KOTOBUKIYA CO., LTD.

Business Details

Develops Figures, Plastic Models, and Sundry Goods based on anime, game, and film characters as well as proprietary in-house IP, operating an integrated planning-through-sales model. Manufacturing is primarily fabless, outsourced to China. Sales are conducted through multiple channels including domestic wholesale, overseas wholesale, Directly-operated Retail Stores (Tachikawa, Akihabara, Nihonbashi, Namba), and E-commerce Sites, with global expansion into North America, Europe, and Asia (including China). Shanghai Kotobukiya Import & Export Co., Ltd. and Kotobukiya America Inc. have been consolidated, and overseas business is now being fully rolled out. The key management indicator is the ordinary profit margin on sales (target: 10.0% or higher).

Recent Overview

Net sales of ¥11,985 million and ordinary profit of ¥469 million recorded for cumulative Q3 FY2026 (ending June 2026); full-year forecast maintained

Starting from Q1 FY2026 (ending June 2026), Shanghai Kotobukiya Import & Export Co., Ltd. and Kotobukiya America Inc. were consolidated, and the company prepared its first quarterly consolidated financial statements. For the cumulative nine months (July 2025 to March 2026), net sales were ¥11,985 million, operating profit was ¥410 million, ordinary profit was ¥469 million, and quarterly net income attributable to owners of the parent was ¥323 million. Gross profit margin was 30.2%, and operating profit margin remained at only 3.4%, reflecting a cost structure weighed down by SG&A expenses of ¥3,211 million. A foreign exchange gain of ¥71 million boosted ordinary profit. The full-year forecast (net sales of ¥16,500 million, operating profit of ¥800 million, ordinary profit of ¥720 million) remains unchanged from the revised figures announced on February 13, 2026. Domestically, the PUNI☆MOFU series and VTuber-related merchandise drove performance; in North America, the BISHOUJO series was well received; and in Asia, the company strengthened collaboration with local distributors in China.

Key Products

Growth Drivers

• Continuous new product launches in the bishoujo plastic model category, including the PUNI☆MOFU series based on proprietary IP such as Megami Device and Arcanadea, contributing to sales in the domestic and Asian markets
• Steady performance of VTuber-related merchandise at directly-operated stores and sustained high levels of inbound demand supporting store visitor numbers
• Favorable reception of the BISHOUJO series in the North American market and enhanced recognition of the Kotobukiya brand through participation in events such as Anime Expo and San Diego Comic-Con
• Expanded brand touchpoints through strengthened collaboration with local distributors in the Asian region, centered on the Chinese market
• Full-scale rollout of overseas business and contribution to corporate value creation through the consolidation of Shanghai Kotobukiya Import & Export Co., Ltd. and Kotobukiya America Inc.

Risks

• Risk of impact on domestic and overseas economic activity stemming from U.S. tariff policy and related constraints on shipments to North America
• Risk of a decline in hit products in the Figures category and intensifying competition
• Concentration risk in the supply chain due to reliance on outsourced manufacturing in China, and rising energy and raw material prices
• Impact on earnings from instability in foreign exchange rates (the cumulative Q3 ordinary profit margin on sales stood at only 3.9%, significantly below the 10.0% target)
• Dependence on third-party IP (licensing rights are not granted exclusively and may also be licensed to competitors)
• Uncertainty over the outlook due to international political instability, including the situation in the Middle East