Sanrio’s operating margin, net margin and royalty share of sales for the years to March 2015–2026; in the latest year 40.1% operating margin and 49.7% royalties

How it’s built

1. Each year’s operating profit, net profit and royalty revenue divided by revenue, from Sanrio’s filed results summaries. For the year to March 2026: ¥77.9bn ÷ ¥194.1bn = 40.1%.

What we assumed

• Royalty revenue for the latest year is ¥96.4bn, from a figure rounded to ¥100m.Sanrio’s presentation gives it in units of ¥100m; the rounding moves the share by under 0.1 points.
• Overseas subsidiaries’ January–December years are mixed with Japan’s April–March year.This is how Sanrio consolidates; no adjustment is made.

Sanity check

Some royalty rows were read only once from a disputed file. The swing from −8% in the year to March 2021 to 40% in 2026 shows how volatile a licensing margin can be.

Where it comes from

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

• FiledConsolidated operating margin, year to March 2016 (Mar 2016)17.5%
• FiledConsolidated operating margin, year to March 202640.1%
• FiledOperating margin, year to March 201523.4%
• FiledRoyalty share of consolidated sales, year to March 202649.7%

Where it’s used

• StoryThe Pokémon Company
• Chart · The Pokémon CompanyThe Pokémon Company keeps about 30% of sales; Sanrio keeps 40% and Wizards 46%
• ProfileSanrio