 million (up 46.6% year-on-year).
Last updated: July 19, 2026