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Whether The Pokémon Company's estimated revenue lines add up to group revenue for the year to February 2026

TPC year to February 2026 (Mar 2025–Feb 2026) ≈ Nintendo year to March 2026 (Apr 2025–Mar 2026); 2025 for License Global and GameStop

EstimateA model reconciliation of several estimates. The gap's existence is solid; its size is not.

What this is

Whether The Pokémon Company's estimated revenue lines add up to group revenue for the year to February 2026: about ¥812bn against ¥1,043bn, leaving ¥231bn unexplained.

How it’s built

  1. Cards ¥290bn (¥223–370bn); mobile ¥187bn (¥123–205bn); shops and events ¥158bn (¥73–245bn).
  2. Licensing outside Asia ¥105bn (¥98.5–131bn); console payments from Nintendo ¥37bn (¥20–62bn); licensing in Japan and Asia ¥30bn (¥15–50bn); anime ¥4.5bn (¥1.2–14bn).
  3. Central points total about ¥812bn (range ¥555–1,077bn), or about ¥767bn if Pocket is booked after app-store fees.
  4. Group revenue is about ¥1,043bn (¥1,020–1,048bn), so the lines fall about ¥231bn, 22%, short (¥276bn net).
  5. Splitting by company: about ¥169bn of the gap is in the subsidiaries and about ¥62bn in the Tokyo company.

What we assumed

  • Most of the gap sits in the subsidiaries, not the Tokyo company.Subsidiaries book about ¥512bn (group less Tokyo's filed ¥531bn); modelled lines cover about ¥343bn. Tokyo's ¥62bn shrinks to ¥2–47bn after its own reconciliation.
  • Within the subsidiaries, the gap is mainly at TPC International.Korea, the only Asian subsidiary with published accounts, booked about ¥7.7bn in 2025, so Asian subsidiaries can hold little of it.
  • Each line's central point is a fair centre for that line.Each comes from its own model; the biggest, cards, rests on an unsourced share of Western list price.
  • Group revenue is about ¥1,043bn.Derived from Nintendo's affiliate figures less the other affiliates it holds, such as a sports club; range ¥1,020–1,048bn.

Sanity check

The gap is fragile: the card share alone swings the subsidiary gap by about ¥97bn, and the licensing rate by about ¥106bn. A newer Nintendo-payments estimate, ¥16–51bn, barely changes it.

Where it comes from

Our calculation from other figures in the trainer’s notes:

Show the working
  • Group revenue: ¥1,020–1,048bn
  • Group central: ¥1,043bn
  1. Lines: cards
  2. mobile = Pocket (net low 0.7 × 143.3, gross high 154.8) + Q35's GO take 13.1–25.6 (, a profit-equivalent placed in revenue) + own titles 10–25 …

Where it’s used

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