KOTOBUKIYA CO., LTD.
7809・Standard Market・Other Products
Business
Kotobukiya Co., Ltd. is a hobby-related products specialty manufacturer headquartered in Tachikawa City, Tokyo, founded in 1947. Centered on Figures, Plastic Models, and Sundry Goods, the company operates an integrated manufacturing-and-sales model spanning product planning, prototype production, manufacturing management, and sales. Manufacturing is primarily fabless, relying on outsourced factories in China. The product lineup is built on two pillars: proprietary IP (Megami Device, Frame Arms Girl, Arcanadea, etc.) and licensed content from third parties (anime, film, and game characters), sold domestically and overseas through 4 directly-operated retail stores in Japan, its own e-commerce site, and wholesale channels. Net sales for FY2025 (ended June 2025) were ¥16,503 million. Main customers are hobby fans and collectors, and the company also captures inbound demand and VTuber-related demand.
Business Model
The company employs a fabless model, outsourcing manufacturing to contracted factories in China to keep fixed costs low, while in-house sculptors and designers handle prototype production and design to deliver high-quality products. Revenue is composed of three channels: domestic wholesale (¥5,243 million), overseas wholesale (¥4,352 million), and retail sales (¥6,737 million). Proprietary IP, which requires no licensing royalties, carries a higher profit margin, and combining it with licensed products from other companies achieves both revenue stability and high profitability.
Company Strengths
The company continuously nurtures proprietary IP such as Megami Device, Frame Arms Girl, and Arcana Diva. In FY2025 (ending June 2025), new products including "Sumeragi Tsukuyomi Regalia," the "PUNI☆MOFU series," and "Elmeda" contributed to sales, and domestic wholesale of Plastic Models increased 109.0% year on year despite intensifying competition in the bishoujo Plastic Models market.
The high reproduction and expressive capability of in-house sculptors has been recognized by rights holders, enabling the company to stably secure numerous licenses for third-party IP. Starting with Evangelion in 1995, the company has continuously acquired licenses for leading domestic and overseas IP such as Star Wars, Marvel, and Square Enix. It has also received the "Best Hard License Award" from Warner Bros. in the United States.
The company operates four directly-operated stores—Tachikawa Main Store, Akihabara Kan, Nihonbashi, and Namba (opened November 2024)—along with its own e-commerce site. Retail sales in FY2025 (ending June 2025) increased to ¥6,737 million (105.6% year on year). Strong visits from inbound foreign tourists and steady sales of VTuber-related merchandise were the main drivers of increased sales at each store.
ENVALITH's Perspective
Performance Trend
Net sales peaked at ¥18,100 million in FY2023 (ended June 2023), then remained flat at ¥16,379 million in FY2024 (ended June 2024) and ¥16,503 million in FY2025 (ended June 2025). FY2026 (ending June 2026) marks the first fiscal year under consolidated accounting, with full-year net sales forecast at ¥16,500 million, roughly in line with the previous fiscal year. Cumulative results for Q3 (nine months) were net sales of ¥11,985 million, operating profit of ¥410 million, ordinary profit of ¥469 million, and net profit attributable to owners of the parent of ¥323 million. Against a gross margin of 30.2%, the SG&A expense ratio was high at 26.8%, leaving the operating margin at only 3.4%. External factors such as U.S. tariff policy, exchange rate fluctuations, and rising raw material costs are increasing uncertainty going forward. The equity ratio stood at 63.3%, maintaining financial soundness.
Growth Strategy
Aiming for sustainable growth through three pillars: expanding proprietary IP, strengthening overseas expansion, and establishing new business domains
Continuously launching new products under proprietary IP such as the Megami Device PUNI☆MOFU series and Arcana Deus series, aiming to curb licensing costs and improve profitability. As of the cumulative third quarter, sales contribution has been confirmed in both the domestic and Asian markets.
Shanghai Kotobukiya Import and Export Co., Ltd. and Kotobukiya America Inc. have been consolidated from the first quarter of FY2026 (ending June 2026), promoting brand penetration through North American event exhibitions and collaboration with distributors in China. As of the cumulative third quarter, sales contribution has been confirmed in both regions.
At directly-operated stores, VTuber-related products have shown steady performance, and the number of inbound foreign visitors has remained at a high level. The company continues to sustain profit contribution from retail channels while enhancing synergy with its own e-commerce operations.
Last updated: July 17, 2026